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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Awards Granted for Options and RSUs During the Period | For the three months ended March 31, 2024, the Company granted options and RSUs to employees and directors as follows.
| Three Months Ended March 31, 2024
| Award amount |  | Exercise price range |  | Vesting period |  | Expiration
Options | 575,000 |  |  | $ | 2.33 |  |  | 1 year - 4 years |  | 10 years
RSUs | 435,000 |  |  | $ | — |  |  | 4 years |  | —
Summary of Underlying Data Used for Computing the Fair Value of the Options | The underlying data used for computing the fair value of the options are as follows:
| Three Months Ended March 31,
| 2024
Fair value of common stock | $1.88 - $1.94
Dividend yield | 0 | %
Expected volatility | 104.63% - 105.71%
Risk-free interest rate | 3.95 | %
Expected term | 6 years
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount | The following table illustrates the effect of stock-based compensation on the line items on the unaudited condensed consolidated statements of operations:
| Three Months Ended March 31, |  |
(in thousands) | 2024 |  | 2023 |  |  |  |
Research and development expenses | $ | 163 |  |  | $ | 44 |  |  |  |  |
General and administrative | 822 |  |  | 812 |  |  |  |  |
Total | $ | 985 |  |  | $ | 856 |  |  |  |  |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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