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Share-based Compensation Plans (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of share-based compensation expense

The following table provides share-based compensation reflected in the Company’s condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2024 and 2023 (in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Research and development

 

$

24

 

 

$

181

 

 

$

50

 

 

$

410

 

General and administrative

 

 

160

 

 

 

198

 

 

 

315

 

 

 

395

 

 

$

184

 

 

$

379

 

 

$

365

 

 

$

805

 

Schedule of stock option activity

A summary of stock option activity (excluding market-based stock options) for the six months ended June 30, 2024, is as follows:

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Average

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

Number

 

 

Exercise

 

 

Contractual

 

 

Value (in

 

 

 

of Options

 

 

Price

 

 

Term (Years)

 

 

thousands)

 

Outstanding as of December 31, 2023

 

 

291,368

 

 

$

189.09

 

 

 

4.6

 

 

$

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(7,518

)

 

 

198.52

 

 

 

 

 

 

 

Outstanding as of June 30, 2024

 

 

283,850

 

 

$

188.84

 

 

 

4.2

 

 

$

 

Exercisable at June 30, 2024

 

 

250,429

 

 

$

206.52

 

 

 

3.9

 

 

$

 

 

Summary of RSA activity

A summary of RSA activity for the six months ended June 30, 2024 is as follows:

 

 

 

 

 

Weighted Average

 

 

 

Number

 

 

Grant Date

 

 

 

of Shares

 

 

Fair Value

 

Unvested as of December 31, 2023

 

 

170,937

 

 

$

2.28

 

Granted

 

 

65,000

 

 

 

3.35

 

Vested

 

 

(41,715

)

 

 

2.68

 

Forfeited

 

 

 

 

 

 

Unvested as of June 30, 2024

 

 

194,222

 

 

$

2.55