Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.24.1
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense The amount of stock-based compensation expense recognized for the years ended December 31, 2023 and 2022 was as follows (in thousands):
 
  Year Ended December 31,
  2023 2022
Research and development $ 1,318  $ 1,249 
Selling, general and administrative 2,157  6,305 
Total stock-based compensation $ 3,475  $ 7,554 
Schedule of Option Activity The following table summarizes the Company's service-based option activity for the year ended December 31, 2023:
 
  Options Outstanding
  Number of shares Weighted average exercise price per share Weighted average grant date fair value per share Weighted average remaining contractual term (in years)
Balance at December 31, 2022 5,734  $ 6,789  $ 3,948  6.7
Granted 3,243  $ 641  $ 479 
Forfeited (44) $ 1,137  $ 147 
Expired (1,722) $ 10,419  $ 5,966 
Balance at December 31, 2023 7,211  $ 3,192  $ 1,930  8.3
Exercisable at December 31, 2023 3,517  $ 5,293  $ 3,056  7.5
Schedule of Fair Value Assumptions for Options
The following table shows the assumptions used to compute stock-based compensation expense for stock options with service-based vesting conditions granted under the Black-Scholes valuation model for the years ended December 31, 2023 and 2022:
  Year Ended December 31,
Service-based options 2023 2022
Expected term of options (in years) 5 — 6.25 5 — 6.25
Expected stock price volatility 89.8% — 146.0% 84.0% — 93.5%
Risk-free interest rate 3.43% — 4.13% 1.50% — 4.25%
Expected annual dividend yield 0% 0%