Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense The amount of stock-based compensation expense recognized for the three and six months ended June 30, 2024 and 2023 was as follows (in thousands): 
  Three Months Ended June 30, Six Months Ended June 30,
  2024 2023 2024 2023
Research and development $ 219  $ 331  $ 488  $ 658 
General and administrative 252  562  612  1,090 
Total stock-based compensation $ 471  $ 893  $ 1,100  $ 1,748 
Schedule of Option Activity A summary of option activity for the six months ended June 30, 2024 is as follows:
  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, 2023 7,211  $ 3,191.97  $ 1,930.00  8.3
Granted 150,000  $ 13.43  $ 10.94 
Forfeited (13) $ 660.00  $ 472.94 
Expired (202) $ 10,162.23  $ 6,254.04 
Balance at June 30, 2024 156,996  $ 146.25  $ 91.25  9.9
Exercisable at June 30, 2024 5,433  $ 3,462.88  $ 2,050.59  7.7
Schedule of Fair Value Assumptions for Options
The following table presents the assumptions used to compute stock-based compensation for stock options with service-based vesting conditions granted under the Black-Scholes valuation model for the six months ended June 30, 2024.

Service-based options  
Expected term of option (in years)  
6.25
Expected stock price volatility  
99.7%
Risk-free interest rate  
4.26%
Expected annual dividend yield   0%