Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.24.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2024 and 2023 was as follows (in thousands): 
  Three Months Ended September 30, Nine Months Ended September 30,
  2024 2023 2024 2023
Research and development $ 762  $ 371  $ 1,250  $ 1,028 
General and administrative 1,086  582  1,698  1,673 
Total stock-based compensation $ 1,848  $ 953  $ 2,948  $ 2,701 
Schedule of Option Activity A summary of option activity for the nine months ended September 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 1,993,100  $ 10.47  $ 9.04 
Forfeited (27) $ 323.13  $ 232.02 
Expired (228) $ 13,926.66  $ 6,649.90 
Balance at September 30, 2024 2,000,056  $ 20.35  $ 15.22  9.8
Exercisable at September 30, 2024 5,588  $ 3,240.47  $ 2,000.64  7.5
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 nine months ended September 30, 2024.

Service-based options  
Expected term of option (in years)  
5.81 - 6.25
Expected stock price volatility  
113.1% - 116.9%
Risk-free interest rate  
3.70% - 4.26%
Expected annual dividend yield   0%
Schedule of Restricted Stock Shares Activity A summary of RSU activity for the nine months ended September 30, 2024 is as follows:
  RSUs Outstanding
  Number of shares Weighted average grant date fair value
Balance at Unvested RSUs at December 31, 2023 —  $ — 
Granted 632,100  9.88 
Unvested RSUs at September 30, 2024 632,100  $ 9.88