Annual report [Section 13 and 15(d), not S-K Item 405]

STOCK BASED COMPENSATION AWARDS (Tables)

v3.25.0.1
STOCK BASED COMPENSATION AWARDS (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE

In connection with all stock-based compensation awards, total non-cash, stock-based compensation expense recognized in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2024 and 2023 was as follows (in thousands):

 

 

 

Year ended December 31,

 

 

2024

 

2023

 

 

 

 

 

 

 

Research and development expenses

 

$

1,027

 

$

378

General and administrative expenses

 

 

5,118

 

 

3,092

Total stock-based compensation

 

$

6,145

 

$

3,470

The total stock-based compensation expense recognized by award type was as follows (in thousands):

 

 

 

Year ended December 31,

 

 

2024

 

2023

 

 

 

 

 

 

 

Stock options

 

$

4,240

 

$

3,456

Restricted stock units

 

 

1,905

 

 

14

Total stock-based compensation

 

$

6,145

 

$

3,470

SUMMARY OF FAIR VALUE OF OPTIONS GRANTED

The weighted average assumptions used principally in determining the fair value of stock options granted to employees and non-employee directors were as follows:

 

 

 

Year ended December 31,

 

 

 

2024

 

 

2023

 

Risk-free interest rate

 

 

4.23

%

 

 

3.82

%

Expected dividend yield

 

 

0

%

 

0%

 

Expected term in years

 

 

6.18

 

 

6.25

 

Expected volatility

 

 

124.60

%

 

 

101.47

%

 

SUMMARY OF OPTION ACTIVITY

A summary of stock option activity for years ended December 31, 2024 and 2023 is presented below:

Stock Options

 

Shares

 

Weighted
 Average
Exercise
 Price

 

Weighted Average
 Remaining Contractual Term in Years

 

Aggregate
Intrinsic
Value (in thousands)

Outstanding at December 31, 2023

 

708,762

 

$

63.96

 

6.79

 

$

20,216

Granted

 

251,041

 

 

27.98

 

 

 

 

 

Exercised

 

(136,664)

 

 

14.63

 

 

 

 

 

Forfeited or canceled

 

(54,879)

 

 

9.29

 

 

 

 

 

Expired

 

(45,107)

 

 

95.86

 

 

 

 

 

Outstanding at December 31, 2024

 

723,153

 

$

62.95

 

6.95

 

$

881

Exercisable at December 31, 2024

 

381,626

 

$

98.87

 

5.30

 

$

388

 

Summary of RSU activity

A summary of RSU activity for the years ended December 31, 2024 and 2023 is presented below:

 

RSU's

 

Number of Shares Underlying RSUs

 

Weighted
 Average
Grant Date Fair Value

Unvested at December 31, 2023

 

17,911

 

$

5.14

Granted

 

251,045

 

$

27.64

Forfeited

 

(2,193)

 

$

17.15

Vested

 

(7,275)

 

$

19.04

Unvested at December 31, 2024

 

259,488

 

$

26.42