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

STOCK-BASED COMPENSATION (Tables)

v3.25.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF STOCK BASED COMPENSATION

The following table summarizes stock-based compensation (in thousands):

 

    2024     2023  
    For the year ended December 31,  
    2024     2023  
             
Research and development   $ 1,561     $ 1,085  
General and administrative     5,067       3,683  
Total stock-based compensation expense   $ 6,628     $ 4,768  
SCHEDULE OF STOCK OPTION ACTIVITY

The following table summarizes stock option activity during the year ended December 31, 2024 and 2023.

 

    Number of
Options		     Weighted
Average
Exercise Price		     Weighted
Average
Remaining
Contractual
Term (years)		     Aggregate
Intrinsic Value
(in thousands)		  
                         
Outstanding at December 31, 2022     240,770     $ 37.04       6.42     $ —  
Granted     —     $ —       —     $ —  
Cancelled/forfeited     (61,769 )   $ 32.59       —     $ —  
Exercised     —     $ —       —     $ —  
Outstanding at December 31, 2023     179,001     $ 38.58       6.83     $ 3  
Granted     —     $ —       —     $ —  
Cancelled/forfeited     (2,414 )   $ 33.84       —     $ —  
Exercised     —     $ —       —     $ —  
Outstanding at December 31, 2024     176,587     $ 38.64       5.83     $ 6  
Exercisable     163,386     $ 39.07       5.77     $ 4  
Unvested     13,201     $ 33.29       6.65     $ 2  
SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY

The following table summarizes restricted stock award activity:

 

    Number of
Awards		     Weighted Average
Grant Date Fair
Value Per Unit		  
             
Outstanding at December 31, 2022     816,958     $ 5.35  
Granted     1,958,159     $ 3.99  
Cancelled/forfeited     (56,398 )   $ 4.32  
Vested     (270,550 )   $ 5.59  
Outstanding at December 31, 2023     2,448,169     $ 4.25  
Granted     2,065,054     $ 4.95  
Cancelled/forfeited     (183,114 )   $ 3.78  
Vested     (1,009,298 )   $ 4.64  
Outstanding at December 31, 2024     3,320,811     $ 4.60  
2015 Equity Incentive Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE

As of December 31, 2024, there are no options outstanding under the 2005 Incentive Plan. Further information regarding options outstanding under the 2015 Incentive Plan as of December 31, 2024 is summarized below:

 

                  Weighted-Average           Weighted-Average  
Range of
Exercise Prices		     Number of
Options
Outstanding		     Remaining
Life In
Years		     Exercise
Price		     Number of
Options
Exercisable		     Remaining
Life in
Years		     Exercise
Price		  
                                             
$ 4.00     $ 22.75       20,088       7.0     $ 16.52       15,154       6.9     $ 17.16  
  25.50       47.00       104,279       5.5       33.52       99,263       5.4       33.38  
  54.50       58.50       52,020       6.2       56.96       48,769       6.2       56.96  
  164.75       183.50       200       4.1       164.75       200       4.1       164.75  
                  176,587                       163,386