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 Recognized Stock-Based Compensation

The Company recognized stock-based compensation expense (options and restricted share grants) in the following expense categories of its consolidated statements of operations as follows:

 

    Year Ended December 31,  
    2023     2022  
Research and Development   $ 2,120     $ 2,400  
General and Administrative     2,828       2,828  
Total   $ 4,948     $ 5,228  
Schedule of Equity Compensation Plan by Arrangements

The following table contains information about the Company’s stock plan at December 31, 2023:

 

    Awards Reserved for Issuance     Awards Issued & Exercised     Awards Available for Grant  
2013 Equity Compensation Plan (in thousands)     54,294 *     51,389 **     2,905  

 

* Increased by 8,691 on January 1, 2023, representing 4% of the total number of shares of common stock outstanding on December 31, 2022.
** Includes both stock grants and option grants
Schedule of Stock Option Activity

The following table summarizes the Company’ stock option activity and related information for the period from January 1, 2022 to December 31, 2023 (options in thousands):

 

    Number of Options     Weighted Average Exercise Price     Weighted Average Contractual Term in Years  
Outstanding at January 1, 2022     28,184     $ 1.21       7.2  
Granted     8,509       0.56          
Exercised     (195 )     0.51          
Forfeited     (175 )     0.96          
Expired     (1,584 )     1.06          
Outstanding at December 31, 2022     34,739     $ 1.07       7.1  
Granted     13,928       0.24          
Exercised     —       -          
Forfeited     (296 )     0.63          
Expired     (1,663 )     0.94          
Outstanding at December 31, 2023     46,708     $ 0.83       7.4  
Summary of Outstanding Options

The following table summarizes outstanding options at December 31, 2023, by their exercise price (options in thousands):

 

Range of Exercise Prices   Number Outstanding     Weighted Average Exercise Price Per Share  
$0.15 - $0.69     22,128     $ 0.35  
$0.73 - $0.92     9,684     $ 0.86  
$0.93 - $1.28     6,659     $ 1.11  
$1.36 - $3.32     8,237     $ 1.88  
      46,708     $ 0.83  
Schedule of Compensation Expense for Stock Options

 

    For the Year Ended December 31,  
    2023     2022  
Volatility     91.2% - 120.5 %     92.1% - 98.7 %
Risk-free interest rate     3.50% - 4.69 %     1.57% - 4.32 %
Dividend yield     0.0 %     0.0 %
Expected life     6.0 years           6.0 years