Stock-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Stock-based Compensation Expense |
We
recorded stock-based compensation expense for the years ended December 31, 2023 and 2022 as follows:
Schedule of Stock-based Compensation Expense
| |
|
2023 |
|
|
2022 |
|
| |
|
Year Ended
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Research and development |
|
$ |
363,956 |
|
|
$ |
2,895,653 |
|
| General and administrative |
|
|
2,007,258 |
|
|
|
5,933,060 |
|
| Total |
|
$ |
2,371,214 |
|
|
$ |
8,828,713 |
|
|
| Schedule of Restricted Stock Awards (“RSAs”) Activity |
The
following table summarizes our restricted stock award (RSA) activity during the years ended December 31, 2022 and 2023:
Schedule
of Restricted Stock Awards (“RSAs”) Activity
| |
|
Number of
shares |
|
|
Weighted-
average
grant-date fair
value per share |
|
| Unvested as of January 1, 2022 |
|
|
4,555 |
|
|
$ |
157.81 |
|
| Granted |
|
|
9,358 |
|
|
|
74.27 |
|
| Forfeited |
|
|
(1,676 |
) |
|
|
110.62 |
|
| Vested and issued |
|
|
(9,142 |
) |
|
|
100.88 |
|
| Unvested as of December 31, 2022 |
|
|
3,095 |
|
|
|
94.44 |
|
| Granted |
|
|
10,750 |
|
|
|
14.59 |
|
| Forfeited |
|
|
(1,250 |
) |
|
|
133.00 |
|
| Cancelled |
|
|
(2,555 |
) |
|
|
22.13 |
|
| Vested and issued |
|
|
(8,790 |
) |
|
|
24.44 |
|
| |
|
|
|
|
|
|
|
|
| Unvested as of December 31, 2023 |
|
|
1,250 |
|
|
$ |
9.26 |
|
|
| Schedule of Restricted Stock Units (“RSUs”) Activity |
The
following table summarizes our restricted stock unit (RSU) activity during the years ended December 31, 2022 and 2023:
Schedule
of Restricted Stock Units (“RSUs”) Activity
| |
|
Number of
shares |
|
|
Weighted-
average
grant-date fair
value per share |
|
| Outstanding at January 1, 2022 |
|
|
22,008 |
|
|
$ |
155.29 |
|
| Granted |
|
|
121,439 |
|
|
|
61.50 |
|
| Forfeited |
|
|
(3,431 |
) |
|
|
101.73 |
|
| Cancelled |
|
|
(1,876 |
) |
|
|
171.58 |
|
| Issued |
|
|
(2,399 |
) |
|
|
79.07 |
|
| Outstanding at December 31, 2022 |
|
|
135,741 |
|
|
|
73.81 |
|
| Granted |
|
|
116,078 |
|
|
|
14.18 |
|
| Forfeited |
|
|
(12,296 |
) |
|
|
21.69 |
|
| Cancelled |
|
|
(16,801 |
) |
|
|
71.36 |
|
| |
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2023 |
|
|
222,722 |
|
|
|
45.82 |
|
| Vested and unissued |
|
|
(115,145 |
) |
|
|
71.90 |
|
| |
|
|
|
|
|
|
|
|
| Unvested at December 31, 2023 |
|
|
107,577 |
|
|
$ |
17.90 |
|
|
| Schedule of Warrants Activity |
The
following table summarizes our warrant activity during the years ended December 31, 2022 and 2023.
Schedule of Warrants Activity
| |
|
Total warrants outstanding |
|
|
Weighted average exercise price |
|
|
Weighted average remaining contractual life (in years) |
|
| Outstanding as of January 1, 2022 |
|
|
15,190 |
|
|
$ |
213.22 |
|
|
|
|
|
| Expired |
|
|
(907 |
) |
|
|
343.28 |
|
|
|
|
|
| Outstanding as of December 31, 2022 |
|
|
14,283 |
|
|
|
205.01 |
|
|
|
0.9 |
|
| Granted |
|
|
173,007 |
|
|
|
19.27 |
|
|
|
|
|
| Expired |
|
|
(6,783 |
) |
|
|
266.96 |
|
|
|
|
|
| Not exercisable |
|
|
(7,500 |
) |
|
|
7.40 |
|
|
|
|
|
| Outstanding and exercisable as of December 31, 2023 |
|
|
173,007 |
|
|
$ |
25.41 |
|
|
|
2.2 |
|
|
| Warrant [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Stock Option Warrant Valuation Assumption |
We
used the Black-Scholes option pricing model to calculate the grant date fair value of the two warrants with the following assumptions:
Schedule
of Stock Option Warrant Valuation Assumption
| Average risk-free rate of interest |
|
|
4.32-4.88 |
% |
| Expected term (years) |
|
|
2.00–3.00 |
|
| Expected stock price volatility |
|
|
82.85-108.47 |
% |
| Dividend yield |
|
|
0 |
% |
|
| Share-Based Payment Arrangement, Option [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Stock Option Activity |
The
following table summarizes our stock option activity during the years ended December 31, 2022 and 2023:
Schedule
of Stock Option Activity
| |
|
Total options Outstanding |
|
|
Weighted average exercise price |
|
|
Weighted average remaining contractual life (in years) |
|
| Outstanding as of January 1, 2022 |
|
|
8,943 |
|
|
$ |
341.34 |
|
|
|
|
|
| Options granted |
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
- |
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2022 |
|
|
8,943 |
|
|
|
341.34 |
|
|
|
2.6 |
|
| Options granted |
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited or expired |
|
|
(1,951 |
) |
|
|
257.28 |
|
|
|
|
|
| Outstanding and exercisable as of December 31, 2023 |
|
|
6,992 |
|
|
$ |
364.72 |
|
|
|
2.1 |
|
|