Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Tables)

v3.25.1
Stockholders’ Equity (Tables)
3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Stock Options Activity
The following table summarizes stock option activity during the three months ended March 31, 2025, (in thousands, except per share data).
Number of Shares Weighted Average Exercise Price  Weighted Average Remaining Contractual Life
(in years)
Total Intrinsic Value
Outstanding as of January 1, 2025 3,881 $ 6.64  4.9 $ — 
Granted 1,123 0.60  7.0 — 
Forfeited (284) 6.07  —  — 
Outstanding as of March 31, 2025 4,720 $ 5.24  5.1 — 
Options vested and exercisable 2,491 $ 6.03  4.3 — 
Schedule of Weighted Average Assumptions Used in Determining Fair Value of Options
The following table summarizes weighted average assumptions used in determining the fair value of the stock options at the date of grant during the three months ended March 31, 2025 and 2024:
For the three months ended
March 31, 2025 March 31, 2024
Exercise price $ 0.60  $ 6.00 
Expected term (years) 4.6 4.5
Expected stock price volatility 92.1  % 79.6  %
Risk-free rate of interest 4.3  % 4.2  %
Expected dividend yield (per share) % %
The following table summarizes weighted average assumptions used in determining the fair value of the warrants at the date of grant during the three months ended March 31, 2025:
Exercise price $ 0.60 
Expected term (years) 3.0
Expected stock price volatility 87.7  %
Risk-free rate of interest 4.3  %
Expected dividend yield (per share) %
Schedule of Warrant Activity
The following table summarizes warrant activity during the three months ended March 31, 2025 (in thousands, except per share data):
Number of Shares Weighted Average Exercise
Price
Weighted Average
Remaining Contractual Life
 (in years)
Outstanding as of January 1, 2025 616 $ 5.93  3.8
Granted 120  0.60
Outstanding as of March 31, 2025 736 $ 5.06  3.5
Warrants vested and exercisable 736 $ 5.06  3.5