Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

v3.24.2.u1
Equity Incentive Plan (Tables)
6 Months Ended
Jun. 30, 2024
Equity Incentive Plan  
Weighted-average assumptions used for the stock option grants

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Grant date fair value

 

$ 9.15

 

 

$ 63.45

 

 

$ 9.15

 

 

$ $63.45

 

Risk-free interest rate

 

 

4.0 %

 

 

3.9 %

 

 

4.0 %

 

 

3.9 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

 

 

0.00 %

 

 

0.00 %

Expected life in years

 

 

5.9

 

 

 

6.1

 

 

 

5.9

 

 

 

6.1

 

Expected volatility

 

 

110 %

 

 

112 %

 

 

110 %

 

 

112 %
Schedule of stock-based compensation expense

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Research and development

 

$ 4,623

 

 

$ 48,425

 

 

$ 241,960

 

 

$ 96,850

 

General and administrative

 

 

14,985

 

 

 

82,752

 

 

 

364,882

 

 

 

165,587

 

Total

 

$ 19,608

 

 

$ 131,177

 

 

$ 606,842

 

 

$ 262,437

 

Schedule of stock option activity

 

 

Number of

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 

Balance at December 31, 2023

 

 

6,763

 

 

$ 609.81

 

 

 

7.8

 

Options granted

 

 

27,325

 

 

 

9.15

 

 

 

-

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

(6,747 )

 

 

607.99

 

 

 

-

 

Balance at June 30, 2024

 

 

27,341

 

 

$ 9.95

 

 

 

9.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at June 30, 2024

 

 

1,955

 

 

$ 20.35

 

 

 

9.5