Stockholders' Equity (Tables)
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9 Months Ended |
12 Months Ended |
Sep. 30, 2024 |
Dec. 31, 2023 |
| Stockholders' Equity |
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|
| Summary of Stock Option Activities |
The following table summarizes stock option activities for the nine months ended September 30, 2024:
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Weighted Average |
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Remaining |
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Weighted Average |
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Contractual Life (in |
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|
Stock Options |
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Exercise Price |
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years) |
Outstanding at December 31, 2023 |
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76,112 |
|
$ |
85.95 |
|
3.31 |
Outstanding at September 30, 2024 |
|
76,112 |
|
$ |
85.95 |
|
2.56 |
Options vested and exercisable at September 30, 2024 |
|
47,570 |
|
$ |
85.95 |
|
2.56 |
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The following table summarizes stock option activities for the years ended December 31, 2023 and 2022:
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Weighted Average |
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Remaining |
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Weighted Average |
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Contractual Life (in |
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|
Stock Options |
|
Exercise Price |
|
years) |
Outstanding at December 31, 2021 |
|
76,112 |
|
$ |
85.95 |
|
5.31 |
Outstanding at December 31, 2022 |
|
76,112 |
|
$ |
85.95 |
|
4.31 |
Outstanding at December 31, 2023 |
|
76,112 |
|
$ |
85.95 |
|
3.31 |
Options vested and exercisable at December 31, 2023 |
|
47,570 |
|
$ |
85.95 |
|
3.31 |
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| Schedule of Stock-Based Compensation Expense |
The following table summarizes stock-based compensation expense for the three and nine months ended September 30, 2024 and 2023 (in thousands):
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For the three months ended September 30, |
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For the nine months ended September 30, |
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2024 |
|
2023 |
|
2024 |
|
2023 |
General and administrative |
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$ |
52 |
|
$ |
119 |
|
$ |
150 |
|
$ |
381 |
Research and development |
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(10) |
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(19) |
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(650) |
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|
(1) |
Total stock-based compensation expense |
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$ |
42 |
|
$ |
100 |
|
$ |
(500) |
|
$ |
380 |
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The following table summarizes stock-based compensation expense for the years ended December 31, 2023 and 2022 (in thousands).
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For the year ended December 31, |
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2023 |
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2022 |
General and administrative |
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$ |
436 |
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$ |
700 |
Research and development |
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|
132 |
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|
1,583 |
Total stock-based compensation expense |
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$ |
568 |
|
$ |
2,283 |
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| Summary of Warrant Activities |
A summary of warrant activities for the nine months ended September 30, 2024, is presented below:
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Weighted Average |
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Remaining |
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Weighted Average |
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Contractual Life (in |
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|
Warrants |
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Exercise Price |
|
years) |
Outstanding as of December 31, 2023 |
|
4,481,868 |
|
$ |
1.34 |
|
5.34 |
Exercised |
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(20,490,874) |
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|
— |
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— |
Granted |
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76,966,010 |
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|
0.19 |
|
2.50 |
Outstanding as of September 30, 2024 |
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60,957,004 |
|
$ |
0.29 |
|
2.73 |
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A summary of warrant activities for years ended December 31, 2023 and 2022, is presented below:
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Weighted Average |
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Remaining |
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Weighted Average |
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Contractual Life (in |
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|
Warrants |
|
Exercise Price |
|
years) |
Outstanding as of December 31, 2021 |
|
220,577 |
|
$ |
120.30 |
|
0.73 |
Expired |
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(200,251) |
|
|
127.49 |
|
— |
Granted |
|
49,869 |
|
|
12.03 |
|
9.18 |
Outstanding as of December 31, 2022 |
|
70,195 |
|
$ |
22.80 |
|
8.29 |
Exercised |
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(93) |
|
|
— |
|
— |
Granted |
|
4,411,766 |
|
|
1.00 |
|
5.29 |
Outstanding as of December 31, 2023 |
|
4,481,868 |
|
$ |
1.34 |
|
5.34 |
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| Restricted stock award |
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| Stockholders' Equity |
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| Schedules of Restricted Stock and Restricted Stock Unit Activity |
The following table summarizes restricted stock award activities for the nine months ended September 30, 2024:
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Weighted Average |
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Grant Date Fair |
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Number of Shares |
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Value |
Nonvested at December 31, 2023 |
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64,706 |
|
$ |
11.59 |
Vested |
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(4,595) |
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|
54.45 |
Nonvested at September 30, 2024 |
|
60,111 |
|
$ |
8.32 |
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Certain employees and directors have been awarded restricted stock. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted stock award activities for the years ended December 31, 2023 and 2022:
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Weighted Average |
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|
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Grant Date Fair |
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Number of Shares |
|
Value |
Nonvested at December 31, 2021 |
|
18,732 |
|
$ |
60.75 |
Granted |
|
23,888 |
|
|
10.50 |
Vested |
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(8,604) |
|
|
73.35 |
Nonvested at December 31, 2022 |
|
34,016 |
|
$ |
22.20 |
Granted |
|
36,230 |
|
|
6.90 |
Vested |
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(5,540) |
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|
46.20 |
Nonvested at December 31, 2023 |
|
64,706 |
|
$ |
11.59 |
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| Restricted stock units |
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| Stockholders' Equity |
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| Schedules of Restricted Stock and Restricted Stock Unit Activity |
Certain employees and consultants have been awarded restricted stock units with time-based vesting. The following table summarizes restricted stock units’ activities for the nine months ended September 30, 2024:
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Weighted Average |
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Grant Date Fair |
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Number of Units |
|
Value |
Nonvested at December 31, 2023 |
|
95,197 |
|
$ |
18.78 |
Forfeited |
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(64,892) |
|
|
18.19 |
Vested |
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(18,926) |
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|
23.26 |
Nonvested at September 30, 2024 |
|
11,379 |
|
$ |
14.69 |
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The following table summarizes restricted stock units’ activities for the year ended December 31, 2023 and 2022:
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Weighted Average |
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Grant Date Fair |
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Number of Units |
|
Value |
Nonvested at December 31, 2021 |
|
155,704 |
|
$ |
49.05 |
Granted |
|
98,976 |
|
|
11.40 |
Forfeited |
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(34,333) |
|
|
37.95 |
Vested |
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(54,435) |
|
|
44.70 |
Nonvested at December 31, 2022 |
|
165,912 |
|
$ |
27.60 |
Granted |
|
29,732 |
|
|
5.13 |
Forfeited |
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(51,366) |
|
|
27.22 |
Vested |
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(49,081) |
|
|
31.53 |
Nonvested at December 31, 2023 |
|
95,197 |
|
$ |
18.78 |
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