Stock-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| 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, 2024 and 2023 as follows:
Schedule of Stock-based Compensation Expense
| |
|
2024 |
|
|
2023 |
|
| |
|
Year
Ended
December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| Research and development |
|
$ |
169,414 |
|
|
$ |
363,956 |
|
| General and administrative |
|
|
460,100 |
|
|
|
2,007,258 |
|
| Total |
|
$ |
629,514 |
|
|
$ |
2,371,214 |
|
|
| Warrant [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Warrant Valuation Assumption |
We
used the Black-Scholes option pricing model to calculate the grant date fair value of the two warrants granted in 2023 with the following
assumptions:
Schedule
of 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 Restricted Stock Awards (“RSAs”) Activity |
The
following table summarizes our stock option activity during the years ended December 31, 2023 and 2024:
Schedule
of Stock Option Activity
| |
|
Total
options Outstanding |
|
|
Weighted
average exercise price |
|
|
Weighted
average remaining contractual life
(in years) |
|
| Outstanding as of January 1, 2023 |
|
|
8,943 |
|
|
$ |
341.34 |
|
|
|
|
|
| Options granted |
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited
or expired |
|
|
(1,951 |
) |
|
|
257.28 |
|
|
|
|
|
| Outstanding as of December 31, 2023 |
|
|
6,992 |
|
|
|
364.72 |
|
|
|
2.1 |
|
| Options granted |
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited
or expired |
|
|
(4,245 |
) |
|
|
336.00 |
|
|
|
|
|
| Outstanding and exercisable as of December
31, 2024 |
|
|
2,747 |
|
|
$ |
409.09 |
|
|
|
3.7 |
|
|
| Restricted Award [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Restricted Stock Awards (“RSAs”) Activity |
The
following table summarizes our restricted stock award (RSA) activity during the years ended December 31, 2023 and 2024:
Schedule
of Restricted Stock Awards (“RSAs”) Activity
| |
|
Number
of
shares |
|
|
Weighted-
average
grant-date fair
value per share |
|
| Unvested as of January 1, 2023 |
|
|
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 |
|
| Granted |
|
|
- |
|
|
|
- |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
| Cancelled |
|
|
- |
|
|
|
- |
|
| Vested and issued |
|
|
(1,250 |
) |
|
|
9.26 |
|
| |
|
|
|
|
|
|
|
|
| Unvested as of December 31, 2024 |
|
|
- |
|
|
$ |
- |
|
|
| Restricted Stock Units (RSUs) [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Restricted Stock Units (“RSUs”) Activity |
The
following table summarizes our restricted stock unit (RSU) activity during the years ended December 31, 2023 and 2024:
Schedule of Restricted Stock Units (“RSUs”) Activity
| |
|
Number
of
shares |
|
|
Weighted-
average
grant-date fair
value per share |
|
| Outstanding at January 1, 2023 |
|
|
135,741 |
|
|
$ |
73.81 |
|
| Granted |
|
|
116,078 |
|
|
|
14.18 |
|
| Forfeited |
|
|
(12,296 |
) |
|
|
21.69 |
|
| Cancelled |
|
|
(16,801 |
) |
|
|
71.36 |
|
| Issued |
|
|
(17,093 |
) |
|
|
110.59 |
|
| Outstanding at December 31, 2023 |
|
|
222,722 |
|
|
|
45.82 |
|
| Granted |
|
|
192,026 |
|
|
|
1.63 |
|
| Forfeited |
|
|
(14,019 |
) |
|
|
71.68 |
|
| Issued |
|
|
(17,093 |
) |
|
|
110.59 |
|
| |
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2024 |
|
|
383,636 |
|
|
|
19.87 |
|
| Vested and unissued |
|
|
(149,013 |
) |
|
|
43.10 |
|
| |
|
|
|
|
|
|
|
|
| Unvested at December 31, 2024 |
|
|
234,623 |
|
|
$ |
5.11 |
|
|
| Warrant [Member] |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Warrants Activity |
The
following table summarizes our warrant activity during the years ended December 31, 2023 and 2024.
Schedule of Warrants Activity
| |
|
Total
warrants outstanding |
|
|
Weighted
average exercise price |
|
|
Weighted
average remaining contractual
life (in years) |
|
| Outstanding as of January 1, 2023 |
|
|
14,283 |
|
|
$ |
205.01 |
|
|
|
|
|
| Granted |
|
|
173,007 |
|
|
|
19.27 |
|
|
|
|
|
| Expired |
|
|
(6,783 |
) |
|
|
266.96 |
|
|
|
|
|
| Not exercisable |
|
|
(7,500 |
) |
|
|
7.40 |
|
|
|
|
|
| Exercisable |
|
|
7,500 |
|
|
|
7.40 |
|
|
|
|
|
| Outstanding and exercisable as of December 31, 2023 |
|
|
173,007 |
|
|
|
25.41 |
|
|
|
2.2 |
|
| Exercisable |
|
|
7,500 |
|
|
|
7.40 |
|
|
|
|
|
| Granted |
|
|
1,617,777 |
|
|
|
4.54 |
|
|
|
|
|
| Expired
or cancelled |
|
|
(22,500 |
) |
|
|
54.62 |
|
|
|
|
|
| Outstanding and exercisable as of December
31, 2024 |
|
|
1,775,784 |
|
|
$ |
5.95 |
|
|
|
3.8 |
|
|