Quarterly report pursuant to Section 13 or 15(d)

Stock Plans (Tables)

v3.23.2
Stock Plans (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of our option activity
                               
    Options
(in thousands)
    Weighted
Average
Exercise
Price per
share
    Weighted
Average
Remaining
Option
Term
(in years)
    Aggregate
Intrinsic
Value
(in thousands)
 
Outstanding at December 31, 2022     927     $ 7.97       8.34     $ -  
Granted     1,025       1.34       -       -  
Forfeited or expired     (16 )     119.39       -       -  
Outstanding at June 30, 2023     1,936       3.56       8.57       -  
Exercisable at June 30, 2023     1,690       3.88       8.48       -  
Schedule of the stock-based compensation expense
                               
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
(in thousands)   2023     2022     2023     2022  
Research and development   $ 26     $ 123     $ 54     $ 246  
Selling, general and administrative     239       94       500       197  
Total stock-based compensation   $ 265     $ 217     $ 554     $ 443  
Schedule of assumptions to estimate the fair value of options
                               
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2023     2022     2023     2022  
Weighted-average risk-free interest rate     4.06 %     - %     4.06 %     1.5 %
Expected dividend payments     -       -       -       -  
Expected holding period (years)1     5.5       -       5.5       5.4  
Weighted-average volatility factor 2     1.08       -       1.08       1.13  
Estimated forfeiture rates for options granted3     7 %     - %     7 %     5 %

 

 
(1) Expected holding period is based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and the expectations of future employee behavior.
(2) Weighted average volatility is based on the historical volatility of our common stock.
(3) Estimated forfeiture rates are based on historical data.