Quarterly report pursuant to Section 13 or 15(d)

Stock Plans (Tables)

v3.23.3
Stock Plans (Tables)
9 Months Ended
Sep. 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     1,475       0.93       -       235  
Forfeited or expired     (91 )     23.01       -       -  
Outstanding at September 30, 2023     2,311       2.89       8.84       213  
Exercisable at September 30, 2023     2,311       2.89       8.84       213  
Schedule of the stock-based compensation expense
                               
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
(in thousands)   2023     2022     2023     2022  
Research and development   $ 52     $ 306     $ 106     $ 553  
Selling, general and administrative     359       217       859       414  
Total stock-based compensation   $ 411     $ 523     $ 965     $ 967  
Schedule of assumptions to estimate the fair value of options
                               
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2023     2022     2023     2022  
Weighted-average risk-free interest rate     4.08 %     - %     4.06 %     1.91 %
Expected dividend payments     -       -       -       -  
Expected holding period (years)1     4.8       -       5.3       5.3  
Weighted-average volatility factor2     1.14       -       1.10       1.16  
Estimated forfeiture rates for options granted3     7.5 %     - %     7.0 %     5.6 %

 

 
(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.