Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation [Abstract]

Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity:

	Restricted Stock Units			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2022		196,838		$	12.49
Granted		165,100			3.02
Forfeited		(30,731	)		4.35
Vested		(94,528	)		12.16
Non-vested at December 31, 2023		236,679		$	7.07

Schedule of the Fair Value of Stock Options Granted

The Company determined the fair value of stock options granted utilizing the Black-Scholes valuation model and based upon the assumptions as provided below:

	For the Years Ended December 31,
	2023			2022
Exercise price		$1.20 - $3.91			$2.77 - $6.90
Dividend yield		0.00	%		0.00	%
Expected volatility		90.00% - 98.00	%		92.00% - 99.00	%
Risk-free interest rate		3.46% - 4.73	%		1.46% - 4.23	%
Expected life (in years)		5.27 - 6.08			5.27 - 6.08

Schedule of Stock Option Activities

The following table summarizes stock option activities for the year ended December 31, 2023:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (1)
Outstanding at December 31, 2022		1,828,329		$	14.23		8.16	$	-
Granted		1,310,900			2.99
Exercised		-			-
Forfeited		(157,523	)		6.83
Expired		(81,501	)		15.94
Outstanding at December 31, 2023		2,900,205		$	9.50		8.03	$	20
Vested or expected to vest at December 31, 2023		2,900,205		$	9.50		8.03	$	20
Exercisable as of December, 31 2023		1,242,111		$	15.48		7.08	$	-

(1) Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on December 31, 2023. The intrinsic value of options exercised during the years ended December 31, 2023 and 2022 was $0 and no options were exercised.

Schedule of Total Stock-Based Compensation Costs

The following tables summarize total stock-based compensation costs recognized:

	For the Years Ended December 31,
	2023		2022
RSUs	$	1,208	$	1,272
Stock options		4,884		5,416
Total	$	6,092	$	6,688

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense was reflected within the consolidated statements of operations and comprehensive loss:

	For the Years Ended December 31,
	2023		2022
Research and development	$	1,653	$	1,511
General and administrative		4,439		5,177
Total	$	6,092	$	6,688