SHARE-BASED COMPENSATION (Tables)

For the years ended December 31, 2024 and 2023, the Company granted options and RSUs to employees and directors as follows:

Year ended December 31, 2024

Award amount

Exercise price range

Vesting period

Expiration

Options

870,000

$1.96 - $2.40

1 year - 4 years

10 years

RSUs

435,000

—

4 years

—

Year ended December 31, 2023

Award amount

Exercise price range

Vesting period

Expiration

Options

535,000

$2.70

1 year - 4 years

10 years

RSUs

435,000

—

4 years

—

The underlying data used for computing the fair value of the options are as follows:


	Year ended December 31,
	2024		2023
Exercise price	$1.96 - $2.40		$2.70
Dividend yield	—	%	—	%
Expected volatility	104.00% - 105.73%		104.42% - 105.64%
Risk-free interest rate	3.95% - 4.32%		4.04%
Expected term	6 years		6 years

The following table summarizes stock option activity for the year ended December 31, 2024:


	Number of options	Weighted Average Exercise Price









Outstanding at December 31, 2023	744,537	$	40.65
Granted	870,000	2.27

Forfeited	(25,572)	2.94
Expired	(4,661)	222.61

Outstanding at December 31, 2024	1,584,304	$	19.65
Exercisable at December 31, 2024	397,143	$	70.32

The following table summarizes RSU activity for the year ended December 31, 2024:


	Number of RSUs	Weighted Average Grant Date Fair Value











Outstanding at December 31, 2023	460,979	$	4.99
Awarded	435,000	2.33
Vested	(119,724)	9.76
Forfeited	(25,540)	2.79

Outstanding at December 31, 2024	750,715	$	2.77

The following table illustrates the allocation of share-based compensation expense on the line items on the statements of operations and comprehensive loss:


	Year ended December 31,
(in thousands)	2024		2023

Research and development	$	548	$	534
General and administrative	2,755		2,771

Total	$	3,303	$	3,305