Stock Compensation Plan (Tables)

9 Months Ended

Sep. 30, 2024

Stock Compensation Plan

Schedule of Company's Stock Options

The following table sets forth the activity for the Company’s stock options during the periods presented:

	Number of Options			Weighted- Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2023		2,766,000		$	1.91		8.4	$	231,000
Granted		—		$	—
Forfeited		(35,000	)	$	2.00
Outstanding as of September 30, 2024		2,731,000		$	1.90		7.6	$	2,392,680
Exercisable as of September 30, 2024		2,174,302		$	1.88		7.6	$	1,957,708
Vested or expected to vest as of September 30, 2024		2,731,000		$	1.90		7.6	$	2,392,680

Schedule of Summarizes Vesting of Restricted Common Stock

The following table summarizes vesting of restricted common stock:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Unvested as of December 31, 2023		4,489,186		$	1.42
Granted		2,078,466		$	2.23
Vested		(2,503,420	)	$	1.33
Forfeited and retired		(325,000	)	$	1.19
Unvested as of September 30, 2024		3,739,232		$	2.05

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for all stock awards recognized in the accompanying consolidated statements of operations and comprehensive loss is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Selling, general and administrative	$	1,985,471	$	1,978,904	$	6,052,357	$	6,311,890
Research and development		82,619		92,886		247,403		278,686
Total	$	2,068,090	$	2,071,790	$	6,299,760	$	6,590,576