Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.24.2.u1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Activity

The following summarizes activity related to the Company's stock options (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted Average
Exercise Price

 

 

Weighted Average
Remaining Contract
Term (in years)

 

 

Aggregate Intrinsic Value

 

Outstanding - December 31, 2023

 

 

24,435

 

 

$

0.32

 

 

 

4.4

 

 

$

6

 

Granted

 

 

14,100

 

 

 

0.05

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(11,687

)

 

 

0.42

 

 

 

 

 

 

 

Outstanding - June 30, 2024

 

 

26,848

 

 

 

0.14

 

 

 

8.9

 

 

 

230

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable - June 30, 2024

 

 

7,680

 

 

 

0.36

 

 

 

7.0

 

 

 

64

 

Vested or expected to vest - June 30, 2024

 

 

26,848

 

 

$

0.14

 

 

 

8.9

 

 

$

230

 

Summary of Weighted-Average Assumptions Used to Estimate Fair Value

The following table presents the weighted average grant date fair value of stock options granted and the weighted-average assumptions used to estimate the fair value on the date of grant using the Black-Scholes valuation model:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Volatility

 

 

138.1

%

 

 

136.0

%

 

 

138.1

%

 

 

132.0

%

Risk-Free Interest Rate

 

 

4.3

%

 

 

3.5

%

 

 

4.3

%

 

 

3.8

%

Expected Term (in years)

 

 

5.75

 

 

 

5.04

 

 

 

5.75

 

 

 

5.77

 

Dividend Rate

 

 

%

 

 

%

 

 

%

 

 

%

Weighted Average Fair Value Per Share on Grant Date

 

$

0.05

 

 

$

0.04

 

 

$

0.05

 

 

$

0.04