v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity for Amended 2014 Plan and Related Information
The table below summarizes stock option activity under the Company's stock incentive plans and related information for the three months ended March 31, 2025. The exercise price of all options granted during the three months ended March 31, 2025 was equal to the market value of the Company’s common stock on the date of grant. As of March 31, 2025, unamortized stock-based compensation expense of approximately $2.5 million will be amortized over a weighted average period of 1.27 years. The number of shares of common stock available for future awards granted under the 2022 Plan as of March 31, 2025 was 230,075.
Number of SharesWeighted Average
Exercise Price
Outstanding at December 31, 2024883,334 $14.58 
Granted293,550 3.27 
Exercised— 
Cancelled/forfeited(765)3.18 
Expired(57,109)17.92 
Outstanding at March 31, 20251,119,010 $11.45 
Exercisable at March 31, 2025579,484 $16.42 
Summary of Recognized Stock-Based Compensation Expense Related to Stock Options Granted to Employees and Directors
Total stock-based compensation expense related to stock options granted to employees and directors recognized in the condensed consolidated statements of operations and comprehensive loss is as follows:
Three Months Ended
March 31,
 20252024
Research and development$167,058 $206,602 
General and administrative$210,299 $421,098 
Total$377,357 $627,700