| Summary of Assumptions Used to Compute Fair Value |
The
following table summarizes assumptions used to compute the fair value of options granted:
Summary
of Assumptions Used to Compute Fair Value
| | |
June 30, 2024 | | |
June 30, 2023 | |
| Stock price | |
| $0.29
- 0.61 | | |
| $8.22
- 9.56 | |
| Exercise price | |
| $0.29
- 5.00 | | |
$ | 11.98 | |
| Expected volatility | |
| 75.00
- 85.00 | % | |
| 80.00
- 99.03 | % |
| Expected term (in years) | |
| 5.75
- 10.00 | | |
| 5.25
- 6.08 | |
| Risk-free interest rate | |
| 4.20
- 4.50 | % | |
| 3.46
- 4.31 | % |
|
The
following table summarizes assumptions used to compute the fair value of options granted:
Summary of Assumptions Used to Compute Fair Value
| | |
December 31,
2023 | | |
December 31,
2022 | |
| Stock price | |
$ | 8.38 - 11.98 | | |
$ | 1.54 | |
| Exercise price | |
$ | 8.38 - 11.98 | | |
$ | 1.04 | |
| Expected volatility | |
| 80.00 - 110.95 | % | |
| 53.61
- 55.30 | % |
| Expected term (in years) | |
| 5.00 - 6.08 | | |
| 5.94 - 6.08 | |
| Risk-free interest rate | |
| 3.46 - 4.31 | % | |
| 1.95 - 2.85 | % |
|
| Summary of Stock Option Activity |
A
summary of stock option activity under the Plan is as follows:
Summary
of Stock Option Activity
| | |
Shares
Underlying
Options | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Remaining
Contractual
Term
(in years) | | |
Intrinsic
Value | |
| Outstanding at December 31, 2023 | |
| 14,962 | | |
$ | 293.50 | | |
| 8.43 | | |
$ | 103,662 | |
| Granted | |
| 27,970 | | |
| 145.70 | | |
| 9.87 | | |
| | |
| Exercised | |
| — | | |
| — | | |
| | | |
| | |
| Expired | |
| — | | |
| — | | |
| | | |
| | |
| Forfeited | |
| (9,283 | ) | |
| 239.11 | | |
| | | |
| | |
| Outstanding at June 30, 2024 | |
| 33,649 | | |
$ | 185.69 | | |
| 9.17 | | |
$ | 1,807 | |
| Exercisable at June 30, 2024 | |
| 8,675 | | |
$ | 248.23 | | |
| 8.34 | | |
$ | 1,807 | |
|
A
summary of stock option activity under the Plan is as follows:
Summary of Stock Option Activity
| | |
Shares
Underlying
Options | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Remaining
Contractual
Term (in
years) | | |
Intrinsic
Value | |
| Outstanding at December 31, 2021 | |
| 14,634 | | |
$ | 57.50 | | |
| 7.20 | | |
$ | 369,102 | |
| Retroactive application of recapitalization (Note 4) | |
| (6,024 | ) | |
| 36.05 | | |
| | | |
| | |
| Outstanding at December 31, 2021, after effect of Merger (Note 4) | |
| 9,610 | | |
| 93.55 | | |
| | | |
| | |
| Granted | |
| 4,702 | | |
| 138.50 | | |
| | | |
| | |
| Exercised | |
| (171 | ) | |
| 62.00 | | |
| | | |
| 10,835 | |
| Expired | |
| (2,411 | ) | |
| 69.00 | | |
| | | |
| | |
| Forfeited | |
| (4,310 | ) | |
| 129.50 | | |
| | | |
| | |
| Outstanding at December 31, 2022 | |
| 7,420 | | |
$ | 106.44 | | |
| 7.95 | | |
$ | 3,433,946 | |
| Granted | |
| 16,440 | | |
| 500.50 | | |
| | | |
| | |
| Exercised | |
| (353 | ) | |
| 109.56 | | |
| | | |
| 4,440 | |
| Expired | |
| (258 | ) | |
| 598.50 | | |
| | | |
| | |
| Forfeited | |
| (8,287 | ) | |
| 538.00 | | |
| | | |
| | |
| Outstanding at December 31, 2023 | |
| 14,962 | | |
$ | 293.50 | | |
| 8.43 | | |
$ | 103,662 | |
| Exercisable at December 31, 2023 | |
| 6,900 | | |
$ | 211.50 | | |
| 7.56 | | |
$ | 103,251 | |
|
| Summary of Activity with Respect Status of, RSUs |
A
summary of the activity with respect to, and status of, RSUs during the six months ended June 30, 2024 is presented below:
Summary
of Activity with Respect Status of, RSUs
| | |
Units | | |
Weighted Average
Grant Date
Fair Value | |
| Outstanding at December 31, 2023 | |
| — | | |
$ | — | |
| Granted | |
| 17,851 | | |
| 26.64 | |
| Vested | |
| — | | |
| — | |
| Forfeited | |
| (293 | ) | |
| 14.65 | |
| Outstanding at June 30, 2024 | |
| 17,558 | | |
$ | 26.84 | |
|
|