Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense is presented in the same expense line items as cash compensation paid and for the three and six months ended June 30 is as follows:
Three months ended June 30 Six months ended June 30
2024 2023 2024 2023
Research and Development $ 94,092  $ 66,226  $ 188,663  $ 130,913 
General and Administrative 55,703  105,569  136,575  176,823 
Total Stock-Based Compensation Expense $ 149,795  $ 171,795  $ 325,238  $ 307,736 
Schedule of Weighted Average Assumptions A summary of the Company’s assumptions used in determining the fair value of the stock options granted during the six months
ended June 30, 2024 and 2023 is shown in the following table. Note there were no options granted during the six months ended June 30, 2024:
Six months ended June 30
2024 2023
Risk-Free Interest Rate N/A 4.26  %
Expected Life (years) N/A 5.00
Expected Stock Price Volatility N/A 142  %
Expected Dividend Yield —  % —  %
Schedule of Stock Option Activity
Following is a summary of stock option activity for the six months ended June 30, 2024:
Number of
Options		 Weighted- Average
Exercise Price		 Weighted- Average
Remaining
Term in Years
Outstanding at December 31, 2023 90,382 $ 41.43  9.29
Expired (423) $ 980.89 
Forfeited (966) $ 8.37 
Outstanding at June 30, 2024 88,993 $ 37.32  8.93
Exercisable and vested at June 30, 2024 27,701 $ 96.70  8.59
Schedule of Restricted Stock Activity The following is a summary of restricted stock activity for the six months ended June 30, 2024:
Number of
Units		 Weighted- Average
Grant Date Fair Value		 Weighted- Average
Remaining
Term in Years
Non-vested Outstanding at December 31, 2023 25,493 $ 14.75  2.57
Released (1,371) $ 34.45 
Forfeited (28) $ 34.20 
Non-vested Outstanding at June 30, 2024 24,094 $ 13.60  2.09