Weighted average remaining contractual life (in years)
Aggregate intrinsic value (in thousands)
Outstanding as of December 31, 2022
2,548,849
$ 3.32
8.4
$ 618
Outstanding as of March 31, 2023
2,548,849
$ 3.32
8.1
$ 124
Outstanding as of June 30, 2023
2,548,849
$ 3.32
7.9
$ 46
Options vested and exercisable as of June 30, 2023
1,956,237
$ 3.71
7.6
$ 46
The following table summarizes the Company’s recognition of stock-based compensation for the following periods (in thousands):
Three months ended June 30, | Six months ended June 30, | |||||||||||
| 2023 |
| 2022 |
| 2023 |
| 2022 | |||||
Stock-based compensation expense |
|
|
|
|
|
|
|
| ||||
General and administrative | $ | 443 | $ | 768 | $ | 1,034 | $ | 1,884 | ||||
Research and development |
| 101 |
| 219 |
| 205 |
| 437 | ||||
Total stock-based compensation expense | $ | 544 | $ | 987 | $ | 1,239 | $ | 2,321 |
Awards | Weighted Average Grant Date Fair Value | |||
Balance as of December 31, 2022 | 1,000,000 | $ 0.57 | ||
Unvested Balance as of June 30, 2023 | 1,000,000 | $ 0.57 |