​

​

December 31,

​

​

2023

Risk-free interest rate

3.93

%  

Expected dividend yield

—

Expected term in years

0.5

Expected volatility

153.6

%  

​

​

Warrants

($ in thousands)

liabilities

Balance at December 31, 2022

​

$

13,869

Avenue common stock warrants

​

​

2,235

Urica placement agent warrants

​

​

33

Change in fair value of common stock warrants - Avenue

​

​

(4,258)

Change in fair value of common stock warrants - Checkpoint

​

​

(7,924)

Change in fair value of placement agent warrants - Urica

​

​

52

Exercise of common stock warrants - Checkpoint

​

​

(3,121)

Balance at December 31, 2023

​

​

886

Change in fair value of common stock warrants - Avenue

​

​

(170)

Change in fair value of common stock warrants - Checkpoint

​

​

73

Change in fair value of placement agent warrants - Urica

​

​

(24)

Exercise of common stock warrants - Avenue

​

​

(400)

Exchange of common stock warrants - Urica

​

​

(151)

Balance at December 31, 2024

​

$

214

​

​

Checkpoint

​

​

Warrant

($ in thousands)

​

Liability

Common Stock Warrant liabilities at December 31, 2022

​

$

11,170

Change in fair value of common stock warrant liabilities

​

​

(7,924)

Exercise of common stock warrants

​

​

(3,121)

Common Stock Warrant liabilities at December 31, 2023

​

​

125

Change in fair value of common stock warrant liabilities

​

​

73

Common Stock Warrant liabilities at December 31, 2024

​

$

198

​

​

Avenue

​

​

Warrant

($ in thousands)

​

Liability

Avenue common stock warrant liabilities at December 31, 2022

​

$

2,609

Issuance of common warrants

​

​

2,235

Change in fair value of common stock warrant liabilities

​

​

(4,258)

Avenue common stock warrant liabilities at December 31, 2023

​

​

586

Exercise of Avenue common warrants

​

​

(400)

Change in fair value of common stock warrant liabilities

​

​

(170)

Avenue common stock warrant liabilities at December 31, 2024

​

$

16