Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Stock-Based Compensation [Abstract]  
Schedule of Activity for Stock Options

The following table summarizes activity for stock options under all plans for the six months ended June 30, 2026:

 

                Weighted-        
    Number of           Average        
    Shares     Weighted-     Remaining     Aggregate  
    Underlying     Average     Contractual     Intrinsic  
    Outstanding     Exercise     Term     Value  
    Options     Price     (in Years)     (in thousands)  
Outstanding, December 31, 2025     2,033,114     $ 8.31       8.23     $ 10,347  
Options granted     -     $ -       -     $ -  
Options forfeited     (64,200 )   $ -       -     $ -  
Options exercised     -     $ -       -     $ -  
Outstanding, June 30, 2026     1,968,914     $ 8.38       7.71     $ 7,899  
                                 
Options vested and exercisable as of June 30, 2026     1,038,929     $ 10.31       6.55     $ 3,823  
Schedule of Stock-Based Compensation Expense

The Company has recorded stock-based compensation expense, which includes expense related to restricted stock units, allocated by functional cost as follows for the three and six months ended June 30, 2025, and 2026 (in thousands):

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2025     2026     2025     2026  
                         
Research and development   $ 259     $ 1,126     $ 523     $ 1,470  
General and administrative     312       1,752       611       2,161  
Total stock-based compensation   $ 571     $ 2,878     $ 1,134     $ 3,631  
Schedule of Fair Value of Awards Granted

The following averaged assumptions were used to calculate the fair value of awards granted to employees, directors and non-employees for the six months ended June 30, 2025 and June 30, 2026:

 

    Six Months
Ended
June 30,
2025
    Six Months
Ended
June 30,
2026
 
                 
Expected volatility     107.44% - 108.54 %     107.44% - 116.54 %
Risk-free interest rate     3.75% - 4.38 %     3.75% - 4.38 %
Dividend yield     - %     - %
Expected term     6.25 years       5.50 years - 6.25 years