Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Stock-Based Compensation [Abstract]  
Schedule of Summarizes Activity for Stock Options under all Plans

The following table summarizes activity for stock options under all plans for the six months ended June 30, 2025:

 

                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, 2024     1,367,114     $ 10.01       8.59     $ 705  
Options granted     57,100     $ 5.95       9.83     $
-
 
Options forfeited     (3,500 )   $ 5.70      
-
    $
-
 
Options exercised    
-
    $
-
     
-
    $
-
 
Outstanding, June 30, 2025     1,420,714     $ 9.86       8.16     $ 5,410  
                                 
Options vested and exercisable as of June 30, 2025     725,525     $ 11.47       7.82     $ 2,662  
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, 2024 and 2025 (in thousands):

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2024     2025     2024     2025  
                         
Research and development   $ 282     $ 259     $ 510     $ 523  
General and administrative     359       312       653       611  
Total stock-based compensation   $ 641     $ 571     $ 1,163     $ 1,134  
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 three months ended June 30, 2024 and June 30, 2025:

 

    Six Months Ended  
    June 30,  
    2024     2025  
             
Expected volatility     104%       107.44% - 108.54% %
Risk-free interest rate     4.49% - 4.65%       3.75% - 4.38 %
Dividend yield     -       - %
Expected term     6.25 years       6.25 years