Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.25.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 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 nine months ended September 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     669,500     $ 4.81       9.81     $
-
 
Options forfeited     (3,500 )   $ 5.70      
-
    $
-
 
Options exercised    
-
    $
-
     
-
    $
-
 
Outstanding, September 30, 2025     2,033,114     $ 8.31       8.48     $ 7,509  
                                 
Options vested and exercisable as of September 30, 2025     816,875     $ 11.04       7.35     $ 2,705  
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 nine months ended September 30, 2024 and 2025 (in thousands):

 

    Three Months Ended     Nine months ended  
    September 30,     September 30,  
    2024     2025     2024     2025  
                         
Research and development   $ 275     $ 326     $ 785     $ 849  
General and administrative     330       403       983       1,014  
Total stock-based compensation   $ 605     $ 729     $ 1,768     $ 1,863  
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 September 30, 2024 and September 30, 2025:

 

    Nine months ended  
    September 30,  
    2024     2025  
             
Expected volatility     104%-106 %     107.44% - 116.14 %
Risk-free interest rate     3.77% - 4.65 %     3.75% - 4.38 %
Dividend yield     - %    
-
%
Expected term     6.25 years       6.25 years