v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Stock-Based Compensation  
Schedule of cost related to stock-based compensation

Total stock-based compensation related to option issuances was as follows:

    

Three Months Ended June 30, 

    

Six Months Ended June 30, 

(in thousands)

2025

    

2024

2025

    

2024

Research and development

$

666

$

308

$

1,273

$

817

Selling, general and administrative

 

692

 

710

 

1,331

 

1,191

Total stock-based compensation

$

1,358

$

1,018

$

2,604

$

2,008

Total stock-based compensation related to restricted stock awards and restricted stock units was as follows:

    

Three Months Ended June 30, 

    

Six Months Ended June 30, 

(in thousands)

2025

    

2024

2025

    

2024

Research and development

$

528

$

392

$

993

$

739

Selling, general and administrative

 

1,036

 

1,086

 

1,986

 

2,073

Total stock-based compensation

$

1,564

$

1,478

$

2,979

$

2,812

Total stock-based compensation related to warrants was as follows:

    

Three Months Ended June 30, 

    

Six Months Ended June 30, 

(in thousands)

2025

    

2024

2025

    

2024

Research and development

$

121

$

121

$

241

$

241

Selling, general and administrative

 

207

 

144

 

391

 

288

Total stock-based compensation

$

328

$

265

$

632

$

529

Schedule of stock option activity

    

    

Weighted

    

Weighted

    

Shares

Average

Average

Aggregate

Underlying

Exercise

Remaining

Intrinsic

Options

Price

Term (years)

Value

Outstanding at January 1, 2025

5,696,845

 

$

7.17

 

7.39

$

3,000

Granted

 

1,438,524

 

3.06

 

 

Exercised

 

(28,251)

 

4.41

 

 

33,011

Forfeited/canceled

 

(143,353)

 

6.69

 

 

Outstanding June 30, 2025

 

6,963,765

 

$

6.34

 

7.56

$

1,770

Exercisable at June 30, 2025

 

4,072,270

 

$

7.54

 

6.36

$

Schedule of restricted stock activity

Restricted Stock

Weighted Average

Awards/Units

Grant Date Fair

Outstanding

Value

Outstanding at January 1, 2025

2,094,584

$

6.54

Granted

682,365

2.85

Vested

(625,414)

6.95

Outstanding June 30, 2025

2,151,535

$

5.26

Schedule of estimated grant-date fair value calculated using Black-Scholes option pricing model

    

Six Months Ended June 30, 

 

2025

2024

 

Expected term (in years)

 

6.08

 

6.15

Expected volatility

 

80

%  

71

%

Risk-free interest rate

 

3.92

%  

4.44

%

Expected dividend yield

 

0

%  

0

%

Fair value of common stock

3.06

5.29