v3.25.2
COMMON STOCK AND STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock by Class
Common stock reserved for issuance at June 30, 2025 and December 31, 2024, was as follows:
 June 30,
2025
December 31,
2024
Warrants outstanding for future issuance of Common stock881,007729,166
Stock options and restricted stock units438,384353,908
Stock options and restricted stock units available for future issuance285,34134,934
Total shares of Common stock reserved1,604,7321,118,008
Schedule of Option Award Activity for Service-Based Stock Options Granted
Option award activity for service-based stock options granted at June 30, 2025, was as follows:
 Number of
 options
 outstanding
Weighted-
 Average
 Exercise Price
Weighted-
 Average
 Remaining
 Contractual
 Life (Years)
Aggregate
 Intrinsic Value
 (in thousand)
Balances at January 1, 2025
304,245$31.60 9.5$802 
Granted70,8595.90 — 
Exercised— — 
Expired(3,076)87.40 — 
Forfeited— — 
Balances at June 30, 2025372,028$26.16 9.2$— 
Vested and exercisable at June 30, 2025179,314$47.17 8.9$— 
Option award activity for performance milestone-based stock options granted at June 30, 2025, was as follows:
 Number of
 options
 outstanding
Weighted-
 Average
 Exercise
 Price
Weighted-
 Average
 Remaining Contractual
 Life
 (Years)
Aggregate
 Intrinsic
 Value
 (in thousands)
Balances at January 1, 2025
5,106$417.00 5.6$— 
Granted— — 
Exercised— — 
Expired— — 
Forfeited— — 
Balances at June 30, 20255,106$417.00 5.1$— 
Vested and exercisable at June 30, 20251,702$417.00 5.1$— 
Schedule of RSU Activity
A summary of the Company’s RSU activity and related information is as follows:
 Number of
 RSUs
 Outstanding
Weighted-Average
 Grant Date
 Fair Value
 Per Share
Balances at January 1, 202544,520$193.80 
Granted36,0736.14 
Vested(15,366)86.31 
Forfeited(3,977)180.00 
Balances at June 30, 202561,250$116.75 
Schedule of Stock-Based Compensation Expense
The following table summarizes stock-based compensation expense recorded in each component of operating expenses in the Company’s interim condensed consolidated statements of operations and comprehensive loss (in thousands):
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2025202420252024
Research and development$70 $— $197 $— 
Sales and marketing12 — 21 — 
General and administrative1,481 97 3,476 195 
Total stock-based compensation expense$1,563 $97 $3,694 $195