v3.25.2
Equity (Tables)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Summary of Share-based Compensation Expense

Share-based compensation expense was as follows for the three and six months ended June 30, 2025 and 2024 (in thousands):

 

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

3

 

 

$

207

 

 

$

18

 

 

$

462

 

General and administrative

 

 

87

 

 

 

516

 

 

 

209

 

 

 

1,136

 

 

$

90

 

 

$

723

 

 

$

227

 

 

$

1,598

 

Summary of Activity Related to Stock Option Grants

The following table summarizes the activity related to stock option grants for the six months ended June 30, 2025:

 

 

 

Shares

 

 

Weighted
average
exercise
price per
share

 

 

Weighted-
average
remaining
contractual
life (years)

 

Outstanding at January 1, 2025

 

 

4,384,108

 

 

$

6.01

 

 

 

4.0

 

Granted

 

 

8,488,000

 

 

 

0.02

 

 

 

 

Forfeited/Expired

 

 

(1,756,041

)

 

 

6.57

 

 

 

 

Outstanding at June 30, 2025

 

 

11,116,067

 

 

$

1.35

 

 

 

8.6

 

Vested and exercisable at June 30, 2025

 

 

2,562,871

 

 

$

5.58

 

 

 

4.7

 

Vested and expected to vest at June 30, 2025

 

 

11,116,067

 

 

$

1.35

 

 

 

8.6

 

Summary of Fair Value of Each Option Grant Estimated Throughout Year Using Black-Scholes Option-pricing Model There were no options granted during the six months ended June 30, 2024.

 

 

 

Six months ended
June 30,

 

 

 

2025

 

Expected term (in years)

 

 

6.2

 

Expected stock price volatility

 

 

112.3

%

Risk-free interest rate

 

 

3.93

%

Expected dividend yield

 

 

0

%