v3.25.2
Stock-Based Compensation
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

Note 5. Stock-Based Compensation

As of June 30, 2025, the Company has two stock-based compensation plans. The stock-based compensation cost that has been included in the statements of operations and comprehensive loss is shown as below (in thousands):

 

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

92

 

 

$

164

 

 

$

225

 

 

$

376

 

Selling, general and administrative

 

 

305

 

 

 

260

 

 

 

624

 

 

 

545

 

Total stock-based compensation

 

$

397

 

 

$

424

 

 

$

849

 

 

$

921

 

 

The Company uses the Black-Scholes option pricing model to value its stock options. The expected life computation is based on historical exercise patterns and post-vesting termination behavior. The Company considered its historical volatility in developing its estimate of expected volatility.

The Company used the following assumptions to estimate the fair value of shares purchased under its employee stock purchase plan for the three and six months ended June 30, 2025 and 2024. There were no stock options granted for the three and six months ended June 30, 2024.

 

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Stock Options

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free rate

 

 

3.98

%

 

 

 

 

 

3.98

%

 

 

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Expected life (in years)

 

 

7.0

 

 

 

 

 

 

7.0

 

 

 

 

Volatility

 

 

106

%

 

 

 

 

 

106

%

 

 

 

 

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Employee Stock Purchase Plan

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free rate

 

 

4.22

%

 

 

5.43

%

 

4.22 - 4.42%

 

 

5.43 - 5.50%

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Expected life (in years)

 

0.5

 

 

0.5

 

 

0.5

 

 

0.5

 

Volatility

 

 

78

%

 

 

246

%

 

78 - 95%

 

 

 

246

%