v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Option Activity

A summary of option activity under the 2021 Plan during the six-month periods ended June 30, 2025 and 2024 is as follows:

 

           Weighted-Average   Aggregate 
       Weighted-Average   Remaining Contractual  

Intrinsic

 
   Shares   Exercise Price   Term (years)   Value 
Outstanding at January 1, 2024   4,821                
Granted   15,994   $14.15    9.93    - 
Exercised   -                
Forfeitures or expirations   (628)               
Outstanding at March 31, 2024   20,187                
Granted   69,038    13.44    9.95      
Exercised   -                
Forfeitures or expirations   -                
Outstanding at June 30, 2024   89,225                
                     
Vested and expected to vest at June 30, 2024   89,225                
Exercisable at June 30, 2024   2,643                
                     
Outstanding at January 1, 2025   89,406                
Granted   248,428   $4.44    9.87    - 
Exercised   -                
Forfeitures or expirations   -                
Outstanding at March 31, 2025   337,834                
Granted   61,005    4.14    9.98      
Exercised   -                
Forfeitures or expirations   -                
Outstanding at June 30, 2025   398,839                
                     
Vested and expected to vest at June 30, 2025   398,839                
Exercisable at June 30, 2025   131,986                
Schedule of Fair Value Assumption

 

   June 30,   June 30, 
   2025   2024 
Risk-free interest rate   4.35%   4.32%
Expected term (in years)   5.73    5.42 
Expected volatility   1.58    1.44 
Expected dividend yield   0%   0%