v3.25.4
TEMPORARY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
TEMPORARY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY    
Schedule of common stock reserved for issuance

September 30, 

  ​ ​ ​

2025

Warrants

107,813

Awards outstanding under the 2017 and 2007 Equity Incentive Plans

5,856,563

Awards outstanding under the 2024 Equity Plan

1,315,430

Shares available for future issuance under the convertible debt note

6,477,174

Shares available for future issuance under equity line-of-credit agreement

4,562,859

Shares available for future issuance under the 2024 Equity Incentive Plan

1,218,964

Shares authorized and available for future issuance

53,978,749

Total shares reserved and available for future issuance of common stock

73,517,552

December 31, 

December 31, 

  ​ ​ ​

2024

  ​ ​ ​

2023

Conversion of outstanding shares of Series A Preferred Stock

3,874,946

Conversion of outstanding shares of NCNV Preferred Stock 1 and 3

103,952

Warrants

93,750

Awards outstanding under the 2017 and 2007 Equity Incentive Plans

5,984,204

948,464

Shares available for future issuance under the 2024 Equity Incentive Plan

2,708,175

7,795,733

Shares authorized and available for future issuance

68,364,493

436,161

Total reserved shares of common stock

77,150,622

13,159,256

Schedule of temporary redeemable preferred stock

NCNV Preferred

NCNV Preferred

NCNV Preferred

Stock 1

Stock 2

Stock 3

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Shares

  ​ ​ ​

Amount

Balance at January 1, 2024

 

55,312

$

55,312

 

$

48,640

$

48,640

Cancellation of NCNV 1 Preferred Stock

(562)

(562)

Issuance of NCNV 2 Preferred Stock in exchange for Debt Forgiveness

5,752

5,752

Reduction of the original issue price from $1,000 to $600 per share

(21,900)

(2,301)

(19,455)

Balance at September 30, 2024:

 

54,750

$

32,850

 

5,752

$

3,451

48,640

$

29,185

Activity for both the Series A and NCNV preferred stock for the years ended December 31, 2024 and 2023 was as follows (in thousands, except share data):

Series A Preferred Stock

NCNV Preferred Stock

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Shares

  ​ ​ ​

Amount

Balance at December 31, 2022:

 

3,874,946

$

3,000

 

67,034

$

61,131

Accretion of NCNV preferred stock

 

 

 

 

5,903

Cancellation of NCNV preferred stock

(67,034)

(67,034)

Balance at December 31, 2023:

 

3,874,946

$

3,000

 

$

Conversion of Series A Temporary Preferred Stock into common stock

 

(3,874,946)

 

(3,000)

 

 

Balance at December 31, 2024:

 

$

 

$

NCNV Preferred

NCNV Preferred

NCNV Preferred

Stock 1

Stock 2

Stock 3

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Shares

  ​ ​ ​

Amount

Balance at December 31, 2022:

 

$

 

$

$

Conversion of NCNV Preferred Stock 1 for NCNV Preferred Stock 1

67,034

67,034

Exchange of NCNV Preferred Stock 1 for NCNV Preferred Stock 3

(11,722)

(11,722)

11,722

11,722

Issuance of Preferred Stock in exchange for Debt Forgiveness

36,918

36,918

Balance at December 31, 2023:

 

55,312

$

55,312

 

$

48,640

$

48,640

Cancellation of NCNV 1 Preferred Stock

 

(562)

(562)

 

Issuance of NCNV 2 Preferred Stock in exchange for Debt Forgiveness

 

 

 

5,752

 

5,752

 

Reduction of the original issue price from $1,000 to $600 per share

(21,900)

(2,301)

(19,455)

Conversion of NCNV 1, 2 and 3 Preferred Stock into common stock

(54,750)

(32,850)

(5,752)

(3,451)

(48,640)

(29,185)

Balance at December 31, 2024:

 

$

 

$

$