v3.25.4
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Compensation  
Schedule of share-based compensation expense category

Year Ended December 31, 

(in thousands)

2025

  ​ ​ ​

2024

Research and development

$

842

$

2,529

General and administrative

 

2,159

 

3,291

$

3,001

$

5,820

Schedule of stock option activity plan

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Weighted

Weighted

average

average

remaining

Number of

exercise price

contractual

shares

per share

term (years)

Outstanding at January 1, 2025

 

577,581

 

$

77.56

 

7.5

Granted

 

248,208

7.78

 

  ​

Exercised

 

 

  ​

Forfeited

 

(125,526)

82.56

 

  ​

Expired

(41,290)

175.24

Outstanding at December 31, 2025

 

658,973

$

44.20

 

7.1

Vested and exercisable at December 31, 2025

 

357,766

$

78.82

 

5.6

Vested or expected to vest at December 31, 2025

 

658,973

$

44.20

 

7.1

Schedule of weighted average assumptions applied to options

Year Ended December 31, 

2025

2024

Expected volatility

93.7

%  

88.4

%

Risk‑free interest rate

4.1

%

4.2

%

Expected term

5.9

years

6.0

years

Expected dividend yield

Schedule of activity related to restricted stock unit

  ​ ​ ​

  ​ ​ ​

Weighted average

 

Number of shares

 

grant date fair value

Unvested balance at January 1, 2025

 

7,093

 

$

44.80

Granted

 

60,000

 

11.70

Vested

(16,825)

27.92

Forfeited

 

(268)

 

90.40

Unvested balance at December 31, 2025

 

50,000

 

$

10.52