v3.26.1
SHARE CAPITAL (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
SUMMARY OF STOCK OPTION ACTIVITY

  

  

For the Year Ended

December 31, 2025

 
   Number of stock options   Weighted average exercise price 
         
Outstanding as of December 31, 2024   2,497,366   $4.70 
Granted   781,875    2.12 
Exercised   (47,218)   0.01 
Forfeitures   (126,408)   3.30 
Outstanding as of December 31, 2025   3,105,615   $4.18 
           
Exercisable as of December 31, 2025   2,342,707   $4.91 

 

  

For the Year Ended

December 31, 2024

 
   Number of stock options   Weighted average exercise price 
         
Outstanding as of December 31, 2023   2,095,362   $5.51 
Granted   562,067    1.24 
Forfeitures   (160,063)   3.23 
Outstanding as of December 31, 2024   2,497,366   $4.70 
           
Exercisable as of December 31, 2024   1,866,523   $5.63 
SCHEDULE OF STOCK OPTIONS OUTSTANDING

The stock options outstanding as of December 31, 2025 and 2024, summarized by exercise prices, are as follows:

  

Exercise price
$
  Stock options outstanding as of
December 31, 2025
   Stock options outstanding as of
December 31, 2024
   Weighted average remaining contractual life – years as of
December 31, 2025
   Weighted average remaining contractual life – years as of
December 31, 2024
   Stock options exercisable as of
December 31, 2025
   Stock options exercisable as of
December 31, 2024
 
0.00-0.99   39,359    86,577    5.66    3.8    26,234    61,577 
1.00-3.73   2,032,875    1,299,562    8.31    8.7    1,283,092    731,559 
4.2-7.26   499,636    577,482    5.82    5.9    499,636    539,642 
8.16-9.64   380,872    380,872    4.56    5.6    380,872    380,872 
15.3-15.75   152,873    152,873    1.76    2.7    152,873    152,873 
    3,105,615    2,497,366              2,342,707    1,866,523 
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS

The grant date fair values of employee stock options granted in the years ended December 31, 2025 and 2024 were estimated using the Black-Scholes valuation model with the following:

  

    

For the Years Ended

December 31,

 
    2025    2024 
Expected volatility   94.0%-102.3%    90.4%-100.7% 
Risk-free interest   3.7%-4.4%    3.5%- 4.3% 
Dividend yield   -    - 
Expected terms (years)   5.5-5.8    5-10 
SCHEDULE OF WARRANTS OUTSTANDING

The remaining outstanding warrants and terms as of December 31, 2025 and 2024 are as follows:

  

Issuance date  Outstanding and exercisable as of December 31, 2025   Outstanding and exercisable as of December 31, 2024   Exercise Price  

Exercisable Through

Warrant to underwriters October 2022   51,125    51,125   $6.11   October 21, 2027
Warrant to underwriters May 2023   32,778    32,778   $2.75   November 23, 2026
Warrant to underwriters May 2023   60,476    60,476   $2.75   November 24, 2026
Warrant to underwriters June 2023   35,088    35,088   $2.67   June 2, 2028
                   
Warrant to underwriters June 2023   31,231    31,231   $4.06   June 28, 2028
                   
Warrant series E January 2024   -    1,685,682   $1.50   July 3, 2029
Warrant to underwriters January 2024   84,284    84,284   $2.03   July 3, 2029
Warrant series F June 2024   -    3,133,338   $1.50   June 3, 2026
Warrant to underwriters June 2024   28,102    78,333   $1.88   June 3, 2026
Warrant to underwriters January 2025   71,750    -   $2.19   January 7, 2027
Warrant to underwriters January 2025   189,428    -   $2.84   January 10, 2027
Warrant to underwriters January 2025   30,526    -   $1.88   July 8, 2030
Warrant to underwriters February 2025   109,478    -   $2.66   June 10, 2027
Warrant to underwriters September 2025   10,362    -   $1.88   March 16, 2028
Warrant to underwriters September 2025   31,429    -   $2.12   March 16, 2028
Warrant to underwriters September 2025   138,906    -   $2.62   March 16, 2028
Warrant to underwriters September 2025   422,535    -   $2.66   March 16, 2028
Warrant to underwriters September 2025   30,000    -   $2.62   March 29, 2028
Warrant to underwriters September 2025   53,758    -   $1,88   March 16, 2031
Warrant to underwriters September 2025   146,306    -   $1.88   September 16, 2027
Warrant to underwriters September 2025   368,572    -   $2.12   September 16, 2027
Warrant to underwriters September 2025   143,723    -   $2.63   September 16, 2027
Warrant to underwriters September 2025   187,794    -   $2.66   September 16, 2027
Warrant series J September 2025   12,064,627    -   $4.50   March 16, 2028
Warrant series J September 2025   600,000    -   $4.50   March 29, 2028
Warrant series J October 2025   1,324,488    -   $4.50   April 6, 2028

Warrant series J October 2025

   

66,224

    

-

   $

2.66

  

April 6, 2028

    

16,312,990

    5,192,335