v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of net deferred tax assets

  ​ ​ ​

December 31, 

December 31, 

2025

2024

Deferred tax assets:

Federal net operating losses

$

107,162

$

90,853

State net operating losses

 

29,513

 

23,152

Stock options

 

15,002

 

14,601

Tax credits

19,031

17,188

Capitalized research & development

 

40,014

 

44,377

Accrued expense

102

202

Depreciation

 

146

 

103

Lease accounting - liability

17

115

Disallowed charitable contributions

1

1

Deferred Costs

683

674

Debt Amendment

2,273

1,483

Accrued legal settlement

2,590

Valuation allowance

(213,929)

(192,149)

Total deferred tax assets

$

2,605

$

600

Deferred tax liabilities:

 

 

Debt amendment

$

(500)

Insurance settlement

(2,590)

$

Right-of-use assets

(15)

(100)

Total deferred tax liabilities

$

(2,605)

$

(600)

Net deferred tax asset (liability)

$

$

Schedule of effective tax rate and statutory rate reconciliation

2025

2024

U.S. federal statutory rate

$

(14,678)

21.0

%  

$

(12,516)

21.0

%

State and local income taxes, net of federal income tax effect

%  

5

%

Tax credits:

Research and development credits

(1,771)

2.5

%  

(1,870)

3.1

%

Changes in valuation allowance

15,293

(21.9)

%  

18,122

(30.4)

%

Non-taxable or non-deductible items:

Warrant mark-to-market

736

(1.1)

%  

(4,238)

7.1

%

Other

420

(0.5)

%  

497

(0.8)

%

Effective tax rate

$

%  

$

%