v3.26.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Valuation Assumptions
The assumptions (refer to Note 2) used in the Black-Scholes option pricing model to determine the fair value of the share options granted to employees and directors during the years ended December 31, 2025 and 2024 were as follows:
Year Ended December 31,
20252024
Expected option life (years)
5.27 to 6.08
3.14 to 6.08
Risk-free interest rate
3.74% to 4.44%
3.56% to 4.86%
Expected volatility
78.30% to 80.20%
79.48% to 83.87%
Expected dividend yield0%0%
Schedule of Stock Option Activity
The table below summarizes Company's share option activity during the year ended December 31, 2025.
Number of
Options		Weighted-
Average
Exercise
Price per share		Weighted-
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value (1)
(in thousands)
Outstanding as of December 31, 2024
20,754,316 $5.41 7.78$1,536 
Granted12,997,697 1.89 — 1,750 
Forfeited(1,671,844)2.35 — 97 
Expired
(949,234)5.24 — 6 
Outstanding as of December 31, 2025
31,130,935 $4.11 7.75$1,977 
Exercisable as of December 31, 2025
14,728,610 $6.21 6.48$251 
Vested and expected to vest as of December 31, 2025
31,130,935 $4.11 7.75$1,977 
(1) Aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of common stock for those options in the money as of December 31, 2025
Schedule of RSU Activity
The following is a summary of the Company's RSU activity for the 2018 Plan for the year ended December 31, 2025:
Number of
restricted
units		Weighted average
grant date
fair value
Unvested and outstanding at December 31, 2024
32,412 $4.22 
Granted80,000 1.50 
Vested(17,949)4.41 
Forfeited(1,963)2.41 
Unvested and outstanding at December 31, 2025
92,500 $1.87 
Schedule of Share-Based Compensation Expense
Share-based compensation expense recorded as research and development expenses, selling, general and administrative expenses and cost of sales is as follows (in thousands):
Year Ended December 31,
20252024
Research and development expenses, net$4,943 $5,593 
Selling, general and administrative expenses
8,063 9,622 
Cost of sales
1,508 260 
Capitalized to prepaid expenses and other non-current assets(76)(3)
Total Share-based Compensation Expense$14,438 $15,472