v3.26.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Options

The following shows the stock option activities for the years ended December 31, 2025 and 2024:

 

 

 

 

 

Total Options Outstanding

 

 

Weighted-Average Exercise Price

 

Balance—December 31, 2023

 

 

 

 

273,393

 

 

$

94.64

 

Granted

 

 

 

 

69,009

 

 

 

51.48

 

Exercised

 

 

 

 

(6,284

)

 

 

24.83

 

Cancelled and forfeited

 

 

 

 

(16,028

)

 

 

106.99

 

Balance—December 31, 2024

 

 

 

 

320,090

 

 

$

86.06

 

Granted

 

 

 

 

130,014

 

 

 

11.20

 

Exercised

 

 

 

 

 

 

 

 

Cancelled and forfeited

 

 

 

 

 

 

 

 

Balance—December 31, 2025

 

 

 

 

450,104

 

 

 

64.44

 

Summary of Information About Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2025:

 

 

 

Shares

 

 

Weighted Average Remaining Contractual Life (In Years)

 

 

Weighted Average Exercise Price

 

 

Aggregate Intrinsic Value

 

Options outstanding

 

 

450,104

 

 

 

7.71

 

 

$

64.44

 

 

$

 

Vested and expected to vest

 

 

450,104

 

 

 

7.71

 

 

$

64.44

 

 

$

 

Exercisable

 

 

441,792

 

 

 

7.70

 

 

$

64.51

 

 

$

 

Schedule of Stock Based Compensation Expense Company’s consolidated statements of operations for the years ended December 31, 2025 and 2024:

 

 

 

2025

 

 

2024

 

Research and development

 

$

1,179

 

 

$

2,222

 

General and administrative

 

 

1,939

 

 

 

3,081

 

Total

 

$

3,118

 

 

$

5,303

 

Share-based Payment Arrangement, Employee  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Grant Date Fair Value The fair value of employee stock options was estimated using the following assumptions for the years ended December 31, 2025 and 2024:

 

 

 

2025

 

 

2024

 

Expected term (in years)

 

6.0

 

 

5.5 - 6.1

 

Expected volatility

 

115% - 116%

 

 

109% - 124%

 

Risk-free interest rate

 

 

4.4

%

 

3.5% - 4.7%

 

Dividends

 

 

 %

 

 

 %