v3.26.1
Stock Option Plan (Tables)
 12 Months Ended
Dec. 31, 2025
Stock Option Plan [Abstract]  
Schedule of Stock Option Activity

Activity under the Plan, as adjusted for the recapitalization and Reverse Stock Split is set forth below:

 

   Options Outstanding 
Stock Option Activity  Number of Options   Weighted-Average Exercise Price Per Share   Weighted-Average
Remaining
Contractual Term
(in years)		 
Balances at December 31, 2024   13,705   $87.00    3.00 
Options granted   7,194    273.47      
Options expired   (933)   49.92      
Options cancelled/forfeited   (1,076)   194.45      
Options settled for promissory note   (6,363)  $67.30      
Balances at December 31, 2025   12,527   $231.81    6.94 
Exercisable at December 31, 2025   9,906   $244.91    5.45 
Vested and expected to vest at December 31, 2025   12,527   $231.81    6.94 
Schedule of Fair Value of the Stock Options Granted

The fair value of the stock options granted was estimated using the following assumptions in the Black-Scholes option pricing model:

 

Expected volatility   78.9%
Risk-free interest rate   4.4%
Expected term (in years)   10 
Expected dividend yield   —%
Schedule of Stock Compensation Expense

The following table is a summary of stock compensation expense by function recognized for the year ended December 31, 2025 and 2024 (in thousands):

 

   Year Ended December 31, 
   2025   2024 
General and administrative  $765   $7 
Research and development   126    14 
Total stock-based compensation  $891   $21