v3.26.1
Common, Preferred Stock and Warrants (Tables)
3 Months Ended
Mar. 31, 2026
Common, Preferred Stock and Warrants  
Schedule of fair value of the warrants estimated using the Black-Scholes option pricing model

2025 Investor Warrants

2025 Underwriter Warrants

July 17, 2025

July 23, 2025

July 17, 2025

July 23, 2025

Market price at grant date

$

1.61

$

1.68

$

1.61

$

1.68

Volatility

87.50

%

87.50

%

85.00

%

85.00

%

Expected term (years)

2.50

2.50

2.75

2.74

Risk-free interest rate

3.83

3.79

3.82

3.78

Expected dividend yield

Grant date fair value per share

$

0.85

$

0.90

$

0.80

$

0.85

Schedule of Company's issued and outstanding warrants

Below is a summary of the Company’s issued and outstanding warrants as of March 31 2026:

Warrants

Warrants

Weighted Average

Expiration Date

Outstanding

  ​

Exercisable

Exercise Price

November 24, 2028

3,361,484

3,361,484

$

2.75

June 17, 2029

106,914

106,914

1.69

July 17, 2030

1,799,254

1,799,254

1.71

Outstanding as of March 31, 2026

5,267,652

5,267,652

$

2.37

Schedule of Company's warrants activity

Weighted Average

  ​ ​

Warrants

Exercise Price

Outstanding as of December 31, 2025

5,759,453

$

2.31

Exercised:

Investor Warrants (a)

(1,250)

1.65

Agent Warrants (a)

(490,551)

1.69

Outstanding as of March 31, 2026

5,267,652

$

2.37

(a)In the three months ended March 31, 2026, 1,250 investor warrants and 490,551 placement agent warrants were exercised and resulted in net proceeds of $2 thousand. In connection with the cashless exercise of the placement agent warrants, 228,460 shares were issued and 262,091 shares were withheld to cover the warrants’ exercise price.