v3.26.1
Equity Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2026
Equity Incentive Plan  
Summary of the Company's stock option activity

Weighted Average

Grant Date

Weighted Average

  ​ ​ ​

Shares

  ​ ​ ​

Fair Value

  ​ ​ ​

Exercise Price

Options outstanding as of December 31, 2025

 

3,531,980

$

2.35

$

3.64

Options granted

 

798,500

 

1.38

1.86

Options canceled/forfeited

 

(325,324)

 

1.97

3.53

Options outstanding as of March 31, 2026

4,005,156

$

2.18

$

3.29

Schedule of assumptions to determine grant-date fair value of stock options granted during the period

Three Months Ended March 31

2026

  ​ ​ ​

2025

Grant date fair value

$

1.38

$

1.67

Volatility

85

80

%

Expected term (years)

6.08

6.08

Risk-free interest rate

4.04

4.09

Expected dividend yield

Schedule of unvested restricted stock units

Weighted Average

Grant Date Fair

Numbers of Shares

Value per Share

Outstanding as of December 31, 2025

 

20,303

$

4.19

Vested

(399)

3.58

Canceled/forfeited

(116)

3.58

Outstanding as of March 31, 2026

19,788

$

4.20

Total unrecognized expense remaining

$

63,970

Years unrecognized expense expected to be recognized over

1.0

Schedule of stock-based compensation expense recognized for stock options granted to employees and non-employees

Three Months Ended March 31

  ​ ​ ​

2026

  ​ ​ ​

2025

Research and development

 

$

258,533

 

$

267,968

General and administrative

 

144,976

 

151,536

Total stock-based compensation

 

$

403,509

 

$

419,504