In June 2021, the Company adopted the 2021 Incentive Award Plan (the “2021 Plan”) under which the Company may grant cash and equity incentive awards to officers, employees, directors, consultants and service providers in order to attract, motivate and retain talent. The 2021 Plan replaced the Company's previous stock compensation plan.

All stock-based awards are measured based on the grant date fair value and are generally recognized on a straight-line basis in the Company’s condensed consolidated income statements over the requisite service period (generally requiring a four-year vesting period).

The following table sets forth the total stock-based compensation expense related to stock options and restricted stock units included in the respective components of operating expenses in the condensed consolidated income statements:


	Three Months Ended March 31,
	2026		2025
(in thousands)	Unaudited		Unaudited
Research and development	$	424	$	684
Clinical operations		126		93
Sales and marketing		657		451
General and administrative		1,752		1,105
Total stock-based compensation expense	$	2,959	$	2,333