v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Allocated Stock-based Compensation Expense
The following table summarizes the components of stock-based compensation expense in the consolidated statements of operations for the three months ended March 31, 2026 and 2025 (in thousands):

Three Months Ended March 31,
20262025
Research and development$240 $114 
General and administrative558 391 
Total stock-based compensation $798 $505 
Schedule of Stock Option Activity
The following table summarizes stock option activity of the Company for the three months ended March 31, 2026:
Total
Number of
Shares
(In Thousands)		Weighted
Average
Exercise
Price		Weighted Average Remaining Contractual Term (In Years)Aggregate
Intrinsic
Value
(In Thousands)
Outstanding at December 31, 20252,651 $3.19 
Canceled(2)0.87 
Outstanding at March 31, 20262,649 $3.19 7.20$5,801 
Vested and exercisable at March 31, 20261,778 $4.21 6.67$3,084 
Schedule of Assumptions for Option Grants Issued
The Company uses the Black-Scholes option-pricing model to determine the fair value of all its stock options granted. The weighted average assumptions used during the three months ended March 31, 2026 and 2025, were as follows:
Three Months Ended March 31,
20262025
Risk free interest raten/a4.25 %
Volatilityn/a122.43 %
Expected term (years)n/a6.17
Expected dividend yieldn/a— %
Schedule of RSU Activity
The following table summarizes RSU activity of the Company for the three months ended March 31, 2026:

Shares
(In Thousands)		Weighted Average Grant Date Fair Value
Unvested at December 31, 2025897 $1.09 
Granted1,365 $4.04 
Unvested at March 31, 20262,262 $2.87