v3.26.1
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Share-based Compensation
Share-based compensation is comprised of the Company's stock options, restricted stock awards, restricted stock units and shares issued pursuant to the employee stock purchase plan, and is classified in the condensed
consolidated statements of operations and comprehensive loss for the three months ended March 31, 2026 and 2025 was as follows:
FOR THE THREE MONTHS ENDED
MARCH 31,
(in thousands)20262025
Research and development$184 $810 
General and administrative429 1,069 
$613 $1,879 
Schedule of Stock Option Activity
The following table summarizes stock option activity for the three months ended March 31, 2026:
Stock OptionsNumber of Option Shares Weighted-Average
Exercise Price		Weighted-Average
Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Outstanding stock options at December 31, 2025628,280$43.42 7.6$89 
Granted32,360$4.45 
Forfeited(11,404)$15.70 
Expired(1,281)$88.75 
Exercised(561)$6.08 
Outstanding stock options at March 31, 2026647,394$41.90 6.2$749 
Exercisable stock options at March 31, 2026427,642$56.52 5.6$180 
Schedule of Assumptions of Fair Value of Stock Option Pricing Granted
The fair value of the stock options granted during the three months ended March 31, 2026 and 2025 was determined using the Black-Scholes option pricing model with the following assumptions:
FOR THE THREE MONTHS ENDED
MARCH 31,
20262025
Expected volatility109.21%
91.88% - 119.61%
Expected term (years)5.25
5.27 - 6.02
Risk free interest rate3.68%
4.36% - 4.39%
Expected dividend yield—
—
Exercise price$4.45
$6.08 - $7.60
Schedule of Nonvested Restricted Common Stock Units
A summary of the status of the Company's nonvested restricted common stock units at March 31, 2026 and changes during the three months ended March 31, 2026 was as follows:
Restricted Stock UnitsSharesWeighted-Average Grant Date Fair
Value Per Share
Nonvested restricted stock units at December 31, 202538,603$9.60 
Granted5,000$4.45 
Forfeited(4,150)$2.40 
Vested(6,354)$7.79 
Nonvested restricted stock units at March 31, 202633,099$10.07