Share-Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation | Share-Based Compensation The Company has issued non-qualified stock option awards to management, other key employees, consultants, and non-employee directors and these options ratably vest over a four-year service period. In addition, we issued options in connection with the private placement on February 27, 2024, that vest ratably over a three-year period. The option awards expire after a term of ten years from the date of grant. As of March 31, 2026, the Company had total unrecognized stock-based compensation expense for its outstanding stock option awards of approximately $13.4 million, which is expected to be recognized over a weighted average period of 3.2 years. The weighted average grant date fair value of options granted during the three months ended March 31, 2026, and 2025 was $28.56 and $14.97 per option, respectively. The aggregate intrinsic value of the in-the-money awards outstanding at March 31, 2026, was de minimis. The following table summarizes the activity related to the stock option awards for the three months ended March 31, 2026:
Compensation expense related to the grants of stock options is included in research and development and general and administrative expense as follows (in thousands):
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