Stock-Based Compensation

3 Months Ended

Mar. 31, 2026

Note 4 - Stock-Based Compensation

Under the fair value recognition provisions of U.S. GAAP for accounting for stock-based compensation, the Company measures stock-based compensation expense at the grant date based on the fair value of the award and recognizes the compensation expense over the requisite service period, which is generally the vesting period.

The following table presents the classification of stock-based compensation expense recognized for the periods below:


	Three months ended March 31
(in thousands)	2026		2025
Selling, general and administrative expense	$	24	$	65
Research and development expense		1		2
Total stock-based compensation expense	$	25	$	67

During the three months ended March 31, 2026 and 2025, under the 2017 Equity Incentive Plan, and the 2021 Inducement Plan, the Company granted 0 stock options for both periods to its directors, officers and employees. Vesting generally occurs either immediately or up to a 48-month period based on a time-of-service condition. As the Company did not issue any stock options during the three months ended March 31, 2026, there is no weighted-average grant date fair value of the stock options issued during the three months ended March 31, 2026. The weighted-average grant date fair value of the stock options issued during the three months ended March 31, 2026, and 2025 was $0 and $0 per share, respectively.

The total number of stock options outstanding as of March 31, 2026, and 2025 was 34,446 and 81, respectively.

During the three months ended March 31, 2026, and 2025, 1,097 and 4 stock options vested, respectively, and 6 and 12 stock options expired or were forfeited during these periods, respectively. During the three months ended March 31, 2026, and 2025, no options were exercised.