Net Loss Per Share

3 Months Ended

12 Months Ended

Mar. 31, 2026

Dec. 31, 2025

Earnings Per Share [Abstract]

Net Loss Per Share

12. Net Loss Per Share

The net loss and the weighted average number of shares of common stock and

pre-funded

warrants used in computing basic and diluted net loss per share for the three months ended March 31, 2026 and 2025, are as follows (in thousands, except share and per share data):


	Three Months Ended March 31,
	2026			2025
Numerator:
Net loss	$	(3,754	)	$	(1,709	)
Denominator:
Weighted average number of shares of common stock and pre-funded warrants used in computing net loss per share, basic and diluted		4,382,731			345,958

Net loss per share, basic and diluted	$	(0.86	)	$	(4.94	)

The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as their effect would be anti-dilutive:


	Three Months Ended March 31,
	2026		2025
Options to purchase common stock		879,373		27,038
Restricted stock units, unvested portion		2,339		7,020
Restricted stock awards, unvested portion		14,381		20,906
Common warrants		50,402		50,402

Total potential common stock equivalents		946,495		105,366

The outstanding

pre-funded

warrants are exercisable for only a de minimis cash consideration with no substantive exercise contingencies, accordingly, the Company included

pre-funded

warrants in the weighted average shares outstanding for both basic and diluted EPS calculations.

12. Net Loss Per Share

The loss and the weighted average number of shares of common stock and

pre-funded

warrants used in computing basic and diluted net loss per share for the years ended December 31, 2025, 2024, and 2023, are as follows (in thousands, except share and per share data):


	Year ended December 31,
	2025			2024			2023
Numerator:
Net loss	$	(5,995	)	$	(3,143	)	$	(17,054	)
Denominator:
Weighted average number of shares of common stock and pre-funded warrants used in computing net loss per share, basic and diluted		1,122,495			341,708			233,670

Net loss per share, basic and diluted	$	(5.34	)	$	(9.20	)	$	(72.98	)

The following potentially dilutive securities have been e

xclu

ded from the computation of diluted weighted average shares outstanding as their effect would be anti-dilutive:


	Year ended December 31,
	2025		2024		2023
Options to purchase common stock		903,149		27,412		28,686
Restricted stock units		4,318		4,318		6,818
Restricted stock awards		15,681		20,909		—
Warrants		50,402		50,402		36,767

Total potential common stock equivalents		973,550		103,041		72,271

The outstanding

pre-funded

warrants are exercisable for only a de minimis cash consideration with no substantive exercise contingencies, accordingly, the Company included

pre-funded

warrants in the weighted average shares outstanding for both basic and diluted EPS calculations.