v3.26.1
SHARE-BASED COMPENSATION (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]    
Schedule of Share-based Compensation Awards Granted for Options and RSUs During the Period  

For the years ended December 31, 2025 and 2024, the Company granted options and RSUs to employees and directors as follows:

Year ended December 31, 2025

Award

Exercise 

Vesting

  ​ ​ ​

amount

  ​ ​ ​

price range

  ​ ​ ​

period

  ​ ​ ​

Expiration

Options

 

1,662,500

$0.38 - $2.77

 

1 year - 4 years

 

10 years

Year ended December 31, 2024

Award

Exercise 

Vesting

  ​ ​ ​

amount

  ​ ​ ​

price range

  ​ ​ ​

period

  ​ ​ ​

Expiration

Options

 

870,000

$1.96 - $2.40

 

1 year - 4 years

 

10 years

RSUs

 

435,000

 

4 years

 

Schedule of Underlying Data Used for Computing the Fair Value of the Options  

Year ended December 31,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Exercise price

$0.38 - $2.77

$1.96-$2.40

Dividend yield

%  

%

Expected volatility

101.91% - 104.79

%  

104.00% - 105.73

%

Risk-free interest rate

4.19% - 4.58

%  

3.95% - 4.32

%

Expected term

6 years

6 years

Schedule of Stock Option Activity  

  ​ ​ ​

  ​ ​ ​

Weighted

Number of

 Average

options

 Exercise Price

Outstanding at December 31, 2024

 

1,584,304

$

19.65

Granted

 

1,662,500

 

2.61

Forfeited

 

(220,641)

 

2.17

Expired

 

(75,601)

 

61.59

Outstanding at December 31, 2025

 

2,950,562

$

10.28

Exercisable at December 31, 2025

 

838,339

$

29.66

Schedule of RSUs Activity  

Weighted Average 

Number of

Grant Date

RSUs

Fair Value

Outstanding at December 31, 2024

 

750,715

$

2.77

Vested

 

(299,609)

 

3.10

Forfeited

 

(190)

 

10.99

Outstanding at December 31, 2025

 

450,916

$

2.54

Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table illustrates the effect of stock-based compensation on the line items on the unaudited condensed consolidated statements of operations and comprehensive loss:

 

Three Months Ended March 31,

(in thousands)

  ​ ​ ​

2026

  ​ ​ ​

2025

Research and development

$

81

$

126

General and administrative

 

393

 

637

Total

$

474

$

763

Year ended December 31,

(in thousands)

  ​ ​ ​

2025

  ​ ​ ​

2024

Research and development

$

364

$

548

General and administrative

 

1,944

 

2,755

Total

$

2,308

$

3,303