v3.26.1
Common Stock (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Common Stock [Abstract]    
Schedule of Outstanding Warrant Activity

The following table summarizes the Company’s outstanding warrant activity for the three months ended March 31, 2026 (in number of warrant shares):

 

   Shortfall Warrants   Publicly
Traded
Warrants
   Term
Loan
Warrants
   September
2025
Offering
Warrants
   October
2025
Offering
Warrants
   Issued
Pre-Funded
Warrants
   Series A
Warrants &
February
2026
Placement
Agent
Warrants
 
December 31, 2025   1,135,499    14,166,666    3,500,000    5,868,336    9,248,136    
-
    
-
 
Issued   
-
    
-
    
-
    
-
    
-
    27,053,850    123,750,000 
March 31, 2026   1,135,499    14,166,666    3,500,000    5,868,336    9,248,136    27,053,850    123,750,000 

The following table summarizes the Company’s outstanding warrant activity for the years ended December 31, 2025 and 2024 (in number of warrant shares):

 

   Shortfall
Warrants
   Publicly
Traded
Warrants
   Term Loan
Warrants
   September
2025
Offering
Warrants
   October
2025
Offering
Warrants
 
December 31, 2023   3,874,394    14,166,666    
-
    
-
    
-
 
Issued   
-
    
-
    2,000,000    
-
    
-
 
Exercised   (664,883)   
-
    
-
    
-
    
-
 
December 31, 2024   3,209,511    14,166,666    2,000,000    
-
    
-
 
Issued   
-
    
-
    1,500,000    5,868,336    9,248,136 
Exercised   (2,074,012)   
-
    
-
    
-
    
-
 
December 31, 2025   1,135,499    14,166,666    3,500,000    5,868,336    9,248,136 
Schedule of Fair Value Measurements of Forward Purchase Agreement Warrant Liability   The following table presents the quantitative information regarding the fair value measurements of the forward purchase agreement warrant liability for each amendment:
   July 29, 2024   December 19, 2024   July 28, 2025   December 18, 2025 
   Pre-
Modification
   Post-
Modification
   Pre-
Modification
   Post-
Modification
   Pre-
Modification
   Post-
Modification
   Pre-
Modification
   Post-
Modification
 
Stock price  $2.06   $2.06   $1.84   $1.84   $1.53   $1.53   $0.70   $0.70 
Initial exercise price  $10.46   $10.46   $10.46   $10.46   $10.46   $10.46   $10.46   $10.46 
Annual volatility   138.0%   138.0%   80.0%   133.0%   62.0%   62.0%   45.0%   113.0%
Remaining term (in years)   0.4    0.4    0.0    1.0    0.4    0.4    0.0    1.0 
Risk-free rate   5.12%   5.12%   4.30%   4.19%   4.24%   4.24%   3.71%   3.43%