v3.26.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

As required by Section 953(a) of the Dodd-Frank Act and Item 402(v) of Regulation S-K, we are providing the following disclosure regarding the relationship between executive “compensation actually paid” (“CAP”) to our principal executive officer (“PEO”) and our other named executive officers (the “Non-PEO NEOs”) and Company financial performance for the fiscal years listed below. As a smaller reporting company for purposes of fiscal year 2025 reporting, the following table sets forth information with respect to the alignment between our executive compensation and our financial performance for the past three fiscal years.

Fiscal Year

 

Summary
Compensation
Table Total for
PEO
(1)
($)

 

Compensation
Actually Paid
to PEO
(1),(2),(3)
($)

 

Average
Summary
Compensation
Table Total
for Non-PEO
NEOs
(1)
($)

 

Average
Compensation
Actually Paid
to Non-PEO
NEOs
(1),(2),(3)
($)

 

Value of
Initial
Fixed $100
Investment
based
on Total
Stockholder
Return
(“TSR”)
(4)
($)

 

Net Income
($ Millions)

2025

 

2,494,099

 

(3,542,747

)

 

1,370,035

 

(2,078,013

)

 

(77

)

 

(75.8

)

2024

 

3,215,003

 

3,843,460

 

 

1,316,564

 

2,487,071

 

 

343

 

 

(71.3

)

2023

 

3,369,990

 

2,415,149

 

 

935,185

 

762,127

 

 

63

 

 

(64.5

)

____________

(1)      For each of the fiscal years presented in the table above, Ronald Martell was our only PEO. The individuals comprising the Non-PEO NEOs for each of 2025, 2024 and 2023 were Jeet Mahal, Herb Cross and Edwin Tucker, M.D.

(2)    Represents the amount of the CAP to our PEO or the Non-PEO NEOs, as computed in accordance with Item 402(v) of Regulation S-K, and does not reflect compensation actually earned, realized or received by our PEO or the Non-PEO NEOs during the applicable fiscal year. These amounts reflect the total amount of compensation for our named executive officers reported in the Summary Compensation Table, with certain adjustments as described in footnote 3 below.

(3)    The following table summarizes the adjustments required to be made to the amounts reported in the Summary Compensation Table for the applicable fiscal year in accordance with Item 402(v) of Regulation S-K in order to determine the amounts shown in the table above as being the CAP. Equity values are calculated in accordance with FASB ASC Topic 718.

Fiscal Year

 

Summary
Compensation
Table Total for
PEO
($)

 

Exclusion of
Stock Awards
and Option
Awards for
PEO
($)
(a)

 

Inclusion of
Equity Values
for PEO
($)
(b)

 

Compensation
Actually Paid to
PEO
($)
(c)

2025

 

2,494,099

 

(1,766,827

)

 

(4,270,019

)

 

(3,542,747

)

2024

 

3,215,003

 

(2,178,640

)

 

2,807,097

 

 

3,843,460

 

2023

 

3,369,990

 

(2,361,818

)

 

1,406,977

 

 

2,415,149

 

Fiscal Year

 

Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
($)

 

Average
Exclusion of
Stock Awards
and Option
Awards for
Non-PEO
NEOs
($)
(d)

 

Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($)
(e)

 

Average
Compensation
Actually Paid to
Non-PEO
NEOs
($)
(c)

2025

 

1,370,035

 

(679,549

)

 

(2,768,499

)

 

(2,078,013

)

2024

 

1,316,564

 

(638,263

)

 

1,808,770

 

 

2,487,071

 

2023

 

935,185

 

(480,782

)

 

307,724

 

 

762,127

 

____________

(a)      Represents the aggregate amount of the “Stock Awards” and “Option Awards” columns for our PEO reported in the Summary Compensation Table for the applicable fiscal year.

(b)      Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Year-End
Fair Value of
Equity Awards
Granted During
the Year That
Remained
Unvested as of
the Last Day
of the Year for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity
Awards for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity Awards that Vested During the Year for PEO
($)

 

Total Inclusion of Equity Values for PEO
($)

2025

 

390,152

 

(2,579,609

)

 

(2,080,562

)

 

(4,270,019

)

2024

 

2,034,880

 

778,601

 

 

(6,384

)

 

2,807,097

 

2023

 

797,566

 

987

 

 

608,424

 

 

1,406,977

 

(c)      The following adjustments are not applicable and are therefore omitted: (i) the fair value as of the vesting date for awards that are granted and vest in the same year; (ii) the amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year; and (iii) the dollar value of any dividends or other earnings paid on stock or option awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year.

(d)      Represents the average of the aggregate amount of the “Stock Awards” and “Option Awards” columns for the Non-PEO NEOs reported in the Summary Compensation Table for the applicable fiscal year.

(e)      Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Average Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested as of the Last Day of the Year for Non-PEO
NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity Awards for Non-PEO NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity
Awards that
Vested During
the Year for
Non-PEO
NEOs
($)

 

Total Average Inclusion of Equity Values for Non-PEO NEOs
($)

2025

 

149,958

 

(1,522,970

)

 

(1,395,486

)

 

(2,768,499

)

2024

 

1,561,405

 

220,019

 

 

27,346

 

 

1,808,770

 

2023

 

232,814

 

5,685

 

 

69,225

 

 

307,724

 

(4)      The TSR assumes $100 was invested in our Company for the period from the beginning of the measurement period through the end of the listed measurement period. The TSR is calculated by dividing (i) the difference between the stock price at the end of each measurement period shown and the beginning of the measurement period by (ii) the stock price at the beginning of the measurement period. Historical stock performance is not necessarily indicative of future stock performance.

   
Named Executive Officers, Footnote The individuals comprising the Non-PEO NEOs for each of 2025, 2024 and 2023 were Jeet Mahal, Herb Cross and Edwin Tucker, M.D.    
PEO Total Compensation Amount [1] $ 2,494,099 $ 3,215,003 $ 3,369,990
PEO Actually Paid Compensation Amount [1],[2],[3],[4] $ (3,542,747) 3,843,460 2,415,149
Adjustment To PEO Compensation, Footnote

Fiscal Year

 

Summary
Compensation
Table Total for
PEO
($)

 

Exclusion of
Stock Awards
and Option
Awards for
PEO
($)
(a)

 

Inclusion of
Equity Values
for PEO
($)
(b)

 

Compensation
Actually Paid to
PEO
($)
(c)

2025

 

2,494,099

 

(1,766,827

)

 

(4,270,019

)

 

(3,542,747

)

2024

 

3,215,003

 

(2,178,640

)

 

2,807,097

 

 

3,843,460

 

2023

 

3,369,990

 

(2,361,818

)

 

1,406,977

 

 

2,415,149

 

(a)      Represents the aggregate amount of the “Stock Awards” and “Option Awards” columns for our PEO reported in the Summary Compensation Table for the applicable fiscal year.

(b)      Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Year-End
Fair Value of
Equity Awards
Granted During
the Year That
Remained
Unvested as of
the Last Day
of the Year for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity
Awards for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity Awards that Vested During the Year for PEO
($)

 

Total Inclusion of Equity Values for PEO
($)

2025

 

390,152

 

(2,579,609

)

 

(2,080,562

)

 

(4,270,019

)

2024

 

2,034,880

 

778,601

 

 

(6,384

)

 

2,807,097

 

2023

 

797,566

 

987

 

 

608,424

 

 

1,406,977

 

(c)      The following adjustments are not applicable and are therefore omitted: (i) the fair value as of the vesting date for awards that are granted and vest in the same year; (ii) the amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year; and (iii) the dollar value of any dividends or other earnings paid on stock or option awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year.

   
Non-PEO NEO Average Total Compensation Amount [1] $ 1,370,035 1,316,564 935,185
Non-PEO NEO Average Compensation Actually Paid Amount [1],[2],[3],[4] $ (2,078,013) 2,487,071 762,127
Adjustment to Non-PEO NEO Compensation Footnote

Fiscal Year

 

Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
($)

 

Average
Exclusion of
Stock Awards
and Option
Awards for
Non-PEO
NEOs
($)
(d)

 

Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($)
(e)

 

Average
Compensation
Actually Paid to
Non-PEO
NEOs
($)
(c)

2025

 

1,370,035

 

(679,549

)

 

(2,768,499

)

 

(2,078,013

)

2024

 

1,316,564

 

(638,263

)

 

1,808,770

 

 

2,487,071

 

2023

 

935,185

 

(480,782

)

 

307,724

 

 

762,127

 

(c)      The following adjustments are not applicable and are therefore omitted: (i) the fair value as of the vesting date for awards that are granted and vest in the same year; (ii) the amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year; and (iii) the dollar value of any dividends or other earnings paid on stock or option awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year.

(d)      Represents the average of the aggregate amount of the “Stock Awards” and “Option Awards” columns for the Non-PEO NEOs reported in the Summary Compensation Table for the applicable fiscal year.

(e)      Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Average Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested as of the Last Day of the Year for Non-PEO
NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity Awards for Non-PEO NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity
Awards that
Vested During
the Year for
Non-PEO
NEOs
($)

 

Total Average Inclusion of Equity Values for Non-PEO NEOs
($)

2025

 

149,958

 

(1,522,970

)

 

(1,395,486

)

 

(2,768,499

)

2024

 

1,561,405

 

220,019

 

 

27,346

 

 

1,808,770

 

2023

 

232,814

 

5,685

 

 

69,225

 

 

307,724

 

   
Compensation Actually Paid vs. Total Shareholder Return

Description of Relationship Between the CAP to PEO and Non-PEO NEOs and the TSR

The following chart sets forth the relationship between the CAP to our PEO, the average of the CAP to our Non-PEO NEOs, and our cumulative TSR over the three most recently completed fiscal years.

   
Compensation Actually Paid vs. Net Income

Description of Relationship Between the CAP to PEO and Non-PEO NEOs and Net Income

The following chart sets forth the relationship between the CAP to our PEO, the average of the CAP to our Non-PEO NEOs, and our Net Income during the three most recently completed fiscal years.

   
Total Shareholder Return Amount [5] $ (77) 343 63
Net Income (Loss) $ (75.8) (71,300,000) (64,500,000)
PEO Name Ronald Martell    
Exclusion of Stock Awards and Option Awards for PEO [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [6] $ (1,766,827) (2,178,640) (2,361,818)
Inclusion of Equity Values for PEO [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [7] (4,270,019) 2,807,097 1,406,977
Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [8] (679,549) (638,263) (480,782)
Average Inclusion of Equity Values for Non-PEO NEOs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [9] (2,768,499) 1,808,770 307,724
Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested as of the Last Day of the Year for PEO [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 390,152 2,034,880 797,566
Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity Awards for PEO [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,579,609) 778,601 987
Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity Awards that Vested During the Year for PEO [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,080,562) (6,384) 608,424
Average Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested as of the Last Day of the Year for Non-PEO NEOs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 149,958 1,561,405 232,814
Average Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity Awards for Non-PEO NEOs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,522,970) 220,019 5,685
Average Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity Awards that Vested During the Year for Non-PEO NEOs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (1,395,486) $ 27,346 $ 69,225
[1] For each of the fiscal years presented in the table above, Ronald Martell was our only PEO. The individuals comprising the Non-PEO NEOs for each of 2025, 2024 and 2023 were Jeet Mahal, Herb Cross and Edwin Tucker, M.D.
[2] Represents the amount of the CAP to our PEO or the Non-PEO NEOs, as computed in accordance with Item 402(v) of Regulation S-K, and does not reflect compensation actually earned, realized or received by our PEO or the Non-PEO NEOs during the applicable fiscal year. These amounts reflect the total amount of compensation for our named executive officers reported in the Summary Compensation Table, with certain adjustments as described in footnote 3 below.
[3] The following adjustments are not applicable and are therefore omitted: (i) the fair value as of the vesting date for awards that are granted and vest in the same year; (ii) the amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year; and (iii) the dollar value of any dividends or other earnings paid on stock or option awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year.
[4] The following table summarizes the adjustments required to be made to the amounts reported in the Summary Compensation Table for the applicable fiscal year in accordance with Item 402(v) of Regulation S-K in order to determine the amounts shown in the table above as being the CAP. Equity values are calculated in accordance with FASB ASC Topic 718.

Fiscal Year

 

Summary
Compensation
Table Total for
PEO
($)

 

Exclusion of
Stock Awards
and Option
Awards for
PEO
($)
(a)

 

Inclusion of
Equity Values
for PEO
($)
(b)

 

Compensation
Actually Paid to
PEO
($)
(c)

2025

 

2,494,099

 

(1,766,827

)

 

(4,270,019

)

 

(3,542,747

)

2024

 

3,215,003

 

(2,178,640

)

 

2,807,097

 

 

3,843,460

 

2023

 

3,369,990

 

(2,361,818

)

 

1,406,977

 

 

2,415,149

 

Fiscal Year

 

Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
($)

 

Average
Exclusion of
Stock Awards
and Option
Awards for
Non-PEO
NEOs
($)
(d)

 

Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($)
(e)

 

Average
Compensation
Actually Paid to
Non-PEO
NEOs
($)
(c)

2025

 

1,370,035

 

(679,549

)

 

(2,768,499

)

 

(2,078,013

)

2024

 

1,316,564

 

(638,263

)

 

1,808,770

 

 

2,487,071

 

2023

 

935,185

 

(480,782

)

 

307,724

 

 

762,127

 

____________

(a)      Represents the aggregate amount of the “Stock Awards” and “Option Awards” columns for our PEO reported in the Summary Compensation Table for the applicable fiscal year.

(b)      Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Year-End
Fair Value of
Equity Awards
Granted During
the Year That
Remained
Unvested as of
the Last Day
of the Year for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity
Awards for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity Awards that Vested During the Year for PEO
($)

 

Total Inclusion of Equity Values for PEO
($)

2025

 

390,152

 

(2,579,609

)

 

(2,080,562

)

 

(4,270,019

)

2024

 

2,034,880

 

778,601

 

 

(6,384

)

 

2,807,097

 

2023

 

797,566

 

987

 

 

608,424

 

 

1,406,977

 

(c)      The following adjustments are not applicable and are therefore omitted: (i) the fair value as of the vesting date for awards that are granted and vest in the same year; (ii) the amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year; and (iii) the dollar value of any dividends or other earnings paid on stock or option awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year.

(d)      Represents the average of the aggregate amount of the “Stock Awards” and “Option Awards” columns for the Non-PEO NEOs reported in the Summary Compensation Table for the applicable fiscal year.

(e)      Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Average Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested as of the Last Day of the Year for Non-PEO
NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity Awards for Non-PEO NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity
Awards that
Vested During
the Year for
Non-PEO
NEOs
($)

 

Total Average Inclusion of Equity Values for Non-PEO NEOs
($)

2025

 

149,958

 

(1,522,970

)

 

(1,395,486

)

 

(2,768,499

)

2024

 

1,561,405

 

220,019

 

 

27,346

 

 

1,808,770

 

2023

 

232,814

 

5,685

 

 

69,225

 

 

307,724

 

[5] The TSR assumes $100 was invested in our Company for the period from the beginning of the measurement period through the end of the listed measurement period. The TSR is calculated by dividing (i) the difference between the stock price at the end of each measurement period shown and the beginning of the measurement period by (ii) the stock price at the beginning of the measurement period. Historical stock performance is not necessarily indicative of future stock performance.
[6] Represents the aggregate amount of the “Stock Awards” and “Option Awards” columns for our PEO reported in the Summary Compensation Table for the applicable fiscal year.
[7] Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Year-End
Fair Value of
Equity Awards
Granted During
the Year That
Remained
Unvested as of
the Last Day
of the Year for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity
Awards for
PEO
($)

 

Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity Awards that Vested During the Year for PEO
($)

 

Total Inclusion of Equity Values for PEO
($)

2025

 

390,152

 

(2,579,609

)

 

(2,080,562

)

 

(4,270,019

)

2024

 

2,034,880

 

778,601

 

 

(6,384

)

 

2,807,097

 

2023

 

797,566

 

987

 

 

608,424

 

 

1,406,977

 

[8] Represents the average of the aggregate amount of the “Stock Awards” and “Option Awards” columns for the Non-PEO NEOs reported in the Summary Compensation Table for the applicable fiscal year.
[9] Amounts reported in this column are derived from the amounts set forth in the following table for the applicable fiscal year:

Fiscal Year

 

Average Year-End Fair Value of Equity Awards Granted During the Year That Remained Unvested as of the Last Day of the Year for Non-PEO
NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Last Day of the Year of Unvested Equity Awards for Non-PEO NEOs
($)

 

Average Change in Fair Value from the Last Day of the Prior Year to the Vesting Date of Unvested Equity
Awards that
Vested During
the Year for
Non-PEO
NEOs
($)

 

Total Average Inclusion of Equity Values for Non-PEO NEOs
($)

2025

 

149,958

 

(1,522,970

)

 

(1,395,486

)

 

(2,768,499

)

2024

 

1,561,405

 

220,019

 

 

27,346

 

 

1,808,770

 

2023

 

232,814

 

5,685

 

 

69,225

 

 

307,724