Stockholders' Equity (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of Designated Preferred Shares |
As of June 30, 2026, the Company has designated the following preferred stock: | | | | | | | | | | Designated Preferred Shares | | June 30, 2026 | | Series A | | 4,200 | | Series B | | 2,360 | | Series C | | 590 | | Series D | | 10,000 | | Series E | | 40,000 | | Series E-1 | | 12,960 | | Series F-1 | | 24,900 | | Series F-2 | | 24,900 | | Series F-3 | | 34,860 | | Series F-4 | | 24,900 | | Total | | 179,670 |
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| Schedule of Assumptions to Estimate Fair Value of Stock Options Using Black-Scholes Option Pricing Model |
The Company values stock options using the Black-Scholes option pricing model and used the following assumptions, on a weighted-average basis, during the reporting periods: | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | | Expected terms (years) | 5.7 | | 5.7 | | Expected volatility | 70.5% | | 89.2% | | Risk-free interest rate | 3.77% | | 4.32% | | Expected dividends | 0.00% | | 0.00% |
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| Schedule of Stock Option Activity |
The following is a summary of stock option activity for the six months ended June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted Average
Exercise Price Per Share | | Weighted Average
Remaining
Contractual Term
(in years) | | Aggregate Intrinsic
Value
(in thousands) | | Outstanding at January 1, 2026 | 7,785,149 | | $ | 10.05 | | | 7.8 | | $ | 17,391 | | | Granted | 1,034,869 | | 9.64 | | | 9.5 | | | | Exercised | (215,666) | | | 5.58 | | | | | | | Expired | (53,487) | | | 13.28 | | | | | | | Cancelled/Forfeited | (94,583) | | 11.27 | | | | | | | Outstanding at June 30, 2026 | 8,456,282 | | $ | 10.08 | | | 7.6 | | $ | 30,138 | | | | | | | | | | | Exercisable at June 30, 2026 | 5,769,637 | | $ | 9.22 | | | 7.0 | | $ | 24,355 | | | Unvested at June 30, 2026 | 2,686,645 | | | $ | 11.94 | | | 8.9 | | $ | 5,783 | |
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| Schedule of Restricted Stock Units Granted |
The following tables include information for all restricted stock units granted including inducement grants that are granted outside of the 2020 Plan. | | | | | | | | | | | | | Number of Restricted Stock Units | | Weighted Average Grant Date Fair Value | | Outstanding at January 1, 2026 | — | | | $ | — | | | Granted | 938,977 | | 9.44 | | Vested | — | | | — | | Forfeited | (32,620) | | 9.40 | | | Outstanding at June 30, 2026 | 906,357 | | $ | 9.44 | |
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| Schedule of Recognized Share-based Compensation Cost |
The following is a summary of share-based compensation expense in the statements of operations: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Selling, general and administrative | $ | 3,521 | | | $ | 4,718 | | | $ | 6,683 | | | $ | 9,247 | | | Research and development | 1,291 | | | 1,773 | | | 2,678 | | | 3,341 | | | Cost of goods sold | 306 | | | 718 | | | 703 | | | 1,484 | | | Total | $ | 5,118 | | | $ | 7,209 | | | $ | 10,064 | | | $ | 14,072 | |
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| Schedule of Warrant Activity |
The following is a summary of common stock warrant activity for the six months ended June 30, 2026: | | | | | | | | | | | | | Warrants | | Weighted Average Exercise Price | | Outstanding at January 1, 2026 | 1,341,375 | | $ | 0.01 | | | Warrants issued | — | | | — | | | Warrants exercised | — | | | — | | | Warrants canceled | — | | | — | | | Outstanding and exercisable at June 30, 2026 | 1,341,375 | | $ | 0.01 | |
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| Schedule of Information Related to Stock Warrants Outstanding and Exercisable |
The following table presents information related to common stock warrants outstanding at June 30, 2026: | | | | | | | | | | | | | Warrants Exercisable | | Range of Exercise Prices | Outstanding
Number of
Warrants | | Weighted Average
Remaining Warrant Term
(in years) | $0.01 (1) | 1,341,375 | | n/a |
(1) Pre-funded warrants with a $0.01 exercise price do not expire until exercised.
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