In April 2024, the Company’s board of directors adopted the 2024 Equity Incentive Plan (“2024 Plan”), which was subsequently approved by the Company’s stockholders and became effective on June 19, 2024. The 2024 Plan is the successor to the 2014 Plan. The 2014 Plan terminated on February 11, 2024 and no new grants may be made under the 2014 Plan after that date, although all outstanding awards granted under the 2014 Plan will continue to be subject to the terms and conditions as set forth in the agreements evidencing such awards and the terms of the 2014 Plan.

In April 2026, subject to stockholder approval, the Company’s board of directors approved an amendment to the 2024 Plan, which was subsequently approved by the Company’s stockholders at the 2026 Annual Meeting of Stockholders and

became effective on June 25, 2026. The material amendments to the 2024 Plan included the following: (i) an increase to the maximum number of shares of our common stock issuable under the 2024 Plan by 1,200,000 shares and (ii) an increase to the maximum number of shares of our common stock issuable through incentive stock options (“ISOs”) granted under the 2024 Plan by 3,600,000 shares.

The aggregate number of shares of the Company's common stock that may be issued under the 2024 Plan will not exceed 2,676,335 shares, which number is the sum of: (i) 768,750 initially reserved under the 2024 Plan, plus (ii) 1,200,000 shares that were approved by the Company's stockholders on June 25, 2026, plus (iii) certain shares subject to outstanding awards granted under the 2014 Plan that may become available for grant under the 2024 Plan as such shares become available from time to time. As of June 30, 2026, there were 1,480,400 shares of common stock available for future issuance under the 2024 Plan.

As of June 30, 2026, there were 65,195 shares of common stock available for future issuance under the Company’s 2015 Inducement Award Plan (“2015 Plan”). During the six months ended June 30, 2026 and 2025, there were options to purchase 15,625 and zero shares of the Company’s common stock granted under the 2015 Plan. In August 2026, the Company’s board of directors amended the 2015 Plan and the aggregate number of shares of common stock that may issued pursuant to stock awards under the 2015 Plan was increased from 112,500 to 512,500 shares of common stock.

The activity for the Company’s 2024 Plan, 2014 Plan, and 2015 Plan, for the six months ended June 30, 2026, is summarized as follows:


	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value ($000)
Outstanding — December 31, 2025		443,651		$	37.38		6.49	$	—
Granted		35,000		$	5.48
Forfeited/Cancelled		(4,396	)	$	317.15
Outstanding — June 30, 2026		474,255		$	32.44		6.23	$	3
Exercisable — June 30, 2026		330,536		$	42.14		5.23	$	—
Vested or expected to vest — June 30, 2026		474,255		$	32.44		6.23	$	3

Restricted stock unit (“RSU”) activity under the 2024 Plan, 2014 Plan, and 2015 Plan for the six months ended June 30, 2026, is summarized as follows:


	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2025		332,974		$	11.66
Granted		290,747		$	5.83
Vested		(159,617	)	$	11.93
Expired		(25,000	)	$	13.92
Non-vested at June 30, 2026		439,104		$	7.57

The fair value of RSUs is based on the market price of the Company’s common stock on the date of grant. RSUs generally vest 33% annually over a three-year period from the date of grant. Upon vesting, the RSUs generally are net share settled to cover the required withholding tax with the remaining shares issued to the holder. The Company recognizes compensation expense for such awards ratably over the corresponding vesting period.

During the six months ended June 30, 2026 and 2025, the Company granted 102,624 and zero performance-based RSUs, respectively. The Company recognizes stock-based compensation expense for RSUs with performance conditions when it is probable that the conditions will be met and the award will vest. During the three and six months ended June 30, 2026 and 2025, there was zero stock-based compensation expense recognized for performance-based RSUs, respectively.

The stock-based compensation cost that has been charged against income for stock awards was $0.6 million and $0.8 million for the three months ended June 30, 2026 and 2025, respectively, and was $1.1 million and $1.6 million for the six

months ended June 30, 2026 and 2025, respectively. The Company accounts for forfeitures as they occur, which may result in the reversal of stock-based compensation costs in subsequent periods as the forfeitures arise. Stock-based compensation expense related to stock awards is included in the following line items in the accompanying unaudited condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Research and development	$	96	$	202	$	191	$	417
Selling, general and administrative		472		618		957		1,222
Total stock-based compensation expense	$	568	$	820	$	1,148	$	1,639