v3.26.1
Equity Incentive Plan (Tables)
6 Months Ended
Jun. 30, 2026
Equity Incentive Plan  
Summary of the Company's stock option activity

Weighted Average

Grant Date

Weighted Average

  ​ ​ ​

Shares

  ​ ​ ​

Fair Value

  ​ ​ ​

Exercise Price

Options outstanding as of December 31, 2025

 

3,531,980

$

2.35

$

3.64

Options granted

 

798,500

 

1.38

1.86

Options canceled/forfeited

 

(471,894)

 

1.95

3.25

Options outstanding as of June 30, 2026

3,858,586

$

2.20

$

3.32

Schedule of assumptions to determine grant-date fair value of stock options granted during the period

Six Months Ended June 30

2026

  ​ ​ ​

2025

Grant date fair value

$

1.38

$

1.63

Volatility

85

80

%

Expected term (years)

6.08

6.01

Risk-free interest rate

4.04

4.06

Expected dividend yield

Schedule of unvested restricted stock units

Weighted Average

Grant Date Fair

Numbers of Shares

Value per Share

Outstanding as of December 31, 2025

 

20,303

$

4.19

Granted

70,000

2.08

Vested

(73,282)

2.17

Canceled/forfeited

(1,498)

4.13

Outstanding as of June 30, 2026

15,523

$

4.21

Total unrecognized expense remaining

$

46,240

Years unrecognized expense expected to be recognized over

0.75

Schedule of stock-based compensation expense recognized for stock options granted to employees and non-employees

Three Months Ended June 30

Six Months Ended June 30

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Research and development

 

$

255,996

 

$

311,342

 

$

514,530

 

$

579,310

General and administrative

 

310,053

 

210,677

 

455,029

 

362,213

Total stock-based compensation

 

$

566,049

 

$

522,019

 

$

969,559

 

$

941,523