v3.26.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Allocated Stock-based Compensation Expense
The following table summarizes the components of stock-based compensation expense in the consolidated statements of operations for the three and six months ended June 30, 2026 and 2025 (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Research and development$250 $109 $490 $223 
General and administrative765 392 1,323 783 
Total stock-based compensation $1,015 $501 $1,813 $1,006 
Schedule of Stock Option Activity
The following table summarizes stock option activity of the Company for the six months ended June 30, 2026:
Total
Number of
Shares
(In Thousands)		Weighted
Average
Exercise
Price		Weighted Average Remaining Contractual Term (In Years)Aggregate
Intrinsic
Value
(In Thousands)
Outstanding at December 31, 20252,651 $3.19 
Canceled(2)0.87 
Outstanding at June 30, 20262,649 $3.19 6.95$32,336 
Vested and exercisable at June 30, 20261,888 $4.05 6.50$21,906 
Schedule of Assumptions for Option Grants Issued
The Company uses the Black-Scholes option-pricing model to determine the fair value of all its stock options granted. The weighted average assumptions used during the three and six months ended June 30, 2026 and 2025, were as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Risk free interest raten/an/an/a4.25 %
Volatilityn/an/an/a122.43 %
Expected term (years)n/an/an/a6.17
Expected dividend yieldn/an/an/a— %
Schedule of RSU Activity
The following table summarizes RSU activity of the Company for the six months ended June 30, 2026:

Shares
(In Thousands)		Weighted Average Grant Date Fair Value
Unvested at December 31, 2025897 $1.09 
Granted2,430 $5.57 
Unvested at June 30, 20263,327 $4.36