Share-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Share-Based Compensation Expense |
The Company recognized share-based compensation in its Condensed Statements of Operations and Comprehensive Loss during the three and six months ended June 30, 2026 and 2025 as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Manufacture and supply | $ | 66 | | | $ | 128 | | | $ | 135 | | | $ | 228 | | | Research and development | 313 | | | 408 | | | 549 | | | 738 | | | Selling, general and administrative | 2,516 | | | 1,348 | | | 4,529 | | | 2,505 | | | Total share-based compensation expenses | $ | 2,895 | | | $ | 1,884 | | | $ | 5,213 | | | $ | 3,471 | | | | | | | | | | | Share-based compensation from: | | | | | | | | | Restricted stock units | $ | 1,821 | | | $ | 1,407 | | | $ | 3,476 | | | $ | 2,509 | | | Stock options | 1,062 | | | 468 | | | 1,725 | | | 953 | | | | | | | | | | | Employee stock purchase plan (ESPP) | 12 | | | 9 | | | 12 | | | 9 | | | Total share-based compensation expenses | $ | 2,895 | | | $ | 1,884 | | | $ | 5,213 | | | $ | 3,471 | |
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| Schedule of Restricted Stock Units Awards |
The following tables summarize the Company’s awards of service-based and market conditions vesting-based restricted stock units for the six month period ended June 30, 2026: | | | | | | | | | | | | | Restricted Stock Unit Awards (RSUs) - Service-based: | Number of
Units | | Weighted
Average
Grant Date Fair
Value | | (in thousands) | | | | Unvested as of December 31, 2025 | 2,684 | | | $ | 3.24 | | | Granted | 1,418 | | | $ | 4.28 | | | Vested | (1,367) | | | $ | 2.63 | | | Forfeited | (26) | | | $ | 4.12 | | | Unvested as of June 30, 2026 | 2,709 | | | $ | 4.08 | | | Expected to vest as of June 30, 2026 | 2,504 | | | $ | 4.09 | | | | | |
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| Schedule of Stock Option Activity |
| | | | | | | | | | | | | Restricted Stock Unit Awards (RSUs) - Market conditions vesting-based: | Number of
Units | | Weighted
Average
Grant Date Fair
Value | | (in thousands) | | | | Unvested as of December 31, 2025 | 1,728 | | | $ | 2.55 | | Granted (a) | 541 | | | 2.40 | | | Vested | (1,706) | | | 2.28 | | | Forfeited | — | | | — | | | Unvested as of June 30, 2026 | 563 | | | $ | 2.82 | | | Expected to vest as of June 30, 2026 | 517 | | | $ | 2.82 | | | | | |
(a) The 2023 market conditions vesting-based restricted stock units vested at 150% in May 2026. These additional units were granted during the three months ended June 30, 2026. | | | | | | | | | | | | | Stock Option Awards: | Number of
Options | | Weighted Average
Exercise Price | | (in thousands) | | | | Outstanding as of December 31, 2025 | 6,558 | | | $ | 5.59 | | | Granted | 1,324 | | | 4.21 | | | Exercised | (36) | | | 0.76 | | | Forfeited/Expired | (1) | | | 3.84 | | | Outstanding as of June 30, 2026 | 7,845 | | | $ | 5.38 | | | Expected to vest as of June 30, 2026 | 7,696 | | | $ | 5.40 | | | Exercisable as of June 30, 2026 | 5,806 | | | $ | 5.83 | |
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| Schedule of Stock Option Valuation Assumptions |
The Company’s estimates of the fair value of the 2025 market conditions vesting-based awards at their grant or valuation dates were based on a Monte Carlo simulation and considered various variables and the following assumptions: | | | | | | | Expected dividend yield | 0% | | Expected volatility | 91.5% | | Risk-free interest rate | 3.9% | Stock price at grant date | $2.65 |
The fair values of stock options granted were estimated using the Black-Scholes pricing model based on the following assumptions: | | | | | | | | | | | | | | | Six Months Ended
June 30, 2026 | | | | Expected dividend yield | —% | — | —% | | | | Expected volatility | 96% | — | 98% | | | | Expected term (years) | 5.5 | — | 6.1 | | | | Risk-free interest rate | 3.8% | — | 4.4% | | |
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