v3.26.1
Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The fair value of service-based stock options granted to employees and non-employees was estimated on the grant date using the Black-Scholes valuation model with the following assumptions:

 

 

 

June 30, 2026

 

 

June 30, 2025

 

Dividend yield

 

 

0

%

 

 

0

%

Expected term

 

6 years

 

 

6 years

 

Risk-free interest rates

 

3.86%-4.25%

 

 

4.02%-4.42%

 

Expected volatility

 

102.09-105.65%

 

 

104.47%-106.86%

 

Summary of activity under the Company's stock options plans for service-based and market-based stock options

The following table summarizes activity under the Company’s stock options plans for service-based and market-based stock options:

 

 

 

Number of Shares Underlying Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Term (Years)

 

 

Intrinsic Value

 

Outstanding as of December 31, 2025

 

 

6,280,284

 

 

$

2.92

 

 

 

6.67

 

 

$

5,576,041

 

Granted

 

 

1,530,939

 

 

 

5.00

 

 

 

-

 

 

 

-

 

Forfeited

 

 

(21,246

)

 

 

12.53

 

 

 

-

 

 

 

-

 

Outstanding as of June 30, 2026

 

 

7,789,977

 

 

 

3.25

 

 

 

6.94

 

 

$

389,876

 

Vested and exercisable as of June 30, 2026

 

 

5,787,962

 

 

$

2.37

 

 

 

6.07

 

 

$

5,672,203

 

Shedule of restricted stock unit activity

The following table summarizes the restricted stock unit activity during the six months ended June 30, 2026:

 

 

 

Shares Outstanding

 

 

Weighted Average Grant Date Fair Value

 

Unvested balance-December 31, 2025

 

 

661,882

 

 

$

9.93

 

Granted

 

 

876,400

 

 

 

5.37

 

Vested

 

 

(266,709

)

 

9.62

 

Forfeited or canceled

 

 

(7,430

)

 

 

12.45

 

Unvested balance-June 30, 2026

 

 

1,264,143

 

 

$

6.82