v3.26.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK OPTION ACTIVITY

A summary of stock option activity for the six months ended June 30, 2026, is as follows (aggregate intrinsic values in thousands):

  

   Options  

Weighted average

exercise price

  

Aggregate

Intrinsic value

  

Weighted average

grant date

fair value

  

Weighted average

remaining

contractual Term

 
Balance at December 31, 2025   6,652,405   $15.54    -   $14.13    7.72 
Granted   406,819   2.89    -   2.33    9.22 
Forfeited   -    -    -    -    - 
Expired   (212,150)   13.96    -    22.92    - 
Outstanding and expected to vest at June 30, 2026   6,847,074    14.84    -    13.29    7.43 
Vested and exercisable at June 30, 2026   3,762,610    19.10    -    16.16    6.20 
SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL

The following table presents the weighted-average assumptions used in the Black-Scholes option-pricing model:

  

   Six Months Ended   Six Months Ended 
   June 30, 2026   June 30, 2025 
Weighted average risk-free interest rate   3.98%   4.05%
Weighted average expected volatility   93.94%   105.97%
Weighted average expected term (in years)   7.03    5.84 
Expected dividend yield   -    - 
Weighted average exercise price  $4.32   $31.50 
Estimated fair value of stock price  $4.17   $44.40 
SCHEDULE OF RESTRICTED STOCK UNIT

A summary of restricted stock unit activity for the six months ended June 30, 2026 is as follows:

  

  

Number of

Shares

  

Weighted Average

Grant Date

Fair Value

 
Nonvested at December 31, 2025   381,414   $5.10 
Granted   423,933    3.41 
Vested   (196,825)   4.08 
Forfeited   -    - 
Nonvested at June 30, 2026   608,522    4.52 
Vested not yet issued at June 30, 2026   29,373    6.98 
SCHEDULE OF ALLOCATION OF STOCK-BASED COMPENSATION EXPENSE

The allocation of stock-based compensation expense was as follows (in thousands):

  

       
   For the three months ended
June 30,
 
   2026   2025 
General, selling and administrative  $2,295   $5,896 
Research and development   1,405    3,814 
Total stock-based compensation  $3,700   $9,710 

 

       
   For the six months ended
June 30,
 
   2026   2025 
General, selling and administrative  $3,636   $11,167 
Research and development   3,420    4,619 
Total stock-based compensation  $7,056   $15,786