v3.26.1
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense Related to Stock Options
The Company recorded stock-based compensation expense related to stock options and RSUs in the following expense categories of its condensed statements of operations and comprehensive loss for the periods shown (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
General and administrative$1,462 $1,491 $2,828 $2,983 
Research and development1,062 1,007 2,092 1,989 
Total stock-based compensation$2,524 $2,498 $4,920 $4,972 
Schedule of Assumptions Used for Valuation of Fair Value of Stock Options
The Black-Scholes option-pricing model was used to estimate the fair value of stock options granted during the six months ended June 30, 2026 and 2025 with the following weighted average assumptions:
Six Months Ended June 30,
20262025
Risk-free interest rate
3.70% - 4.34%
3.93% - 4.52%
Expected term (in years)
1.0 - 6.0
1.0 - 6.0
Expected volatility
84% - 90%
 76% - 92%
Expected dividend yield0%0%
Schedule of Stock Option Activity
The following table reflects summarized stock option activity during the six months ended June 30, 2026:
Stock OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual Life (in years)Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 202512,578,766$3.46 
Granted3,135,539$1.97 
Exercised(114,962)$1.50 
Forfeited(65,286)$2.11 
Expired(92,959)$2.32 
Outstanding as of June 30, 202615,441,098$3.18 7.1$362 
Vested and exercisable as of June 30, 20269,634,417$3.61 6.0$351 
Schedule of Nonvested Restricted Stock Units Activity
The following table reflects summarized RSU activity during the six months ended June 30, 2026:
Number of SharesWeighted Average Grant Date Fair Value
Unvested as of December 31, 20251,907,976$2.93 
Granted2,045,683$1.97 
Vested(869,203)$3.28 
Forfeited(25,685)$1.93 
Unvested as of June 30, 20263,058,771$2.20