Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Stock-Based Compensation

A summary of stock option activity is presented below (in thousands, except per share and contractual life data).

A summary of stock option activity is presented below (in thousands, except per share and contractual life data).

							Weighted
				Weighted			Average
				Average			Remaining
				Exercise			Contractual
	Number of			Price			Life
	Shares			Per Share			(in Years)
Options outstanding as of December 31, 2025		8,366		$	2.23			6.09
Granted		429		$	1.20
Exercised		-			-
Forfeited or expired		(130)		$	2.07
Options outstanding, vested and expected to vest as of June 30, 2026		8,665		$	2.19			5.65
Options exercisable as of June 30, 2026		6,506		$	2.49			4.75

A summary of restricted stock activity and related information (in thousands, except per share data):

A summary of restricted stock activity and related information (in thousands, except per share data):

	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Outstanding as of December 31, 2025		800		$	1.15
Granted		-			-
Vested and released		-			-
Forfeited or expired		-			-
Outstanding as of June 30, 2026		800		$	1.15

The following table summarizes total stock-based compensation expense for stock options and RSUs, which is included in the statements of operations (in thousands):

The following table summarizes total stock-based compensation expense for stock options and RSUs, which is included in the condensed consolidated statements of operations (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Research and development, net	$	149		$	215		$	302		$	411
General and administrative, net		164			176			323			330
Total stock-based compensation expense	$	313		$	391		$	625		$	741

Summary of Option Grant using the Black-Scholes Option-pricing Model

		Six Months Ended June 30,
		2026			2025
Risk-free interest rate		3.76% to 4.35%			3.99% to 4.39%
Expected dividend yield		-%			-%
Expected volatility		100%			100%
Expected term		5.31 to 6.08 years			5.25 to 6.08 years