v3.26.1
STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Stock-Based Compensation Expense
During the three months ended March 31, 2026 and 2025, the Company recorded stock-based compensation expense within the condensed consolidated statements of operations as follows:
Three Months Ended March 31,
20262025
Research & development$— $— 
Selling, general and administrative1,908 456 
Total$1,908 $456 
During the three months ended March 31, 2026 and 2025, the Company recorded stock-based compensation expense based on the type of award as follows:
Three Months Ended March 31,
20262025
Stock options$1,240 $404 
Restricted stock units668 52 
Total$1,908 $456 
The following provides detail regarding future stock-based compensation as of March 31, 2026:
As of March 31, 2026
Unamortized ExpenseRemaining Life
Stock options$11,056 2.20 years
Restricted stock units$5,169 2.16 years
Schedule of Share-Based Payment Arrangement, Option, Activity
The activity related to stock options during the three months ended March 31, 2026 consisted of the following:
Stock OptionsNumber of
Shares		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Life		Aggregate Intrinsic Value (thousands)
Outstanding December 31, 20251,506,551$15.96 $— 
Granted47,47523.01 
Expired(14,663)17.08 
Exercised—— 
Outstanding March 31, 20261,539,363$16.17 9.22 years$11,001 
Exercisable March 31, 2026187,360$31.85 8.78 years$1,309 
Vested and expected to vest March 31, 20261,539,363$16.17 9.22 years$11,001 
The activity related to stock options during the three months ended March 31, 2025 consisted of the following:
Stock OptionsNumber of
Shares		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Life		Aggregate Intrinsic Value (thousands)
Outstanding December 31, 202487,049 $58.48 $— 
Granted— — 
Expired— — 
Exercised— — 
Outstanding March 31, 202587,049 $58.48 8.49 years$111 
Exercisable March 31, 202542,524 $96.51 8.69 years$43 
Vested and expected to vest March 31, 202587,049 $58.48 8.49 years$111 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following weighted-average assumptions were used to estimate the fair value of stock options granted during the three months ended March 31, 2026 as no options were granted for the three months ended March 31, 2025:
For The Three Months Ended
March 31,
2026
Expected volatility88.37 %
Risk-free interest rate3.86 %
Expected term (in years)6
Expected dividend yield— %
Weighted-average fair value per option$17.30 
Schedule of Nonvested Restricted Stock Units Activity
The activity related to RSUs during the three months ended March 31, 2026 consisted of the following:
Non-vested RSUsRSUsWeighted-
Average
Grant Date
Fair Value
Non-vested at December 31, 2025464,921$13.98 
Granted15,57623.01 
Vested(15,488)12.64 
Forfeited(4,814)17.08 
Non-vested at March 31, 2026460,195$14.30 
The activity related to RSUs during the three months ended March 31, 2025 consisted of the following:
Non-vested RSUsRSUsWeighted-
Average
Grant Date
Fair Value
Non-vested at December 31, 202429,218$10.77 
Granted—— 
Vested(4,635)10.77 
Forfeited—— 
Non-vested at March 31, 202524,583$10.77