v3.26.1
Share-based Compensation Plans (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Option Activity

A summary of option activity for the six-month period ended June 30, 2026 is presented below:

 

 

 

Options

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding at December 31, 2025

 

 

876,533

 

 

$

6.68

 

 

 

 

 

 

 

Granted

 

 

64,288

 

 

 

15.36

 

 

 

 

 

 

 

Exercised

 

 

(19,142

)

 

 

6.86

 

 

 

 

 

 

 

Forfeited

 

 

(25,277

)

 

 

7.41

 

 

 

 

 

 

 

Expired

 

 

(1,399

)

 

 

7.21

 

 

 

 

 

 

 

Outstanding at June 30, 2026

 

 

895,003

 

 

$

7.28

 

 

 

6.40

 

 

$

4,327,728

 

Vested or expected to vest at June 30, 2026

 

 

895,003

 

 

$

7.28

 

 

 

6.40

 

 

$

4,327,728

 

Exercisable at June 30, 2026

 

 

648,821

 

 

$

5.79

 

 

 

5.79

 

 

$

3,926,788

 

Summary of Non-vested Stock Activity

A summary of non-vested stock activity for the six-month period ended June 30, 2026 is presented below:

 

 

 

Nonvested
Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

Outstanding at December 31, 2025

 

 

77,866

 

 

$

11.63

 

Granted

 

 

80,927

 

 

 

11.13

 

Vested

 

 

(80,433

)

 

 

10.92

 

Forfeited

 

 

(1,218

)

 

 

11.09

 

Outstanding at June 30, 2026

 

 

77,142

 

 

$

11.86

 

Summary of Share-based Compensation Expense The impact on the Company’s results of operations from share-based compensation for the three and six months ended June 30, 2026 and 2025, was as follows (in thousands):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

56

 

 

$

134

 

 

$

113

 

 

$

233

 

General and administrative

 

 

366

 

 

 

763

 

 

 

940

 

 

 

1,233

 

Total share-based compensation expense

 

$

422

 

 

$

897

 

 

$

1,053

 

 

$

1,466