v3.26.1
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-based Compensation Expense
The Company’s stock-based compensation expense was recognized in operating expenses as follows:
Three Months EndedSix Months Ended
(in thousands)June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Research and development$414 $376 $720 $777 
General and administrative1,017 843 1,757 1,726 
Total$1,431 $1,219 $2,477 $2,503 
Schedule of Allocation of Stock-based Compensation Expense by Plan
Three Months EndedSix Months Ended
(in thousands)June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Stock options and RSUs$1,419 $1,216 $2,455 $2,478 
Employee Stock Purchase Plan12 3 22 25 
Total$1,431 $1,219 $2,477 $2,503 
Schedule of Assumptions Used to Compute Fair Value of Employee Option Granted
The fair value of options granted during the three and six months ended June 30, 2026 and 2025 was estimated utilizing the following assumptions:
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Weighted
Average		Weighted
Average		Weighted
Average		Weighted
Average
Volatility98.83 %96.60 %99.53 %96.76 %
Expected term in years6.086.116.086.01
Dividend rate— %— %— %— %
Risk-free interest rate3.81 %3.96 %3.76 %4.35 %
Fair value of option on grant date$2.17 $0.24 $1.39 $0.44 
Schedule of Options Outstanding and Weighted Average Exercise Price
The following table summarizes the number of options outstanding and the weighted average exercise price:
Number of Shares Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life in Years
Aggregate
Intrinsic
Value
(in thousands)
Options outstanding December 31, 202517,613,352 $2.68 6.56$5,332 
Vested and exercisable at December 31, 202511,042,865 3.49 5.25$1 
Granted4,985,750 1.74 
Exercised(144,107)1.37 
Forfeited or expired(1,247,568)4.13 
Options outstanding June 30, 202621,207,427 2.42 7.13$16,908 
Vested and exercisable at June 30, 202612,584,038 $3.03 5.78$6,336