v3.26.1
STOCK BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF AWARDS OUTSTANDING

The following table presents a summary of awards outstanding:

 

   2009 Plan   2019 Plan   2022 Plan   Inducement Plan   Total 
   June 30, 2026 
   2009 Plan   2019 Plan   2022 Plan   Inducement Plan   Total 
Stock options   1,497,118    1,595,058    2,742,687    1,152,899    6,987,762 
RSUs/PSUs   -    -    4,128,216    -    4,128,216 
Total awards outstanding   1,497,118    1,595,058    6,870,903    1,152,899    11,115,978 
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

The following table summarizes stock-based compensation expenses included in operating expenses:

 

   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
   (in thousands)  
General and administrative  $1,398   $870   $2,365   $1,907 
Research and development   875    612    1,690    1,107 
Total stock-based compensation expenses  $2,273   $1,482   $4,055   $3,014 

 

   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
   (in thousands)  
Stock Options  $1,482   $1,245   $2,946   $2,674 
RSUs/PSUs   783    185    1,101    288 
ESPP   8    52    8    52 
Stock-based compensation expenses  $2,273   $1,482   $4,055   $3,014 
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

The following table summarizes the activity of the Company’s RSUs and PSUs:

 

  

Number of

RSUs and PSUs

  

Weighted

Average Grant

Date Fair Value

 
Outstanding, December 31, 2025   1,221,432   $4.41 
Granted   3,074,181    3.00 
Vested   (153,028)   4.53 
Forfeited   (14,369)   2.97 
Outstanding, June 30, 2026   4,128,216   $3.66 
SCHEDULE OF ASSUMPTIONS USED FOR OPTIONS GRANTED

The assumptions used for the options granted during the period are as follows:

 

   Six Months Ended June 30, 
   2026   2025 
Exercise prices  $3.03   $3.95 
Expected dividend yield   -    - 
Expected volatility   109%   100%
Risk-free interest rate   4.2%   4.4%
Expected term of options   6.3    7.0 
SCHEDULE OF STOCK OPTION ACTIVITY

The table below summarizes the Company’s stock option activities for the six months ended June 30, 2026:

 

  

Number of Shares

Subject to

Outstanding Options

  

Weighted

Average Exercise Price

(Per share)

  

Weighted

Average Remaining

Contractual Terms

(in Years)

  

Aggregate

Intrinsic Value

 
Outstanding at December 31, 2025   6,711,979   $3.92    6.51   $5,863 
Granted   426,168    3.19           
Cancelled   (18,492)   2.65           
Exercised   (5,542)   2.29           
Expired   (126,351)   4.83           
Outstanding at June 30, 2026   6,987,762   $4.22    7.21   $650 
Vested and exercisable, June 30, 2026   4,514,608   $5.02    3.98    - 
Unvested, June 30, 2026   2,473,154                
SCHEDULE OF WARRANTS ACTIVITIES

The table below summarizes the Company’s warrants activities for the six months ended June 30, 2026:

 

  

Number of

Warrant Shares

  

Exercise

Price Range

Per Share

  

Weighted Average

Exercise Price

 
Outstanding, December 31, 2025   7,930,785   $3.00 – $9.00   $5.30 
Granted   -    -    - 
Cancelled   -    -    - 
Exercised   -    -    - 
Expired   (177,395)   9.00    9.00 
Outstanding, June 30, 2026   7,753,390   $3.00 – $9.00    $5.22 
Vested and exercisable, June 30, 2026   7,753,390   $3.00 – $9.00    $5.22