v3.26.1
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Values of Stock Options Granted and Assumptions Used in Black-Scholes Model The weighted average fair value of stock options granted, and the assumptions used for the Black-Scholes option pricing model were as follows:

Six Months Ended June 30,
20262025
Weighted average fair value of stock options granted$1.18 $1.92 
Assumptions:
Risk-free interest rate
3.6% - 4.3%
4.1%
Expected volatility
109.7% - 112.6%
106.2% - 110.5%
Expected term (in years)
5.0 - 6.3
5.5 - 6.0
Schedule of Information on Stock Option Activity Information on stock option activity is as follows:
Options
Exercisable
Weighted Average
Exercise
Price Per
Share
Options
Outstanding
Weighted Average
Exercise
Price Per
Share
Balance as of December 31, 2025382,808$99.71 1,358,797$30.25 
Granted—— 2,535,7851.40 
Vested540,5602.44 —— 
Exercised—— —— 
Expired(57,740)96.81 (57,740)96.81 
Forfeited(31,770)4.55 (31,770)4.55 
Balance as of June 30, 2026833,858$40.48 3,805,072$10.23 
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense related to stock option awards is as follows:
Three Months Ended June 30,Six Months Ended June 30,
In Thousands2026202520262025
Stock-based compensation expense$375 $313 $830 $545 
Stock-based compensation expense related to RSAs is as follows:
Three Months Ended June 30,Six Months Ended June 30,
In Thousands2026202520262025
Stock-based compensation expense$574 $1,196 $1,193 $3,036 


Stock-based compensation expense related to RSUs is as follows:
Three Months Ended June 30,Six Months Ended June 30,
In Thousands2026202520262025
Stock-based compensation expense$535 $469 $1,032 $896 
Certain consolidated statement of operations amounts were as follows:
Three Months Ended June 30,Six Months Ended June 30,
In Thousands2026202520262025
Stock-based compensation expense:
Research and development$517 $653 $1,045 $1,621 
Selling, general, and administrative967 1,325 2,010 2,856 
Total$1,484 $1,978 $3,055 $4,477 
Schedule of Nonvested Share Activity


Information on RSA activity is as follows:
Restricted Stock
Awards
Weighted Average Grant
Date Fair Value
Unvested balance as of December 31, 202585,185$31.50 
Granted—— 
Vested(43,819)31.50 
Forfeited(1,309)31.50 
Unvested balance as of June 30, 202640,057$31.50 
Information on RSU activity is as follows:
Restricted Stock
Units
Weighted Average Grant
Date Fair Value
Unvested balance as of December 31, 20251,359,207$3.73 
Granted1,799,8611.35 
Vested(293,017)4.57 
Forfeited(36,234)2.75 
Unvested balance as of June 30, 20262,829,817$2.15 
Schedule of Grant Date Fair Value of Awards Vested

The total fair value of RSAs that vested is as follows:
Three Months Ended June 30,Six Months Ended June 30,
In Thousands2026202520262025
Fair value of shares vested$32 $85 $86 $216 

The total fair value of RSUs that vested is as follows:
Three Months Ended June 30,Six Months Ended June 30,
In Thousands2026202520262025
Fair value of shares vested$199 $89 $599 $123