v3.26.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
STOCK-BASED COMPENSATION  
Summary of the activity of restricted stock awards

Weighted Average

Number of

Grant Date

  ​ ​ ​

RSUs

Fair Value

Outstanding at December 31, 2025

 

$

Granted

 

15,000

 

24.81

Vested

 

 

Expired/Cancelled

 

 

Outstanding at June 30, 2026

 

15,000

$

24.81

Warrant  
STOCK-BASED COMPENSATION  
Schedule of warrant activity

Weighted Average

  ​ ​ ​

Warrants

  ​ ​ ​

Exercise Price

Outstanding at December 31, 2025

 

3,345,922

$

5.70

Granted

Exercised

Outstanding at June 30, 2026

 

3,345,922

$

5.70

Employee Stock Option  
STOCK-BASED COMPENSATION  
Schedule of fair value of option using Black-Scholes option

  ​ ​ ​

Six months ended June 30, 

 

2026

2025

Expected volatility

 

125 - 197

%  

112 - 115

%

Expected term

 

1 - 6 years

 

5 - 6 years

Dividend yield

 

0

%  

0

%

Risk-free interest rates

 

3.5 - 4.3

%  

3.9 - 4.5

%

Schedule of employee and non-employee stock based compensation expense

  ​ ​ ​

Three months ended June 30, 

Six months ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

General and administrative

$

2,802,251

$

1,716,687

$

5,594,125

$

4,717,501

Research and development

 

3,260,674

 

1,930,466

 

6,386,855

 

4,669,051

Total

$

6,062,925

$

3,647,153

$

11,980,980

$

9,386,552

Schedule of employee and non-employee stock option

Number of

Weighted Average

Aggregate

  ​ ​ ​

Options

  ​ ​ ​

Exercise Price

  ​ ​ ​

Intrinsic Value

Outstanding at December 31, 2025

 

12,313,107

$

6.27

 

Granted

 

2,200,200

 

25.72

 

  ​

Exercised

 

(738,080)

 

4.83

 

$

18,652,838

Expired/Cancelled

 

(180,985)

 

20.51

 

  ​

Outstanding at June 30, 2026

 

13,594,242

$

9.30

$

204,403,756

Exercisable at June 30, 2026

 

8,776,065

$

5.35

$

164,472,428