v3.26.1
Stock-Based Awards (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Valuation Assumptions to Grant-Date Fair Value of Stock Options Granted The assumptions that the Company used to determine the grant-date fair value of the stock options granted during the six months ended June 30, 2026 were as follows, presented on a weighted average basis:

 

 

Six Months Ended June 30,

 

 

 

2026

 

Risk-free interest rate

 

 

4.1

%

Expected term (in years)

 

 

6.3

 

Expected volatility

 

 

104.3

%

Expected dividend rate

 

 

0

%

 
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since January 1, 2026:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price Per Share

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

Outstanding at January 1, 2026

 

 

3,143,997

 

 

$

5.21

 

 

 

6.1

 

 

$

158

 

Granted

 

 

402,000

 

 

 

1.17

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited/Canceled

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding at June 30, 2026

 

 

3,545,997

 

 

$

4.75

 

 

 

6.1

 

 

$

117

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at June 30, 2026

 

 

2,522,539

 

 

$

5.87

 

 

 

5.1

 

 

$

102

 

Options vested and expected to vest at June 30, 2026

 

 

3,511,011

 

 

$

4.78

 

 

 

6.1

 

 

$

116

 

Options exercisable at December 31, 2025

 

 

2,418,033

 

 

$

6.00

 

 

 

5.4

 

 

$

138

 

Options vested and expected to vest at December 31, 2025

 

 

3,120,459

 

 

$

5.23

 

 

 

6.1

 

 

$

157

 
Summary of Stock Based Compensation Expense

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development expenses

$

31

 

 

$

55

 

 

$

62

 

 

$

119

 

General and administrative expenses

 

133

 

 

 

201

 

 

 

258

 

 

 

401

 

Total stock-based compensation expense

$

164

 

 

$

256

 

 

$

320

 

 

$

520