Equity (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Summary of warrants outstanding |
| | | | | | | | | | | | | | | | | June 30, 2026 | | | Warrants | | Pre-Funded Warrants(1) | (in thousands, except per share data) | | Number | | Wtd. Avg. Exercise Price | | Wtd. Avg. Remaining Life (in years) | | Aggregate Intrinsic Value | | Number | | Wtd. Avg. Exercise Price | | Aggregate Intrinsic Value | Outstanding at beginning of year | | 2,128 | $ | 10.54 | | 3.37 | $ | — | | 280 | $ | 0.001 | $ | 1,554 | Granted | | — | | — | | | | | | — | | — | | | Exercised | | — | | — | | | | | | (33) | | 0.001 | | | Forfeited/Expired | | — | | — | | | | | | — | | — | | | Outstanding at end of period | | 2,128 | $ | 10.54 | | 2.87 | $ | — | | 247 | $ | 0.001 | $ | 905 | | | | | | | | | | | | | | | | (1) The pre-funded warrants have no expiration date and only expire when exercised in full. | | |
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| Schedule of outstanding, reserved and authorized shares under share-based compensation plans |
| | | | | | | June 30, | | December 31, | (in thousands) | | 2026 | | 2025 | Outstanding options and restricted stock units | | 320 | | 291 | Reserved but unissued shares under the A&R 2021 Plan | | 1,176 | | 149 | Total shares reserved under the A&R 2021 Plan at end of period | | 1,496 | | 440 |
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| Schedule of weighted-average assumptions utilized in the calculation of the fair market value of stock options granted |
| | | | | | June 30, | | | 2026 | Expected life | | 5.00 | years | Weighted average volatility | | 91.67 | % | Weighted average risk-free interest rate | | 4.07 | % | Expected dividend rate | | 0 | % |
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| Schedule of stock option activity |
| | | | | | | | | | | | June 30, | | | 2026 | (in thousands, except per share data) | | Options to Purchase Common Stock | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Life (in years) | | Aggregate Intrinsic Value | Outstanding at beginning of year | | 238 | | $ | 20.24 | | 3.64 | $ | 855 | Granted | | 23 | | $ | 3.94 | | | | | Exercised | | — | | $ | — | | | | | Forfeited/expired | | (19) | | $ | 17.16 | | | | | Outstanding at end of period | | 242 | | $ | 18.94 | | 4.12 | $ | — | Exercisable at end of period | | 190 | | $ | 15.28 | | 3.99 | $ | — | | | | | | | | | | |
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| Schedule of restricted stock unit activity |
| | | | | | | | | | | | June 30, | | | | 2026 | (in thousands, except per share data) | | | Number of Shares | | Weighted Average Grant Date Fair Value | | Weighted Average Contractual Life (in years) (1) | Nonvested at beginning of year | | | 53 | | $ | 8.36 | | 0.85 | Granted | | | 42 | | $ | 5.32 | | | Vested | | | (16) | | $ | 8.88 | | | Forfeited | | | (1) | | $ | 5.62 | | | Nonvested at end of period | | | 78 | | $ | 6.64 | | 1.44 | | | | | | | | | |
| 1) | Weighted Average Contractual Life calculation excludes the number of director RSUs that vest upon one of four performance events (refer to discussion above for details). |
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| Schedule of share-based compensation activity |
| | | | | | June 30, | (in thousands) | | 2026 | Reserved but unissued shares at beginning of period | | | 19 | Increases in the number of authorized shares | | | 10 | Grants | | | (1) | Reserved but unissued shares at end of period | | | 28 | | | | |
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| Restricted stock units |
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| Schedule of compensation expense |
| | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | June 30, | | June 30, | (in thousands, except per share data) | 2026 | 2025 | | 2026 | | 2025 | Share-based compensation expense | $ | 41 | $ | 34 | | $ | 75 | $ | 66 | | Weighted average value per share | $ | 7.45 | $ | 8.88 | | $ | 7.52 | $ | 8.90 | | | | | | | | | | | | |
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| Equity Incentive Plan |
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| Schedule of awards to employees stock in lieu of cash payment for compensation |
| | | | | | | | | | | | | | | | | | | For the Six Months Ended | | | June 30, | | | 2026 | | 2025 | (in thousands, except per share data) | | Number of Shares | | Fair Value | | Weighted Average per Share | | Number of Shares | | Fair Value | | Weighted Average per Share | Fair value of stock payments in accrued compensation | | 40 | | $ | 223 | | $ | 5.60 | | 33 | | $ | 279 | | $ | 8.57 | | | | | | | | | | | | | | | | | |
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| Consultant Stock Plan |
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| Schedule of compensation expense |
| | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | June 30, | | June 30, | (in thousands, except per share data) | 2026 | | 2025 | | 2026 | | 2025 | Share-based compensation expense | $ | 3 | | $ | 3 | | $ | 6 | | $ | 7 | Weighted average value per share | $ | 8.59 | | $ | 9.40 | | $ | 8.59 | | $ | 9.40 | | | | | | | | | | | | |
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| Non-Qualified Stock Option |
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| Schedule of stock option activity |
| | | | | | | | | | | | June 30, | | | 2026 | (in thousands, except per share data) | | Options to Purchase Common Stock | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Life (in years) | | Aggregate Intrinsic Value | Outstanding at beginning of year | | 49 | | $ | 15.27 | | 4.53 | $ | — | Granted | | — | | $ | — | | | | | Exercised | | — | | $ | — | | | | | Forfeited/expired | | — | | $ | — | | | | | Outstanding at end of period | | 49 | | $ | 15.27 | | 3.99 | $ | — | Exercisable at end of period | | 49 | | $ | 15.27 | | 3.99 | $ | — | | | | | | | | | | |
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