v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Stock-Based Compensation  
Schedule of stock-based compensation expense

Three Months Ended June 30, 

Six Months Ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Research and development

$

(71,000)

$

17,000

$

395,000

$

33,000

General and administrative

887,000

88,000

1,055,000

233,000

Total stock-based compensation expense

$

816,000

$

105,000

$

1,450,000

$

266,000

Schedule of stock option activity

  ​ ​ ​

Options Outstanding

Weighted

Weighted-

Average

Average

Remaining

Aggregate

Number

Exercise

Contractual

Intrinsic

  ​ ​ ​

of Shares

  ​ ​ ​

Price

  ​ ​ ​

Term (in years)

  ​ ​ ​

Value

Balance, December 31, 2025

 

1,323,366

$

3.55

 

9.11

$

85,000

Granted

 

724,170

$

1.60

 

Forfeitures and expirations

 

(9,625)

$

100.86

 

Balance, June 30, 2026

 

2,037,911

$

2.40

9.04

$

12,000

Exercisable at June 30, 2026

540,167

$

3.24

7.64

$

12,000

Vested and expected to vest at June 30, 2026

 

2,037,911

$

2.40

 

9.04

$

12,000

Schedule of weighted-average assumptions used for estimating the fair value of the stock compensation granted

Six Months Ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

 

  ​ ​ ​

Risk-free interest rate

 

3.76

%  

4.17

%  

 

Expected volatility

 

122.3

%  

120.5

%  

 

Expected term

 

5.5

years  

5.3

years

 

Expected dividend yield

 

%  

%  

 

Weighted average grant date fair value

$

1.38

$

2.34

Summary of RSU activity

Number of Units

Weighted average grant date fair value

Outstanding and unvested December 31, 2025

156,563

$ 4.97

Granted

-

$ -

Vested

(10,113)

$ 16.83

Outstanding and unvested June 30, 2026

146,450

$ 4.15