v3.26.1
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Stock-based Compensation  
Summary of incentive plan activity

The following table summarizes the incentive plan activity for the six months ended June 30, 2026, and the year ended December 31, 2025:

(in thousands, except share and per share data)

 

Shares Available for Grant

 

 

Stock Options Outstanding

 

 

RSUs Outstanding

 

 

Weighted Average Stock Option Exercise Price

 

 

Weighted Average Remaining Contractual Life (Years)

 

 

Aggregate Intrinsic Value*

 

Balances as of January 1, 2025

 

 

506

 

 

 

871

 

 

 

6

 

 

$

 

10,900.05

 

 

 

9.77

 

 

$

 

—

 

Additional shares authorized

 

 

9,453

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

 

—

 

Options granted

 

 

(4,807

)

 

 

4,807

 

 

 

—

 

 

 

 

50.75

 

 

 

—

 

 

 

 

—

 

Options canceled

 

 

62

 

 

 

(62

)

 

 

—

 

 

 

 

1,128.75

 

 

 

—

 

 

 

 

—

 

RSUs granted

 

 

(5,181

)

 

 

—

 

 

 

5,181

 

 

 

 

—

 

 

 

—

 

 

 

 

—

 

RSUs vested and released

 

 

93

 

 

 

—

 

 

 

(93

)

 

 

 

—

 

 

 

—

 

 

 

 

—

 

RSUs cancelled

 

 

74

 

 

 

—

 

 

 

(74

)

 

 

 

—

 

 

 

—

 

 

 

 

—

 

Outstanding at December 31, 2025

 

 

200

 

 

 

5,616

 

 

 

5,020

 

 

$

 

311.43

 

 

 

9.77

 

 

$

 

—

 

Additional shares authorized

 

 

9,938

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

 

—

 

Options granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

 

—

 

Options exercised

 

 

323

 

 

 

(323

)

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

 

—

 

Options canceled

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

417.24

 

 

 

—

 

 

 

 

—

 

RSUs granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

 

—

 

RSUs vested

 

 

67

 

 

 

—

 

 

 

(67

)

 

 

 

—

 

 

 

—

 

 

 

 

—

 

RSUs cancelled

 

 

532

 

 

 

—

 

 

 

(532

)

 

 

 

—

 

 

 

—

 

 

 

 

—

 

Outstanding at June 30, 2026

 

 

11,060

 

 

 

5,293

 

 

 

4,421

 

 

$

 

205.44

 

 

 

9.29

 

 

$

 

—

 

Exercisable at June 30, 2026

 

 

 

 

2,723

 

 

 

 

 

$

 

236.53

 

 

9.25

 

 

$

 

—

 

Vested and expected to vest at June 30, 2026

 

 

 

 

2,723

 

 

 

 

 

$

 

236.53

 

 

9.25

 

 

$

 

—

 

* The fair market value of Jaguar stock on June 30, 2026, was $3.00 per share.
Summary of stock-based compensation expense

The following table summarizes stock-based compensation expenses related to stock options, inducement stock options, and RSUs for the three and six months ended June 30, 2026 and 2025, and are included in the condensed consolidated statements of operations as follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

June 30,

 

 

June 30,

 

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

(in thousands)

 

(unaudited)

 

 

(unaudited)

 

 

Research and development expense

 

$

 

59

 

 

$

 

92

 

 

$

 

116

 

 

$

 

209

 

 

Sales and marketing expense

 

 

 

—

 

 

 

 

36

 

 

 

 

(11

)

 

 

 

54

 

 

General and administrative expense

 

 

 

112

 

 

 

 

151

 

 

 

 

221

 

 

 

 

317

 

 

Total

 

$

 

171

 

 

$

 

279

 

 

$

 

326

 

 

$

 

580