| Schedule of Activity Under the Plan is Set Forth |
Activity under the Plan is set forth below:
| | | Options Outstanding | | Stock Option Activity | | Shares
Available for
Grant | | Number of
Options | | Weighted-
Average
Exercise Price
Per Share | | Weighted-
Average
Remaining
Contractual
Term
(in years) | | Balances at January 1, 2025 | | 1,560,091 | | | 2,972,055 | | | $ | 0.40 | | 3.00 | | Options granted | | (1,560,091 | ) | | 1,560,091 | | | $ | 1.26 | | | | Options exercised | | — | | | — | | | $ | — | | | | Options expired | | — | | | — | | | $ | — | | | | Options cancelled/forfeited | | 11,896 | | | (11,896 | ) | | $ | 0.63 | | | | Balances at June 30, 2025 | | 11,896 | | | 4,520,250 | | | $ | 0.70 | | 6.48 | | Exercisable at June 30, 2025 | | | | | 2,364,814 | | | $ | 1.04 | | 5.48 | | Vested and expected to vest at June 30, 2025 | | | | | 4,520,250 | | | | 0.70 | | 6.48 |
| | | Options Outstanding | | Stock Option Activity | | Shares
Available for
Grant | | Number of
Options | | Weighted-
Average
Exercise Price
Per Share | | Weighted-
Average
Remaining
Contractual
Term
(in years) | | Balances at December 31, 2023 | | 1,550,091 | | 2,982,055 | | | $ | 0.40 | | 3.70 | | Options granted | | — | | — | | | $ | — | | | | Options exercised | | — | | — | | | $ | — | | | | Options expired | | 10,000 | | (10,000 | ) | | $ | 0.001 | | | | Options cancelled/forfeited | | — | | — | | | $ | — | | | | Balances at June 30, 2024 | | 1,560,091 | | 2,972,055 | | | $ | 0.40 | | 3.53 | | Exercisable at June 30, 2024 | | | | 1,464,429 | | | $ | 0.49 | | 4.88 | | Vested and expected to vest at June 30, 2024 | | | | 2,972,055 | | | | 0.40 | | 3.53 |
|
Activity under the Plan is set forth below:
| | | Options Outstanding | | Stock Option Activity | | Shares
Available
for Grant | | Number of
Options | | Weighted-
Average
Exercise
Price Per
Share | | Weighted-
Average
Remaining
Contractual
Term
(in years) | | Balances at January 1, 2024 | | 1,550,091 | | 2,982,055 | | | $ | 0.40 | | 3.70 | | Options granted | | — | | — | | | $ | — | | | | Options exercised | | — | | — | | | $ | — | | | | Options expired | | 10,000 | | (10,000 | ) | | $ | 0.001 | | | | Options cancelled/forfeited | | — | | — | | | $ | — | | | | Balances at December 31, 2024 | | 1,560,091 | | 2,972,055 | | | $ | 0.40 | | 3.00 | | Exercisable at December 31, 2024 | | | | 1,548,910 | | | $ | 0.49 | | 4.32 | | Vested and expected to vest at December 31, 2024 | | | | 2,972,055 | | | | 0.40 | | 3.00 |
|
| Schedule of Stock Compensation Expense by Function Recognized for the Years |
The following table is a summary of stock compensation expense by function recognized for the three and six months ended June 30, 2025 and 2024 (in thousands):
|
|
|
Six months ended
June 30,
|
| |
|
2025
|
|
2024
|
|
General Administrative
|
|
$
|
33 |
|
$
|
4 |
|
Research and development
|
|
|
54 |
|
|
7 |
| |
|
$
|
87 |
|
$
|
11 |
|
|
|
Three months ended
June 30,
|
| |
|
2025
|
|
2024
|
|
General Administrative
|
|
$
|
31 |
|
$
|
2 |
|
Research and development
|
|
|
51 |
|
|
4 |
| |
|
$
|
82 |
|
$
|
6 |
|
The following table is a summary of stock compensation expense by function recognized for the years ended December 31, 2024 and 2023 (in thousands):
|
|
|
Years ended
December 31,
|
| |
|
2024
|
|
2023
|
|
General Administrative
|
|
$
|
7 |
|
$
|
10 |
|
Research and development
|
|
|
14 |
|
|
23 |
| |
|
$
|
21 |
|
$
|
33 |
|