Total share-based expense related to stock options and restricted stock units (“RSUs”) was approximately $16,000 and $28,000 for the three months ended September 30, 2025 and 2024, respectively, and approximately $0.1 million for both the nine months ended September 30, 2025 and 2024.

Share-based expense is classified in the condensed consolidated statements of operations as follows: 

Employee Stock Options and RSUs

No stock option awards to purchase shares of common stock were granted during the three and nine months ended September 30, 2025. During the nine months ended September 30, 2024, 20,000 stock options to purchase shares of common stock were granted by the Company. No stock options to purchase shares of common stock were granted during the three months ended September 30, 2024. No RSUs were granted during each of the three and nine months ended September 30, 2025 and 2024. The Company recognized a total of approximately $16,000 and $28,000 of share-based expense related to employee stock options during the three months ended September 30, 2025 and 2024, respectively, and approximately $0.1 million during both the nine months ended September 30, 2025 and 2024. No employee stock options or RSUs were exercised during the three and nine months ended September 30, 2025. The Company issued 417 shares of common stock during the nine months ended September 30, 2024 related to RSUs representing all RSUs outstanding. No employee stock options were exercised during the three and nine months ended September 30, 2024. During the three and nine months ended September 30, 2025, options to purchase 1,585 shares and 91,463 shares of common stock expired. During each of the three and nine months ended September 30, 2024 stock options to purchase 20,847 shares of common stock were cancelled and, during the nine months ended September 30, 2024, stock options to purchase 11,667 shares of common stock were forfeited.

Non-Employee Stock Options

There were no non-employee stock options granted or exercised during each of the three and nine months ended September 30, 2025 and 2024. During the three and nine months ended September 30, 2025, options to purchase 253 shares of common stock expired. As of September 30, 2025 no non-employee stock options were outstanding. No non-employee stock option grants expired during each of the three and nine months ended September 30, 2025 and 2024. The Company did not recognize any expense related to non-employee stock options during each of the three and nine months ended September 30, 2025 and 2024.