v3.25.3
Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Summary of Share-based Compensation Expense

Share-based compensation expense for options granted under the 2016 Plan is reflected in the consolidated statements of operations as follows (in thousands):

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

292

 

 

$

386

 

 

$

794

 

 

$

1,190

 

General and administrative

 

 

385

 

 

 

521

 

 

 

1,119

 

 

 

1,383

 

Total

 

$

677

 

 

$

907

 

 

$

1,913

 

 

$

2,573

 

 

Summary of Activity Related to Stock Options

The following table summarizes the activity related to stock options granted under the 2011 Plan and the 2016 Plan during the nine months ended September 30, 2025:

 

 

 

 

 

Weighted

 

 

 

Number of

 

 

Average

 

 

 

Shares

 

 

Exercise Price

 

Options outstanding at December 31, 2024

 

 

842,867

 

 

$

36.97

 

Granted

 

 

171,695

 

 

 

14.20

 

Forfeited

 

 

(45,830

)

 

 

19.16

 

Options outstanding at September 30, 2025

 

 

968,732

 

 

 

33.78

 

 

 

 

 

 

 

 

Options exercisable at December 31, 2024

 

 

509,428

 

 

 

47.90

 

 

 

 

 

 

 

 

Options exercisable at September 30, 2025

 

 

634,079

 

 

 

42.59

 

Restricted Stock Units (RSUs)  
Summary of Share-based Compensation Expense

The total share-based compensation expense related to RSUs is reflected in the consolidated statements of operations as follows (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

34

 

 

$

118

 

 

$

117

 

 

$

355

 

General and administrative

 

 

35

 

 

 

137

 

 

 

126

 

 

 

410

 

Total

 

$

69

 

 

$

255

 

 

$

243

 

 

$

765

 

Summary of the Activity Related to RSUs

The following table summarizes the activity related to RSUs during the nine months ended September 30, 2025:

 

 

 

 

 

 

Weighted Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Non-vested RSUs outstanding at December 31, 2024

 

 

29,155

 

 

$

44.36

 

Vested

 

 

(20,721

)

 

 

49.04

 

Non-vested RSUs outstanding at September 30, 2025

 

 

8,434

 

 

 

32.85