The number of shares of common stock outstanding decreased as a result of the Reverse Stock Split, and as such, all share and per share amounts have been retroactively adjusted for all periods presented to reflect the change in capital structure. Refer to Note 2 - Basis of Presentation and Critical Accounting Policies for further information.

Stock-based compensation expense is included in selling, general and administrative expense in our statements of operations and comprehensive loss. We recognized stock-based compensation expense of $0.1 million and $0.6 million for the three and nine months ended September 30, 2025, respectively.

Our 2018 Long-Term Incentive Equity Plan, as amended (the “2018 Plan”) provides for awards of options, stock appreciation rights, restricted stock, restricted stock units, warrants or other securities which may be convertible, exercisable or exchangeable for or into our common stock. As of September 30, 2025, there were 35,019 shares of common stock available to be issued under the 2018 Plan.

We reserved a total of 30,000 shares of our common stock for purchase by participants in our 2019 Employee Stock Purchase Plan (the “ESPP”). Participants in the ESPP may purchase shares of our common stock at a purchase price which will not be less than the lesser of 85% of the fair value per share of our common stock on the first day of the purchase period or the last day of the purchase period. As of September 30, 2025, 16,386 shares remained available for future issuance. The Company terminated the ESPP effective September 26, 2025.


	Shares Underlying Options	Weighted Average Per Share Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (In Thousands)
Options outstanding at December 31, 2024	57,767	$	102.81	9.25 years	$	—

Cancelled or terminated	(5,312)	262.07

Options outstanding at September 30, 2025	52,455	86.68		8.63 years	—
Options outstanding and vested at September 30, 2025	2,378	638.45		8.63 years	—


	Number of Restricted Stock Units	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2024	7,517	$	113.68
Granted	6,611	22.80
Vested	(12,540)	57.51
Forfeited	(1,156)	155.59
Outstanding at September 30, 2025	432	241.26

As of June 30, 2025, there were 10,194,174 warrants outstanding with an exercise price of $3.83 per share. After giving effect to the Reverse Stock Split on July 11, 2025, as of September 30, 2025, there were 339,807 warrants outstanding with an exercise price of $114.90 per share. Our warrants were recorded at fair value at the end of each reporting period and transaction date. Changes in fair value were recorded in our statements of operations and comprehensive loss. Warrant liabilities are categorized within Level 3 of the fair value hierarchy, which is defined as significant unobservable inputs, including our own assumptions in determining fair value.

As of June 30, 2025, there were 300,357 perpetual non-redeemable prefunded warrants outstanding with an exercise price of $0.01 per share. After giving effect to the Reverse Stock Split on July 11, 2025, as of September 30, 2025, there were 10,012 warrants outstanding with an exercise price of $0.30 per share. There was no activity related to these warrants during the nine months ended September 30, 2025.