v3.26.1
SHAREHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2025
SHAREHOLDERS' EQUITY  
Schedule of warrants outstanding

The following table summarizes warrant activities during the year ended December 31, 2024 and the year ended December 31, 2025:

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Weighted

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ADSs Underlying

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Average Exercise

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Warrants

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Price Per ADS

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Outstanding and exercisable at December 31, 2023

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24,688

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$

564.52

*

Granted Warrants

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1,095,635

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​

17.39

*

Granted Pre-Funded Warrants

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434,988

​

​

—

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Exercised Pre-Funded Warrants

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(114,626)

​

​

—

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Terminated

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(21)

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$

57,750.00

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Outstanding and exercisable at December 31, 2024

​

1,440,664

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$

16.80

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Granted Warrants

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8,036,364

​

​

11.03

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Granted Pre-Funded Warrants

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1,993,939

​

​

—

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Exercised Warrants

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(222,801)

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​

15.75

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Exercised Pre-Funded Warrants

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(1,004,711)

​

​

—

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Terminated

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(2,215)

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$

433.54

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Outstanding and exercisable at December 31, 2025

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10,241,240

​

$

10.59

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*Note that the exercise price of certain ordinary warrants issued in the Company’s 2022 Offering and 2023 Offering were reduced from $462.00 to $56.00 per ADS for investors who participated in the March 2024 Offering, and the exercise price of certain ordinary warrants issued in the 2022 Offering, 2023 Offering and March 2024 Offering were reduced from $56.00 to $15.75 per ADS for certain investors who participated in the December 2024 Offering, see above.