v3.26.1
STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2026
STOCK-BASED COMPENSATION  
STOCK-BASED COMPENSATION

NOTE 9: STOCK-BASED COMPENSATION

Stock Options

2026 Equity Incentive Awards

A summary of the Company’s stock option activity for the three months ended March 31, 2026 is as follows:

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Weighted Average

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Remaining

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Weighted Average 

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Contractual

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Number of Shares

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Exercise Price

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Total Intrinsic Value

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Life (in years)

Outstanding as of December 31, 2025

 

1,762,878

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$

7.77

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$

563,368

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8.5

Granted

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—

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—

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Exercised

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—

Cancelled/Expired

 

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—

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—

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—

Outstanding as of March 31, 2026

 

1,762,878

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$

7.77

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$

354,429

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8.3

Options vested and exercisable

 

533,772

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$

23.19

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$

6,402

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5.8

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The following table sets forth stock-based compensation expenses recorded during the respective periods:

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For the Three Months Ended

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March 31, 

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2026

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2025

Stock Compensation expenses:

 

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Research and development

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$

454

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$

305,510

General and administrative

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177,968

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73,634

Total stock compensation expenses

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$

178,422

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$

379,144

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As of March 31, 2026, the total stock-based compensation cost related to unvested awards not yet recognized was $0.8 million. The expected weighted average period compensation costs to be recognized was approximately 1.7 years. Future option grants will impact the compensation expense recognized.

During the three months ended March 31, 2025, the Company recorded incremental stock-based compensation expense of $0.3 million pertaining to the modification of stock options in connection with certain consultants. The modification resulted in an acceleration of $0.3 million in compensation expense that was immediately recognized and is reflected in operating expenses.