The fair value of option awards are estimated on the date of grant using the Black-Scholes model. Expected volatility was based on historical volatility of the Company’s common shares. The expected term of options granted was based on the simplified method. The risk-free interest rate was based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. The dividend yield assumption was based on the expectation of no future dividend payments. Option awards can be granted for a maximum term of up to 10 years.


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Expected volatility	—	148.0%	—	148.0%
Expected term (in years)	—	3.5	—	3.5
Risk-free interest rate	—	4.0%	—	4.0%
Dividend yield	—	—	—	—


	Shares Subject to Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Options outstanding — January 1, 2026	56,586	$	36.18

Exercised	—	$	—
Forfeited	(8,035)	$	126.00
Options outstanding — June 30, 2026	48,551	$	21.31	0.4	$	—
Vested and expected to vest — June 30, 2026	48,551	$	21.31	0.4	$	—
Exercisable — June 30, 2026	48,551	$	21.31	0.4	$	—


	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding — January 1, 2026	179,165	$	6.23
Granted	1,860,295	$	2.77
Vested and released	(482,626)	$	2.31
Forfeited	—	$	—
Outstanding — June 30, 2026	1,556,834	$	3.31
Vested and unreleased — June 30, 2026	7,813	$	8.66

The estimated fair value of RSUs was based on the closing market value of the Company’s common shares on the date of grant. RSUs typically vest over a period of 12 months to three years from the original date of grant. The total grant date fair value of RSUs vested during the six months ended June 30, 2026 and 2025 was approximately $1.1 million and $0.9 million, respectively. The fair value of RSUs vested during the six months ended June 30, 2026 and 2025 was approximately $0.9 million and $0.6 million, respectively.

In July 2025, the Company entered into a financial advisory agreement and issued to non-employees RSU grants with a performance condition, of which 50% of the RSUs were vested on the date of grant and the common shares issued. On June 1, 2026, the outstanding RSUs vested upon the achievement of the specific performance condition. See Note 15 Commitments and Contingencies for more information on the related financial advisory agreement. The total grant date fair value of RSUs vested during the six months ended June 30, 2026 and 2025 was $0.2 million and nil, respectively. The fair value of RSUs with a performance condition vested during the six months ended June 30, 2026 and 2025 was $0.1 million and nil, respectively.


	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding — January 1, 2026	37,036	$	6.25

Vested	(37,036)	$	6.25

Outstanding — June 30, 2026	—	$	—

During the six months ended June 30, 2026, there were 135,403 fully vested RSAs granted in lieu of cash payment for services performed. The fair value of the RSAs granted of approximately $0.2 million was based on the closing price of the Company’s common shares on the date of grant. There were no RSAs granted during the six months ended June 30, 2025.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Total share-based compensation expense - general and administrative	$	897	$	318	$	1,222	$	389

Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized (in thousands, unless otherwise noted):