v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Stock-Based Compensation  
Schedule of stock-based compensation expense

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Three Months Ended June 30, 

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Six Months Ended June 30, 

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2026

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2025

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2026

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2025

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Research and development

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$

(71,000)

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$

17,000

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$

395,000

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$

33,000

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General and administrative

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887,000

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88,000

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1,055,000

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233,000

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Total stock-based compensation expense

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$

816,000

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$

105,000

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$

1,450,000

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$

266,000

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Schedule of stock option activity

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Options Outstanding

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Weighted

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Weighted-

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Average

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Average

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Remaining

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Aggregate

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Number

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Exercise

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Contractual

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Intrinsic

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of Shares

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Price

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Term (in years)

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Value

Balance, December 31, 2025

 

1,323,366

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$

3.55

 

9.11

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$

85,000

Granted

 

724,170

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$

1.60

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Forfeitures and expirations

 

(9,625)

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$

100.86

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Balance, June 30, 2026

 

2,037,911

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$

2.40

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9.04

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$

12,000

Exercisable at June 30, 2026

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540,167

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$

3.24

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7.64

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$

12,000

Vested and expected to vest at June 30, 2026

 

2,037,911

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$

2.40

 

9.04

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$

12,000

Schedule of weighted-average assumptions used for estimating the fair value of the stock compensation granted

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Six Months Ended June 30, 

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2026

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2025

 

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Risk-free interest rate

 

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3.76

%  

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4.17

%  

 

Expected volatility

 

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122.3

%  

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120.5

%  

 

Expected term

 

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5.5

years  

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5.3

years

 

Expected dividend yield

 

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—

%  

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—

%  

 

Weighted average grant date fair value

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$

1.38

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$

2.34

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Summary of RSU activity

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Number of Units

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Weighted average grant date fair value

Outstanding and unvested December 31, 2025

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156,563

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$ 4.97

Granted

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-

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$ -

Vested

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(10,113)

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$ 16.83

Outstanding and unvested June 30, 2026

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146,450

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$ 4.15