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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Expense | The Company recognized share-based compensation in its Condensed Statements of Operations and Comprehensive Loss during the three and nine month periods ended September 30, 2025 and 2024 as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Manufacture and supply | $ | 130 |  |  | $ | 102 |  |  | $ | 358 |  |  | $ | 271 |
Research and development | 1,310 |  |  | 310 |  |  | 2,048 |  |  | 788 |
Selling, general and administrative | 1,337 |  |  | 1,165 |  |  | 3,842 |  |  | 3,637 |
Total share-based compensation expenses | $ | 2,777 |  |  | $ | 1,577 |  |  | $ | 6,248 |  |  | $ | 4,696 |
Share-based compensation from: |  |  |  |  |  |  |
Restricted stock units | $ | 1,997 |  |  | $ | 1,049 |  |  | $ | 4,506 |  |  | $ | 2,982 |
Stock options | 780 |  |  | 528 |  |  | 1,733 |  |  | 1,698 |
Employee stock purchase plan (ESPP) | — |  |  | — |  |  | 9 |  |  | 16 |
Total share-based compensation expenses | $ | 2,777 |  |  | $ | 1,577 |  |  | $ | 6,248 |  |  | $ | 4,696 |
Schedule of Restricted Stock Units Awards | The following tables summarize the Company’s awards of service-based and market conditions vesting-based restricted stock units for the nine month period ended September 30, 2025:
Restricted Stock Unit Awards (RSUs) - Service-based: | Number of Units |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
Unvested as of December 31, 2024 | 2,610 |  |  | $ | 3.38 |
Granted | 1,481 |  |  | $ | 2.67 |
Vested | (1,054) |  |  | $ | 3.03 |
Forfeited | (145) |  |  | $ | 3.31 |
Unvested as of September 30, 2025 | 2,892 |  |  | $ | 3.15 |
Expected to vest as of September 30, 2025 | 2,717 |  |  | $ | 3.14 |
Schedule of Performance Share Activity |
Restricted Stock Unit Awards (RSUs) - Market conditions vesting-based: | Number of Units |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
Unvested as of December 31, 2024 | 1,082 |  |  | $ | 2.40 |
Granted | 784 |  |  | 2.51 |
Vested | — |  |  | — |
Forfeited | (86) |  |  | — |
Unvested as of September 30, 2025 | 1,780 |  |  | $ | 2.56 |
Expected to vest as of September 30, 2025 | 1,666 |  |  | $ | 2.55 |
Schedule of Valuation Assumptions | The Company’s estimates of the fair value of the 2025 market conditions vesting-based awards at their grant or valuation dates were based on a Monte Carlo simulation and considered various variables and the following assumptions:
| Nine Months Ended September 30, 2025
Expected dividend yield | 0%
Expected volatility | 91.5%
Risk-free interest rate | 3.9%
Stock price at grant date | $2.65
Schedule of Stock Option Activity |
Stock Option Awards: | Number of Options |  | Weighted Average Exercise Price
| (in thousands) |  |
Outstanding as of December 31, 2024 | 6,301 |  |  | $ | 5.68 |
Granted | 990 |  |  | 2.84 |
Exercised | (207) |  |  | 1.67 |
Forfeited/Expired | (144) |  |  | 4.70 |
Outstanding as of September 30, 2025 | 6,940 |  |  | $ | 5.42 |
Expected to vest as of September 30, 2025 | 6,848 |  |  | $ | 5.44 |
Exercisable as of September 30, 2025 | 5,444 |  |  | $ | 5.89 |
The fair values of stock options granted were estimated using the Black-Scholes pricing model based on the following assumptions:
| Nine Months Ended September 30, 2025 |  |
Expected dividend yield | —% | — | —% |  |
Expected volatility | 97% | — | 100% |  |
Expected term (years) | 5.5 | — | 6.1 |  |
Risk-free interest rate | 4.1% | — | 4.2% |  |

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