XML 110 R40.htm IDEA: XBRL DOCUMENT v3.25.3
Share-Based Compensation (Tables)
9 Months Ended
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,
 2025202420252024
Manufacture and supply$130 $102 $358 $271 
Research and development1,310 310 2,048 788 
Selling, general and administrative1,337 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 options780 528 1,733 1,698 
Employee stock purchase plan (ESPP)— — 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, 20242,610 $3.38 
Granted1,481 $2.67 
Vested(1,054)$3.03 
Forfeited(145)$3.31 
Unvested as of September 30, 20252,892 $3.15 
Expected to vest as of September 30, 20252,717 $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, 20241,082 $2.40 
Granted784 2.51 
Vested— — 
Forfeited(86)— 
Unvested as of September 30, 20251,780 $2.56 
Expected to vest as of September 30, 20251,666 $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 yield0%
Expected volatility91.5%
Risk-free interest rate3.9%
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, 20246,301 $5.68 
Granted990 2.84 
Exercised(207)1.67 
Forfeited/Expired(144)4.70 
Outstanding as of September 30, 20256,940 $5.42 
Expected to vest as of September 30, 20256,848 $5.44 
Exercisable as of September 30, 20255,444 $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 volatility97%100%
Expected term (years)5.56.1
Risk-free interest rate4.1%4.2%