Stock Option Plan and Stock-Based Compensation

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Stock Option Plan and Stock-Based Compensation

8. Stock Option Plan and Stock-Based Compensation

The following table summarizes the activity in total shares of common stock available for issuance under the 2020 Plan:


	Shares Available for Grant
Balance, January 1, 2025		397,654
Shares added		—
Granted		(236,785	)
Forfeited		17,695
Balance, June 30, 2025		178,564

The following table summarizes the effects of stock-based compensation on cost of sales, research and development, and sales, general and administrative expenses granted under the 2010 Equity Incentive Plan and 2020 Equity Incentive Plan (collectively, the Plans) (in thousands) for the three and six months ended June 30, 2025 and 2024:


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Cost of sales	$	40	$	71	$	100	$	101
Research and development	$	330		873		719		1,148
Sales, general and administrative	$	395		694		797		940
Total	$	765	$	1,638	$	1,616	$	2,189

The total unrecognized stock-based compensation expense related to unvested stock options and subject to recognition in future periods was approximately $4.2 million at June 30, 2025. As of June 30, 2025, the Company anticipates this expense to be recognized over a weighted-average period of approximately 2.4 years.

During the three months ended June 30, 2025, the Company granted 330,706 stock options, presented on a post-reverse stock split basis, under the 2020 Equity Incentive Plan. Refer to Note 12 - Subsequent Events for additional information. No restricted stock units (RSUs) were granted during the three months ended June 30, 2025. During the six months ended June 30, 2025, the Company received $0.2 million from the exercise of stock options granted under the Plans and granted 71,427 RSUs to several non-employee directors, which RSUs vest upon satisfaction of a service-based condition and performance condition based on a liquidity event. The Company granted 47,618 RSUs in total during the three and six months ended June 30, 2024.