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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Stock-Based Compensation |
Schedule of stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted- | ​ | Remaining | ​ | Aggregate
​ | ​ | ​ | ​ | Average | ​ | Contractual | ​ | Intrinsic Value
​ |  | Shares |  | Exercise Price |  | Term (years) |  | (in thousands)
Outstanding at December 31, 2024 |  | 6,850,889 | ​ | $ | 13.75 |  | 8.31 | ​ | $ | 2,946
Granted |  | 4,450,300 | ​ | $ | 6.53 | ​ | ​ | ​ | ​ | ​
Cancelled or forfeited |  | (74,905) | ​ | $ | 9.97 | ​ | ​ | ​ | ​ | ​
Expired | ​ | (473) | ​ | $ | 682.65 | ​ | ​ | ​ | ​ | ​
Outstanding at June 30, 2025 | ​ | 11,225,811 | ​ | $ | 10.89 | ​ | 8.56 | ​ | $ | 447
Vested and exercisable at June 30, 2025 | ​ | 3,570,804 | ​ | $ | 14.39 | ​ | 7.22 | ​ | $ | 302
Vested and expected to vest at June 30, 2025 |  | 11,225,811 | ​ | $ | 10.89 | ​ | 8.56 | ​ | $ | 447
Schedule of stock-based compensation expense | During the three and six months ended June 30, 2025 and 2024, the Company recorded stock-based compensation expense for employee and non-employee stock options and restricted stock, which was allocated as follows in the statements of operations (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
General and administrative | ​ | $ | 2,729 | ​ | $ | 2,531 | ​ | $ | 5,266 | ​ | $ | 4,581
Research and development | ​ | ​ | 1,622 | ​ | ​ | 920 | ​ |  | 2,924 | ​ |  | 1,624
Total | ​ | $ | 4,351 | ​ | $ | 3,451 | ​ | $ | 8,190 | ​ | $ | 6,205

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