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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Designated Preferred Units As of September 30, 2025, the Company has designated the following preferred stock:
Designated Preferred SharesSeptember 30, 2025
Series A4,200 
Series B2,360 
Series C590 
Series D10,000 
Series E 40,000 
Series E-112,960 
Series F-1 24,900 
Series F-224,900 
Series F-334,860 
Series F-424,900 
Total179,670 
Schedule of Avenue Warrant Valued Using the Black-Scholes Option Pricing Method
The Company values stock options using the Black-Scholes option pricing model and used the following assumptions, on a weighted-average basis, during the reporting periods:
 Nine Months Ended September 30,
 20252024
Expected terms (years)5.75.6
Expected volatility89.1%114.0%
Risk-free interest rate4.30%4.20%
Expected dividends0.00%0.00%
Schedule of Stock Option Activity
The following is a summary of stock option activity for the nine months ended September 30, 2025:
Number of Options Weighted Average
Exercise Price Per Share
Weighted Average
Remaining
Contractual Term
(in years)
Aggregate Intrinsic
Value
(in thousands)
Outstanding at January 1, 20255,766,927$7.23 7.5$28,796 
Granted2,710,16315.62 9.4
Exercised(573,791)7.59 
Expired(63,175)12.83 
Cancelled/Forfeited(93,243)10.33 
Outstanding at September 30, 20257,746,881$10.06 8.0$20,184 
Exercisable at September 30, 20254,365,983$8.64 7.2$13,690 
Unvested at September 30, 20253,380,898 $11.88 9.0$6,494 
Schedule of Recognized Share-based Compensation Cost
The following is a summary of share-based compensation expense in the statement of operations:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2025202420252024
Selling, general and administrative$3,566 $1,530 $12,813 $5,502 
Research and development1,551 411 4,892 1,954 
Cost of goods sold531 200 2,015 699 
Total$5,648 $2,141 $19,720 $8,155 
Schedule of Warrant Activity
The following is a summary of common stock warrant activity for the nine months ended September 30, 2025:
 Warrants
Weighted Average Exercise Price
Outstanding at January 1, 20253,193,275$5.80 
Warrants issued— — 
Warrants exercised(1,615,775)10.00 
Warrants canceled(236,125)10.00 
Outstanding and exercisable at September 30, 20251,341,375$0.01 
Schedule of Information Related to Stock Warrants Outstanding and Exercisable
The following table presents information related to common stock warrants outstanding at September 30, 2025:
Warrants Exercisable
Range of Exercise PricesOutstanding
Number of
Warrants
Weighted Average
Remaining Warrant Term
(in years)
$0.01 (1)
1,341,375n/a
(1) Pre-funded warrants with a $0.01 exercise price do not expire until exercised.