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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
A summary of the stock option activity and related information for the Plans for the nine months ended September 30, 2025, is as follows: | A summary of the stock option activity and related information for the Plans for the nine months ended September 30, 2025, is as follows:
|  | Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2024 |  |  | 3,865 |  |  | $ | 27,540,609 |  |  |  | 8.74 |  |  | $ | — |
Grants |  |  | 1,157,841 |  |  |  | 13.79 |  |  |  |  |  |  |  | 12,121,775 |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Forfeitures or expirations |  |  | (22,504 | ) |  |  | 1,895,690 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2025 |  |  | 1,139,202 |  |  | $ | 54,931 |  |  |  | 9.49 |  |  | $ | 12,125,600 |
Exercisable at September 30, 2025 |  |  | 2,686 |  |  | $ | 19,116,393 |  |  |  | 7.97 |  |  | $ | 1,278 |
The assumptions used in the valuation of stock options granted during the nine months ended September 30, 2025, and 2024 were as follows: | The assumptions used in the valuation of stock options granted during the nine months ended September 30, 2025, and 2024 were as follows:
|  | Nine Months Ended September 30, 2025 |  |  | Nine Months Ended September 30, 2024 |
Risk-free interest rate |  |  | 3.81% to 4.30 | % |  |  | 3.58% to 5.33 | %
Expected term of option |  |  | 5.50 to 6.08 years |  |  |  | 5.25 to 10.00 years |
Expected stock price volatility |  |  | 149.34% to 153.44 | % |  |  | 111.89% - 140.42 | %
Expected dividend yield |  |  | 0.0 |  |  |  | 0.0 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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