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Equity Incentive Plans (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity Incentive Plans |
Schedule of Stock Option Activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | Remaining | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Contractual | ​ | Aggregate
​ | ​ | ​ | ​ | Exercise | ​ | Term | ​ | Intrinsic
​ |  | Shares |  | Price |  | (Years) |  | Value (in thousands)
Outstanding at December 31, 2024 |  | 3,755,965 | ​ | $ | 3.74 |  | 7.5 | ​ | $ | 4
Granted |  | 1,596,058 | ​ | $ | 2.04 |  | ​ |  | $ | —
Exercised | ​ | — | ​ | $ | — | ​ | ​ | ​ | $ | —
Forfeited/Cancelled/Expired |  | (257,750) | ​ | $ | 3.32 |  | ​ |  | $ | —
Outstanding at June 30, 2025 |  | 5,094,273 | ​ | $ | 3.23 |  | 7.8 | ​ | $ | 5
Vested and expected to vest at June 30, 2025 |  | 5,094,273 | ​ | $ | 3.23 |  | 7.8 | ​ | $ | 5
Exercisable at June 30, 2025 |  | 2,471,814 | ​ | $ | 3.94 |  | 6.3 | ​ | $ | 2
Schedule of Restricted Stock Awards and Restricted Stock Unit Activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted Avg
​ | ​ | ​ | ​ | Grant Date
​ |  | Shares |  | Fair Value
Outstanding at December 31, 2024 | ​ | 220,000 | ​ | $ | 2.73
Granted | ​ | — | ​ | $ | —
Vested | ​ | (17,500) | ​ | $ | 3.38
Cancelled | ​ | — | ​ | $ | —
Outstanding at June 30, 2025 | ​ | 202,500 | ​ | $ | 2.65
Schedule of Assumptions Used in the Black-Scholes Model | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ |  | 2025 |  | 2024
Risk-free interest rate | ​ | 4.27%-4.30% | ​ | 4.24%-4.25%
Expected volatility | ​ | 99.64%-101.43% | ​ | 89.4%-92.5%
Expected term (in years) | ​ | 5.75-6.25 | ​ | 5.12-7.00
Expected dividend yield | ​ | 0% | ​ | 0%
Schedule of Stock-Based Compensation Expenses | The table below summarizes the total share-based compensation expense included in the Company’s condensed consolidated statements of operations for the periods presented (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Research and development | ​ | $ | 167 | ​ | $ | 323 | ​ | $ | 487 | ​ | $ | 375
General and administrative | ​ |  | 408 | ​ |  | 1,012 | ​ |  | 869 | ​ |  | 1,494
Total stock-based compensation | ​ | $ | 575 | ​ | $ | 1,335 | ​ | $ | 1,356 | ​ | $ | 1,869

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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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