v3.25.3

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the stock option activity during the nine months ended September 30, 2025:

		Stock Option Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in Years)				Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2024			4,950,016			$	10.82				7.99			$	1,818
Granted			3,385,624				1.85
Exercised			(24,936	)			1.06
Cancelled/Forfeited			(796,199	)			10.90
Outstanding as of September 30, 2025			7,514,505			$	6.80				8.28			$	539
Options exercisable as of September 30, 2025			3,247,074			$	12.09				7.10			$	55
Vested and expected to vest as of September 30, 2025			7,514,505			$	6.80				8.28			$	539

Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity with respect to the Company’s restricted stock units during the nine months ended September 30, 2025 is as follows:

		Shares				Weighted Average Grant Date Fair Value
Nonvested shares at December 31, 2024			256,490			$	1.92
Granted			2,567,272				1.68
Vested/Issued			(387,925	)			1.60
Forfeited			(38,456	)			1.92
Nonvested shares at September 30, 2025			2,397,381			$	1.71

Schedule of Recognized Compensation Cost Related to Employee and Non-employee Stock-Based Compensation Activity

The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Selling, general and administrative		$	1,777			$	1,590			$	4,917			$	5,704
Research and development			941				967				2,568				3,281
Total		$	2,718			$	2,557			$	7,485			$	8,985

Schedule of Stock Options Valuation Assumptions

The calculation was based on the following assumptions:

		Three Months Ended September 30, (1)				Nine Months Ended September 30,
		2025				2025				2024
Weighted average grant date fair value (per share)		$	1.86			$	1.85			$	1.39
Risk-free interest rate		3.94%				3.94% - 4.19%				4.13% - 4.29%
Expected volatility		84.69%				84.03% - 89.48%				89.22% - 91.46%
Expected term (in years)		6.08				5.49 - 6.08				5.00 - 6.08
Expected dividend yield			—				—				—

(1) No awards were granted during the three months ended September 30, 2024

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration