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Share-based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Fair value of Options Granted Under Weighted Average Assumptions | The fair value of each option granted during the period was estimated on the date of grant using the following weighted average assumptions:
|  | 2025 |  |  | 2024 |
Expected volatility |  |  | 107 | % |  |  | 93 | %
Expected term in years |  |  | 7 |  |  |  | 6 |
Risk-free interest rate |  |  | 3.9 | % |  |  | 4.3 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
Summary of Option Activity | A summary of option activity for 2025 is presented below:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2024 |  |  | 895,002 |  |  | $ | 17.70 |  |  |  |  |  |  |
Granted |  |  | 121,653 |  |  |  | 11.73 |  |  |  |  |  |  |
Exercised |  |  | (96,885 | ) |  |  | 4.53 |  |  |  |  |  |  |
Forfeited |  |  | (23,858 | ) |  |  | 13.37 |  |  |  |  |  |  |
Expired |  |  | (19,380 | ) |  |  | 13.46 |  |  |  |  |  |  |
Outstanding at December 31, 2025 |  |  | 876,533 |  |  | $ | 6.68 |  |  |  | 8.48 |  |  | $ | 3,998,143 |
Vested or expected to vest at December 31, 2025 |  |  | 876,533 |  |  | $ | 6.68 |  |  |  | 8.48 |  |  | $ | 3,998,143 |
Exercisable at December 31, 2025 |  |  | 666,835 |  |  | $ | 5.62 |  |  |  | 8.13 |  |  | $ | 3,690,877 |
Summary of Non-vested Stock Activity | A summary of non-vested stock activity for 2025 is presented below:
|  | Nonvested Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2024 |  |  | 80,646 |  |  | $ | 11.25 |
Granted |  |  | 69,533 |  |  |  | 12.57 |
Vested |  |  | (71,480 | ) |  |  | 11.99 |
Forfeited |  |  | (833 | ) |  |  | 22.10 |
Outstanding at December 31, 2025 |  |  | 77,866 |  |  | $ | 11.63 |
Summary of Share-based Compensation Expense | The impact on the Company’s results of operations from share-based compensation for the year ended December 31, 2025 and 2024, was as follows (in thousands):
|  | 2025 |  |  | 2024 |
Research and development |  | $ | 339 |  |  | $ | 904 |
General and administrative |  |  | 2,313 |  |  |  | 1,938 |
Total share-based compensation expense |  | $ | 2,652 |  |  | $ | 2,842 |

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