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Share-based Compensation Plans (Tables)

12 Months Ended

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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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

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