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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of weighted-average assumptions of fair value stock option issued to employees
The fair value of each stock option issued to employees was estimated at the date of grant using Black-Scholes with the following weighted-average assumptions:
Year Ended,
20252024
Expected volatility114.07 %108.73 %
Expected term (years)66
Risk-free interest rate4.4 %4.0 %
Expected dividend yield— %— %
Schedule of stock option activity
A summary of stock option activity is presented below:
Number of
Stock Options
Weighted-
average
Exercise
Price Per
Option
Weighted-
average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding, January 1, 20257,285,275$5.76 7.61$942 
Granted1,470,8121.00 
Exercised(614,230)0.00010 
Forfeited/expired(2,165,700)2.74 
Outstanding, December 31, 20255,976,157$6.28 2.28$37 
Exercisable, December 31, 20254,351,787$7.94 1.81$37 
Schedule of Restricted Stock Units activity
The following table summarizes the Company's restricted stock units ('RSUs") under the Plan since December 31, 2025:
Number of Shares
Underlying RSUs
Weighted-Average
Grant Date Fair Value
Unvested, January 1, 2025— $— 
Granted886,0181.50 
Vested and settled
— — 
Vested and deferred
— — 
Forfeited(21,294)1.50 
Unvested outstanding, December 31, 2025864,7241.50 
Vested but subject to deferred settlement at December 31, 2025
— $— 
Outstanding at December 31, 2025864,724$1.50 
Schedule of share based compensation expense
Share based compensation expense is classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):
Year ended
December 31,
2025
Year ended
December 31,
2024
Research and development$133 $1,680 
General and administrative335 3,029 
Total$468 $4,709