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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Stock-Based Compensation  
Schedule of stock-based compensation expense

Stock-based compensation expense reflected in the statement of operations was as follows:

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2025

    

2024

2025

    

2024

General and administrative

$

232,852

$

203,785

$

770,185

$

1,437,305

Research and development

 

211,795

189,295

 

670,967

917,052

$

444,647

$

393,080

$

1,441,152

$

2,354,357

Schedule of stock option activity

The following table summarizes stock option activity:

    

    

    

Weighted

    

Average

Remaining

Aggregate

Weighted

Contractual

Intrinsic

Number of

Average

Life

Value

Options

Exercise Price

(Years)

(Thousands)

Options outstanding at December 31, 2024

 

2,336,020

$

11.39

7.3

$ 1,298

Options granted

220,000

$

2.09

Options expired

(92,562)

$

10.12

Options outstanding at September 30, 2025

 

2,463,458

$

10.61

7.0

 

$ 245

Options exercisable at September 30, 2025

1,994,267

$

12.08

6.6

 

$ 238