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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2025
INCOME TAXES |
Schedule of components of tax provision (benefit) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Tax provision (benefit) |  | ​ | ​ | ​ | ​ | ​
Current |  | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | — | ​ | $ | —
State | ​ | ​ | — | ​ | ​ | 66,000
Total current | ​ | ​ | — | ​ | ​ | 66,000
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | (5,245,000) | ​ | ​ | (16,106,000)
State | ​ | ​ | (1,609,000) | ​ | ​ | (3,458,000)
Total deferred | ​ | ​ | (6,854,000) | ​ | ​ | (19,564,000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in valuation allowance | ​ | ​ | 6,854,000 | ​ | ​ | 19,564,000
Total | ​ | $ | — | ​ | $ | 66,000
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets |  | ​ | ​ |  | ​ | ​
Federal net operating loss | ​ | $ | 61,791,000 | ​ | $ | 47,909,000
Federal research and development tax credit carryforwards | ​ | ​ | 22,530,000 | ​ | ​ | 21,359,000
State net operating losses and tax credit carryforwards | ​ | ​ | 14,935,000 | ​ | ​ | 10,191,000
Capitalized research and development expenses | ​ | ​ | 9,632,000 | ​ | ​ | 22,658,000
Stock-based compensation expense | ​ | ​ | 5,092,000 | ​ | ​ | 5,072,000
Other | ​ | ​ | 457,000 | ​ | ​ | 419,000
Total deferred tax assets | ​ | ​ | 114,437,000 | ​ | ​ | 107,608,000
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities | ​ | ​ | ​ | ​ | ​ | ​
Depreciable assets | ​ | ​ | (98,000) | ​ | ​ | (123,000)
Total deferred tax liabilities | ​ | ​ | (98,000) | ​ | ​ | (123,000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets | ​ | ​ | 114,339,000 | ​ | ​ | 107,485,000
Less- valuation allowance | ​ | ​ | (114,339,000) | ​ | ​ | (107,485,000)
Total deferred tax assets | ​ | $ | — | ​ | $ | —
Schedule of reconciliation of income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, |
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 |
Income tax benefit using U.S. federal statutory rate |  | $ | (4,605,000) | ​ | 21.00 | % | $ | (9,357,000) | ​ | 21.00 | %
State income taxes |  | $ | (122,000) | ​ | 0.56 | % | $ | 136,000 | ​ | (0.31) | %
Permanent nondeductible items |  | $ | — | ​ | 0.00 | % | $ | — | ​ | 0.00 | %
Federal tax credits |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Orphan Drug Credit | ​ | $ | (1,176,000) | ​ | 5.36 | % | $ | (4,582,000) | ​ | 10.28 | %
Research and development credits | ​ | $ | 6,000 | ​ | (0.03) | % | $ | (811,000) | ​ | 1.82 | %
Change in valuation allowance |  | $ | 5,401,000 | ​ | (24.63) | % | $ | 16,113,000 | ​ | (36.15) | %
Nontaxable or nondeductible items | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warrant cost/Revaluation | ​ | $ | (130,000) | ​ | 0.59 | % | $ | (1,276,000) | ​ | 2.86 | %
Share-based compensation | ​ | $ | 617,000 | ​ | (2.81) | % | $ | — | ​ | — | ​
Other |  | $ | 4,000 | ​ | (0.02) | % | $ | 40,000 | ​ | (0.09) | %
Other | ​ | $ | 5,000 | ​ | (0.02) | % | $ | (197,000) | ​ | 0.44 | %
Total |  | $ | — | ​ | (0.00) | % | $ | 66,000 | ​ | (0.15) | %

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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