XML 37 R26.htm IDEA: XBRL DOCUMENT v3.25.1

Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Expense

Stock based compensation has been reported within expense line items on the consolidated statement of operations for the three months ended March 31, 2025 and 2024 as shown in the following table (in $000s):

 Schedule of Stock Based Compensation Expense

		2025				2024
		Three Months Ended
		March 31,
		2025				2024
General and administrative		$	1,592			$	149
Research and development			74				54
Stock-based compensation costs		$	1,666			$	203

Schedule of Assumptions Used for Fair Value of the Stock Options Granted Using Black-Scholes Option-Pricing Model

The fair value of the stock options granted is calculated using the Black-Scholes option-pricing model as prescribed by ASC 718 using the following assumptions:

Schedule of Assumptions Used for Fair Value of the Stock Options Granted Using Black-Scholes Option-Pricing Model 

		Three months ended				Three months ended
		March 31, 2025				March 31, 2024
Expected term (years)			5 - 10				6
Risk free interest rate			4.060%  – 4.250	%			3.995	%
Volatility			100% – 107	%			93	%
Expected dividend yield over expected term			0.00	%			0.00	%
Resulting weighted average grant date fair value		$	0.29			$	1.77

Schedule of Share Option Activity

A summary of the share option activity and related information is as follows:

Schedule of Share Option Activity 

										Weighted
						Weighted				Average
		Number of				Average				Remaining				Aggregate
		Options				Exercise				Contractual				Intrinsic
		Outstanding				Price Per Share				Term (Years)				Value ($000)
Options outstanding at December 31, 2024			118,489			$	44.41				7.20			$	—
Granted			5,956,366			$	0.29				—			$	—
Exercised			—			$	—				—			$	—
Cancelled/forfeited			(12,615	)		$	9.33				—			$	—
Options outstanding at March 31, 2025			6,062,240			$	1.15				9.76			$	—
Unvested at March 31, 2025			5,020			$	8.73				—			$	—
Vested and exercisable at March 31, 2025			6,057,220			$	1.15				9.77			$	—

Schedule of Restricted Stock Units Activity

Summarized information for restricted stock units as of March 31, 2025 is as follows:

 Schedule of Restricted Stock Units Activity

						Weighted				Weighted
						Average				Average
		Restricted				Grant Date				Remaining
		Stock Units				Value per share				Term
Restricted Stock Units outstanding at December 31, 2024			39,414			$	12.01				8.30 years
Granted			0			$	0
Cancelled/forfeited			(6,748	)		$	13.75
Restricted Stock Units outstanding at March 31, 2025			32,666			$	11.65				8.09 years
Unvested at March 31, 2025			3,198			$	13.50				7.82 years
Vested at March 31, 2025			29,468			$	11.45				8.12 years

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration