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Stock-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the six months ended June 30, 2025:
| Options |  | Weighted average exercise price |  | Weighted average remaining contractual term (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2024 | 7,746,991 |  | $ | 2.81 |  |  |  |  |
Exercised | (37,987) |  | 0.11 |  |  |  |  | $ | 14 |
Granted | 1,749,000 |  | 0.50 |  |  |  |  |
Forfeited | (3,037,128) |  | 2.10 |  |  |  |  |
Outstanding as of June 30, 2025 | 6,420,876 |  | $ | 2.53 |  |  | 7.0 |  | $ | 43 |
Exercisable as of June 30, 2025 | 4,691,835 |  | $ | 2.46 |  |  | 6.3 |  | $ | 43 |
Schedule of Estimated Using The Black-Scholes Option-Pricing Model | The fair values in the six months ended June 30, 2025 and 2024 were estimated using the Black-Scholes option-pricing model based on the following assumptions:
| Six Months Ended June 30,
| 2025 |  | 2024
Risk-free interest rate | 4.32% - 4.35% |  | 3.77% - 4.59%
Expected term | 6 years |  | 6 years
Expected volatility | 108.30% - 110.68% |  | 103.00% - 107.10%
Expected dividend yield | — |  |  | — |
Schedule of Stock-Based Compensation Expense | The Company recorded stock-based compensation expense in the following expense categories in its accompanying unaudited interim consolidated statements of operations (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Research and development | $ | 103 |  |  | $ | (44) |  |  | $ | 210 |  |  | $ | 392 |
General and administrative | 328 |  |  | 669 |  |  | 729 |  |  | 1,290 |
| $ | 431 |  |  | $ | 625 |  |  | $ | 939 |  |  | $ | 1,682 |

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- 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
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- 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
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- 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
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