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Stock-based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2025
Stock-based Compensation |
Schedule of stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ |  | Weighted | ​ | ​ | ​
​ | ​ | ​ |  | Weighted |  | average |  | Aggregate
​ | ​ | ​ |  | average |  | remaining |  | Intrinsic
​ | ​ | ​ |  | exercise |  | contractual |  | Value
​ |  | Options |  | price |  | term (years) |  | (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 September 30, 2025 |  | 6,420,876 | ​ | $ | 2.53 | ​ | 6.8 | ​ | $ | 25
Exercisable as of September 30, 2025 |  | 4,859,858 | ​ | $ | 2.49 | ​ | 6.2 | ​ | $ | 25
Schedule of estimated using the Black-Scholes option-pricing model | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended September 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% - 112.10 | %
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 September 30, |  | Nine Months Ended September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Research and development | ​ | $ | 107 | ​ | $ | 384 | ​ | $ | 317 | ​ | $ | 776
General and administrative | ​ |  | 314 | ​ |  | 731 | ​ |  | 1,043 | ​ |  | 2,021
​ | ​ | $ | 421 | ​ | $ | 1,115 | ​ | $ | 1,360 | ​ | $ | 2,797

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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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