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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the 2023 Plan option activity and related information follows (in thousands, except weighted averages):

 Summary of Stock Option Activity

		Number of Options Outstanding				Weighted Average Exercise Price				Weighted- Average Remaining Contractual Life (Years)				Aggregate Intrinsic Value
Outstanding at January 1, 2025			77			$	220.92				5.67			$	5
Options granted			217				4.23
Options exercised			—				-
Options forfeited or cancelled			(17	)			252.37
Outstanding at December 31, 2025			277			$	49.57				8.39			$	—
Exercisable at December 31, 2025			78			$	160.73				5.54			$	—

Summary of Restricted Stock Unit Activity

A summary of the 2023 Plan restricted stock unit (RSU) activity and related information follows (in thousands, except weighted average grant date fair value):

 Summary of Restricted Stock Unit Activity

		Number of Units Outstanding				Weighted Average Grant-Date Fair Value
Balance at January 1, 2025			2			$	13.80
Vested and released			(2	)			13.80
Balance at December 31, 2025			—			$	—

Schedule of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense in the following categories on the accompanying consolidated statements of operations for the periods presented (in thousands):

 Schedule of Stock-Based Compensation Expense

		2025				2024
		Year Ended December 31,
		2025				2024
Research and development		$	426			$	751
General and administrative			1,682				2,206
Total stock-based compensation expense		$	2,108			$	2,957

Schedule of Stock Options Valuation Assumptions

 Schedule of Stock Options Valuation Assumptions

		Year Ended December 31,
		2025				2024
Expected volatility			87.84	%			85.63	%
Risk-free interest rate			3.93	%			4.21	%
Expected option life (in years)			5.78				5.64
Expected dividend yield			0.0	%			0.0	%

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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.

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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.

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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.

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

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