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EQUITY BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2025
EQUITY BASED COMPENSATION |
Schedule of compensation costs related to restricted stock and stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024 | ​
Sales, general, and administrative | ​ | $ | 85 | ​ | $ | 17 | ​ | $ | 193 | ​ | $ | 193 | ​
Cost of goods sold | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | 18 | ​ | ​ | — | ​
Research and development | ​ |  | 6 | ​ |  | (21) | ​ |  | 14 | ​ |  | 40 | ​
Total equity based compensation | ​ | $ | 92 | ​ | $ | (4) | ​ | $ | 225 | ​ | $ | 233 | ​
Summary of changes in unvested restricted stock | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unvested RSUs
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | Number of | ​ | Grant-date
​ |  | Shares |  | Fair Value
​ | ​ | ​ | ​ | $ per share
Unvested at January 1, 2025 |  | — | ​ | $ | —
Granted |  | 6,946 | ​ | ​ | 46.23
Unvested at March 31, 2025 | ​ | 6,946 | ​ | $ | 46.23
Unvested at June 30, 2025 | ​ | 6,946 | ​ | $ | 46.23
Granted | ​ | 2,118 | ​ | ​ | 1.81
Forfeited | ​ | (440) | ​ | ​ | 46.23
Unvested at September 30, 2025 | ​ | 8,624 | ​ | $ | 35.32
Schedule of stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Aggregate
​ | ​ | Number of | ​ | Exercise | ​ | Contractual | ​ | Intrinsic
​ |  | Options |  | Price |  | Term |  | Value
​ | ​ | ​ | ​ | $ per share | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2025 |  | — | ​ | $ | — |  |  |  |  | $ | —
Granted |  | 20,822 | ​ | ​ | 46.23 |  |  |  |  | ​ | —
Outstanding at March 31, 2025 |  | 20,822 | ​ | $ | 46.23 |  | 10.0 | years |  | $ | —
Outstanding at June 30, 2025 | ​ | 20,822 | ​ | $ | 46.23 | ​ | 9.7 | years | ​ | $ | —
Granted | ​ | 6,357 | ​ | $ | 1.81 | ​ | ​ | ​ | ​ | ​ | —
Forfeited | ​ | (1,318) | ​ | ​ | 46.23 | ​ | ​ | ​ | ​ | ​ | —
Outstanding at September 30, 2025 | ​ | 25,861 | ​ | $ | 35.31 | ​ | 9.6 | years | ​ | $ | —
Exercisable at September 30, 2025 |  | — | ​ | $ | — |  | — | years |  | $ | —
Schedule of fair value assumptions | ​
​ | ​ | ​ | ​
​ |  | 2025
Grant date fair value | ​ | $31.61 | ​
Risk-free interest rate (1) |  | 3.99 | %
Expected dividend yield (2) |  | — | %
Expected volatility (3) |  | 115.88 | %
Expected term of stock options (4) |  | 6.17 | years
​ | ​ | ​ | ​
(1) The risk-free interest rate is based on the period matching the expected term of the stock options based on the U.S. Treasury yield curve in effect on the grant date.
(2) The expected dividend yield is assumed as zero. The Company has never paid cash dividends nor does it anticipate paying dividends in the foreseeable future.
(3) The expected volatility is based on historical volatility of the Company’s stock.
(4) The expected term represents the period of time that options granted are expected to be outstanding based on vesting date and contractual term.
​

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -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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- 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
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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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