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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 stock option activity for the year ended December 31, 2025, is as follows (aggregate intrinsic values in thousands):

 SUMMARY OF STOCK OPTION ACTIVITY

		Options				Weighted average exercise price				Aggregate Intrinsic value				Weighted average grant date fair value				Weighted average remaining contractual Term
Balance at December 31, 2023			3,935,218			$	17.43			$	55,344			$	14.43				8.00
Granted			355,683				31.50				-				25.53				9.70
Exercised			(642	)			11.40				-				9.96				-
Forfeited			(11,988	)			31.29				-				26.25				-
Expired			(474,854	)			14.10				-				11.31				-
Balance at December 31, 2024			3,803,417				19.17				46,903				15.84				6.80
Granted			3,119,236				11.43				-				12.31				9.66
Forfeited			(60,271	)			31.50				-				30.49				-
Expired			(209,977	)			15.67				-				11.56				-
Outstanding and expected to vest at December 31, 2025			6,652,405				15.54				-				14.13				7.72
Vested and exercisable at December 31, 2025			3,598,567				19.35				-				16.78				6.08

SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL

 SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL

		Year Ended December 31,
		2025				2024
Weighted average risk-free interest rate			3.87% - 4.06	%			3.60	%
Weighted average expected volatility			94.46% - 105.96	%			107.15	%
Weighted average expected term (in years)			3.04 - 4.00				5.78
Expected dividend yield			-				-
Exercise price			$4.85 - $31.50				$25.98
Estimated fair value of stock price			$3.96 - $37.83				$31.50

SCHEDULE OF RESTRICTED STOCK UNIT

A summary of restricted stock unit activity for the year ended December 31, 2025 is as follows:

SCHEDULE OF RESTRICTED STOCK UNIT

		Number of Shares				Weighted Average Grant Date Fair Value
Nonvested at December 31, 2024			-			$	-
Granted			414,320				5.63
Vested			(32,906	)			6.76
Forfeited			-				-
Nonvested at December 31, 2025			381,414			$	5.10

SCHEDULE OF ALLOCATION OF STOCK-BASED COMPENSATION EXPENSE

The allocation of stock-based compensation expense was as follows (in thousands):

 SCHEDULE OF ALLOCATION OF STOCK-BASED COMPENSATION EXPENSE

		2025				2024
		For the year ended December 31,
		2025				2024
General, selling and administrative		$	16,922			$	11,302
Research and development			7,391				3,464
Stock-based compensation expense		$	24,313			$	14,766
Stock-based compensation recorded to equity (stock issuance costs)			375				-
Total stock-based compensation		$	24,688			$	14,766

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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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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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