STOCKHOLDERS EQUITY (Tables)

12 Months Ended

Dec. 31, 2024

STOCKHOLDERS' EQUITY [Abstract]

Warrants Outstanding

The following table summarizes information about warrants outstanding as of December 31, 2024, 2023 and 2022:

	Shares			Weighted Average Exercise Price
Warrants outstanding at December 31, 2021		4,528,160		$	2.82
Expired		(106,059	)	$	8.23
Granted		9,103,047		$	1.65
Exercised		-		$	-
Warrants outstanding at December 31, 2022		13,525,148		$	1.99
Expired		(24,800	)	$	6.37
Granted		2,391,244		$	3.26
Exercised		(3,388,686	)	$	1.65
Warrants outstanding at December 31, 2023		12,502,906		$	2.32
Expired		(227,650	)	$	4.21
Granted		-		$	-
Exercised		(11,308,702	)	$	2.31
Warrants outstanding at December 31, 2024		966,554		$	1.98

Schedule of Assumptions

The grant date fair values of stock options awarded during the years ended December 31, 2024, 2023 and 2022 were determined using the Black-Scholes option pricing model with the following assumptions:

	Years Ended
	December 31, 2024			December 31, 2023			December 31, 2022
Expected term	5.5-6.3 years			5.5-6.3 years			5.5-6.3 years
Volatility		66	%		68	%		68	%
Dividend yield		0.0			0.0			0.0
Risk-free interest rate		4.16-4.39	%		4.20-4.62	%		1.72-1.73	%

Schedule of Option Activity

The following table summarizes information about stock options outstanding as of December 31, 2024, 2023 and 2022:

	Shares			Weighted Average Exercise Price
Options outstanding, vested and expected to vest at December 31, 2021		7,862,722		$	3.93
Forfeited		(31,540	)	$	2.37
Expired		(700,324	)	$	6.86
Granted		1,194,032		$	1.67
Exercised		(68,679	)	$	2.55
Options outstanding, vested and expected to vest at December 31, 2022		8,256,211		$	3.37
Forfeited		(99,345	)	$	2.73
Expired		(262,940	)	$	6.42
Granted		1,826,380		$	3.36
Exercised		(3,814,122	)	$	3.15
Options outstanding, vested and expected to vest at December 31, 2023		5,906,184		$	3.38
Forfeited		(30,094	)	$	3.36
Expired		(246,067	)	$	7.01
Granted		1,531,635		$	6.40
Exercised		(2,020,142	)	$	3.90
Options outstanding, vested and expected to vest at December 31, 2024		5,141,516		$	3.90
Options exercisable		2,657,932		$	3.03

Summary of Outstanding and Exercisable Options by Price Range

The following table summarizes additional information regarding outstanding and exercisable options under the stock option plans at December 31, 2024:

	Stock Options Outstanding								Stock Options Exercisable
Range of Exercise Prices	Options Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Aggregate Intrinsic Value ($000’s)		Options Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Aggregate Intrinsic Value ($000’s)
$1.10 - $1.67		981,093		6.8	$	1.60	$	15,252		676,542		6.6	$	1.58	$	10,532
$1.73 - $2.60		629,655		5.7	$	2.32		9,336		585,771		5.6	$	2.33		8,683
$2.67 - $4.01		1,809,746		6.6	$	3.41		24,868		1,012,271		5.4	$	3.46		13,863
$4.09 - $6.14		1,264,083		8.1	$	5.35		14,913		361,848		5.4	$	5.23		4,312
$6.54 - $9.81		307,828		9.0	$	6.60		3,248		7,500		0.6	$	8.98		61
$10.80 - $17.49		149,111		8.7	$	8.74		500		14,000		0.1	$	10.80		89
		5,141,516		7.1	$	3.90	$	68,117		2,657,932		5.7	$	3.03	$	37,540

Schedule of Unvested RSU Activity

A summary of the Company’s unvested RSU activity and related information is as follows:

	Shares			Weighted Average Grant Date Fair Value
Balance at December 31, 2021		4,485,133		$	1.34
Granted		1,174,266		$	1.74
Vested		(2,727,412	)	$	1.25
Forfeited		(65,000	)	$	1.40
Balance at December 31, 2022		2,866,987		$	1.59
Granted		3,389,760		$	3.42
Vested		(1,199,445	)	$	1.63
Forfeited		(400,005	)	$	2.71
Balance at December 31, 2023		4,657,297		$	2.81
Granted		3,278,688		$	7.44
Vested		(1,886,463	)	$	2.50
Forfeited		(303,532	)	$	3.92
Balance at December 31, 2024		5,745,990		$	5.50

Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the years ended December 31, 2024, 2023 and 2022 was as follows (in thousands):

	Year Ended December 31,
(in thousands)	2024		2023		2022
Research and development	$	98	$	40	$	19
Plasma center operating expenses		184		146		82
Selling, general and administrative		11,720		5,331		4,717
Cost of product revenue		1,614		670		397
Total stock-based compensation expense	$	13,616	$	6,187	$	5,215