STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expense Related to Stock Options

The Company recorded stock-based compensation expense related to stock options and RSUs in the following expense categories of its condensed statements of operations and comprehensive loss for the periods shown (in thousands):

	Three Months Ended March 31,
	2026		2025
General and administrative	$	1,366	$	1,492
Research and development	1,030		982
Total stock-based compensation	$	2,396	$	2,474

Schedule of Assumptions Used for Valuation of Fair Value of Stock Options

The Black-Scholes option-pricing model was used to estimate the fair value of stock options granted during the three months ended March 31, 2026 and 2025 with the following weighted average assumptions:

	Three Months Ended March 31,
	2026	2025
Risk-free interest rate	3.92% - 3.97%	4.16% - 4.52%
Expected term (in years)	6.0	6.0
Expected volatility	90%	91% - 92%
Expected dividend yield	0%	0%

Schedule of Stock Option Activity

The following table reflects summarized stock option activity during the three months ended March 31, 2026:

	Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2025	12,578,766	$	3.46
Granted	2,488,001	$	1.87
Exercised	(91,828)	$	1.58
Forfeited	(1,563)	$	3.77
Expired	(86,323)	$	2.34
Outstanding as of March 31, 2026	14,887,053	$	3.21	7.2	$	363
Vested and exercisable as of March 31, 2026	8,931,079	$	3.66	6.1	$	340

Schedule of Nonvested Restricted Stock Units Activity

The following table reflects summarized RSU activity during the three months ended March 31, 2026:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2025	1,907,976	$	2.93
Granted	1,658,433	$	1.87
Vested	(805,203)	$	3.45
Unvested as of March 31, 2026	2,761,206	$	2.14