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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of fair value of options granted
Fair value of options granted is determined using the Black-Scholes option-pricing model with the following weighted average assumptions:
20252024
Risk-free interest rate4.7 %3.8 %
Expected dividend yield— %— %
Expected volatility162 %128.0 %
Expected term (in years)10.010.0
Schedule of stock option activity
The stock option activity consists of the following, which excludes the Contingent Stock Options:
Number of
Options 		Weighted
Average
Exercise
Price Per
Share		Weighted
Average
Remaining
Contractual
Term
(years)
Aggregate
Intrinsic
Value (1)
Outstanding as of December 31, 20233,645$1,197.00 4.0$— 
Granted144,2042.38 9.6— 
Exercised—— —— 
Forfeited(224)— —— 
Expired(9)— —— 
Outstanding as of December 31, 2024147,61627.13 9.5— 
Granted28,0573.09 9.3— 
Exercised—— —— 
Forfeited(11)— —— 
Expired(84)— —— 
Outstanding as of December 31, 2025175,57820.75 8.8— 
Exercisable as of December 31, 2025115,262
(2)
30.10 8.7— 
(1)
Calculated based on the difference between the estimated fair value of our stock and the exercise price of the underlying option. The estimated stock values used in the calculation were $3.09 and $2.83 per share for the years ended December 31, 2025 and 2024, respectively.
(2)
Includes options related to 603 shares that are inducement awards and not granted under the 2018 Plan.
Schedule of stock-based compensation expense
The stock-based compensation expense was recorded as following (in thousands):
Years Ended December 31,
20252024
Research and development$11 $13 
General and administrative253 313 
Total stock-based compensation expense$264 $326