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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Grant Fair Value of Stock Options Using Black-Scholes Option-Pricing Model

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the nine months ended September 30, 2025 and 2024:

 

  

Nine Months Ended

September 30, 2025

  

Nine Months Ended

September 30, 2024

 
Risk-free interest rate   4.0%   4.5%
Expected term (in years)   6.0    5.5 
Expected volatility   104.9%   110.8%
Expected dividend yield   0%   0%
Schedule of Stock Option Activity

The following table summarizes option activity with service conditions under the 2021 Plan and the 2017 Plan:

 

   Options  

Weighted

Average

Exercise Price

  

Weighted

Average

Contract Term

(years)

  

Aggregate

Intrinsic

Value

 
Outstanding at January 1, 2025   3,961,525   $27.27    6.4     
Granted   306,336    2.11         
Exercised   (38,430)   2.80         
Forfeited   (502,743)   18.86         
Outstanding at September 30, 2025*   3,726,688   $26.66    6.7   $26.40 
Exercisable at September 30, 2025   2,405,501   $39.02    5.4   $ 

 

* Options outstanding at September 30, 2025, under the 2021 Plan and 2017 Plan were 2,818,710 and 952,978, respectively. Options outstanding at September 30, 2025 under the 2021 Plan include 45,000 awards with performance conditions (see below).
Schedule of Warrants Purchase Agreement

 

Tranche   Shares   Exercise Price   Vesting Conditions
 1    600,000   $3.00   50,000 warrants vest monthly from Feb 1, 2025, with the first 50,000 warrants vesting immediately upon execution.
 2    200,000   $5.00   Vest upon the closing of a specified transaction.
 3    200,000   $6.00   Vest upon the closing of the same transaction.
 4    500,000   $12.00   Vest ratably over 12 months from May 19, 2025.
      1,500,000         
Schedule of Activity Related to RSU Stock-Based Payment Awards

The following table summarizes activity related to RSU stock-based payment awards under the 2021 Plan:

 

  

Number of

Shares

  

Weighted

Average

Grant Date Fair Value

 
Outstanding at January 1, 2025   659,439   $9.29 
Granted   125,154   $2.04 
Released   (264,479)  $10.81 
Forfeited/Expired   (31,953)  $11.68 
Outstanding at September 30, 2025   488,161   $6.36 
Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss:

 

   2025   2024   2025   2024 
  

Three Months Ended

September 30,

  

Nine Months Ended

September 30,

 
   2025   2024   2025   2024 
Cost of revenues  $69   $90   $208   $285 
Research and development   188    182    574    903 
Selling, general and administrative   1,784    2,400    6,344    7,440 
Stock-based compensation expense  $2,041   $2,672   $7,126   $8,628