Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Stock-Based Compensation [Abstract]

Schedule of Stock Option Activities

The following table summarizes the stock option activities, including performance-based stock options, under the 2024 Plan, the 2021 Equity Incentive Plan (the “2021 Plan”), the 2022 Inducement Plan and the 2019 EIP for the three months ended March 31, 2026:

	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in thousands)
Balance, December 31, 2025		2,246,206		$	13.72		4.81	$	—
Options granted		1,262,300			1.65
Options cancelled/forfeited		(837,148	)		7.08
Balance, March 31, 2026		2,671,358			10.10		7.43		—
Vested and expected to vest, March 31, 2026		2,671,358			10.10		7.43		—
Exercisable, March 31, 2026		1,018,023			18.93		4.33		—

There was no performance-based stock option activity under the 2024 Plan or the 2021 Plan during the three months ended March 31, 2026.

	Options Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value  (in thousands)
Balance, December 31, 2025		30,894	$	7.33		4.43	$	—
Balance, March 31, 2026		30,894	$	7.33		4.18	$	—
Vested and expected to vest, March 31, 2026		30,894	$	7.33		4.18	$	—
Exercisable, March 31, 2026		30,894	$	7.33		4.18	$	—

Schedule of RSU Activity

The following table provides a summary of RSU activity under the 2024 Plan during the three months ended March 31, 2026:

	Number of Share			Weighted- Average Grant Date Fair Value
Unvested restricted stock units at December 31, 2025		198,900		$	6.00
Forfeited		(28,800	)	$	6.00
Unvested restricted stock units at March 31, 2026		170,100		$	6.00

Schedule of Stock-Based Compensation Expenses

The following table presents stock-based compensation expenses related to options, PSUs and RSUs granted to employees and non-employees, employee stock purchase plan awards and restricted common stock shares issued to founders (in thousands):

	Three Months Ended March 31,
	2026		2025
General and administrative	$	202	$	1,240
Research and development		221		571
Total	$	423	$	1,811

Schedule of Fair Value of Stock Options Was Estimated Using a Black-Scholes Option-Pricing Model

The grant date fair value of stock options was estimated using a Black-Scholes option-pricing model with the following assumptions:

	Three Months Ended March 31,
	2026			2025
Expected term (in years)		6.08			6.01 – 6.08
Expected volatility		99.87% – 100.05	%		97.37% – 97.93	%
Risk-free interest rate		3.85%  – 3.88	%		3.93% – 4.35	%
Expected dividend yield		—			—