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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2025
Equity Incentive Plans  
Schedule of Stock Option Activity

Options Outstanding

Weighted

Average

Weighted

Remaining

Average

Contractual

Aggregate

Exercise

Term

Intrinsic

  ​ ​ ​

Shares

  ​ ​ ​

Price

  ​ ​ ​

(Years)

  ​ ​ ​

Value (in thousands)

Outstanding at December 31, 2024

 

3,755,965

$

3.74

 

7.5

$

4

Granted

 

1,596,058

$

2.04

 

 

$

Exercised

(201,602)

$

3.26

$

953

Forfeited/Cancelled/Expired

 

(346,500)

$

3.38

 

 

$

31

Outstanding at December 31, 2025

 

4,803,921

$

3.22

 

7.4

$

15,045

Vested and expected to vest at December 31, 2025

 

4,803,921

$

3.22

 

7.4

$

15,045

Exercisable at December 31, 2025

 

2,294,337

$

3.94

 

6.0

$

5,728

Schedule of restricted stock awards

Weighted Avg

Grant Date

  ​ ​ ​

Shares

  ​ ​ ​

Fair Value

Outstanding at December 31, 2024

220,000

$

2.73

Granted

$

Vested

(67,500)

$

2.65

Cancelled

$

Outstanding at December 31, 2025

152,500

$

2.73

Schedule of Assumptions Used in the Black-Scholes Model

Year Ended December 31, 

  ​ ​ ​

2025

  ​ ​ ​

2024

Risk-free interest rate

4.22%-4.28%

3.54%-4.25%

Expected volatility

99.64%-101.43%

89.40%-92.50%

Expected term (in years)

5.5-7.0

5.1-7.0

Expected dividend yield

0%

0%

Schedule of Stock-Based Compensation Expenses

The table below summarizes the total stock-based compensation expense included in the Company’s consolidated statements of operations for the periods presented (in thousands):

Year Ended December 31, 

  ​ ​ ​

2025

  ​ ​ ​

2024

Research and development

$

999

$

663

General and administrative

 

1,611

 

2,230

Total stock-based compensation

$

2,610

$

2,893