Equity Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2025

Equity Incentive Plans

Schedule of Stock Option Activity

				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	—	$	—		$	—
Forfeited/Cancelled/Expired	(257,750)	$	3.32		$	—
Outstanding at June 30, 2025	5,094,273	$	3.23	7.8	$	5
Vested and expected to vest at June 30, 2025	5,094,273	$	3.23	7.8	$	5
Exercisable at June 30, 2025	2,471,814	$	3.94	6.3	$	2

Schedule of Restricted Stock Awards and Restricted Stock Unit Activity

		Weighted Avg
		Grant Date
	Shares	Fair Value
Outstanding at December 31, 2024	220,000	$	2.73
Granted	—	$	—
Vested	(17,500)	$	3.38
Cancelled	—	$	—
Outstanding at June 30, 2025	202,500	$	2.65

Schedule of Assumptions Used in the Black-Scholes Model

	Six Months Ended June 30,
	2025	2024
Risk-free interest rate	4.27%-4.30%	4.24%-4.25%
Expected volatility	99.64%-101.43%	89.4%-92.5%
Expected term (in years)	5.75-6.25	5.12-7.00
Expected dividend yield	0%	0%

Schedule of Stock-Based Compensation Expenses

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Research and development	$	167	$	323	$	487	$	375
General and administrative		408		1,012		869		1,494
Total stock-based compensation	$	575	$	1,335	$	1,356	$	1,869