Quarterly report [Sections 13 or 15(d)]

Equity Incentive Plan (Tables)

v3.26.1
Equity Incentive Plan (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Weighted Average Assumptions used for Stock Options

The Company granted stock options during the first quarter of 2026 and 2025. There were no stock option grants during the second quarter of 2026 or 2025. The following table presents the weighted-average assumptions used for stock options granted during the following periods:

  

    2026     2025  
   

Six Months Ended June 30,

 
    2026     2025  
Grant date fair value   $ 1.91     $ 11.59  
Risk-free interest rate     3.8 %     4.7 %
Dividend yield     0.00 %     0.00 %
Expected life in years     6.0       5.9  
Expected volatility     135 %     110 %
Schedule of Stock Based Compensation Expense

  

    2026     2025     2026     2025  
    Three Months Ended June 30,     Six Months Ended June 30,  
    2026     2025     2026     2025  
Research and development   $ 3,991     $ 8,100     $ 18,303     $ 15,720  
Selling, general and administrative     37,789       31,134       66,755       60,702  
Total   $ 41,780     $ 39,234     $ 85,058     $ 76,422  
Schedule of Stock Option Activity

A summary of the Company’s stock option activity (inclusive of the Inducement Award) is as follows:

  

   

Number of

Options

Outstanding

   

Weighted-

Average

Exercise

Price

   

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 
Balance at December 31, 2025     20,477     $ 25.27       8.9  
Options granted     147,000       2.09       -  
Options exercised     -       -       -  
Options forfeited     (3,066 )     6.00       -  
Balance at June 30, 2026     164,411     $ 4.91       9.4  
                         
Options exercisable at June 30, 2026     17,666     $ 18.73       8.7