Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Activity

The following summarizes activity related to the Company's stock options (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted Average
Exercise Price

 

 

Weighted Average
Remaining Contract
Term (in years)

 

 

Aggregate Intrinsic Value

 

Outstanding - December 31, 2024

 

 

26,823

 

 

$

0.14

 

 

 

8.4

 

 

$

—

 

Granted

 

 

14,950

 

 

 

0.04

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Cancelled

 

 

(130

)

 

 

1.58

 

 

 

—

 

 

 

—

 

Outstanding - June 30, 2025

 

 

41,643

 

 

 

0.10

 

 

 

8.5

 

 

 

47

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable - June 30, 2025

 

 

17,744

 

 

 

0.17

 

 

 

7.6

 

 

 

11

 

Vested or expected to vest - June 30, 2025

 

 

41,643

 

 

$

0.10

 

 

 

8.5

 

 

$

47

 
Summary of Weighted-Average Assumptions Used to Estimate Fair Value

The following table presents the weighted average grant date fair value of stock options granted and the weighted-average assumptions used to estimate the fair value on the date of grant using the Black-Scholes valuation model:

 

Three months ended June 30,

 

 

Six months ended June 30,

 

2025

 

2024

 

 

2025

 

 

2024

 

Volatility

*

 

 

138.1

%

 

 

146.1

%

 

 

138.1

%

Risk-Free Interest Rate

*

 

 

4.3

%

 

 

4.4

%

 

 

4.3

%

Expected Term (in years)

*

 

 

5.75

 

 

 

5.76

 

 

 

5.75

 

Dividend Rate

*

 

 

—

%

 

 

—

%

 

 

—

%

Weighted Average Fair Value Per Share on Grant Date

*

 

$

0.05

 

 

$

0.03

 

 

$

0.05

 

* The Company did not grant stock options during the three months ended June 30, 2025.