Quarterly report [Sections 13 or 15(d)]

STOCK-BASED COMPENSATION (Tables)

v3.25.3
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS

The Company has recorded stock-based compensation expense related to the issuance of restricted stock awards in the following line items in the accompanying condensed consolidated statements of operations:

 

    2025     2024     2025     2024  
    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2025     2024     2025     2024  
                         
Research and development   $     $ 30,605     $ 12,916     $ 87,832  
Selling, General and administrative     67,132       155,082       592,439       667,762  
Total stock-based compensation expense   $ 67,132     $ 185,687     $ 605,355     $ 755,594  
SUMMARY OF OPTION ACTIVITY

The following table summarizes stock option activity under the 2014 Plan and 2024 Plan:

 

    Number of
options
    Weighted-average
exercise price
    Weighted-average
remaining contractual
term (in years)
    Aggregate
intrinsic value
 
Outstanding at December 31, 2024     9,649     $ 207.84       4.45        
Granted                        
Exercised                        
Forfeited     (594 )     147.28              
Outstanding at September 30, 2025     9,055     $ 211.82       3.90        
                                 
Vested and exercisable at September 30, 2025     9,055     $ 211.82       3.90        
SUMMARY OF RESTRICTED STOCK AWARD

The following table summarizes restricted stock award activity under the 2014 Plan and 2024 Plan:

 

    Number of                 As of September 30, 2025  
    restricted
stock awards
(RSA)
    Weighted-
average
grant price
    FMV on
grant date
    Vested
number
of RSA
    Unvested
number
of RSA
 
Balance at December 31, 2024     44,107     $ 57.08     $ 2,517,843       39,415       4,692  
Granted     8,598       24.89       214,003       5,628       2,113  
Forfeited     (856 )     24.30       (20,800 )            
Balance at September 30, 2025     51,849     $ 52.28     $ 2,711,046       45,043       6,805