Quarterly report [Sections 13 or 15(d)]

Note 13 - Stock-based Compensation (Tables)

v3.25.2
Note 13 - Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Notes To Financial Statements [Abstract]  
Share-based Payment Arrangement, Option, Activity

Stock option transactions for the six months ended June 30, 2025 are summarized as follows:

 

 

 

 

 

 

Six Months Ended

 

 

 

 

 

 

 

 

 

June 30, 2025

 

 

 

 

 

 

Options

 

 

Weighted average
exercise price

 

 

Weighted average remaining contractual life
(years)

 

Outstanding, beginning of period

 

 

39,489

 

 

$

1,170.30

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(1,278

)

 

 

1,462.70

 

 

 

 

Outstanding, end of the period

 

 

38,211

 

 

$

1,168.43

 

 

 

6.0

 

Exercisable, end of the period

 

 

30,565

 

 

$

1,404.63

 

 

 

5.5

 

Vested and expected to vest, end of period

 

 

36,327

 

 

$

1,218.03

 

 

 

5.8

 

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table presents the weighted average assumptions that were used in the Black‑Scholes option pricing model to determine the fair value of stock options granted during the period and the resulting weighted-average fair values:

 

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2025

 

 

June 30, 2024

 

Risk-free interest rate

 

 

%

 

 

4.07

%

Expected dividend yield

 

 

 

 

 

 

Expected volatility

 

 

%

 

 

83.1

%

Expected life of options (years)

 

 

 

 

5 years

 

Grant date fair value

 

$

 

 

$

40.80

 

Schedule of Share-based Payment Award, Options, Grants in Period

The following table presents the vesting terms of options granted in the period:

 

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2025

 

 

June 30, 2024

 

 

 

Number of options

 

 

Number of options

 

3-year vesting (50%-25%-25%)

 

 

 

 

 

666

 

4-year vesting (50%-16 2/3%-16 2/3%-16 2/3%)

 

 

 

 

 

12,939

 

Total stock options granted in the period

 

 

 

 

 

13,605

 

Share-based Compensation Arrangement, Expensed and Capitalized, Amount

The Company recorded share-based compensation expense related to stock options is as follows:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

13

 

 

$

70

 

 

$

154

 

 

$

398

 

General and administrative

 

 

51

 

 

 

137

 

 

 

237

 

 

 

618

 

 

 

$

64

 

 

$

207

 

 

$

391

 

 

$

1,016