Stockholders' Equity (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Stockholders' Equity |
|
| Schedule of Stock-Based Compensation Expense |
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Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
($ in thousands) |
|
2025 |
|
2024 |
|
|
2025 |
|
2024 |
Fortress: |
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|
|
|
|
|
|
|
|
|
|
|
|
Employee and non-employee awards |
|
$ |
2,916 |
|
$ |
2,308 |
|
|
$ |
5,523 |
|
$ |
4,558 |
Executive awards |
|
|
180 |
|
|
273 |
|
|
|
360 |
|
|
497 |
|
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Partner Companies: |
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|
|
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Avenue |
|
|
175 |
|
|
192 |
|
|
|
360 |
|
|
383 |
Checkpoint |
|
|
12,141 |
|
|
1,170 |
|
|
|
14,097 |
|
|
1,880 |
Mustang |
|
|
45 |
|
|
(619) |
|
|
|
83 |
|
|
(542) |
Journey |
|
|
1,336 |
|
|
1,674 |
|
|
|
2,659 |
|
|
3,080 |
Total stock-based compensation expense |
|
$ |
16,793 |
|
$ |
4,998 |
|
|
$ |
23,082 |
|
$ |
9,856 |
|
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Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
($ in thousands) |
|
2025 |
|
2024 |
|
|
2025 |
|
2024 |
Research and development |
|
$ |
4,751 |
|
$ |
608 |
|
|
$ |
6,093 |
|
$ |
1,727 |
Selling, general and administrative |
|
|
12,042 |
|
|
4,390 |
|
|
|
16,989 |
|
|
8,129 |
Total stock-based compensation expense |
|
$ |
16,793 |
|
$ |
4,998 |
|
|
$ |
23,082 |
|
$ |
9,856 |
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| Schedule of Stock Option Activities |
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Weighted average |
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Total |
|
remaining |
|
|
|
|
Weighted average |
|
weighted average |
|
contractual life |
|
|
Number of shares |
|
exercise price |
|
intrinsic value |
|
(years) |
Options vested and expected to vest at December 31, 2024 |
|
558,896 |
|
$ |
2.32 |
|
$ |
186,300 |
|
6.02 |
Forfeited |
|
(540,000) |
|
|
— |
|
|
— |
|
— |
Options vested and expected to vest at June 30, 2025 |
|
18,896 |
|
$ |
20.55 |
|
$ |
— |
|
0.27 |
Options vested and exercisable at June 30, 2025 |
|
18,896 |
|
$ |
20.55 |
|
$ |
— |
|
0.27 |
|
| Schedule of Restricted Stock Awards and Restricted Stock Units |
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Weighted |
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|
|
|
average grant |
|
|
Number of shares |
|
price |
Unvested balance at December 31, 2024 |
|
4,414,724 |
|
$ |
12.87 |
Restricted stock granted |
|
1,204,624 |
|
|
2.03 |
Restricted stock vested |
|
(11,331) |
|
|
34.12 |
Restricted stock units granted |
|
300,000 |
|
|
1.85 |
Restricted stock units forfeited |
|
(5,542) |
|
|
— |
Restricted stock units vested |
|
(152,585) |
|
|
29.17 |
Unvested balance at June 30, 2025 |
|
5,749,890 |
|
$ |
9.54 |
|
| Schedule of Warrant activities |
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Total weighted |
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Weighted average |
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|
average |
|
remaining |
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|
Number of |
|
Weighted average |
|
intrinsic |
|
contractual life |
|
|
shares |
|
exercise price |
|
value |
|
(years) |
Outstanding as of December 31, 2024 |
|
14,406,201 |
|
$ |
2.15 |
|
$ |
2,933,774 |
|
4.46 |
Exercised |
|
(97,200) |
|
|
1.67 |
|
|
— |
|
— |
Outstanding as of June 30, 2025 |
|
14,309,001 |
|
$ |
2.16 |
|
$ |
— |
|
3.97 |
Exercisable as of June 30, 2025 |
|
14,309,001 |
|
$ |
2.16 |
|
$ |
— |
|
3.97 |
|