Stock Option Plan (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2025

Dec. 31, 2024

Schedule of Activity Under the Plan is Set Forth

Activity under the Plan is set forth below:

	Options Outstanding
Stock Option Activity	Shares Available for Grant			Number of Options			Weighted- Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (in years)
Balances at January 1, 2025		7,194			13,705		$	87.00	3.00
Options granted		(7,194	)		7,194		$	273.31
Options exercised		—			—		$	-
Options expired		—			—		$	-
Options cancelled/forfeited		54			(54	)	$	137.14
Balances at September 30, 2025		54			20,845		$	151.19	6.24
Exercisable at September 30, 2025					10,915		$	226.51	5.33

	Options Outstanding
Stock Option Activity	Shares Available for Grant		Number of Options			Weighted- Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (in years)
Balances at December 31, 2023		7,148		13,751		$	87.00	3.70
Options granted		—		—			—
Options exercised		—		—			—
Options expired		46		(46	)		0.22
Options cancelled/forfeited		—		—			—
Balances at September 30, 2024		7,194		13,705		$	87.03	3.18
Exercisable at September 30, 2024				7,012		$	105.75	4.51

Activity under the Plan, as adjusted for the recapitalization and the Reverse Stock Split (see Note 17) is set forth below:

	Options Outstanding
Stock Option Activity	Shares Available for Grant		Number of Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)
Balances at January 1, 2024		7,148		13,751		$	87.00		3.70
Options granted		—		—		$	—
Options exercised		—		—		$	—
Options expired		46		(46	)	$	0.218
Options cancelled/forfeited		—		—		$	—
Balances at December 31, 2024		7,194		13,705		$	87.00		3.00
Exercisable at December 31, 2024				7,142		$	105.75		4.32
Vested and expected to vest at December 31, 2024				13,705			87.00		3.00

Schedule of Stock Compensation Expense by Function Recognized for the Years

The following table is a summary of stock compensation expense by function recognized for the three and nine months ended September 30, 2025 and 2024 (in thousands):

	Nine months ended September 30,
	2025		2024
General Administrative	$	612	$	5
Research and development		92		11
	$	704	$	16

	Three months ended September 30,
	2025		2024
General Administrative	$	579	$	3
Research and development		38		9
	$	617	$	12

The following table is a summary of stock compensation expense by function recognized for the years ended December 31, 2024 and 2023 (in thousands):

	Years ended December 31,
	2024		2023
General Administrative	$	7	$	10
Research and development		14		23
	$	21	$	33

Profusa, Inc. S-1/A