Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense for stock options, RSUs and PSUs is reflected in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):


	Three months ended March 31,
	2026		2025
General and administrative	$	2,269	$	1,099
Research and development	1,129		786
Total	$	3,398	$	1,885

Schedule of Stock Option Activity

The following table summarizes stock option activity:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Options outstanding at December 31, 2025	24,561,750	$	1.58	7.60	$	7,505
Granted	8,050,410	1.44		—
Exercised	(422,848)	0.97		—	340
Forfeited	(332,760)	1.27		—	427

Options outstanding at March 31, 2026	31,856,552	$	1.55	7.94	$	18,120
Vested and expected to vest at March 31, 2026	31,856,552	$	1.55	7.94	$	18,120
Options exercisable at March 31, 2026	14,657,897	$	1.97	6.35	$	7,522

Schedule of RSU Activity

The following table summarizes RSU activity:


	Number of Shares	Weighted Average Fair Value
RSUs unvested at December 31, 2025	851,652	$	1.13
Granted	2,818,135	$	1.39
Vested	(743,991)	$	1.23
Forfeited	(10,350)	$	1.19
RSUs unvested at March 31, 2026	2,915,446	$	1.36

Schedule of PSU Activity

The following table summarizes PSU activity:


	Number of Shares	Weighted Average Grant-Date Fair Value
PSUs outstanding at December 31, 2025	4,186,797	$	1.61
Granted	9,369,604	0.23
Vested	—	—
Forfeited	(324,210)	1.49
PSUs outstanding at March 31, 2026	13,232,191	$	0.64