v3.26.1
Equity Incentive Plan and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Total Stock-Based Compensation

The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed statements of operations and comprehensive loss during the three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Research and development expenses

 

$

604

 

 

$

865

 

General and administrative expenses

 

 

856

 

 

 

1,182

 

Total

 

$

1,460

 

 

$

2,047

 
Summary of Stock Option Activity

A summary of the stock option activity is as follows:

 

 

 

Total Options Outstanding

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average Remaining Contractual Life
(in years)

 

 

Aggregate Intrinsic Value
(in thousands)

 

Outstanding at December 31, 2025

 

 

5,466,222

 

 

$

6.56

 

 

 

7.21

 

 

$

170

 

Granted

 

 

1,008,050

 

 

 

1.05

 

 

 

 

 

 

 

Exercised

 

 

(8,119

)

 

 

3.00

 

 

 

 

 

 

 

Forfeited/expired

 

 

(22,759

)

 

 

10.36

 

 

 

 

 

 

 

Vested and expected to vest at March 31, 2026

 

 

6,443,394

 

 

$

5.69

 

 

 

7.11

 

 

$

7,321

 

Exercisable as of March 31, 2026

 

 

4,232,659

 

 

$

7.46

 

 

 

6.25

 

 

$

2,959

 

 
Summary of RSU Activity

A summary of the RSU activity is as follows:
 

`

 

Number of Units

 

 

Weighted-Average
Grant Date Fair Value

 

Unvested at December 31, 2025

 

 

856,160

 

 

$

1.72

 

Issued

 

 

701,665

 

 

 

1.05

 

Vested and released

 

 

(282,413

)

 

 

1.96

 

Unvested at March 31, 2026

 

 

1,275,412

 

 

$

1.29