Net Loss Per Common Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Common Share

Basic and diluted net loss per common share was calculated as follows (in thousands, except share and per share amounts):


		Three Months Ended March 31,
		2026			2025
Numerator:
Net loss		$	(53,089)		$	(30,389)
Denominator:
Weighted average shares used to compute net loss per share, basic and diluted ¹			102,800,098			85,426,223
Net loss per share, basic and diluted		$	(0.52)		$	(0.36)

¹ Reflects the weighted average effect of the pre-funded warrants on the calculation of basic and diluted net loss per share.

Schedule of Anti-dilutive Shares Excluded from Calculation of Diluted Net Loss Per Share

The potentially dilutive shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows:


		Three Months Ended March 31,
		2026				2025
Options to purchase common stock			17,049,895				14,636,148
Unvested market-based stock options outstanding			668,750				—
Unvested restricted stock units outstanding			402,807				—
Employee stock purchase plan contingently issuable			76,863				226,160
			18,198,315				14,862,308