v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of option activity under the Equity Plans for the three months ended March 31, 2026 is as follows:

 

 

 

Outstanding Awards

 

 

 

 

 

 

 

 

 

Number of Shares Underlying Outstanding Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term (in years)

 

 

Aggregate Intrinsic Value (in thousands)

 

Outstanding, December 31, 2025

 

 

2,142,278

 

 

$

3.98

 

 

 

8.88

 

 

$

9,552

 

Options granted

 

 

810,120

 

 

$

6.81

 

 

 

—

 

 

 

 

Options exercised

 

 

(89,873

)

 

$

0.84

 

 

 

—

 

 

 

529

 

Options cancelled

 

 

(17,135

)

 

$

3.71

 

 

 

—

 

 

 

 

Outstanding, March 31, 2026

 

 

2,845,390

 

 

$

4.89

 

 

 

9.03

 

 

 

4,631

 

Shares exercisable March 31, 2026

 

 

740,341

 

 

$

2.81

 

 

 

8.16

 

 

 

2,541

 

Vested and expected to vest, March 31, 2026

 

 

2,845,390

 

 

$

4.89

 

 

 

9.03

 

 

$

4,631

 
Summary of RSAs Activity

A summary of RSAs activity under the 2019 Plan for the three months ended March 31, 2026 is as follows:

 

 

Restricted Stock
Awards

 

 

Weighted-Average
Grant Date Fair
Value

 

Unvested as of December 31, 2025

 

 

141

 

 

$

1.74

 

Vested

 

 

(141

)

 

 

1.74

 

Unvested as of March 31, 2026

 

 

—

 

 

 

—

 

 

No RSAs were granted during the three months ended March 31, 2026 and 2025. The total fair value of RSAs vested during the three months ended March 31, 2026 and 2025 was immaterial. No RSAs were repurchased or cancelled during the three months ended March 31, 2026 and 2025.
Schedule of Stock-based Compensation Expense

Stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2026 and 2025 is as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Research and development expenses

 

$

168

 

 

$

94

 

General and administrative expenses

 

 

412

 

 

 

280

 

Total stock-based compensation expense

 

$

580

 

 

$

374