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

Stock option activity for the three months ended March 31, 2026, was as follows:

 

 

 

Stock
Options

 

 

Weighted-Average
Exercise
Price

 

Outstanding as of December 31, 2025

 

 

5,970,707

 

 

$

4.88

 

Granted

 

 

2,405,501

 

 

 

6.18

 

Exercised

 

 

(2,848

)

 

 

2.71

 

Canceled/Forfeited

 

 

(219,475

)

 

 

9.51

 

Outstanding as of March 31, 2026

 

 

8,153,885

 

 

$

5.14

 

Summary of Restricted Stock Units A summary of the Company’s RSU activity and related information for the year ended March 31, 2026 is as follows:

 

 

 

Service-based RSUs

 

 

Weighted-Average
Grant Date Fair Value

 

Outstanding as of December 31, 2025

 

 

288,533

 

 

$

3.08

 

Granted

 

 

931,878

 

 

 

6.19

 

Vested

 

 

(52,666

)

 

 

2.81

 

Forfeited

 

 

(17,275

)

 

 

2.81

 

Outstanding as of March 31, 2026

 

 

1,150,470

 

 

$

5.62

 

Summary of Stock-based Compensation Expense

Stock-based compensation expense associated with stock options, RSUs, PSUs, and the Company’s ESPP included in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2026

 

 

2025

 

Research and development

 

$

1,026

 

 

$

1,596

 

General and administrative

 

 

1,829

 

 

 

1,836

 

Total stock-based compensation expense

 

$

2,855

 

 

$

3,432