v3.26.1
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense Recognized
Total stock-based compensation expense recognized in our condensed consolidated statements of operations was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(in thousands)
Research and development
$83 $973 $586 $2,028 
General and administrative
336 820 762 1,771 
Total stock-based compensation
$419 $1,793 $1,348 $3,799 
Schedule of Weighted -average Valuation Assumptions The fair value of stock options granted during the three and six months ended June 30, 2025 were calculated on the date of grant using the following weighted-average assumptions:
Three Months Ended
June 30, 2025		Six Months Ended
June 30, 2025
Risk-free interest rate
4.0 %4.4 %
Expected term (in years)
5.85.9
Expected annual dividend yield
— %— %
Expected volatility
95.2 %95.3 %
Schedule of Stock Option Activity
The following table summarizes stock option activity during the six months ended June 30, 2026: 
Options Outstanding
Number of OptionsWeighted-Average Exercise Price per ShareWeighted-Average Remaining
Contractual Life
(in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 20259,954,872 $4.71 
Granted
— $— 
Exercised
— $— 
Cancelled
(1,748,441)$2.23 
Outstanding at June 30, 20268,206,431 $5.24 6.35$— 
Exercisable at June 30, 20266,948,699 $5.77 6.02$—