v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2026:

 

 

 

Options

 

 

Weighted-Average Exercise Price

 

Outstanding at December 31, 2025

 

 

13,757,773

 

 

$

6.47

 

Granted

 

 

3,938,750

 

 

$

9.20

 

Exercised

 

 

(113,926

)

 

$

5.20

 

Forfeited

 

 

(167,584

)

 

$

7.08

 

Balance at June 30, 2026

 

 

17,415,013

 

 

$

7.09

 

Stock-Based Compensation Expense Reported in Condensed Statements of Operations

Stock-based compensation expense has been reported in the Company's condensed statements of operations as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

1,917

 

 

$

1,689

 

 

$

3,748

 

 

$

3,336

 

General and administrative

 

 

1,950

 

 

 

2,296

 

 

 

4,043

 

 

 

4,188

 

Total

 

$

3,867

 

 

$

3,985

 

 

$

7,791

 

 

$

7,524