As of June 30, 2026, there were no shares available for future issuance under the 2014 Plan, 2,078,770 shares were available under the 2019 Plan and 2,160,047 shares were available under the 2023 Plan.

During the three months ended June 30, 2026, the Company granted options to purchase 529,855 shares of common stock to certain of its employees. The options vest over a period of up to four years and are exercisable at a per share price equal to the fair value of the common stock on the grant date. During the three months ended June 30, 2026, the Company granted 12,000 RSUs and did not grant any performance stock units (“PSUs”) to its employees. The RSUs vest over a period of up to four years.

As of June 30, 2026, there was $83.1 million of unrecognized compensation cost related to unvested stock options granted under the 2019 and 2023 Plans. Compensation expense is expected to be recognized over a weighted average period of 2.8 years as of June 30, 2026. As of June 30, 2026, there was $39.7 million of unrecognized stock-based compensation related to RSUs and $0.05 million of unrecognized stock-based compensation related to PSUs. The compensation expense for RSUs and PSUs is expected to be recognized over a weighted average period of 2.8 years.

Stock-based compensation expense recorded as research and development and sales, general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive (loss) income is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Research and development	$	4,372	$	2,688	$	7,760	$	5,488
Sales, general and administrative		6,430		4,910		11,795		8,863
Total	$	10,802	$	7,598	$	19,555	$	14,351

In June 2019, the Company adopted the 2019 Employee Stock Purchase Plan (the “ESPP”), which became effective on June 18, 2019. The Company initially reserved 315,000 shares of common stock for sale under the ESPP. At June 30, 2026, the Company had 2,608,136 shares available for issuance under the ESPP. The average grant date fair value per share under the ESPP was $30.90 for 2026. The total ESPP stock-based compensation expense for the three and six months ended June 30, 2026 was $0.2 million and $0.4

million, respectively, and for the three and six months ended June 30, 2025 was $0.1 million and $0.3 million, respectively. The number of shares reserved for issuance under the ESPP will increase automatically on January 1 of each of the first ten calendar years following the first offering date by the number of shares equal to the lesser of 1% of the total outstanding shares of the Company’s common stock as of the immediately preceding December 31 or a lower amount determined by the Company’s board of directors. The aggregate number of shares issued over the term of the ESPP will not exceed 3,150,000 shares of the Company’s common stock.