As of June 30, 2026, 2,147,304 shares of common stock were available for future issuance under the 2021 Inducement Plan.

As of June 30, 2026, 7,578,673 shares of common stock were available for future issuance under our 2018 Plan.

The 2018 Plan contains a provision that allows annual increases in the number of shares available for issuance on the first day of each calendar year through January 1, 2028, in an amount equal to the lesser of: (i) 5% of the aggregate number of shares of our common stock outstanding on December 31 of the immediately preceding calendar year, or (ii) such lesser amount determined by us. Under this evergreen provision, on January 1, 2026, an additional 4,778,774 shares became available for future issuance under the 2018 Plan.

The ESPP contains a provision that allows annual increases in the number of shares available for issuance on the first day of each calendar year through January 1, 2028, in an amount equal to the lesser of: (i) 1% of the aggregate number of shares of our common stock outstanding on December 31 of the immediately preceding calendar year, or (ii) such lesser amount determined by us. We elected to not increase the number of shares available for issuance under the ESPP on January 1, 2026.


	Options Outstanding	Weighted- Average Exercise Price		Weighted- Average Remaining Term (in years)	Aggregate Intrinsic Value (000’s)
Balance at December 31, 2025	13,631,074	$	29.54
Granted	2,061,977	$	43.03
Exercised	(629,013)	$	23.27
Forfeited and expired	(535,854)	$	39.31
Balance at June 30, 2026	14,528,184	$	31.37	7.0	$	126,176
Exercisable at June 30, 2026	8,677,703	$	26.64	6.0	$	107,911


	Restricted Stock Units Outstanding	Weighted-Average Grant Date Fair Value
Balance at December 31, 2025	2,321,732	$	35.23
Granted	1,352,622	$	42.92
Vested	(682,005)	$	33.33
Forfeited	(201,352)	$	37.67
Balance at June 30, 2026	2,790,997	$	39.24

During the six months ended June 30, 2026, we issued 158,522 shares of our common stock under the ESPP. The shares were purchased by employees at an average purchase price of $27.01 per share, resulting in proceeds to us of approximately $4.3 million.

Stock-based compensation expense for all equity awards is reported in the condensed consolidated statements of operations and comprehensive income (loss) as follows:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Research and development	$	14,004	$	13,099	$	33,332	$	24,918
Selling, general and administrative	10,877		13,025		21,229		21,684
Total stock-based compensation expense (exclusive of capitalized stock-based compensation expense)	24,881		26,124		54,561		46,602
Capitalized stock-based compensation expense	66		—		200		—
Total stock-based compensation expense	$	24,947	$	26,124	$	54,761	$	46,602

A summary of our total unrecognized stock-based compensation expense, as of June 30, 2026, is as follows:


	Unrecognized Stock-Based Compensation Expense		Average Remaining Vesting Period (in years)
Stock option awards	$	136,699	2.5
RSU awards	$	97,548	3.0
ESPP	$	3,770	1.0