v3.26.1
Common Stock and Preferred Stock
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Common Stock and Preferred Stock Common Stock and Preferred Stock
Common Stock
As of June 30, 2026 and December 31, 2025, the Company's certificate of incorporation, as amended and restated, authorized the Company to issue 150,000,000 shares of common stock, par value $0.0001 per share.

As of both June 30, 2026 and December 31, 2025, there were pre-funded warrants outstanding to purchase 3,367,000 shares of common stock, with an exercise price of $0.0001 per share (the "Pre-Funded Warrants"). The Pre-Funded Warrants do not expire and are exercisable at any time, subject to certain ownership limitations. The Company classified the Pre-Funded Warrants as a component of permanent stockholders' equity within additional paid-in capital, and they were recorded at the issuance date at fair value.
In November 2025, the Company entered into a sales agreement (the "Sales Agreement"), with TD Securities (USA) LLC (f/k/a Cowen and Company, LLC), acting as the Company's agent and/or principal (the "Sales Agent"), with respect to an "at the market offering" program under which the Company may, from time to time, at its sole discretion, issue and sell shares of its common stock having an aggregate offering price of up to $150.0 million through the Sales Agent. During the three months ended June 30, 2026, there have been no sales of common stock pursuant to the Sales Agreement.
Shares Reserved for Future Issuance
The Company has reserved the following shares of common stock for future issuance as of:
June 30,
2026		December 31,
2025
Exercise of outstanding stock options6,768,248 5,960,989 
Vesting of outstanding restricted stock units
2,879,685 2,284,277 
Vesting of outstanding performance stock units
215,000 438,500 
Future awards under the 2021 Stock Option and Incentive Plan1,163,233 1,383,679 
Future awards under the 2021 Employee Stock Purchase Plan1,755,292 1,429,601 
Future awards under the 2025 Inducement Plan
541,730 79,380 
Total shares of authorized common stock reserved for future issuance13,323,188 11,576,426 
Preferred Stock
As of June 30, 2026 and December 31, 2025, the Company was authorized to issue 10,000,000 shares of undesignated preferred stock, par value $0.0001 per share, in one or more series and to fix the rights, preferences, privileges and restrictions thereof. As of June 30, 2026 and December 31, 2025, there were no shares of undesignated preferred stock issued or outstanding.