| Equity Incentive Awards and Stock-based Compensation |
7.Equity Incentive Awards and Stock-based Compensation Stock options Stock option activity during the six months ended June 30, 2026 is as follows:
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Shares
subject
to options |
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Weighted-
average
exercise
price |
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Weighted-
average
remaining
contractual
term (years) |
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Aggregate
Intrinsic
Value
(in thousands) |
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Outstanding as of December 31, 2025 |
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1,728,737 |
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$ |
18.62 |
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|
8.82 |
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$ |
859 |
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Granted |
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485,345 |
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7.09 |
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— |
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— |
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Exercised |
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— |
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— |
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— |
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— |
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Forfeited or Expired |
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(75,623 |
) |
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8.83 |
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— |
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— |
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Outstanding as of June 30, 2026 |
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2,138,459 |
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16.35 |
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8.54 |
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$ |
9 |
|
Options vested and expected to vest as of June 30, 2026 |
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2,138,459 |
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16.35 |
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8.54 |
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$ |
9 |
|
Options vested and exercisable as of June 30, 2026 |
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717,385 |
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27.64 |
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7.44 |
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$ |
- |
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Restricted stock units Restricted stock unit activity during the six months ended June 30, 2026 is as follows:
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Number
of Awards |
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Weighted-
Average
Grant Date
Fair Value |
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Aggregate
Fair Value
(in thousands) |
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Issued and unvested as of December 31, 2025 |
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76,786 |
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$ |
10.20 |
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$ |
784 |
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Granted |
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13,595 |
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6.98 |
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95 |
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Vested and released |
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(9,993 |
) |
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10.48 |
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(105 |
) |
Issued and unvested as of June 30, 2026 |
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80,388 |
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$ |
9.63 |
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$ |
774 |
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Stock-based compensation expense was allocated as follows for the three and six months ended June 30, 2026 and 2025 (in thousands):
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Research and development |
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$ |
688 |
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$ |
617 |
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$ |
1,355 |
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$ |
1,161 |
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General and administrative |
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676 |
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|
544 |
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1,323 |
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|
958 |
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Total |
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$ |
1,364 |
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$ |
1,161 |
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$ |
2,678 |
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$ |
2,119 |
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