v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Series A Convertible Preferred Stock
Series B Convertible Preferred Stock
Convertible Preferred Stock
Series A Convertible Preferred Stock
Convertible Preferred Stock
Series B Convertible Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024       134,864 145,160        
Beginning balance at Dec. 31, 2024 $ 671,639     $ 61,188 $ 127,697 $ 810 $ 1,477,811 $ (10) $ (995,857)
Beginning balance (in shares) at Dec. 31, 2024           80,994,046      
Stockholders’ deficit                  
Issuance of common stock upon exercises of stock options (in shares)           185,426      
Issuance of common stock upon exercises of stock options 2,297         $ 2 2,295    
Issuance of common stock, net of issuance cost (in shares)           245,388      
Issuance of common stock, net of issuance cost 4,795         $ 3 4,792    
Issuance of common stock upon exercises of warrants (in shares)           115,146      
Issuance of common stock upon exercises of warrants 1,618         $ 1 1,617    
Issuance of common stock under employee stock purchase plan (in shares)           41,106      
Issuance of common stock under employee stock purchase plan 561           561    
Issuance of common stock upon vesting of restricted stock units (in shares)           8,315      
Share-based compensation expense 10,220           10,220    
Unrealized gain (loss) on available-for-sale securities 255             255  
Net loss (86,912)               (86,912)
Ending balance (in shares) at Mar. 31, 2025       134,864 145,160        
Ending balance at Mar. 31, 2025 604,473     $ 61,188 $ 127,697 $ 816 1,497,296 245 (1,082,769)
Ending balance (in shares) at Mar. 31, 2025           81,589,427      
Beginning balance (in shares) at Dec. 31, 2024       134,864 145,160        
Beginning balance at Dec. 31, 2024 671,639     $ 61,188 $ 127,697 $ 810 1,477,811 (10) (995,857)
Beginning balance (in shares) at Dec. 31, 2024           80,994,046      
Stockholders’ deficit                  
Unrealized gain (loss) on available-for-sale securities 79                
Change in cumulative translation adjustment 0                
Net loss (187,647)                
Ending balance (in shares) at Jun. 30, 2025       134,864 145,160        
Ending balance at Jun. 30, 2025 515,169     $ 61,188 $ 127,697 $ 817 1,508,902 69 (1,183,504)
Ending balance (in shares) at Jun. 30, 2025           81,651,186      
Beginning balance (in shares) at Mar. 31, 2025       134,864 145,160        
Beginning balance at Mar. 31, 2025 604,473     $ 61,188 $ 127,697 $ 816 1,497,296 245 (1,082,769)
Beginning balance (in shares) at Mar. 31, 2025           81,589,427      
Stockholders’ deficit                  
Issuance of common stock upon exercises of stock options (in shares)           61,527      
Issuance of common stock upon exercises of stock options 763         $ 1 762    
Issuance of common stock upon vesting of restricted stock units (in shares)           232      
Share-based compensation expense 10,844           10,844    
Unrealized gain (loss) on available-for-sale securities (176)             (176)  
Change in cumulative translation adjustment 0                
Net loss (100,735)               (100,735)
Ending balance (in shares) at Jun. 30, 2025       134,864 145,160        
Ending balance at Jun. 30, 2025 515,169     $ 61,188 $ 127,697 $ 817 1,508,902 69 (1,183,504)
Ending balance (in shares) at Jun. 30, 2025           81,651,186      
Beginning balance (in shares) at Dec. 31, 2025   134,864 79,620 134,864 79,620        
Beginning balance at Dec. 31, 2025 $ 722,167     $ 61,188 $ 70,868 $ 1,018 1,927,104 447 (1,338,458)
Beginning balance (in shares) at Dec. 31, 2025 101,826,500         101,826,500      
Stockholders’ deficit                  
Issuance of common stock upon exercises of stock options (in shares)           424,648      
Issuance of common stock upon exercises of stock options $ 6,357         $ 5 6,352    
Issuance of common stock upon vesting of restricted stock units (in shares)           206,946      
Issuance of common stock upon vesting of restricted stock units 0         $ 2 (2)    
Share-based compensation expense 13,390           13,390    
Unrealized gain (loss) on available-for-sale securities (1,008)             (1,008)  
Change in cumulative translation adjustment 3             3  
Net loss (104,901)               (104,901)
Ending balance (in shares) at Mar. 31, 2026       134,864 79,620        
Ending balance at Mar. 31, 2026 636,008     $ 61,188 $ 70,868 $ 1,025 1,946,844 (558) (1,443,359)
Ending balance (in shares) at Mar. 31, 2026           102,458,094      
Beginning balance (in shares) at Dec. 31, 2025   134,864 79,620 134,864 79,620        
Beginning balance at Dec. 31, 2025 $ 722,167     $ 61,188 $ 70,868 $ 1,018 1,927,104 447 (1,338,458)
Beginning balance (in shares) at Dec. 31, 2025 101,826,500         101,826,500      
Stockholders’ deficit                  
Unrealized gain (loss) on available-for-sale securities $ (1,606)                
Change in cumulative translation adjustment 6                
Net loss (232,020)                
Ending balance (in shares) at Jun. 30, 2026   133,191 48,463 133,191 48,463        
Ending balance at Jun. 30, 2026 $ 662,097     $ 60,432 $ 37,592 $ 1,132 2,134,572 (1,153) (1,570,478)
Ending balance (in shares) at Jun. 30, 2026 113,238,218         113,238,218      
Beginning balance (in shares) at Mar. 31, 2026       134,864 79,620        
Beginning balance at Mar. 31, 2026 $ 636,008     $ 61,188 $ 70,868 $ 1,025 1,946,844 (558) (1,443,359)
Beginning balance (in shares) at Mar. 31, 2026           102,458,094      
Stockholders’ deficit                  
Issuance of common stock upon exercises of stock options (in shares)           41,646      
Issuance of common stock upon exercises of stock options 577           577    
Issuance of common stock upon the conversion of convertible preferred stock (in shares)       (1,673) (31,157,000) 2,188,771      
Issuance of common stock upon conversion of convertible preferred stock 0     $ (756) $ (33,276) $ 22 34,010    
Issuance of common stock, net of issuance cost (in shares)           8,455,883      
Issuance of common stock, net of issuance cost 134,972         $ 85 134,887    
Issuance of common stock under employee stock purchase plan (in shares)           92,842      
Issuance of common stock under employee stock purchase plan 1,270           1,270    
Issuance of common stock upon vesting of restricted stock units (in shares)           982      
Issuance of common stock upon vesting of restricted stock units 0                
Share-based compensation expense 16,984           16,984    
Unrealized gain (loss) on available-for-sale securities (598)             (598)  
Change in cumulative translation adjustment 3             3  
Net loss (127,119)               (127,119)
Ending balance (in shares) at Jun. 30, 2026   133,191 48,463 133,191 48,463        
Ending balance at Jun. 30, 2026 $ 662,097     $ 60,432 $ 37,592 $ 1,132 $ 2,134,572 $ (1,153) $ (1,570,478)
Ending balance (in shares) at Jun. 30, 2026 113,238,218         113,238,218