v3.26.1
Equity Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of The Stock Option Activity

The following table summarizes the stock option activity under the 2019 Plan and 2024 Plan for the six months ended June 30, 2026:

 

 

 

Outstanding Options

 

 

Number of Shares Underlying Outstanding Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding as of January 1, 2026

 

 

1,951,417

 

 

$

19.55

 

 

 

 

 

 

 

Options granted

 

 

351,287

 

 

 

28.03

 

 

 

 

 

 

 

Options exercised

 

 

(25,239

)

 

 

5.72

 

 

 

 

 

$

593

 

Options forfeited and expired

 

 

(14,977

)

 

 

18.09

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

 

2,262,488

 

 

$

21.03

 

 

 

8.0

 

 

$

35,026

 

Options vested and exercisable as of June 30, 2026

 

 

1,056,736

 

 

$

16.04

 

 

 

7.2

 

 

$

21,026

 

Options vested and expected to vest as of June 30, 2026

 

 

2,262,488

 

 

$

21.03

 

 

 

8.0

 

 

$

35,026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Fair Values of the Options Granted

The following table summarizes the assumptions used for estimating the fair value of stock options granted under the BSM option-pricing model:

 

Six Months Ended June 30,

 

2026

 

2025

Expected term in years

 

5.50 - 6.08

 

5.50 - 6.25

Expected volatility

 

96.5% - 102.9%

 

102.6% - 103.1%

Risk-free interest rate

 

3.77% - 4.36%

 

3.92% - 4.43%

Expected dividend yield

 

0%

 

0%

Summary of Restricted Stock Activity The following table summarizes the RSU activity for the six months ended June 30, 2026:

 

 

 

Outstanding RSUs

 

 

Number of Shares Underlying Outstanding Units

 

 

Weighted-
Average
Grant Date Fair Value per Unit

 

Outstanding as of January 1, 2026

 

 

262,184

 

 

$

36.66

 

Restricted stock units granted

 

 

285,155

 

 

 

27.58

 

Restricted stock units vested

 

 

(59,629

)

 

 

45.23

 

Restricted stock units forfeited

 

 

(3,390

)

 

 

20.81

 

Outstanding as of June 30, 2026

 

 

484,320

 

 

$

30.37

 

 

 

 

 

 

 

 

Summary of The Unrecognized Compensation Expense and Weighted-average Remaining Period

The following table summarizes the unrecognized compensation expense and the weighted-average remaining period over which it is expected to be recognized, by type of award:

 

 

As of June 30, 2026

 

 

 

Unamortized Expense

 

 

Weighted Average Remaining Recognition Period (Years)

 

 Stock options

 

 

24,427

 

 

 

2.4

 

 RSUs

 

 

12,489

 

 

 

2.3