v3.26.1
Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six months ended June 30, 2026:

 

 

Number of Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life (Years)

 

 

Aggregate Intrinsic
Value (USD$)

 

Options outstanding at December 31, 2025

 

 

6,106,759

 

 

$

10.94

 

 

 

7.6

 

 

$

30,906,946

 

Granted

 

 

1,412,040

 

 

 

21.46

 

 

 

 

 

 

 

Exercised

 

 

(232,580

)

 

 

8.84

 

 

 

 

 

 

 

Forfeited

 

 

(167,319

)

 

 

9.42

 

 

 

 

 

 

 

Expired

 

 

(493,973

)

 

 

33.71

 

 

 

 

 

 

 

Options outstanding at June 30, 2026

 

 

6,624,927

 

 

$

11.60

 

 

 

8.2

 

 

$

234,865,179

 

Options vested and exercisable at June 30, 2026

 

 

2,339,399

 

 

$

10.25

 

 

 

6.5

 

 

$

86,132,195

 

Schedule of Restricted Share Units

The following table summarizes the Company's RSU activity for the six months ended June 30, 2026:

 

 

 

 

 

 

 

 

 

Number of RSUs

 

 

Weighted Average Grant Date Fair Value

 

Balance at December 31, 2025

 

 

5,457,220

 

 

$

6.29

 

Granted

 

 

2,954,895

 

 

 

18.10

 

Vested

 

 

(462,361

)

 

 

9.37

 

Cancelled

 

 

(89,750

)

 

 

16.85

 

Balance at June 30, 2026

 

 

7,860,004

 

 

$

10.43

 

Summary of Stock-based Compensation Expense

Stock-based compensation expense for all equity arrangements for the three and six months ended June 30, 2026 and 2025 was as follows (in thousands):

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

2026

 

 

2025

 

Research and development

 

$

4,119

 

 

$

2,301

 

$

6,994

 

 

$

4,354

 

General and administrative

 

 

5,520

 

 

 

2,952

 

 

9,777

 

 

 

4,325

 

Total

 

$

9,639

 

 

$

5,253

 

$

16,771

 

 

$

8,679