v3.26.1
Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Compensation Cost Recognized for All Stock-based Compensation Awards

Total compensation cost recognized for all stock‑based compensation awards in the condensed consolidated statements of operations and comprehensive loss was as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Research and development

 

$

 

1,128

 

 

$

 

1,629

 

 

$

 

1,788

 

 

$

 

3,114

 

General and administrative

 

 

 

1,305

 

 

 

 

2,504

 

 

 

 

3,133

 

 

 

 

4,692

 

Total stock-based compensation expense

 

$

 

2,433

 

 

$

 

4,133

 

 

$

 

4,921

 

 

$

 

7,806

 

Summary of Status and Changes in Unvested Restricted Stock and Performance-based Restricted Stock Units

A summary of the status of and changes in unvested restricted stock unit (“RSU”) activity and performance-based restricted stock unit (“PRSU”) activity under the Company’s equity award plans for the six months ended June 30, 2026, was as follows:

 

 

 

 

 

 

Weighted Average Grant

 

 

 

Units

 

 

Date Fair Value Per Unit

 

Unvested as of December 31, 2025

 

 

2,296,920

 

 

$

 

5.39

 

Granted

 

 

797,398

 

 

 

 

3.71

 

Vested

 

 

(600,929

)

 

 

 

6.18

 

Forfeited

 

 

(578,021

)

 

 

 

5.39

 

Outstanding as of June 30, 2026

 

 

1,915,368

 

 

$

 

4.44

 

Summary of Stock Option Activity

The following is a summary of stock option activity for the six months ended June 30, 2026:

 

 

 

 

 

 

Weighted

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Intrinsic Value

 

 

 

Shares

 

 

Exercise Price

 

 

Life (in years)

 

 

(in thousands)

 

Outstanding as of December 31, 2025

 

 

9,613,881

 

 

$

 

7.26

 

 

 

6.8

 

 

$

 

1,251

 

Granted

 

 

2,650,700

 

 

 

 

3.69

 

 

 

 

 

 

 

 

Exercised

 

 

(192,931

)

 

 

 

3.13

 

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(1,981,796

)

 

 

 

7.25

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

 

10,089,854

 

 

$

 

6.41

 

 

 

7.1

 

 

$

 

596

 

Exercisable as of June 30, 2026

 

 

6,268,111

 

 

$

 

7.52

 

 

 

6.0

 

 

$

 

534