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

Stock option activity for the six months ended June 30, 2026, was as follows:

 

 

 

Stock
Options

 

 

Weighted-Average
Exercise
Price

 

Outstanding as of December 31, 2025

 

 

5,970,707

 

 

$

4.48

 

Granted

 

 

2,676,776

 

 

$

5.73

 

Exercised

 

 

(2,848

)

 

$

2.71

 

Canceled/Forfeited

 

 

(505,553

)

 

$

4.43

 

Outstanding as of June 30, 2026

 

 

8,139,082

 

 

$

4.89

 

Summary of Restricted Stock Units A summary of the Company’s RSU activity and related information for the six months ended June 30, 2026 is as follows:

 

 

 

Service-based RSUs

 

 

Weighted-Average
Grant Date Fair Value

 

Outstanding as of December 31, 2025

 

 

288,533

 

 

$

3.08

 

Granted

 

 

955,203

 

 

 

6.08

 

Vested

 

 

(58,111

)

 

 

2.69

 

Forfeited

 

 

(84,515

)

 

 

5.12

 

Issued and unvested as of June 30, 2026

 

 

1,101,110

 

 

$

5.55

 

Summary of Stock-based Compensation Expense

Stock-based compensation expense associated with stock options, RSUs, PSUs, and the Company’s ESPP included in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

1,293

 

 

$

923

 

 

$

2,319

 

 

$

2,519

 

General and administrative

 

 

2,020

 

 

 

1,440

 

 

 

3,849

 

 

 

3,276

 

Total stock-based compensation expense

 

$

3,313

 

 

$

2,363

 

 

$

6,168

 

 

$

5,795