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 summarizes stock option activity:

 

 

Number of
options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual
term
(years)

 

 

Aggregate
intrinsic
value
(in thousands)

 

Outstanding—December 31, 2025

 

 

14,064,599

 

 

$

7.74

 

 

 

7.2

 

 

$

115,245

 

Granted

 

 

2,883,600

 

 

 

15.70

 

 

 

 

 

 

 

Exercised

 

 

(921,552

)

 

 

7.73

 

 

 

 

 

 

 

Forfeited

 

 

(87,515

)

 

 

8.42

 

 

 

 

 

 

 

Outstanding—June 30, 2026

 

 

15,939,132

 

 

$

9.18

 

 

 

7.3

 

 

$

239,640

 

Vested or expected to vest—June 30, 2026

 

 

15,939,132

 

 

$

9.18

 

 

 

7.3

 

 

$

239,640

 

Exercisable—June 30, 2026

 

 

9,332,001

 

 

$

8.18

 

 

 

6.2

 

 

$

149,726

 

Schedule of Restricted Stock Unit Activity

The following summarizes RSU activity:

 

 

Number
of
shares

 

 

Weighted
average
grant date
fair value

 

Unvested restricted stock units as of December 31, 2025

 

 

775,765

 

 

$

7.05

 

Granted

 

 

595,150

 

 

$

15.59

 

Vested

 

 

(188,264

)

 

$

7.03

 

Forfeited

 

 

(11,913

)

 

$

9.26

 

Unvested restricted stock units as of June 30, 2026

 

 

1,170,738

 

 

$

11.37

 

Schedule of Stock Based Compensation Expense

Stock-based compensation expense is classified as follows (in thousands):

 

 

Three months ended June 30,

 

 

Six months ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

3,275

 

 

$

2,905

 

 

$

6,649

 

 

$

6,040

 

General and administrative

 

 

2,695

 

 

 

1,989

 

 

 

5,270

 

 

 

4,152

 

Total stock-based compensation expense

 

$

5,970

 

 

$

4,894

 

 

$

11,919

 

 

$

10,192