v3.26.1
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
At The Market Offering
Common Stock
Common Stock
At The Market Offering
Additional Paid-in Capital
Additional Paid-in Capital
At The Market Offering
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance at Dec. 31, 2024 $ 250,504   $ 22   $ 1,855,318   $ 14 $ (1,604,850)
Beginning balance (in shares) at Dec. 31, 2024     223,923          
Fees incurred related to common stock financings (171)       (171)      
Vesting of restricted stock (in shares)     960          
Exercise of stock options 1,127   $ 1   1,126      
Exercise of stock options (in shares)     580          
Stock-based compensation expense 7,022       7,022      
Unrealized loss on marketable securities, net (14)           (14)  
Net loss (49,389)             (49,389)
Ending balance at Mar. 31, 2025 209,079   $ 23   1,863,295     (1,654,239)
Ending balance (in shares) at Mar. 31, 2025     225,463          
Beginning balance at Dec. 31, 2024 250,504   $ 22   1,855,318   14 (1,604,850)
Beginning balance (in shares) at Dec. 31, 2024     223,923          
Net loss [1] (143,189)              
Ending balance at Jun. 30, 2025 122,556   $ 23   1,870,572     (1,748,039)
Ending balance (in shares) at Jun. 30, 2025     230,510          
Beginning balance at Mar. 31, 2025 209,079   $ 23   1,863,295     (1,654,239)
Beginning balance (in shares) at Mar. 31, 2025     225,463          
Fees incurred related to common stock financings   $ (174)            
Issuance of common stock, net of issuance costs   $ 315       $ 315    
Issuance of common stock, net of issuance costs (in shares)       170        
Exercise of pre-funded warrants (in shares)     4,445          
Vesting of restricted stock (in shares)     203          
Exercise of stock options 148       148      
Exercise of stock options (in shares)     102          
Issuance of common stock related to employee stock purchase plan 185       185      
Issuance of common stock related to employee stock purchase plan (in shares)     127          
Stock-based compensation expense 6,629       6,629      
Net loss (93,800) [1]             (93,800)
Ending balance at Jun. 30, 2025 122,556   $ 23   1,870,572     (1,748,039)
Ending balance (in shares) at Jun. 30, 2025     230,510          
Beginning balance at Dec. 31, 2025 $ 160,884   $ 27   2,009,845   28 (1,849,016)
Beginning balance (in shares) at Dec. 31, 2025 266,732   266,732          
Fees incurred related to common stock financings $ (125)       (125)      
Exercise of pre-funded warrants (in shares)     2,192          
Vesting of restricted stock (in shares)     864          
Exercise of stock options 59       59      
Exercise of stock options (in shares)     29          
Stock-based compensation expense 5,662       5,662      
Unrealized loss on marketable securities, net (30)           (30)  
Net loss (47,210)             (47,210)
Ending balance at Mar. 31, 2026 119,240   $ 27   2,015,441   (2) (1,896,226)
Ending balance (in shares) at Mar. 31, 2026     269,817          
Beginning balance at Dec. 31, 2025 $ 160,884   $ 27   2,009,845   28 (1,849,016)
Beginning balance (in shares) at Dec. 31, 2025 266,732   266,732          
Exercise of stock options (in shares) 58              
Net loss $ (110,845)              
Ending balance at Jun. 30, 2026 $ 154,568   $ 30   2,114,465   (66) (1,959,861)
Ending balance (in shares) at Jun. 30, 2026 299,306   299,306          
Beginning balance at Mar. 31, 2026 $ 119,240   $ 27   2,015,441   (2) (1,896,226)
Beginning balance (in shares) at Mar. 31, 2026     269,817          
Fees incurred related to common stock financings (1,252)              
Issuance of common stock, net of issuance costs 89,752   $ 3   89,749      
Issuance of common stock, net of issuance costs (in shares)     29,115          
Issuance of common stock allocated to stock purchase option 3,688       3,688      
Vesting of restricted stock (in shares)     230          
Exercise of stock options 59       59      
Exercise of stock options (in shares)     29          
Issuance of common stock related to employee stock purchase plan 186       186      
Issuance of common stock related to employee stock purchase plan (in shares)     115          
Stock-based compensation expense 5,342       5,342      
Unrealized loss on marketable securities, net (64)           (64)  
Net loss (63,635)             (63,635)
Ending balance at Jun. 30, 2026 $ 154,568   $ 30   $ 2,114,465   $ (66) $ (1,959,861)
Ending balance (in shares) at Jun. 30, 2026 299,306   299,306          
[1] Certain amounts for the three and six months ended June 30, 2025 have been reclassified to conform to the presentation as of the three and six months ended June 30, 2026