v3.26.1
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Summary of Stock Option Activity

The following table summarizes the option activity under the 2020 Plan and 2015 Plan during the six months ended June 30, 2026:

 

 

Number of shares

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual
term
(in years)

 

 

Aggregate
Intrinsic Value (in thousands)

 

Outstanding at December 31, 2025

 

 

10,737,203

 

 

$

8.22

 

 

 

6.6

 

 

$

134

 

Granted

 

 

2,594,692

 

 

 

2.09

 

 

 

 

 

 

 

Exercised

 

 

(278,025

)

 

 

2.19

 

 

 

 

 

 

 

Forfeited

 

 

(2,264,790

)

 

 

13.62

 

 

 

 

 

 

 

Outstanding at June 30, 2026

 

 

10,789,080

 

 

 

5.77

 

 

 

7.6

 

 

 

4,568

 

Exercisable at June 30, 2026

 

 

5,577,901

 

 

 

8.61

 

 

 

6.4

 

 

 

1,314

 

Vested and expected to vest at June 30, 2026

 

 

10,789,080

 

 

 

5.77

 

 

 

7.6

 

 

 

4,568

 

Summary of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity under the 2020 Plan during the six months ended June 30, 2026:

 

 

 

Number of shares

 

 

Weighted average
grant date fair value per share

 

 

Weighted
average
remaining
contractual
term
(in years)

 

Outstanding at December 31, 2025

 

 

648,959

 

 

$

4.34

 

 

 

1.2

 

Granted

 

 

585,547

 

 

 

1.93

 

 

 

 

Vested

 

 

(218,810

)

 

 

5.38

 

 

 

 

Forfeited

 

 

(64,336

)

 

 

2.41

 

 

 

 

Outstanding at June 30, 2026

 

 

951,360

 

 

$

2.75

 

 

 

1.7

 

Summary of Share-based Compensation Expense

Share-based compensation expense 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

 

$

723

 

 

$

878

 

 

$

1,455

 

 

$

1,991

 

General and administrative

 

 

1,142

 

 

 

1,175

 

 

 

2,308

 

 

 

2,896

 

Total share-based compensation

 

$

1,865

 

 

$

2,053

 

 

$

3,763

 

 

$

4,887