v3.26.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations:

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

 

(in thousands)

 

Research and development

 

$

4,772

 

 

$

3,549

 

 

$

8,646

 

 

$

7,535

 

General and administrative

 

 

12,120

 

 

 

3,021

 

 

 

19,043

 

 

 

6,290

 

Total

 

$

16,892

 

 

$

6,570

 

 

$

27,689

 

 

$

13,825

 

 
Schedule of Stock Option Activity

The following table summarizes the stock option activity for the six months ended June 30, 2026:

 

Number of
shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Options outstanding as of December 31, 2025

 

 

20,465,579

 

 

$

6.53

 

 

 

6.83

 

 

$

60,720,990

 

Granted

 

 

8,403,554

 

 

$

13.32

 

 

 

 

 

 

 

Exercised

 

 

(5,398,240

)

 

$

6.97

 

 

 

 

 

 

 

Cancelled

 

 

(1,664,859

)

 

$

9.21

 

 

 

 

 

 

 

Options outstanding as of June 30, 2026

 

 

21,806,034

 

 

$

8.84

 

 

 

7.53

 

 

$

488,996,032

 

Options exercisable as of June 30, 2026

 

 

10,457,058

 

 

$

6.69

 

 

 

5.83

 

 

$

256,972,885

 
Summary of Restricted Stock Unit Activity

The following table summarizes the RSU activity for the six months ended June 30, 2026:

 

 

Number of
Stock Units

 

 

Weighted Average
Grant Date Fair Value Per Share

 

Unvested and outstanding as of December 31, 2025

 

 

1,263,429

 

 

$

5.91

 

Granted

 

 

1,490,180

 

 

 

13.36

 

Vested

 

 

(628,059

)

 

 

6.61

 

Forfeited

 

 

(235,474

)

 

 

9.07

 

Unvested and outstanding as of June 30, 2026

 

 

1,890,076

 

 

$

11.16