v3.26.1
Stock-based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Stock-based Compensation
Employee Stock Purchase Plan

During each of the three and six months ended June 30, 2026, 96,758 shares of our common stock were purchased under the ESPP, and during each of the three and six months ended June 30, 2025, 151,490 shares of our common stock were purchased under the ESPP. No shares were purchased during the first quarter of 2026 and 2025. As of June 30, 2026, 1,362,508 shares of common stock were available for future issuance under the ESPP. We recognized $0.1 million and $0.2 million of stock-based compensation expenses related to the ESPP for the three and six months ended June 30, 2026, respectively, and $0.1 million and $0.2 million for the three and six months ended June 30, 2025, respectively. As of June 30, 2026, the total unrecognized stock-based compensation expense, net of expected forfeitures, related to the ESPP was $0.4 million and is expected to be recognized over the remaining offering period.
Stock-Based Compensation Expense
Stock-based compensation expense is included in the unaudited condensed consolidated statements of operations as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cost of product revenue$39 $57 $109 $118 
Research and development 628 724 1,114 1,389 
Selling, general and administrative916 1,751 1,788 3,404 
Total$1,583 $2,532 $3,011 $4,911 
The following table presents total stock-based compensation expense by security type included in the unaudited condensed consolidated statements of operations (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Stock options$894 $1,478 $1,636 $2,833 
Restricted stock units (“RSUs”) and RSAs575 936 1,193 1,855 
ESPP114 118 182 223 
Total$1,583 $2,532 $3,011 $4,911 
As of June 30, 2026, unrecognized stock-based compensation expense, net of expected forfeitures, was $7.8 million related to unvested stock options and $1.8 million related to unvested RSUs. Stock-based compensation expense for these awards will be recognized through 2030.