v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of option activity under the Equity Plans for the six months ended June 30, 2026 is as follows:

 

 

 

Outstanding Awards

 

 

 

 

 

 

 

 

 

Number of Shares Underlying Outstanding Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term (in years)

 

 

Aggregate Intrinsic Value (in thousands)

 

Outstanding, December 31, 2025

 

 

2,142,278

 

 

$

3.98

 

 

 

8.88

 

 

$

9,552

 

Options granted

 

 

892,420

 

 

 

6.61

 

 

 

 

 

 

 

Options exercised

 

 

(102,576

)

 

 

0.84

 

 

 

 

 

 

581

 

Options cancelled

 

 

(396,147

)

 

 

5.05

 

 

 

 

 

 

 

Outstanding, June 30, 2026

 

 

2,535,975

 

 

 

4.87

 

 

 

8.74

 

 

 

2,666

 

Shares exercisable

 

 

849,138

 

 

 

3.07

 

 

 

8.00

 

 

 

1,780

 

Vested and expected to vest, June 30, 2026

 

 

2,535,975

 

 

$

4.87

 

 

 

8.74

 

 

$

2,666

 

Summary of RSAs Activity

A summary of RSAs activity under the 2019 Plan for the six months ended June 30, 2026 is as follows:

 

 

Restricted Stock
Awards

 

 

Weighted-Average
Grant Date Fair
Value

 

Unvested as of December 31, 2025

 

 

141

 

 

$

1.74

 

Vested

 

 

(141

)

 

 

1.74

 

Unvested as of June 30, 2026

 

 

 

 

 

 

 

No RSAs were granted during the three and six months ended June 30, 2026 and 2025. The total fair value of RSAs vested during the three and six months ended June 30, 2026 and 2025 was immaterial. No RSAs were repurchased or cancelled during the three and six months ended June 30, 2026 and 2025.

Schedule of Stock-based Compensation Expense

Stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2026 and 2025 is as follows (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development expenses

 

$

278

 

 

$

213

 

 

$

446

 

 

$

307

 

General and administrative expenses

 

 

366

 

 

 

378

 

 

 

778

 

 

 

658

 

Total stock-based compensation expense

 

$

644

 

 

$

591

 

 

$

1,224

 

 

$

965