v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Weighted-Average Assumptions Used Principally in Determining Fair Value of New Options Granted The weighted-average assumptions used principally in determining the fair value of new options granted during the periods presented were as follows:

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

Expected term (in years)

 

 

6.0

 

 

 

6.1

 

Expected volatility

 

 

101.8

%

 

 

98.9

%

Risk-free interest rate

 

 

4.0

%

 

 

3.9

%

Dividend yield

 

 

 

 

 

 

Summary of Stock-Based Compensation Expense

Stock-based compensation expense was allocated as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

814

 

 

$

599

 

 

$

1,414

 

 

$

1,641

 

General and administrative

 

 

8,585

 

 

 

1,245

 

 

 

16,855

 

 

 

2,136

 

Total stock-based compensation expense

 

$

9,399

 

 

$

1,844

 

 

$

18,269

 

 

$

3,777