Stock-Based Awards (Tables)
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9 Months Ended |
Jun. 30, 2026 |
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| Summary of Stock Option Activity Including Aggregate Intrinsic Value |
The following table summarizes stock option activity, including aggregate intrinsic value, for the year-to-date period ended June 30, 2026:
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Shares
Issuable
Under
Options |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Term |
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|
Aggregate
Intrinsic
Value |
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(in thousands) |
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(in years) |
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(in thousands) |
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Outstanding as of September 30, 2025 |
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|
5,759 |
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$ |
36.31 |
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|
6.0 |
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$ |
6,457 |
|
Granted |
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|
1,291 |
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|
13.72 |
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Exercised |
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(76 |
) |
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8.94 |
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Forfeited |
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(23 |
) |
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21.39 |
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Expired |
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(284 |
) |
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36.24 |
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Outstanding as of June 30, 2026 |
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6,667 |
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$ |
32.30 |
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6.3 |
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|
$ |
12,570 |
|
Options vested and expected to vest as of
June 30, 2026 |
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|
6,667 |
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$ |
32.30 |
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6.3 |
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$ |
12,570 |
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Options exercisable as of June 30, 2026 |
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4,437 |
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$ |
42.16 |
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5.1 |
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$ |
5,989 |
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| Summary of Restricted Stock Unit Activity |
The following table summarizes the restricted stock unit activity for the year-to-date period ended June 30, 2026:
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Restricted Stock
Units |
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|
Weighted
Average Grant
Date Fair
Value |
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(in thousands) |
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Unvested as of September 30, 2025 |
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|
408 |
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$ |
24.15 |
|
Granted |
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|
181 |
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|
13.70 |
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Vested |
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(152 |
) |
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|
33.36 |
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Cancelled |
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(17 |
) |
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26.51 |
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Unvested as of June 30, 2026 |
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|
420 |
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$ |
16.28 |
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| Stock-Based Compensation Expense |
During the three and nine months ended June 30, 2026 and 2025, the Company recognized the following stock-based compensation expense:
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Three Months Ended June 30, |
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Nine Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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(in thousands) |
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Research and development |
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$ |
1,566 |
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$ |
1,783 |
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$ |
4,757 |
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$ |
4,605 |
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General and administrative |
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2,117 |
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2,394 |
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6,484 |
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9,926 |
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$ |
3,683 |
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$ |
4,177 |
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$ |
11,241 |
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$ |
14,531 |
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Three Months Ended June 30, |
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Nine Months Ended June 30, |
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|
2026 |
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2025 |
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|
2026 |
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|
2025 |
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(in thousands) |
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(in thousands) |
|
Stock options |
|
$ |
2,437 |
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|
$ |
2,805 |
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|
$ |
7,493 |
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|
$ |
9,149 |
|
Restricted stock units |
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|
918 |
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|
1,262 |
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|
2,935 |
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|
4,011 |
|
rTSRUs |
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|
168 |
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|
110 |
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|
476 |
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|
557 |
|
Performance stock units |
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|
160 |
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— |
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|
337 |
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|
814 |
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$ |
3,683 |
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$ |
4,177 |
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$ |
11,241 |
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$ |
14,531 |
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| Performance Share Units and Relative Total Stockholder Return Units [Member] |
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| Summary of PSUs and rTSRUs Activity |
The following table summarizes PSU and rTSRU activity (at target) for the year-to-date period ended June 30, 2026:
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PSUs |
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rTSRUs |
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Shares |
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Weighted
Average
Grant Date Fair
Value |
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Shares |
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Weighted
Average
Grant Date Fair
Value |
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(in thousands) |
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(in thousands) |
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Unvested as of September 30, 2025 |
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|
93 |
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$ |
8.47 |
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|
93 |
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$ |
9.57 |
|
Granted |
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|
58 |
|
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|
15.39 |
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|
58 |
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|
18.33 |
|
Vested |
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|
(14 |
) |
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|
9.59 |
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|
(44 |
) |
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|
20.27 |
|
Cancelled |
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(33 |
) |
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|
9.58 |
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(3 |
) |
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|
10.38 |
|
Unvested as of June 30, 2026 |
|
|
104 |
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|
$ |
11.81 |
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|
104 |
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|
$ |
13.99 |
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