v3.26.1
Equity Incentive Plans, Equity Inducement Plans, Employee Stock Purchase Plan and Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Option Activity

The following table summarizes option activity under the Company’s Equity Incentive Plans:

 

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

Stock options outstanding at December 31, 2025

 

 

917,809

 

 

$

55.33

 

Granted

 

 

602,834

 

 

 

21.22

 

Exercised

 

 

(8,445

)

 

 

9.29

 

Canceled and forfeited

 

 

(66,213

)

 

 

59.95

 

Stock options outstanding at June 30, 2026

 

 

1,445,985

 

 

 

41.17

 

Stock options exercisable at June 30, 2026

 

 

623,980

 

 

$

71.19

 

 

Summary of Status and Activity of Non-vested RSUs A summary of the status and activity of non-vested RSUs during the six months ended June 30, 2026 is as follows:

 

 

 

Number of
shares

 

 

Weighted
Average
Grant-Date
Fair Value

 

Non-vested December 31, 2025

 

 

417,772

 

 

$

22.63

 

Granted

 

 

142,375

 

 

 

20.55

 

Vested and released

 

 

(112,108

)

 

 

30.42

 

Canceled and forfeited

 

 

(37,420

)

 

 

21.17

 

Non-vested June 30, 2026

 

 

410,619

 

 

$

19.91

 

Schedule of Stock-Based Compensation Expense Recognized

Total stock-based compensation expense recognized was as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

 

(in thousands)

 

Research and development expense

 

$

962

 

 

$

1,433

 

 

$

1,763

 

 

$

3,717

 

General and administrative expense

 

 

1,048

 

 

 

1,346

 

 

 

1,809

 

 

 

3,795

 

Restructuring and related costs

 

 

 

 

 

2,484

 

 

 

 

 

 

3,289

 

Total

 

$

2,010

 

 

$

5,263

 

 

$

3,572

 

 

$

10,801