Stock-based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Stock Options Activity |
The following table summarizes stock option activity:
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Number of
Shares |
|
|
Weighted
Average
Exercise Price
Per Share |
|
|
Weighted
Average
Remaining
Contractual
Term (years) |
|
|
Aggregate
Intrinsic
Value
($000s) |
|
Outstanding at January 1, 2026 |
|
|
22,842,960 |
|
|
$ |
12.17 |
|
|
|
6.0 |
|
|
$ |
8,436 |
|
Granted |
|
|
2,185,540 |
|
|
$ |
4.29 |
|
|
|
|
|
|
|
Exercised |
|
|
(630,075 |
) |
|
$ |
1.38 |
|
|
|
|
|
|
|
Cancelled |
|
|
(2,546,459 |
) |
|
$ |
57.97 |
|
|
|
|
|
|
|
Outstanding at June 30, 2026 |
|
|
21,851,966 |
|
|
$ |
6.35 |
|
|
|
6.3 |
|
|
$ |
16,366 |
|
Vested and expected to vest at June 30, 2026 |
|
|
21,851,966 |
|
|
$ |
6.35 |
|
|
|
6.3 |
|
|
$ |
16,366 |
|
Vested and exercisable at June 30, 2026 |
|
|
16,328,302 |
|
|
$ |
7.20 |
|
|
|
5.5 |
|
|
$ |
11,900 |
|
|
| Summary of Stock-based Compensation Expense by Award Type |
Stock-based compensation expense by award type included within the unaudited condensed consolidated statements of operations and comprehensive loss was as follows:
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Three Months Ended
June 30, |
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|
Six Months Ended
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Stock options |
|
$ |
2,247 |
|
|
$ |
2,917 |
|
|
$ |
4,649 |
|
|
$ |
8,073 |
|
Restricted stock units |
|
|
832 |
|
|
|
1,394 |
|
|
|
1,837 |
|
|
|
2,771 |
|
Performance-based restricted stock units |
|
|
275 |
|
|
|
355 |
|
|
|
573 |
|
|
|
742 |
|
Employee stock purchase plan |
|
|
27 |
|
|
|
1 |
|
|
|
51 |
|
|
|
32 |
|
Total stock-based compensation expense |
|
$ |
3,381 |
|
|
$ |
4,667 |
|
|
$ |
7,110 |
|
|
$ |
11,618 |
|
|
| Schedule of Stock-based Compensation Expense |
Stock-based compensation expense is classified as follows:
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|
Three Months Ended
June 30, |
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|
Six Months Ended
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
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|
2025 |
|
Research and development expense |
|
$ |
1,761 |
|
|
$ |
2,419 |
|
|
$ |
3,685 |
|
|
$ |
5,859 |
|
General and administrative expense |
|
|
1,620 |
|
|
|
2,248 |
|
|
|
3,425 |
|
|
|
5,759 |
|
Total stock-based compensation expense |
|
$ |
3,381 |
|
|
$ |
4,667 |
|
|
$ |
7,110 |
|
|
$ |
11,618 |
|
|
| Restricted Stock Units |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Restricted Stock Units |
Below is the activity related to restricted stock units for the six months ended June 30, 2026.
|
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|
|
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|
Number of
Shares |
|
|
Weighted Average
Grant Date Fair Value |
|
Outstanding at January 1, 2026 |
|
|
2,247,064 |
|
|
$ |
3.79 |
|
Granted |
|
|
708,200 |
|
|
$ |
4.28 |
|
Released |
|
|
(1,388,728 |
) |
|
$ |
4.03 |
|
Cancelled |
|
|
(13,999 |
) |
|
$ |
4.08 |
|
Unvested at June 30, 2026 |
|
|
1,552,537 |
|
|
$ |
3.80 |
|
|
| Performance-based Restricted Stock Units |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Restricted Stock Units |
The following table summarizes the activity related to performance-based restricted stock units:
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|
|
|
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|
Number of
Shares |
|
|
Weighted Average
Grant Date Fair Value |
|
Outstanding at January 1, 2026 |
|
|
2,465,985 |
|
|
$ |
4.13 |
|
Granted |
|
|
1,886,320 |
|
|
$ |
4.24 |
|
Released |
|
|
(181,242 |
) |
|
$ |
7.14 |
|
Cancelled |
|
|
(181,243 |
) |
|
$ |
7.14 |
|
Unvested at June 30, 2026 |
|
|
3,989,820 |
|
|
$ |
3.91 |
|
|