Stock-based compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Stock-based compensation |
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| Schedule of reserved shares of common stock |
| | | | | Shares | Options and RSUs issued and outstanding | | 18,507,464 | Shares available for future stock option and RSU grants | | 3,717,710 | Shares available for employee stock purchase plan | | 579,499 | Total | | 22,804,673 |
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| Schedule of common stock available under 2021 Incentive Plan |
| | | | | Shares | Balance December 31, 2025 | | 4,175,446 | Shares reserved for issuance | | 4,375,955 | Options granted | | (3,649,811) | RSUs granted | | (2,229,578) | Options and RSUs forfeited / cancelled | | 1,045,698 | Balance June 30, 2026 | | 3,717,710 |
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| Schedule of stock option activity |
| | | | | | | | | | | | | | | Weighted Average | | | | | | | | | | | Remaining | | | Aggregate | | | | | | | | Contractual | | | Intrinsic | | | | | | | | Term | | | Value | | | Shares | | Exercise Price | | (years) | | | (in thousands) | Outstanding January 1, 2026 | | 9,105,976 | | $ | 4.30 | | 5.75 | | $ | 649 | Granted | | 3,649,811 | | | 1.94 | | — | | | 1,891 | Exercised | | (350,078) | | | 1.49 | | — | | | 336 | Forfeited | | (145,137) | | | 2.32 | | — | | | 109 | Cancelled | | (804,120) | | | 8.48 | | — | | | 7 | Outstanding, June 30, 2026 | | 11,456,452 | | $ | 5.19 | | 7.09 | | $ | 5,979 | Exercisable at June 30, 2026 | | 5,982,722 | | $ | 5.77 | | 5.19 | | $ | 1,948 |
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| Schedule of weighted-average assumptions |
| | | | | | | | June 30, 2026 | | December 31, 2025 | | Expected dividend rate | | — | | — | | Expected option term (years) | | 6.07 | | 6.03 | | Expected volatility | | 82.81 | % | 79.28 | % | Risk-free interest rate | | 3.79 | % | 3.96 | % |
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| Schedule of Stock-based compensation expense recorded under ASC 718 |
| | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Research and development | $ | 822 | | $ | 1,494 | | $ | 1,660 | | $ | 3,074 | | General and administrative | | 1,128 | | | 728 | | | 1,735 | | | 1,574 | | Total stock-based compensation | $ | 1,950 | | $ | 2,222 | | $ | 3,395 | | $ | 4,648 | |
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| Schedule of stock-based compensation expense and by award type |
| | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Stock options | $ | 1,176 | | | 1,682 | | | 1,897 | | $ | 3,540 | | Restricted stock units | | 762 | | | 506 | | | 1,474 | | | 999 | | Restricted stock awards | | — | | | — | | | — | | | 40 | | Employee stock purchase plan | | 12 | | | 34 | | | 24 | | | 69 | | Total stock-based compensation | $ | 1,950 | | | 2,222 | | | 3,395 | | $ | 4,648 | |
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| Restricted stock units |
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| Stock-based compensation |
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| Schedule of restricted stock activity |
| | | | | | | | | | Weighted Average | | | Shares | | Grant Date Fair Value | Total Unvested December 31, 2025 | | 5,645,957 | | $ | 0.85 | Granted | | 2,229,578 | | | 1.88 | Forfeited | | (96,441) | | | 1.57 | Vested | | (728,082) | | | 1.49 | Total Unvested June 30, 2026 | | 7,051,012 | | $ | 1.10 |
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