Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Stock Option Activity |
The following summarizes option activity under the 2018 Plan: | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Options | | Number of Options | | Weighted- Average Exercise Price | | Weighted- Average Remaining Contract Term | | Aggregate Intrinsic Value | | | | | | (in years) | | (in thousands) | | Balance as of December 31, 2025 | 31,138,077 | | | $ | 6.31 | | | 7.17 | | $ | 97 | | | Options granted | 7,193,563 | | | 1.88 | | | 9.51 | | | | | | | | | | | | Options exercised | (2,438) | | | $ | 1.94 | | | | | | | Options forfeited | (1,177,247) | | | 4.80 | | | | | | | Balance as of June 30, 2026 | 37,151,955 | | | 5.50 | | | 7.41 | | $ | 3,562 | | | Exercisable as of June 30, 2026 | 22,929,684 | | | 7.69 | | | 6.39 | | $ | 566 | | | Vested and expected to vest as of June 30, 2026 | 37,151,955 | | | $ | 5.50 | | | 7.41 | | $ | 3,562 | |
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| Schedule of Restricted Stock Unit Activity |
The following summarizes restricted stock unit activity under the 2018 Plan: | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Restricted Stock Units | | Restricted Stock Units | | Weighted- Average Grant Date Fair Value per Share | | Weighted Average Remaining Vesting Life | | Aggregate Intrinsic Value | | | | | | (in years) | | (in thousands) | | Balance as of December 31, 2025 | 16,528,226 | | | $ | 2.99 | | | 2.39 | | $ | 22,644 | | | Granted | 4,566,769 | | | 1.90 | | | 1.93 | | | | Released | (2,803,123) | | | 3.73 | | | | | | | Forfeited | (2,112,821) | | | 2.60 | | | | | | | Balance as of June 30, 2026 | 16,179,051 | | | 2.60 | | | 2.60 | | $ | 33,652 | | | Expected to vest as of June 30, 2026 | 16,179,051 | | | $ | 2.60 | | | 2.60 | | $ | 33,652 | | | Vested and unreleased as of June 30, 2026 | 477,000 | | | $ | 1.29 | | | | | $ | 992 | |
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| Schedule of Stock-based Compensation Expense |
For the three and six months ended June 30, 2026 and 2025, the following table presents stock-based compensation expense related to stock options, restricted stock units and employee stock purchase plans that was recorded as research and development and general and administrative expense in its condensed statements of operations and comprehensive loss: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Research and development | | $ | 2,124 | | | $ | 2,557 | | | $ | 4,820 | | | $ | 7,597 | | | General and administrative | | 10,316 | | | 6,128 | | | 15,890 | | | 13,263 | | | Total stock-based compensation | | $ | 12,440 | | | $ | 8,685 | | | $ | 20,710 | | | $ | 20,860 | |
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