v3.26.1
Equity Incentive Plans (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Stock Option Plan Activity
The following table summarizes all stock option plan activity for the six months ended June 30, 2026:
Outstanding Options
Number of OptionsWeighted-Average
Exercise Price
Outstanding at December 31, 202515,190,575$2.14 
Granted278,400 $2.48 
Exercised(131,505)$1.04 
Cancelled(242,652)$11.83 
Outstanding at June 30, 202615,094,818$2.00 
Schedule of Share-Based Compensation Expense
The following table summarizes share-based compensation expense related to share-based payment awards granted pursuant to all of the Company’s equity compensation arrangements (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Research and development$276 $253 $553 $584 
General and administrative985 698 1,907 1,309 
Total share-based compensation expense$1,261 $951 $2,460 $1,893 
Schedule of Fair Value of Each Grant Using Weighted-Average Assumptions
The following are the weighted-average assumptions for stock options:
Six Months Ended June 30,
20262025
Risk-free interest rate3.7%4.1%
Dividend yield0.0%0.0%
Volatility107.0%105.7%
Expected life (years)5.66.1
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The following are the weighted-average assumptions for purchase rights under the ESPP:
Six Months Ended June 30,
20262025
Risk-free interest rate3.8%4.1%
Dividend yield0.0%0.0%
Volatility101.9%109.0%
Expected life (months)
6 - 24
6 - 24