v3.26.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of the stock option activity during the six months ended June 30, 2026 is as follows:

 

 

 

Number of Options

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average Remaining Contractual Term
(in years)

 

 

Aggregate
Intrinsic Value

 

Outstanding as of December 31, 2025

 

 

3,865,381

 

 

$

14.30

 

 

 

8.85

 

 

$

12,625

 

Granted

 

 

807,966

 

 

 

20.06

 

 

 

 

 

 

 

Exercised

 

 

(10,747

)

 

 

8.69

 

 

 

 

 

$

223

 

Cancelled

 

 

(240,887

)

 

 

16.76

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

 

4,421,713

 

 

$

15.23

 

 

 

8.58

 

 

$

91,132

 

Exercisable as of June 30, 2026

 

 

872,557

 

 

$

5.36

 

 

 

5.17

 

 

$

26,598

 

Summary of RSU Activity

A summary of the RSU activity during the six months ended June 30, 2026 is as follows:

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

Outstanding at December 31, 2025

 

 

5,277,112

 

 

$

13.08

 

Granted

 

 

243,091

 

 

 

19.75

 

Vested

 

 

(425,131

)

 

 

15.71

 

Cancelled

 

 

(406,061

)

 

 

12.61

 

Outstanding at June 30, 2026

 

 

4,689,011

 

 

$

13.22

 

Summary of Stock-Based Compensation Expense

Stock-based compensation expense is as follows (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

5,688

 

 

$

100

 

 

$

11,103

 

 

$

247

 

General and administrative

 

 

2,938

 

 

 

48

 

 

 

7,159

 

 

 

113

 

 

$

8,626

 

 

$

148

 

 

$

18,262

 

 

$

360