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

Stock Option Activity

 

 

 

Outstanding
Stock Options

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic
Value

 

 

 

(in thousands, except per share amounts and years)

 

Outstanding as of December 31, 2025

 

 

23,443

 

 

$

4.82

 

 

 

8.2

 

 

$

2,710

 

Granted

 

 

10,828

 

 

 

2.32

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Canceled and forfeited

 

 

(2,288

)

 

 

2.47

 

 

 

 

 

 

 

Expired

 

 

(1,154

)

 

 

8.96

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

 

30,829

 

 

$

3.96

 

 

 

8.3

 

 

$

1,021

 

Exercisable as of June 30, 2026

 

 

11,834

 

 

$

5.60

 

 

 

7.2

 

 

$

676

 

Summary of Restricted Stock Activity

The following table summarizes the Company’s restricted stock activity:

 

 

 

Shares of
Restricted
Common
Stock

 

 

Weighted-
Average
Grant Date
Fair Value
Per Share

 

 

Shares of
Restricted
Stock
Units

 

 

Weighted-
Average Grant
Date Fair
Value Per
Share

 

 

 

(in thousands, except per share amounts)

 

Outstanding and unvested as of December 31, 2025

 

 

71

 

 

$

14.67

 

 

 

662

 

 

$

18.07

 

Granted

 

 

 

 

$

 

 

 

 

 

$

 

Vested

 

 

(26

)

 

$

14.67

 

 

 

(218

)

 

$

18.07

 

Forfeited and expired

 

 

 

 

$

 

 

 

 

 

$

 

Cancelled

 

 

 

 

$

 

 

 

(32

)

 

$

18.07

 

Outstanding and unvested as of June 30, 2026

 

 

45

 

 

$

14.67

 

 

 

412

 

 

$

18.07

 

Summary of Stock-Based Compensation Expense Recognized

The following table summarizes total stock-based compensation included in the Company’s condensed consolidated statements of operations and comprehensive loss:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Research and development

 

$

2,383

 

 

$

1,672

 

 

$

4,928

 

 

$

5,420

 

General and administrative

 

 

4,801

 

 

 

5,493

 

 

 

9,661

 

 

 

11,069

 

Total stock-based compensation

 

$

7,184

 

 

$

7,165

 

 

$

14,589

 

 

$

16,489