v3.26.3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
At The Market Offering
Common Stock Financings
Common Stock
Common Stock
At The Market Offering
Common Stock
Common Stock Financings
Additional Paid-in Capital
Additional Paid-in Capital
At The Market Offering
Additional Paid-in Capital
Common Stock Financings
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance at Dec. 31, 2024 $ 250,504     $ 22     $ 1,855,318     $ 14 $ (1,604,850)
Beginning balance (in shares) at Dec. 31, 2024       223,923              
Fees incurred related to issuance of common stock (171)           (171)        
Vesting of restricted stock (in shares)       960              
Exercise of stock options 1,127     $ 1     1,126        
Exercise of stock options (in shares)       580              
Stock-based compensation expense 7,022           7,022        
Unrealized loss on marketable securities, net (14)                 (14)  
Net income (loss) (49,389)                   (49,389)
Ending balance at Mar. 31, 2025 209,079     $ 23     1,863,295       (1,654,239)
Ending balance (in shares) at Mar. 31, 2025       225,463              
Beginning balance at Dec. 31, 2024 250,504     $ 22     1,855,318     14 (1,604,850)
Beginning balance (in shares) at Dec. 31, 2024       223,923              
Net income (loss) [1] (185,341)                    
Ending balance at Sep. 30, 2025 195,308     $ 26     1,985,452     21 (1,790,191)
Ending balance (in shares) at Sep. 30, 2025       262,264              
Beginning balance at Mar. 31, 2025 209,079     $ 23     1,863,295       (1,654,239)
Beginning balance (in shares) at Mar. 31, 2025       225,463              
Fees incurred related to issuance of common stock   $ (174)                  
Issuance of common stock, net of issuance costs   315           $ 315      
Issuance of common stock, net of issuance costs (in shares)         170            
Exercise of pre-funded warrants (in shares)       4,445              
Vesting of restricted stock (in shares)       203              
Exercise of stock options 148           148        
Exercise of stock options (in shares)       102              
Issuance of common stock related to employee stock purchase plan 185           185        
Issuance of common stock related to employee stock purchase plan (in shares)       127              
Stock-based compensation expense 6,629           6,629        
Net income (loss) (93,800)                   (93,800)
Ending balance at Jun. 30, 2025 122,556     $ 23     1,870,572       (1,748,039)
Ending balance (in shares) at Jun. 30, 2025       230,510              
Fees incurred related to issuance of common stock   (886) $ (5,625)                
Issuance of common stock, net of issuance costs   $ 28,625 $ 80,625   $ 1 $ 2   $ 28,624 $ 80,623    
Issuance of common stock, net of issuance costs (in shares)         7,272 24,254          
Vesting of restricted stock (in shares)       153              
Exercise of stock options 158           158        
Exercise of stock options (in shares)       75              
Stock-based compensation expense 5,475           5,475        
Unrealized loss on marketable securities, net 21                 21  
Net income (loss) (42,152) [1]                   (42,152)
Ending balance at Sep. 30, 2025 195,308     $ 26     1,985,452     21 (1,790,191)
Ending balance (in shares) at Sep. 30, 2025       262,264              
Beginning balance at Dec. 31, 2025 $ 160,884     $ 27     2,009,845     28 (1,849,016)
Beginning balance (in shares) at Dec. 31, 2025 266,732     266,732              
Fees incurred related to issuance of common stock $ (125)           (125)        
Exercise of pre-funded warrants (in shares)       2,192              
Vesting of restricted stock (in shares)       864              
Exercise of stock options 59           59        
Exercise of stock options (in shares)       29              
Stock-based compensation expense 5,662           5,662        
Unrealized loss on marketable securities, net (30)                 (30)  
Net income (loss) (47,210)                   (47,210)
Ending balance at Mar. 31, 2026 119,240     $ 27     2,015,441     (2) (1,896,226)
Ending balance (in shares) at Mar. 31, 2026       269,817              
Beginning balance at Dec. 31, 2025 $ 160,884     $ 27     2,009,845     28 (1,849,016)
Beginning balance (in shares) at Dec. 31, 2025 266,732     266,732              
Exercise of stock options (in shares) 117                    
Net income (loss) $ (90,444)                    
Ending balance at Sep. 30, 2026 $ 180,364     $ 30     2,119,898     (104) (1,939,460)
Ending balance (in shares) at Sep. 30, 2026 299,521     299,521              
Beginning balance at Mar. 31, 2026 $ 119,240     $ 27     2,015,441     (2) (1,896,226)
Beginning balance (in shares) at Mar. 31, 2026       269,817              
Fees incurred related to issuance of common stock (1,252)                    
Issuance of common stock, net of issuance costs 89,752     $ 3     89,749        
Issuance of common stock, net of issuance costs (in shares)       29,115              
Issuance of common stock allocated to stock purchase option 3,688           3,688        
Vesting of restricted stock (in shares)       230              
Exercise of stock options 59           59        
Exercise of stock options (in shares)       29              
Issuance of common stock related to employee stock purchase plan 186           186        
Issuance of common stock related to employee stock purchase plan (in shares)       115              
Stock-based compensation expense 5,342           5,342        
Unrealized loss on marketable securities, net (64)                 (64)  
Net income (loss) (63,635)                   (63,635)
Ending balance at Jun. 30, 2026 154,568     $ 30     2,114,465     (66) (1,959,861)
Ending balance (in shares) at Jun. 30, 2026       299,306              
Fees incurred related to issuance of common stock (9)           (9)        
Vesting of restricted stock (in shares)       156              
Exercise of stock options 117           117        
Exercise of stock options (in shares)       59              
Stock-based compensation expense 5,325           5,325        
Unrealized loss on marketable securities, net (38)                 (38)  
Net income (loss) 20,401                   20,401
Ending balance at Sep. 30, 2026 $ 180,364     $ 30     $ 2,119,898     $ (104) $ (1,939,460)
Ending balance (in shares) at Sep. 30, 2026 299,521     299,521              
[1] Certain amounts for the three and nine months ended September 30, 2025 have been reclassified to conform to the presentation as of the three and nine months ended September 30, 2026