v3.26.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Activity Related to RSUs

The activity related to RSUs during the nine months ended September 30, 2026 is summarized as follows:

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Nonvested at December 31, 2025

 

 

—

 

 

$

—

 

Granted

 

 

54,331

 

 

 

20.21

 

Forfeited / cancelled

 

 

(542

)

 

 

25.20

 

Vested

 

 

(11,120

)

 

 

(25.20

)

Nonvested at September 30, 2026

 

 

42,669

 

 

$

18.84

 

Summary of Activity Related to RSAs

The activity related to RSAs during the nine months ended September 30, 2026 is summarized as follows:

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Nonvested at December 31, 2025

 

 

35,456

 

 

$

37.02

 

Granted

 

 

114,333

 

 

 

8.05

 

Forfeited / cancelled

 

 

—

 

 

 

—

 

Vested

 

 

(28,340

)

 

 

(36.89

)

Nonvested at September 30, 2026

 

 

121,449

 

 

$

9.78

 

Summary of Stock-Based Compensation Expense

For the three and nine months ended September 30, 2026 and 2025, the Company recorded stock-based compensation expense for the periods indicated as follows:

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

General and administrative:

 

 

 

 

 

 

 

 

 

 

 

 

RSA awards

 

$

320,507

 

 

$

583

 

 

$

877,864

 

 

$

190,513

 

RSU awards

 

 

116,721

 

 

 

—

 

 

 

336,838

 

 

 

—

 

General and administrative stock-based compensation expense

 

 

437,228

 

 

 

583

 

 

 

1,214,702

 

 

 

190,513

 

Research and development:

 

 

 

 

 

 

 

 

 

 

 

 

RSA awards

 

 

14,003

 

 

 

291

 

 

 

68,360

 

 

 

34,689

 

RSU awards

 

 

30,998

 

 

 

—

 

 

 

71,581

 

 

 

—

 

Research and development stock-based compensation expense

 

 

45,001

 

 

 

291

 

 

 

139,941

 

 

 

34,689

 

Total stock-based compensation expense

 

$

482,229

 

 

$

874

 

 

$

1,354,643

 

 

$

225,202