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

The following summarizes stock option activity:

 

 

Number of
options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual
term
(years)

 

 

Aggregate
intrinsic
value
(in thousands)

 

Outstanding—December 31, 2025

 

 

14,064,599

 

 

$

7.74

 

 

 

7.2

 

 

$

115,245

 

Granted

 

 

2,939,045

 

 

 

15.73

 

 

 

 

 

 

 

Exercised

 

 

(1,008,520

)

 

 

7.62

 

 

 

 

 

 

 

Forfeited

 

 

(127,377

)

 

 

9.71

 

 

 

 

 

 

 

Outstanding—September 30, 2026

 

 

15,867,747

 

 

$

9.22

 

 

 

7.0

 

 

$

62,722

 

Vested or expected to vest—September 30, 2026

 

 

15,867,747

 

 

$

9.22

 

 

 

7.0

 

 

$

62,722

 

Exercisable—September 30, 2026

 

 

9,780,979

 

 

$

8.12

 

 

 

6.1

 

 

$

45,913

 

Schedule of Restricted Stock Unit Activity

The following summarizes RSU activity:

 

 

Number
of
shares

 

 

Weighted
average
grant date
fair value

 

Unvested restricted stock units as of December 31, 2025

 

 

775,765

 

 

$

7.05

 

Granted

 

 

606,890

 

 

$

15.63

 

Vested

 

 

(190,388

)

 

$

7.01

 

Forfeited

 

 

(20,851

)

 

$

10.63

 

Unvested restricted stock units as of September 30, 2026

 

 

1,171,416

 

 

$

11.44

 

Schedule of Stock Based Compensation Expense

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

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

3,283

 

 

$

2,460

 

 

$

9,932

 

 

$

8,500

 

General and administrative

 

$

3,040

 

 

 

1,904

 

 

 

8,310

 

 

 

6,056

 

Total stock-based compensation expense

 

$

6,323

 

 

$

4,364

 

 

$

18,242

 

 

$

14,556