Equity Incentive Awards and Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2026

Summary of Stock Options

Stock option activity during the nine months ended September 30, 2026 is as follows:


		Shares subject to options				Weighted- average exercise price				Weighted- average remaining contractual term (years)				Aggregate Intrinsic Value (in thousands)

Outstanding as of December 31, 2025			1,728,737			$	18.62				8.82			$	859
Granted			512,825				7.04				—				—
Exercised			—				—				—				—
Forfeited or Expired			(86,698	)			9.82				—				—
Outstanding as of September 30, 2026			2,154,864				16.22				8.41			$	5
Options vested and expected to vest as of September 30, 2026			2,154,864				16.22				8.32			$	5
Options vested and exercisable as of September 30, 2026			833,031				25.41				7.66			$	-

Summary of Stock Based Compensation Expense Was Allocated

Stock-based compensation expense was allocated as follows for the three and nine months ended September 30, 2026 and 2025 (in thousands):


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2026				2025				2026				2025
Research and development		$	638			$	774			$	1,992			$	1,935
General and administrative			644				693				1,968				1,651
Total		$	1,282			$	1,467			$	3,960			$	3,586

Restricted Stock Unit [Member]

Summary of Stock Options

Restricted stock unit activity during the nine months ended September 30, 2026 is as follows:


		Number of Awards				Weighted- Average Grant Date Fair Value				Aggregate Fair Value (in thousands)

Issued and unvested as of December 31, 2025			76,786			$	10.20			$	784
Granted			13,595				6.98				95
Vested and released			(21,605	)			10.22				(221	)
Issued and unvested as of September 30, 2026			68,776			$	9.56			$	658