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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
2023 Incentive Award Plan
The Company grants equity awards under the 2023 Incentive Award Plan (the 2023 Plan). During the three months ended March 31, 2026, the Company began granting restricted stock units under the 2023 Plan.
2025 Employment Inducement Incentive Award Plan
The Company maintains the 2025 Employment Inducement Incentive Award Plan (the 2025 Inducement Plan), under which non‑qualified stock options and restricted stock units may be granted in connection with the commencement of employment. During the three months ended March 31, 2026, the Company began granting restricted stock units under the 2025 Inducement Plan.
2020 Equity Incentive Plan
The 2020 Equity Incentive Plan (the 2020 Plan) continues to govern the terms of outstanding awards, although no new awards are granted under the plan.
As of March 31, 2026, the Company had the following balances by plan:
Options
Outstanding		Unvested
Restricted Stock Awards		Unvested
Restricted Stock Units		Shares Available
for Grant
2023 Plan6,841,701 — 568,040 2,866,922 
2025 Inducement Plan
325,344 — 134,908 539,748 
2020 Plan253,647 64,714 — — 
Total7,420,692 64,714 702,948 3,406,670 
2023 Employee Stock Purchase Plan
The Company maintains the 2023 Employee Stock Purchase Plan (the ESPP) under which eligible employees may purchase shares of common stock through payroll deductions. As of March 31, 2026, the Company had 2,067,084 shares available for issuance, and 57,839 cumulative shares had been issued under the ESPP.
Total stock-based compensation expense recognized was allocated as follows (in thousands):
Three Months Ended
March 31,
20262025
Research and development$2,476 $1,628 
General and administrative4,072 2,017 
Total
$6,548 $3,645