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Stock-Based Awards (Tables) | 6 Months Ended
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Jun. 30, 2026
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the six months ended June 30, 2026:
| Number of Options |  | Weighted-Average Exercise Price
Balance at December 31, 2025 | 21,326,333 |  |  | $ | 26.39 |
Granted | 2,601,349 |  |  | 16.84 |
Exercised | (992,867) |  |  | 15.81 |
Forfeited | (698,185) |  |  | 21.15 |
Expired | (893,471) |  |  | 34.89 |
Balance at June 30, 2026 | 21,343,159 |  |  | $ | 25.53 |
Vested and expected to vest at June 30, 2026 | 21,343,159 |  |  | $ | 25.53 |
Exercisable at June 30, 2026 | 14,065,727 |  |  | $ | 28.80 |
Schedule of Assumptions Used for Estimating the Fair Value of Stock Granted | The estimated fair value of stock options granted to employees were calculated using the Black-Scholes option-pricing model using the following assumptions:
| Six Months Ended June 30,
| 2026 |  | 2025
Expected term (in years) | 5.50 - 6.08 |  | 5.50 - 6.08
Volatility | 61.7% - 66.7% |  | 64.8% - 68.7%
Risk-free interest rate | 3.7% - 4.3% |  | 3.7% - 4.5%
Dividend yield | — |  | —
Schedule of Restricted Stock Activity | The following table summarizes restricted stock unit ("RSU") activity for the six months ended June 30, 2026:
| Number of RSU shares |  | Weighted-Average Fair Value at Date of Grant per Share
Unvested at December 31, 2025 | 5,124,629 |  |  | $ | 21.74 |
Granted | 3,385,121 |  |  | 16.52 |
Vested and released | (1,341,956) |  |  | 23.92 |
Forfeited | (563,254) |  |  | 19.84 |
Unvested and expected to vest at June 30, 2026 | 6,604,540 |  |  | $ | 18.78 |
Schedule of Stock-Based Compensation Expense | The Company’s results of operations include expenses relating to stock-based compensation as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Research and development | $ | 13,453 |  |  | $ | 15,188 |  |  | $ | 27,047 |  |  | $ | 30,325 |
General and administrative | 9,462 |  |  | 10,199 |  |  | 18,955 |  |  | 20,222 |
Total | $ | 22,915 |  |  | $ | 25,387 |  |  | $ | 46,002 |  |  | $ | 50,547 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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