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Stock Option and Grant Plan (Tables) | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | A summary of option activity for the three months ended March 31, 2026 is as follows:
|  | Number of Options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at December 31, 2025 |  |  | 9,407,851 |  |  | $ | 11.93 |  |  |  | 7.2 |  |  | $ | 42,967 |
Granted |  |  | 2,574,095 |  |  | $ | 13.99 |  |  |  |  |  |  |
Exercised |  |  | (465,661 | ) |  | $ | 6.94 |  |  |  |  |  | $ | 3,161 |
Cancelled or forfeited |  |  | (74,343 | ) |  | $ | 11.44 |  |  |  |  |  |  |
Outstanding at March 31, 2026 |  |  | 11,441,942 |  |  | $ | 12.60 |  |  |  | 7.9 |  |  | $ | 49,741 |
Options exercisable as of March 31, 2026 |  |  | 5,560,686 |  |  | $ | 14.84 |  |  |  | 6.6 |  |  | $ | 22,717 |
Options unvested as of March 31, 2026 |  |  | 5,881,256 |  |  | $ | 10.48 |  |  |  | 9.1 |  |  | $ | 27,023 |
Weighted average grant-date fair value of options granted during the period |  | $ | 11.69 |  |  |  |  |  |  |  |  |  |
Summary of Restricted Stock Unit Activity | A summary of restricted stock unit, or RSU, activity for the three months ended March 31, 2026 is as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested as of December 31, 2025 |  |  | 2,725,084 |  |  | $ | 8.12 |
Granted |  |  | 1,952,447 |  |  | $ | 14.01 |
Vested |  |  | (676,314 | ) |  | $ | 10.95 |
Forfeited |  |  | (68,067 | ) |  | $ | 7.76 |
Nonvested as of March 31, 2026 |  |  | 3,933,150 |  |  | $ | 10.56 |
Summary of Performance-Based Restricted Stock Unit Activity | A summary of PSU activity for the three months ended March 31, 2026, is as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested as of December 31, 2025 |  |  | 2,089,494 |  |  | $ | 6.01 |
Granted |  |  | — |  |  | $ | — |
Vested |  |  | — |  |  | $ | — |
Forfeited |  |  | (39,925 | ) |  | $ | 6.48 |
Nonvested as of March 31, 2026 |  |  | 2,049,569 |  |  | $ | 6.00 |
Summary of Stock-Based Compensation Expense | Stock-based compensation expense for the three months ended March 31, 2026 and 2025, is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Research and development |  | $ | 1,755 |  |  | $ | 1,822 |
Selling, general and administrative |  |  | 4,365 |  |  |  | 5,011 |
Total stock-based compensation expense |  | $ | 6,120 |  |  | $ | 6,833 |
Summary of Unrecognized Stock-Based Compensation Expense and Weighted-Average Recognition Period | The following table summarizes unrecognized stock-based compensation expense as of March 31, 2026, by type of awards (in thousands), and the weighted-average period over which that expense is expected to be recognized (in years). The total unrecognized stock-based compensation expense will be adjusted for actual forfeitures as they occur.
|  | March 31, 2026 |
|  | Unrecognized Expense |  |  | Weighted-average Recognition Period |
Stock options |  | $ | 45,239 |  |  |  | 3.10 |
Restricted stock units |  | $ | 39,633 |  |  |  | 3.35 |
Performance-based restricted stock units |  | $ | 12,298 |  |  |  | — |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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