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Common Stock
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Common Stock

7. Common Stock

Each share of common stock entitles the holder to one vote on all matters submitted to the stockholders for a vote. The holders of common stock are entitled to receive dividends, if any, as declared by the Company’s board of directors, subject to the preferential dividend rights of convertible preferred stock. To-date, no dividends have been declared or paid.

In July 2025, the Company filed a shelf registration statement on Form S-3 (the “2025 Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) with an offering amount of up to $400.0 million in common stock, preferred stock, debt securities, warrants and/or units. Concurrent with the filing of the 2025 Registration Statement, the Company entered into a common stock sales agreement (the “Sales Agreement”), dated July 1, 2025, by and between the Company and Leerink Partners LLC and Cantor Fitzgerald & Co., acting as sales agents, which established an at-the-market offering program pursuant to which the Company may offer and sell shares of its common stock from time to time (the “ATM Program”). In connection with the ATM Program, the Company also filed a prospectus with the Registration Statement for the offer and sale of up to $150.0 million of shares of common stock from time to time through the sales agents (the “July 2025 ATM Prospectus”). In September 2025, the Company terminated the July 2025 ATM Prospectus.

In September 2025, the Company completed an underwritten public offering of 11,057,692 shares of common stock (inclusive of 1,442,307 shares of common stock sold pursuant to the underwriters’ full exercise of their option to purchase additional shares) at a public offering price of $26.00 per share (the “September 2025 Offering”) pursuant to an effective shelf registration statement (File No. 333-288444) and a related prospectus supplement filed with the SEC. The net proceeds from the September 2025 Offering were approximately $269.4 million, after deducting underwriter discounts, commissions, and other offering costs of $18.1 million.

In connection with the ATM Program, the Company filed a prospectus supplement with the SEC in January 2026, for the offer and sale of up to $110.0 million of shares of common stock from time to time through the sales agents, to be issued pursuant to the Sales Agreement (the “January 2026 ATM Prospectus”).

In March 2026, the Company filed an automatic shelf registration statement on Form S-3ASR (the “2026 Registration Statement”), containing (i) a base prospectus, which covers the offering, issuance and sale from time to time in one or more offerings of an indeterminate amount of common stock, preferred stock, debt securities, warrants and/or units; and (ii) a sales agreement prospectus for the offering and issuance and sale of up to a maximum aggregate offering price of $150.0 million of common stock, to be issued pursuant to the Sales Agreement. The 2025 Registration Statement was terminated automatically upon the filing of the 2026 Registration Statement. To date, the Company has not sold any shares pursuant to the Sales Agreement.

As of March 31, 2026, the Company had reserved 11,179,735 shares of common stock, of which 2,428,124 shares were reserved for issuance under the 2022 Plan, 8,061,566 shares under the 2024 Stock Option and Grant Plan (the “2024 Plan”) and 690,045 shares under the 2024 Employee Stock Purchase Plan (the “2024 ESPP”) (see Note 8).