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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Activities Under Company's Stock Option Plans

Activities for the Company’s stock option plans for the six months ended June 30, 2026 were as follows:

		Options Outstanding
		Number of  Options				Weighted- Average Exercise Price Per Share
Balance at December 31, 2025			16,708,942			$	5.12
Options granted			3,436,449				5.42
Options exercised			(293,244	)			1.67
Options forfeited/expired			(377,246	)			11.97
Balance at June 30, 2026			19,474,901			$	5.09

Total Stock-based Compensation Recognized

Total stock-based compensation recorded was as follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
		(in thousands)								(in thousands)
Research and development		$	1,122			$	563			$	2,015			$	1,126
General and administrative			1,455				868				5,268				2,313
Total stock-based compensation expense		$	2,577			$	1,431			$	7,283			$	3,439

Time based RSUs

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Company's TRSU Activities

Activities for the Company’s TRSUs for the six months ended June 30, 2026 were as follows:

		Number of Shares				Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2025			2,911,194			$	1.25
RSUs awarded			1,260,462				5.78
RSUs vested			(1,348,776	)			1.41
RSUs forfeited			(97,844	)			3.36
Balance at June 30, 2026			2,725,036			$	3.19

Performance based RSUs

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Activities for Company's PSUs

Activities for the Company’s PSUs for the six months ended June 30, 2026, were as follows:

		Number of Shares				Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2025			705,850			$	2.39
PSUs awarded			50,000				6.09
PSUs vested			—				—
Balance at June 30, 2026			755,850			$	2.63

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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.

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