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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes stock option activity for the three months ended March 31, 2026:
|  | Options |  |  | Weighted-Average Exercise Price |
Outstanding at December 31, 2025 |  |  | 13,757,773 |  |  | $ | 6.47 |
Granted |  |  | 3,746,250 |  |  | $ | 9.13 |
Exercised |  |  | (55,836 | ) |  | $ | 4.10 |
Forfeited |  |  | (132,917 | ) |  | $ | 2.60 |
Balance at March 31, 2026 |  |  | 17,315,270 |  |  | $ | 7.08 |
Stock-Based Compensation Expense Reported in Condensed Statements of Operations | Stock-based compensation expense has been reported in the Company's condensed statements of operations as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Research and development |  | $ | 1,831 |  |  | $ | 1,647 |
General and administrative |  |  | 2,093 |  |  |  | 1,892 |
Total |  | $ | 3,924 |  |  | $ | 3,539 |

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