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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2026
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Options Valuation Assumptions | The relevant data used to determine the fair value of the stock options during the three and six months ended June 30, 2026 and 2025 is as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Expected term (in years) |  |  | 5.9 |  |  |  | 6.0 |  |  |  | 6.0 |  |  |  | 6.0 |
Expected volatility |  |  | 93.1 | % |  |  | 100.7 | % |  |  | 97.5 | % |  |  | 104.3 | %
Risk-free interest rate |  |  | 4.2 | % |  |  | 4.1 | % |  |  | 3.9 | % |  |  | 4.4 | %
Expected dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Summary of Stock Option Activities | The activity for the stock options is as follows:
|  |  |  |  | Weighted |  |  | Weighted |  |  |  |
|  |  |  |  | Average |  |  | Average |  |  | Aggregate |
|  | Number of |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Shares |  |  | Price |  |  | Term |  |  | Value |
|  |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Outstanding as of December 31, 2025 |  |  | 6,427,777 |  |  | $ | 2.81 |  |  |  | 9.05 |  |  | $ | 11,727 |
Options granted |  |  | 2,926,074 |  |  |  | 5.83 |  |  |  |  |  |  |
Options exercised |  |  | (97,720 | ) |  |  | 2.66 |  |  |  |  |  |  |
Options forfeited |  |  | (784,866 | ) |  |  | 4.14 |  |  |  |  |  |  |
Outstanding as of June 30, 2026 |  |  | 8,471,265 |  |  | $ | 3.73 |  |  |  | 8.70 |  |  | $ | 78,899 |
Vested and expected to vest as of June 30, 2026 |  |  | 8,471,265 |  |  | $ | 3.73 |  |  |  | 8.70 |  |  | $ | 78,899 |
Options exercisable as of June 30, 2026 |  |  | 1,925,199 |  |  | $ | 3.42 |  |  |  | 7.08 |  |  | $ | 18,512 |
Summary of Restricted Stock Awards | The Company has outstanding RSUs with service-based vesting conditions and RSUs with performance-based vesting conditions. The activity for RSUs is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2025 |  |  | 207,897 |  |  | $ | 7.50 |
Granted |  |  | 441 |  |  |  | 5.67 |
Vested |  |  | (70,838 | ) |  |  | 7.44 |
Unvested at June 30, 2026 |  |  | 137,500 |  |  | $ | 7.53 |
Summary of Share-based Compensation Expense | The following table sets forth stock-based compensation expense included in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Research and development expenses |  | $ | 333 |  |  | $ | 521 |  |  | $ | 905 |  |  | $ | 1,427 |
General and administrative expenses |  |  | 1,148 |  |  |  | 492 |  |  |  | 2,181 |  |  |  | 1,608 |
Total stock-based compensation expense |  | $ | 1,481 |  |  | $ | 1,013 |  |  | $ | 3,086 |  |  | $ | 3,035 |

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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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- 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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