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Stock-Based Compensation (Tables)

6 Months Ended

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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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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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.

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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.

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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.

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