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Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

8. Stockholders’ Equity

2026 Private Placement

On April 14, 2026, the Company issued and sold pre-funded warrants to purchase up to 5,770,335 shares of voting common stock in the Private Placement at a purchase price of $5.199 per Warrant Share to the Investors, including existing investors (see Note 7), for gross proceeds to the Company of $30.0 million. The Company incurred issuance costs of $2.0 million in connection with the issuance of the Warrant Shares.

The pre-funded warrants have an exercise price of $0.001 per Warrant Share, subject to customary adjustments, and are exercisable at any time after original issuance and will not expire until exercised in full. The pre-funded warrants are also exercisable on a net exercise “cashless” basis. The pre-funded warrants may not be exercised if the aggregate number of shares of voting common stock beneficially owned by the holder thereof immediately following such exercise would exceed a specified beneficial ownership limitation, not to exceed 19.99%.

The pre-funded warrants are recorded net of issuance costs and classified as additional paid-in-capital within stockholders’ equity. The pre-funded warrants are classified as equity because they are freestanding financial instruments entered into separately and apart from any of the Company’s other financial instruments or equity transactions, are immediately exercisable, do not embody an obligation for the Company to repurchase its shares, are indexed to the Company’s common stock and meet the equity classification criteria.

Registration Rights Agreement

In connection with the Private Placement, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with the Investors, pursuant to which the Company agreed to prepare and file, within three business days following August 1, 2026, subject to certain allowable delays, a registration statement with the SEC to register for resale the Warrant Shares, and generally to cause the applicable registration statement to promptly become effective. The Company will be required to make certain cash payments in the event of registration failures, as described in the Registration Rights Agreement, not to exceed 5% of the aggregate purchase price.

As of June 30, 2026, the Company determined that the likelihood of the Company incurring a significant amount of liquidated damages pursuant to the Registration Rights Agreement is not probable.