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Stockholders' Equity | 3 Months Ended
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Mar. 31, 2026
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | 11. Stockholders' Equity Common Stock The Company’s Restated Certificate of Incorporation, which became effective as of June 6, 2024, authorized the Company to issue 300,000,000 shares of common stock, par value $0.0001 per share. Common stockholders are entitled to dividends if and when declared by the board of directors of the Company subject to the prior rights of the preferred stockholders. As of March 31, 2026, no dividends on common stock had been declared by the board of directors. The Company has the following shares of common stock reserved for future issuance:
|  | March 31, 2026 |  |  | December 31, 2025 |
Stock options and restricted stock units available for future grant |  |  | 361,516 |  |  |  | 682,713 |
Stock options issued and outstanding |  |  | 1,583,057 |  |  |  | 763,464 |
Unvested restricted stock units |  |  | 74,503 |  |  |  | 46,842 |
Common stock warrants issued and outstanding |  |  | 1,152,833 |  |  |  | 1,152,833 |
Total common stock reserved |  |  | 3,171,909 |  |  |  | 2,645,852 |
On January 22, 2024, the Company entered into the Underwriting Agreement with Jefferies and Guggenheim, as representatives of the 2024 Underwriters, related to the Offering of 2,023,729 shares of common stock, which included 332,812 shares sold and issued upon the exercise in full by the 2024 Underwriters of their option to purchase additional shares of common stock, and, in lieu of common stock to certain investors, pre-funded warrants to purchase 527,833 shares of common stock. The pre-funded warrants were sold at a public offering price of $38.3984 per pre-funded warrant, which represents the per share public offering price of each share of common stock minus the $0.0016 per share exercise price for each pre-funded warrant. The pre-funded warrants do not have an expiration date and are exercisable at any time. The pre-funded warrants are classified as equity within the Company's consolidated balance sheet. The Company received net proceeds from the Offering, after deducting the underwriting discount and commissions and other offering expenses, of approximately $91.7 million. The Company may receive nominal proceeds, if any, from the exercise of the pre-funded warrants. On October 7, 2025, the Company entered into the 2025 Underwriting Agreement with Jefferies and Guggenheim, as representatives of the 2025 Underwriters, related to the 2025 Offering of 4,375,062 shares of common stock, and, in lieu of common stock to an investor, pre-funded warrants to purchase 625,000 shares of common stock. The 2025 Shares were sold at a price of $16.00 per share and the 2025 Pre-Funded Warrants were sold at a price of $15.9984 per underlying share, which represents the per share offering price of each share of common stock minus the $0.0016 per share exercise price for each pre-funded warrant. The pre-funded warrants do not have an expiration date and are exercisable at any time. The pre-funded warrants are classified as equity within the Company's consolidated balance sheet. The Company received net proceeds from the 2025 Offering, after deducting the underwriting discount and commissions and other offering expenses, of approximately $74.8 million. The Company may receive nominal proceeds, if any, from the exercise of the 2025 Pre-Funded Warrants. The following provides a roll forward of outstanding pre-funded warrants to purchase common stock as of March 31, 2026:
Issuance Date |  | Number of Shares of Common Stock Issuable |  |  | Weighted Average Exercise Price |
Outstanding, December 31, 2025 |  |  | 1,152,833 |  |  | $ | 0.0016 |
Warrants issued |  |  | — |  |  |  | — |
Warrants exercised |  |  | — |  |  |  | — |
Warrants forfeited |  |  | — |  |  |  | — |
Outstanding, March 31, 2026 |  |  | 1,152,833 |  |  | $ | 0.0016 |

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