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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 Option Activity | The following table summarizes the Company’s stock option activity during the six months ended June 30, 2026:
|  | Number of Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (In Years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2026 |  |  | 2,186,531 |  |  | $ | 2.82 |  |  |  | 7.81 |  |  | $ | 1,567 |
Granted |  |  | 172,743 |  |  | $ | 8.10 |  |  |  |  |  |  |
Exercised |  |  | (55,185 | ) |  | $ | 2.79 |  |  |  |  |  |  |
Cancelled |  |  | (51,709 | ) |  | $ | 7.17 |  |  |  |  |  |  |
Outstanding at June 30, 2026 |  |  | 2,252,380 |  |  | $ | 3.19 |  |  |  | 7.53 |  |  | $ | 21,614 |
Vested and expected to vest at June 30, 2026 |  |  | 2,252,380 |  |  | $ | 3.19 |  |  |  | 7.53 |  |  | $ | 21,614 |
Exercisable at June 30, 2026 |  |  | 1,680,526 |  |  | $ | 2.86 |  |  |  | 7.31 |  |  | $ | 16,709 |
Company's RSU Activity | The following table summarizes the Company’s RSU activity during the six months ended June 30, 2026:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |
Outstanding at January 1, 2026 |  |  | 317,213 |  |  | $ | 2.54 |
Granted |  |  | 389,850 |  |  | $ | 4.50 |
Vested |  |  | (104,737 | ) |  | $ | 2.54 |
Forfeited |  |  | (3,000 | ) |  | $ | 2.54 |
Outstanding at June 30, 2026 |  |  | 599,326 |  |  | $ | 3.81 |
Summary of Assumptions Used to Value Stock Options Granted | The underlying assumptions used to value stock options granted using the Black-Scholes option-pricing model prior to the Option Repricing during the three months ended June 30, 2026 and the six months ended June 30, 2026 and 2025 were as follows (there were no stock options granted during the three months ended June 30, 2025):
|  | Three Months Ended |  | Six Months Ended June 30,
|  | June 30, 2026 |  | 2026 |  | 2025
Risk-free interest rate range |  | 4.24% |  | 3.79% — 4.24% |  | 4.46%
Expected dividend rate |  | — % |  | — % |  | — %
Expected term (years) range |  | 5.5 |  | 5.23 — 6.11 |  | 5.23
Expected stock price volatility range |  | 112.3% |  | 97.1% — 112.3% |  | 95.8%
Summary of Stock-Based Compensation Expense | The Company recorded stock-based compensation expense in the following expense categories of its statements of operations (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Research and development |  | $ | 219 |  |  | $ | 280 |  |  | $ | 405 |  |  | $ | 545 |
General and administrative |  |  | 1,467 |  |  |  | 988 |  |  |  | 2,828 |  |  |  | 2,065 |
Total stock-based compensation expense |  | $ | 1,686 |  |  | $ | 1,268 |  |  | $ | 3,233 |  |  | $ | 2,610 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -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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- 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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