v3.26.1
Stock-based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the three months ended March 31, 2026:

 

 

Number of Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life (Years)

 

 

Aggregate Intrinsic
Value (USD$)

 

Options outstanding at December 31, 2025

 

 

6,106,759

 

 

$

10.94

 

 

 

7.6

 

 

$

30,906,946

 

Granted

 

 

357,610

 

 

 

17.12

 

 

 

 

 

 

 

Exercised

 

 

(163,350

)

 

 

7.33

 

 

 

 

 

 

 

Forfeited

 

 

(4,719

)

 

 

4.81

 

 

 

 

 

 

 

Expired

 

 

(100,900

)

 

 

37.42

 

 

 

 

 

 

 

Options outstanding at March 31, 2026

 

 

6,195,400

 

 

$

10.97

 

 

 

7.6

 

 

$

58,150,165

 

Options vested and exercisable at March 31, 2026

 

 

2,340,431

 

 

$

14.76

 

 

 

5.2

 

 

$

18,691,811

 

Schedule of Restricted Share Units

The following table summarizes the Company's RSU activity for the three months ended March 31, 2026:

 

 

 

 

 

 

 

 

 

Number of RSUs

 

 

Weighted Average Grant Date Fair Value

 

Balance at December 31, 2025

 

 

5,457,220

 

 

$

6.29

 

Granted

 

 

2,909,010

 

 

 

18.01

 

Vested

 

 

(169,306

)

 

 

6.17

 

Cancelled

 

 

(21,425

)

 

 

14.58

 

Balance at March 31, 2026

 

 

8,175,499

 

 

$

10.44

 

Summary of Stock-based Compensation Expense

Stock-based compensation expense for all equity arrangements for the three months ended March 31, 2026 and 2025 was as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Research and development

 

$

2,875

 

 

$

2,053

 

General and administrative

 

 

4,257

 

 

 

1,373

 

Total

 

$

7,132

 

 

$

3,426