Common stock (Tables)

3 Months Ended

Mar. 31, 2026

Common stock

Summary of reserved shares of common stock for issuance, on an as-converted basis

The Company has reserved the following shares of common stock for issuance, on an as-converted basis, as follows:

	March 31, 2026		December 31, 2025
Stock options issued and outstanding under the Plans		16,218,110		15,856,758
Remaining shares available for issuance under the Plans		6,580,110		2,454,332
Remaining shares available for issuance under the ESPP		2,550,859		1,550,859
Total reserved common stock		25,349,079		19,861,949

2025 Public Offerings

In January 2025, the Company completed a public offering and issued 22,258,064 shares of its common stock at a price of $7.75 per share, for net proceeds of $161.7 million, after deducting underwriting discounts and commissions and offering expenses.

In December 2025, the Company completed a public offering and issued 21,418,750 shares of its common stock at a price of $21.50 per share, for net proceeds of $432.4 million, after deducting underwriting discounts and commissions and offering expenses.