Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity during the three months ended March 31, 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		86,135		$	3.53
Exercised		—		$	—
Cancelled		(8,584	)	$	17.63
Outstanding at March 31, 2026		2,264,082		$	2.86		7.64	$	8,365
Vested and expected to vest at    March 31, 2026		2,264,082		$	2.86		7.64	$	8,365
Exercisable at March 31, 2026		1,230,591		$	2.99		6.75	$	4,522

Company's RSU Activity

The following table summarizes the Company’s RSU activity during the three months ended March 31, 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 March 31, 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 March 31, 2026 and 2025 were as follows:

	Three Months Ended March 31,
	2026	2025
Risk-free interest rate range	3.79% — 3.83%	4.46%
Expected dividend rate	— %	— %
Expected term (years) range	5.23 — 6.11	5.23
Expected stock price volatility range	97.1% — 98.6%	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 March 31,
	2026		2025
Research and development	$	187	$	265
General and administrative		1,361		1,077
Total stock-based compensation expense	$	1,548	$	1,342