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Stock-Based Awards (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used for Estimating the Fair Value of Stock Options Granted
The fair value of stock options granted to employees was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
Three Months Ended
March 31,
20262025
Expected term of options (in years)6.16.1
Expected stock price volatility
93.3%
89.5% - 89.9%
Risk-free interest rate
3.8%-3.9%
4.1% - 4.5%
Expected dividend yield
Schedule of Stock-Based Compensation Expense The following table sets forth the total stock-based compensation expense for all awards granted to employees and non-employees and the ESPP in the unaudited condensed consolidated statements of operations (in thousands):
Three Months Ended
March 31,
20262025
Research and development$6,022 $7,005 
Selling, general and administrative6,065 7,054 
Total stock-based compensation$12,087 $14,059