v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations:

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

 

(in thousands)

 

Research and development

 

$

3,549

 

 

$

4,162

 

 

$

7,535

 

 

$

7,968

 

General and administrative

 

 

3,021

 

 

 

3,376

 

 

 

6,290

 

 

 

6,289

 

Total

 

$

6,570

 

 

$

7,538

 

 

$

13,825

 

 

$

14,257

 
Schedule of Stock Option Activity

The following table summarizes the stock option activity for the six months ended June 30, 2025:

 

Number of
shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Options outstanding as of December 31, 2024

 

 

19,615,023

 

 

$

7.41

 

 

 

7.43

 

 

$

2,157,177

 

Granted

 

 

4,846,458

 

 

$

2.87

 

 

 

 

 

 

 

Exercised

 

 

(83,137

)

 

$

2.94

 

 

 

 

 

 

 

Cancelled

 

 

(648,749

)

 

$

6.61

 

 

 

 

 

 

 

Options outstanding as of June 30, 2025

 

 

23,729,595

 

 

$

6.52

 

 

 

7.01

 

 

$

20,800,022

 

Options exercisable as of June 30, 2025

 

 

14,337,262

 

 

$

6.84

 

 

 

5.86

 

 

$

10,326,063

 
Summary of Restricted Stock Unit Activity

The following table summarizes the RSU activity for the six months ended June 30, 2025:

 

 

Number of
Stock Units

 

 

Weighted Average
Grant Date Fair Value Per Share

 

Unvested and outstanding as of December 31, 2024

 

 

1,209,333

 

 

$

8.92

 

Granted

 

 

792,430

 

 

 

2.87

 

Vested

 

 

(433,483

)

 

 

8.62

 

Forfeited

 

 

(154,667

)

 

 

6.19

 

Unvested and outstanding as of June 30, 2025

 

 

1,413,613

 

 

$

5.92