v3.25.2
Common Stock and Stock-Based Awards (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2024:

 

 

 

Number
of Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Outstanding as of December 31, 2024

 

 

886,123

 

 

$

129.29

 

 

 

6.59

 

 

$

87

 

Granted

 

 

512,431

 

 

$

15.37

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Forfeited

 

 

(198,087

)

 

$

112.31

 

 

 

 

 

 

 

Outstanding as of June 30, 2025

 

 

1,200,467

 

 

$

83.46

 

 

 

7.62

 

 

$

—

 

Vested or expected to vest as of June 30, 2025

 

 

1,200,467

 

 

$

83.46

 

 

 

7.62

 

 

$

—

 

Options exercisable as of June 30, 2025

 

 

499,042

 

 

$

168.97

 

 

 

5.35

 

 

$

—

 
Summary of Restricted and Performance Stock Unit Activity The following table summarizes the Company’s RSU and PSU activity since December 31, 2024:

 

 

 

Number
of Shares

 

 

Weighted
Average Grant
Date Fair
Value

 

Unvested restricted stock units as of December 31, 2024

 

 

81,459

 

 

$

55.36

 

Granted

 

 

11,250

 

 

$

14.37

 

Vested

 

 

(35,161

)

 

$

44.30

 

Forfeited

 

 

(6,349

)

 

$

65.29

 

Unvested restricted stock units as of June 30, 2025

 

 

51,199

 

 

$

52.71

 
Summary of Stock Based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive income (loss) (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development expenses

 

$

1,011

 

 

$

2,835

 

 

$

2,341

 

 

$

6,445

 

General and administrative expenses

 

 

1,329

 

 

 

2,699

 

 

 

2,818

 

 

 

5,578

 

 

 

$

2,340

 

 

$

5,534

 

 

$

5,159

 

 

$

12,023

 

 

For the three and six months ended June 30, 2024, the table above includes stock-based compensation amounts related to discontinued operations.