v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule Of Common Stock Available For Issuance Under The Equity Incentive Plans

Shares of common stock available for issuance under the Company's equity incentive plans at June 30, 2025 were as follows:

 

June 30, 2025

 

Outstanding stock awards

 

 

20,037,642

 

Reserved for future award grants

 

 

3,862,747

 

Reserved for future ESPP

 

 

296,960

 

Total

 

 

24,197,349

 

Summary of stock options and performance-based stock options under 2021 LTPIP, 2018 Plan and 2015 Plan.

Stock option activity, including stock options and performance-based stock options under the 2021 Long-Term Performance Incentive Plan (“2021 LTPIP”), 2018 Plan and 2015 Plan is summarized as follows:

 

 

 

Number
of
Options

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding at December 31, 2024

 

 

19,873,073

 

 

$

36.06

 

 

 

6.88

 

 

$

51,018

 

Granted

 

 

489,500

 

 

$

4.00

 

 

 

 

 

 

 

Exercised

 

 

(36,747

)

 

$

4.41

 

 

 

 

 

 

 

Forfeited or canceled

 

 

(406,076

)

 

$

17.37

 

 

 

 

 

 

 

Outstanding at June 30, 2025

 

 

19,919,750

 

 

$

35.72

 

 

 

6.45

 

 

$

5,774

 

 

Summary of Restricted Shares

Restricted share activity, including restricted stock awards, restricted stock units, and performance-based restricted stock units, under the 2018 Plan is summarized as follows:

 

 

Number of
Restricted
Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

Unvested at December 31, 2024

 

 

121,660

 

 

$

16.08

 

Granted

 

 

31,200

 

 

$

3.84

 

Vested

 

 

(29,593

)

 

$

37.17

 

Canceled

 

 

(5,375

)

 

$

22.84

 

Unvested at June 30, 2025

 

 

117,892

 

 

$

7.24

 

Summary of Stock-based Compensation for Options and Restricted Shares Classified in Condensed Consolidated Statements of Operations and Comprehensive Loss

Stock-based compensation is classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

7,714

 

 

$

8,938

 

 

$

15,572

 

 

$

17,641

 

General and administrative

 

 

7,927

 

 

 

9,437

 

 

 

15,960

 

 

 

19,143

 

Total stock-based compensation

 

$

15,641

 

 

$

18,375

 

 

$

31,532

 

 

$

36,784