v3.25.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-based Awards Activity and RSU Activity

The following table provides a summary of stock-based awards activity for the six months ended June 30, 2025:

Stock Options:

 

Outstanding at December 31, 2024

 

 

13,554,621

 

Granted

 

 

289,500

 

Exercised

 

 

(144,500

)

Expired/cancelled/forfeited

 

 

(509,750

)

Outstanding at June 30, 2025

 

 

13,189,871

 

The total compensation cost related to non-vested stock options not yet recognized as of June 30, 2025, was $15.4 million, which will be recognized over a weighted-average period of approximately 3.1 years.

RSUs:

 

Outstanding at December 31, 2024

 

 

4,677,500

 

Granted

 

 

265,500

 

Vested

 

 

(380,000

)

Forfeited

 

 

(520,000

)

Outstanding at June 30, 2025

 

 

4,043,000

 

Stock-based Compensation Expense included in Accompanying Statements of Operations and Comprehensive Loss

Stock-based compensation expense is included in the following line items in the accompanying statements of operations and comprehensive loss for the three and six months ended June 30, 2025 and 2024 (in thousands):

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

385

 

 

$

600

 

 

$

1,291

 

 

$

1,903

 

General and administrative

 

 

2,284

 

 

 

1,596

 

 

 

4,350

 

 

 

2,550

 

Total stock-based compensation

 

$

2,669

 

 

$

2,196

 

 

$

5,641

 

 

$

4,453