v3.25.3
Share-Based Compensation
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation

9. Share-Based Compensation

The following table summarizes share-based compensation expense for all share-based compensation arrangements, in thousands:

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

$

3,212

 

 

$

3,570

 

 

$

9,253

 

 

$

11,218

 

General and administrative

 

7,753

 

 

 

4,754

 

 

 

16,503

 

 

 

14,048

 

Total share-based compensation expense

$

10,965

 

 

$

8,324

 

 

$

25,756

 

 

$

25,266

 

As of September 30, 2025, unrecognized estimated compensation expense related to stock options, RSUs and PSUs was approximately $41.0 million, $12.4 million, and $0.8 million, respectively, which is expected to be recognized over a weighted average period of approximately 2.7 years, 2.7 years, and 1.0 years, respectively. As of September 30, 2025, 969,417 PSUs were outstanding and the vesting of 775,534 PSUs were determined to not be probable and have not been included in share-based compensation expense or unrecognized estimated compensation expense.