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Stock-based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the year ended December 31, 2024 and 2023 under the 2019 Plan:
| Options |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding as of January 1, 2024 | 6,196,140 |  |  | $ | 7.15 |  |  |  |  |
Granted | 10,345,598 |  |  | $ | 1.24 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  |
Repricing modification | — |  |  | $ | 9.55 |  |  |  |  |
Forfeited or expired | (405,693) |  |  | $ | 2.05 |  |  |  |  |
Outstanding as of December 31, 2024 | 16,136,045 |  |  | $ | 1.52 |  |  | 8.61 |  | $ | — |
Options vested and expected to vest as of December 31, 2024 | 16,136,045 |  |  | $ | 1.52 |  |  | 8.61 |  | $ | — |
Options exercisable as of December 31, 2024 | 4,657,611 |  |  | $ | 2.03 |  |  | 7.00 |  | $ | — |
| Options |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding as of January 1, 2023 | 3,791,688 |  |  | $ | 11.33 |  |  |  |  |
Granted | 2,810,564 |  |  | $ | 1.70 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  |
Forfeited or expired | (406,112) |  |  | $ | 8.52 |  |  |  |  |
Outstanding as of December 31, 2023 | 6,196,140 |  |  | $ | 7.15 |  |  | 8.14 |  | $ | 185,169 |
Options vested and expected to vest as of December 31, 2023 | 6,196,140 |  |  | $ | 7.15 |  |  | 8.14 |  | $ | 185,169 |
Options exercisable as of December 31, 2023 | 2,534,017 |  |  | $ | 11.33 |  |  | 7.19 |  | $ | 12,381 |
Schedule of Valuation Assumptions Used | The following are the underlying assumptions used in the Black-Scholes-Merton option pricing model to determine the fair value of stock options granted to employees and to non-employees under this stock plan:
| 2024 | 2023
Risk-free interest rate | 4.11% | 3.98%
Expected dividend yield | 0% | 0%
Expected volatility | 101.0% | 96.1%
Expected term of options (years) | 6.0 | 6.0
Schedule of Stock-based Compensation Expense for Stock Awards Recognized | Total stock-based compensation expense for all stock awards recognized in the accompanying audited consolidated statements of operations is as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023
Research and development | $ | 3,635 |  |  | $ | 3,398 |
General and administrative | 4,892 |  |  | 3,704 |
Total | $ | 8,527 |  |  | $ | 7,102 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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