XML 62 R46.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stock Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of weighted-average assumptions | The assumptions used in the Company’s valuation are summarized as follows, presented on a weighted average basis:
|  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Risk-free interest rate |  | 4.59 | % |  | 3.11 | %
Expected term (in years) |  | 4.8 |  | 5.9
Expected volatility |  | 98.1 | % |  | 91.2 | %
Expected annual dividends per share |  | — | % |  | — | %
Schedule of stock option activity | The following table summarizes the Company’s time-based stock option activity for the year ended December 31, 2023:
|  | Number of share options |  | Weighted average exercise price |  | Weighted average remaining contractual term |  | Aggregate intrinsic value
Outstanding as of December 31, 2022 |  | 12,712,359 |  | $ | 4.83 |  | 8.4 years |  | $ | 8,702 |
Granted |  | 44,135,170 |  | $ | 1.72 |  |  |  |
Forfeited |  | (2,433,943) |  | $ | 5.56 |  |  |  |
Exercised |  | (204,297) |  | $ | 2.20 |  |  |  |
Outstanding as of December 31, 2023 |  | 54,209,289 |  | $ | 2.28 |  | 9.3 years |  | $ | 42,574 |
Outstanding as of December 31, 2023 - vested and expected to vest |  | 49,407,492 |  | $ | 2.31 |  | 9.3 years |  | $ | 38,406 |
Exercisable at December 31, 2023 |  | 5,716,319 |  | $ | 4.89 |  | 7.2 years |  | $ | 892 |
The following table summarizes the Company’s performance and market-based stock option activity for the year ended December 31, 2023:
|  | Number of share options |  | Weighted average exercise price |  | Weighted average remaining contractual term |  | Aggregate intrinsic value
Outstanding as of December 31, 2022 |  | 6,764,000 |  | $ | 1.15 |  | 9.6 years |  | $ | 20,955 |
Granted |  | 40,835,220 |  | $ | 1.69 |  |  |  |
Forfeited |  | (945,000) |  | $ | 1.20 |  |  |  |
Exercised |  | — |  | $ | — |  |  |  |
Outstanding as of December 31, 2023 |  | 46,654,220 |  | $ | 1.62 |  | 9.6 years |  | $ | 46,237 |
Outstanding as of December 31, 2023 - vested and expected to vest |  | 8,397,760 |  | $ | 1.62 |  | 9.6 years |  | $ | 8,323 |
Exercisable at December 31, 2023 |  | — |  | $ | — |  | — |  | $ | — |
Schedule of stock-based compensation expense | Stock‑based compensation expense related to stock options is recorded within the consolidated statements of operations and comprehensive loss as follows:
|  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Research and development |  | $ | 4,408 |  |  | $ | 4,303 |
General and administrative |  | 9,700 |  |  | $ | 7,645 |
Total stock-based compensation |  | $ | 14,108 |  | $ | 11,948
The following table summarizes share-based compensation expense associated with each of our share-based compensation arrangements:
|  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Time-based stock options |  | $ | 12,606 |  |  | $ | 11,630 |
Performance and market-based stock options |  | 1,318 |  |  | 84 |
Employee stock purchase plan |  | 184 |  | 234
Total stock-based compensation |  | $ | 14,108 |  | $ | 11,948

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration