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v3.25.1

Stock-based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of RSUs Activity Under the Plan | Total stock-based compensation expense related to stock options, RSUs and the ESPP by function was as follows:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
|  | (in thousands) |
Research and development |  | $ | 16,380 |  |  | $ | 10,244 |
General and administrative |  |  | 8,704 |  |  |  | 5,964 |
Total |  | $ | 25,084 |  |  | $ | 16,208 |
2020 Plan and 2014 Plan |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Option Activity Under the Plan | The following summarizes option activity under both the 2020 Plan and the 2014 Plan:
|  | Number of Shares underlying options |  |  | Weighted- average exercise price |  |  | Weighted- average remaining contractual term |  |  | Aggregate intrinsic value |
|  |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Balance, December 31, 2024 |  |  | 13,985,538 |  |  | $ | 24.25 |  |  |  | 7.36 |  |  | $ | 276,335 |
Options granted |  |  | 2,859,335 |  |  |  | 40.96 |  |  |  |  |  |  |
Options exercised |  |  | (90,043 | ) |  |  | 9.90 |  |  |  |  |  |  |
Options cancelled and forfeited |  |  | (20,198 | ) |  |  | 32.48 |  |  |  |  |  |  |
Balance, March 31, 2025 |  |  | 16,734,632 |  |  | $ | 27.17 |  |  |  | 7.59 |  |  | $ | 170,683 |
Options vested and exercisable as of March 31, 2025 |  |  | 8,185,474 |  |  | $ | 19.80 |  |  |  | 6.15 |  |  | $ | 133,644 |
2020 Equity Incentive Plan |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of RSUs Activity Under the Plan | Activity under the 2020 Plan with respect to the Company’s restricted stock units (RSUs) during the three months ended March 31, 2025 was as follows:
|  | Number of Shares |  |  | Weighted- average grant date fair value per share |  |  | Weighted- average remaining contractual term |  |  | Aggregate intrinsic value |
|  |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Balance, December 31, 2024 |  |  | 2,850,112 |  |  | $ | 30.87 |  |  |  | 1.49 |  |  | $ | 124,664 |
RSUs granted |  |  | 1,277,655 |  |  |  | 41.05 |  |  |  |  |  |  |
RSUs vested |  |  | (271,536 | ) |  |  | 27.22 |  |  |  |  |  |  |
RSUs forfeited |  |  | (13,774 | ) |  |  | 32.34 |  |  |  |  |  |  |
Balance, March 31, 2025 |  |  | 3,842,457 |  |  | $ | 34.50 |  |  |  | 1.61 |  |  |  | 135,869 |
Expected to vest as of March 31, 2025 |  |  | 3,842,457 |  |  | $ | 34.50 |  |  |  | 1.61 |  |  |  | 135,869 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -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
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