XML 142 R30.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stockholders' Equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Equity [Abstract] |
Schedule of Stock Option Activity | Stock option activity in 2024 for employee and non-employee awards and related information is as follows (in thousands, except per share and contractual term data):
| Number of Outstanding Options |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Balance at December 31, 2023 | 12,495 |  | $ | 14.91 |  |  |  |  |
Granted | 4,162 |  | 27.06 |  |  |  |  |
Exercised | (3,498) |  | 13.78 |  |  |  |  |
Forfeited/expired | (524) |  | 15.70 |  |  |  |  |
Balance at December 31, 2024 | 12,635 |  | $ | 19.19 |  |  | 7.88 |  | $ | 149,957 |
Vested and expected to vest at December 31, 2024 | 12,635 |  | $ | 19.19 |  |  | 7.88 |  | $ | 149,957 |
Exercisable at December 31, 2024 | 5,772 |  | $ | 15.32 |  |  | 6.89 |  | $ | 79,900 |
The following summarizes additional information regarding stock options (in thousands, except per share data):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash received from options exercised | $ | 48,207 |  |  | $ | 573 |  |  | $ | 470 |
Intrinsic value of options exercised | $ | 83,422 |  |  | $ | 2,421 |  |  | $ | 6,724 |
Weighted-average grant date fair value per share | $ | 19.26 |  |  | $ | 10.33 |  |  | $ | 11.11 |
Schedule of Unvested Restricted Stock Units Roll Forward | The following table summarizes the RSU activity for the year ended December 31, 2024 (in thousands, except per share data):
| Number of Shares |  | Weighted-Average Grant Date Fair Value
Balance at December 31, 2023 | 758 |  |  | $ | 18.73 |
Granted | 1,711 |  |  | 25.51 |
Vested | (184) |  |  | 18.79 |
Forfeited | (174) |  |  | 14.82 |
Balance at December 31, 2024 | 2,111 |  |  | $ | 24.54 |
The following table summarizes the PSU activity for the year ended December 31, 2024 (in thousands, except per share data):
| Number of Shares |  | Weighted-Average Grant Date Fair Value
Balance at December 31, 2023 | 750 |  |  | $ | 6.57 |
Granted | 738 |  |  | 43.22 |
Vested | (563) |  |  | 6.57 |
Forfeited | — |  |  | — |
Balance at December 31, 2024 | 925 |  |  | $ | 35.80 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The assumptions used in the Black-Scholes model to determine the fair value of stock option grants and shares purchasable under the ESPP were as follows:
| Options |  | ESPP
| Year Ended December 31, |  | Year Ended December 31,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Risk-free interest rate | 3.5% - 4.7% |  | 3.5% - 4.9% |  | 1.5% - 4.2% |  | 4.3% - 5.4% |  | 5.4% |  | 2.2% - 4.7%
Expected volatility | 79% - 82% |  | 78% - 82% |  | 85% |  | 64% - 82% |  | 68% - 76% |  | 78% - 79%
Expected term (in years) | 5.3 - 6.1 |  | 5.5 - 6.1 |  | 5.5 - 6.1 |  | 0.5 |  | 0.5 |  | 0.5
Expected dividend yield | —% |  | —% |  | —% |  | —% |  | —% |  | —%
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The assumptions used in the Black-Scholes model to determine the fair value of stock option grants and shares purchasable under the ESPP were as follows:
| Options |  | ESPP
| Year Ended December 31, |  | Year Ended December 31,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Risk-free interest rate | 3.5% - 4.7% |  | 3.5% - 4.9% |  | 1.5% - 4.2% |  | 4.3% - 5.4% |  | 5.4% |  | 2.2% - 4.7%
Expected volatility | 79% - 82% |  | 78% - 82% |  | 85% |  | 64% - 82% |  | 68% - 76% |  | 78% - 79%
Expected term (in years) | 5.3 - 6.1 |  | 5.5 - 6.1 |  | 5.5 - 6.1 |  | 0.5 |  | 0.5 |  | 0.5
Expected dividend yield | —% |  | —% |  | —% |  | —% |  | —% |  | —%
Schedule of Allocated Stock-based Compensation Expense | The allocation of stock-based compensation expense was as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Research and development expense | $ | 26,120 |  |  | $ | 22,007 |  |  | $ | 15,222 |
General and administrative expense | 25,243 |  |  | 16,215 |  |  | 11,917 |
Total stock-based compensation expense | $ | 51,363 |  |  | $ | 38,222 |  |  | $ | 27,139 |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
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 -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
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 employee stock purchase plans, including, but not limited to: (a) expected term, (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_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
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

X
- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
Name: | us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration