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Stock Option and Grant Plan (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Stock-based Compensation Expense | Stock-based compensation expense recorded as research and development and general and administrative expenses in the condensed consolidated statements of operations and other comprehensive loss is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Research and development |  | $ | 15,733 |  |  | $ | 17,645 |
General and administrative |  |  | 10,949 |  |  |  | 11,636 |
Total stock-based compensation expense |  | $ | 26,682 |  |  | $ | 29,281 |
Summary of Stock Option Activity Under Equity Award Plans | The following table provides a summary of stock option activity under the Company’s equity award plans:
|  | Number of options |  |  | Weighted average exercise price |
Outstanding at December 31, 2024 |  |  | 9,605,542 |  |  | $ | 38.62 |
Granted |  |  | 2,155,500 |  |  |  | 25.87 |
Exercised |  |  | (74,707 | ) |  |  | 9.63 |
Forfeited |  |  | (60,259 | ) |  |  | 47.04 |
Outstanding at March 31, 2025 |  |  | 11,626,076 |  |  |  | 36.40 |
Exercisable as of March 31, 2025 |  |  | 6,295,927 |  |  | $ | 41.33 |
Summary of Restricted Stock Activity | The following table summarizes the Company’s restricted stock activity:
|  | Shares |  |  | Weighted- average grant date fair value |
Unvested as of December 31, 2024 |  |  | 2,576,855 |  |  | $ | 36.98 |
Issued |  |  | 1,129,850 |  |  |  | 19.53 |
Vested |  |  | (607,196 | ) |  |  | 44.12 |
Forfeited |  |  | (28,625 | ) |  |  | 39.61 |
Unvested as of March 31, 2025 |  |  | 3,070,884 |  |  | $ | 29.13 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- 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
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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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