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Stock Option and Grant Plan (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Research and development |  | $ | 13,840 |  |  | $ | 18,371 |  |  | $ | 44,405 |  |  | $ | 54,819 |
General and administrative |  |  | 8,907 |  |  |  | 11,188 |  |  |  | 29,391 |  |  |  | 35,625 |
Total stock-based compensation expense |  | $ | 22,747 |  |  | $ | 29,559 |  |  | $ | 73,796 |  |  | $ | 90,444 |
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 |  |  | 2,672,384 |  |  |  | 24.45 |
Exercised |  |  | (213,235 | ) |  |  | 13.53 |
Forfeited |  |  | (516,463 | ) |  |  | 43.43 |
Outstanding at September 30, 2025 |  |  | 11,548,228 |  |  |  | 35.60 |
Exercisable as of September 30, 2025 |  |  | 7,058,137 |  |  | $ | 40.61 |
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 |  |  | 1,289,927 |  |  |  | 19.47 |
Vested |  |  | (783,939 | ) |  |  | 46.31 |
Forfeited |  |  | (300,958 | ) |  |  | 25.00 |
Unvested as of September 30, 2025 |  |  | 2,781,885 |  |  | $ | 27.53 |

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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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