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Non-Cash Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of non-cash share-based compensation expense | Non-cash share-based compensation expense, consisting of expense for share options, restricted share units ("RSUs"), performance share options, and the Employee Share Purchase Plan ("ESPP"), was classified in the condensed consolidated statements of operations and comprehensive loss as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Research and development expenses |  | $ | 7,164 |  |  | $ | 2,184 |  |  | $ | 35,526 |  |  | $ | 6,882 |
General and administrative expenses |  | 4,996 |  |  | 2,272 |  |  | 23,743 |  |  | 6,034 |
Total non-cash share-based compensation expense |  | $ | 12,160 |  |  | $ | 4,456 |  |  | $ | 59,269 |  |  | $ | 12,916 |
Schedule of stock option activity | The following table is a summary of the Company's share option activity for the nine months ended September 30, 2024:
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
|  |  |  |  |  | (in years) |  |
Outstanding as of December 31, 2023 |  | 11,379,429 |  | $ | 11.48 |  |  |  |  |
Granted |  | 2,503,161 |  | $ | 42.04 |  |  |  |  |
Exercised |  | (684,124) |  | $ | 9.49 |  |  |  |  |
Forfeited |  | (104,448) |  | $ | 20.53 |  |  |  |  |
Outstanding as of September 30, 2024 |  | 13,094,018 |  | $ | 17.36 |  |  | 8.44 |  | $ | 427,203 |
Options exercisable as of September 30, 2024 |  | 5,192,055 |  | $ | 13.72 |  |  | 8.30 |  | $ | 188,273 |
Vested and expected to vest as of September 30, 2024 |  | 13,094,018 |  | $ | 17.36 |  |  | 8.44 |  | $ | 427,203 |
Schedule of RSU activity | The following table is a summary of the RSU activity for the nine months ended September 30, 2024:
|  | Number of shares |  | Weighted Average Grant Date Fair Value
Unvested as of December 31, 2023 |  | — |  |  | $ | — |
Granted |  | 381,011 |  |  | $ | 41.88 |
Forfeited |  | (6,045) |  |  | $ | 41.93 |
Vested |  | (95,309) |  |  | $ | 41.88 |
Unvested as of September 30, 2024 |  | 279,657 |  |  | $ | 41.87 |

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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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