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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the three months ended March 31, 2025:

		Number of Shares				Weighted- Average Exercise Price per share				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2024			4,189,746			$	10.02				9.19			$	34,324
Granted			1,629,880				16.55
Exercised			(3,240	)			1.80
Forfeited			(190,364	)			12.40
Expired			—				—
Options outstanding at March 31, 2025			5,626,022			$	11.83				9.16			$	12,185,298
Options vested and exercisable at March 31, 2025			914,448				5.43				8.48				4,646,260
Options vested and expected to vest at March 31, 2025			5,626,022			$	11.83				9.16			$	12,185,298

Summary of Restricted Stock Awards Grant Activity

The following table summarizes the Company’s service-based RSA grant activity for the three months ended March 31, 2025:

		RSAs				Weighted- Average Grant Date Fair Value
Unvested shares at December 31, 2024			976,596				3.69
Granted			—				—
Vested			(135,164	)			3.53
Forfeited			(44,792	)			2.92
Unvested shares at March 31, 2025			796,640			$	3.77

Summary of Performance-based RSA Grant Activity

The following table summarizes the Company’s performance-based RSA grant activity for the three months ended March 31, 2025:

		RSAs				Weighted- Average Grant Date Fair Value
Unvested shares at December 31, 2024			444,235			$	3.63
Granted			—				—
Vested			(53,130	)			3.61
Forfeited			(41,216	)			2.92
Unvested shares at March 31, 2025			349,889			$	3.72

Summary of Share-based Compensation Expense

The following table below summarizes the classification of the Company’s stock-based compensation expense related to stock options and restricted common stock awards in the condensed consolidated statements of operations and comprehensive loss (in thousands):

		For the Three Months Ended March 31,
		2025				2024
General and Administrative		$	2,719			$	769
Research and Development			1,321				722
		$	4,040			$	1,491

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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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.

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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.

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Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

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