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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity for the six months ended June 30, 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 |  |  | 2,122,480 |  |  |  | 15.01 |  |  |  |  |  |  |
Exercised |  |  | (3,483 | ) |  |  | 1.80 |  |  |  |  |  |  |
Forfeited |  |  | (190,364 | ) |  |  | 12.40 |  |  |  |  |  |  |
Expired |  |  | — |  |  |  | — |  |  |  |  |  |  |
Options outstanding at June 30, 2025 |  |  | 6,118,379 |  |  | $ | 11.68 |  |  |  | 8.99 |  |  | $ | 16,370 |
Options vested and exercisable at June 30, 2025 |  |  | 1,437,587 |  |  |  | 8.26 |  |  |  | 8.49 |  |  |  | 6,731 |
Options vested and expected to vest at June 30, 2025 |  |  | 6,118,379 |  |  | $ | 11.68 |  |  |  | 8.99 |  |  | $ | 16,370 |
Summary of Restricted Stock Awards Grant Activity | The following table summarizes the Company’s service-based RSA grant activity for the six months ended June 30, 2025:
|  | RSAs |  |  | Weighted- Average Grant Date Fair Value |
Unvested shares at December 31, 2024 |  |  | 976,596 |  |  | $ | 3.69 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (261,364 | ) |  |  | 3.55 |
Forfeited |  |  | (44,792 | ) |  |  | 2.92 |
Unvested shares at June 30, 2025 |  |  | 670,440 |  |  | $ | 3.80 |
Summary of Performance-based RSA Grant Activity | The following table summarizes the Company’s performance-based RSA grant activity for the six months ended June 30, 2025:
|  | RSAs |  |  | Weighted- Average Grant Date Fair Value |
Unvested shares at December 31, 2024 |  |  | 444,235 |  |  | $ | 3.63 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (98,766 | ) |  |  | 3.66 |
Forfeited |  |  | (41,216 | ) |  |  | 2.92 |
Unvested shares at June 30, 2025 |  |  | 304,253 |  |  | $ | 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 June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
General and Administrative |  | $ | 2,780 |  |  | $ | 1,351 |  |  | $ | 5,499 |  |  | $ | 2,120 |
Research and Development |  |  | 1,609 |  |  |  | 1,003 |  |  |  | 2,930 |  |  |  | 1,725 |
|  | $ | 4,389 |  |  | $ | 2,354 |  |  | $ | 8,429 |  |  | $ | 3,845 |

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