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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 Share-based Compensation Expense | Stock-based compensation expense recognized for all equity awards has been reported in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Research and development expense |  | $ | 664 |  |  | $ | 913 |  |  | $ | 1,327 |  |  | $ | 1,824 |
Selling, general and administrative expense |  |  | 4,707 |  |  |  | 2,452 |  |  |  | 9,342 |  |  |  | 4,856 |
Total |  | $ | 5,371 |  |  | $ | 3,365 |  |  | $ | 10,669 |  |  | $ | 6,680 |
Summary of Activity Related to Stock Option | A summary of the Company’s stock option activity for the six months ended June 30, 2025 is as follows:
|  |  |  |  |  |  |  | Weighted- |  |  |  |
|  | Shares |  |  | Weighted- |  |  | Average |  |  | Aggregate |
|  | Subject to |  |  | Average |  |  | Remaining |  |  | Intrinsic |
|  | Options |  |  | Exercise |  |  | Contractual |  |  | Value |
|  | Outstanding |  |  | Price |  |  | Life (Years) |  |  | (in thousands) |
Outstanding at December 31, 2024 |  |  | 15,161,180 |  |  | $ | 6.63 |  |  |  |  |  |  |
Granted |  |  | 3,158,150 |  |  | $ | 11.54 |  |  |  |  |  |  |
Exercised |  |  | (630,187 | ) |  | $ | 4.07 |  |  |  |  |  |  |
Forfeited |  |  | (417,153 | ) |  | $ | 11.23 |  |  |  |  |  |  |
Outstanding at June 30, 2025 |  |  | 17,271,990 |  |  | $ | 7.51 |  |  |  | 7.7 |  |  | $ | 174,541 |
Exercisable at June 30, 2025 |  |  | 9,540,712 |  |  | $ | 5.72 |  |  |  | 6.8 |  |  | $ | 114,815 |
Summary of Fair Value of Each Option Grant Estimated Throughout Year Using Black-Scholes Option-pricing Model | The fair value of stock options granted was estimated using a Black-Scholes option-pricing model (“Black-Scholes”) with the following weighted-average assumptions:
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Expected term (in years) |  |  | 6.0 |  |  |  | 6.0 |
Expected volatility |  |  | 86.7 | % |  |  | 94.0 | %
Risk-free interest rate |  |  | 4.3 | % |  |  | 4.0 | %
Expected dividend yield |  |  | — |  |  |  | — |

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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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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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