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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock Awards Granted | The following table summarizes the Company’s stock awards granted under all equity incentive and inducement plans for each of the periods indicated:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
| Grants |  | Weighted Average Grant Date Fair Value |  | Grants |  | Weighted Average Grant Date Fair Value |  |  |  |  |  |  |  |
Stock options | 1,897,917 |  | $ | 21.45 |  |  | 1,044,658 |  | $ | 26.50 |  |  |  |  |  |  |  |  |
Stock-Based Compensation Expense | Total stock-based compensation expense recognized from the Company’s equity incentive plans, 2018 Plan, 2016 ESPP and Parapyre Option Obligation during the periods presented was as follows (in thousands):
| Three Months Ended March 31, |  |  |  |
| 2025 |  | 2024 |  |  |  |  |  |  |  |
Research and development (1) | $ | 3,512 |  |  | $ | 6,857 |  |  |  |  |  |  |  |  |
General and administrative | 5,347 |  |  | 6,978 |  |  |  |  |  |  |  |  |
Total stock-based compensation expense (2) | $ | 8,859 |  |  | $ | 13,835 |  |  |  |  |  |  |  |  |
(1) For the three months ended March 31, 2024, $5.4 million was recognized as stock compensation expense related to the Parapyre Option Obligation. (2) Of the total $13.8 million of stock-based compensation expense for the three months ended March 31, 2024, $2.9 million is related to legacy Aeglea employees and directors who had been terminated as of the end of the period.
Assumptions used to Estimate the Fair Value of Stock Options Granted | The following table summarizes the weighted-average Black-Scholes option pricing model assumptions used to estimate the fair value of stock options granted under the Company's equity incentive plans, and the shares purchasable under the 2016 ESPP during the periods presented:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Stock Options Granted |  |  |  |  |  |  |
Expected term (in years) | 6.03 |  | 6.03 |  |  |  |
Expected volatility | 76% |  | 105% |  |  |  |
Risk-free interest | 4.46% |  | 3.88% |  |  |  |
Dividend yield | — |  | — |  |  |  |
2016 ESPP |  |  |  |  |  |  |
Expected term (in years) | 0.50 |  | 0.50 |  |  |  |
Expected volatility | 69% |  | 98% |  |  |  |
Risk-free interest | 4.23% |  | 5.31% |  |  |  |
Dividend yield | — |  | — |  |  |  |

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