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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Awards Granted Under all Equity Incentive and Inducement Plans | 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 September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| Grants |  | Weighted Average Grant Date Fair Value |  | Grants |  | Weighted Average Grant Date Fair Value |  | Grants |  | Weighted Average Grant Date Fair Value |  | Grants |  | Weighted Average Grant Date Fair Value
Stock options | 213,900 |  | $ | 15.88 |  |  | 425,500 |  | $ | 25.74 |  |  | 2,539,617 |  | $ | 19.94 |  |  | 1,857,853 |  | $ | 28.40 |
Schedule of Total 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 September 30, |  | Nine Months Ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Research and development (1) | $ | 4,248 |  |  | $ | 8,555 |  |  | $ | 11,860 |  |  | $ | 18,863 |  |  |  |  |
General and administrative | 5,318 |  |  | 4,545 |  |  | 15,943 |  |  | 16,754 |  |  |  |  |
Total stock-based compensation expense (2) | $ | 9,566 |  |  | $ | 13,100 |  |  | $ | 27,803 |  |  | $ | 35,617 |  |  |  |  |
(1) For the three and nine months ended September 30, 2024, $6.1 million and $13.0 million, respectively was recognized as stock compensation expense related to the Parapyre Option Obligation. (2) Of the total $13.1 million and $35.6 million of stock-based compensation expense for the three and nine months ended September 30, 2024, respectively, $0.1 million and $3.6 million is related to legacy Aeglea employees and directors who had been terminated as of the end of the period, respectively.
Schedule of Weighted-Average Black-Scholes Option Pricing Model 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 purchased under the 2016 ESPP during the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Stock Options Granted |  |  |  |  |  |  |
Expected term (in years) | 6.08 |  | 6.08 |  | 5.98 |  | 6.02
Expected volatility | 75% |  | 105% |  | 76% |  | 105%
Risk-free interest | 3.92% |  | 4.13% |  | 4.34% |  | 4.03%
Dividend yield | — |  | — |  | — |  | —
2016 ESPP |  |  |  |  |  |  |
Expected term (in years) | 0.38 |  | 0.50 |  | 0.44 |  | 0.50
Expected volatility | 72% |  | 71% |  | 70% |  | 83%
Risk-free interest | 4.21% |  | 5.02% |  | 4.22% |  | 5.15%
Dividend yield | — |  | — |  | — |  | —

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