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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of stock options and performance-based stock options under 2021 LTPIP, 2018 Plan and 2015 Plan. | Stock option activity, including stock options and performance-based stock options under the 2021 Long-Term Performance Incentive Plan (“2021 LTPIP”), 2018 Plan and 2015 Plan is summarized as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at December 31, 2023 |  |  | 17,601,466 |  |  | $ | 43.86 |  |  |  | 7.29 |  |  | $ | 933 |
Granted |  |  | 4,173,150 |  |  | $ | 2.56 |  |  |  |  |  |  |
Exercised |  |  | (8,333 | ) |  | $ | 4.54 |  |  |  |  |  |  |
Forfeited or canceled |  |  | (1,105,760 | ) |  | $ | 31.29 |  |  |  |  |  |  |
Outstanding at September 30, 2024 |  |  | 20,660,523 |  |  | $ | 36.21 |  |  |  | 7.10 |  |  | $ | 1,190 |
Summary of Restricted Shares | Restricted share activity, including restricted stock awards, restricted stock units, and performance-based restricted stock units, under the 2018 Plan is summarized as follows:
|  | Number of Restricted Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2023 |  |  | 164,817 |  |  | $ | 49.87 |
Granted |  |  | 64,200 |  |  | $ | 3.02 |
Vested |  |  | (79,346 | ) |  | $ | 60.15 |
Canceled |  |  | (27,322 | ) |  | $ | 44.73 |
Unvested at September 30, 2024 |  |  | 122,349 |  |  | $ | 19.77 |
Summary of Stock-based Compensation for Options and Restricted Shares Classified in Condensed Consolidated Statements of Operations and Comprehensive Loss | Stock-based compensation is classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Research and development |  | $ | 6,295 |  |  | $ | 2,733 |  |  | $ | 23,936 |  |  | $ | 32,093 |
General and administrative |  |  | 8,515 |  |  |  | 11,213 |  |  |  | 27,658 |  |  |  | 33,634 |
Total stock-based compensation |  | $ | 14,810 |  |  | $ | 13,946 |  |  | $ | 51,594 |  |  | $ | 65,727 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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 Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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