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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense Recognized in Statements of Operations

The Company recognized total stock-based compensation expense for non-employees and employees in its statements of operations as follows (in thousands):

			Three Months Ended September 30,
			2024						2023
General and administrative			$	1,469					$	398
Research and development			562						121
Total			$	2,031					$	519
			Nine Months Ended September 30,
			2024						2023
General and administrative			$	3,172					$	924
Research and development			1,044						210
Total			$	4,216					$	1,134

Schedule of RSA Award Activity

A summary of RSA award activity for non-employees and employees of the Company is as follows:

			Number of Shares						Weighted- Average Grant Date Fair Value
Balance as of December 31, 2023			47,199						$	4.07
Granted			—						—
Vested			(40,252)						4.07
Repurchased/forfeited			—						—
Balance as of September 30, 2024			6,947						$	4.07

Schedule of Stock Option Activity

A summary of options award activity for non-employees and employees of the Company is as follows:

			Shares						Weighted- Average Exercise Price						Weighted Average – Remaining Contractual Life (years)						Aggregate Intrinsic Value (1) (in thousands)
Outstanding as of December 31, 2023			4,850,669						$	4.53
Granted			3,652,807						9.13
Exercised			(393,216)						3.97
Canceled			(117,494)						4.01
Outstanding as of September 30, 2024			7,992,766						6.67						9.3						$	133,789
Exercisable as of September 30, 2024			897,774						$	4.53					8.5						$	16,951
Exercisable and expected to vest as of September 30, 2024			7,992,766												9.3

(1)The aggregate intrinsic values is calculated as the difference between the exercise price of the underlying options and the fair value of the Company’s common stock on September 30, 2024 for the options that were in the money.

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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.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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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.

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-Name Accounting Standards Codification
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-Subparagraph (d)
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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.

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