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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity considering the conversion of BC Options to Gyre options to purchase shares of Gyre Common Stock upon completion of the GNI USA Contributions:

	Number of Shares Underlying Outstanding Options				Weighted-Average Exercise Price				Weighted-Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value (Thousands)
Outstanding at December 31, 2022		17,036,941			$	0.75				5.1			$	12,667
Forfeited		(18,936	)		$	0.75
Deemed issuance of options to former stockholders of Catalyst upon the GNI USA Contributions		435,916			$	20.10
Granted		838,686			$	6.93
Exercised		(12,059	)		$	13.86
Outstanding at December 31, 2023		18,280,548			$	1.49				6.9			$	444,197
Exercisable at December 31, 2023		18,262,686			$	1.48				6.9			$	19,433

Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options Granted

The fair value of employee stock options granted was estimated using the following weighted-average assumptions:

		Year Ended December 31,
		2023
Expected volatility (%)		84.30-84.30
Risk-free interest rate (%)		3.82-4.77
Expected option life (in years)		5.0-5.8
Expected dividend yield (%)			—
Weighted average share price of the Company (USD per share)		$	6.93

Summary of Stock-Based Compensation Recognized

Total stock-based compensation recognized was as follows (in thousands):

		Year Ended December 31,
		2023				2022
Cost of revenues		$	52			$	249
Selling and marketing			344				1,643
Research and development			481				2,301
General and administrative			6,404				9,173
Total		$	7,281			$	13,366

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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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-Topic 718
-SubTopic 10
-Section 50
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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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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.

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