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Equity Incentive Plans (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity during the six months ended June 30, 2024:
| Shares Subject to Options Outstanding |  | Weighted- Average |  |
| Shares |  | Weighted- Average Exercise Price |  | Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
|  |  |  |  |  |  | (in thousands)
Outstanding as of December 31, 2023 | 23,626,115 |  |  | $ | 2.52 |  |  | 7.9 |  | $ | 369 |
Options granted | 12,257,228 |  |  | $ | 0.96 |  |  |  |  |
Options exercised | — |  |  | $ | — |  |  |  |  |
Options forfeited/cancelled | (692,668) |  |  | $ | 1.64 |  |  |  |  |
Outstanding as of June 30, 2024 | 35,190,675 |  |  | $ | 1.99 |  |  | 8.1 |  | $ | 580 |
Options vested and expected to vest as of June 30, 2024 | 35,190,675 |  |  | $ | 1.99 |  |  | 8.1 |  | $ | 580 |
Options exercisable as of June 30, 2024 | 11,739,966 |  |  | $ | 3.64 |  |  | 6.2 |  | $ | 9 |
Schedule of Restricted Stock Activity | The summary of the Company’s restricted stock activity during the six months ended June 30, 2024 is as follows:
| Number of Restricted Stock Units Outstanding |  | Weighted- Average Grant Date Fair Value
Nonvested at December 31, 2023 | 427,698 |  |  | $ | 10.92 |
Granted | — |  |  | — |
Vested | (427,698) |  |  | 10.92 |
Forfeited | — |  |  | — |
Nonvested at June 30, 2024 | — |  |  | $ | — |
Schedule of Stock-Based Compensation Expense Reported in Condensed Consolidated Statements of Operations | Stock-based compensation expense has been reported in the Company’s condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
| Three months ended June 30, |  | Six months ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |
Research and development | $ | 2,495 |  |  | $ | 4,721 |  |  | $ | 5,423 |  |  | $ | 9,411 |  |  |  |  |
General and administrative | 2,506 |  |  | 3,476 |  |  | 5,389 |  |  | 6,913 |  |  |  |  |
Total stock-based compensation expense | $ | 5,001 |  |  | $ | 8,197 |  |  | $ | 10,812 |  |  | $ | 16,324 |  |  |  |  |

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