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Equity Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity during the nine months ended September 30, 2024:
Shares Subject to
Options Outstanding
Weighted-
Average
 
SharesWeighted-
Average
Exercise
Price
Remaining
Contractual
Life
(Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding as of December 31, 202323,626,115 $2.52 7.9$369 
Options granted12,602,228 $0.96 
Options exercised— $— 
Options forfeited/cancelled(1,132,943)$1.85 
Outstanding as of September 30, 202435,095,400 $1.98 7.7$1,212 
Options vested and expected to vest as of September 30, 202435,095,400 $1.98 7.7$1,212 
Options exercisable as of September 30, 202412,484,553 $3.55 5.9$19 
Schedule of Restricted Stock Activity
The summary of the Company’s restricted stock activity during the nine months ended September 30, 2024 is as follows:
Number of
Restricted
Stock Units
Outstanding
Weighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 2023427,698 $10.92 
Granted— — 
Vested(427,698)10.92 
Forfeited— — 
Nonvested at September 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 September 30,Nine months ended September 30,
2024202320242023
Research and development$2,329 $3,250 $7,752 $12,661 
General and administrative2,513 2,912 7,902 9,825 
Total stock-based compensation expense$4,842 $6,162 $15,654 $22,486