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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Stock-Based Compensation |
Schedule of stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted- | ​ | Average | ​ | Aggregate
​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Intrinsic
​ | ​ | ​ | ​ | Exercise | ​ | Contractual | ​ | Value
​ |  | Shares |  | Price |  | Term (years) |  | (in thousands)
Outstanding at December 31, 2023 | ​ | 3,553,969 | ​ | $ | 13.59 | ​ | 8.39 | ​ | $ | 1,912
Granted |  | 3,644,675 | ​ | $ | 13.90 | ​ | ​ | ​ | ​ | ​
Exercised | ​ | (36,539) | ​ | $ | 5.21 | ​ | ​ | ​ | ​ | ​
Cancelled or forfeited |  | (309,544) | ​ | $ | 12.52 | ​ | ​ | ​ | ​ | ​
Expired | ​ | (1,672) | ​ | $ | 414.04 | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2024 |  | 6,850,889 | ​ | $ | 13.75 |  | 8.31 | ​ | $ | 2,946
Vested and exercisable at December 31, 2024 |  | 2,206,580 | ​ | $ | 15.15 |  | 7.05 | ​ | $ | 1,878
Vested and expected to vest at December 31, 2024 | ​ | 6,850,889 | ​ | $ | 13.75 | ​ | 8.31 | ​ | $ | 2,946
​
Schedule of stock-based compensation expense | During the years ended December 31, 2024 and 2023, the Company recorded stock-based compensation expense for employee and non-employee stock options and restricted stock, which was allocated as follows in the statements of operations (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ |  | 2024 |  | 2023
Research and development | ​ | $ | 3,782 | ​ | $ | 1,304
General and administrative | ​ |  | 9,260 | ​ |  | 5,010
Total | ​ | $ | 13,042 | ​ | $ | 6,314
Schedule of weighted-average expected volatility | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023
Weighted-average expected volatility |  | 74.32%-76.4% | ​ | 65.86%-73.68%
Expected term (in years) |  | 5.5-6.25 | ​ | 5.5-6.25
Risk-free interest rate |  | 3.53%-4.59% | ​ | 3.42%-4.67%
Expected dividend yield |  | 0% | ​ | 0%
​

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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 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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