XML 28 R18.htm IDEA: XBRL DOCUMENT v3.25.1

Stock-Based Compensation

3 Months Ended

Mar. 31, 2025

Stock-Based Compensation

Stock-Based Compensation

10.Stock-Based Compensation

Stock Option Activity

A summary of the Company’s stock option activity and related information follows:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​		​	Weighted	​	​	​
​	​	​	​	​		​	Average	​	​	​
​	​	​	​	Weighted-		​	Remaining	​	Aggregate
​	​	​	​	Average		​	Contractual	​	Intrinsic Value
​		Shares		Exercise Price			Term (years)		(in thousands)
Outstanding at December 31, 2024		6,850,889	​	$	13.75		8.31	​	$	2,946
Granted		4,056,600	​	$	6.63	​	​	​	​	​
Cancelled or forfeited		(50,182)	​	$	10.14	​	​	​	​	​
Expired	​	(289)	​	$	650.85	​	​	​	​	​
Outstanding at March 31, 2025	​	10,857,018	​	$	11.09	​	8.76	​	$	391
Vested and exercisable at March 31, 2025	​	3,057,331	​	$	14.91	​	7.28	​	$	281
Vested and expected to vest at March 31, 2025		10,857,018	​	$	11.09	​	8.76	​	$	391

​

There were no options exercised in the three months ended March 31, 2025. The intrinsic value of stock options exercised in the three months ended March 31, 2024 was $0.1 million. The total grant date fair value of stock options vested for the three months ended March 31, 2025 and 2024 was $8.3 million and $3.2 million, respectively. The weighted-average grant date fair value per share of options granted for the three months ended March 31, 2025 and 2024 was $4.64 and $10.40, respectively.

At March 31, 2025, the total unrecognized compensation expense related to unvested stock option awards was $47.8 million. The Company expects to recognize that cost over a weighted-average period of approximately 3.1 years.

Stock-Based Compensation Expense

During the three months ended March 31, 2025 and 2024, 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):

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​		2025			2024
General and administrative	​	$	2,537	​	$	2,050
Research and development	​		1,302	​		704
Total	​	$	3,839	​	$	2,754

​

No related tax benefits were recognized during the three months ended March 31, 2025 and 2024.

X

- Definition

The entire disclosure for share-based payment arrangement.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/718/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration