XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.2

Stock-Based Compensation

6 Months Ended

Jun. 30, 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		4,450,300	​	$	6.53	​	​	​	​	​
Cancelled or forfeited		(74,905)	​	$	9.97	​	​	​	​	​
Expired	​	(473)	​	$	682.65	​	​	​	​	​
Outstanding at June 30, 2025	​	11,225,811	​	$	10.89	​	8.56	​	$	447
Vested and exercisable at June 30, 2025	​	3,570,804	​	$	14.39	​	7.22	​	$	302
Vested and expected to vest at June 30, 2025		11,225,811	​	$	10.89	​	8.56	​	$	447

​

There were no options exercised during the three and six months ended June 30, 2025. The intrinsic value of stock options exercised during the three and six months ended June 30, 2024 was $0.1 million and $0.2 million, respectively. The total grant date fair value of stock options vested for the three and six months ended June 30, 2025 was $3.9 million and $12.2 million, respectively. The total grant date fair value of stock options vested for the three and six months ended June 30, 2024 was $2.5 million and $5.6 million, respectively. The weighted-average grant date fair value per share of options granted for the three and six months ended June 30, 2025 was $3.75 and $4.56, respectively. The weighted-average grant date fair value per share of options granted for the three and six months ended June 30, 2024 was $6.64 and $9.95, respectively.

As of June 30, 2025, the total unrecognized compensation expense related to unvested stock option awards was $44.8 million. The Company expects to recognize that cost over a weighted-average period of approximately 2.8 years.

Stock-Based Compensation Expense

During the three and six months ended June 30, 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 June 30,					​	Six Months Ended June 30,
​		2025			2024			2025			2024
General and administrative	​	$	2,729	​	$	2,531	​	$	5,266	​	$	4,581
Research and development	​	​	1,622	​	​	920	​		2,924	​		1,624
Total	​	$	4,351	​	$	3,451	​	$	8,190	​	$	6,205

​

No related tax benefits were recognized during the three and six months ended June 30, 2025 and 2024.

X

- Definition

The entire disclosure for share-based payment arrangement.

+ References

Reference 1: 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

Reference 2: 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 3: 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 4: 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 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/718/tableOfContent

Reference 6: 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

+ 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