XML 43 R29.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Equity Incentive Plan (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table presents stock option activity under the Plans for the period:
|  | Number of Shares |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted- Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Balances as of December 31, 2023 |  |  | 9,208,970 |  |  | $ | 10.31 |  |  |  | 7.53 |  |  | $ | 2,930 |
Stock options granted |  |  | 6,749,824 |  |  | $ | 5.73 |  |  |  |  |  |  |
Stock options exercised |  |  | (382,122 | ) |  | $ | 3.22 |  |  |  |  |  |  |
Stock options forfeited |  |  | (981,952 | ) |  | $ | 11.55 |  |  |  |  |  |  |
Balances as of December 31, 2024 |  |  | 14,594,720 |  |  | $ | 8.29 |  |  |  | 7.94 |  |  | $ | 4,059 |
Vested and Exercisable as of December 31, 2024 |  |  | 6,813,637 |  |  | $ | 11.06 |  |  |  | 6.58 |  |  | $ | 2,194 |
Summary of RSU Activity under Equity Incentive Plan | A summary of RSU activity under the equity incentive plan and related information is as follows:
|  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value Per Share |
Unvested as of December 31, 2023 |  |  | 495,579 |  |  | $ | 5.69 |
Granted |  |  | 602,600 |  |  |  | 5.13 |
Vested |  |  | (197,177 | ) |  |  | 5.85 |
Cancelled |  |  | (130,974 | ) |  |  | 5.29 |
Unvested as of December 31, 2024 |  |  | 770,028 |  |  | $ | 5.28 |
Summary of Stock-Based Compensation Expense | The total stock-based compensation expense recognized was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Research and development |  | $ | 9,670 |  |  | $ | 8,878 |
General and administrative |  |  | 9,763 |  |  |  | 9,305 |
Total stock-based compensation expense |  | $ | 19,433 |  |  | $ | 18,183 |
Summary of Fair Value of Each Stock Option Issued Estimated on the Date of Grant Using the Black-Scholes Option Pricing Model | The fair value of each stock option issued was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:
|  | Year Ended December 31,
|  | 2024 |  | 2023
Expected term (in years) |  | 5.50 - 6.08 |  | 5.50 - 6.08
Expected volatility |  | 95.90% - 99.80% |  | 81.20% - 82.40%
Risk-free interest rate |  | 3.48% - 4.65% |  | 3.47% - 4.85%
Dividend yield |  | — |  | —

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + 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)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

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