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Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of The Stock Option Activity

The following table summarizes the stock option activity under the 2019 Plan and 2024 Plan during the year ended December 31, 2024 (in thousands except share, contractual term and per share amounts):

		Number of Shares Underlying Outstanding Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding as of January 1, 2024			1,002,485			$	3.11				8.2			$	2,276
Options granted			982,980				18.25
Options exercised			(335,894	)			2.54								5,585
Options forfeited and expired			(115,210	)			8.98
Outstanding as of December 31, 2024			1,534,361			$	12.49				8.5			$	51,805
Options vested and exercisable as of December 31, 2024			364,472			$	2.80				6.6			$	15,809
Options vested and expected to vest as of December 31, 2024			1,534,361			$	12.49				8.5			$	51,805

The following table summarizes the stock option activity for the options that were assumed from AVROBIO upon the Merger closing during the year ended December 31, 2024 (in thousands except share, contractual term and per share amounts):

		Number of Shares Underlying Outstanding Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Options assumed from AVROBIO upon Merger closing			365,428			$	89.92				—			$	—
Options exercised			(52,833	)			14.61								1,344
Options forfeited and expired			(220,115	)			136.24
Outstanding as of December 31, 2024			92,480			$	22.69				1.1			$	2,903
Options vested and exercisable as of December 31, 2024			92,480			$	22.69				1.1			$	2,903
Options vested and expected to vest as of December 31, 2024			92,480			$	22.69				1.1			$	2,903

Summary of Fair Values of the Options Granted

The table below discloses assumptions for the fair value of options granted:

		Year Ended December 31,
		2024				2023
Fair value per share of underlying common stock		$	16.09 - $51.28			$	2.50 - $4.21
Expected term (in years)			6.00 - 6.25				5.81 - 6.04
Expected volatility			100.0% - 104.0%				93.4% - 111.2%
Risk-free interest rate			4.10% - 4.26%				3.64% - 4.90%
Expected dividend yield			0%				0%

Summary of Restricted Stock Activity

Activity with respect to the Company’s restricted stock units during the year ended December 31, 2024 was as follows (in thousands, except share, contractual term, and per share data):

		Outstanding RSUs
		Number of Shares Underlying Outstanding Units				Weighted- Average Grant Date Fair Value per Unit				Weighted- Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding as of January 1, 2024			—			$	—				—			$	—
Restricted stock units granted			26,337				44.62								—
Restricted stock units forfeited			(725	)			34.51								—
Outstanding as of December 31, 2024			25,612			$	44.90				1.9			$	1,183
Unvested and expected to vest as of December 31, 2024			25,612			$	44.90				1.9			$	1,183

The following table summarizes restricted common stock activity during the year ended December 31, 2024:

		Number of Shares
Unvested restricted stock awards as of January 1, 2024			18,968
Early exercise of options			6,859
Vested			(25,827	)
Unvested restricted stock awards as of December 31, 2024			—

Summary of Stock Based Compensation Expense Regarding its Employees and Nonemployees

The following table is a summary of stock-based compensation expense by function recognized (in thousands):

		Year Ended December 31,
		2024				2023
General and administrative		$	2,309			$	705
Research and development			1,182				416
Total stock-based compensation		$	3,491			$	1,121

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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.

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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.

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