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Stock-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Research and development | $ | 863 |  |  | $ | 2,125 |  |  | $ | 1,770 |  |  | $ | 5,033 |
General and administrative | 1,801 |  |  | 2,885 |  |  | 3,873 |  |  | 7,562 |
Total stock-based compensation expense | $ | 2,664 |  |  | $ | 5,010 |  |  | $ | 5,643 |  |  | $ | 12,595 |
Schedule of Changes in Unvested Restricted Stock | The following is a summary of restricted stock unit awards activity for the six months ended June 30, 2025:
| Shares |  | Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock unit awards as of December 31, 2024 | 2,326,523 |  | $ | 9.78 |
Issued | 1,560 |  | $ | 1.26 |
Vested | (371,498) |  | $ | 10.42 |
Forfeited | (1,033,046) |  | $ | 10.11 |
Unvested restricted stock unit awards as of June 30, 2025 | 923,539 |  | $ | 9.15 |
Schedule of Stock Option Activity | The following is a summary of stock option activity for the six months ended June 30, 2025:
| Shares |  | Weighted Average Exercise Price |  | Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
Outstanding at December 31, 2024 | 7,656,010 |  | $ | 14.70 |  |  | 7.19 |  | $ | — |
Granted | 5,581,038 |  |  | $ | 1.71 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  |
Cancelled | (2,791,231) |  |  | $ | 11.85 |  |  |  |  |
Outstanding at June 30, 2025 | 10,445,817 |  | $ | 8.54 |  |  | 7.71 |  | $ | 2,505 |
Exercisable at June 30, 2025 | 4,026,696 |  | $ | 16.59 |  |  | 5.23 |  | $ | 120 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -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 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. + 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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