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Stock-based Compensation (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Research and development			$	634					$	2,048					$	2,404					$	7,081
General and administrative			1,594						2,754						5,467						10,316
Total stock-based compensation expense			$	2,228					$	4,802					$	7,871					$	17,397

Schedule of Changes in Unvested Restricted Stock

The following is a summary of restricted stock unit awards activity for the nine months ended September 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			(436,186)						$	10.30
Forfeited			(1,239,630)						$	9.99
Unvested restricted stock unit awards as of September 30, 2025			652,267						$	9.12

Schedule of Stock Option Activity

The following is a summary of stock option activity for the nine months ended September 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			5,732,792						$	1.74
Exercised			(12,130)						$	1.72
Cancelled			(4,395,961)						$	9.91
Outstanding at September 30, 2025			8,980,711						$	8.81					7.44						$	7,553
Exercisable at September 30, 2025			3,941,705						$	15.73					5.41						$	818

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Name Accounting Standards Codification
-Section 50
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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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