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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | Stock Option Activity
|  | Outstanding Stock Options |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted- Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value |
|  | (in thousands, except per share amounts and years) |
Outstanding as of December 31, 2023 |  |  | 13,783 |  |  | $ | 6.39 |  |  |  | 8.7 |  |  | $ | 146,966 |
Granted |  |  | 2,841 |  |  |  | 17.43 |  |  |  |  |  |  |
Exercised |  |  | (525 | ) |  |  | 3.51 |  |  |  |  |  |  |
Canceled and forfeited |  |  | (884 | ) |  |  | 5.93 |  |  |  |  |  |  |
Expired |  |  | (85 | ) |  |  | 3.37 |  |  |  |  |  |  |
Outstanding as of March 31, 2024 |  |  | 15,130 |  |  | $ | 8.60 |  |  |  | 8.8 |  |  | $ | 90,736 |
Vested as of March 31, 2024 |  |  | 3,667 |  |  | $ | 4.43 |  |  |  | 7.6 |  |  | $ | 34,256 |
Exercisable as of March 31, 2024 |  |  | 3,659 |  |  | $ | 4.44 |  |  |  | 7.6 |  |  | $ | 34,145 |
Summary of Restricted Stock Activity | The following table summarizes the Company’s restricted stock activity:
|  | Shares of Restricted Common Stock |  |  | Weighted- Average Grant Date Fair Value Per Share |  |  | Shares of Restricted Stock Units |  |  | Weighted- Average Grant Date Fair Value Per Share |
|  | (in thousands, except per share amounts) |
Outstanding and unvested as of December 31, 2023 |  |  | 840 |  |  | $ | 6.11 |  |  |  | 353 |  |  | $ | 17.00 |
Granted |  |  | — |  |  | — |  |  |  | 1,165 |  |  |  | 18.07 |
Vested |  |  | (190 | ) |  |  | 0.26 |  |  | — |  |  | — |
Forfeited and canceled |  |  | — |  |  | — |  |  |  | (10 | ) |  |  | 18.07 |
Outstanding and unvested as of March 31, 2024 |  |  | 650 |  |  | $ | 7.81 |  |  |  | 1,508 |  |  | $ | 17.83 |
Summary of Stock-Based Compensation Expense Recognized | The following table summarizes total stock-based compensation included in the Company’s condensed consolidated statements of operations and comprehensive loss:
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Research and development |  | $ | 2,812 |  |  | $ | 1,403 |
General and administrative |  |  | 4,561 |  |  |  | 792 |
Total stock-based compensation |  | $ | 7,373 |  |  | $ | 2,195 |

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