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Stock-Based Compensation (Tables)

3 Months Ended

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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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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