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Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense by classification included within the consolidated statements of operations and comprehensive loss, including $1.5 million recognized as stock-based compensation expense upon the achievement of a technical milestone by Ginkgo Bioworks Holdings, Inc., or Ginkgo, during the year ended December 31, 2023 as described in Note 16, was as follows (in thousands):

												Year Ended December 31,
																								2024						2023
Research and development																								$	3,217					$	12,985
General and administrative																								3,365						12,793
Total stock-based compensation expense																								$	6,582					$	25,778

Schedule of Weighted Average Assumptions Used

The fair value of the stock options assumed in connection with the Merger was calculated using a Black-Scholes option pricing model based on the following weighted-average assumptions:

			Common Stock						Series A Preferred Stock
Risk-free interest rate			4.83		%				4.92		%
Dividend yield			—						—
Expected term			3.59						3.29
Expected volatility			83.77		%				83.87		%
Weighted-average fair value of common stock or Series A Preferred Stock, as applicable			$	12.00					$	403.47

The estimated grant date fair values of stock option awards granted under the 2016 Plan and the 2018 Inducement Incentive Award Plan were calculated using the Black-Scholes option pricing model based on the following weighted-average assumptions:

															Year Ended December 31,
																											2024						2023
Risk-free interest rate																											4.02		%				3.95		%
Dividend yield																											—						—
Expected term																											6.21						5.94
Expected volatility																											95.21		%				94.64		%
Weighted-average fair value of common stock																											$	19.63					$	34.54

Schedule of Stock Option Activity

The following table summarizes the stock option activity under the 2016 Plan, the 2018 Inducement Incentive Award Plan, and the Old Cartesian Plan for options for common stock:

															Weighted-average
			Number of												remaining						Aggregate
			common stock						Weighted-average						contractual term						intrinsic value
			options						exercise price ($)						(in years)						(in thousands)
Outstanding at December 31, 2023			776,865						$	2.97					6.50						$	13,760
Granted			1,000,092						$	19.63
Converted from options for Series A Preferred Stock			470,403						$	2.40
Exercised			(458,544)						$	2.57
Forfeited			(82,781)						$	17.28
Outstanding at December 31, 2024			1,706,035						$	11.99					7.59						$	12,025
Vested at December 31, 2024			656,258						$	3.22					5.36						$	9,674
Vested and expected to vest at December 31, 2024			1,564,044						$	11.31					7.44						$	11,961

The following table summarizes the stock option activity under the Old Cartesian Plan for options for Series A Preferred Stock:

			Number of												Weighted-average
			Series A												remaining						Aggregate
			Preferred Stock						Weighted-average						contractual term						intrinsic value
			options						exercise price ($)						(in years)						(in thousands)
Outstanding at December 31, 2023			14,112.299						$	79.94					5.91						$	8,601
Converted to options for common stock			(14,112.299)						$	79.94
Outstanding at December 31, 2024			—						$	—

Schedule of Restricted Stock Units Activity

The following table summarizes the Company’s restricted stock units under the 2016 Plan and the Old Cartesian Plan:

			Number of shares						Weighted average grant date fair value ($)
Unvested at December 31, 2023			—						$	—
Granted			477,037						19.86
Forfeited			(32,799)						19.80
Unvested at December 31, 2024			444,238						$	19.86

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