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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The following table shows total stock-based compensation expense recognized in the accompanying Consolidated Statements of Operations (in thousands):

			Year Ended December 31,
			2024						2023
Research and development			$	5,698					$	15,215
General and administrative			6,684						12,148
Total stock-based compensation expense			$	12,382					$	27,363

Schedule of Assumptions used for Estimating Fair Value of Employee Stock Options

The

assumptions used for estimating the fair value of the employee stock options were as follows:

			Year Ended December 31,
			2024						2023
Risk-free interest rate			4.35%						3.44-4.00%
Expected term (in years)			5.36						5.47-5.56
Expected dividend yield of stock			—						—
Expected volatility			82.98%						72.18-76.05%

Schedule of Assumptions used for Estimating the Fair Value of the ESPP Purchase Rights

The assumptions used for estimating the fair value of the ESPP purchase rights are as follows:

			Year Ended December 31,
			2024						2023
Risk-free interest rate			4.13-5.32%						4.28-5.37%
Expected term (in years)			0.5-2.0						0.5-2.0
Expected dividend yield of stock			—						—
Expected volatility			99.27-153.06%						65.71-100.60%

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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.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

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-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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