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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes information and activity related to the Company’s stock options:
Number of
Stock Options		Weighted Average
Exercise Price		Weighted Average
Remaining Contractual Life
(in years)		Total
Intrinsic Value
(in thousands)
Outstanding as of December 31, 20241,890,932 $15.69 6.78$920 
Options granted378,375 8.92 
Options exercised (1,628)4.41 
Forfeited (unvested)(2,226)6.81 
Outstanding as of March 31, 20252,265,453 $14.58 7.12$2,248 
Options vested and exercisable1,060,694 $23.93 5.18$1,101 
Schedule of Components of Stock-Based Compensation Expense
The following table summarizes total stock-based compensation expense recorded in the condensed consolidated statements of operations (in thousands):
Three Months Ended
March 31,
20252024
Research and development$288 $136 
General and administrative229 188 
Total$517 $324 
Schedule of Black-Scholes Option-Pricing Model Following Assumptions
The fair value of each employee and non-employee stock option grant was estimated on the date of grant using Black-Scholes based on the following weighted average assumptions.

OptionsThree months ended March 31,
20252024
Risk-free interest rate
4.4%
3.8%
Expected dividend yield
0.0%0.0%
Expected term in years (for employees)
6.08
5.50 - 6.08
Expected volatility
106.9%
79.5% - 79.7%