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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Options Activity

Stock option activity under the 2020 Plan and the 2022 Plan, is as follows:

		Stock Options				Weighted-Average Exercise Price
Outstanding as of December 31, 2023			4,233,203			$	10.83
Granted			1,474,417			$	15.68
Exercised			(164,548	)		$	10.93
Canceled/Forfeited			(264,097	)		$	12.98
Outstanding as of June 30, 2024			5,278,975			$	12.07

Summary of Restricted Stock Units

A summary of the Company’s RSU and PSU activity and related information for the six months ended June 30, 2024 is as follows:

		Time-based RSUs				PSUs				Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2023			—				—			$	—
Granted			77,645				28,555				10.64
Vested			—				—				—
Forfeited			(2,460	)			—				10.64
Issued and unvested as of June 30, 2024			75,185				28,555			$	10.64

Summary of Stock-based Compensation Expense

Stock-based compensation expense associated with stock options, RSUs, PSUs, and the Company’s ESPP included in the accompanying condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
Research and development		$	1,269			$	782			$	2,014			$	1,382
General and administrative			1,593				1,055				2,870				1,803
Total stock-based compensation expense		$	2,862			$	1,837			$	4,884			$	3,185

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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
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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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