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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Stock Option Activity | The following table summarizes stock option activity under the Equity Plans (excluding RSUs) during the six months ended June 30, 2024:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Term |  |  | Aggregate Intrinsic Value |
|  |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Outstanding as of December 31, 2023 |  |  | 2,865,594 |  |  | $ | 10.89 |  |  |  | 5.76 |  |  | $ | 1 |
Granted |  |  | 35,604 |  |  |  | 1.52 |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited or cancelled |  |  | (43,156 | ) |  |  | 13.31 |  |  |  |  |  |  |
Outstanding as of June 30, 2024 |  |  | 2,858,042 |  |  | $ | 10.74 |  |  |  | 5.04 |  |  | $ | 1 |
Outstanding as of June 30, 2024 - vested and expected to vest |  |  | 2,858,042 |  |  | $ | 10.74 |  |  |  | 5.04 |  |  | $ | 1 |
Exercisable at June 30, 2024 |  |  | 2,540,372 |  |  | $ | 10.44 |  |  |  | 4.85 |  |  | $ | — |
Summary of Share-Based Compensation Expense | The Company recorded share-based compensation expense related to incentive stock options, nonqualified stock options, stock grants, and stock-based awards in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Research and development expenses |  | $ | 729 |  |  | $ | 589 |  |  | $ | 1,419 |  |  | $ | 1,387 |
General and administrative expenses |  |  | 1,384 |  |  |  | 1,268 |  |  |  | 2,717 |  |  |  | 2,640 |
Total |  | $ | 2,113 |  |  | $ | 1,857 |  |  | $ | 4,136 |  |  | $ | 4,027 |
Restricted Stock Units (RSUs) [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Activity of Options and RSUs of Performance-Based Options | The following table summarizes RSU activity under the Equity Plans during the six months ended June 30, 2024:
|  | Number of RSU Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2023 |  |  | 5,368,807 |  |  | $ | 2.45 |
Granted |  |  | 3,410,996 |  |  |  | 1.56 |
Vested and released |  |  | (1,009,459 | ) |  |  | 2.60 |
Forfeited or cancelled |  |  | (149,600 | ) |  |  | 1.93 |
Outstanding as of June 30, 2024 |  |  | 7,620,744 |  |  | $ | 2.04 |
Performance Shares [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Activity of Options and RSUs of Performance-Based Options | The following table summarizes Inducement PSU activity under the Equity Plans during the six months ended June 30, 2024:
|  | Number of Inducement PSU Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2023 |  |  | 69,999 |  |  | $ | 1.08 |
Granted |  |  | — |  |  |  | — |
Vested and released |  |  | — |  |  |  | — |
Forfeited or cancelled |  |  | — |  |  |  | — |
Outstanding as of June 30, 2024 |  |  | 69,999 |  |  | $ | 1.08 |

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