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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 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 |  |  | (44,535 | ) |  |  | 13.36 |  |  |  |  |  |  |
Outstanding as of September 30, 2024 |  |  | 2,856,663 |  |  | $ | 10.73 |  |  |  | 4.75 |  |  | $ | 1 |
Outstanding as of September 30, 2024 - vested and expected to vest |  |  | 2,856,663 |  |  | $ | 10.73 |  |  |  | 4.75 |  |  | $ | 1 |
Exercisable at September 30, 2024 |  |  | 2,615,440 |  |  | $ | 10.54 |  |  |  | 4.60 |  |  | $ | — |
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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Research and development expenses |  | $ | 703 |  |  | $ | 619 |  |  | $ | 2,123 |  |  | $ | 2,006 |
General and administrative expenses |  |  | 1,451 |  |  |  | 1,289 |  |  |  | 4,167 |  |  |  | 3,929 |
Total |  | $ | 2,154 |  |  | $ | 1,908 |  |  | $ | 6,290 |  |  | $ | 5,935 |
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 nine months ended September 30, 2024:
|  | Number of RSU Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2023 |  |  | 5,368,807 |  |  | $ | 2.45 |
Granted |  |  | 3,638,496 |  |  |  | 1.54 |
Vested and released |  |  | (1,244,736 | ) |  |  | 3.07 |
Forfeited or cancelled |  |  | (272,226 | ) |  |  | 1.84 |
Outstanding as of September 30, 2024 |  |  | 7,490,341 |  |  | $ | 1.93 |
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 nine months ended September 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 |  |  | (69,999 | ) |  |  | 1.08 |
Forfeited or cancelled |  |  | — |  |  |  | — |
Outstanding as of September 30, 2024 |  |  | — |  |  | $ | — |

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