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Stock Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expenses | Total stock‑based compensation expense recorded for employees, directors and non‑employees:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Research and development |  | $ | 951 |  |  | $ | 764 |  |  | $ | 2,907 |  |  | $ | 2,378 |
General and administrative |  |  | 1,140 |  |  |  | 1,072 |  |  |  | 3,453 |  |  |  | 3,356 |
Total stock-based compensation expense |  | $ | 2,091 |  |  | $ | 1,836 |  |  | $ | 6,360 |  |  | $ | 5,734 |
Schedule of Options Outstanding | The following table summarizes the information about stock options outstanding at September 30, 2024:
|  |  |  |  |  |  |  | Weighted-Average |  |  |  |
|  |  |  |  | Weighted- |  |  | Remaining |  |  |  |
|  |  |  |  | Average |  |  | Contractual |  |  | Aggregate |
(in thousands, except for share data) |  | Options Outstanding |  |  | Exercise Price |  |  | Term (in years) |  |  | Intrinsic Value |
Outstanding at December 31, 2023 |  |  | 4,695,619 |  |  | $ | 2.01 |  |  |  | 5.9 |  |  | $ | 7,875 |
Options granted |  |  | — |  |  |  | — |  |  |  |  |  |  |
Options exercised |  |  | (327,492 | ) |  |  | 1.05 |  |  |  |  |  |  |
Forfeited |  |  | (58,123 | ) |  |  | 1.05 |  |  |  |  |  |  |
Expired |  |  | — |  |  |  | — |  |  |  |  |  |  |
Outstanding at September 30, 2024 |  |  | 4,310,004 |  |  | $ | 2.09 |  |  |  | 5.0 |  |  | $ | 27,613 |
Exercisable at September 30, 2024 |  |  | 4,168,686 |  |  | $ | 2.13 |  |  |  | 5.0 |  |  | $ | 26,561 |
Nonvested at September 30, 2024 |  |  | 141,318 |  |  | $ | 1.05 |  |  |  | 7.2 |  |  | $ | 1,052 |
Schedule of Restricted Stock Units Outstanding | The following table summarizes the information about restricted stock units outstanding at September 30, 2024:
|  |  |  |  | Weighted-Average |
|  |  |  |  | Grant Date |
(in thousands, except for share data) |  | Shares |  |  | Fair Value |
Outstanding at December 31, 2023 |  |  | 6,917,422 |  |  | $ | 2.35 |
Awarded |  |  | 1,425,000 |  |  |  | 5.71 |
Released |  |  | (1,256,626 | ) |  |  | 1.86 |
Forfeited |  |  | (633,984 | ) |  |  | 2.92 |
Outstanding at September 30, 2024 |  |  | 6,451,812 |  |  | $ | 3.35 |
Nonvested at September 30, 2024 |  |  | 6,205,093 |  |  | $ | 3.38 |
Weighted Average Remaining Recognition Period (in years) |  |  | 2.6 |  |  |  |

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