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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Award Activity for the Period
The following table summarizes the activity related to the stock option awards for the nine months ended September 30, 2024:
Number of Shares Weighted
Average Exercise Price
Awards outstanding at December 31, 2023249,247 $77.53 
Granted447,499 13.11 
Forfeited(5,153)18.75 
Awards outstanding at September 30, 2024691,593 $36.29 
Options exercisable at September 30, 2024237,800 $75.20 
Weighted average remaining contractual term6.9 Years
Options vested and expected to vest at September 30, 2024551,200 $41.73 
Weighted average remaining contractual term8.2 Years
Summary of Compensation Expense Related to Grants of Stock Options
Compensation expense related to the grants of stock options is included in research and development and general and administrative expense as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Research and development$228 $113 $511 $316 
General and administrative625 320 1,421 859 
Total share-based compensation expense$853 $433 $1,932 $1,175