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Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2024:

			Options						Weighted average exercise price						Weighted average remaining contractual term (years)						Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2023			6,023,370						$	3.94
Exercised			(1,579)						1.42												$	2
Granted			2,226,000						2.10
Forfeited			(37,244)						5.58
Outstanding as of March 31, 2024			8,210,547						$	3.43					8.20						$	4,241
Exercisable as of March 31, 2024			2,737,710						$	1.24					6.00						$	3,443
Vested and expected to vest at March 31, 2024			8,210,547						$	3.43					8.20						$	4,241

Schedule of Estimated Using The Black-Scholes Option-Pricing Model

The fair values in the three months ended March 31, 2024 and 2023 were estimated using the Black-Scholes option-pricing model based on the following assumptions:

			Three Months Ended March 31,
			2024						2023
Risk-free interest rate			3.77% - 3.89%						2.92% - 4.03%
Expected term			6 years						6 years
Expected volatility			103.39% - 105.96%						57.77% - 62.65%
Expected dividend yield			—						—

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories in its accompanying unaudited interim consolidated statements of operations:

									Three Months Ended March 31,
															2024						2023
Research and development															$	436					$	10
General and administrative															621						255
															$	1,057					$	265

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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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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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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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