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Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 30, 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			(3,810)						0.99												$	4
Granted			3,766,765						1.76
Forfeited			(1,008,687)						4.70
Outstanding as of September 30, 2024			8,777,638						$	2.92					7.9						$	620
Exercisable as of September 30, 2024			3,871,741						$	2.37					6.4						$	619

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

The fair values in the nine months ended September 30, 2024 and 2023 were estimated using the Black-Scholes option-pricing model based on the following assumptions:

			Nine Months Ended September 30,
			2024						2023
Risk-free interest rate			3.77% - 4.59%						2.92% - 4.03%
Expected term			6 years						6 years
Expected volatility			103.00% - 112.10%						57.77% - 65.00%
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 September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Research and development			$	384					$	418					$	776					$	452
General and administrative			731						430						2,021						991
			$	1,115					$	848					$	2,797					$	1,443

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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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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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