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Stock-Based Compensation and Employee Stock Purchase Program (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Activity Under Stock Incentive Plans

The following is a summary of stock option information and weighted average exercise prices under the Company’s stock incentive plans (in thousands, except share data and price per share):

 

 

 

Shares
Subject to
Outstanding
Options

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

Aggregate
Intrinsic
Value

 

Outstanding — Balance at December 31, 2022

 

 

60,002

 

 

$

115

 

 

$

 

Options granted

 

 

26,021

 

 

 

6

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(5,644

)

 

 

30

 

 

 

39,062

 

Options expired

 

 

(301

)

 

 

121

 

 

 

 

Outstanding — Balance at December 31, 2023

 

 

80,078

 

 

 

85

 

 

 

 

Options granted

 

 

158,000

 

 

 

3

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(11,197

)

 

 

24

 

 

 

397

 

Options expired

 

 

(21,406

)

 

 

129

 

 

 

 

Outstanding — Balance at December 31, 2024

 

 

205,475

 

 

 

21

 

 

 

516,378

 

Vested and expected to vest — December 31, 2024

 

 

188,554

 

 

 

22

 

 

 

463,513

 

Exercisable —December 31, 2024

 

 

43,059

 

 

$

86

 

 

$

9,533

 

Weighted-Average Fair Value Assumption of Stock Option Awards

The fair value of stock option awards was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumption:

 

 

 

Year Ended December 31,

 

Assumptions

 

2024

 

 

2023

 

Expected term (years)

 

 

8.04

 

 

 

7.06

 

Expected volatility

 

 

101

%

 

 

124

%

Risk-free interest rate

 

 

3.77

%

 

 

3.61

%

Expected dividend yield