Stock-Based Compensation Expense (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense included in the Company’s consolidated statements of operations and comprehensive loss was as follows (in thousands):

	Year Ended December 31,
	2024		2023
Research and development	$	1,360	$	1,176
General and administrative		5,356		4,711
Total	$	6,716	$	5,887

Summary of Restricted Stock Unit Activity, Including 2024 PSUs

A summary of the restricted stock unit activity, including 2024 PSUs, under the Plans for the year ended December 31, 2024 was as follows:

	Shares			Weighted- Average Grant Date Fair Value
Restricted stock units outstanding as of December 31, 2023		105,048		$	3.20
Granted		2,332,527		$	2.82
Vested		(86,574	)	$	4.26
Forfeited		(207,199	)	$	4.29
Restricted stock units outstanding as of December 31, 2024		2,143,802		$	2.65

Schedule of Unrecognized Stock-Based Compensation

The following table summarizes the Company’s unrecognized stock-based compensation as of December 31, 2024:

	Unrecognized Expense (in thousands)		Period of Recognition (years)
Restricted stock units	$	2,088		2.4
Stock options		5,743		2.7
Total	$	7,831

Schedule of Fair Value of Stock Option Estimated on Date of Grant Using Black-Scholes Option-Pricing Model or Monte Carlo Simulation in Case of Options Granted to Certain Executive Officers

The fair value of each stock option granted to employees, directors and non-employees was estimated on the date of grant using the Black-Scholes option-pricing model, or a Monte Carlo simulation in the case of the options granted to certain executive officers with market-performance grants, with the following weighted-average assumptions:

	Year Ended December 31,
	2024			2023
Risk-free interest rate		4.2	%		3.9	%
Expected dividend yield		—	%		—	%
Expected term (in years)		6.0			6.1
Expected volatility		80.5	%		82.7	%

Summary of Stock Option Activity, Including Incentive Options, Under Plans

A summary of the stock option activity, including incentive options, under the Plans for the year ended December 31, 2024 was as follows:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023		5,709,980		$	5.68		8.0	$	6,334
Granted		2,605,002			4.89
Exercised		(1,002	)		3.96
Cancelled		(1,999,419	)		4.69
Outstanding at December 31, 2024		6,314,561		$	5.66		7.5	$	—
Exercisable at December 31, 2024		2,822,175		$	7.06		6.8	$	—
Vested and expected to vest at December 31, 2024		6,314,561		$	5.66		7.5	$	—