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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement, Expensed and Capitalized, Amount The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Research and development$1,667 $1,272 $4,814 $3,212 
General and administrative1,698 1,202 6,007 2,621 
Total expense$3,365 $2,474 $10,821 $5,833 
Schedule of Share-Based Payment Arrangement, Option, Activity
The following table summarizes the option activity:
OptionsNumber
of
shares		Weighted
average
exercise price
per share
Weighted
average
remaining
contractual
term (in years)
Outstanding at December 31, 20241,387,556$28.62 7.80
Granted911,291$17.09 
Exercised(14,902)$11.62 
Expired/Forfeited(171,554)$32.53 
Outstanding at September 30, 20252,112,391$23.45 8.03
Exercisable at September 30, 2025795,976$24.41 6.39
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The fair value of each option was estimated on the grant date using the weighted-average assumptions in the table below:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Expected volatility
95.53%-96.03%
90.85%-92.31%
93.99%-96.49%
86.39%-92.31%
Risk-free interest rate
3.77%-3.99%
3.43%-4.40%
3.77%-4.42%
3.43% - 4.60%
Expected life (in years)
6.03-6.07
5.95-6.12
5.27-6.96
5.50 - 6.15
Expected dividend yield— — — — 
Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
A summary of the Company’s restricted stock unit (“RSU”) activity and related information for the nine months ended September 30, 2025 is as follows:
RSUsNumber of SharesWeighted Average Grant Date Fair Value
Unvested at December 31, 2024222,530 $36.06 
Restricted stock units granted135,205 $16.14 
Restricted stock units vested(73,158)$36.06 
Restricted stock units forfeited(26,780)$30.49 
Unvested at September 30, 2025257,797 $26.19 
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity
A summary of the Company’s performance stock unit (“PSU”) activity and related information for the nine months ended September 30, 2025 is as follows:
PSUsNumber of SharesWeighted Average Grant Date Fair Value
Unvested at December 31, 2024252,124 $36.06 
Performance stock units granted— $— 
Performance stock units vested— $— 
Performance stock units forfeited— $— 
Unvested at September 30, 2025252,124 $36.06