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Equity Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of our stock option activity and related information during the year ended December 31, 2024 is as follows:
Options Issued and Outstanding
Weighted Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value
(in thousands)
Number of Shares
(in thousands)
Weighted-Average Exercise Price per Share
Balance at December 31, 202322,168 $4.20 
Options granted9,674 $7.95 
Options exercised(2,654)$2.24 
Options canceled(1,103)$5.35 
Balance at December 31, 202428,085 $5.63 7.1$31,830 
Vested and expected to vest at December 31, 202428,085 $5.63 7.1$31,830 
Exercisable at December 31, 202414,968 $5.52 5.7$19,161 
Schedule of Valuation Assumptions for Stock Options The estimated grant date fair value of employee stock options was calculated using the Black-Scholes option-pricing model, based on the following weighted-average assumptions:
Year Ended December 31,
202420232022
Expected term (in years)5.45.14.9
Expected volatility100.8 %97.6 %92.1 %
Risk-free interest rate4.0 %3.8 %2.2 %
Dividend yield— %— %— %
Schedule of Restricted Stock Units Activity
A summary of our RSUs activity and related information for the year ended December 31, 2024 is as follows:
Number of RSUs
(in thousands)
Weighted-Average Grant Date Fair Value Per Share
Non-vested restricted stock units at December 31, 20233,646 $3.09 
Granted7,382 $7.94 
Vested(2,430)$5.65 
Forfeited(585)$5.68 
Non-vested restricted stock units at December 31, 20248,013 $6.59 
Schedule of Valuation Assumptions for Employee Stock Purchase Plan
The following table illustrates the weighted-average assumptions for the Black-Scholes option-pricing model used in determining the fair value of ESPP purchase rights granted to our employees:
Year Ended December 31,
202420232022
Expected term (in years)0.50.50.5
Expected volatility82.8 %86.0 %97.2 %
Risk-free interest rate5.0 %5.3 %1.9 %
Dividend yield— %— %— %
Schedule of Stock-Based Compensation Recognized
Stock-based compensation expense recognized for stock options, RSUs and our ESPP is recorded as operating expenses in our statements of operations and comprehensive loss, as follows:
Year Ended December 31,
(in thousands)202420232022
Selling, general and administrative$27,791 $9,952 $7,525 
Research and development9,590 3,578 3,225 
Total$37,381 $13,530 $10,750 
Schedule of Total Unrecognized Stock-Based Compensation Expense, Net of Estimated Forfeitures A summary of our total unrecognized stock-based compensation expense, net of estimated forfeitures, as of December 31, 2024 is as follows:
December 31, 2024
Unrecognized Compensation Expense (in thousands)
Average Remaining Vesting Period (in years)
Stock option grants$55,610 2.71
RSU grants$49,930 2.96
ESPP$162 0.1