Share-based compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-based compensation

Schedule of stock-based compensation expense

Share-based compensation expense recorded in the condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

	Three Months Ended March 31,
	2024		2023
Research and development	$	383	$	430
General and administrative		1,776		794
Total share-based compensation expense	$	2,159	$	1,224

Schedule of weighted average assumptions used in the Black-Scholes option-pricing

	Three Months Ended March 31,
	2024			2023
Expected volatility		84.1	%		87.9	%
Risk-free interest rate		4.1	%		3.9	%
Expected term (in years)		6.06			5.96
Expected dividend yield		—	%		—	%

Schedule of option activity

				Weighted
		Weighted		average	Aggregate
		average		remaining	Intrinsic
	Number of	exercise price		contractual	Value
	shares	per share		term (years)	(in thousands)
Outstanding at December 31, 2023	7,978,291	$	6.15	8.62	$	45,360
Granted	1,129,434		19.86
Exercised	(137,112)		6.22
Forfeited	(344,339)		8.26
Expired	(94,591)		20.86
Outstanding at March 31, 2024	8,531,683	$	7.71	8.33	$	146,173
Exercisable at March 31, 2024	3,115,238	$	5.38	6.62	$	61,212