Share-based compensation (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	1,041	$	427	$	1,424	$	857
General and administrative		2,186		606		3,962		1,400
Total share-based compensation expense	$	3,227	$	1,033	$	5,386	$	2,257

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

	Six Months Ended June 30,
	2024			2023
Expected volatility		86.1	%		88.5	%
Risk-free interest rate		4.2	%		3.8	%
Expected term (in years)		6.04			6.03
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	2,061,569		18.15
Exercised	(388,556)		3.25
Forfeited	(757,146)		8.43
Expired	(356,159)		16.34
Outstanding at June 30, 2024	8,537,999	$	8.55	8.57	$	46,218
Exercisable at June 30, 2024	2,743,701	$	4.83	7.20	$	23,098