Share-based compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-based compensation

Schedule of option activity

A summary of option activity under the Plans during the nine months ended September 30, 2024 is as follows:

				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	5,172,469		15.12
Exercised	(566,548)		3.13
Forfeited	(895,548)		8.18
Expired	(236,808)		24.42
Outstanding at September 30, 2024	11,451,856	$	9.81	8.75	$	65,609
Exercisable at September 30, 2024	2,813,140	$	4.91	6.89	$	29,667

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

	Nine Months Ended September 30,
	2024			2023
Expected volatility		89.8	%		88.5	%
Risk-free interest rate		4.0	%		3.8	%
Expected term (in years)		6.06			6.03
Expected dividend yield		—	%		—	%

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Research and development	$	1,820	$	466	$	3,244	$	1,323
General and administrative		3,072		617		7,034		2,017
Total share-based compensation expense	$	4,892	$	1,083	$	10,278	$	3,340