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Share-based compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-based compensation  
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, 2024

 

11,990,781

$

10.02

8.69

$

34,209

Granted

224,000

10.10

Exercised

 

(256,055)

1.52

Forfeited

(348,748)

6.13

Expired

 

(111,130)

20.27

Outstanding at March 31, 2025

 

11,498,848

$

10.21

8.64

$

12,063

Exercisable at March 31, 2025

 

3,563,637

$

6.26

7.60

$

10,228

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

Three Months Ended March 31, 

 

    

2025

    

2024

 

Expected volatility

 

90.4

%  

84.1

%

Risk-free interest rate

 

4.3

%  

4.1

%

Expected term (in years)

 

6.08

 

6.06

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 March 31, 

2025

    

2024

Research and development

$

2,434

$

383

General and administrative

 

3,269

 

1,776

Total share-based compensation expense

$

5,703

$

2,159