Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Options Activity

The following table summarizes stock option activity:

	Number of Shares			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value ($000s)
Outstanding at January 1, 2024		17,017,319		$	15.30		7.1	$	5,080
Granted		3,213,550		$	4.10
Exercised		—		$	—
Cancelled		(64,800	)	$	18.27
Outstanding at December 31, 2024		20,166,069		$	13.51		6.6	$	6,095
Vested and expected to vest at December 31, 2024		20,166,069		$	13.51		6.6	$	6,095
Vested and exercisable at December 31, 2024		14,856,586		$	16.31		6.0	$	6,077

Summary of Weighted Average Assumptions Used to Estimate Fair Value of Award

The fair value of each award was estimated using Black-Scholes based on the following weighted average assumptions:

	For the Year Ended December 31,
	2024	2023
Risk-free interest rate	3.96%	3.65%
Expected term	5.96 years	5.97 years
Expected volatility	84%	85%
Expected dividend yield	0%	0%

Schedule of Stock-based Compensation Expense

Stock-based compensation expense is classified as follows:

	For the Year Ended December 31,
	2024		2023
Research and development	$	24,072	$	22,666
General and administrative		27,695		26,762
Total stock-based compensation expense	$	51,767	$	49,428

Summary of Components of Stock-based Compensation Expense

The components of stock-based compensation expense were:

	For the Year Ended December 31,
	2024		2023
Restricted stock units	$	5,374	$	3,679
Performance-based restricted stock units		3,209		—
Stock options		43,073		45,626
ESPP		111		123
Total stock-based compensation expense	$	51,767	$	49,428

Restricted Stock Units

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Restricted Stock Units

	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024		2,337,517		$	4.69
Granted		1,126,100		$	4.05
Released		(927,932	)	$	4.65
Cancelled		(12,633	)	$	4.62
Unvested shares at December 31, 2024		2,523,052		$	4.42

Performance-based Restricted Stock Units

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Restricted Stock Units

	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024		724,970	$	7.14
Granted		1,057,900	$	4.16
Released		—	$	—
Cancelled		—	$	—
Unvested shares at December 31, 2024		1,782,870	$	5.37