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Stockholders' Equity (Deficit) (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of RSU Activity

The following is a summary of RSU activity under our 2014 EIP, 2024 EIP and Inducement Plan:

 

 

 

RSUs

 

 

 

Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Balance as of December 31, 2024

 

 

414,470

 

 

$

39.09

 

Granted

 

 

386,068

 

 

$

7.59

 

Forfeited

 

 

(13,910

)

 

$

75.15

 

Vested

 

 

(282,988

)

 

$

35.66

 

Balance as of June 30, 2025

 

 

503,640

 

 

$

15.87

 

Summary of Stock Option Activity

The following is a summary of stock option activity under our 2014 EIP, 2024 EIP and Inducement Plan:

 

 

 

Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Balance as of December 31, 2024

 

 

234,143

 

 

$

217.91

 

 

 

7.0

 

 

$

27

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited or expired

 

 

(46,594

)

 

 

259.30

 

 

 

 

 

 

 

Balance as of June 30, 2025

 

 

187,549

 

 

$

207.63

 

 

 

5.0

 

 

$

 

Schedule of Common Stock Reserved for Future Issuance Under Equity Incentive Plans

The following shares of common stock were reserved for future issuance under our equity incentive plans as of June 30, 2025:

 

 

 

Total Shares
Reserved

 

2014 Equity Incentive Plan

 

 

296,810

 

2018 Inducement Plan

 

 

150,589

 

2024 Equity Incentive Plan

 

 

381,996

 

2014 Employee Stock Purchase Plan

 

 

23,538

 

Total reserved shares of common stock

 

 

852,933

 

Schedule of Stock-based Compensation, Related to Employee and Nonemployee Stock Awards

The following is a summary of stock-based compensation expense for the periods presented:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

 

(in thousands)

 

Research and development

 

$

742

 

 

$

3,314

 

 

$

2,340

 

 

$

8,027

 

General and administrative

 

 

2,060

 

 

 

3,022

 

 

 

4,670

 

 

 

6,706

 

Total stock-based compensation expense

 

$

2,801

 

 

$

6,336

 

 

$

7,010

 

 

$

14,733