Common Stock and Stock-Based Awards (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2023:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
						(in years)
Outstanding as of December 31, 2023		14,844,112		$	9.64		5.71	$	-
Granted		6,743,362		$	1.07
Exercised		—		$	—
Forfeited		(2,428,857	)	$	8.93
Outstanding as of March 31, 2024		19,158,617		$	6.72		7.59	$	—
Vested or expected to vest as of March 31, 2024		19,158,617		$	6.72		7.59	$	—
Options exercisable as of March 31, 2024		9,026,731		$	10.16		5.68	$	—

Summary of Restricted and Performance Stock Unit Activity

The following table summarizes the Company’s RSU and PSU activity since December 31, 2023:

	Number of Shares			Weighted Average Grant Date Fair Value
Unvested restricted stock units as of December 31, 2023		3,377,804		$	4.26
Granted		1,282,941		$	1.09
Vested		(329,981	)	$	6.24
Forfeited		(178,039	)	$	3.35
Unvested restricted stock units as of March 31, 2024		4,152,725		$	3.16

Summary of Stock Based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands):

	Three Months Ended March 31,
	2024		2023
Research and development expenses	$	3,610	$	3,731
General and administrative expenses		2,879		3,119
	$	6,489	$	6,850