Common Stock and Stock-Based Awards (Tables)

6 Months Ended

Jun. 30, 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		7,173,731		$	1.05
Exercised		—		$	—
Forfeited		(2,710,547	)	$	8.56
Outstanding as of June 30, 2024		19,307,296		$	6.60		7.39	$	—
Vested or expected to vest as of June 30, 2024		19,307,296		$	6.60		7.39	$	—
Options exercisable as of June 30, 2024		9,715,178		$	10.07		5.62	$	—

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		1,288,127		$	1.09
Vested		(521,869	)	$	5.73
Forfeited		(336,619	)	$	3.24
Unvested restricted stock units as of June 30, 2024		3,807,443		$	3.07

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development expenses	$	2,835	$	7,851	$	6,445	$	11,582
General and administrative expenses		2,699		5,641		5,578		8,760
	$	5,534	$	13,492	$	12,023	$	20,342