Common Stock and Stock-Based Awards (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2024:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
						(in years)
Outstanding as of December 31, 2024		886,123		$	129.29		6.59	$	87
Granted		477,431		$	15.65
Exercised		—		$	—
Forfeited		(119,070	)	$	95.46
Outstanding as of March 31, 2025		1,244,484		$	88.93		7.37	$	—
Vested or expected to vest as of March 31, 2025		1,244,484		$	88.93		7.37	$	—
Options exercisable as of March 31, 2025		495,252		$	186.07		4.77	$	—

Summary of Restricted and Performance Stock Unit Activity

The following table summarizes the Company’s RSU and PSU activity since December 31, 2024:

	Number of Shares			Weighted Average Grant Date Fair Value
Unvested restricted stock units as of December 31, 2024		81,459		$	55.36
Granted		11,250		$	14.37
Vested		(12,966	)	$	59.63
Forfeited		(3,266	)	$	68.28
Unvested restricted stock units as of March 31, 2025		76,477		$	48.05

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 income (loss) (in thousands):

	Three Months Ended March 31,
	2025		2024
Research and development expenses	$	1,330	$	3,610
General and administrative expenses		1,489		2,879
	$	2,819	$	6,489

For the three months ended March 31, 2024, the table above includes stock-based compensation amounts related to discontinued operations.