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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Awards Granted
The following table summarizes the Company’s stock awards granted under all equity incentive and inducement plans for each of the periods indicated:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
GrantsWeighted Average Grant Date Fair ValueGrantsWeighted Average Grant Date Fair ValueGrantsWeighted Average Grant Date Fair ValueGrantsWeighted Average Grant Date Fair Value
Stock options387,695$36.42 2,536,697$7.50 1,432,353$29.19 2,714,317$7.75 
Stock-Based Compensation Expense
Total stock-based compensation expense recognized from the Company’s equity incentive plans, 2018 Plan, 2016 ESPP and Parapyre Option Obligation during the periods presented was as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Research and development (1)
$3,451 $394 $10,308 $1,171 
General and administrative5,231 1,517 12,209 2,449 
Total stock-based compensation expense (2)
$8,682 $1,911 $22,517 $3,620 
(1) For the three and six months ended June 30, 2024, $1.5 million and $6.9 million, respectively, was recognized as stock compensation expense related to the Parapyre Option Obligation. For the three and six months ended June 30, 2023, $0.2 million was recognized as stock compensation expense related to the Parapyre Option Obligation.
(2) Of the total $8.7 million and $22.5 million of stock-based compensation expense for the three and six months ended June 30, 2024, $0.7 million and $3.8 million, respectively, is related to legacy Aeglea employees and directors who had been terminated as of the end of the respective period. Of the total $1.9 million and $3.6 million of stock-based compensation expense for the three and six months ended June 30, 2023, $1.8 million and $3.5 million, respectively, is related to legacy Aeglea employees and directors who had been terminated as of the end of the period.
Assumptions used to Estimate the Fair Value of Stock Options Granted
The following table summarizes the weighted-average Black-Scholes option pricing model assumptions used to estimate the fair value of stock options granted under the Company's equity incentive plans, and the shares purchasable under the 2016 ESPP during the periods presented:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Stock Options Granted
Expected term (in years)5.926.036.006.03
Expected volatility104%117%105%115%
Risk-free interest4.35%3.98%4.01%3.99%
Dividend yield————
 
2016 ESPP
Expected term (in years)0.500.49
Expected volatility98%181%
Risk-free interest5.31%4.99%
Dividend yield——