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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
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 March 31,
20252024
GrantsWeighted Average Grant Date Fair ValueGrantsWeighted Average Grant Date Fair Value
Stock options1,897,917$21.45 1,044,658$26.50 
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
March 31,
20252024
Research and development (1)
$3,512 $6,857 
General and administrative5,347 6,978 
Total stock-based compensation expense (2)
$8,859 $13,835 
(1) For the three months ended March 31, 2024, $5.4 million was recognized as stock compensation expense related to the Parapyre Option Obligation.
(2) Of the total $13.8 million of stock-based compensation expense for the three months ended March 31, 2024, $2.9 million 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
March 31,
20252024
Stock Options Granted
Expected term (in years)6.036.03
Expected volatility76%105%
Risk-free interest4.46%3.88%
Dividend yield——
 
2016 ESPP
Expected term (in years)0.500.50
Expected volatility69%98%
Risk-free interest4.23%5.31%
Dividend yield——