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Stock-based compensation (Tables)
12 Months Ended
Dec. 31, 2024
Stock-based compensation  
Compensation cost recognized for all stock-based compensation awards

Year ended December 31, 

 

    

2024

    

2023

    

2022

 

(in thousands)

 

General and administrative

$

8,746

$

7,568

$

6,398

Research and development

 

6,039

 

3,585

 

2,946

Total stock-based compensation expense

$

14,785

$

11,153

$

9,344

Summary of stock-based compensation expense by type of award

Year ended December 31, 

2024

    

2023

    

2022

(in thousands)

Stock options

$

9,727

$

7,627

$

5,938

Restricted stock awards and units

4,734

3,241

3,215

Employee stock purchase plan awards

 

323

 

285

 

191

Total stock-based compensation expense

$

14,785

$

11,153

$

9,344

Summary of status and changes in unvested restricted stock

    

Weighted

Average

Grant Date

Fair Value

Units

    

Per Unit

Unvested restricted stock units as of December 31, 2023

1,370,897

$

6.65

Awarded

1,010,208

$

7.83

Vested

(515,303)

$

6.42

Forfeited

(215,859)

$

6.67

Unvested restricted stock units as of December 31, 2024

1,649,943

$

7.44

Summary of stock option activity

    

Weighted

    

Remaining

    

Aggregate

Average

Contractual

Intrinsic

Exercise

Life

Value

Shares

    

Price

    

(in years)

    

(in thousands)

Outstanding at December 31, 2023

7,425,444

$

8.52

 

Granted

2,407,326

$

7.75

Exercised

(106,831)

$

4.49

Cancelled or forfeited

(925,475)

$

10.98

Outstanding at December 31, 2024

8,800,464

$

8.10

7.3

3,462

Exercisable at December 31, 2024

4,837,929

$

8.45

 

6.4

$

2,732

Summary of weighted-average assumptions

Year ended December 31, 

    

2024

    

2023

    

2022

Risk-free interest rate

 

4.1

%  

 

4.0

%  

 

2.2

%

Expected dividend yield

 

%

 

%

 

%

Expected term (in years)

 

6.0

 

6.0

 

6.0

Expected volatility

 

76.3

%  

 

80.4

%  

 

79.4

%