Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2024:

	Number of Stock Options Outstanding			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
						(in years)
Balance at January 1, 2024		1,749,475		$	10.61		8.4	$	3,181
Options granted, fair value of $15.72 per share		2,788,000			20.30				16,048
Options exercised		(33,944	)		9.14				504
Options forfeited		(82,855	)		15.52				926
Balance at June 30, 2024		4,420,676		$	16.64		9.1	$	42,783
Exercisable options at June 30, 2024		1,026,134		$	12.26		8.2	$	15,433
Unvested options at June 30, 2024		3,394,542		$	17.97		9.4	$	27,350

Schedule of Grant-Date Fair Value of Stock Options Issued, Presented on a Weighted Average Basis

The table below summarizes the assumptions used to determine the grant-date fair value of stock options issued, presented on a weighted average basis during the three and six months ended June 30, 2024 and 2023.

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Risk-free interest rate		4.5	%		4.1	%		4.3	%		3.8	%
Expected term (in years)		6.0		6.1				6.0		6.1
Expected volatility		92.3	%		86.4	%		92.7	%		85.0	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%

Schedule of Stock Based Compensation Expense

The following table provides a summary of stock-based compensation expense:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	1,350	$	141	$	2,189	$	332
General and administrative		1,751		321		2,947		663
Total stock-based compensation expense	$	3,101	$	462	$	5,136	$	995