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Stock-Based Awards (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Assumptions Used for Estimating the Fair Value of Stock Options Granted
The fair value of stock options granted to employees was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Expected term of options (in years)6.16.1
5.5 - 6.1
5.5 - 6.1
Expected stock price volatility
89.9% - 90.4%
99.9% - 100.9%
89.2% - 91.8%
99.6% - 101.5%
Risk-free interest rate
 3.5% - 4.1%
4.0% - 4.4%
3.5% - 4.6%
3.4% - 4.4%
Expected dividend yield
Summary of Stock-based Compensation Expense The following table sets forth the total stock-based compensation expense for all awards granted to employees and non-employees and the ESPP in the unaudited condensed consolidated statements of operations (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Research and development$8,931 $15,819 $35,610 $46,284 
Selling, general and administrative7,766 11,125 27,006 36,760 
Total stock-based compensation$16,697 $26,944 $62,616 $83,044