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Stock-Based Awards (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule 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,
2025202420252024
Expected term of options (in years)
N/A
6.1
5.5 - 6.1
5.5 - 6.1
Expected stock price volatility
N/A
89.9% - 90.4%
87.6% - 89.9%
89.2% - 91.8%
Risk-free interest rate
N/A
3.5% - 4.1%
4.0% - 4.5%
3.5% - 4.6%
Expected dividend yieldN/A
Schedule 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,
2025202420252024
Research and development$5,546 $8,931 $19,497 $35,610 
Selling, general and administrative5,810 7,766 18,369 27,006 
Total stock-based compensation$11,356 $16,697 $37,866 $62,616