Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity for the nine months ended September 30, 2024 is as follows:

	Options Outstanding			Weighted-Average Exercise Price
Balance at December 31, 2023		11,945,032		$	11.89
Options granted		3,513,857			1.80
Options exercised		(6,502	)		—
Options forfeited		(1,640,532	)		7.89
Balance at September 30, 2024		13,811,855		$	9.80
Vested and exercisable, September 30, 2024		7,914,597		$	8.68

Schedule of Stock Option Valuation Assumptions

The following assumptions were used to determine the grant date fair value of $1.16 to $1.27 and $2.80 to $3.02 for the 2024 and 2023 Market Condition Options, respectively:

	2024			2023
Risk-free interest rate		4.07	%		3.94	%
Expected volatility		84.80	%		83.10	%
Expected dividend yield		—			—
Strike price	$	1.77		$	4.59

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the nine months ended September 30, 2024 is as follows:

	Number of Shares			Weighted-Average Grant Date Fair Value
Balance at December 31, 2023		3,680,076		$	7.49
Granted		2,950,262			1.79
Vested		(901,885	)		9.70
Forfeited		(924,767	)		3.89
Balance at September 30, 2024		4,803,686		$	4.27

Schedule of Components of Stock-based Compensation Expensed

The following table summarizes the components of stock-based compensation recognized in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of revenue	$	402	$	392	$	1,189	$	1,127
Research and development		2,127		2,242		6,381		7,523
Selling, general and administrative		3,994		5,700		14,198		18,160
Total stock-based compensation	$	6,523	$	8,334	$	21,768	$	26,810