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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Value of Initial Fixed $100 Investment Based on (3)

Year

    

Summary Compensation Table Total for CEO ($) (1)

    

Compensation Actually Paid to CEO ($) (1) (2)

    

Average Summary Compensation Table Total for Non-CEO Named Executive Officers ($) (1)

    

Average Compensation Actually Paid to Non-CEO Named Executive Officers ($) (1)(2)

    

Total Shareholder Return

    

Nasdaq Biotechnology (NBI) Total Shareholder Return

Net Income (Loss)

2024

1,808,274

1,504,218

942,752

847,563

4

107

(131,782,503)

2023

2,315,263

1,315,854

1,144,751

1,014,523

7

109

(126,612,254)

2022

3,966,762

 

2,370,563

 

1,597,727

1,041,930

16

105

(136,639,466)

2021

 

5,885,495

(1,327,347)

1,836,454

  

(862,863)

29

118

(119,150,679)

2020

 

2,236,790

19,820,002

3,671,696

5,382,326

115

118

(80,523,002)

(1)

The CEO for 2024, 2023, 2022, 2021 and 2020 is Dr. Geoff McDonough. The Non-CEO NEOs for whom the average compensation is presented in this table for 2024 are Dr. Matthew Norkunas, Antoinette Paone, Dr. Phillip Samayoa and Dr. Matthew Stanton; for 2023 are Dr. Matthew Norkunas, Yalonda Howze, Dr. Douglas Kerr and Dr. Matthew Stanton; for 2022 and 2021 are Dr. Matthew Norkunas, Dr. Douglas Kerr, Dr. Matthew Stanton and Dr. Tracy Zimmermann; and for 2020 are Dr. Matthew Norkunas and Dr. Tracy Zimmermann.

(2)

The amounts shown as Compensation Actually Paid have been calculated in accordance with SEC rules and do not reflect compensation actually realized or received by our NEOs. These amounts reflect total compensation as set forth in the Summary Compensation Table for each year, adjusted as described below.

(3)

The peer group Total Shareholder Return utilizes the Nasdaq Biotechnology Index. Total Shareholder Return illustrates the value, as of the last day of the indicated fiscal year, of an investment of $100 in the company’s common stock on June 11, 2020 (the effective date of our Registration Statement on Form S-1 filed with the SEC in connection with our initial public offering).

2024

2023

2022

2021

2020

Adjustments

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

Total Compensation from Summary Compensation Table

1,808,274

942,752

2,315,263

1,144,751

3,966,762

1,597,727

5,885,495

1,836,454

2,236,790

3,671,696

Adjustments for stock and option awards:

(Subtraction): Aggregate value for stock awards and option awards included in Summary Compensation Table for the covered fiscal year

(790,358)

(250,807)

(1,301,880)

(231,444)

(3,027,675)

(960,782)

(4,950,122)

(1,213,010)

(1,379,905)

(3,238,913)

Addition: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end

418,016

132,650

682,293

221,241

1,525,800

484,183

936,844

228,821

4,937,828

4,230,537

Addition (Subtraction): Change as of the end of the covered fiscal year (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end

(184,462)

(63,599)

(517,955)

(178,515)

(427,413)

(192,681)

(2,155,228)

(1,512,235)

10,123,149

597,037

Addition: Vesting date fair value of awards granted and vested during the covered fiscal year

468,057

148,537

Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year

252,748

86,567

138,133

58,490

(134,968)

(35,054)

(1,044,336)

(202,893)

3,902,140

121,969

Compensation Actually Paid (as calculated)

1,504,218

847,563

1,315,854

1,014,523

2,370,563

1,041,930

(1,327,347)

(862,863)

19,820,002

5,382,326

*Amounts presented are averages for the entire group of Non-CEO NEOs.

For the equity values included in the above tables, the valuation assumptions used to calculate fair values of stock options were materially different from those disclosed at the time of the grant of the stock options  due to the volatility of our stock prices. The assumptions used in determining fair value of the stock options that vested during 2024, 2023, 2022, 2021 and 2020, or that were outstanding as of December 31, 2024, 2023, 2022, 2021, and 2020 as applicable, are as follows:

Stock Options Vested During Year or Outstanding on December 31:

2024

2023

2022

2021

2020

Risk-free interest rate

3.42% - 4.74%

3.46% - 4.90%

1.35% - 4.26%

0.50% - 1.35%

0.38% - 1.75%

Expected volatility

107.04% - 108.93%

99.6% - 109.2%

90.2% - 95.2%

74.6% - 91.1%

72.6% - 82.66%

Expected dividend yield

Expected term (in years)

5 - 6

5 - 6

5 - 6

5 - 6

6

       
Named Executive Officers, Footnote

(1)

The CEO for 2024, 2023, 2022, 2021 and 2020 is Dr. Geoff McDonough. The Non-CEO NEOs for whom the average compensation is presented in this table for 2024 are Dr. Matthew Norkunas, Antoinette Paone, Dr. Phillip Samayoa and Dr. Matthew Stanton; for 2023 are Dr. Matthew Norkunas, Yalonda Howze, Dr. Douglas Kerr and Dr. Matthew Stanton; for 2022 and 2021 are Dr. Matthew Norkunas, Dr. Douglas Kerr, Dr. Matthew Stanton and Dr. Tracy Zimmermann; and for 2020 are Dr. Matthew Norkunas and Dr. Tracy Zimmermann.

       
Peer Group Issuers, Footnote

(3)

The peer group Total Shareholder Return utilizes the Nasdaq Biotechnology Index. Total Shareholder Return illustrates the value, as of the last day of the indicated fiscal year, of an investment of $100 in the company’s common stock on June 11, 2020 (the effective date of our Registration Statement on Form S-1 filed with the SEC in connection with our initial public offering).

       
PEO Total Compensation Amount $ 1,808,274 $ 2,315,263 $ 3,966,762 $ 5,885,495 $ 2,236,790
PEO Actually Paid Compensation Amount $ 1,504,218 1,315,854 2,370,563 (1,327,347) 19,820,002
Adjustment To PEO Compensation, Footnote

2024

2023

2022

2021

2020

Adjustments

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

Total Compensation from Summary Compensation Table

1,808,274

942,752

2,315,263

1,144,751

3,966,762

1,597,727

5,885,495

1,836,454

2,236,790

3,671,696

Adjustments for stock and option awards:

(Subtraction): Aggregate value for stock awards and option awards included in Summary Compensation Table for the covered fiscal year

(790,358)

(250,807)

(1,301,880)

(231,444)

(3,027,675)

(960,782)

(4,950,122)

(1,213,010)

(1,379,905)

(3,238,913)

Addition: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end

418,016

132,650

682,293

221,241

1,525,800

484,183

936,844

228,821

4,937,828

4,230,537

Addition (Subtraction): Change as of the end of the covered fiscal year (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end

(184,462)

(63,599)

(517,955)

(178,515)

(427,413)

(192,681)

(2,155,228)

(1,512,235)

10,123,149

597,037

Addition: Vesting date fair value of awards granted and vested during the covered fiscal year

468,057

148,537

Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year

252,748

86,567

138,133

58,490

(134,968)

(35,054)

(1,044,336)

(202,893)

3,902,140

121,969

Compensation Actually Paid (as calculated)

1,504,218

847,563

1,315,854

1,014,523

2,370,563

1,041,930

(1,327,347)

(862,863)

19,820,002

5,382,326

*Amounts presented are averages for the entire group of Non-CEO NEOs.

       
Non-PEO NEO Average Total Compensation Amount $ 942,752 1,144,751 1,597,727 1,836,454 3,671,696
Non-PEO NEO Average Compensation Actually Paid Amount $ 847,563 1,014,523 1,041,930 (862,863) 5,382,326
Adjustment to Non-PEO NEO Compensation Footnote

2024

2023

2022

2021

2020

Adjustments

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

CEO ($)

Non-CEO NEOs* ($)

Total Compensation from Summary Compensation Table

1,808,274

942,752

2,315,263

1,144,751

3,966,762

1,597,727

5,885,495

1,836,454

2,236,790

3,671,696

Adjustments for stock and option awards:

(Subtraction): Aggregate value for stock awards and option awards included in Summary Compensation Table for the covered fiscal year

(790,358)

(250,807)

(1,301,880)

(231,444)

(3,027,675)

(960,782)

(4,950,122)

(1,213,010)

(1,379,905)

(3,238,913)

Addition: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end

418,016

132,650

682,293

221,241

1,525,800

484,183

936,844

228,821

4,937,828

4,230,537

Addition (Subtraction): Change as of the end of the covered fiscal year (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end

(184,462)

(63,599)

(517,955)

(178,515)

(427,413)

(192,681)

(2,155,228)

(1,512,235)

10,123,149

597,037

Addition: Vesting date fair value of awards granted and vested during the covered fiscal year

468,057

148,537

Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year

252,748

86,567

138,133

58,490

(134,968)

(35,054)

(1,044,336)

(202,893)

3,902,140

121,969

Compensation Actually Paid (as calculated)

1,504,218

847,563

1,315,854

1,014,523

2,370,563

1,041,930

(1,327,347)

(862,863)

19,820,002

5,382,326

*Amounts presented are averages for the entire group of Non-CEO NEOs.

       
Equity Valuation Assumption Difference, Footnote

For the equity values included in the above tables, the valuation assumptions used to calculate fair values of stock options were materially different from those disclosed at the time of the grant of the stock options  due to the volatility of our stock prices. The assumptions used in determining fair value of the stock options that vested during 2024, 2023, 2022, 2021 and 2020, or that were outstanding as of December 31, 2024, 2023, 2022, 2021, and 2020 as applicable, are as follows:

Stock Options Vested During Year or Outstanding on December 31:

2024

2023

2022

2021

2020

Risk-free interest rate

3.42% - 4.74%

3.46% - 4.90%

1.35% - 4.26%

0.50% - 1.35%

0.38% - 1.75%

Expected volatility

107.04% - 108.93%

99.6% - 109.2%

90.2% - 95.2%

74.6% - 91.1%

72.6% - 82.66%

Expected dividend yield

Expected term (in years)

5 - 6

5 - 6

5 - 6

5 - 6

6

       
Total Shareholder Return Amount $ 4 7 16 29 115
Peer Group Total Shareholder Return Amount 107 109 105 118 118
Net Income (Loss) $ (131,782,503) $ (126,612,254) $ (136,639,466) $ (119,150,679) $ (80,523,002)
PEO Name Dr. Geoff McDonough Dr. Geoff McDonough Dr. Geoff McDonough Dr. Geoff McDonough Dr. Geoff McDonough
Risk-free interest rate Minimum 3.42% 3.46% 1.35% 0.50%  
Risk-free interest rate Maximum 4.74% 4.90% 4.26% 1.35%  
Expected volatility Minimum 107.04% 99.60% 90.20% 74.60%  
Expected volatility Maximum 108.93% 109.20% 95.20% 91.10%  
Expected term Minimum (in years) 5 years 5 years 5 years 5 years  
Expected term Maximum (in years) 6 years 6 years 6 years 6 years  
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (790,358) $ (1,301,880) $ (3,027,675) $ (4,950,122) $ (1,379,905)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 418,016 682,293 1,525,800 936,844 4,937,828
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (184,462) (517,955) (427,413) (2,155,228) 10,123,149
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 468,057 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 252,748 138,133 (134,968) (1,044,336) 3,902,140
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (250,807) (231,444) (960,782) (1,213,010) (3,238,913)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 132,650 221,241 484,183 228,821 4,230,537
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (63,599) (178,515) (192,681) (1,512,235) 597,037
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 148,537 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 86,567 $ 58,490 $ (35,054) $ (202,893) $ 121,969