Stock-based awards (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of assumptions used to determine grant-date fair value of stock options granted

The assumptions that the Company used to determine the grant-date fair value of stock options granted to employees, directors and consultants as follows, presented on a weighted average basis:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Expected term (in years)		5.86			5.63			5.92			5.88
Expected volatility		86.83	%		78.90	%		86.22	%		78.05	%
Weighted average risk-free interest rate		4.56	%		3.87	%		4.29	%		3.85	%
Expected dividend yield		0.00	%		0.00	%		0.00	%		0.00	%

Summary of stock option activity

The following table summarizes the Company’s stock option activity since December 31, 2023:

				Weighted-		Weighted-
				Average		Average		Aggregate
				Exercise		remaining		Intrinsic
	Number			Price per		contractual		Value
	of Options			Share		term (years)		(000's)
Balance outstanding, December 31, 2023		6,899,977		$	22.35		7.67	$	35,133
Options granted		934,225		$	22.21
Options exercised		(233,655	)	$	7.59
Options cancelled		(8,125	)	$	44.93
Balance outstanding, June 30, 2024		7,592,422		$	22.76		7.54	$	33,309
Vested and expected to vest, June 30, 2024		7,592,422		$	22.76		7.54	$	33,309
Exercisable, June 30, 2024		4,535,766		$	20.76		6.55	$	26,110

Summary of restricted stock activity

The following table summarizes the Company’s RSUs activity since December 31, 2023:

				Weighted-		Weighted-
				Average		Average		Aggregate
				Grant Date		remaining		Intrinsic
	Underlying			Fair Value per		contractual		Value
	shares			Share		term (years)		(000's)
Balance outstanding, December 31, 2023		371,952		$	28.53		1.98	$	8,685
Granted		245,413		$	23.48
Vested		(51,324	)	$	29.98
Cancelled or forfeited		—		$	—
Balance outstanding, June 30, 2024		566,041		$	26.21		1.74	$	13,279

Summary of stock-based compensation expense

The following table summarizes the Company’s stock-based compensation expense 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
Classified within research and development expense	$	2,863	$	1,802	$	5,584	$	3,499
Classified within general and administrative expense		4,793		2,996		9,470		6,143
Total stock-based compensation expense	$	7,656	$	4,798	$	15,054	$	9,642