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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense by Classification
Stock-based compensation expense by classification included within the Consolidated Statements of Operations and Comprehensive Loss was as follows (in thousands):
Year Ended December 31,
202420232022
Research and development
$14,577 $18,207 $16,721 
General and administrative
18,567 28,877 65,203 
Total stock-based compensation expense
$33,144 $47,084 $81,924 
Schedule of PSU Activity
A summary of the Company’s PSU activity was as follows:
Performance-Based Restricted Stock Units Outstanding
Weighted-Average
Value at Grant
Date Per Share
Unvested PSUs as of December 31, 2023
— $— 
PSUs granted(1)
2,703,400 $1.88 
PSUs vested
— $— 
PSUs forfeited or canceled
— $— 
Unvested PSUs as of December 31, 2024
2,703,400 $1.88 
(1)     PSU grants reflect the target number of shares eligible to be earned at the time of grant.
Schedule of RSU Activity
A summary of the Company’s RSU activity was as follows:
Number of SharesWeighted-Average
Value at Grant Date
Per Share
Unvested RSUs as of December 31, 2023
2,072,855$2.96 
RSUs granted5,762,499 $1.54 
RSUs vested(1,259,344)$2.55 
RSUs forfeited or canceled(952,191)$2.19 
Unvested RSUs as of December 31, 2024
5,623,819 $1.72 
Schedule of Stock Option Activity
A summary of the Company’s stock option activity was as follows:
Number of
Stock
Options
Weighted-
Average
Exercise
Price
Per Share
Weighted-
Average
Remaining
Contractual
Life
(in years)
Aggregate
Intrinsic
Value (in thousands)
Options outstanding as of December 31, 2023
55,596,831 $4.75 6.89$7,368 
Granted
3,665,500 $1.90 
Exercised
(1,245,836)$0.12 
Canceled or forfeited
(13,229,412)$6.18 
Options outstanding as of December 31, 2024
44,787,083 $2.49 6.62$1,479 
Options exercisable as of December 31, 2024
30,273,806 $2.74 5.88$1,479 
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model for Estimating Fair Value of Stock Options Granted
The fair value of stock options granted to employees, directors and consultants was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted-average assumptions:
Year Ended December 31,
202420232022
Risk-free interest rate4.17 %4.13 %2.93 %
Expected volatility75.9 %88.0 %87.3 %
Expected term (in years)5.896.066.03
Expected dividend yield%%%