Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of stock option activity for awards under the 2020 Plan is presented below:

	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Lives (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022	1,065,984	$	1.88	6.8	$	12,585
Granted	817,954	$	6.24	—
Outstanding as of December 31, 2023	1,883,938	$	3.76	7.4	$	18,691
Exercisable as of December 31, 2023	1,468,367	$	3.12	6.9	$	15,536
Vested and expected to vest	1,919,362	$	3.76	7.4	$	19,054

Schedule of Share-Based Compensation Expense

Share-based compensation expense was as follows (in thousands):

	Year Ended December 31,
	2022		2023
Selling, general and administrative	$	568	$	900
Research and development	153		443
Total	$	721	$	1,343

Share-based compensation expense was as follows (in thousands):

	Six Months Ended June 30,
	2024		2023
Selling, general and administrative	$	1,988	$	235
Research and development	$	556	96
Total	$	2,544	$	331

Schedule of Valuation Assumptions

The assumptions used in the Black-Scholes option pricing model for stock options granted were as follows:

	December 31
	2022	2023
Expected term	6.0 years	6.0 years
Expected volatility	92.8% - 96.6%	92.0% - 92.7%
Risk free interest rate	1.9% - 4.2%	3.9% - 4.6%
Expected dividend yield	0.0%	0.0%