Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Weighted-Average Assumptions Used Principally in Determining Fair Value of Options Granted

The weighted-average assumptions used principally in determining the fair value of options granted were as follows:

	Three Months Ended March 31,
	2024			2023
Expected term (in years)		6.0			6.0
Expected volatility		90.8	%		82.1	%
Risk-free interest rate		4.0	%		3.8	%
Dividend yield		—			—

Summary of Stock-Based Compensation Expense

Stock-based compensation expense was allocated as follows:

	Three Months Ended March 31,
(in thousands)	2024		2023
Research and development	$	1,405	$	2,354
General and administrative		1,676		1,714
Total stock-based compensation expense	$	3,081	$	4,068