Stock-Based Compensation (Tables)

12 Months Ended

Dec. 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:

	Year Ended December 31,
	2024			2023
Expected term (in years)		6.0			6.0
Expected volatility		88.9	%		81.7	%
Risk-free interest rate		4.1	%		3.8	%
Dividend yield		—			—

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2024:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023		8,290,077		$	6.17		7.71	$	999
Granted		2,192,350			1.96
Vested and exercised		(10,299	)		4.90
Forfeited		(613,876	)		5.26
Expired		(713,103	)		6.16
Outstanding at December 31, 2024,		9,145,149			5.22		6.99	$	211
Exercisable at December 31, 2024		5,908,767		$	6.09		6.13	$	33

Summary of Unvested Restricted Stock Units Activity

The following table summarizes the Company's unvested restricted stock unit activity for the year ended December 31, 2024:

	Shares			Weighted-Average Grant Date Fair Value
Unvested at December 31, 2023		1,113,381		$	4.94
Granted		1,223,592			2.24
Vested		(752,558	)		4.49
Forfeited		(275,692	)		3.94
Unvested at December 31, 2024		1,308,723		$	2.89

Summary of Stock-Based Compensation Expense

Stock-based compensation expense was allocated as follows:

	Year Ended December 31,
(in thousands)	2024		2023
Research and development	$	4,728	$	6,831
General and administrative		5,119		6,531
Total stock-based compensation expense	$	9,847	$	13,362