XML 40 R27.htm IDEA: XBRL DOCUMENT v3.25.1
Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation
The following table summarizes stock-based compensation expense by financial statement line item in the Company’s condensed consolidated statements of operations and comprehensive loss for the periods presented (in thousands):
 Three Months Ended March 31,
 20252024
Research and development$8,993 $23,192 
General and administrative9,734 17,590 
Cost of Biosecurity revenue735 — 
Cost of other revenue969 — 
Total$20,431 $40,782 
Summary of Stock Option Activity
A summary of stock option activity for options that are subject to time-based vesting conditions for the three months ended March 31, 2025 is presented below:
 
Number of
Shares
Weighted
Average
Exercise
Price
per Share
Weighted
Average
Remaining
Contractual
Term
(in Years)
Aggregate
Intrinsic
Value (1)
(in Thousands)
Outstanding as of December 31, 2024267,520$25.17 
Forfeited(6,208)92.08 
Outstanding as of March 31, 2025261,31223.58 9.18$— 
Exercisable as of March 31, 202527,33995.35 7.75— 
(1)The aggregate intrinsic value is calculated as the difference between the Company's closing stock price on the last trading day of the quarter and the exercise prices, multiplied by the number of in-the-money stock options.
Summary of RSU and RSA Activity
A summary of the RSU activity for the three months ended March 31, 2025 is presented below:
 Number of
Shares
Weighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 20243,327,398$69.00 
Granted1,119,363 7.95 
Vested(332,364)88.02 
Forfeited(404,208)64.01 
Nonvested as of March 31, 20253,710,18949.42 
Summary of Activity for Earnout RSA
A summary of activity during the three months ended March 31, 2025 for the earnout shares is presented below:
 
Number of
Shares
Weighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 2024552,457$510.80 
Vested(97)533.60 
Forfeited(35)516.11 
Nonvested as of March 31, 2025552,325510.80