Equity Incentive Plan and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Total Stock-Based Compensation

The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed statements of operations and comprehensive loss during the three and nine months ended September 30, 2023 and 2022 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Research and development expenses	$	1,045	$	446	$	3,113	$	1,087
General and administrative expenses		1,124		782		3,067		1,832
Total	$	2,169	$	1,228	$	6,180	$	2,919

Summary of Stock Plan Activity

A summary of the stock plan activity is as follows:

	Total Options Outstanding			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life		Aggregate Intrinsic Value
Outstanding at December 31, 2022		2,796,241		$	10.13		8.81	$	5,793
Granted		1,093,894		$	12.40
Exercised		(15,000	)	$	6.60
Forfeited		(53,266	)	$	10.45
Outstanding at September 30, 2023		3,821,869		$	10.79		8.37	$	21,409
Exercisable as of September 30, 2023		1,602,693		$	8.98		7.72	$	11,851