Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

Stock Option Activity

	Outstanding Stock Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(in thousands, except per share amounts and years)
Outstanding as of December 31, 2023		13,783		$	6.39		8.7	$	146,966
Granted		3,557			16.23
Exercised		(1,664	)		3.76
Canceled and forfeited		(1,368	)		7.52
Expired		(137	)		3.62
Outstanding as of September 30, 2024		14,171		$	9.08		8.5	$	72,957
Vested as of September 30, 2024		4,688		$	5.64		7.7	$	36,184
Exercisable as of September 30, 2024		4,732		$	5.63		7.7	$	36,565

Summary of Restricted Stock Activity

The following table summarizes the Company’s restricted stock activity:

	Shares of Restricted Common Stock			Weighted- Average Grant Date Fair Value Per Share		Shares of Restricted Stock Units			Weighted- Average Grant Date Fair Value Per Share
	(in thousands, except per share amounts)
Outstanding and unvested as of December 31, 2023		840		$	6.11		353		$	17.00
Granted		414			14.22		1,265			17.43
Vested		(583	)		8.44		(88	)		17.00
Forfeited and expired		—			—		—			—
Cancelled		(263	)		6.41		(72	)		18.07
Outstanding and unvested as of September 30, 2024		408		$	10.82		1,458		$	17.32

Summary of Stock-Based Compensation Expense Recognized

The following table summarizes total stock-based compensation included in the Company’s condensed consolidated statements of operations and comprehensive loss:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Research and development	$	3,893	$	2,184	$	13,857	$	5,142
General and administrative		6,053		4,267		16,230		6,047
Total stock-based compensation	$	9,946	$	6,451	$	30,087	$	11,189