Share-Based Compensation (Tables)

9 Months Ended

Jul. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used to Determine Grant-Date Fair Value of Stock Options

The assumptions that the Company used to determine the grant-date fair value of stock options during the three and nine months ended July 31, 2024 and 2023 are summarized below:

	Three months ended July 31,				Nine months ended July 31,
	2024		2023		2024		2023
Expected term (in years)	5.51 - 6.08		5.2 - 6.08		5.51- 6.08		5.12 - 6.08
Expected volatility	81.64 - 82.33%		80.02 - 81.48%		78.24 - 82.33%		80.02 - 82.70%
Risk-free interest rate	4.16 - 4.22%		4.29 - 4.35%		4.16 - 4.66%		3.56 - 4.35%
Expected dividend yield		—		—		—		—
Fair value of common shares and exercise price of options (USD)	$ 8.65 - 9.00		$	1.06	$ 7.66 - 17.80		$ 0.38 - 1.06
Fair value of common shares and exercise price of options (CAD)	N/A		$	0.79	N/A		$ 0.28 - 0.79

Summary of Stock Option Activity

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

	Number of Shares			Weighted- Average Exercise Price (USD)		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding as of October 31, 2023		2,706,941		$	2.40		8.1	$	52,192
Granted		3,025,200			10.44
Exercised		(113,964	)		0.89
Forfeited or expired		(92,792	)		7.63
Outstanding as of July 31, 2024		5,525,385		$	6.67		7.7	$	20,720
Vested and exercisable as of July 31, 2024		2,467,941		$	2.29		5.1	$	17,791
Options unvested as of July 31, 2024		3,057,444		$	10.20		9.7	$	2,929

Summary of Share-based Compensation Expense

Share-based compensation expense included in the Company’s consolidated statements of operations and comprehensive loss was as follows:

	Three months ended July 31,				Nine months ended July 31,
	2024		2023		2024		2023
Research and development	$	776	$	7	$	1,306	$	19
General and administrative		684	30			2,362	77
Total share-based compensation expense	$	1,460	$	37	$	3,668	$	96