Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

A summary of option activity under the 2019 Plan, 2024 Plan and the Inducement Plan is as follows:

	Number of Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2024		7,595,922		$	5.83		7.58	$	760
Options granted		687,679		$	3.08
Options exercised		(3,955	)	$	0.73
Options forfeited		(250,766	)	$	5.77
Options expired		(49,070	)	$	4.64
Outstanding at March 31, 2025		7,979,810		$	5.60		7.44	$	30
Exercisable at March 31, 2025*		1,813,209		$	4.54		4.46	$	30
Vested and expected to vest at March 31, 2025		7,979,810		$	5.60		7.44	$	30

* Includes 186,769 shares of unvested stock options for which the holders have the right to early exercise such options as of March 31, 2025.

Summary of Restricted Stock Units

	Number of RSUs			Weighted- Average Grant Rate Fair Value
Unvested at December 31, 2024		549,001		$	7.19
Granted - RSUs		112,000			2.70
Forfeited - RSUs		(25,834	)		6.88
Unvested at March 31, 2025		635,167		$	6.41

Schedule of Fair Value of Options Granted to Employees and Nonemployees Estimated using Black-Scholes Valuation Model using the Assumptions

The fair value of options granted was estimated using the Black-Scholes valuation model using the following assumptions for the three months ended March 31, 2025 and 2024, respectively:

	Three Months Ended March 31,
	2025	2024
Expected volatility	96.0% - 97.1%	93.0%
Expected dividend yield	0%	0%
Expected term (in years)	5.35 - 6.08	6.07 - 6.08
Risk-free interest rate	4.0% - 4.5%	4.1% - 4.2%

Schedule of Stock-based Compensation Expense

The following table presents the classification of stock-based compensation expense related to stock options granted (in thousands):

	Three Months Ended March 31,
	2025		2024
Research and development	$	806	$	581
General and administrative		1,355		1,697
Total stock-based compensation expense	$	2,161	$	2,278