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EQUITY COMPENSATION PLAN (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense for stock options under the 2017 Plan consisted of the following (in thousands):
 NINE MONTHS ENDED
SEPTEMBER 30, 2024
Research and development$32,809 
General and administrative18,725 
Total stock-based compensation expense$51,534 
Stock-based compensation expense for stock options under the 2024 Plan consisted of the following (in thousands):
 THREE MONTHS ENDED
SEPTEMBER 30,		NINE MONTHS ENDED
SEPTEMBER 30,
2025202420252024
Research and development$2,048 $1,717 $4,886 $2,320 
General and administrative1,127 1,248 3,509 1,682 
Total stock-based compensation expense$3,175 $2,965 $8,395 $4,002 
Schedule of Stock Options Activity
A summary of the Company’s stock option activity under its 2024 Plan for the nine months ended September 30, 2025 is as follows (in thousands, except for per share data and years):
Number of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term
(In Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2024
3,660 $15.84 
Granted378 $17.86 
Exercised(22)$15.86 
Forfeited(426)$15.86 
Outstanding as of September 30, 2025
3,590 $16.05 8.7$63 
Vested and exercisable as of September 30, 2025
1,176 $15.84 8.3$21 
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value
The weighted-average assumptions used by the Company to estimate the fair value of stock option grants using the Black-Scholes option pricing model, as well as the resulting weighted-average fair value, for the nine months ended September 30, 2025 and September 30, 2024 were as follows:
 NINE MONTHS ENDED
SEPTEMBER 30,
20252024
Risk-free interest rate3.92 %4.56 %
Expected volatility86.70 %86.32 %
Expected dividend yield— %— %
Expected term (in years)5.996.06
Weighted average fair value$13.32 $11.89