XML 34 R28.htm IDEA: XBRL DOCUMENT v3.24.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2024:

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise
Price per
share

 

 

Weighted-
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Balance at December 31, 2023

 

 

1,376,596

 

 

$

1.80

 

 

 

9.83

 

 

$

6,249

 

Granted

 

 

2,645,079

 

 

 

13.05

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(23,350

)

 

 

4.24

 

 

 

 

 

 

 

Expired

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Options outstanding at September 30, 2024

 

 

3,998,325

 

 

$

9.23

 

 

 

9.35

 

 

$

44,985

 

Options vested and exercisable at September 30, 2024

 

 

281,573

 

 

 

2.15

 

 

 

8.61

 

 

 

5,110

 

Options vested and expected to vest at September 30, 2024

 

 

3,998,325

 

 

$

9.23

 

 

 

9.35

 

 

$

44,985

 
Summary of Restricted Stock Awards Grant Activity

The following table summarizes the Company’s service-based RSA grant activity for the nine months ended September 30, 2024:

 

 

RSAs

 

 

Weighted-
Average Grant
Date Fair Value

 

Unvested shares at December 31, 2023

 

 

1,585,998

 

 

$

3.64

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(470,944

)

 

 

3.56

 

Forfeited

 

 

—

 

 

 

—

 

Unvested shares at September 30, 2024

 

 

1,115,054

 

 

$

3.68

 
Summary of Performance-based RSA Grant Activity

The following table summarizes the Company’s performance-based RSA grant activity for the nine months ended September 30, 2024:

 

 

RSAs

 

 

Weighted-
Average Grant
Date Fair Value

 

Unvested shares at December 31, 2023

 

 

649,264

 

 

$

3.63

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(153,773

)

 

 

3.63

 

Forfeited

 

 

—

 

 

 

—

 

Unvested shares at September 30, 2024

 

 

495,491

 

 

$

3.63

 

 
Summary of Share-based Compensation Expense The following table below summarizes the classification of the Company’s stock-based compensation expense related to stock options and restricted common stock awards in the consolidated statements of operations and comprehensive loss (in thousands):

 

 

For the Three Months
Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

General and Administrative

 

$

1,990

 

 

$

428

 

 

$

4,110

 

 

$

1,125

 

Research and Development

 

 

1,192

 

 

 

431

 

 

 

2,917

 

 

 

1,402

 

 

$

3,182

 

 

$

859

 

 

$

7,027

 

 

$

2,527