v3.24.2.u1
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Option Activity

The following table summarizes stock option activity under the Equity Plans (excluding RSUs) during the six months ended June 30, 2024:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding as of December 31, 2023

 

 

2,865,594

 

 

$

10.89

 

 

 

5.76

 

 

$

1

 

Granted

 

 

35,604

 

 

 

1.52

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited or cancelled

 

 

(43,156

)

 

 

13.31

 

 

 

 

 

 

 

Outstanding as of June 30, 2024

 

 

2,858,042

 

 

$

10.74

 

 

 

5.04

 

 

$

1

 

Outstanding as of June 30, 2024 - vested and
   expected to vest

 

 

2,858,042

 

 

$

10.74

 

 

 

5.04

 

 

$

1

 

Exercisable at June 30, 2024

 

 

2,540,372

 

 

$

10.44

 

 

 

4.85

 

 

$

—

 
Summary of Share-Based Compensation Expense

The Company recorded share-based compensation expense related to incentive stock options, nonqualified stock options, stock grants, and stock-based awards in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expenses

 

$

729

 

 

$

589

 

 

$

1,419

 

 

$

1,387

 

General and administrative expenses

 

 

1,384

 

 

 

1,268

 

 

 

2,717

 

 

 

2,640

 

Total

 

$

2,113

 

 

$

1,857

 

 

$

4,136

 

 

$

4,027

 
Restricted Stock Units (RSUs) [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Activity of Options and RSUs of Performance-Based Options

The following table summarizes RSU activity under the Equity Plans during the six months ended June 30, 2024:

 

 

 

Number of
RSU Shares

 

 

Weighted Average Grant Date Fair Value

 

Outstanding as of December 31, 2023

 

5,368,807

 

 

$

2.45

 

Granted

 

3,410,996

 

 

 

1.56

 

Vested and released

 

(1,009,459

)

 

 

2.60

 

Forfeited or cancelled

 

(149,600

)

 

 

1.93

 

Outstanding as of June 30, 2024

 

7,620,744

 

 

$

2.04

 
Performance Shares [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Activity of Options and RSUs of Performance-Based Options

The following table summarizes Inducement PSU activity under the Equity Plans during the six months ended June 30, 2024:

 

 

 

Number of Inducement
PSU Shares

 

 

Weighted Average Grant Date Fair Value

 

Outstanding as of December 31, 2023

 

69,999

 

$

1.08

 

Granted

 

—

 

 

 

—

 

Vested and released

 

—

 

 

 

—

 

Forfeited or cancelled

 

—

 

 

 

—

 

Outstanding as of June 30, 2024

 

69,999

 

 

$

1.08