v3.24.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

Stock option activity under the 2019 Equity Incentive Plan (the “2019 Plan”) is set forth below for the nine months ended September 30, 2024:

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Shares

 

 

Price Per

 

 

Term

 

 

Value

 

 

 

Outstanding

 

 

Share

 

 

(Years)

 

 

(in thousands)

 

Balances at December 31, 2023

 

 

4,099,947

 

 

$

21.00

 

 

 

7.6

 

 

$

23,206

 

Stock options granted

 

 

1,646,259

 

 

 

21.77

 

 

 

 

 

 

 

Stock options exercised

 

 

(14,374

)

 

 

4.67

 

 

 

 

 

 

 

Stock options forfeited

 

 

(514,712

)

 

 

23.38

 

 

 

 

 

 

 

Balances at September 30, 2024

 

 

5,217,120

 

 

$

21.05

 

 

 

7.2

 

 

$

3

 

Summary of RSU Activity

Restricted stock unit (“RSU”) activity under the 2019 Plan is set forth below for the nine months ended September 30, 2024:

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

 

Outstanding

 

 

Per Share

 

Balances at December 31, 2023

 

 

13,500

 

 

$

44.66

 

RSUs granted

 

 

—

 

 

 

—

 

RSUs vested and settled

 

 

(13,500

)

 

 

44.66

 

RSUs forfeited

 

 

—

 

 

 

—

 

Balances at September 30, 2024

 

 

—

 

 

$

—

 

Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized for options and RSUs granted to both employees and non-employees and for the 2019 Employee Stock Purchase Plan (the “2019 ESPP”) was as follows (in thousands):

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Research and development

 

$

1,988

 

 

$

1,916

 

 

$

7,257

 

 

$

5,892

 

General and administrative

 

 

2,576

 

 

 

2,413

 

 

 

8,089

 

 

 

6,770

 

Total stock-based compensation expense

 

$

4,564

 

 

$

4,329

 

 

$

15,346

 

 

$

12,662