v3.25.0.1
Collaboration and License Agreements (Tables)
12 Months Ended
Dec. 31, 2024
Collaboration And License Agreements Disclosure [Abstract]  
Summary of All Possible Stock Price Appreciation Milestone Payments

The following table summarizes the common stock multiples and the stock price appreciation milestone payments under the terms of the agreement:

 

Common stock multiple

 

5.0x

 

 

10.0x

 

 

15.0x

 

Ten-trading day trailing average common stock price

 

$

50.18

 

 

$

100.36

 

 

$

150.54

 

Stock price appreciation milestone payment (in millions)

 

$

20.0

 

 

$

30.0

 

 

$

25.0

 

Schedule of Determine the Estimated Fair Value of the Stock Price Appreciation Milestones Payments

 

 

Year Ended
December 31,

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

Risk-free interest rate

 

 

4.8

%

 

 

4.0

%

Expected volatility

 

 

85.3

%

 

 

84.0

%

Estimated term (in years)

 

 

14.0

 

 

 

15.0

 

Closing stock price as of measurement date

 

$

1.65

 

 

$

3.74