STOCK-BASED COMPENSATION - Summary of Assumptions Used to Compute Fair Value of Options Granted (Details) - Stock options and restricted stock units - $ / shares |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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Employee Option | ||||
Stock-Based Compensation [Line Items] | ||||
Volatility | 79.01% | 84.11% | 79.82% | 84.56% |
Expected term in years | 6 years 29 days | 6 years 29 days | 6 years 18 days | 6 years 25 days |
Dividend rate | 0.00% | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 4.22% | 3.63% | 4.32% | 3.97% |
Fair value of option on grant date (in dollars per share) | $ 1.75 | $ 2.66 | $ 2.60 | $ 1.92 |
Nonemployee Option | ||||
Stock-Based Compensation [Line Items] | ||||
Volatility | 80.59% | 83.00% | 80.59% | 83.00% |
Expected term in years | 6 years 6 months | 5 years 3 months | 6 years 6 months | 5 years 3 months |
Dividend rate | 0.00% | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 4.35% | 3.89% | 4.35% | 3.89% |
Fair value of option on grant date (in dollars per share) | $ 2.71 | $ 2.42 | $ 2.71 | $ 2.42 |
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- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Expected term of award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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