Common Stock (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Summary of Stock Option Activity

A summary of the stock option activity is presented below:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding as of January 1, 2023		6,013,384		$	6.60		7.8	$	22,202
Granted		2,707,650			11.48
Exercised		(489,672	)		4.74				4,640
Forfeited/Cancelled		(90,327	)		11.74
Outstanding as of December 31, 2023		8,141,035		$	8.28		7.6	$	117,384
Options Exercisable at December 31, 2023		3,858,411		$	7.16		6.4	$	59,977

Summary of Assumptions Used to Estimate Fair Value of Stock Options

The fair value of each award is estimated using Black-Scholes based on the following assumptions:

	Year Ended December 31,
	2023	2022
Risk-free interest rate	3.38%—4.68%	1.47%—4.18%
Expected term	5.5 years—6.1 years	5.5 years—6.1 years
Expected volatility	105%—107%	79%—83%
Expected dividend yield	0%	0%

Summary of Stock-Based Compensation

The Company has recorded stock-based compensation in the accompanying statements of operations as follows:

	Year Ended December 31,
	2023		2022
Research and development	$	5,520	$	3,339
General and administrative		5,823		3,558
Total	$	11,343	$	6,897