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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Weighted-Average Assumptions Used Principally in Determining Fair Value of Options Granted The weighted-average assumptions used principally in determining the fair value of options granted were as follows:

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

Expected term (in years)

 

 

5.9

 

 

 

6.0

 

Expected volatility

 

 

89.8

%

 

 

81.9

%

Risk-free interest rate

 

 

4.2

%

 

 

3.7

%

Dividend yield

 

 

 

 

 

 

Summary of Stock-Based Compensation Expense

Stock-based compensation expense was allocated as follows:

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

(in thousands)

 

2024

 

 

2023

 

2024

 

 

2023

 

Research and development

 

$

1,272

 

 

$

2,463

 

$

2,677

 

 

$

4,817

 

General and administrative

 

 

1,521

 

 

 

1,775

 

 

3,197

 

 

 

3,489

 

Total stock-based compensation expense

 

$

2,793

 

 

$

4,238

 

$

5,874

 

 

$

8,306