Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity Under Plan

The following summarizes option activity under the 2018 Plan:


	Outstanding Options
	Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contract Term	Aggregate Intrinsic Value
				(in years)	(in thousands)
Balance as of December 31, 2024	24,184,884	$	8.14	7.53	$	1
Options granted	8,703,701	1.89		9.10

Options forfeited	(1,597,088)	6.16
Balance as of June 30, 2025	31,291,497	6.50		7.53	$	3
Exercisable as of June 30, 2025	19,654,961	8.82		6.57	$	—
Vested and expected to vest as of June 30, 2025	31,291,497	$	6.50	7.53	$	—

Schedule of Restricted Stock Units Activity Under Plan

The following summarizes restricted stock unit activity under the 2018 Plan:


	Outstanding Restricted Stock Units
	Restricted Stock Units	Weighted- Average Grant Date Fair Value per Share		Weighted Average Remaining Vesting Life	Aggregate Intrinsic Value
				(in years)	(in thousands)
Unvested balance as of December 31, 2024	13,343,793	$	4.87	1.58	$	28,422
Granted	8,991,043	1.85		3.68
Vested	(2,558,365)	6.32
Forfeited	(2,553,192)	4.23
Unvested balance as of June 30, 2025	17,223,279	3.18		2.70	$	19,462
Expected to vest, June 30, 2025	17,223,279	$	3.18	2.70	$	19,462

Stock-based Compensation Expense

For the three and six months ended June 30, 2025 and 2024, the following table presents stock-based compensation expense related to stock options, restricted stock units and employee stock purchase plans that was recorded as research and development and general and administrative expense in its condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Research and development	$	2,557	$	5,348	$	7,597	$	9,182
General and administrative	6,128		8,211		13,263		16,301
Total stock-based compensation	$	8,685	$	13,559	$	20,860	$	25,483

Allogene Therapeutics, Inc. 10-Q