Graphite Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

A summary of option activity under the 2020 Plan and the 2021 Plan during the six months ended June 30, 2023 is as follows:


	Number of Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022		7,755,303		$	8.47		8.67	$	794
Options granted - 2021 Plan		2,996,400		$	2.19
Options exercised		(55,047	)	$	0.32
Options cancelled		(1,691,166	)	$	7.77
Outstanding as of June 30, 2023		9,005,490		$	6.56		6.9	$	1,467
Exercisable		3,602,188		$	7.98		6.0	$	348
Vested and expected to vest as of June 30, 2023		9,005,490		$	6.56		6.9	$	1,467

Components of Stock-based Compensation Expense

The following table presents the components of stock-based compensation expense for the Company’s stock-based awards for the periods presented (in thousands):


	Three Months Ended June 30,					Six Months Ended June 30,
	2023			2022		2023		2022
Restricted stock awards and founders’ common stock awards	$	2		$	2	$	4	$	4
ESPP		(14	)		112		95		258
Stock options		2,857			3,246		6,009		6,440
Total stock-based compensation expense	$	2,845		$	3,360	$	6,108	$	6,702

Classification of Stock-based Compensation Expense

The following table presents the classification of stock-based compensation expense for the Company’s stock-based awards for the periods presented (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Research and development expenses	$	747	$	1,259	$	1,867	$	2,632
General and administrative expenses		2,098		2,101		4,241		4,070
Total stock-based compensation expense	$	2,845	$	3,360	$	6,108	$	6,702