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Stock-Based and Incentive Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense Included in Company's Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
The following table presents stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) (in thousands):
Three Months Ended
March 31,
20222021
Research and development expense$177 $323 
Selling, general and administrative expense2,292 1,276 
Total stock-based compensation expense$2,469 $1,599 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The weighted-average assumptions used to determine the fair value of the stock option grants is as follows:
Three Months Ended
March 31,
20222021
Volatility62.0 %63.2 %
Risk-free interest rate2.1 %0.7 %
Expected dividend yield0.0 %0.0 %
Expected life of options (in years)5.85.8
Schedule of Share-based Compensation, Stock Options, Activity
A summary of stock option activity for the three months ended March 31, 2022 is as follows:
Number
of Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in thousands)
Outstanding at December 31, 2021
2,051,484 $10.92 5.12$303 
Granted147,660 $3.20 
Exercised(1,646)$3.58 
Cancelled or forfeited(33,816)$15.63 
Outstanding at March 31, 2022
2,163,682 $10.32 5.19$— 
Exercisable at March 31, 2022
1,775,194 $11.56 4.33$— 
Schedule of Share-based Compensation, Restricted Stock Unit, Activity
A summary of RSU activity for the three months ended March 31, 2022 is as follows:
Number
of Shares
Weighted
Average
Grant Date
Fair Value
Unvested balance at December 31, 2021
4,920,063 $5.82 
Granted2,779,840 3.16 
Released(426,582)6.12 
Forfeited(201,388)5.60 
Unvested balance at March 31, 2022
7,071,933 $4.76