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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Fair Value of Stock Options Issued to Employees

The fair value of stock option issued to employees was estimated at the date of grant using Black-Scholes with the following weighted-average assumptions:

Year Ended December 31, 

 

    

2022

    

2021

 

Expected volatility

 

110.1

%  

109.6

%

Expected term (years)

 

6.0

 

6.0

Risk-free interest rate

 

2.4

%  

0.8

%

Expected dividend yield

 

0.0

%  

0.0

%

Schedule of Information Related to Stock Options Outstanding

A summary of stock option activity under the Plans is presented below (in thousands, except share and per share data):

    

    

    

Weighted-Average

    

Weighted-

Remaining

Number of

Average

Contractual Term

Aggregate Intrinsic

Stock Options

Exercise Price

(Years)

Value

Outstanding, December 31, 2021

 

2,583,443

$

8.63

 

5.9

$

8,460

Granted

 

1,473,427

$

8.48

 

  

 

  

Exercised

 

(373,545)

$

2.65

 

  

 

  

Forfeited or expired

 

(299,388)

$

8.92

 

  

 

  

Outstanding, December 31, 2022

 

3,383,937

$

9.20

 

5.9

$

25,724

Exercisable, December 31, 2022

 

1,523,504

$

9.00

 

5.8

$

12,292

Vested and expected to vest, December 31, 2022

 

3,197,894

$

9.19

 

5.9

$

25,724

Summary of Restricted Stock Activity

A summary of restricted stock activities is presented below:

    

    

Weighted-

average

Grant Date

Shares

Fair Value

Unvested, December 31, 2021

 

74,000

$

3.59

Vested

 

(74,000)

 

3.59

Unvested, December 31, 2022

 

$

Schedule of Stock-based Compensation Expense

Stock-based compensation expense is classified in the accompanying consolidated statements of operations and comprehensive loss for the years ended December 31, 2022 and 2021 as follows (in thousands):

    

Year Ended December 31, 

2022

2021

Research and development

$

2,835

$

1,656

General and administrative

 

5,266

 

3,863

Total

$

8,101

$

5,519

Restricted Stock Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Restricted Stock Activity

    

    

Weighted-

average

Grant Date

Shares

Fair Value

Unvested, December 31, 2021

 

231,928

$

14.53

Granted

 

285,000

 

7.11

Vested

 

(61,028)

 

14.39

Forfeited or expired

(41,415)

10.95

Unvested, December 31, 2022

 

414,485

$

9.81