Stock-Based Compensation Expense (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense included in the Company’s consolidated statements of operations and comprehensive loss was as follows (in thousands):

	Year Ended December 31,
	2022		2021
Research and development	$	850	$	508
General and administrative		4,597		2,262
Total	$	5,447	$	2,770

Schedule of Unrecognized Stock-Based Compensation

The following table summarizes the Company’s unrecognized stock-based compensation as of December 31, 2022:

	Year Ended December 31,
	Unrecognized Expense (in thousands)		Period of Recognition (years)
Restricted stock units	$	105		3.2
Stock options		9,247		2.2
Total	$	9,352

Schedule of Fair Value of Stock Option Estimated on Date of Grant Using Black-Scholes Option-Pricing Model or Monte Carlo Simulation in Case of Options Granted to Executive Officers

The fair value of each stock option granted to employees, directors and non-employees was estimated on the date of grant using the Black-Scholes option-pricing model, or a Monte Carlo simulation in the case of the options granted to executive officers, with the following weighted-average assumptions:

	Year Ended December 31,
	2022			2021
Risk-free interest rate		2.7	%		0.7	%
Expected dividend yield		—	%		—	%
Expected term (in years)		6.0			6.0
Expected volatility		81.3	%		85.0	%

Summary of Stock Option Activity Under Plans

A summary of the stock option activity under the Plans for the year ended December 31, 2022 was as follows:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding December 31, 2021		1,662,861		$	10.34		7.6	$	918
Granted		2,828,474			5.19
Exercised		(2,718	)		2.76
Cancelled		(177,284	)		7.83
Outstanding at December 31, 2022		4,311,333		$	7.07		8.2	$	378
Exercisable at December 31, 2022		1,350,357		$	9.73		6.2	$	328
Vested and expected to vest at December 31, 2022		4,311,333		$	7.07		8.2	$	378