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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Summary of Assumptions Used in Black-Scholes Option Pricing Model

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2022

    

2021

    

    

2022

    

2021

    

Risk-free interest rate

 

2.65% - 4.09%

0.92% - 1.01%

 

1.70% - 4.09%

0.66% - 1.23%

 

Expected volatility

 

77.7% - 78.2%

83.0% - 83.4%

 

77.7% - 81.9%

71.6% - 83.5%

 

Expected dividend yield

 

0%

0%

 

0%

0%

 

Expected life of employee and Board options (in years)

 

6.25

6.25

 

 

6.25

6.25

 

Summary of Compensation Expense Relating to Stock Options

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2022

    

2021

    

2022

    

2021

    

Research and development

$

1,719

$

1,833

$

5,380

$

5,228

General and administrative

 

1,149

 

1,205

 

5,137

 

3,444

Total stock option expense

$

2,868

$

3,038

$

10,517

$

8,672

Summary of Stock Option Activity

Weighted

Number of

Average Exercise

    

Shares

    

 Price

    

Outstanding, December 31, 2021

 

6,512,280

$

15.58

 

Granted

 

1,739,919

 

10.28

 

Exercised

 

(46,277)

 

6.26

 

Forfeited

 

(356,819)

 

14.50

 

Expired

 

(194,580)

 

16.21

 

Outstanding, September 30, 2022

 

7,654,523

$

14.47

Options exercisable, September 30, 2022

 

4,764,271

Employees And Non-Employee Members Of Board Of Directors [Member]  
Summary of Restricted Stock Unit Activity

Weighted

Number of

Average Grant

    

Units

    

Date Fair Value

Outstanding, December 31, 2021

 

576,544

$

17.50

Awarded

 

466,926

 

10.11

Vested and released

 

(206,518)

 

16.74

Forfeited

 

(196,002)

 

17.06

Outstanding, September 30, 2022

 

640,950

$

12.50

Restricted stock units exercisable (vested and deferred), September 30, 2022