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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Summary of Assumptions Used in Black-Scholes Option Pricing Model

 

Year Ended December 31, 

    

2023

    

2022

    

2021

 

Risk-free interest rate

 

3.38% - 4.65

%  

1.70% - 4.21

%  

0.66% - 1.41

%

Expected volatility

 

76.3% - 81.3

%  

77.7% - 81.9

%  

71.6% - 83.5

%

Expected dividend yield

 

0

%  

0

%  

0

%

Expected life of employee and Board options (in years)

 

6.25

 

6.25

 

6.25

Summary of Compensation Expense Relating to Stock Options

Year Ended December 31, 

    

2023

    

2022

    

2021

Research and development

$

5,973

$

7,222

$

7,126

General and administrative

 

5,634

 

6,426

 

9,569

Total stock option expense

$

11,607

$

13,648

$

16,695

Summary of Stock Option Activity

A summary of the Company’s stock option activity related to employees, non-employee members of the Board of Directors and non-employee consultants for the 2019 Plan and the 2014 Plan as of and for the year ended December 31, 2023 is as follows:

Weighted

Aggregate

Number of

Average Exercise

Intrinsic

    

Shares

    

 Price

    

Value

Outstanding, December 31, 2022

 

7,689,449

$

14.35

 

  

Granted

 

2,004,668

 

8.15

 

  

Exercised

 

(93,218)

 

6.00

 

  

Forfeited

 

(286,035)

 

9.25

 

  

Expired

 

(1,417,217)

 

14.74

 

  

Outstanding, December 31, 2023

 

7,897,647

$

12.99

$

Weighted average remaining contractual life as of December 31, 2023 (in years)

 

6.71

 

  

 

  

Options exercisable, December 31, 2023

 

4,840,045

$

14.69

$

Weighted average remaining contractual life as of December 31, 2023 (in years)

 

5.46

 

  

 

  

Options vested and expected to vest as of December 31, 2023

 

7,897,647

$

12.99

$

Weighted average remaining contractual life as of December 31, 2023 (in years)

 

6.71

 

  

 

  

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

A summary of restricted stock unit activity related to employees and non-employee members of the Company’s Board of Directors as of and for the year ended December 31, 2023 is as follows:

Weighted

Number of

Average Grant

    

Units

    

Date Fair Value

Outstanding, December 31, 2022

 

372,513

$

13.20

Awarded

 

601,172

 

7.81

Vested and released

 

(203,264)

 

12.46

Forfeited

 

(204,097)

 

8.96

Outstanding, December 31, 2023

 

566,324

$

9.27

Restricted stock units exercisable (vested and deferred), December 31, 2023