Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity during the year ended December 31, 2022:

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2022	1,749,876	$	20.71	8.48	$	10,007
Granted	1,583,038	15.28
Exercised	(132,084)	3.04
Expired/cancelled	(210,407)	20.61
Outstanding as of December 31, 2022	2,990,423	$	19.28	8.59	$	2,849
Options exercisable as of December 31, 2022	722,198	$	18.53	6.84	$	2,251
Vested and expected to vest as of December 31, 2022	2,990,423	$	19.28	8.59	$	2,849

Summary of Recognized Compensation Cost Related to Employee and Non-employee Stock-Based Compensation Activity

The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (amounts in thousands):

	Year Ended December 31,
	2022		2021
Selling, general and administrative	$	6,333	$	1,449
Research and development	3,310		657
Total	$	9,643	$	2,106

Stock Options Valuation Assumptions

The calculation was based on the following assumptions:

	Year Ended December 31,
	2022	2021
Weighted average grant date fair value (per share)	$12.20	$18.88
Risk-free interest rate	1.46% - 4.23%	0.84% - 1.38%
Expected volatility	85.91% - 89.35%	85.21% - 87.88%
Expected term (in years)	5.5 - 6.1	5.1 - 6.3
Expected dividend yield	—	—