Collaboration and License Agreements (Tables)

6 Months Ended

Jun. 30, 2022

Collaboration And License Agreements Disclosure [Abstract]

Summary of all Possible Stock Price Appreciation Milestone Payments

The following table summarizes the common stock multiples and the stock price appreciation milestone payments under the terms of the agreement:

Common stock multiple	5.0x		10.0x		15.0x
Ten-trading day trailing average common stock price	$	50.18	$	100.36	$	150.54
Stock price appreciation milestone payment (in millions)	$	20.0	$	30.0	$	25.0

Schedule of Determine the Estimated Fair Value of the Stock Price Appreciation Milestones Payments

The following variables were incorporated in the calculation of the estimated fair value of the stock price appreciation milestones as of June 30, 2022:

	As of June 30,			As of December 31,
	2022			2021
Risk-free interest rate		3.2	%		1.7	%
Expected volatility		78.3	%		77.6	%
Estimated term (in years)		16.5			17.0
Closing stock price as of remeasurement date	$	24.78		$	58.51