Stock Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation

Stock-based compensation expense by classification included within the consolidated statements of operations and comprehensive income (loss), including $1.5 million recognized as stock-based compensation expense upon the achievement of a technical milestone by Ginkgo Bioworks Holdings, Inc., or Ginkgo, during the three and six months ended June 30, 2023 and $1.0 million recognized as stock-based compensation expense upon the issuance of common stock to Ginkgo during the three and six months ended June 30, 2022 as described in Note 14, was as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Research and development	$	2,677	$	2,021	$	3,869	$	3,039
General and administrative		1,106		1,543		2,190		3,278
Total stock-based compensation expense	$	3,783	$	3,564	$	6,059	$	6,317

Schedule of Weighted Average Assumptions Used

The estimated grant date fair values of employee stock option awards granted under the 2016 Plan and the 2018 Inducement Incentive Award Plan were calculated using the Black-Scholes option pricing model, based on the following weighted-average assumptions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Risk-free interest rate		3.38	%		3.26	%		3.95	%		1.63	%
Dividend yield		—			—			—			—
Expected term		6.00			6.05			5.94			6.03
Expected volatility		94.40	%		92.03	%		94.64	%		91.85	%
Weighted-average fair value of common stock	$	1.31		$	1.29		$	1.15		$	3.10

Schedule of Options Activity

The following table summarizes the stock option activity under the 2008 Plan, the 2016 Plan, and the 2018 Inducement Incentive Award Plan:

	Number of options			Weighted-average exercise price ($)		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value (in thousands)
Employees
Outstanding at December 31, 2022		15,578,412		$	3.44		7.57	$	4
Granted		5,477,200		$	1.15
Forfeited		(1,207,712	)	$	2.84
Outstanding at June 30, 2023		19,847,900		$	2.85		7.93	$	1
Vested at June 30, 2023		8,956,975		$	3.92		6.68	$	1
Vested and expected to vest at June 30, 2023		18,564,837		$	2.93		7.84	$	1
Non-employee consultants
Outstanding at December 31, 2022		266,239		$	8.05		5.08	$	—
Outstanding at June 30, 2023		266,239		$	8.05		4.58	$	—
Vested at June 30, 2023		266,239		$	8.05		4.58	$	—
Vested and expected to vest at June 30, 2023		266,239		$	8.05		4.58	$	—

Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table summarizes the Company’s restricted stock units under the 2016 Plan and 2018 Inducement Incentive Award Plan:

	Number of shares			Weighted average grant date fair value ($)
Unvested at December 31, 2022		1,705,558		$	2.62
Granted		1,054,600			1.13
Vested		(277,193	)		3.22
Forfeited		(71,173	)		1.99
Unvested at June 30, 2023		2,411,792		$	1.92