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Warrants
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Warrants
As of September 30, 2022, the following warrants for common stock were issued and outstanding:
Issue dateExpiration dateExercise price Number of warrants outstanding
January 11, 2017None$0.001 3,578,036 
November 20, 2017None$0.001 3,669,360 
June 11, 2018None$0.001 358,415 
7,605,811 
During the three and nine months ended September 30, 2022, no warrants were exercised. During the three months ended September 30, 2021, no warrants were exercised. During the nine months ended September 30, 2021, 623,821 warrants for shares of the Company’s common stock were exercised via cashless exercise, resulting in the issuance of 623,814 shares of common stock.
Sale of Common Stock    

In November 2021, the Company sold 3,448,275 shares of its common stock at a public offering price of $145.00 per share. After deducting underwriter discounts, commissions and estimated offering expenses, the Company received net proceeds from the transaction of $474.7 million.
At the Market Facility

On July 2, 2020, the Company entered into a sales agreement pursuant to which the Company may, from time to time, sell shares of the Company's common stock, par value $0.001 per share, having an aggregate offering price of up to $200.0 million. On July 2, 2021, the Company entered into an amended and restated sales agreement pursuant to which the Company may, from time to time, sell shares of the Company’s common stock, par value $0.001 per share, having an aggregate offering price of up to $500.0 million. During the three and nine months ended September 30, 2022, the Company sold 1,880,097 shares of common stock under this sales agreement generating net proceeds of $155.0 million. As of September 30, 2022, the Company has sold 1,880,097 shares of common stock under this sales agreement. As of September 30, 2021, no shares of common stock were sold pursuant to this agreement.

Share-based Compensation

Total share-based compensation expense by statement of operations and comprehensive loss classification is presented below (in thousands):
Three Months Ended September 30,
Nine Months Ended September 30,
2022202120222021
Research and development expense$28,276 $15,701 $77,343 $46,704 
General and administrative expense14,716 11,232 47,238 32,920 
$42,992 $26,933 $124,581 $79,624 
    
During the three and nine months ended September 30, 2022, 96,041 and 301,877 shares of common stock were issued under the Company’s equity incentive plans, generating net proceeds of $2.1 million and $5.0 million, respectively. During the three and nine months ended September 30, 2021, 158,139 and 695,171 shares of common stock were issued under the Company’s equity incentive plans, generating net proceeds of $8.2 million and $24.7 million, respectively.

During the nine months ended September 30, 2022, 29,891 shares of common stock were issued under the Company's ESPP, generating net proceeds of $1.0 million. During the nine months ended September 30, 2021, 9,029 shares of common stock were issued under the Company's ESPP, generating net proceeds of $1.2 million.