Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2021:

	NUMBER OF SHARES			WEIGHTED- AVERAGE EXERCISE PRICE		WEIGHTED- AVERAGE REMAINING CONTRACTUAL TERM		INTRINSIC VALUE
						(in years)		(in thousands)
Outstanding at December 31, 2021		4,339,523		$	9.75		7.68	$	8,823
Granted		1,962,387			6.46
Exercised		(14,757	)		1.95
Forfeited or canceled		(195,726	)		10.85
Outstanding at March 31, 2022		6,091,427		$	8.67		8.02	$	1,298
Vested and expected to vest at March 31, 2022		6,091,427		$	8.67		8.02	$	1,298
Options exercisable at March 31, 2022		2,306,348		$	7.23		6.03	$	1,247

Summary of Stock-Based Compensation Expense

Stock-based compensation expense related to stock options was classified in the consolidated statements of operations as follows (in thousands):

	THREE MONTHS ENDED MARCH 31,
	2022		2021
Research and development expenses	$	655	$	562
General and administrative expenses		1,292		1,019
	$	1,947	$	1,581