Common Stock and Stock-Based Awards (Tables)

3 Months Ended

Mar. 31, 2022

Equity [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		Aggregate Intrinsic Value
						(in years)
Outstanding as of December 31, 2021		11,517,189		$	11.10		7.42	$	28,006,768
Granted		3,638,997			7.41
Exercised		(92,478	)		2.78
Forfeited		(243,395	)		10.19
Outstanding as of March 31, 2022		14,820,313		$	10.26		7.78	$	19,851,760
Options exercisable as of March 31, 2022		6,183,983		$	9.53		6.01	$	12,878,550

Summary of Restricted Stock Unit Activity

The Company has granted restricted stock units ("RSUs") with time-based vesting conditions. The table below summarizes the Company’s restricted stock unit activity since December 31, 2021:

	Number of Shares			Weighted Average Grant Date Fair Value
Unvested restricted stock units as of December 31, 2021		734,755		$	17.68
Granted		989,544		$	7.43
Vested		(69,195	)	$	24.32
Forfeited		(72,463	)	$	13.11
Unvested restricted stock units as of March 31, 2022		1,582,641		$	11.19

Summary of Stock Based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive (loss) income (in thousands):

	Three Months Ended March 31,
	2022		2021
Research and development expenses	$	2,483	$	2,137
General and administrative expenses		2,596		1,487
	$	5,079	$	3,624