Common Stock and Stock-Based Awards (Tables)

6 Months Ended

Jun. 30, 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		4,161,997			7.00
Exercised		(131,686	)		2.94
Forfeited		(560,457	)		10.41
Outstanding as of June 30, 2022		14,987,043		$	10.06		7.65	$	854,131
Options exercisable as of June 30, 2022		6,696,344		$	10.10		6.11	$	589,051

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		1,109,894		$	7.20
Vested		(126,626	)	$	22.54
Forfeited		(139,402	)	$	12.42
Unvested restricted stock units as of June 30, 2022		1,578,621		$	10.38

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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Research and development expenses	$	3,430	$	2,709	$	6,026	$	4,846
General and administrative expenses		3,318		2,369		5,801		3,856
	$	6,748	$	5,078	$	11,827	$	8,702