Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The estimated grant-date fair value of the Company’s stock options was calculated using the Black-Scholes option pricing model, based on the following assumptions:

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Expected term (in years)	5.5 - 6.1	6.1	5.5 - 6.1	5.9 - 6.1
Expected volatility	77.1%	67.7%	77.1% - 78.1%	67.7% - 69.9%
Risk-free interest rate	2.8% - 3.3%	1.0%	1.7% - 3.3%	0.6% - 1.1%
Expected dividend yield	—%	—%	—%	—%

Schedule of Stock-based Compensation Expense

Total stock-based compensation recognized for the periods presented is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Research and development	$	710	$	131	$	1,363	$	188
General and administrative		1,032		303		1,730		565
Total stock-based compensation expense	$	1,742	$	434	$	3,093	$	753

2012 and 2021 Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Option Activity

Stock option activity under the 2012 Plan and the 2021 Plan was as follows:

	Options Available for Grant			Number of Options Outstanding			Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
											(in thousands)
Outstanding as of January 1, 2022		2,673,582			4,028,461		$	8.81		8.40	$	60,089
Authorized		1,676,587			—			—
Granted		(631,520	)		631,520			17.67
Exercised		—			(206,130	)		2.29
Cancelled		61,590			(61,590	)		19.65
Outstanding as of June 30, 2022		3,780,239			4,392,261		$	10.24		8.25	$	26,189
Exercisable as of June 30, 2022					1,527,275		$	3.58		6.71	$	15,328