Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity during the year ended December 31, 2022:

	Options Outstanding			Weighted-average Exercise Price		Weighted-average Remaining Contractual Term (in years)		Weighted-average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021		5,623,116		$	7.72		8.3			$	6,075
Granted		3,291,330		$	2.54			$	1.86
Exercised		(56,897	)	$	2.37
Canceled/forfeited		(1,631,914	)	$	7.07
Outstanding at December 31, 2022		7,225,635		$	5.55		8.0			$	—
Exercisable at December 31, 2022		3,340,108		$	5.68		7.2			$	—
Vested or expected to vest at December 31, 2022		7,225,635		$	5.55		8.0			$	—

Summary of Fair Value of Option Grant Estimated Using Black-Scholes Option-Pricing Model

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

	Years Ended December 31,
	2022				2021
Expected volatility		88-93		%	89-95		%
Risk-free interest rate		1.7-4.3		%	0.6-1.4		%
Expected option life (in years)		5.0-6.1			5.8-6.1
Expected dividend yield			0.0	%		0.0	%
Fair value per share of common stock		$0.98-$2.75			$3.04-$22.07

Summary of Components of Stock-Based Compensation Expense Recognized

The following table summarizes the components of stock-based compensation expense recognized in the Company’s statement of operations and comprehensive loss (in thousands):

	Years Ended December 31,
	2022		2021
Research and development	$	4,109	$	4,460
General and administrative		5,467		4,040
Total	$	9,576	$	8,500

Summary of Restricted Stock Awards Activity

The following table summarizes the activity of the restricted stock awards during the year ended December 31, 2022:

	RSU Outstanding			Weighted-average Grant Date Fair Value
Outstanding at December 31, 2021		336,000		$	4.51
Granted		—
Vested		(80,533	)	$	4.51
Canceled/forfeited		(133,600	)	$	4.51
Outstanding at December 31, 2022		121,867		$	4.51