Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense for the three months ended March 31, 2022 and 2021 was classified in the Company’s condensed consolidated statement of operations and comprehensive loss as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Stock-based compensation expense:
Research and development	$	3,612	$	1,171
General and administrative		5,326		2,674
Total stock-based compensation expense	$	8,938	$	3,845

Summary of Stock Option Activity

The following table summarizes the stock option activity under the Company’s equity awards plans for the three months ended March 31, 2022:

	Number of Stock Options			Weighted-Average Exercise Price
Outstanding as of December 31, 2021		5,983,425		$	22.33
Granted		1,576,000			23.57
Exercised		(52,707	)		4.96
Cancelled or forfeited		(185,227	)		30.96
Outstanding as of March 31, 2022		7,321,491		$	22.72
Options exercisable as of March 31, 2022		1,668,108		$	18.45
Vested and expected to vest as of March 31, 2022		7,321,491		$	22.72

Summary of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity under the Company’s equity awards plans for the three months ended March 31, 2022:

	Shares		Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2021		—	$	—
Granted		563,500		25.47
Outstanding as of March 31, 2022		563,500	$	25.47