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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Compensation Related Costs [Abstract]  
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity:

 

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

(in years)

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Outstanding as of December 31, 2021

 

 

2,373,024

 

 

$

9.63

 

 

 

8.19

 

 

$

—

 

Granted

 

 

442,339

 

 

 

1.38

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(30,651

)

 

 

8.12

 

 

 

 

 

 

 

 

 

Outstanding as of March 31, 2022

 

 

2,784,712

 

 

$

8.34

 

 

 

8.27

 

 

$

219

 

Options vested and exercisable as of March 31, 2022

 

 

1,106,407

 

 

$

8.04

 

 

 

7.35

 

 

$

—

 
Summary of Restricted Stock Units Activity A summary of the restricted stock unit ("RSU") activity and related information is as follows:

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date Fair Value

 

Unvested as of December 31, 2021

 

 

—

 

 

$

—

 

Granted

 

 

425,289

 

 

 

1.38

 

Vested

 

 

—

 

 

 

—

 

Forfeited

 

 

—

 

 

 

—

 

Unvested as of March 31, 2022

 

 

425,289

 

 

$

1.38

 

 
Summary of Stock-Based Compensation Expense

Stock-based compensation expense included in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

 

2022

 

 

2021

 

 

Research and development

 

$

379

 

 

$

378

 

 

General and administrative

 

 

677

 

 

 

569

 

 

Total stock-based compensation expense

 

$

1,056

 

 

$

947