Stock-based compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Allocation of Share based Compensation

Total stock-based compensation expense related to all of the Company’s stock-based awards was recorded in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):

	For the Three Months Ended March 31,
	2022		2021
Research and development	1,423		1,076
Selling, general and administrative	2,357		1,076
Total stock-based compensation expense	$	3,780	$	2,152

Schedule of Nonvested Share Activity

Activity for the restricted shares is shown below:

	Number of shares
Unvested as of December 31, 2021	2,585,670
Granted	—
Vested	(176,152)
Unvested as of March 31, 2022	2,409,518

Activity for the phantom units is shown below:

	Number of Units	Weighted Average Strike Price
Unvested as of December 31, 2020	1,202,435	$	0.47
Granted	—	—
Vested	—	—
Exchange of Phantom Units for Cash Payment Rights, SARs, and/or Stock Options	(1,202,435)	$	0.47
Unvested as of March 31, 2021	—	$	—

Schedule of Stock Option Activity

Activity for stock options is shown below:

	Number of Options	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands $)
Outstanding at December 31, 2021	7,757,401	$	3.72	9.2	$	40,939
Granted	3,396,093	7.74
Exercised	(187,151)	1.14
Canceled/ Forfeited	(280,046)	6.78
Expired	(9,005)	1.12
Outstanding at March 31, 2022	10,677,292	4.97		9.1	42,496
Exercisable at March 31, 2022	1,889,711	$	1.16	8.5	$	13,746
Vested and expected to vest as of March 31, 2022	10,677,292			9.1	$	42,496

Schedule of Determination of Fair Value

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

	For the Three Months Ended March 31,
	2022	2021
Expected term (in years)	5.7-7.0	3.5-6.1
Volatility	63%-67%	45%-47%
Risk-free interest rate	0.8%-2.2%	0.3%-1.3%
Dividend Yield	—%	—%