Stock-based compensation (Tables)

9 Months Ended

Sep. 30, 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 September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Research and development	1,240		952		4,360		2,879
Selling, general and administrative	2,352		2,831		7,258		4,497
Total stock-based compensation expense	$	3,592	$	3,783	$	11,618	$	7,376

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
Repurchased	(249,618)
Vested	(646,606)
Unvested as of September 30, 2022	1,689,446

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 September 30, 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	5,321,384	6.48
Exercised	(473,706)	1.28
Canceled/ Forfeited	(2,021,245)	5.82
Expired	(19,671)	2.77
Outstanding at September 30, 2022	10,564,163	4.82		8.2	7,267
Exercisable at September 30, 2022	3,027,480	$	2.97	7.3	$	4,075
Vested and expected to vest as of September 30, 2022	10,564,163			8.2	$	7,267

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 September 30,		For the Nine Months Ended September 30,
	2022	2021	2022	2021
Expected term (in years)	5.9-6.9	6.1	5.5-7.0	3.5-6.1
Volatility	64%-65%	46%	63%-67%	45%-47%
Risk-free interest rate	2.6%-3.3%	1%-1.1%	0.8%-3.3%	0.3%-1.3%
Dividend Yield	—%	—%	—%	—%