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Stock Based Compensation (Table)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense is as follows (in thousands):
Year Ended December 31,
202120202019
General and administrative expense$1,135 $377 $30 
Research and development4,487 334 55 
Total$5,622 $711 $85 
Schedule of Stock Option Activity
The following table summarizes option activity under the Plan:
 Options Weighted
Average
Exercise
Price
Weighted
Average
Contractual
Term (in
Years)
Balance as of December 31, 201917,316,728 $0.09 7.2
Granted2,765,167 5.29 
Exercised(153,451)0.55 
Forfeited(1,204,348)2.66 
Balance as of December 31, 2020
18,724,096 $0.69 6.5
Granted1,138,443 15.96 
Exercised(1,532,002)0.43 
Forfeited(634,977)7.86 
Balance as of December 31, 2021
17,695,560 $1.44 5.6
Schedule of Stock Options Valuation Assumptions
The fair value of each stock option grant under the Plan was estimated on the date of grant using the Black-Scholes option pricing model, with the following range of assumptions:
Year Ended
December 31,
20212020
Expected term (in years)6.36.3
Volatility
91% to 100%
90% to 122%
Dividend yield0.0%0.0 %
Risk-free interest rate
0.6% to 1.5%
0.5 %
Common stock price$15.96 $5.29 
Schedule of Additional Information Regarding Stock Options Exercisable
Additional information regarding stock options exercisable as of December 31, 2021 is summarized below:
Options Exercisable at December 31, 2021
Range of Exercise PriceNumberWeighted
Average
Exercise Price
Weighted
Average
Contractual
Term (in Years)
$0.06 - $24.48
17,695,560 $1.44 5.6
Schedule of RSU Activity
The following table summarizes RSU activity under the Plan:
 RSU AwardsWeighted Average Grant Date Fair Value
Unvested at December 31, 2020— $— 
Awarded176,561 13.01 
Vested(157,752)12.93 
Forfeited(1,635)14.05 
Unvested at December 31, 202117,174 $13.47