Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity during the year ended December 31, 2022 (in thousands, except share and per share data):

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2021		6,870,617		$	12.56		8.0	$	32,637
Granted		2,174,350		$	18.02
Exercised		(357,934	)	$	15.19
Canceled and forfeited		(346,950	)	$	18.39
Outstanding as of December 31, 2022		8,340,083		$	13.63		7.5	$	51,645
Vested and exercisable as of December 31, 2022		4,578,478		$	10.39		6.7	$	42,123

Schedule of Assumptions Used to Estimate Fair Value of Stock Option Awards Granted

The following assumptions were used to estimate the fair value of stock option awards granted during the following periods:

	Year ended December 31,
	2022	2021
Exercise price	$15.50-$27.46	$14.05-$21.22
Expected term (in years)	5.5-6.1	5.5-6.1
Expected volatility	80.86%-83.20%	82.76%-94.06%
Risk-free interest rate	1.46%-4.10%	0.62%-1.34%
Expected dividend yield	—	—

Summary of RSU Activity

The following table summarizes the activity under the Company’s restricted stock units for the year ended December 31, 2022:

	Number of Shares			Weighted-Average Grant Date Fair Value per Share
Unvested and Outstanding as of December 31, 2021	$	69,949		$	18.57
Granted		586,452			18.24
Vested		—			—
Cancelled/Forfeited		(40,927	)		16.92
Unvested and Outstanding as of December 31, 2022	$	615,474		$	18.36

Summary of Stock-based Compensation Reflected in Consolidated Statements of Operations

Total stock-based compensation is reflected in the consolidated statements of operations as follows (in thousands):

	Year Ended December 31,
	2022		2021
Selling, general and administrative	$	16,957	$	13,128
Research and development		10,050		9,888
Total	$	27,007	$	23,016