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Stock-based compensation (Tables)
9 Months Ended
Sep. 30, 2022
Stock-based compensation  
Schedule of assumptions used in the Black-Scholes option-pricing model for estimating the fair value of stock options

Three months ended September 30, 

Nine months ended September 30, 

    

2022

    

2021

    

2022

    

2021

    

Risk-free interest rate

%  

0.94

%  

2.87

%  

1.06

%  

Expected term (in years)

 

 

6.1

 

6.0

 

6.1

 

Expected volatility

 

%  

85.3

%  

84.9

%  

85.4

%  

Expected dividends

 

%

%

%

%

Schedule of summary of stock option activity

The following table summarizes the Company’s stock option activity since January 1, 2022 (in thousands, except share and per share amounts):

Weighted

Weighted

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

    

Shares

    

Price

    

Term

    

Value

(in years)

Outstanding as of December 31, 2021

 

4,231,178

$

9.21

 

7.5

$

1,640

Granted

 

2,028,531

 

1.65

 

 

Exercised

 

(34,223)

 

0.10

 

 

Forfeited

 

(208,489)

 

9.23

 

 

Outstanding as of September 30, 2022

 

6,016,997

$

6.71

 

7.7

$

858

Options exercisable as of September 30, 2022

 

3,043,025

$

8.37

 

6.5

$

856

Options unvested as of September 30, 2022

 

2,973,972

$

5.00

 

9.0

$

2

Schedule of stock-based compensation expense

Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):

Three months ended September 30, 

Nine months ended September 30, 

    

2022

    

2021

    

2022

    

2021

Research and development expenses

$

428

$

643

$

1,568

$

2,412

General and administrative expenses

 

612

 

1,076

 

2,474

 

3,455

$

1,040

$

1,719

$

4,042

$

5,867