Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the three months ended March 31, 2023:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022		3,300,935		$	6.29		9.26	$	18,346
Granted		37,199			18.48
Exercised		(232	)		1.74
Forfeited or canceled		(50,045	)		4.51
Outstanding as of March 31, 2023		3,287,857		$	6.45		9.02	$	20,720
Vested and expected to vest as of March 31, 2023		3,287,857		$	6.45		9.02	$	20,720
Vested and exercisable as of March 31, 2023		870,300		$	2.40		8.23	$	8,953

Summary of RSU activity

A summary of the RSU activity during the three months ended March 31, 2023 is as follows:

	Restricted Stock Units			Weighted-Average Grant Date Fair Value
Unvested at December 31, 2022		1,787,152		$	12.49
Granted		12,421			18.47
Vested		—			—
Forfeited		(1,669	)		12.50
Unvested at March 31, 2023		1,797,904		$	12.53

Summary of Share-based Compensation Expense

Stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
General and administrative	$	2,020	$	13
Research and development		626		26
Total stock-based compensation expense	$	2,646	$	39