Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

Share-based compensation expense by type of award was as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Stock options	$	3,030	$	757
Restricted stock units		696		—
Restricted stock units - executive officer		755		—
Total share-based compensation expense	$	4,481	$	757

Summary of Stock Option Activity

A summary of stock option activity for awards under the 2017 Plan and the 2022 Plan is presented below:

	Options Outstanding and Exercisable
	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (1) (in thousands)
Outstanding as of January 1, 2022		5,598,830		$	5.36		8.9	$	7,349
Granted		2,829,435			14.87
Forfeited		(3,504	)		11.38
Exercised		(311,172	)		1.35
Outstanding as of March 31, 2022		8,113,589		$	8.83		9.1	$	44,630
Exercisable as of March 31, 2022		1,767,303		$	4.83		8.1	$	16,304

(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of the common stock for the options that were in the money as of March 31, 2022.

Summary of Restricted Stock Units Activity

A summary of RSU activity for awards under the 2022 Plan is presented below:

	Number of Shares			Weighted Average Grate Date Fair Value
Outstanding as of January 1, 2022		—		$	—
Granted		703,329			15.00
Vested		—			—
Forfeited		(666	)		15.00
Outstanding as of March 31, 2022		702,663		$	15.00