Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock options	$	4,398	$	1,235	$	7,428	$	1,992
Restricted stock units		948		—		1,645		—
Restricted stock units - executive officer		598		—		1,352		—
Total share-based compensation expense	$	5,944	$	1,235	$	10,425	$	1,992

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		3,048,158			14.54
Forfeited		(95,495	)		9.94
Exercised		(324,467	)		1.32
Outstanding as of June 30, 2022		8,227,026		$	8.87		8.9	$	75,703
Exercisable as of June 30, 2022		2,406,207		$	5.74		8.1	$	29,687

(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 June 30, 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 Grant Date Fair Value
Outstanding as of January 1, 2022		—		$	—
Granted		845,067			16.76
Vested		—			—
Forfeited		(16,663	)		17.84
Outstanding as of June 30, 2022		828,404		$	16.74