Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Non-Voting Incentive Unit Activity

The following table summarizes the Non-Voting Incentive Unit activities for the years ended December 31, 2021 and 2020 as if the Non-Voting Incentive Units were converted to restricted common stock of the Company at the earliest period presented:

	Number of    Shares			Weighted Average Grant Date Fair Value Per Share
Outstanding unvested as of December 31, 2019		580,334		$	0.0001
Vested		(407,844	)		0.0001
Outstanding unvested as of December 31, 2020		172,490			0.0001
Vested		(172,490	)		0.0001
Outstanding unvested as of December 31, 2021		—			0.0001
Outstanding vested as of December 31, 2021		1,689,949		$	0.0001

Summary of Restricted Common Unit Activities

The following table summarizes the restricted common unit activities for the years ended December 31, 2021 and 2020 as if the restricted common units were converted to restricted common stock of the Company at the earliest period presented:

	Number of    Shares			Incremental Fair Value Per Share
Total units exchanged as of November 4, 2020		320,228		$	3.87
Vested		(128,358	)		3.87
Outstanding unvested as of December 31, 2020		191,870		$	3.87
Vested		(102,987	)		3.87
Outstanding unvested as of December 31, 2021		88,883		$	3.87
Outstanding vested as of December 31, 2021		231,345		$	3.87

Summary of Grant Date Fair Value

For the years ended December 31, 2021 and 2020, the weighted average grant date fair value of the options granted were $15.73 and $6.19 per share, respectively. The grant date fair value was estimated at the time of grant using the Black-Scholes option-pricing model using the following weighted average assumptions:

	Year Ended December 31, 2021			Year Ended December 31, 2020
Weighted average risk-free interest rate		1.02	%		0.51	%
Expected term (in years)		6.00			5.98
Expected volatility		76.22	%		77.40	%
Expected dividend yield		0.00	%		0.00	%

Schedule of Equity-based Compensation Expense Categories In Consolidated Statements of Operations and Comprehensive Loss

The Company recorded equity-based compensation in the following expense categories in the consolidated statements of operations and comprehensive loss:

	Year ended December 31,
	2021		2020
	(in thousands)
Research and development	$	8,914	$	5,912
General and administrative		15,461		8,998
Total equity-based compensation	$	24,375	$	14,910

Employees and Non-Employees

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Activity Related to Stock Options Grants

The following table summarizes the activity related to stock option grants to employees and non-employees for the years ended December 31, 2021 and 2020 under the 2021 Stock Plan. This also includes the common unit options issued under the 2020 Plan that were cancelled and exchanged into stock options under the 2021 Stock Plan with the number of options issued and weighted average exercise price presented as if the Reorganization occurred at the earliest period presented:

	Number of    Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)
Outstanding as of December 31, 2019		—		$	—		—
Granted		4,616,187			4.30		—
Exercised		(13,050	)		4.30		—
Outstanding as of December 31, 2020		4,603,137		$	4.30		9.84
Granted		5,481,816			23.82		—
Exercised		(763,000	)		4.30		—
Forfeited		(63,214	)		17.23		—
Outstanding as of December 31, 2021		9,258,739		$	15.77		9.22
Options exercisable as of December 31, 2021		3,271,196		$	7.65		8.90
Options unvested as of December 31, 2021		5,987,543		$	20.20		9.39