Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used to Estimate Fair value of Market-Based RSUs Granted

The following table details the assumptions used in the Monte Carlo simulation model used to estimate the fair value of the market-based RSUs granted during the nine months ended September 30, 2022:

	Nine Months Ended September 30, 2022
Stock price	$	12.98
Volatility		82.5	%
Remaining term (in years)		2.7
Risk-free rate		2.9	%
Expected dividend yield		0.0	%

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

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands)
Research and development	$	1,108	$	2,458	$	8,147	$	6,320
General and administrative		4,163		2,099		12,297		5,910
Total equity-based compensation	$	5,271	$	4,557	$	20,444	$	12,230