Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Restricted Stock Units Activity

The Company’s RSU activity for the year ended December 31, 2020 was as follows:

			Weighted
			Average
			Grant Date
	Number		Fair Value
	of Shares		per Share
Nonvested at January 1, 2020		—	$	—
Replacement restricted units granted		2,518,932		5.25
Restricted units granted		331,121		14.90
Vested		—		—
Nonvested at December 31, 2020		2,850,053	$	6.37

Schedule of Restricted Stock Awards Activity

The Company’s RSA activity for the year ended December 31, 2020 was as follows:

			Weighted
			Average
			Grant Date
	Number		Fair Value
	of Shares		per Share
Nonvested at December 31, 2019		—	$	—
Restricted stock granted		769,058		5.28
Vested		—		—
Nonvested at December 31, 2020		769,058	$	5.28

Schedule of Total Stock-Based Compensation Expense for Stock Options, RSAs and RSUs (Detail)

The following table summarizes the total stock-based compensation expense for the stock options, RSAs and RSUs recorded in the consolidated statements of operations for the year ended December 31, 2020 and for the period from Inception to December 31, 2019 (in thousands):

	For the Year Ended December 31, 2020		For the period from September 20, 2019 (date of inception) to December 31, 2019
Research and development expense	$	1,167	$	—
General and administrative expense		2,187		—
Total	$	3,354	$	—

Cancelled Options

Schedule of Assumptions Used to Estimate Fair Value of Stock Options and Cancelled Options

The following assumptions were used to estimate the fair value of the Cancelled Options that were granted on July 1, 2020:

Risk-free interest rate	0.31	%
Expected dividend yield	—
Expected term in years	6.3
Expected volatility	80	%

Stock Options

Schedule of Assumptions Used to Estimate Fair Value of Stock Options and Cancelled Options

The following weighted-average assumptions were used to estimate the fair value of stock options, excluding the Cancelled Options, for the year ended December 31, 2020:

Risk-free interest rate	0.54	%
Expected dividend yield	—
Expected term in years	6.2
Expected volatility	77	%

Schedule of Stock Option Activity, Excluding Cancelled Options

The following table summarizes stock option activity, excluding the Cancelled Options, during the year ended December 31, 2020:

					Weighted
			Weighted		Average		Aggregate
			Average		Remaining		Intrinsic
	Stock		Exercise		Contractual		Value
	Options		Price		Life (in years)		(in thousands)
Outstanding at December 31, 2019		—	$	—		—	$	—
Options granted		674,842		20.68
Outstanding at December 31, 2020		674,842	$	20.68		9.8	$	3,953
Vested and expected to vest at December 31, 2020		674,842	$	20.68		9.8	$	3,953
Options exercisable at December 31, 2020		12,054	$	20.25		9.8	$	76