Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Restricted Stock Units Activity

The Company’s RSU activity for the three months ended March 31, 2021 was as follows:

			Weighted
			Average
			Grant Date
	Number		Fair Value
	of Shares		per Share
Nonvested at January 1, 2021		2,850,053	$	6.37
Restricted units granted		—		—
Vested		—		—
Nonvested at March 31, 2021		2,850,053	$	6.37

Schedule of Restricted Stock Awards Activity

The Company’s RSA activity for the three months ended March 31, 2021 was as follows:

			Weighted
			Average
			Grant Date
	Number		Fair Value
	of Shares		per Share
Nonvested at December 31, 2020		769,058	$	5.28
Restricted stock granted		—		—
Vested		—		—
Nonvested at March 31, 2021		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 condensed consolidated statements of operations for the three months ended March 31, 2021 (in thousands):

	For the Three Months Ended March 31, 2021
Research and development expense	$	1,579
General and administrative expense		2,015
Total	$	3,594

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 that were granted during the three months ended March 31, 2021:

Risk-free interest rate		0.64	%
Expected dividend yield	—
Expected term in years		6.1
Expected volatility		75	%

Schedule of Stock Option Activity

The following table summarizes stock option activity, during the three months ended March 31, 2021:

						Weighted
				Weighted		Average		Aggregate
				Average		Remaining		Intrinsic
	Stock			Exercise		Contractual		Value
	Options			Price		Life (in years)		(in thousands)
Outstanding at December 31, 2020		674,842			20.68		9.8	$	3,953
Options granted		1,621,900			28.81
Options cancelled or forfeited		(10,600	)		26.87
Outstanding at March 31, 2021		2,286,142		$	26.42		9.8	$	213
Vested and expected to vest at March 31, 2021		2,286,142		$	26.42		9.8	$	213
Options exercisable at March 31, 2021		27,552		$	20.44		9.5	$	6