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Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense by Classification
Stock-based compensation expense by classification included within the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Research and development$4,442 $2,673 $12,401 $12,615 
General and administrative14,681 10,369 51,160 28,408 
Total stock-based compensation expense$19,123 $13,042 $63,561 $41,023 
Summary of RSA Activity
A summary of the Company’s RSA activity was as follows:
Number of
Shares
Weighted-Average
Value at Grant
Date Per Share
Unvested shares as of December 31, 2021
2,600,002$0.0001 
Vested(2,600,002)$0.0001 
Unvested shares as of September 30, 2022
— $— 
Summary of RSU Activity
A summary of the Company’s RSU activity was as follows:
Restricted Stock Units OutstandingWeighted-Average
Value at Grant
Date Per Share
Unvested RSUs as of December 31, 2021
— $— 
RSUs granted1,330,962 $5.98 
RSUs vested(153,942)$5.98 
RSUs forfeited or canceled(187,766)$5.98 
Unvested RSUs as of September 30, 2022
989,254 $5.98 
Summary of Stock Option Activity
A summary of the Company’s stock option activity was as follows:
Number of
Stock Options
Weighted-
Average
Exercise Price
Per Share
Weighted-
Average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic
Value
(in thousands)
Options outstanding as of December 31, 2021
41,775,179$5.05 7.84$142,076 
Granted9,931,442$5.97 
Exercised(3,512,765)$2.63 
Canceled or forfeited(2,083,979)$6.07 
Options outstanding as of September 30, 2022
46,109,877$5.38 7.54$120,296 
Options exercisable as of September 30, 2022
26,446,733$4.27 6.64$94,486 
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model for Estimating Fair Value of Stock Options Granted
The fair value of stock options granted to employees, directors and consultants was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted-average assumptions:
Nine Months Ended
September 30,
20222021
Risk-free interest rate2.32 %0.79 %
Expected volatility85.6 %78.7 %
Expected term (in years)5.986.10
Expected dividend yield%%