Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2022:

	Options			Weighted-Average Exercise Price
Outstanding as of December 31, 2021		2,673,775		$	8.49
Granted		2,754,783		$	12.93
Exercised		(101,974	)	$	1.53
Forfeited		(10,000	)	$	20.89
Balance at June 30, 2022		5,316,584		$	10.90

Stock-Based Compensation Expense Reported in Condensed Statements of Operations

Stock-based compensation expense has been reported in the Company's condensed statements of operations as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Research and development	$	1,212	$	496	$	2,248	$	660
General and administrative		1,405		747		2,729		1,230
Total	$	2,617	$	1,243	$	4,977	$	1,890