Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions used to Determine Grant Date Fair Value under ESPP Offering

The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value under the ESPP offering were as follows:

	Year Ended December 31,
	2022			2021
Risk-free interest rate		2.36	%		0.05	%
Expected term (in years)		0.50			0.50
Expected volatility		85.37	%		61.91	%
Expected dividend yield		0.00	%		0.00	%

Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model

The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted-average basis:

	Year Ended December 31,
	2022			2021
Risk-free interest rate		2.17	%		0.80	%
Expected term (in years)		5.99			6.00
Expected volatility		78.95	%		75.99	%
Expected dividend yield		0.00	%		0.00	%

Schedule of Share Option Activity

The following table summarizes the Company’s share option activity:

	Number of shares			Weighted average exercise price		Weighted average remaining contractual term (in years)		Intrinsic value (in thousands)
Outstanding, January 1, 2022		5,322,591		$	14.76		8.15	$	55,722
Granted		3,346,567		$	14.41
Exercised		(148,116	)	$	3.02
Forfeited		(488,140	)	$	22.15
Outstanding, December 31, 2022		8,032,902		$	14.38		7.90	$	37,250
Options exercisable, December 31, 2022		3,592,087		$	11.41		6.94	$	28,538
Options unvested, December 31, 2022		4,440,815		$	16.79		8.65	$	8,712

Schedule of Share-based Compensation Expense

Share-based compensation expense for all awards was allocated as follows:

	Year Ended December 31,
	2022		2021
	(in thousands)
Research and development	$	10,020	$	5,681
General and administrative		9,671		7,148
Total share-based compensation expense	$	19,691	$	12,829

Share-based compensation expense by type of award was as follows:

	Year Ended December 31,
	2022		2021
	(in thousands)
Stock options	$	19,400	$	12,632
ESPP		291		197
Total share-based compensation expense	$	19,691	$	12,829