Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity under its Plans is as follows (in thousands, except share, per share data and years):

	Number of Outstanding Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Balance at December 31, 2021		5,654,663		$	9.65		9.22	$	62,954
Granted		2,252,965		$	17.24
Exercised		(7,405	)	$	0.17
Forfeited or cancelled		(554,779	)	$	13.87
Balance at December 31, 2022		7,345,444		$	11.67		8.31	$	29,806
Vested and expected to vest at December 31, 2022		7,345,444		$	11.67		8.31	$	29,806
Exercisable at December 31, 2022		4,954,426		$	8.08		7.95	$	28,629

Summary of Fair Value of Stock Option Grants

The assumptions used in the Black-Scholes option pricing model to determine the fair value of stock option grants under its Plans were as follows:

	Year Ended December 31,
	2022		2021
Risk-free interest rate	1.5% – 4.2%		0.8% – 1.6%
Expected volatility	81% – 85%		83% – 87%
Expected term (in years)	5.3 – 6.1		5.5 – 10.0
Expected dividend yield		—		—

Summary of Stock-Based Compensation Expense

Stock-based compensation expense has been reported in the statements of operations and comprehensive loss as follows (in thousands):

	Year Ended December 31,
	2022		2021
Research and development	$	7,235	$	3,018
General and administrative		9,968		3,892
Total	$	17,203	$	6,910

Summary of Unvested Shares and Unvested Stock Liabilities

A summary of the Company’s unvested shares and unvested stock liabilities is as follows (in thousands, except share data):

	Number of Unvested Shares			Unvested Stock Liabilities
Balance at December 31, 2021		379,825		$	1,203
Vested shares		(311,419	)		(1,034	)
Balance at December 31, 2022		68,406		$	169

Summary of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consists of the following:

	December 31,
	2022		2021
Common stock options outstanding		7,345,444		5,654,663
Shares available for issuance under the Plans		4,012,001		3,629,039
Shares available for issuance under the ESPP		816,478		454,548
Total		12,173,923		9,738,250