Preferred Stock and Stockholders' Equity (Deficit) (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Summary of option activity under the company's plans

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

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2021		4,193,321		$	2.41		6.0	$	26,115
Granted		3,955,763			3.97		9.8
Exercised		(4,828	)		0.52		0.9
Cancelled or forfeited		(42,222	)		11.36		9.3
Outstanding at June 30, 2022		8,102,034		$	3.13		7.6	$	801
Vested and exercisable at June 30, 2022		3,565,097		$	1.95		5.1	$	792

Schedule of assumptions used in the Black-Scholes option pricing model to determine the fair value of the stock option grants.

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

	Six Months Ended June 30,
	2022	2021
Risk-free interest rate	1.7% - 3.3%	0.7%
Expected volatility	82% - 86%	90%
Expected term (in years)	5.2 - 6.1	6.1
Expected dividend yield	0%	0%

Schedule of Common Stock, Reserved for Future Issuance

Common stock reserved for future issuance consists of the following as of June 30, 2022:

	June 30, 2022
Stock options issued and outstanding		8,102,034
Public warrants issued and outstanding		5,833,323
Private placement warrants issued and outstanding		181,667
Earn-Out shares		5,000,000
Unvested sponsor shares		300,000
Authorized for future stock awards or option grants		2,287,799
Authorized for future issuances under the ESPP		1,259,471
Total		22,964,294