Share Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Weighted Average Fair Values and Valuation Assumptions

The following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant date fair value of stock options granted:

	Three Months Ended March 31,			Three Months Ended March 31,
	2022			2021
Expected term (in years)		6.0			6.0
Expected volatility		72.3	%		73.5	%
Risk-free interest rate		1.8	%		0.6	%
Expected dividend yield		—	%		—	%

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2021:

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding at December 31, 2021		18,871,592		$	10.15		9.3	$	24,897
Granted		5,520,081		$	6.56
Exercised		(50,353	)	$	0.94
Forfeited		(4,603,373	)	$	10.59
Outstanding at March 31, 2022		19,737,947		$	9.07		9.2	$	10,594
Vested and expected to vest at March 31, 2022		19,737,947		$	9.07		9.2	$	10,594
Options exercisable at March 31, 2022		2,394,616		$	3.68		8.7	$	4,209

Schedule of Unvested Common Stock Options

A summary of the Company’s unvested common stock from option early exercises that is subject to repurchase by the Company is as follows:

	Number of Shares
Unvested restricted stock at December 31, 2021		3,082,175
Issued		—
Vested		(266,858	)
Repurchased		(1,158,089	)
Unvested restricted stock at March 31, 2022		1,657,228

Summary of Share Based Compensation Expense Recognized

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands):

	Three Months Ended March 31,			Three Months Ended March 31,
	2022			2021
Research and development	$	3,153		$	279
Selling, general and administrative		(1,170	)		308
	$	1,983		$	587