Stock-based compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Based Compensation Expense

Stock-based compensation expense recorded in the condensed consolidated statements of operations and comprehensive loss is as follows:

	Three months ended March 31,
(in thousands)	2022		2021
Research and development	$	2,465	$	313
General and administrative		1,738		357
Total stock-based compensation expense	$	4,203	$	670

Schedule of Stock Option Activity

The following table provides a summary of stock option activity during the three months ended March 31, 2022:

	Number of options			Weighted average exercise price per share		Weighted average remaining contractual life (in years)		Aggregate intrinsic value(2) (in thousands)
Outstanding at December 31, 2021		6,119,295		$	9.44
Granted		1,633,600			31.08
Exercised		(143,506	)		3.52
Forfeited		(73,017	)		27.96
Outstanding at March 31, 2022		7,536,372		$	14.15		8.8	$	91,068
Exercisable at March 31, 2022		1,856,666		$	3.36		7.9	$	36,140
Expected to vest after March 31, 2022(1)		5,679,706		$	17.68		9.0	$	54,928

(1)This represents the number of unvested options outstanding as of March 31, 2022 that are expected to vest in the future.

(2)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the common stock for the options that were in the money as of March 31, 2022.

Schedule of Status and Change in Unvested Restricted Stock

A summary of the status of and change in unvested restricted stock units as of March 31, 2022 was as follows:

	Shares			Weighted- average grant date fair value per share
Unvested restricted stock units as of December 31, 2021		32,000		$	36.58
Restricted stock units granted		195,550		$	31.12
Restricted stock units forfeited		(1,850	)	$	30.94
Unvested restricted stock units as of March 31, 2022		225,700		$	31.86