Equity Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of weighted-average assumptions for options issued

The following table sets forth the weighted average assumptions used in estimating the fair value of stock option awards on the grant date:

	Year Ended December 31,
	2022			2021
Expected volatility		77.2	%		81.7	%
Risk-free interest rate		2.44	%		1.07	%
Expected term (in years)		5.9			6.2
Expected dividend yield		—	%		—	%

Summary of Restricted Stock Unit and Award Activity

A summary of RSU activity during the periods indicated is as follows:

	Number of Restricted Stock Units			Weighted Average Grant-Date Fair Value per Share
Balance at December 31, 2021		596,500		$	19.56
Granted		443,400		$	13.21
Vested		(267,650	)	$	19.56
Forfeited		(106,750	)	$	17.63
Balance at December 31, 2022		665,500		$	15.64

A summary of RSA activity during the periods indicated is as follows:

	Number of Restricted Stock Awards			Weighted Average Grant-Date Fair Value per Share
Balance at December 31, 2021		113,173		$	6.15
Vested		(41,236	)	$	6.15
Forfeited		(4,548	)	$	6.25
Balance at December 31, 2022		67,389		$	6.14

Summary of Components of Equity-based Compensation Expense

The following table summarizes the components of equity-based compensation expense resulting from the grant of stock options, RSUs, RSAs, the ESPP, and a secondary sales transaction entered into in February 2021, recorded in the Company’s consolidated statement of operations and comprehensive loss (in thousands):

	Year Ended December 31,
	2022		2021
Research and development	$	6,237	$	8,156
General and administrative		9,545		14,439
Total equity-based compensation	$	15,782	$	22,595

Stock Options [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Options and Options for Common Units Activity

A summary of stock option activity during the periods indicated is as follows:

	Number of Stock Option Awards			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2021		2,300,819		$	14.12		9.55	$	976
Granted		1,599,785		$	12.38		9.31	$	—
Cancelled		(112,018	)	$	13.57
Balance at December 31, 2022		3,788,586		$	13.40		8.81	$	—
Exercisable at December 31, 2022		1,088,706		$	13.50		8.48	$	—
Nonvested at December 31, 2022		2,699,880		$	13.36		8.89	$	—