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Common Stock and Common Stock Warrants
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Common Stock and Common Stock Warrants Common Stock and Common Stock Warrants
Common Stock

In December 2020, the Company's amended and restated certificate of incorporation became effective, which authorized the issuance of 700,000,000 shares of common stock with a par value of $0.0001 per share.

The Company had reserved shares of common stock for issuance, on an as-converted basis, as follows:
December 31,March 31,
20202021
Options issued and outstanding19,600,223 19,590,771 
RSUs outstanding— 827,192 
Shares available for future issuance under 2020 plan2,537,181 10,389,402 
Shares available for issuance under ESPP— 2,113,140 
Warrants to purchase common stock75,000 — 
Total22,212,404 32,920,505 
Common Stock Warrants

In October 2018, the Company issued stock warrants to purchase 75,000 shares of common stock, with an exercise price of $2.16 per share. The estimated grant date fair value of the common stock warrants was recognized as debt issuance costs in the period granted. The common stock warrant has a contractual term of ten years and expire in October 2028.

On December 1, 2020, the common stock warrant agreement was amended to include a repurchase option in the event of an IPO. Upon the completion of an IPO, or a qualified acquisition of the Company, the common stock warrant holders have the option to require the Company to repurchase the warrant in its entirety for a purchase price of $1.5 million. The repurchase option terminates on the earlier of (i) 30 days after the closing of a qualified
sale of the Company or; (ii) 10 business days after the date on which the Company’s IPO price per share is confirmed by the Company’s underwriters. On December 31, 2020, the repurchase clause for the warrant expired resulting in the fair market value of 75,000 warrants reclassified from liability to equity on the condensed consolidated balance sheets. On January 13, 2021, the warrant holder net exercised the warrant resulting in 72,407 common shares issued by the Company. As of March 31, 2021 no common stock warrants were outstanding.