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Equity-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity-Based Compensation |
Summary of allocation of equity-based compensation | The Company recorded equity-based compensation expense related to all equity-based awards, which was allocated as follows in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2021 and 2020 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | December 31,
​ |  | 2021 |  | 2020
Research and development expense | ​ | $ | 10,176 | ​ | $ | 3,554
General and administrative expense | ​ |  | 12,973 | ​ |  | 7,621
​ | ​ | $ | 23,149 | ​ | $ | 11,175
Summary of unrecognized equity-based compensation expense | ​
​ | ​ | ​ | ​ | ​
​ | ​
​ | As of December 31, 2021
​ | ​ | Unrecognized Expense (in thousands) |  | Weighted Average Remaining Period of Recognition (years)
Restricted Stock Units | ​ | 12,079 | ​ | 3.3
Stock Options | ​ | 45,364 | ​ | 2.4
​ | $ | 57,443 | ​ | ​
Summary of stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | Average | ​ | ​ | ​
​ | ​ | Number of | ​ | Average | ​ | Remaining | ​ | Aggregate
​ |  | Shares |  | Exercise Price |  | Contractual Term |  | Intrinsic Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | (in years) | ​ | (in thousands)
Outstanding as of December 31, 2020 |  | 3,679,931 | ​ | $ | 14.96 |  | 8.01 | ​ | $ | 123,600
Granted |  | 1,462,930 | ​ | $ | 49.23 | ​ | ​ | ​ | ​ | ​
Exercised | ​ | (556,629) | ​ | $ | 12.38 | ​ | ​ | ​ | ​ | ​
Cancelled |  | (842,832) | ​ | $ | 29.12 | ​ | ​ | ​ | ​ | ​
Outstanding as of December 31, 2021 |  | 3,743,400 | ​ | $ | 25.55 | ​ | 8.06 | ​ | $ | 26,272
Options exercisable as of December 31, 2021 |  | 1,544,062 | ​ | $ | 18.42 | ​ | 7.18 | ​ | $ | 14,851
Schedule of weighted average assumptions in fair value | ​
​ | ​ | ​ | ​ | ​
​ | Year Ended | ​
​ | December 31, | ​
​ | 2021 |  | 2020 | ​
Risk-free interest rate | 0.86 | % | 0.92 | %
Expected dividend yield | 0.0 | % | 0.0 | %
Expected term (years to liquidity) | 6.22 | ​ | 6.21 | ​
Expected volatility | 87.62 | % | 82.09 | %
Restricted stock awards |
Equity-Based Compensation |
Summary of stock activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted
​ | ​ | ​ | ​ | Average Fair
​ | ​ | ​ | ​ | Value per Share
​ |  | Number of Shares |  | at Issuance
Restricted stock awards as of December 31, 2020 |  | 57,969 | ​ | $ | 5.77
Vested |  | (57,969) | ​ | $ | 5.77
Restricted stock awards as of December 31, 2021 |  | — | ​ | $ | —
Restricted Stock Units |
Equity-Based Compensation |
Summary of stock activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average Grant
​ |  | Number of Units |  | Date Fair Value
Restricted stock units as of December 31, 2020 |  | — | ​ | $ | —
Granted |  | 392,661 | ​ | $ | 49.48
Forfeited |  | (77,760) | ​ | $ | 57.98
Restricted stock units as of December 31, 2021 |  | 314,901 | ​ | $ | 47.38

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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