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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Share-Based Compensation | The Company recorded share-based compensation for the periods indicated as follows (in thousands):
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Research and development |  | $ | 1,250 |  |  | $ | 30 |
General and administrative |  |  | 2,557 |  |  |  | 359 |
Total share-based compensation |  | $ | 3,807 |  |  | $ | 389 |
Summary of Estimated Fair Value of Option Awards Granted Using Black-Scholes Option-Pricing Model | The fair value of option awards granted for the periods indicated was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Expected term (years) |  | 4.0-6.1 |  |  | 5.9-6.1 |
Contractual term (years) |  |  | 10.0 |  |  |  | 10.0 |
Expected volatility |  | 86.4-97.6% |  |  | 61.8-87.6% |
Risk-free interest rate |  | 0.2-1.5% |  |  | 1.6-2.6% |
Expected dividend |  |  | — |  |  |  | — |
Summary of Stock Option Activity | The following table summarizes stock option activity for the year ended December 31, 2020:
|  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  | Weighted |  |  | Average |  |  |  |  |
|  |  |  |  |  | Average |  |  | Remaining |  |  | Aggregate |
|  | Number of |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term |  |  | Value |
|  |  |  |  |  |  |  |  |  | (In years) |  |  | (In thousands) |
Balance outstanding as of December 31, 2019 |  |  | 1,320,243 |  |  | $ | 3.34 |  |  |  | 9.23 |  |  | $ | 30,353 |
Granted |  |  | 682,000 |  |  |  | 29.78 |  |  |  |  |  |  |  |  |
Exercised |  |  | (63,366 | ) |  |  | 4.29 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (40,482 | ) |  |  | 2.87 |  |  |  |  |  |  |  |  |
Balance outstanding as of December 31, 2020 |  |  | 1,898,395 |  |  |  | 12.79 |  |  |  | 8.60 |  |  | $ | 25,918 |
Exercisable as of December 31, 2020 |  |  | 535,084 |  |  | $ | 2.58 |  |  |  | 8.11 |  |  | $ | 11,684 |

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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=115993241&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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