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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Stock-Based Compensation | The Company recorded stock-based compensation for the periods presented as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Research and development |  | $ | 2,966 |  |  | $ | 1,250 |
General and administrative |  |  | 5,712 |  |  |  | 2,557 |
Total stock-based compensation |  | $ | 8,678 |  |  | $ | 3,807 |
Summary of Estimated Fair Value of Stock Options Granted Using Black-Scholes Option-Pricing Model | The fair value of stock options granted for the periods presented was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Expected term (years) |  | 5.5-6.1 |  |  | 4.0-6.1 |
Expected volatility |  | 86.9-91.9% |  |  | 86.4-97.6% |
Risk-free interest rate |  | 0.7-1.3% |  |  | 0.2-1.5% |
Expected dividend |  |  | — |  |  |  | — |
Summary of Stock Option Activity | The following table summarizes stock option activity for the year ended December 31, 2021:
|  |  |  |  |  |  |  |  |  | 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, 2020 |  |  | 1,898,395 |  |  | $ | 12.79 |  |  |  | 8.6 |  |  | $ | 25,918 |
Granted |  |  | 830,013 |  |  |  | 22.22 |  |  |  |  |  |  |  |  |
Exercised |  |  | (188,286 | ) |  |  | 2.59 |  |  |  |  |  |  |  |  |
Cancelled and forfeited |  |  | (133,454 | ) |  |  | 19.55 |  |  |  |  |  |  |  |  |
Balance outstanding as of December 31, 2021 |  |  | 2,406,668 |  |  | $ | 16.46 |  |  |  | 8.1 |  |  | $ | 9,970 |
Exercisable as of December 31, 2021 |  |  | 922,104 |  |  | $ | 10.76 |  |  |  | 7.3 |  |  | $ | 6,800 |

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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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