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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
Summary of Stock Option Activity |
|  |  |  |  |  |  |  |  |  | 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, 2021 |  |  | 2,406,668 |  |  | $ | 16.46 |  |  |  | 8.1 |  |  | $ | 9,970 |
Granted |  |  | 956,816 |  |  |  | 4.19 |  |  |  |  |  |  |  |  |
Exercised |  |  | (12,065 | ) |  |  | 2.43 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (199,145 | ) |  |  | 14.49 |  |  |  |  |  |  |  |  |
Balance outstanding as of June 30, 2022 |  |  | 3,152,274 |  |  | $ | 12.92 |  |  |  | 8.1 |  |  | $ | 790 |
Exercisable as of June 30, 2022 |  |  | 1,365,395 |  |  | $ | 13.14 |  |  |  | 7.0 |  |  | $ | 642 |
Summary of Estimated Fair Value of Stock Option Awards Granted Using Black-Scholes Option-Pricing Model | The fair value of stock 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:
|  | Six Months Ended |  |
|  | June 30, |  |
|  | 2022 |  |  | 2021 |  |
Expected term (years) |  | 5.5-6.1 |  |  | 5.5-6.1 |  |
Expected volatility |  | 89.9-91.0 |  | % | 94.0-97.6 |  | %
Risk-free interest rate |  | 1.6-2.8 |  | % | 0.7-1.0 |  | %
Expected dividend |  |  | — |  |  |  | — |  |
Summary of Restricted Stock Unit Activity | The following table summarizes RSU activity for the six months ended June 30, 2022:
|  |  |  |  |  | Weighted Average |
|  | Number of |  |  | Grant Date |
|  | RSUs |  |  | Fair Value |
Balance outstanding as of December 31, 2021 |  |  | 106,394 |  |  | $ | 23.10 |
Granted |  |  | 596,891 |  |  |  | 4.44 |
Vested / released |  |  | (22,115 | ) |  |  | 23.10 |
Cancelled / forfeited |  |  | (80,522 | ) |  |  | 5.64 |
Balance outstanding as of June 30, 2022 |  |  | 600,648 |  |  | $ | 6.51 |
Summary of Stock-Based Compensation | The Company recorded stock-based compensation for the periods indicated as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Research and development |  | $ | 1,014 |  |  | $ | 758 |  |  | $ | 1,898 |  |  | $ | 1,397 |
General and administrative |  |  | 1,572 |  |  |  | 1,659 |  |  |  | 3,200 |  |  |  | 2,813 |
Total stock-based compensation |  | $ | 2,586 |  |  | $ | 2,417 |  |  | $ | 5,098 |  |  | $ | 4,210 |

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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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