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Stockholders' Equity (Tables)

6 Months Ended

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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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.

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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.

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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.

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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.

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