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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2022:

										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			1,149,816				4.48
Exercised			(151,061	)			2.09
Cancelled and forfeited			(243,506	)			16.34
Balance outstanding as of December 31, 2022			3,161,917			$	12.80				7.9			$	16,612
Exercisable as of December 31, 2022			1,460,685			$	14.60				7.0			$	7,320

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,
		2022		2021
Expected term (years)		5.5-6.3		5.5-6.1
Expected volatility		89.9-91.0%		86.9-91.9%
Risk-free interest rate		1.6-3.9%		0.7-1.3%
Expected dividend		—		—

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the year ended December 31, 2022:

		Number of RSUs				Weighted Average Fair Value at Date of Grant per Unit
Balance outstanding as of December 31, 2021			106,394			$	23.10
Granted			1,224,391				4.61
Vested / released			(103,703	)			8.61
Cancelled / forfeited			(131,344	)			5.53
Balance outstanding as of December 31, 2022			1,095,738				5.77

Summary of Stock-Based Compensation

The Company recorded stock-based compensation for the periods indicated as follows (in thousands):

		Year Ended December 31,
		2022				2021
Research and development		$	4,094			$	2,966
General and administrative			6,262				5,712
Total stock-based compensation		$	10,356			$	8,678

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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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