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Common Stock and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Common Stock Shares Reserved for Issuance

As of each balance sheet date, the Company had reserved shares of common stock for issuance in connection with the following:

		March 31, 2021				December 31, 2020
Conversion of outstanding shares of convertible    preferred stock			—				16,079,230
Options outstanding under incentive award plans			2,544,778				2,466,670
Shares available for future grant under incentive award plans			2,327,433				17,556
Shares available for future grant under employee stock purchase plans			240,000				—
Total shares reserved			5,112,211				18,563,456

Summary of Stock Option Activity

The following table summarizes the stock option activity for all stock plans during the quarter ended March 31, 2021:

		Number of Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term				Aggregate Intrinsic Value
										(in years)				(in thousands)
Outstanding as of December 31, 2020			2,466,670			$	8.03				9.61			$	21,678
Granted			106,000				20.12								—
Forfeited			(27,892	)			7.18								—
Outstanding as of March 31, 2021			2,544,778			$	8.57				8.64			$	33,976
Exercisable, March 31, 2021			2,009,995			$	8.16				8.67			$	27,742
Vested and expected to vest, March 31, 2021			2,544,778			$	8.57				8.64			$	33,976

Schedule of Stock Options Weighted Average Assumptions

  The Company estimated the fair value of options granted using a Black-Scholes option pricing model with the following assumptions presented on a weighted average basis:

		Three Months Ended March 31,
		2021				2020
Expected option life			5.95				5.88
Expected volatility			66.70	%			59.95	%
Risk-free interest rate			0.76	%			0.58	%
Expected dividend yield			—	%			—	%
Fair value of underlying common stock		$	20.13			$	9.24
Fair value of option		$	11.94			$	5.67

Summary of Restricted Stock Award Activity

The following table summarizes the stock award activity for all stock plans during the quarter ended March 31, 2021:

		Number of Shares				Grant-Date Fair Value
Unvested restricted common stock as of December 31, 2020			83,334			$	1.96
Forfeited			(11,905	)			1.96
Unvested restricted common stock as of March 31, 2021			71,429			$	1.96

Schedule of Stock-based Compensation Expense

Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows:

		Three Months Ended March 31,
(in thousands)		2021				2020
Research and development expense		$	482			$	78
General and administrative expense			1,350				124
Total stock-based compensation expense		$	1,832			$	202

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