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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Activities Under Company's Stock Option Plans

The following table summarizes the Company's stock option activities:

						Options Outstanding
		Number of Shares				Weighted- Average Exercise Price Per Share				Weighted- Average Remaining Contractual Life (years)				Aggregate Intrinsic Value
														(in thousands)
Balances at December 31, 2021			12,192,216			$	9.42
Options granted			4,991,018				2.93
Options exercised			(102,221	)			0.98
Options cancelled			(3,791,175	)			7.25
Balances at December 31, 2022			13,289,838				7.67				6.2			$	29.3
Options Exercisable—December 31, 2022			7,429,335			$	10.22				5.0			$	10.3

Total Stock-based Compensation Recognized

Total stock-based compensation recorded related to stock options, TRSUs, PSUs and the ESPP was as follows (in thousands):

		Year Ended December 31,
		2022				2021
Research and development		$	5,544			$	5,797
General and administrative			7,581				7,370
Total stock-based compensation expense		$	13,125			$	13,167

Schedule of Estimated Fair Value of Employee Stock Options and ESPP Using Black-Scholes Valuation Model

The Company estimated the fair value of employee stock options and ESPP using the Black-Scholes valuation model based on the date of grant with the following assumptions:

		Options				ESPP
		Year Ended December 31,				Year Ended December 31,
		2022		2021		2022		2021
Expected volatility		74.6% - 83.3%		69.6% - 74.8%		93.3% - 96.1%		46.9% - 69.6%
Risk-free interest rate		1.6% - 4.3%		0.5% - 1.3%		1.6% - 4.7%		0.04% - 0.10%
Dividend yield		— %		— %		— %		— %
Expected term    (in years)		4.3 - 4.6		4.5 - 4.8		0.5		0.5

Time based RSUs

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Company's TRSU Activities

The following table summarizes the Company's TRSU activities:

		Number of Shares				Weighted- Average Remaining Contractual Life (years)				Aggregate Intrinsic Value (in thousands)				Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2021			433,250											$	5.34
RSUs awarded			1,314,210												2.74
RSUs vested			(134,125	)											5.34
RSUs cancelled			(400,451	)											4.45
Balance at December 31, 2022			1,212,884				1.2			$	1,941			$	2.81

The Company recorded $1.2 million and $0.2 million of stock-based compensation expense related to the TRSUs for the year ended December 31, 2022 and 2021, respectively.

Performance based RSUs

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Activities for Company's PSUs

The following table summarizes the Company's PSU activities:

		Number of Shares				Weighted- Average Remaining Contractual Life (years)				Aggregate Intrinsic Value (in thousands)				Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2021			435,000											$	5.34
PSUs awarded			250,000												1.59
PSUs vested			(193,750	)											5.34
PSUs cancelled			(107,500	)											5.12
Balance at December 31, 2022			383,750				1.3			$	614			$	2.96

As of December 31, 2022, the unrecognized compensation expense with respect to PSUs granted was $0.1 million and is expected to be recognized over 1.25 years.

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