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Stock-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Option Activity with in 2014 Stock Incentive Plan and 2019 Incentive Award Plan

The below summary includes stock option activity within the Company’s 2014 Stock Incentive Plan and 2019 Incentive Award Plan for the nine months ended September 30, 2023:

 

 

Number of
shares

 

 

Weighted
average
exercise

 

 

Weighted average
remaining contractual
term

 

 

Aggregate
intrinsic

 

 

 

in Plans

 

 

price

 

 

(in years)

 

 

value

 

Outstanding as of December 31, 2022

 

 

5,742,053

 

 

$

2.35

 

 

 

6.69

 

 

$

9,114

 

Granted

 

 

27,350

 

 

 

4.66

 

 

 

4.66

 

 

 

—

 

Exercised

 

 

(2,969

)

 

 

0.07

 

 

 

—

 

 

$

1

 

Forfeited

 

 

(1,103,713

)

 

 

2.45

 

 

 

—

 

 

 

—

 

Outstanding as of September 30, 2023

 

 

4,662,721

 

 

$

2.34

 

 

 

6.20

 

 

$

3

 

Options exercisable as of September 30, 2023

 

 

4,324,933

 

 

$

2.35

 

 

 

5.92

 

 

$

3

 

Options unvested as of September 30, 2023

 

 

337,788

 

 

$

2.23

 

 

 

7.28

 

 

$

—

 
Summary of Grant-date Fair Value of Stock Options Granted on Weighted Average Basis

The assumptions that the Company used to determine the grant-date fair value of stock options granted to employees and directors were as follows, presented on a weighted average basis:

 

 

 

September 30,

 

 

 

2023

 

Risk-free interest rate

 

 

3.6

%

Expected term (in years)

 

 

6.0

 

Expected volatility

 

 

92.0

%

Expected dividend yield

 

 

0.0

%

 
Summary of Recognized Stock-based Compensation

The Company recognized stock-based compensation within the accompanying consolidated statements of operations as follows:

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Research and development

 

$

750

 

 

$

2,095

 

 

$

1,760

 

 

$

5,994

 

General and administrative

 

 

2,175

 

 

 

3,500

 

 

 

7,493

 

 

 

9,431

 

Total

 

$

2,925

 

 

$

5,595

 

 

$

9,253

 

 

$

15,425

 

 
Restricted Stock Units  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Status of Restricted Common Stock and Restricted Stock Units

The below summary includes restricted stock unit activity within the Company's 2019 Incentive Award Plan for the nine months ended September 30, 2023:

 

 

Number of
shares

 

 

Weighted
average fair
value

 

Unvested, December 31, 2022

 

 

3,101,650

 

 

$

2.51

 

Awarded

 

 

1,666,340

 

 

 

4.78

 

Vested

 

 

(1,630,150

)

 

 

2.91

 

Forfeited

 

 

(1,207,690

)

 

 

3.58

 

Unvested as of September 30, 2023

 

 

1,930,150

 

 

$

3.47