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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2022:

 

 

 

Options

 

 

Weighted-Average Exercise Price

 

Outstanding as of December 31, 2021

 

 

2,673,775

 

 

$

8.49

 

Granted

 

 

2,497,783

 

 

$

12.93

 

Exercised

 

 

(99,929

)

 

$

1.56

 

Forfeited

 

 

(10,000

)

 

$

20.89

 

Balance at March 31, 2022

 

 

5,061,629

 

 

$

10.79

 

Stock-Based Compensation Expense Reported in Condensed Statements of Operations

Stock-based compensation expense has been reported in the Company's condensed statements of operations as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$

1,036

 

 

$

164

 

General and administrative

 

 

1,324

 

 

 

483

 

Total

 

$

2,360

 

 

$

647