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Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Recognized Stock-Based Compensation

The Company recognized stock-based compensation as follows:

		Three Months Ended March 31,
		2022				2021
		(In thousands)
Research and development		$	6,626			$	4,363
General and administrative			5,313				4,437
Total stock-based compensation		$	11,939			$	8,800

Summary of Options to Purchase Common Stock

		Number of Options				Weighted Average Exercise Price Per Share				Weighted Average Remaining Contractual Term				Aggregate Intrinsic Value
										(In years)				(In thousands)
Outstanding as of December 31, 2021			11,644,070			$	16.41
Granted			1,575,780				17.27
Exercised			(234,117	)			10.61
Forfeited			(460,926	)			18.38
Outstanding as of March 31, 2022			12,524,807			$	16.55			$	8.3			$	19,371
Exercisable as of March 31, 2022			5,152,851			$	14.95			$	7.5			$	12,167
Vested and expected to vest as of March 31,    2022			12,524,807			$	16.55			$	8.3			$	19,371

Summary of Restricted Stock Awards and Restricted Stock Units

Activity for the restricted stock awards and RSUs is shown below. In May 2021, the Company began to issue RSUs with market conditions to certain executives, which are included in the table below. The RSUs with market conditions are earned based on stock price performance and continued service by the employee.

		Number of Shares				Weighted Average Grant Date Fair Value per Share
Unvested restricted stock units as of December 31, 2021			1,373,874			$	18.35
Granted			118,000				19.14
Vested			(104,368	)			19.67
Forfeited			(52,136	)			20.31
Unvested restricted stock units as of    March 31, 2022			1,335,370			$	18.24

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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 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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