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Stock-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expense by Classification | Stock-based compensation expense by classification included within the Condensed Consolidated Statements of Operations and Comprehensive Loss was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Research and development | $ | 5,279 |  |  | $ | 4,195 |  |  | $ | 9,891 |  |  | $ | 7,959 |
General and administrative | 8,944 |  |  | 18,215 |  |  | 18,214 |  |  | 36,479 |
Total stock-based compensation expense | $ | 14,223 |  |  | $ | 22,410 |  |  | $ | 28,105 |  |  | $ | 44,438 |
Schedule of RSU Activity | A summary of the Company’s RSU activity was as follows:
| Restricted Stock Units Outstanding |  | Weighted-Average Value at Grant Date Per Share
Unvested RSUs as of December 31, 2022 | 872,077 |  |  | $ | 5.98 |
RSUs granted | 1,997,177 |  |  | $ | 2.16 |
RSUs vested | (127,886) |  |  | $ | 5.98 |
RSUs forfeited or canceled | (117,669) |  |  | $ | 4.28 |
Unvested RSUs as of June 30, 2023 | 2,623,699 |  |  | $ | 3.15 |
Schedule of Stock Option Activity | A summary of the Company’s stock option activity was as follows:
| Number of Stock Options |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in thousands)
Options outstanding as of December 31, 2022 | 53,849,045 |  | $ | 5.09 |  |  | 7.84 |  | $ | 24,887 |
Granted | 8,586,063 |  | $ | 2.23 |  |  |  |  |
Exercised | (832,840) |  |  | $ | 0.10 |  |  |  |  |
Canceled or forfeited | (2,959,671) |  |  | $ | 5.12 |  |  |  |  |
Options outstanding as of June 30, 2023 | 58,642,597 |  | $ | 4.74 |  |  | 7.73 |  | $ | 26,401 |
Options exercisable as of June 30, 2023 | 30,365,614 |  | $ | 4.77 |  |  | 6.61 |  | $ | 18,878 |
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model for Estimating Fair Value of Stock Options Granted | The fair value of stock options granted to employees, directors and consultants was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted-average assumptions:
| Six Months Ended June 30,
| 2023 |  | 2022
Risk-free interest rate | 4.09 | % |  | 2.28 | %
Expected volatility | 92.4 | % |  | 85.5 | %
Expected term (in years) | 5.99 |  | 5.98
Expected dividend yield | 0 | % |  | 0 | %

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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