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Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Option Activity

		Number of Shares				Weighted-Average Exercise Price				Weighted-Average Contractual  Term (in years)				Average Intrinsic Value (in thousands)
Outstanding, December 31, 2021			4,996,945			$	6.05				7.6			$	58,420
Grants			1,388,900				17.04
Forfeited/cancelled			(882,457	)			7.53
Exercised			(683,482	)			0.84
Outstanding, December 31, 2022			4,819,906			$	9.67				7.7			$	19,463
Vested and exercisable as of December 31, 2022			2,288,715			$	6.76				6.8			$	14,220
Vested and expected to vest as of December 31, 2022			4,819,906			$	9.67				7.7			$	19,463

Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options

The Company estimated the fair value of stock options using the Black-Scholes option-pricing model. The fair value of stock options is recognized on a straight-line basis over the requisite service periods of the awards. The fair value of stock options was estimated using the following weighted-average assumptions:

		Years ended December 31,
		2022		2021
Expected term (in years)		5.38 – 6.95		4.99 – 6.18
Expected volatility		58.74% – 64.97%		56.74% – 61.08%
Risk-free interest rate		1.35% – 3.97%		0.47% – 1.33%
Dividend yield		–		–

Summary of restricted share award activity

The following table summarizes restricted share award activity:

		Number of Shares				Weighted-Average Grant Date Fair Value Per Share
Outstanding, December 31, 2021			53,250			$	22.91
Grants			1,101,923				14.32
Forfeited/cancelled			(130,022	)			17.62
Vested			(11,028	)			20.86
Outstanding, December 31, 2022			1,014,123			$	14.25

Summary of Stock-Based Compensation Expense by Function

The following is a summary of stock-based compensation expense by function (in thousands):

		Years Ended December 31,
		2022				2021
Cost of goods sold		$	167			$	71
Research and development			1,315				495
Selling, general and administrative			11,481				4,517
Total stock-based compensation expense		$	12,963			$	5,083

Two Thousand Twenty One Employee Stock Purchase Plan [ Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options

The fair value of shares to be issued under the ESPP was estimated using the Black-Scholes valuation model with the following assumptions for the year ended December 31, 2022:

		Year ended December 31,
		2022
Expected term (in years)		0.48 - 0.50
Expected volatility		76.50% - 97.38%
Risk-free interest rate		1.51% - 4.62%
Dividend yield		–

X

- Definition

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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