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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the option activity under the 2020 Plan and 2015 Plan during the six months ended June 30, 2023:
|  | Number of shares |  |  | Weighted- average exercise price |  |  | Weighted- average remaining contractual term (in years) |
Outstanding at December 31, 2022 |  |  | 5,519,275 |  |  | $ | 17.17 |  |  |  | 8.1 |
Granted |  |  | 1,591,028 |  |  |  | 5.44 |  |  |  |
Exercised |  |  | (6,145 | ) |  |  | 3.61 |  |  |  |
Forfeited |  |  | (346,329 | ) |  |  | 15.08 |  |  |  |
Outstanding at June 30, 2023 |  |  | 6,757,829 |  |  | $ | 14.53 |  |  |  | 7.7 |
Exercisable at June 30, 2023 |  |  | 3,190,539 |  |  | $ | 16.68 |  |  |  | 6.5 |
Vested and expected to vest at June 30, 2023 |  |  | 6,757,829 |  |  | $ | 14.53 |  |  |  | 7.7 |
Summary of Restricted Stock Unit Activity | The following table summarizes the restricted stock unit activity under the 2020 Plan during the six months ended June 30, 2023:
|  | Number of shares |  |  | Weighted-average grant date fair value per share |
Outstanding at December 31, 2022 |  |  | 356,728 |  |  | $ | 12.66 |
Granted |  |  | 503,639 |  |  |  | 5.57 |
Vested |  |  | (78,543 | ) |  |  | 12.18 |
Forfeited |  |  | (64,868 | ) |  |  | 7.58 |
Outstanding at June 30, 2023 |  |  | 716,956 |  |  | $ | 8.19 |
Summary of Share-based Compensation Expense | Share-based compensation expense for the three and six ended June 30, 2023 and 2022 was as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Research and development |  | $ | 2,123 |  |  | $ | 1,602 |  |  | $ | 4,205 |  |  | $ | 3,457 |
General and administrative |  |  | 2,527 |  |  |  | 2,310 |  |  |  | 5,191 |  |  |  | 4,552 |
Total share-based compensation |  | $ | 4,650 |  |  | $ | 3,912 |  |  | $ | 9,396 |  |  | $ | 8,009 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 + Details
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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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