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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Stock Option Activity | The following table summarizes stock option activity for all of our plans during 2021:
|  | 2017 Plan |  |  | 2019 Inducement Plan |  |  | Total Number of Stock Options |
Outstanding as of December 31, 2020 |  |  | 3,137,233 |  |  |  | 545,000 |  |  |  | 3,682,233 |
Granted |  |  | 1,161,309 |  |  |  | 547,400 |  |  |  | 1,708,709 |
Exercised |  |  | (140,537 | ) |  |  | (20,137 | ) |  |  | (160,674 | )
Forfeited or cancelled |  |  | (264,400 | ) |  |  | (75,152 | ) |  |  | (339,552 | )
Outstanding as of December 31, 2021 |  |  | 3,893,605 |  |  |  | 997,111 |  |  |  | 4,890,716 |
The following table summarizes details regarding stock options granted under our equity incentive plans for the year ended December 31, 2021:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Term |  |  | Aggregate Intrinsic Value |
|  |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Outstanding as of December 31, 2020 |  |  | 3,682,233 |  |  | $ | 9.10 |  |  |  | 7.84 |  |  | $ | 37,881 |
Granted |  |  | 1,708,709 |  |  |  | 17.62 |  |  |  | — |  |  |  | — |
Exercised |  |  | (160,674 | ) |  |  | 9.02 |  |  |  | — |  |  |  | — |
Forfeited or cancelled |  |  | (339,552 | ) |  |  | 13.81 |  |  |  | — |  |  |  | — |
Outstanding as of December 31, 2021 |  |  | 4,890,716 |  |  | $ | 11.75 |  |  |  | 7.62 |  |  | $ | 24,263 |
Outstanding as of December 31, 2021 - vested and expected to vest |  |  | 4,890,716 |  |  | $ | 11.75 |  |  |  | 7.62 |  |  | $ | 24,263 |
Exercisable at December 31, 2021 |  |  | 2,524,419 |  |  | $ | 8.54 |  |  |  | 6.44 |  |  | $ | 18,904 |
Summary of Assumptions Used to Determine Fair Value of Stock Option Awards Granted to Employees and Directors | The assumptions that the Company used in the Black-Scholes option-pricing model to determine the fair value of stock option awards granted to employees and directors were as follows, presented on a weighted average basis:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Risk-free interest rate |  |  | 0.8 | % |  |  | 1.1 | %
Expected term (in years) |  |  | 6.2 |  |  |  | 6.2 |
Expected volatility |  |  | 92.6 | % |  |  | 82.7 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Summary of Share-Based Compensation Expense | The Company recorded share-based compensation expense, for both RSUs and stock options in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Research and development expenses |  | $ | 4,163 |  |  | $ | 2,229 |
General and administrative expenses |  |  | 5,267 |  |  |  | 2,659 |
Total |  | $ | 9,430 |  |  | $ | 4,888 |
Performance-based Vesting Criteria [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Activity of Options and RSUs of Performance-Based Options | The following table summarizes the activity of options and RSUs under the 2017 Plan containing performance-based vesting criteria during the year ended December 31, 2021:
|  | Number of Performance Based Option Shares |  |  | Number of Performance Based RSU Shares |
Outstanding as of December 31, 2020 |  |  | 63,107 |  |  |  | 30,561 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Forfeited or cancelled |  |  | (63,107 | ) |  |  | (30,561 | )
Outstanding as of December 31, 2021 |  |  | — |  |  |  | — |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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