XML 48 R21.htm IDEA: XBRL DOCUMENT
v3.23.2

Equity Incentive Plans and Stock-based Compensation (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Significant Assumptions | The significant assumptions used in these calculations are summarized as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Expected term (in years) | 5.3 - 6.1 |  | 5.3 - 6.1 |  | 5.3 - 6.4 |  | 5.3 - 6.1
Expected volatility | 103.1% - 106.5% |  | 105.2% - 109.1% |  | 102.7% - 107.5% |  | 105.2% - 110.0%
Expected dividend rate | 0.0 | % |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Risk free interest rate | 3.58% - 3.87% |  | 2.80% - 3.36% |  | 3.50% - 4.08% |  | 1.73% - 3.36%
Schedule of Option Award Activity | The following table summarizes option award activity during the six months ended June 30, 2023:
| Number of Stock Option Awards |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022 | 11,485,443 |  |  | $ | 4.12 |  |  |  |  |
Granted | 3,513,875 |  |  | $ | 2.34 |  |  |  |  |
Exercised | (5,907) |  |  | $ | 1.04 |  |  |  |  |
Forfeited | (294,356) |  |  | $ | 6.32 |  |  |  |  |
Outstanding as of June 30, 2023 | 14,699,055 |  |  | $ | 3.66 |  |  | 8.3 |  | $ | 19,434 |
Options vested and expected to vest as of June 30, 2023 | 14,699,055 |  |  | $ | 3.66 |  |  |  |  |
Vested and exercisable at June 30, 2023 | 6,171,783 |  |  | $ | 3.87 |  |  | 7.5 |  | $ | 9,668 |
Schedule of Stock-Based Compensation Expense | The following sets forth the total stock-based compensation expense included in the Company’s condensed consolidated statement of operations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Research and development | $ | 1,048 |  |  | $ | 975 |  |  | $ | 2,023 |  |  | $ | 1,843 |
General and administrative | 2,050 |  |  | 1,592 |  |  | 3,935 |  |  | 2,834 |
Total stock-based compensation expense | $ | 3,098 |  |  | $ | 2,567 |  |  | $ | 5,958 |  |  | $ | 4,677 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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. + 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
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
Name: | us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration