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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Schedule of Outstanding Stock Options | Total outstanding stock options as of June 30, 2021 and 2020 were as follows:
|  | 2021 |  |  | 2020 |
|  | Number of shares |  |  | Weighted average exercise price |  |  | Number of shares |  |  | Weighted average exercise price |
Outstanding at beginning of period |  |  | 4,132,123 |  |  | $ | 6.39 |  |  |  | 3,505,119 |  |  | $ | 2.07 |
Granted |  |  | 1,384,616 |  |  | $ | 35.79 |  |  |  | 869,075 |  |  | $ | 16.35 |
Exercised |  |  | (203,283 | ) |  | $ | 3.11 |  |  |  | (266,687 | ) |  | $ | 1.83 |
Cancelled or forfeited |  |  | (55,451 | ) |  | $ | 25.08 |  |  |  | (7,962 | ) |  | $ | 2.13 |
Outstanding at end of period |  |  | 5,258,005 |  |  | $ | 14.06 |  |  |  | 4,099,545 |  |  | $ | 5.11 |
Schedule of Share-based Compensation Expense | Share-based compensation expense was allocated as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |  |  |  |  |  |  |  |  |
Research and development |  | $ | 1,366 |  |  | $ | 163 |  |  | $ | 2,353 |  |  | $ | 296 |
General and administrative |  | $ | 1,725 |  |  |  | 226 |  |  |  | 2,795 |  |  |  | 364 |
Total share-based compensation expense |  | $ | 3,091 |  |  | $ | 389 |  |  | $ | 5,148 |  |  | $ | 660 |
Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model | The fair value of stock options, and the assumptions used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted average basis:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Fair value of stock options |  | $ | 20.95 |  |  | $ | 10.30 |  |  | $ | 23.33 |  |  | $ | 10.30 |
Risk-free interest rate |  |  | 0.92 | % |  |  | 0.43 | % |  |  | 0.72 | % |  |  | 0.43 | %
Expected terms (in years) |  |  | 5.59 |  |  |  | 6.07 |  |  |  | 5.99 |  |  |  | 6.07 |
Expected volatility |  |  | 76.44 | % |  |  | 71.99 | % |  |  | 75.59 | % |  |  | 71.99 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -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 S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + 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 -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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