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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Schedule of Assumptions used to Determine Grant Date Fair Value under ESPP Offering | The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value under the ESPP offering were as follows:
|  |  |  |  |  | Year Ended December 31, |
|  |  |  |  |  | 2021 |
Risk-free interest rate |  |  |  |  |  |  | 0.05 | %
Expected term (in years) |  |  |  |  |  |  | 0.50 |
Expected volatility |  |  |  |  |  |  | 61.91 | %
Expected dividend yield |  |  |  |  |  |  | 0.00 | %
Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model | The assumptions that the Company 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:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Risk-free interest rate |  |  | 0.80 | % |  |  | 0.45 | % |  |  | 1.94 | %
Expected term (in years) |  |  | 6.00 |  |  |  | 6.07 |  |  |  | 6.10 |
Expected volatility |  |  | 75.99 | % |  |  | 72.26 | % |  |  | 71.41 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Schedule of Share Option Activity | The following table summarizes the Company’s share option activity:
|  | 2021 |
|  | Number of shares |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual term (in years) |  |  | Intrinsic value (in thousands) |
Outstanding, January 1 |  |  | 4,132,123 |  |  | $ | 6.39 |  |  |  |  |  |  |
Granted |  |  | 1,645,416 |  |  | $ | 34.14 |  |  |  |  |  |  |
Exercised |  |  | (333,996 | ) |  | $ | 2.96 |  |  |  |  |  |  |
Forfeited |  |  | (120,952 | ) |  | $ | 25.26 |  |  |  |  |  |  |
Outstanding, December 31 |  |  | 5,322,591 |  |  | $ | 14.76 |  |  |  | 8.15 |  |  | $ | 55,722 |
Options exercisable, December 31 |  |  | 2,090,060 |  |  | $ | 6.28 |  |  |  | 7.47 |  |  | $ | 32,409 |
Options unvested, December 31 |  |  | 3,232,531 |  |  | $ | 20.24 |  |  |  | 8.59 |  |  | $ | 23,313 |
Schedule of Share-based Compensation Expense | Share-based compensation expense for all awards was allocated as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in thousands) |
Research and development |  | $ | 5,681 |  |  | $ | 890 |  |  | $ | 250 |
General and administrative |  |  | 7,148 |  |  |  | 1,647 |  |  |  | 261 |
Total share-based compensation expense |  | $ | 12,829 |  |  | $ | 2,537 |  |  | $ | 511 |
Share-based compensation expense by type of award was as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in thousands) |
Stock options |  | $ | 12,632 |  |  | $ | 2,537 |  |  | $ | 511 |
ESPP |  |  | 197 |  |  |  | - |  |  |  | - |
Total share-based compensation expense |  | $ | 12,829 |  |  | $ | 2,537 |  |  | $ | 511 |

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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=122041274&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 employee stock purchase plans, including, but not limited to: (a) expected term, (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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- 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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