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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2021				2020				2021				2020
Research and development		$	858			$	134			$	3,861			$	364
General and administrative			1,567				75				6,084				190
Total stock-based compensation		$	2,425			$	209			$	9,945			$	554

Schedule of outstanding common stock options and related activity

Equity		Number of Options				Weighted Average Exercise Price Per Share				Weighted Average Remaining Term (Years)				Intrinsic Value
Outstanding - December 31, 2020			7,032,591			$	0.97				5.34			$	62,462
Granted			2,574,441				8.85				9.61				-
Exercised			(409,867	)			1.04				-				2,373
Forfeited			(133,742	)			8.66				-				-
Outstanding - September 30, 2021			9,063,423			$	3.09				5.90			$	38,863
Options vested and exercisable - September 30, 2021			6,000,723			$	0.82				4.33			$	36,247
Stock options vested and expected to vest - September 30, 2021			9,063,423			$	3.09				5.90			$	38,863

Schedule of assumptions used to calculate the fair value of stock options

		Nine months ended September 30, 2021
Expected stock price volatility			84.8 – 87.4%
Risk-free interest rate			0.59 – 0.94%
Expected dividend yield			0.00%
Expected term			6.00 years

Schedule of restricted common stock activity

		Number of Restricted Stock Awards				Weighted- Average Grant Date Fair Value
Outstanding and unvested balance as of December 31, 2020			1,507,062			$	10.30
Converted to shares of Common Stock upon vesting			(224,109	)			-
Forfeited			(37,464	)			10.82
Outstanding and unvested balance as of September 30, 2021			1,245,489			$	10.14

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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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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.

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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.

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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.

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