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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity for the six months ended June 30, 2023:
|  | Number of Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding as of December 31, 2022 |  |  | 3,300,935 |  |  | $ | 6.29 |  |  |  | 9.26 |  |  | $ | 18,346 |
Granted |  |  | 109,789 |  |  |  | 14.45 |  |  |  |  |  |  |
Exercised |  |  | (148,258 | ) |  |  | 2.56 |  |  |  |  |  |  |
Forfeited or canceled |  |  | (131,836 | ) |  |  | 5.22 |  |  |  |  |  |  |
Outstanding as of June 30, 2023 |  |  | 3,130,630 |  |  | $ | 6.80 |  |  |  | 8.41 |  |  | $ | 19,503 |
Vested and expected to vest as of June 30, 2023 |  |  | 3,130,630 |  |  | $ | 6.80 |  |  |  | 8.41 |  |  | $ | 19,503 |
Vested and exercisable as of June 30, 2023 |  |  | 914,489 |  |  | $ | 2.64 |  |  |  | 6.68 |  |  | $ | 9,439 |
Summary of RSU activity | A summary of the RSU activity during the six months ended June 30, 2023 is as follows:
|  | Restricted Stock Units |  |  | Weighted-Average Grant Date Fair Value |
Unvested at December 31, 2022 |  |  | 1,787,152 |  |  | $ | 12.49 |
Granted |  |  | 25,781 |  |  |  | 15.10 |
Vested |  |  | — |  |  |  | — |
Forfeited |  |  | (7,878 | ) |  |  | 12.50 |
Unvested at June 30, 2023 |  |  | 1,805,055 |  |  | $ | 12.53 |
Summary of Share-based Compensation Expense | Stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
General and administrative |  | $ | 2,075 |  |  | $ | 82 |  |  | $ | 4,095 |  |  | $ | 95 |
Research and development |  |  | 611 |  |  |  | 151 |  |  |  | 1,237 |  |  |  | 178 |
Total stock-based compensation expense |  | $ | 2,686 |  |  | $ | 233 |  |  | $ | 5,332 |  |  | $ | 273 |

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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 -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
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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