Stock-Based Compensation (Tables)

9 Months Ended

Aug. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Activity under 2020 Plan and 2012 Plan

Option activity under the Stock Plans is set forth below:

	Number of options outstanding			Weighted- average exercise price		Weighted- average contractual life (in years)		Aggregate intrinsic value⁽¹⁾ (in thousands)
Balances as of November 30, 2021		5,878,552		$	19.42		8.67	$	65,692
Options granted		3,000,206			18.28
Options exercised		(315,172	)		3.27
Options forfeited		(448,385	)		20.27
Balances as of August 31, 2022		8,115,201		$	19.58		8.65	$	20,921
Options vested and expected to vest as of August 31, 2022⁽²⁾		8,142,625		$	19.54		8.65	$	21,159
Options exercisable as of August 31, 2022		3,195,076		$	14.79		7.72	$	19,159

(1)	The aggregate intrinsic values were calculated as the pre-tax difference between the exercise price of stock options and the quoted market price of the Company’s common stock on August 31, 2022 for all in-the-money stock options.

(2)

Certain stock options granted by the Company prior to the date of IPO are exercisable at the date of grant, with unvested shares subject to repurchase by the Company in the event of a voluntary or involuntary termination of employment of the stockholder. Such exercises are recorded as a liability in the condensed consolidated balance sheets and reclassified into equity as the options vest. As of August 31, 2022, a total of 27,424 shares of common stock were subject to repurchase by the Company at the lower of (i) the fair market value of such shares on the date of repurchase, or (ii) the original exercise price of such shares. The corresponding exercise value of $0.2 million as of August 31, 2022 is recorded in share-based compensation liability.

Summary of RSU Activity

RSU activity under the Stock Plans is set forth below:

	Number of RSUs			Weighted-average grant date fair value
Balances as of November 30, 2021		20,000		$	27.42
RSUs granted		797,282			19.56
RSUs vested		(31,934	)		20.73
RSUs forfeited		(31,830	)		23.11
Balances as of August 31, 2022		753,518		$	19.57

Summary of Stock-Based Compensation Expense Related to Stock Options and 2020 ESPP Included in Statements of Operations

Stock-based compensation expense related to the Stock Plans and the ESPP that is included in the Company’s condensed consolidated statements of operations is as follows (in thousands):

	Three Months Ended,				Nine Months Ended,
	August 31,				August 31,
	2022		2021		2022		2021
Research and development	$	4,229	$	2,212	$	11,766	$	5,450
General and administrative		2,759		2,101		8,068		5,507
Total stock-based compensation	$	6,988	$	4,313	$	19,834	$	10,957