v3.22.2.2
Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

Stock option activity under the 2019 Equity Incentive Plan (the “2019 Plan”) is set forth below for the nine months ended September 30, 2022:

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Shares

 

 

Price Per

 

 

Term

 

 

Value

 

 

 

Outstanding

 

 

Share

 

 

(Years)

 

 

(in thousands)

 

Balances at December 31, 2021

 

 

2,024,681

 

 

$

18.33

 

 

 

8.0

 

 

$

38,417

 

Stock options authorized

 

 

 

 

 

 

 

 

 

 

 

 

Stock options granted

 

 

1,103,382

 

 

 

19.70

 

 

 

 

 

 

 

Stock options exercised

 

 

(72,266

)

 

 

8.88

 

 

 

 

 

 

 

Stock options forfeited

 

 

(83,750

)

 

 

25.13

 

 

 

 

 

 

 

Balances at September 30, 2022

 

 

2,972,047

 

 

$

18.87

 

 

 

8.1

 

 

$

19,789

 

Summary of RSU Activity

Restricted stock unit (“RSU”) activity under the 2019 Plan is set forth below for the nine months ended September 30, 2022:

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

 

Outstanding

 

 

Per Share

 

Balances at December 31, 2021

 

 

40,500

 

 

$

44.66

 

RSUs granted

 

 

 

 

 

 

RSUs vested and settled

 

 

(13,500

)

 

 

44.66

 

RSUs forfeited

 

 

 

 

 

 

Balances at September 30, 2022

 

 

27,000

 

 

$

44.66

 

Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized for options and RSUs granted to both employees and non-employees and for the 2019 Employee Stock Purchase Plan (the “2019 ESPP”) was as follows (in thousands):

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Research and development

 

$

1,307

 

 

$

1,125

 

 

$

3,755

 

 

$

4,308

 

General and administrative

 

 

1,558

 

 

 

880

 

 

 

4,484

 

 

 

3,558

 

Total stock-based compensation expense

 

$

2,865

 

 

$

2,005

 

 

$

8,239

 

 

$

7,866