Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-based Payment Arrangement [Abstract]

Summary of stock option activity

The following table summarizes stock option activity during the three months ended March 31, 2023:

	Shares			Weighted average exercise price
Outstanding at January 1, 2023		2,857,054		$	81.78
Options granted		5,205			283.08
Options exercised		(180,551	)		99.16
Options cancelled		(5,110	)		76.07
Outstanding at March 31, 2023		2,676,598		$	81.02
Exercisable at March 31, 2023		1,637,134		$	75.71

Schedule of stock-based compensation expense

Stock-based compensation expense during the three months ended March 31, 2023 and 2022 was as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Stock-based compensation expense by type of award:
Stock options	$	8,598	$	7,477
Restricted stock units		2,652		—
Total stock-based compensation expense	$	11,250	$	7,477
Effect of stock-based compensation expense by line item:
Research and development	$	5,385	$	3,187
General and administrative		5,865		4,290
Total stock-based compensation expense included in net loss	$	11,250	$	7,477