Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Stock-based Compensation

Summary of stock option activity

				Weighted
		Weighted		average	Aggregate
		average		remaining	Intrinsic
		exercise		contractual	Value (in
	Options	price		term (years)	thousands)
Outstanding as of December 31, 2022	3,356,937	$	1.01
Sesen Bio options assumed in the Merger	765,223		27.94
Exercised	—		—
Granted	144,352		5.64
Forfeited	(82,427)		1.46
Expired	(38)		1.46
Outstanding as of March 31, 2023	4,184,047	$	6.11	5.9	$	6,798
Exercisable as of March 31, 2023	3,015,084	$	5.58	3.6	$	5,057
Vested and expected to vest at March 31, 2023	4,184,047	$	6.11	5.9	$	6,798

Summary of estimated using the Black-Scholes option-pricing model

	Three Months Ended March 31,
	2023		2022
Risk-free interest rate	2.92% - 4.03%		2.40% - 2.41	%
Expected term	6 years		6 years
Expected volatility	57.77% - 62.65	%	54.54% - 54.58	%
Expected dividend yield	—		—

Summary of stock-based compensation expense

	Three months ended March 31,
	2023		2022
Research and development	$	10	$	41
General and administrative		255		48
	$	265	$	89