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Stock-Based Incentive Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Available for Grant
A summary of shares available for grant under the Company’s 2021 Equity Incentive Plan, or the 2021 Plan, is as follows:
Shares Available for Grant
Shares available for grant as of January 1, 20222,132,750 
Shares authorized1,222,649 
Granted/Awarded(1,863,948)
Cancelled68,008 
Shares available for grant as of March 31, 2022
1,559,459 
Summary of Stock Option Activity
A summary of stock option activity for the three months ended March 31, 2022 is set forth below:
Options Outstanding
Number of SharesWeighted-Average Exercise PriceWeighted Average Remaining Contractual Term (in Years)
Balances as of January 1, 20223,038,970 $2.61 8.83
Granted580,700 $8.12 
Exercised(38,635)$0.03 
Cancelled(37,319)$0.06 
Balances at March 31, 2022
3,543,716 $3.56 8.78
Vested and exercisable at March 31, 2022
1,182,725 $0.84 8.34
Vested and expected to vest at March 31, 2022
3,543,716 $3.56 8.78
Schedule of Restricted Stock Units
Activity with respect to restricted stock units was as follows:
Number of Shares Underlying Outstanding Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested, January 1, 2022596,085 $22.06 
Granted1,283,248 $8.30 
Cancelled(30,689)$20.53 
Unvested, March 31, 20221,848,644 $12.53 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The Company recognized stock-based compensation as follows (in thousands):
Three Months Ended March 31,
20222021
Cost of goods sold$110 $10 
Research and development440 37 
Selling, general and administrative938 155 
Total stock-based compensation$1,488 $202 
The above stock-based compensation expense related to the following equity-based awards (in thousands):
Three Months Ended March 31,
20222021
Stock options and restricted stock units$1,352 $202 
ESPP136 — 
Total stock-based compensation$1,488 $202