XML 43 R28.htm IDEA: XBRL DOCUMENT v3.22.0.1
Stockholders' Equity (Deficit) (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Summary of Stock Option Activity

Stock option activity for employee and nonemployee awards and related information is as follows (in thousands, except per share and contractual term data):

 

 

 

Number of

Options

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Weighted-

Average

Remaining

Contractual

Term

(in years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at December 31, 2020

 

 

3,788

 

 

$

9.06

 

 

 

 

 

 

 

 

 

Granted

 

 

2,671

 

 

 

23.23

 

 

 

 

 

 

 

 

 

Exercised

 

 

(172

)

 

 

5.42

 

 

 

 

 

 

 

 

 

Forfeited/expired

 

 

(509

)

 

 

22.99

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

5,778

 

 

$

14.49

 

 

 

8.5

 

 

$

58,950

 

Vested and expected to vest at

    December 31, 2021

 

 

5,778

 

 

$

14.49

 

 

 

8.5

 

 

$

58,950

 

Exercisable at December 31, 2021

 

 

1,885

 

 

$

8.91

 

 

 

7.8

 

 

$

29,226

 

Schedule of Assumptions used in Black-Scholes Model to Determine Fair Value of Stock/Unit Option Grants and Shares Purchasable under ESPP

The assumptions used in the Black-Scholes model to determine the fair value of stock/unit option grants and shares purchasable under the ESPP were as follows:

 

 

 

Year Ended December 31,

Stock/Unit Option Grants

 

2021

 

2020

 

2019

Risk-free interest rate

 

0.5% - 1.3%

 

0.3% - 1.5%

 

1.4% - 2.7%

Expected volatility

 

86% - 88%

 

88% - 92%

 

84% - 88%

Expected term (in years)

 

5.5 - 6.1

 

5.4 - 6.1

 

2.0 - 6.1

Expected dividend yield

 

—%

 

—%

 

—%

 

 

 

Year Ended December 31,

ESPP

 

2021

 

 

2020

 

2019

Risk-free interest rate

 

0.1%

 

 

0.1% - 0.2%

 

N/A

Expected volatility

 

69% - 75%

 

 

75% - 96%

 

N/A

Expected term (in years)

 

0.5

 

 

0.5

 

N/A

Expected dividend yield

 

—%

 

 

—%

 

N/A

Schedule of Allocated Stock-based Compensation Expense

The allocation of stock-based compensation expense was as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Research and development expense

 

$

9,228

 

 

$

1,895

 

 

$

84

 

General and administrative expense

 

 

7,828

 

 

 

2,415

 

 

 

322

 

Total stock-based compensation expense

 

$

17,056

 

 

$

4,310

 

 

$

406

 

Schedule of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following (in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Common stock options issued and outstanding

 

 

5,778

 

 

 

3,788

 

Equity awards available for future issuance

   under equity plans

 

 

2,575

 

 

 

2,852

 

Common stock authorized under the ESPP

 

 

639

 

 

 

296

 

Total

 

 

8,992

 

 

 

6,936