XML 34 R24.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

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


	Number of Options	Weighted- Average Exercise Price Per Share
Outstanding at December 31, 2022	9,352	$	15.28
Granted	2,032	21.12
Exercised	(114)	4.60
Forfeited/expired	(292)	19.74
Outstanding at June 30, 2023	10,978	$	16.35

Schedule of Unvested Restricted Stock Units Roll Forward

The following table summarizes the RSU activity for the six months ended June 30, 2023 (in thousands, except per share data):


	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested at December 31, 2022	—	$	—
Granted	669	21.60
Vested	—	—
Forfeited	(34)	22.47
Unvested at June 30, 2023	635	$	21.55

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The assumptions used in the Black-Scholes model to determine the fair value of stock option grants were as follows:


	Options		ESPP
	Six Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Risk-free interest rate	3.5% - 4.0%	1.5% - 3.4%	5.4%	2.2%
Expected volatility	81% - 82%	85%	76%	79%
Expected term (in years)	5.5 - 6.1	5.5 - 6.1	0.5	0.5
Expected dividend yield	—%	—%	—%	—%

Schedule of Allocated Stock-based Compensation Expense

The allocation of stock-based compensation expense for stock option and RSU awards and shares purchasable under the ESPP was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Research and development expense	$	5,442	$	3,531	$	10,714	$	6,797
General and administrative expense	4,011		2,977		7,843		5,949
Total stock-based compensation expense	$	9,453	$	6,508	$	18,557	$	12,746