Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of RSUs Activity Under the Plan

Total stock-based compensation expense related to stock options, RSUs and the 2020 ESPP by function was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands)				(in thousands)
Research and development	$	8,151	$	4,804	$	21,493	$	13,203
General and administrative		5,515		3,334		14,852		9,677
Total	$	13,666	$	8,138	$	36,345	$	22,880

2020 Plan and 2014 Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Option Activity Under the Plan

Activity under the 2020 Plan and 2014 Plan with respect to the Company’s options during the nine months ended September 30, 2023 was as follows:

	Number of Shares underlying options			Weighted- average exercise price		Weighted- average remaining contractual term		Aggregate intrinsic value
						(in years)		(in thousands)
Balance, December 31, 2022		8,164,375		$	16.09		7.53	$	85,181
Options granted		3,259,120			26.44
Options exercised		(315,190	)		6.28
Options cancelled		(135,184	)		27.58
Balance, September 30, 2023		10,973,121		$	19.30		7.63	$	108,715
Options vested and expected to vest as of September 30, 2023		10,973,121		$	19.30		7.63	$	108,715
Options vested and exercisable as of September 30, 2023		5,833,956		$	14.00		6.46	$	89,932

2020 Equity Incentive Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of RSUs Activity Under the Plan

Activity under the 2020 Plan with respect to the Company’s restricted stock units (RSUs) during the nine months ended September 30, 2023 was as follows:

	Number of Shares			Weighted- average grant date fair value per share		Weighted- average remaining contractual term		Aggregate intrinsic value
						(in years)		(in thousands)
Balance, December 31, 2022		1,175,032		$	23.25		1.62	$	27,989
Restricted stock units granted		1,399,709
Restricted stock units vested		(420,209	)
Restricted stock units forfeited		(60,452	)
Balance, September 30, 2023		2,094,080		$	25.21		1.63		57,964
Expected to vest as of September 30, 2023		2,094,080		$	25.21		1.63		57,964