Stock-based compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

Stock-based compensation expense for the three and nine months ended September 30, 2023 and 2022 was classified in the Company’s condensed consolidated statement of operations and comprehensive loss as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock-based compensation expense:
Research and development	$	3,906	$	2,636	$	9,133	$	10,024
General and administrative	4,294		3,375		11,743		13,073
Total stock-based compensation expense	$	8,200	$	6,011	$	20,876	$	23,097

Summary of RSU activity

The following table summarizes the Company’s RSU activity for the nine months ended September 30, 2023:

	Shares	Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2022	—	$	—
Issued	824,600	5.37
Vested	—	—
Forfeited	(68,640)	$	5.67
Outstanding as of September 30, 2023	755,960	$	5.35

As of September 30, 2023, the unrecognized compensation cost related to outstanding RSUs was $3.4 million, which is expected to be recognized over a weighted-average period of 3.4 years.