Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Option Activity

Stock option activity under the 2020 Plan as of March 31, 2023 is summarized as follows:

	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
				(in years)	(in thousands)
Balance, December 31, 2022	7,454,665	$	11.83
Granted	2,385,324	2.08
Forfeited	(504,408)	11.97
Exercised	(82,094)	3.72
Balance, March 31, 2023	9,253,487	$	9.38	7.98	$	44

Schedule of Nonvested Share Activity

Restricted stock awards and units as of March 31, 2023 are summarized as follows:

	Number of Restricted Stock	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Vesting Life	Aggregate Intrinsic Value
				(in years)	(in thousands)
Unvested, December 31, 2022	2,297,745	$	9.18
Granted	1,209,648	2.08
Vested and converted to shares	(304,224)	12.83
Forfeited	(313,254)	6.24
Unvested, March 31, 2023	2,889,915	$	6.15	1.93	$	4,219

Stock-based Compensation, Classified in Statements of Operations

Total stock-based compensation expense related to stock options, restricted stock units, restricted stock awards and the employee stock purchase plan for the three months ended March 31, 2023 and 2022 is as follows:

	Three months ended March 31,
	2023		2022
	(in thousands)
Research and development expenses	$	3,112	$	3,804
General and administrative expenses	3,495		3,984
Total stock-based compensation expense	$	6,607	$	7,788