Share-based compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based compensation

Schedule of share based compensation expense

The Company recorded share-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Research and development expenses	$	1,089	$	522	$	2,299	$	1,195
General and administrative expenses		1,486		797		4,097		2,245
	$	2,575	$	1,319	$	6,396	$	3,440

Schedule of share option activity

				Weighted
		Weighted		Average	Aggregate
	Number of	Average		Contractual	Intrinsic
	Shares	Exercise Price		Term	Value
				(in years)	(in thousands)
Outstanding as of December 31, 2020	3,736,663	$	10.51	8.54	$	27,553
Granted	1,424,999		19.72	—		—
Exercised	(189,211)		9.83	—		—
Forfeited	(51,620)		15.38	—		—
Outstanding as of June 30, 2021	4,920,831	$	13.16	8.69	$	80,172
Vested and expected to vest as of June 30, 2021	4,920,831	$	13.16	8.69	$	80,172
Options exercisable as of June 30, 2021	2,169,250	$	9.90	8.18	$	39,782

Schedule of assumptions used to determine the fair value of share options granted

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Risk-free interest rate	1.0	%	0.4	%	0.5	%	1.5	%
Expected volatility	80.5	%	76.8	%	79.5	%	74.1	%
Expected dividend yield	—		—		—		—
Expected term (in years)	6.1		6.1		6.0		6.0