Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six months ended June 30, 2023:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022		3,300,935		$	6.29		9.26	$	18,346
Granted		109,789			14.45
Exercised		(148,258	)		2.56
Forfeited or canceled		(131,836	)		5.22
Outstanding as of June 30, 2023		3,130,630		$	6.80		8.41	$	19,503
Vested and expected to vest as of June 30, 2023		3,130,630		$	6.80		8.41	$	19,503
Vested and exercisable as of June 30, 2023		914,489		$	2.64		6.68	$	9,439

Summary of RSU activity

A summary of the RSU activity during the six months ended June 30, 2023 is as follows:

	Restricted Stock Units			Weighted-Average Grant Date Fair Value
Unvested at December 31, 2022		1,787,152		$	12.49
Granted		25,781			15.10
Vested		—			—
Forfeited		(7,878	)		12.50
Unvested at June 30, 2023		1,805,055		$	12.53

Summary of Share-based Compensation Expense

Stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
General and administrative	$	2,075	$	82	$	4,095	$	95
Research and development		611		151		1,237		178
Total stock-based compensation expense	$	2,686	$	233	$	5,332	$	273