Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Unvested Share Activity

Ordinary Shares

A summary of the changes in the Company’s unvested ordinary shares during the year ended December 31, 2022, 2021 and 2020 are as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested and Outstanding as of December 31, 2020	13,757	$	2.36
Granted	—	$	—
Vested	(13,757)	$	2.36
Forfeited	—	$	—
Unvested and Outstanding as of December 31, 2022 and 2021	—	$	—

Schedule of Nonvested Restricted Share Units Activity

A summary of the changes in the Company’s unvested restricted share units during the years ended December 31, 2022, 2021 and 2020 are as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested and Outstanding as of December 31, 2020	217,482	$	10.19
Granted	—	—
Vested	(70,482)	10.19
Forfeited	(31,860)	10.19
Unvested and Outstanding as of December 31, 2021	115,140	$	10.19
Granted	202,830	13.52
Vested	(42,635)	9.77
Forfeited	(4,200)	14.44
Unvested and Outstanding as of December 31, 2022	271,135	$	12.23

Schedule of Share-based Payment Arrangement, Option Activity

The following table summarizes the Company’s share options activity for the years ended December 31, 2022, 2021 and 2020:

	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2020	4,430,340	$	5.61	9.22	$	186,426
Granted	1,043,702	$	36.11
Exercised	(1,244,709)	$	1.55
Cancelled or forfeited	(313,830)	$	22.45
Outstanding as of December 31, 2021	3,915,503	$	13.53	8.64	$	51,162
Granted	2,120,783	$	13.49
Exercised	(462,722)	$	0.75
Cancelled or forfeited	(480,832)	$	11.09
Outstanding as of December 31, 2022	5,092,732	$	13.55	8.38	$	13,013
Exercisable as of December 31, 2022	2,342,389	$	9.14	7.67	$	11,765
Unvested as of December 31, 2022	2,750,343	$	17.31	8.99	$	1,247

Schedule of Valuation Assumptions

The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the share options granted to employees and directors during the years ended December 31, 2022, 2021 and 2020 were as follows:

	Year Ended December 31,
	2022			2021			2020
Expected option life (years)	5.95 years			5.73 years			5.95 years
Expected volatility	80.76		%	67.36		%	66.10		%
Risk-free interest rate	2.26		%	0.95		%	0.43		%
Expected dividend yield	—		%	—		%	—		%
Fair value of underlying ordinary shares	$	14.06		$	35.21		$	12.58

Summary of Share-based Compensation Expense

Share-based compensation expense recorded as research and development and general and administrative expenses is as follows (in thousands):

	Year Ended December 31,
	2022		2021		2020
Research and development	7,358		4,569		6,336
General and administrative	5,765		4,070		11,647
Total stock based compensation expense	$	13,123	$	8,639	$	17,983