Stockholders'/Members' Equity (Deficit) (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of members' deficit

The statement of members' deficit for the three months ended June 30, 2020 is as follows (in thousands, except unit amounts):

	Class C Preferred Units				Class A Units				Additional Paid-in		Accumulated			Noncontrolling			Total Members’
	Units		Amount		Units		Amount		Capital		Deficit			Interest			Deficit
Balance at March 31, 2020		23,968,178	$	89,345		54,600,000	$	750	$	2,295	$	(149,958	)	$	(47	)	$	(57,615	)
Net loss		—		—		—		—		—		(6,222	)		—			(6,222	)
Balance at June 30, 2020		23,968,178	$	89,345		54,600,000	$	750	$	2,295	$	(156,180	)	$	(47	)	$	(63,837	)

The statement of members' deficit for the six months ended June 30, 2020 is as follows (in thousands, except unit amounts):

	Class C Preferred Units				Class A Units				Additional Paid-in		Accumulated			Noncontrolling			Total Members’
	Units		Amount		Units		Amount		Capital		Deficit			Interest			Deficit
Balance at December 31, 2019		23,968,178	$	89,345		54,600,000	$	750	$	2,295	$	(148,354	)	$	(47	)	$	(56,011	)
Net loss		—		—		—		—		—		(7,826	)		—			(7,826	)
Balance at June 30, 2020		23,968,178	$	89,345		54,600,000	$	750	$	2,295	$	(156,180	)	$	(47	)	$	(63,837	)

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the three and six months ended June 30, 2021 has been reported in the consolidated statements of operations and comprehensive loss as follows (in thousands):

	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Research and development	$	1,154	$	2,109
General and administrative		11,144		14,832
Total	$	12,298	$	16,941

Summary of Restricted Stock Units

The following table summarizes RSU activity under the 2020 Plan for the six months ended June 30, 2021:

	Number of Shares			Weighted - Average Grant Date Fair Value
Outstanding at December 31, 2020		1,920,037		$	18.00
Vested		(138,461	)	$	18.00
Outstanding at June 30, 2021		1,781,576		$	18.00

Summary of Stock Option Activity

The following table summarizes stock option activity under the 2020 Plan for the six months ended June 30, 2021 (in thousands, except share and per share data and years):

	Number of Options		Weighted - Average Exercise Price Per Share		Weighted -Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value
Balance at December 31, 2020		615,106	$	18.00		9.95	$	9,848
Granted		235,043	$	44.57
Balance at June 30, 2021		850,149	$	25.35	9.48		$	15,199
Vested and expected to vest at June 30, 2021		850,149	$	25.35	9.48		$	15,199
Exercisable at June 30, 2021		7,747	$	18.00	0.16		$	189

Summary of Assumptions Used in Black-Scholes Model

The assumptions used in the Black-Scholes option pricing model to determine the fair value of stock option grants were as follows:

	Six Months Ended June 30, 2021
Expected volatility	74.76	%
Risk-free interest rate	0.98	%
Expected dividend yield	0.0	%
Expected term	5.94 years

Schedule of Common Stock Warrants

As of June 30, 2021 all the common stock warrants below are exercisable and expire as follows:

Outstanding and Exercisable		Exercise Price per Share		Expiration Date
	566,586	$	88.25	December 17, 2021
	151,088	$	132.37	March 12, 2022
	717,674

Schedule of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance are as follows in common equivalent shares:

	June 30, 2021		December 31, 2020
Warrants for the purchase of common stock		717,674		717,674
Common stock options and restricted stock units issued and    outstanding		2,631,725		2,535,143
Awards available for future issuance under the 2020 Plan		3,456,354		2,404,535
Awards available for future issuance under the ESPP		828,713		464,829
Total common stock reserved for future issuance		7,634,466		6,122,181