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Stock- Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Awards (RSA) Activity

The following is a summary of RSA transactions as of and for the six months ended June 30, 2023:

 

 

Unvested Shares

 

 

Weighted-Average
Grant Date Fair Value

 

Unvested, December 31, 2022

 

 

16,796

 

 

$

11.98

 

Vested

 

 

(9,095

)

 

 

11.98

 

Forfeited

 

 

(1,965

)

 

 

11.98

 

Unvested, June 30, 2023

 

 

5,736

 

 

$

11.98

 

 

Summary of Restricted Stock Unit (RSU) Activity

The following is a summary of RSU transactions as of and for the six months ended June 30, 2023:

 

 

Unvested Shares

 

 

Weighted-Average
Grant Date Fair Value

 

Outstanding, December 31, 2022

 

 

14,203

 

 

$

10.61

 

Granted

 

 

17,755

 

 

 

6.08

 

Vested

 

 

(4,006

)

 

 

12.86

 

Canceled and forfeited

 

 

(2,143

)

 

 

9.39

 

Outstanding, June 30, 2023

 

 

25,809

 

 

$

7.25

 

Summary of Stock Option Activity

The following is a summary of stock option activity as of and for the six months ended June 30, 2023:

 

 

Number of Options

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining Contractual Term (Years)

 

 

Aggregate Intrinsic Value

 

Outstanding, December 31, 2022

 

 

13,476

 

 

$

7.42

 

 

 

9.70

 

 

$

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Canceled and forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, June 30, 2023

 

 

13,476

 

 

$

7.42

 

 

 

9.21

 

 

$

23,083

 

Vested or expected to vest at June 30, 2023

 

 

13,476

 

 

$

7.42

 

 

 

9.21

 

 

$

23,083

 

Summary of Stock Based Compensation Expense

The Company recognized stock-based compensation expense related to RSAs, RSUs, and stock options within general and administrative expenses in the unaudited consolidated statements of operations and comprehensive loss as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Stock-based compensation expense

 

$

33,078

 

 

$

57,510

 

 

$

56,944

 

 

$

117,365