Annual report pursuant to Section 13 and 15(d)

Common Stock (Tables)

v3.20.4
Common Stock (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Summary of Stock Option Activity

A summary of the stock option activity is presented below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Term (years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding as of January 1, 2019

 

 

971,353

 

 

$

1.01

 

 

 

9.8

 

 

$

4,051

 

Granted

 

 

1,340,839

 

 

 

7.97

 

 

 

 

 

 

 

 

 

Exercised

 

 

(5,667

)

 

 

1.01

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(176,893

)

 

 

4.22

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

 

2,129,632

 

 

 

5.12

 

 

 

9.2

 

 

$

18,844

 

Granted

 

 

813,172

 

 

 

13.03

 

 

 

 

 

 

 

 

 

Exercised

 

 

(25,611

)

 

 

5.44

 

 

 

 

 

 

 

183

 

Forfeited

 

 

(16,714

)

 

 

6.30

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

 

2,900,479

 

 

$

7.33

 

 

 

8.5

 

 

$

16,303

 

Options Exercisable at December 31, 2020

 

 

1,068,675

 

 

$

4.04

 

 

 

8.1

 

 

$

9,059

 

 
Schedule of Assumptions Used to Estimate Fair Value of Stock Options

The fair value of each award is estimated using Black-Scholes based on the following assumptions:

 

 

 

For the Year Ended December 31,

 

 

2020

 

2019

Risk-free interest rate

 

0.28%—1.48%

 

1.39%—2.59%

Expected term

 

5.7—6.1 years

 

0.3—6.1 years

Expected volatility

 

70%—79%

 

70%—76%

Expected dividend yield

 

0%

 

0%

 
Summary of Stock-Based Compensation

The Company has recorded stock-based compensation in the accompanying statements of operations as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2020

 

 

2019

 

Research and development

 

$

1,989

 

 

$

1,304

 

General and administrative

 

 

2,399

 

 

 

996

 

Total

 

$

4,388

 

 

$

2,300