Stock-Based Compensation
9 Months Ended
Sep. 30, 2021
Stock-Based Compensation  
Stock-Based Compensation

8. Stock-Based Compensation

Service-Based Stock Options

During the nine months ended September 30, 2021, the Company granted options with service-based vesting conditions for the purchase of 3,942,080 shares of common stock with a weighted average exercise price of $16.01 per share and a weighted average grant-date fair value of $10.69 per share.

Stock-Based Compensation

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands):

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2021

    

2020

    

2021

    

2020

    

Research and development expenses

$

3,408

$

1,996

 

$

8,995

$

6,165

 

General and administrative expenses

 

4,781

 

5,989

 

17,433

 

18,560

 

$

8,189

$

7,985

$

26,428

$

24,725

As of September 30, 2021, total unrecognized compensation cost related to the unvested stock-based awards was $67.0 million, which is expected to be recognized over a weighted average period of 2.6 years.