0001193125-22-221297 | 10-Q | XBRL Viewer | Acumen Pharmaceuticals INC

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Aug. 11, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Entity Registrant Name	Acumen Pharmaceuticals, Inc.
Entity Central Index Key	0001576885
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40551
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4108129
Entity Address, Address Line One	427 Park St.
Entity Address, City or Town	Charlottesville
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22902
City Area Code	434
Local Phone Number	297-1000
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	ABOS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,503,124

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 111,067	$ 122,162
Marketable securities, short-term	78,844	72,075
Prepaid expenses and other current assets	1,142	4,424
Total current assets	191,053	198,661
Marketable securities, long-term	20,001	31,619
Property and equipment, net	113	36
Deferred offering costs	238
Right-of-use asset	167
Other assets	106	14
Total assets	211,678	230,330
Current liabilities
Accounts payable	1,710	1,088
Accrued expenses and other current liabilities	3,282	4,059
Operating lease liability, current portion	142
Total current liabilities	5,134	5,147
Operating lease liability, net of current portion	25
Total liabilities	5,159	5,147
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2022 and December 31, 2021
Common stock, $0.0001 par value; 300,000,000 shares authorized and [40,473,270] and 40,473,270 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	4	4
Additional paid-in capital	354,331	352,981
Accumulated deficit	(146,851)	(127,571)
Accumulated other comprehensive loss	(965)	(231)
Total stockholders' equity	206,519	225,183
Total liabilities and stockholders' equity	$ 211,678	$ 230,330

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par or stated value per share	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock Par Value	$ 0.0001	$ 0.0001
Common Shares Authorized	300,000,000	300,000,000
Common Shares Issued	40,501,258	40,473,270
Common Shares Outstanding	40,501,258	40,473,270

Condensed Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses
Research and development	$ 7,321	$ 2,254	$ 13,306	$ 4,832
General and administrative	3,090	1,187	6,312	2,402
Total operating expenses	10,411	3,441	19,618	7,234
Loss from operations	(10,411)	(3,441)	(19,618)	(7,234)
Other income (expense)
Interest income, net	260	4	337	8
Change in fair value of preferred stock tranche rights liability and preferred stock warrant liability		(57,940)		(81,157)
Other income, net	0	19	1	28
Total other income (expense)	260	(57,917)	338	(81,121)
Net loss	(10,151)	(61,358)	(19,280)	(88,355)
Other comprehensive loss
Unrealized loss on marketable securities	(151)		(734)
Comprehensive loss	$ (10,302)	$ (61,358)	$ (20,014)	$ (88,355)
Net loss per common share, basic	$ (0.25)	$ (141.93)	$ (0.48)	$ (207.52)
Net loss per common share, diluted	$ (0.25)	$ (141.93)	$ (0.48)	$ (207.52)
Weighted-average shares outstanding, basic	40,497,087	432,325	40,485,244	425,761
Weighted-average shares outstanding, diluted	40,497,087	432,325	40,485,244	425,761

Condensed Statements of Changes in Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Series A Convertible Preferred Stock [Member]	Series A-1 Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss
Opening balance at Dec. 31, 2020		$ 1,067	$ 16,333	$ 39,253
Opening balance at Dec. 31, 2020	$ (18,591)				$ 0	$ 8,374	$ (26,965)
Opening balance (Shares) at Dec. 31, 2020		477,297	7,537,879	11,862,043	419,124
Stock-based compensation	253					253	0
Issuance of milestone shares for cash, net of issuance costs				$ 30,031
Issuance of milestone shares for cash, net of issuance costs (Shares)				7,908,027
Exercise of preferred stock warrant			$ 1,250
Exercise of preferred stock warrant (shares)			447,426
Reclassification of preferred stock tranche rights liability upon issuance of milestone shares				$ 81,190
Reclassification of warrant liability upon exercise of preferred stock warrant	5,380		$ 5,380
Exercise of common stock warrants	614					614
Exercise of common stock warrants (Shares)					137,446
Net loss	(88,355)						(88,355)
Closing balance at Jun. 30, 2021		$ 1,067	$ 22,963	$ 150,474
Closing balance at Jun. 30, 2021	(106,079)				$ 0	9,241	(115,320)
Closing balance (Shares) at Jun. 30, 2021		477,297	7,985,305	19,770,070	556,570
Opening balance at Mar. 31, 2021		$ 1,067	$ 16,333	$ 39,253
Opening balance at Mar. 31, 2021	(45,462)				$ 0	8,500	(53,962)
Opening balance (Shares) at Mar. 31, 2021		477,297	7,537,879	11,862,043	419,124
Stock-based compensation	127					127	0
Issuance of milestone shares for cash, net of issuance costs				$ 30,031
Issuance of milestone shares for cash, net of issuance costs (Shares)				7,908,027
Exercise of preferred stock warrant			$ 1,250
Exercise of preferred stock warrant (shares)			447,426
Reclassification of preferred stock tranche rights liability upon issuance of milestone shares				$ 81,190
Reclassification of warrant liability upon exercise of preferred stock warrant			$ 5,380
Exercise of common stock warrants	614					614
Exercise of common stock warrants (Shares)					137,446
Net loss	(61,358)						(61,358)
Closing balance at Jun. 30, 2021		$ 1,067	$ 22,963	$ 150,474
Closing balance at Jun. 30, 2021	(106,079)				$ 0	9,241	(115,320)
Closing balance (Shares) at Jun. 30, 2021		477,297	7,985,305	19,770,070	556,570
Opening balance at Dec. 31, 2021	225,183				$ 4	352,981	(127,571)	$ (231)
Opening balance (Shares) at Dec. 31, 2021					40,473,270
Unrealized loss on marketable securities	(734)							(734)
Stock options exercised for cash	$ 17					17
Stock options exercised for cash, Shares	29,982				23,242
Cashless stock options exercise (shares)					4,746
Stock-based compensation	$ 1,333				$ 0	1,333
Net loss	(19,280)						(19,280)
Closing balance at Jun. 30, 2022	206,519				$ 4	354,331	(146,851)	(965)
Closing balance (Shares) at Jun. 30, 2022					40,501,258
Opening balance at Mar. 31, 2022	216,089				$ 4	353,599	(136,700)	(814)
Opening balance (Shares) at Mar. 31, 2022					40,473,270
Unrealized loss on marketable securities	(151)							(151)
Stock options exercised for cash	17					17
Stock options exercised for cash, Shares					23,242
Cashless stock options exercise (shares)					4,746
Stock-based compensation	715				$ 0	715
Net loss	(10,151)						(10,151)
Closing balance at Jun. 30, 2022	$ 206,519				$ 4	$ 354,331	$ (146,851)	$ (965)
Closing balance (Shares) at Jun. 30, 2022					40,501,258

Condensed Statements of Changes in Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Series B Convertible Preferred Stock [Member]
Stock issuance Costs	$ 16	$ 16

Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (19,280)	$ (88,355)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	10
Change in fair value of preferred stock tranche rights liability and preferred stock warrant liability		81,157
Stock-based compensation expense	1,333	253
Amortization of premiums and accretion of discounts on marketable securities, net	384
Amortization of right-of-use asset	66
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	3,282	(1,108)
Other assets	(92)	(13)
Accounts payable	580	741
Operating lease liability	(66)
Accrued expenses and other current liabilities	(984)	691
Net cash used in operating activities	(14,767)	(6,634)
Cash flows from investing activities
Purchases of marketable securities	(12,129)
Proceeds from maturities and sales of marketable securities	15,860
Purchases of property and equipment	(45)	(6)
Net cash provided by (used in) investing activities	3,686	(6)
Cash flows from financing activities
Proceeds from issuance of Series B milestone shares, net of issuance costs		30,031
Payments for deferred offering costs	(31)	(220)
Proceeds from the exercise of stock options	17
Net cash provided by (used in) financing activities	(14)	31,675
Net change in cash and cash equivalents	(11,095)	25,035
Cash and cash equivalents at the beginning of the period	122,162	43,777
Cash and cash equivalents at the end of the period	111,067	68,812
Supplemental disclosure of cash flow information
Cash paid for income taxes	0	0
Cash paid for interest	0	0
Supplemental disclosure of noncash investing and financing activities
Right-of-use assets obtained in exchange for operating lease liabilities	233
Deferred offering costs in accrued expenses and other current liabilities	207	497
Purchases of property and equipment in accounts payable	42	0
Reclassification of preferred stock tranche rights liability upon share issuance	0	81,190
Reclassification of warrant liability upon exercise of preferred stock warrant		5,380
Deferred offering costs in accounts payable	$ 0	1,635
Series A -1 Convertible Preferred Stock Warrant Liability [Member]
Cash flows from financing activities
Proceeds from exercise of warrants		1,250
Common Stock Warrants [Member]
Cash flows from financing activities
Proceeds from exercise of warrants		$ 614

Description of Organization and Business Operations	6 Months Ended
Description of Organization and Business Operations	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Organization and Business Operations	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Acumen Pharmaceuticals, Inc. (“Acumen” or the “Company”) was incorporated in 1996 in the state of Delaware. Acumen is a clinical-stage biopharmaceutical company developing a novel disease-modifying approach to target what the Company believes to be a key underlying cause of Alzheimer’s disease (“AD”). Acumen’s sole drug candidate, ACU193, is a humanized monoclonal antibody which selectively targets amyloid-beta oligomers. The Company is subject to the uncertainty of whether the Company’s intellectual property will develop into successful commercial products. June 2021 Reverse Stock Split The Company’s Board of Directors (“Board”) approved a reverse split of shares of the Company’s common stock and convertible preferred stock on a 1-for-1.49 basis (the “June 2021 Reverse Stock Split”), which was effected on June 23, 2021. The par value and the number of authorized shares of the convertible preferred stock and common stock were not adjusted in connection with the June 2021 Reverse Stock Split. All references to common stock, convertible preferred stock, warrants to purchase common stock, warrants to purchase convertible preferred stock, options to purchase common stock, share data, per share data and related information contained in the financial statements have been retrospectively adjusted to reflect the effect of the June 2021 Reverse Stock Split for all periods presented. No fractional shares of the Company’s common stock were issued in connection with the June 2021 Reverse Stock Split. Any fractional share resulting from the June 2021 Reverse Stock Split was rounded down to the nearest whole share, and any stockholder entitled to a fractional share as a result of the June 2021 Reverse Stock Split received a cash payment in lieu of receiving fractional shares. Initial Public Offering On July 6, 2021, the Company issued 9,999,999 shares of common stock in an initial public offering (“IPO”), and on July 8, 2021, the Company issued an additional 1,499,999 shares of common stock that were purchased by the underwriters pursuant to the underwriters’ option to purchase additional shares at the public offering price less underwriting discounts and commissions. The price to the public for each share was $16.00. The aggregate net proceeds from the Company’s IPO, after underwriting discounts and commissions and other offering expenses of $15.4 million, were $168.6 million. On July 6, 2021, in connection with the closing of the IPO, 477,297 shares of Series A, 7,985,305 shares of Series A-1, and 19,770,070 shares of Series B convertible preferred stock, respectively, automatically converted into an equal number of shares of common stock. Warrants to purchase shares of common stock were automatically net exercised for the purchase of an aggregate of 178,847 shares of common stock. As a result of the IPO, the underwriters’ exercise of their option, the conversions of the Series A, A-1 and B convertible preferred stock, and the exercise of the warrants, the Company’s total number of outstanding common shares increased by 39,911,517 immediately following the closing of the IPO. Liquidity and Capital Resources The Company has incurred operating losses since inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. As of June 30, 2022 and December 31, 2021, the Company had an accumulated deficit of $146.9 million and $127.6 million, respectively, and working capital of $185.9 million and $193.5 million, respectively. Management believes the Company has sufficient cash to continue operating activities for beyond 12 months from issuance of these condensed financial statements. Future capital requirements will depend upon many factors, including the timing and extent of spending on research and development and market acceptance of the Company’s products. The Company may need to obtain additional financing to complete clinical trials and launch and commercialize any product candidates for which it receives regulatory approval. Until such time, if ever, the Company can generate revenue sufficient to achieve profitability, the Company expects to finance its operations through a combination of equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. There can be no assurance that such financing will be available on terms acceptable to the Company, or at all. To the extent that the Company raises additional capital through the sale of equity or convertible debt securities, the ownership interest of its stockholders will be diluted, and the terms of these securities may include liquidation of other preferences that adversely affect the rights of common stockholders. Debt financing and preferred equity financing, if available, may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making acquisitions or capital expenditures or declaring dividends. If the Company is unable to maintain sufficient financial resources, its business, financial condition and results of operations will be materially and adversely affected. The Company may be required to delay, limit, reduce or terminate its product discovery and development activities or future commercialization efforts. The Company initiated a Phase 1 clinical trial of ACU193 in 2021, which the Company named “INTERCEPT-AD.” In October 2021, the Company announced the initial dosing of the first patient in the INTERCEPT-AD trial and the subsequent successful sentinel safety review of the first two patients. Due to delays in clinical trial site activation and patient enrollment that the Company believes were principally related to effects of the coronavirus (“COVID-19”) pandemic, the Company has expanded the anticipated number of trial sites to support its enrollment objectives and anticipated timelines. As of August 15, 2022, 15 clinical trial sites have been activated and patient recruitment and enrollment is ongoing. The ultimate impact of the COVID-19 pandemic on the Company’s business, results of operations, financial position and cash flows will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions. These developments and the impact of the COVID-19 pandemic, and the ongoing military conflict between Russia and Ukraine and related sanctions against Russia, on the financial markets and the overall economy are highly uncertain and cannot be predicted. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s results of operations, financial position and cash flows may be materially adversely affected.

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	NOTE 2. BASIS OF PRESENTATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited condensed financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. A description of the Company’s significant accounting policies is included in the Company’s Annual Report. Other than as described below, there have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, as well as the reported amounts of expenses during the reporting periods. These estimates and assumptions are based on the Company’s historical experience, and on various other factors that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. Leases The Company accounts for its leases under Accounting Standards Codification (“ASC”) 842, Leases . Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the condensed balance sheet as both a right-of-use asset and a lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and right-of-use assets are amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset results in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred and not included in the measurement of right-of-use assets and lease liabilities. ASC 842 provides practical expedients for an entity’s ongoing accounting. In calculating right-of-use assets and lease liabilities, the Company has elected to combine lease and non-lease components. Additionally, the Company has elected to apply the practical expedient related to short-term leases (i.e., leases having initial terms of 12 months or less at commencement date) as an accounting policy election. For short-term leases, the Company will not recognize a right-of-use asset or lease liability, but instead will recognize lease payments as an expense on a straight-line basis over the lease term. Recently Adopted Accounting Pronouncements ASC 842 requires lessees to recognize the liabilities related to all leases, including operating leases, with a term greater than 12 months on the balance sheet and also requires lessees and lessors to disclose key information about their leasing transactions. The Company adopted this guidance on January 1, 2022, using the modified retrospective method and the Company elected the package of practical expedients upon transition, which retained the lease classification for leases that existed prior to the adoption of this guidance. The Company recorded both a right-of-use asset and a lease liability of approximately $0.2 million on its condensed balance sheet upon the adoption of ASC 842. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted this guidance on January 1, 2022 with no material impact to the Company’s financial statements upon adoption. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which was codified with its subsequent amendments as ASC 326. ASC 326 seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, including trade receivables, and other commitments to extend credit held by a reporting entity at each reporting date. The amendments require an entity to replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects current expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The updated guidance is effective for the Company for annual reporting periods beginning after December 15, 2022, and early adoption is permitted. The Company’s marketable securities portfolio currently consists entirely of available-for-sale debt securities and, as such, it does not expect this guidance to have a material impact on its financial statements and disclosures upon adoption.

Marketable Securities

6 Months Ended

Jun. 30, 2022

Marketable Securities [Abstract]

Marketable Securities

NOTE 3. MARKETABLE SECURITIES

Marketable securities consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):


	June 30, 2022
			Gross Unrealized		Gross Unrealized
	Amortized Cost		Gains		Losses			Fair Value
Available-for-sale securities, short-term
Commercial paper	$	43,984	$	—	$	—		$	43,984
Corporate debt securities		15,033		—		(206	)		14,827
Asset-backed securities		8,039		—		(31	)		8,008
U.S. treasury securities		12,088		—		(63	)		12,025

Total available-for-sale securities, short-term		79,144		—		(300	)		78,844
Available-for-sale securities, long-term
Corporate debt securities		5,662		—		(184	)		5,478
Asset-backed securities		3,010		—		(116	)		2,894
U.S. treasury securities		11,994		—		(365	)		11,629

Total available-for-sale securities, long-term		20,666		—		(665	)		20,001

Total available-for-sale securities	$	99,810	$	—	$	(965	)	$	98,845


	December 31, 2021
			Gross Unrealized		Gross Unrealized
	Amortized Cost		Gains		Losses			Fair Value
Available-for-sale securities, short-term
Commercial paper	$	47,939	$	—	$	—		$	47,939
Corporate debt securities		7,992		—		(11	)		7,981
Asset-backed securities		16,177		—		(22	)		16,155

Total available-for-sale securities, short-term		72,108		—		(33	)		72,075
Available-for-sale securities, long-term
Corporate debt securities		16,816		—		(103	)		16,713
Asset-backed securities		3,013		—		(25	)		2,988
U.S. treasury securities		11,988		—		(70	)		11,918

Total available-for-sale securities, long-term		31,817		—		(198	)		31,619

Total available-for-sale securities	$	103,925	$	—	$	(231	)	$	103,694

As of June 30

, 2022

, the Company’s available-for-sale securities classified as short-term mature in one year or less and the Company’s available-for-sale securities classified as long-term mature between 12 to 15 months. All of the Company’s available-for-sale marketable securities in an unrealized loss position as of June 30

, 2022

were in a loss position for less than twelve months. Unrealized losses on available-for-sale securities as of June 30

, 2022

were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. Accordingly, no other-than-temporary impairment was recorded for the three and six months ended June 30

, 2022

. The Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.

Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 4. FAIR VALUE MEASUREMENTS

The Company’s financial assets and liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows (in

thousands):


	Fair value measurements at reporting date using
	Quoted Prices in
	Active Markets for		Significant Other
	Identical Assets		Observable Inputs		Significant Unobservable		Fair Value at
	(Level 1)		(Level 2)		Inputs (Level 3)		June 30, 2022
Assets included in:
Cash and cash equivalents
Money market securities	$	110,067	$	—	$	—	$	110,067
Marketable securities
Commercial paper		—		43,984		—		43,984
Corporate debt securities		—		20,305		—		20,305
Asset-backed securities		—		10,902		—		10,902
U.S. treasury securities		—		23,654		—		23,654

Total fair value	$	110,067	$	98,845	$	—	$	208,912


	Fair value measurements at reporting date using
	Quoted Prices in
	Active Markets for		Significant Other
	Identical Assets		Observable Inputs		Significant Unobservable		Fair Value at
	(Level 1)		(Level 2)		Inputs (Level 3)		December 31, 2021
Assets included in:
Cash and cash equivalents
Money market securities	$	121,162	$	—	$	—	$	121,162
Marketable securities
Commercial paper		—		47,939		—		47,939
Corporate debt securities		—		24,694		—		24,694
Asset-backed securities		—		19,143		—		19,143
U.S. treasury securities		—		11,918		—		11,918

Total fair value	$	121,162	$	103,694	$	—	$	224,856

The carrying values reported in the Company’s condensed balance sheets for cash (excluding cash equivalents which are recorded at fair value on a recurring basis), accounts payable and accrued expenses are reasonable estimates of their fair values due to the short-term nature of these items.

The fair value of the Company’s money market funds is determined using quoted market prices in active markets for identical assets.

The fair value for the

available-for-sale

marketable securities is determined based on valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets or liabilities, yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Supplemental Financial Information

6 Months Ended

Jun. 30, 2022

Supplemental Financial Information [Abstract]

Supplemental Financial Information

NOTE 5. SUPPLEMENTAL FINANCIAL INFORMATION

Prepaid expenses and other current assets consisted of the following (in

thousands):


	June 30, 2022		December 31, 2021
Research and development service agreements	$	650	$	2,591
Prepaid raw materials		141		83
Dues and subscriptions		125		96
Prepaid insurance		21		1,514
Other		205		140

Total prepaid expenses and other current assets	$	1,142	$	4,424

Accrued expenses and other current liabilities consisted of the following (in thousands):


	June 30, 2022		December 31, 2021
Research and development	$	2,031	$	2,623
Bonuses and other employee liabilities		934		1,102
Legal		192		130
Professional fees		24		—
Other		101		204

Total accrued expenses and other current liabilities	$	3,282	$	4,059

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	NOTE 6. STOCKHOLDERS’ EQUITY Authorized Shares The total number of shares of all classes of capital stock authorized to be issued is 310,000,000, with 10,000,000 shares designated as preferred stock with a par value of $0.0001, and 300,000,000 shares designated as common stock with a par value of $0.0001. Common Stock As of June 30, 2022, the Company’s Amended and Restated Certificate of Incorporation authorized the issuance of 300,000,000 shares of common stock, $0.0001 par value per share. Each share of common stock is entitled to one voting right. Shelf Registration and At-The-Market Equity Offering On July 1, 2022, the Company filed a shelf registration statement on Form S-3 (the “Registration Statement”). Pursuant to the Registration Statement, the Company may offer and sell securities having an aggregate public offering price of up to $200.0 million. In connection with the filing of the Registration Statement, the Company also entered into a sales agreement with BofA Securities, Inc. and Stifel, Nicolaus & Company, Incorporated (the “Sales Agents”), as sales agents, pursuant to which the Company may issue and sell shares of its common stock for an aggregate offering price of up to $50.0 million under an at-the-market offering program (the “ATM”), which is included in the $200.0 million of securities that may be offered pursuant to the Registration Statement. Pursuant to the ATM, the Company will pay the Sales Agents a commission rate equal to 3.0% of the gross proceeds from the sale of any shares of common stock. The Company is not obligated to make any sales of shares of its common stock under the ATM. The Company has not sold any shares of its common stock under the ATM as of the issuance of these condensed financial statements.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

NOTE 7. STOCK-BASED COMPENSATION

2021 Equity Incentive Plan

The 2021 Equity Incentive Plan (the “2021 Plan”), which provides for the grant of incentive stock options to employees, and the grant of nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance awards and other forms of stock awards to employees, directors and consultants, became effective on June 30, 2021. The 2021 Plan is a successor to the Company’s Amended and Restated Stock Performance Plan that was adopted by the Board and stockholders on April 8, 2013 (as amended from time to time, most recently on November 20, 2020, the “2013 Plan”). Following the effectiveness of the 2021 Plan, no further grants may be made under the 2013 Plan; however, any outstanding equity awards granted under the 2013 Plan continue to be governed by the terms of the 2013 Plan.

Initially, the maximum number of shares of the Company’s common stock that may be issued under the 2021 Plan was 7,698,282 shares, which is the sum of (1) 3,550,000 new shares, plus (2) 667,104 shares that remained available for issuance under the Company’s 2013 Plan at the time the 2021 Plan became effective, plus (3) any shares subject to outstanding stock options or other stock awards that were granted under the 2013 Plan that, on or after the 2021 Plan became effective, terminate or expire prior to exercise or settlement, are settled in cash, are forfeited or repurchased because of the failure to vest, or are reacquired or withheld to satisfy a tax withholding obligation or the purchase or exercise price in accordance with the terms of the 2013 Plan. In addition, the number of shares of the Company’s common stock reserved for issuance under the 2021 Plan will automatically increase on January 1 of each calendar year, starting on January 1, 2022 through January 1, 2031, in an amount equal to 5% of the total number of shares of the Company’s common stock outstanding on December 31 of the fiscal year before the date of each automatic increase, or a lesser number of shares determined by the Board prior to the applicable January 1. On January 1, 2022, the Board increased the number of shares of common stock reserved for issuance under the 2021 Plan by 2,023,663 shares.

The maximum number of shares of the Company’s common stock that may be issued upon the exercise of incentive stock options under the 2021 Plan is 12,000,000. As of June 30, 2022, 9,721,945 shares were authorized for issuance under the 2021 Plan and 4,460,737 shares remained available for issuance under the 2021 Plan.

Stock Options

The Black-Scholes option-pricing model was used to estimate the fair value of stock options granted during the six months ended June 30, 2022 and 2021 with the following weighted average assumptions:


	Six Months Ended June 30,
	2022	2021

Risk-free interest rate	1.71 - 3.38%	0.40% - 0.50%
Expected term (in years)	5.8 - 6.1	5.3 - 6.3
Expected volatility	90%	90%
Expected dividend yield	0%	0%

The weighted average grant date fair value of options granted during the six months ended June 30, 2022 and 2021, was $3.58 per share and $1.34 per share, respectively.

Prior to its IPO, the fair value of the Company’s common stock underlying the stock options was historically determined by the Board with assistance from management and, occasionally with input from an independent third-party valuation firm. For the year ended December 31, 2020, management engaged an independent third-party valuation firm to provide an estimate of the fair value of its common stock, which was utilized as an input to the Company’s Black-Scholes option pricing model for stock options awarded during the three months ended March 31, 2021. The December 31, 2020 fair value of common stock was determined considering a number of objective and subjective factors, including valuations of comparable companies, sales of convertible preferred stock, operating and financial performance, the lack of liquidity of the Company’s common stock and the general and industry specific

economic outlook. The fair value of the Company’s common stock as of June 30, 2021 was estimated based upon the per share offering price of the Company’s common stock to the public in its IPO which closed on July 6, 2021. The June 30, 2021 fair value for the Company’s common stock was utilized as an input for options granted by the Company to its Board members on June 30, 2021, which was immediately prior to the IPO. As of June 30, 2021 and December 31, 2020, management estimated the fair value of a share of common stock

be $

16.00

and $

0.83

, respectively.

Stock options granted after December 31, 2017 vest monthly over a range of 12 to 36 months or vest monthly over a total of 48 months following a

one-year

cliff and all have a

ten-year

contractual term. Stock options granted prior to December 31, 2017 were either fully vested upon grant or generally vested monthly over a range of three to 24 months and have a

ten-year

term. The Company became publicly traded in July 2021 and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based on the historical volatility of a publicly traded set of peer companies. Due to the lack of historical exercise history, the expected term of the Company’s stock options has been determined using the “simplified” method for awards. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is zero based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future.

The following table reflects summarized stock option

activity:


						Weighted Average
						Remaining
				Weighted Average		Contractual Life (in		Aggregate Intrinsic
	Stock Options			Exercise Price		years)		Value (in thousands)
Outstanding at December 31, 2021		3,835,618		$	2.51
Granted		1,455,550		$	4.80
Exercised		(29,982	)	$	0.84
Forfeited		(33,149	)	$	2.11

Outstanding at June 30, 2022		5,228,037		$	3.16		8.5	$	12,500

Vested and exercisable at June 30, 2022		1,910,996		$	1.67		7.4	$	6,561

As of June 30, 2022, total unrecognized compensation costs related to unvested stock option awards granted was approximately $8.5 million, which the Company expects to recognize over a weighted-average period of approximately 3.0 years.

The Company recorded stock-based compensation expense related to stock options in the following expense categories of its condensed statements of operations for the periods shown (in

thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
General and administrative	$	510	$	79	$	962	$	159
Research and development		205		48		371		94

Total stock-based compensation	$	715	$	127	$	1,333	$	253

Employee Stock Purchase Plan

The 2021 Employee Stock Purchase Plan (the “ESPP”), which permits employees to purchase shares of the Company’s common stock, became effective on June 30, 2021. A total of 375,000 shares of the Company’s common stock were initially reserved for sale under the ESPP. The number of shares of the Company’s common stock reserved for issuance will automatically increase on January 1 of each calendar year, beginning on January 1, 2022 through January 1, 2031, by the lesser of (1) 1% of the total number of shares of the Company’s common stock outstanding on the last day of the fiscal year before the date of the automatic increase, and (2) 800,000 shares; provided that before the date of any such increase, the Board may determine that such increase will be less than the amount set forth in clauses (1) and (2). On January 1, 2022, the Board increased the number of shares of common stock reserved for issuance under the ESPP by 404,732 shares.

As of June 30, 2022, there are 779,732 shares authorized for issuance under the ESPP and there have been no purchases of shares under the ESPP.

Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

NOTE 8. LEASES

The Company has been subleasing space in Indiana since March 1, 2020. The Company executed a sublease for this space that was effective on February 1, 2021, and expires on August 30, 2023. The sublease does not provide the Company with any renewal options. The Company allows others to sublease a portion of the space from the Company for less than a

one-year

period.

The following table summarizes quantitative information about the Company’s operating leases for the period indicated (in

thousands):


	Three Months Ended			Six Months Ended
	June 30, 2022			June 30, 2022
Operating leases

Operating lease cost	$	38		$	76
Less: sublease income		(16	)		(32	)

Operating lease expense		22			44
Short-term lease rent expense		5			10

Total rent expense	$	27		$	54

Supplemental information related to the Indiana lease was as follows (dollar amounts in thousands):


	Six Months Ended
	June 30, 2022
Operating cash flows from operating leases	$	76
Right-of-use assets obtained in exchange for operating lease liabilities	$	233
Weighted-average remaining lease term – operating leases (in years)		1.2
Weighted-average discount rate – operating leases		10.0	%

As of June 30, 2022, the present value of maturities of the Company’s operating lease liabilities were as follows (in thousands):




Remaining period ended December 31, 2022	$	77
Year ended December 31, 2023		102

Total		179
Less: present value discount		(12	)

Operating lease liabilities	$	167

The Company recognizes sublease income in other income (expense) on its condensed statements of operations and comprehensive loss. The Company expects to recognize approximately $15,000 in sublease income for the remainder of 2022.

Prior to the adoption of ASC 842, and for the three and six months ended June 30, 2021, the Company recognized rent expense on a straight-line basis over the lease period and recorded deferred rent expense for rent expense incurred but not yet paid. During the three and six months ended June 30, 2021, the Company recognized total rent expense of approximately $40,000 and $67,000, respectively, and recognized sublease income of approximately $19,000 and $28,000, respectively.

Disclosures related to periods prior to adoption of ASC 842 included approximate future minimum rental payments due under the Company’s leases as of December 31, 2021 as follows (in thousands):



Year ended December 31, 2022	$	153
Year ended December 31, 2023		102

Total	$	255

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9. COMMITMENTS AND CONTINGENCIES The Company is not a party to any material legal proceedings and is not aware of any pending or threatened claims. From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities.

Net Loss Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

NOTE 10. NET LOSS PER SHARE

The Company computes loss per common share using the

two-class

method required for participating securities. Basic and diluted loss per share was the same for each period presented as the inclusion of all potential common stock outstanding would have been anti-dilutive.

The table below provides potentially dilutive securities not included in the calculation of the diluted net loss per common share because to do so would be anti-

dilutive:


	Six Months Ended June 30,
	2022		2021
Shares issuable upon exercise of stock options		5,228,037		3,664,601
Shares issuable upon conversion of Series A Preferred Stock		—		477,297
Shares issuable upon conversion of Series A-1 Preferred Stock		—		7,985,305
Shares issuable upon conversion of Series B Preferred Stock		—		19,770,070
Shares issuable upon exercise of common stock warrants		—		248,247

Total		5,228,037		32,145,520

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited condensed financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. A description of the Company’s significant accounting policies is included in the Company’s Annual Report. Other than as described below, there have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, as well as the reported amounts of expenses during the reporting periods. These estimates and assumptions are based on the Company’s historical experience, and on various other factors that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.
Leases	Leases The Company accounts for its leases under Accounting Standards Codification (“ASC”) 842, Leases . Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the condensed balance sheet as both a right-of-use asset and a lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and right-of-use assets are amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset results in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred and not included in the measurement of right-of-use assets and lease liabilities. ASC 842 provides practical expedients for an entity’s ongoing accounting. In calculating right-of-use assets and lease liabilities, the Company has elected to combine lease and non-lease components. Additionally, the Company has elected to apply the practical expedient related to short-term leases (i.e., leases having initial terms of 12 months or less at commencement date) as an accounting policy election. For short-term leases, the Company will not recognize a right-of-use asset or lease liability, but instead will recognize lease payments as an expense on a straight-line basis over the lease term.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements ASC 842 requires lessees to recognize the liabilities related to all leases, including operating leases, with a term greater than 12 months on the balance sheet and also requires lessees and lessors to disclose key information about their leasing transactions. The Company adopted this guidance on January 1, 2022, using the modified retrospective method and the Company elected the package of practical expedients upon transition, which retained the lease classification for leases that existed prior to the adoption of this guidance. The Company recorded both a right-of-use asset and a lease liability of approximately $0.2 million on its condensed balance sheet upon the adoption of ASC 842. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted this guidance on January 1, 2022 with no material impact to the Company’s financial statements upon adoption.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which was codified with its subsequent amendments as ASC 326. ASC 326 seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, including trade receivables, and other commitments to extend credit held by a reporting entity at each reporting date. The amendments require an entity to replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects current expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The updated guidance is effective for the Company for annual reporting periods beginning after December 15, 2022, and early adoption is permitted. The Company’s marketable securities portfolio currently consists entirely of available-for-sale debt securities and, as such, it does not expect this guidance to have a material impact on its financial statements and disclosures upon adoption.

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2022

Marketable Securities [Abstract]

Summary of Marketable securities

Marketable securities consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):


	June 30, 2022
			Gross Unrealized		Gross Unrealized
	Amortized Cost		Gains		Losses			Fair Value
Available-for-sale securities, short-term
Commercial paper	$	43,984	$	—	$	—		$	43,984
Corporate debt securities		15,033		—		(206	)		14,827
Asset-backed securities		8,039		—		(31	)		8,008
U.S. treasury securities		12,088		—		(63	)		12,025

Total available-for-sale securities, short-term		79,144		—		(300	)		78,844
Available-for-sale securities, long-term
Corporate debt securities		5,662		—		(184	)		5,478
Asset-backed securities		3,010		—		(116	)		2,894
U.S. treasury securities		11,994		—		(365	)		11,629

Total available-for-sale securities, long-term		20,666		—		(665	)		20,001

Total available-for-sale securities	$	99,810	$	—	$	(965	)	$	98,845


	December 31, 2021
			Gross Unrealized		Gross Unrealized
	Amortized Cost		Gains		Losses			Fair Value
Available-for-sale securities, short-term
Commercial paper	$	47,939	$	—	$	—		$	47,939
Corporate debt securities		7,992		—		(11	)		7,981
Asset-backed securities		16,177		—		(22	)		16,155

Total available-for-sale securities, short-term		72,108		—		(33	)		72,075
Available-for-sale securities, long-term
Corporate debt securities		16,816		—		(103	)		16,713
Asset-backed securities		3,013		—		(25	)		2,988
U.S. treasury securities		11,988		—		(70	)		11,918

Total available-for-sale securities, long-term		31,817		—		(198	)		31,619

Total available-for-sale securities	$	103,925	$	—	$	(231	)	$	103,694

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s financial assets and liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows (in

thousands):


	Fair value measurements at reporting date using
	Quoted Prices in
	Active Markets for		Significant Other
	Identical Assets		Observable Inputs		Significant Unobservable		Fair Value at
	(Level 1)		(Level 2)		Inputs (Level 3)		June 30, 2022
Assets included in:
Cash and cash equivalents
Money market securities	$	110,067	$	—	$	—	$	110,067
Marketable securities
Commercial paper		—		43,984		—		43,984
Corporate debt securities		—		20,305		—		20,305
Asset-backed securities		—		10,902		—		10,902
U.S. treasury securities		—		23,654		—		23,654

Total fair value	$	110,067	$	98,845	$	—	$	208,912


	Fair value measurements at reporting date using
	Quoted Prices in
	Active Markets for		Significant Other
	Identical Assets		Observable Inputs		Significant Unobservable		Fair Value at
	(Level 1)		(Level 2)		Inputs (Level 3)		December 31, 2021
Assets included in:
Cash and cash equivalents
Money market securities	$	121,162	$	—	$	—	$	121,162
Marketable securities
Commercial paper		—		47,939		—		47,939
Corporate debt securities		—		24,694		—		24,694
Asset-backed securities		—		19,143		—		19,143
U.S. treasury securities		—		11,918		—		11,918

Total fair value	$	121,162	$	103,694	$	—	$	224,856

Supplemental Financial Information (Tables)

6 Months Ended

Jun. 30, 2022

Supplemental Financial Information [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in

thousands):


	June 30, 2022		December 31, 2021
Research and development service agreements	$	650	$	2,591
Prepaid raw materials		141		83
Dues and subscriptions		125		96
Prepaid insurance		21		1,514
Other		205		140

Total prepaid expenses and other current assets	$	1,142	$	4,424

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	June 30, 2022		December 31, 2021
Research and development	$	2,031	$	2,623
Bonuses and other employee liabilities		934		1,102
Legal		192		130
Professional fees		24		—
Other		101		204

Total accrued expenses and other current liabilities	$	3,282	$	4,059

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Assumptions Used for Valuation of Fair Value of Stock Options

The Black-Scholes option-pricing model was used to estimate the fair value of stock options granted during the six months ended June 30, 2022 and 2021 with the following weighted average assumptions:


	Six Months Ended June 30,
	2022	2021

Risk-free interest rate	1.71 - 3.38%	0.40% - 0.50%
Expected term (in years)	5.8 - 6.1	5.3 - 6.3
Expected volatility	90%	90%
Expected dividend yield	0%	0%

Summary of Stock Option Activity

The following table reflects summarized stock option

activity:


						Weighted Average
						Remaining
				Weighted Average		Contractual Life (in		Aggregate Intrinsic
	Stock Options			Exercise Price		years)		Value (in thousands)
Outstanding at December 31, 2021		3,835,618		$	2.51
Granted		1,455,550		$	4.80
Exercised		(29,982	)	$	0.84
Forfeited		(33,149	)	$	2.11

Outstanding at June 30, 2022		5,228,037		$	3.16		8.5	$	12,500

Vested and exercisable at June 30, 2022		1,910,996		$	1.67		7.4	$	6,561

Summary of Share-Based Compensation Expense Related to Stock Options

The Company recorded stock-based compensation expense related to stock options in the following expense categories of its condensed statements of operations for the periods shown (in

thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
General and administrative	$	510	$	79	$	962	$	159
Research and development		205		48		371		94

Total stock-based compensation	$	715	$	127	$	1,333	$	253

Leases (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Summary of Lease, Cost

The following table summarizes quantitative information about the Company’s operating leases for the period indicated (in

thousands):


	Three Months Ended			Six Months Ended
	June 30, 2022			June 30, 2022
Operating leases

Operating lease cost	$	38		$	76
Less: sublease income		(16	)		(32	)

Operating lease expense		22			44
Short-term lease rent expense		5			10

Total rent expense	$	27		$	54

Schedule Of Supplemental Information Related To Lease

Supplemental information related to the Indiana lease was as follows (dollar amounts in thousands):


	Six Months Ended
	June 30, 2022
Operating cash flows from operating leases	$	76
Right-of-use assets obtained in exchange for operating lease liabilities	$	233
Weighted-average remaining lease term – operating leases (in years)		1.2
Weighted-average discount rate – operating leases		10.0	%

Summary of Lessee, Operating Lease, Liability, Maturity

As of June 30, 2022, the present value of maturities of the Company’s operating lease liabilities were as follows (in thousands):




Remaining period ended December 31, 2022	$	77
Year ended December 31, 2023		102

Total		179
Less: present value discount		(12	)

Operating lease liabilities	$	167

Schedule of Future Minimum Rental Payments for Operating Leases

Disclosures related to periods prior to adoption of ASC 842 included approximate future minimum rental payments due under the Company’s leases as of December 31, 2021 as follows (in thousands):



Year ended December 31, 2022	$	153
Year ended December 31, 2023		102

Total	$	255

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Summary of Dilutive Securities Not Included in the Diluted Net Loss Per Common Share

The table below provides potentially dilutive securities not included in the calculation of the diluted net loss per common share because to do so would be anti-

dilutive:


	Six Months Ended June 30,
	2022		2021
Shares issuable upon exercise of stock options		5,228,037		3,664,601
Shares issuable upon conversion of Series A Preferred Stock		—		477,297
Shares issuable upon conversion of Series A-1 Preferred Stock		—		7,985,305
Shares issuable upon conversion of Series B Preferred Stock		—		19,770,070
Shares issuable upon exercise of common stock warrants		—		248,247

Total		5,228,037		32,145,520

Description of Organization and Business Operations - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 08, 2021	Jul. 06, 2021	Jun. 23, 2021	Jun. 30, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stockholders' equity, reverse stock split			1-for-1.49
Conversion of stock, shares converted		477,297
Accumulated deficit				$ (146,851)	$ (127,571)
Working capital				$ 185,900	$ 193,500
Total number of outstanding shares increased		39,911,517
Common Stock Warrants [Member] \| Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of securities called by warrants or rights		178,847
Series A-1 Convertible Preferred Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Conversion of stock, shares converted		7,985,305
Series B Convertible Preferred Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Conversion of stock, shares converted		19,770,070
IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sale of stock, number of shares issued in transaction		9,999,999
Underwriting shares	1,499,999
Sale of stock, price per share		$ 16
Sale of stock, consideration received on transaction		$ 168,600
underwriting discounts and commissions and other offering expenses		$ 15,400

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022
Right-of-use asset	$ 167	$ 200
Lease liability	$ 167	$ 200

Marketable Securities - Additional Information (Details) - Marketable Debt Securities [Member] - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2022
Marketable Securities [Line Items]
Available-for-sale securities classified as short-term maturity	one year or less
Available-for-sale securities classified as long-term maturity	12 to 15 months
Other than temporary impairment losses, investments portion in other comprehensive loss net of tax available-for sale securities		$ 0	$ 0

Marketable Securities - Summary of Marketable securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Marketable Debt Securities Short Term [Member]
Marketable Securities [Line Items]
Amortized cost, Short term	$ 79,144	$ 72,108
Gross Unrealized Loss	(300)	(33)
Fair value, Short Term	78,844	72,075
Marketable Debt Securities Long Term [Member]
Marketable Securities [Line Items]
Gross Unrealized Loss	(665)	(198)
Amortized cost, Long term	20,666	31,817
Fair value, Long Term	20,001	31,619
Marketable Debt Securities [Member]
Marketable Securities [Line Items]
Gross Unrealized Loss	(965)	(231)
Amortized Cost, Total	99,810	103,925
Fair value, Total	98,845	103,694
Commercial Paper [Member] \| Marketable Debt Securities Short Term [Member]
Marketable Securities [Line Items]
Amortized cost, Short term	43,984	47,939
Fair value, Short Term	43,984	47,939
Corporate Debt Securities [Member] \| Marketable Debt Securities Short Term [Member]
Marketable Securities [Line Items]
Amortized cost, Short term	15,033	7,992
Gross Unrealized Loss	(206)	(11)
Fair value, Short Term	14,827	7,981
Corporate Debt Securities [Member] \| Marketable Debt Securities Long Term [Member]
Marketable Securities [Line Items]
Gross Unrealized Loss	(184)	(103)
Amortized cost, Long term	5,662	16,816
Fair value, Long Term	5,478	16,713
Asset-backed Securities [Member] \| Marketable Debt Securities Short Term [Member]
Marketable Securities [Line Items]
Amortized cost, Short term	8,039	16,177
Gross Unrealized Loss	(31)	(22)
Fair value, Short Term	8,008	16,155
Asset-backed Securities [Member] \| Marketable Debt Securities Long Term [Member]
Marketable Securities [Line Items]
Gross Unrealized Loss	(116)	(25)
Amortized cost, Long term	3,010	3,013
Fair value, Long Term	2,894	2,988
US Treasury Securities [Member] \| Marketable Debt Securities Short Term [Member]
Marketable Securities [Line Items]
Amortized cost, Short term	12,088
Gross Unrealized Loss	(63)
Fair value, Short Term	12,025
US Treasury Securities [Member] \| Marketable Debt Securities Long Term [Member]
Marketable Securities [Line Items]
Gross Unrealized Loss	(365)	(70)
Amortized cost, Long term	11,994	11,988
Fair value, Long Term	$ 11,629	$ 11,918

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Marketable securities
Total fair value	$ 208,912	$ 224,856
Fair Value, Inputs, Level 1 [Member]
Marketable securities
Total fair value	110,067	121,162
Fair Value, Inputs, Level 2 [Member]
Marketable securities
Total fair value	98,845	103,694
Fair Value, Inputs, Level 3 [Member]
Marketable securities
Total fair value	0	0
Money Market Securities [Member]
Cash and cash equivalents
Cash and Cash Equivalents, Fair Value Disclosure	110,067	121,162
Money Market Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents
Cash and Cash Equivalents, Fair Value Disclosure	110,067	121,162
Money Market Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Money Market Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Commercial Paper [Member]
Marketable securities
Investments, Fair Value Disclosure	43,984	47,939
Commercial Paper [Member] \| Fair Value, Inputs, Level 1 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
Commercial Paper [Member] \| Fair Value, Inputs, Level 2 [Member]
Marketable securities
Investments, Fair Value Disclosure	43,984	47,939
Commercial Paper [Member] \| Fair Value, Inputs, Level 3 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
Corporate Debt Securities [Member]
Marketable securities
Investments, Fair Value Disclosure	20,305	24,694
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Marketable securities
Investments, Fair Value Disclosure	20,305	24,694
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
Asset-backed Securities [Member]
Marketable securities
Investments, Fair Value Disclosure	10,902	19,143
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Marketable securities
Investments, Fair Value Disclosure	10,902	19,143
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
US Treasury Securities [Member]
Marketable securities
Investments, Fair Value Disclosure	23,654	11,918
US Treasury Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Marketable securities
Investments, Fair Value Disclosure	0
US Treasury Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Marketable securities
Investments, Fair Value Disclosure	23,654	$ 11,918
US Treasury Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Marketable securities
Investments, Fair Value Disclosure	$ 0

Supplemental Financial Information - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disclosure Of Prepaid Expenses And Other Current Assets [Line Items]
Research and development service agreements	$ 650	$ 2,591
Prepaid raw materials	141	83
Dues and subscriptions	125	96
Prepaid insurance	21	1,514
Other	205	140
Total prepaid expenses and other current assets	$ 1,142	$ 4,424

Supplemental Financial Information - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disclosure of Accrued Expenses and Other Current Liabilities [Line Items]
Research and development	$ 2,031	$ 2,623
Bonuses and other employee liabilities	934	1,102
Legal	192	130
Professional fees	24
Other	101	204
Total accrued expenses and other current liabilities	$ 3,282	$ 4,059

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jul. 01, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock shares authorized	300,000,000		300,000,000
Common stock par or stated value per share	$ 0.0001		$ 0.0001
Common stock shares voting rights	one
Preferred stock, shares authorized	10,000,000		10,000,000
Total shares authorized	310,000,000
Preferred stock, par or stated value per share	$ 0.0001		$ 0.0001
Proceeds from Sale and Maturity of Marketable Securities	$ 15,860
Aggregate public offering price to offer and sell securities as per registration statement		$ 200,000
Sales Agreement [Member] \| At the market offering program [Member] \| Sales Agent [Member]
Class of Stock [Line Items]
Proceeds from Sale and Maturity of Marketable Securities	$ 200,000
Commission rate equal to the percentage of gross proceeds from sale of shares of common stock		3.00%
Aggregate offering price to issue and sell shares of common stock		$ 50,000

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of a share of common stock		$ 16			$ 0.83
Share based compensation by share based payment arrangement vesting period	48 months
Share based compensation by share based payment arrangement contractual term	10 years
Share based compensation by share based payment arrangement unrecognized compensation costs non vested options	$ 8.5
Share based compensation by share based payment arrangement unrecognized compensation costs weighted aveage period of recognition	3 years
Weighted average grant date fair value of options granted	$ 3.58	$ 1.34
Common stock shares authorized	300,000,000			300,000,000
Stock Options Granted Before December 31, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement contractual term	10 years
2013 Amended And Restated Stock Performance Plan [Member] \| Stock Options Granted Before December 31, 2017 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period	3 months
2013 Amended And Restated Stock Performance Plan [Member] \| Stock Options Granted Before December 31, 2017 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period	24 months
2021 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant	4,460,737	7,698,282
Share based compensation arrangement by share based payment award Cumulative annual increase in common stock shares reserved for issuance, percentage		5.00%
Share based compensation arrangement by share based payment award number of shares authorized	9,721,945
2021 Equity Incentive Plan [Member] \| New Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant		3,550,000
2021 Equity Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum threshold common stock issuable on exercise of incentive stock options		12,000,000
Common stock, capital shares reserved for future issuance			2,023,663
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance			404,732
Share based compensation arrangement by share based payment award Cumulative annual increase in shares reserved for issuance, percentage		1.00%
Share based compensation arrangement by share based payment award shares of common stock outstanding maximum cumulative annual increase		800,000
Stock issued during period shares employee stock purchase plans	0
Common stock shares authorized	779,732
Employee Stock Purchase Plan [Member] \| Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance		375,000
Two Thousand And Thirteen Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant		667,104
2013 and 2021 Equity Incentive Plan [Member] \| Stock Options Granted After December 31, 2017 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period	12 months
2013 and 2021 Equity Incentive Plan [Member] \| Stock Options Granted After December 31, 2017 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period	36 months

Stock-Based Compensation - Summary of Assumptions Used for Valuation of Fair Value of Stock (Detail) - Black-Scholes Option-Pricing Model [Member]	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected volatility	90.00%	90.00%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Risk-free interest rate, minimum	1.71%	0.40%
Expected term in years	5 years 9 months 18 days	5 years 3 months 18 days
Maximum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Risk-free interest rate, maximum	3.38%	0.50%
Expected term in years	6 years 1 month 6 days	6 years 3 months 18 days

Stock-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Stock Options	3,835,618
Stock options granted, Stock Options	1,455,550
Stock options exercised, Stock Options	(29,982)
Stock options forfeited, Stock Options	(33,149)
Ending balance, Stock Options	5,228,037
Vested and exercisable, Stock Options	1,910,996
Beginning balance, Weighted Average Exercise Price	$ 2.51
Options granted, Weighted Average Exercise Price	4.8
Options Exercised, Weighted Average Exercise Price	0.84
Options Forfeited, Weighted Average Exercise Price	2.11
Ending balance, Weighted Average Exercise Price	3.16
Vested and exercisable, Weighted Average Exercise Price	$ 1.67
Weighted Average Remaining Contractual Life (in years)	8 years 6 months
Vested and exercisable, Weighted Average Remaining Contractual Life (in years)	7 years 4 months 24 days
Ending balance, Aggregate Intrinsic Value	$ 12,500
Vested and exercisable, Aggregate Intrinsic Value	$ 6,561

Stock-Based Compensation - Summary of Share-Based Compensation Expense Related to Stock Options (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 715	$ 127	$ 1,333	$ 253
General and Administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	510	79	962	159
Research and Development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 205	$ 48	$ 371	$ 94

Leases - Summary of Lease, Cost (Detail) - USD ($)	3 Months Ended		6 Months Ended
Leases - Summary of Lease, Cost (Detail) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating leases
Operating lease cost	$ 38,000		$ 76,000
Less: sublease income	(16,000)	$ (19,000)	(32,000)	$ (28,000)
Operating lease expense	22,000		44,000
Short-term lease rent expense	5,000		10,000
Total rent expense	$ 27,000	$ 40,000	$ 54,000	$ 67,000

Leases - Schedule Of Supplemental Information Related To Lease (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 76
Right-of-use assets obtained in exchange for operating lease liabilities	$ 233
Weighted-average remaining lease term – operating leases	1 year 2 months 12 days
Weighted-average discount rate – operating leases	10.00%

Leases - Summary of Lessee, Operating Lease, Liability, Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022
Leases [Abstract]
Remaining Period Ended December 31, 2022	$ 77
Year Ended December 31, 2023	102
Total	179
Less: present value discount	(12)
Operating lease liabilities	$ 167	$ 200

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Year ended December 31, 2022	$ 153
Year ended December 31, 2023	102
Total	$ 255

Lease - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
Lease - Additional Information (Detail) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Sublease income for the remainder of 2022	$ 15,000		$ 15,000
Sublease income	16,000	$ 19,000	32,000	$ 28,000
Rent expense	$ 27,000	$ 40,000	$ 54,000	$ 67,000

Net Loss Per Share - Summary of Dilutive Securities Not Included in the Diluted Net Loss Per Common Share (Detail) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, shares converted	5,228,037	32,145,520
Exercise of Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, shares converted	5,228,037	3,664,601
Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, shares converted	0	477,297
Series A1 Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, shares converted	0	7,985,305
Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, shares converted	0	19,770,070
Common stock warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, shares converted	0	248,247