Molecular Templates (MTEM) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 08, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Trading Symbol	MTEM
Entity Registrant Name	Molecular Templates, Inc.
Entity Central Index Key	0001183765
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-32979
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3409596
Entity Address, Address Line One	9301 Amberglen Blvd
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78729
City Area Code	512
Local Phone Number	869-1555
Entity Common Stock, Shares Outstanding		56,351,647
Title of 12(b) Security	Common Stock, $0.001 Par Value Per Share
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 38,782	$ 32,190
Marketable securities, current	2,889	28,859
Prepaid expenses	2,009	3,459
Grants revenue receivable	2,838	0
Other current assets	5,106	3,790
Total current assets	51,624	68,298
Operating lease right-of-use assets	10,652	11,132
Property and equipment, net	12,814	14,632
Other assets	3,415	3,486
Total assets	78,505	97,548
Current liabilities:
Accounts payable	2,718	504
Accrued liabilities	5,542	8,823
Deferred revenue, current	19,354	45,573
Other current liabilities	2,286	2,182
Total current liabilities	29,900	57,082
Deferred revenue, long-term	1,156	5,904
Long-term debt, net of current portion	36,402	36,168
Operating lease liabilities	11,635	12,231
Other liabilities	1,322	1,295
Total liabilities	80,415	112,680
Commitments and contingencies (Note 10)	0	0
Stockholders’ deficit
Preferred stock, $0.001 par value: Authorized: 2,000,000 shares at June 30, 2022 and December 31, 2021; issued and outstanding: 250 shares at June 30, 2022 and December 31, 2021	0	0
Authorized: 150,000,000 shares at March 31, 2023 and December 31, 2022; issued and outstanding: 56,351,647 shares at March 31, 2023 and December 31, 2022	56	56
Additional paid-in capital	431,956	429,646
Accumulated other comprehensive income/(loss)	1	(66)
Accumulated deficit	(433,923)	(444,768)
Total stockholders’ deficit	(1,910)	(15,132)
Total liabilities and stockholders’ deficit	$ 78,505	$ 97,548

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	250	250
Preferred stock, shares outstanding	250	250
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	56,351,647	56,351,647
Common stock, shares outstanding	56,351,647	56,351,647

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Total revenue	$ 36,629	$ 8,486
Operating expenses:
Research and development	19,042	21,497
General and administrative	5,802	7,620
Total operating expenses	24,844	29,117
Income/(loss) from operations	11,785	(20,631)
Interest and other income, net	455	70
Interest and other expense, net	(1,395)	(1,050)
Net income/(loss)	$ 10,845	$ (21,611)
Net income/(loss) per share attributable to common shareholders:
Basic	$ 0.19	$ (0.38)
Diluted	$ 0.19	$ (0.38)
Weighted average number of shares used in net income/(loss) per share calculations:
Basic	56,351,647	56,305,049
Diluted	56,351,647	56,305,049
Research And Development Revenue
Total revenue	$ 33,627	$ 8,486
Grant Revenue
Total revenue	$ 3,002	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net income/(loss)	$ 10,845	$ (21,611)
Other comprehensive income/(loss):
Unrealized gain/(loss) on available-for-sale securities	67	(251)
Comprehensive income/(loss)	$ 10,912	$ (21,862)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income/(Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2021	$ 65,662	$ 0	$ 56	$ 417,704	$ (48)	$ (352,050)
Stock-based compensation				3,682
Other comprehensive income/(loss)					(251)
Issuance of common stock pursuant to public offering			0
Net income/(loss)	(21,611)					(21,611)
Ending balance at Mar. 31, 2022	47,482	0	56	421,386	(299)	(373,661)
Beginning balance at Dec. 31, 2022	(15,132)	0	56	429,646	(66)	(444,768)
Stock-based compensation				2,310
Other comprehensive income/(loss)					67
Issuance of common stock pursuant to public offering			0
Net income/(loss)	10,845					10,845
Ending balance at Mar. 31, 2023	$ (1,910)	$ 0	$ 56	$ 431,956	$ 1	$ (433,923)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income/(loss)	$ 10,845	$ (21,611)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Depreciation, amortization and other	1,928	1,872
Stock-based compensation expense	2,310	3,682
Interest accrued on long-term debt	17	3
Amortization of debt discount and accretion related to debt	234	246
Accretion of asset retirement obligations	27	36
Loss on disposal of property and equipment	0	1
Changes in operating assets and liabilities:
Prepaid expenses	1,450	1,302
Grants revenue receivable	(2,838)	0
Other assets	(1,258)	(1,706)
Operating lease right-of-use assets and liabilities	(12)	(226)
Accounts payable	2,201	(1,612)
Accrued liabilities	(3,298)	(2,234)
Deferred revenue	(30,967)	(7,449)
Net cash used in operating activities	(19,361)	(27,696)
Cash flows from investing activities:
Purchases of property and equipment	(183)	(553)
Purchase of marketable securities	(2,364)	(12,732)
Sales of marketable securities	28,500	34,570
Net cash provided by investing activities	25,953	21,285
Net increase/(decrease) in cash, cash equivalents, and restricted cash	6,592	(6,411)
Cash, cash equivalents and restricted cash, beginning of period	34,679	28,651
Cash, cash equivalents and restricted cash, end of period	41,271	22,240
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	38,782	19,572
Restricted cash included in other assets	$ 2,489	$ 2,668
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Total cash, cash equivalents and restricted cash	$ 41,271	$ 22,240
Supplemental Cash Flow Information
Cash paid for interest	1,111	753
Non-Cash Investing Activities
Fixed asset additions in accounts payable and accrued expenses	$ 13	$ 621

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of the Business Molecular Templates, Inc. (the “Company”) is a clinical stage biopharmaceutical company formed in 2001, with a biologic therapeutic platform for the development of novel targeted therapeutics for cancer, headquartered in Austin, Texas. The Company’s focus is on the research and development of therapeutic compounds for a variety of cancers. The Company operates its business as a single segment, as defined by U.S. generally accepted accounting principles (“U.S. GAAP”). Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of the Company and its wholly owned subsidiary and reflect the elimination of intercompany accounts and transactions. The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect the recorded amounts reported therein. A change in facts or circumstances surrounding the estimates could result in a change to estimates and impact future operating results. Certain accounts in the prior financial statements have been reclassified for comparative purposes to conform to the presentation in the current financial statements. These reclassifications have no material effect on previously reported financials. The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the interim unaudited condensed consolidated financial statements have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023. Going Concern The Company has adopted as required the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (ASC) Topic 205-40, Presentation of Financial Statements - Going Concern, which requires that management contemplate the realization of assets and liquidation of liabilities in the normal course of business, and evaluate whether there are relevant conditions and events that in aggregate raise substantial doubt about the entity’s ability to continue as a going concern and to meet its obligations as they become due within one year after the date that the financial statements are issued. Under this standard, management’s assessment shall not take into consideration the potential mitigating effects of management’s plans that have not been fully implemented as of the date the financial statements are issued. There is substantial doubt about the Company’s ability to continue as a going concern as of the date of this Quarterly Report on Form 10-Q. This substantial doubt relates to the Company’s future compliance with the financial covenant in its Loan and Security Agreement with K2 HealthVentures LLC (the “K2 Loan and Security Agreement”), which requires the Company to certify monthly that it has cash, cash equivalents and marketable securities of at least five times the Company’s cash monthly burn as defined in the agreement (the “Financial Covenant”), as well as the Company’s ability to avoid triggering an event of default related to its solvency (an “Insolvency Event of Default”) under the K2 Loan and Security Agreement. Currently, based on anticipated cost-savings from the restructuring, discussed in Note 12 “Restructuring Related Expenses,” he Company anticipates continued compliance with the Financial Covenant and anticipates the ability to avoid triggering an event of default related to an Insolvency Event of Default late into the third quarter of 2023. However, t he Company will require additional funding in order to meet its covenant requirements and ongoing operations. If the Company cannot raise additional capital to maintain its compliance thereafter or negotiate an amendment to the Financial Covenant or the Insolvency Events of Default, then the Company will be in default of the K2 Loan and Security Agreement and the repayment of the Company’s indebtedness may be accelerated in full by K2 HealthVentures LLC. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and to provide sufficient certainty that it will continue as a going concern. At March 31, 2023, the Company had cash, cash equivalents, and marketable securities of $41.7 million, including borrowings of $35.0 million under the K2 Loan and Security Agreement whose scheduled maturity date for repayment is June 1, 2024, but a default of the Financial Covenant or an Insolvency Event of Default would potentially trigger accelerated repayment There can be no assurances that the Company will be able to raise sufficient capital to fund ongoing operations and maintain compliance with the Financial Covenant, and avoid triggering an event of default related to an Insolvency Event of Default beyond the third quarter of 2023 and/or be successful at negotiating an amendment to the K2 Loan and Security Agreement. If the Company is unable to obtain additional capital and continue as a going concern, it might have to liquidate its assets, and the values it receives for its assets in liquidation or dissolution could be significantly lower than the values reflected in its financial statements . These financial statements do not give effect to any adjustments which will be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2023, as compared to the significant accounting policies disclosed in Note 1, “Summary of Significant Accounting Policies”, to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Cash and Cash Equivalents The Company considers temporary investments having original maturities of three months or less from date of purchase to be cash equivalents. Restricted cash is recorded in other assets, based on when the restrictions expire. Other assets include $2.5 million of restricted cash at both March 31, 2023 and December 31, 2022, related to letters of credit in lieu of a cash deposit for the Company’s leases . Fair Value Measurement The Company accounts for its marketable securities in accordance with ASC 820 “Fair Value Measurements and Disclosures.” Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. For Level 2 securities that have market prices from multiples sources, a “consensus price” or a weighted average price for each of these securities can be derived from a distribution-curve-based algorithm which includes market prices obtained from a variety of industrial standard data providers (e.g. Bloomberg), security master files from large financial institutions, and other third-party sources. Level 2 securities with short maturities and infrequent secondary market trades are typically priced using mathematical calculations adjusted for observable inputs when available. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash and cash equivalents, investments, long term debt and accounts receivable. The Company’s cash and cash equivalents are with two major financial institutions in the United States. The Company performs an ongoing credit evaluation of its strategic partners’ financial conditions and generally does not require collateral to secure accounts receivable from its strategic partners. At March 31, 2023, the Company’s exposure to credit risk associated with non-payment will be affected principally by conditions or occurrences within Bristol Myers Squibb Company (“Bristol Myers Squibb”). In past years, Bristol Myers Squibb Drug or biologic candidates developed by the Company may require approvals or clearances from the U.S. Food and Drug Administration (“FDA”) or international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s drug or biologic candidates will receive any of the required approvals or clearances. If the Company were to be denied approval or clearance or any such approval or clearance were to be delayed, it would have a material adverse impact on the Company . Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (Subtopic 470-20: Debt with Conversion and Other Options and Subtopic 815-40: Derivatives and Hedging - Contracts in Entity’s Own Equity). The new guidance simplifies accounting for convertible instruments by removing major separation models, removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, and it also simplifies the diluted earnings per share calculation in certain areas. The amendment is effective for the Company for fiscal years beginning after December 15, 2023. The Company does not expect this to have a material impact since there are no material convertible instruments at this time.

Net Income_(Loss) Per Common Sh

Net Income/(Loss) Per Common Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income/(Loss) Per Common Share	NOTE 2 — NET INCOME/(LOSS) PER COMMON SHARE Basic net income/(loss) per common share is computed by dividing net income/(loss) by the weighted-average number of common shares outstanding during the period utilizing the two-class method. Preferred Stock Shareholders participate equally with Common Stock Shareholders in earnings, but do not participate in losses, and are excluded from the basic net income/(loss) calculation. Diluted net income/(loss) per share is computed by giving effect to all potential dilutive common shares, including outstanding options, warrants and convertible preferred stock. More specifically, at March 31, 2023 and March 31, 2022, stock options, warrants and, if converted, preferred stock totaling approximately 8,680,000 and 12,999,000 common shares, respectively, were excluded from the computation of diluted net income/(loss) per share as their effect would have been anti-dilutive.

Research and Development Agreem

Research and Development Agreements	3 Months Ended
	Mar. 31, 2023
Research And Development [Abstract]
Research and Development Agreements	NOTE 3 — RESEARCH AND DEVELOPMENT AGREEMENTS Disaggregated Research and Development Revenue Research and development revenue is attributable to regions based on the location of each of the Company’s collaboration partner's parent company headquarters. Research and development revenues disaggregated by location were as follows (in thousands): Three Months Ended March 31, 2023 2022 United States $ 33,627 $ 5,900 Japan — 2,586 Total research and development revenue $ 33,627 $ 8,486 Collaboration Agreements Bristol Myers Squibb Collaboration Agreement In February 2021, the Company, entered into a Collaboration Agreement (the “BMS Collaboration Agreement”), as amended, with Bristol Myers Squibb to perform strategic research collaboration leveraging the Company’s ETB technology platform to discover and develop novel products containing ETBs directed to multiple targets. Pursuant to the terms of the BMS Collaboration Agreement, the Company granted Bristol Myers Squibb a series of exclusive options to obtain one or more exclusive licenses under the Company’s intellectual property to exploit products containing ETBs directed against certain targets designated by Bristol Myers Squibb. Bristol Myers Squibb paid the Company an upfront payment of $70.0 million. In addition to the upfront payment, the Company may receive near term and development and regulatory milestone payments of up to $874.5 million. The Company will also be eligible to receive up to an additional $450.0 million in payments upon the achievement of certain sales milestones, and subject to certain reductions, tiered royalties ranging from mid-single digits up to mid-teens as percentages of calendar year net sales, if any, on any licensed product. The Company will be responsible for conducting the research activities through the designation, if any, of one or more development candidates. Upon the exercise of its option for a development candidate, Bristol Myers Squibb will be responsible for all development, manufacturing, regulatory and commercialization activities with respect to that development candidate. Unless earlier terminated, the BMS Collaboration Agreement will expire (i) on a country-by-country basis and licensed product-by-licensed product basis, on the date of expiration of the royalty payment obligations under the BMS Collaboration Agreement with respect to such licensed product in such country and (ii) in its entirety upon the earlier of (a) the expiration of the royalty payment obligations under the BMS Collaboration Agreement with respect to all licensed products in all countries or (b) upon Bristol Myers Squibb’s decision not to exercise any option on or prior to the applicable option deadlines. Bristol Myers Squibb has the right to terminate the BMS Collaboration Agreement for convenience upon prior written notice to the Company. Either party has the right to terminate the BMS Collaboration Agreement (a) for the insolvency of the other party or (b) subject to specified cure periods, in the event of the other party’s uncured material breach. The Company has the right upon prior written notice to terminate the BMS Collaboration Agreement in the event that Bristol Myers Squibb or any of its affiliates asserts a challenge against the Company’s patents. The Company identified multiple performance obligations at the inception of the BMS Collaboration Agreement consisting of research and development services and material rights related to additional developmental targets. The transaction price of $70.0 million was allocated to the performance obligations based upon their relative stand-alone selling price and will be recognized over time as the underlying research and development services are performed. The Company recognizes revenue for research and development services under the BMS Collaboration Agreement using a cost-based input measure. In applying the cost-based input method of revenue recognition, the Company will use actual costs incurred relative to budgeted costs expected to be incurred. These costs consist primarily of internal employee efforts and third-party contract costs. Revenue is recognized based on actual costs incurred as a percentage of total budgeted costs as the Company completes its performance obligation over the estimated service period. For the three months ended March 31, 2023 and March 31, 2022, the Company recognized $33.6 million and $5.9 million, respectively, of research and development revenue related to BMS Collaboration Agreement, which was primarily related to the completion of the research program for one of the collaboration’s targets and the completion of the related performance obligation by the Company under the BMS Collaboration Agreement, resulting in recognition of $25.8 million of research and development revenue. The Company had $19.4 million and $45.3 million of deferred revenue, current, at March 31, 2023 and December 31, 2022, respectively, related to the BMS Collaboration Agreement. The Company had $1.2 million and $5.9 million of deferred revenue, non-current at March 31, 2023 and December 31, 2022, respectively, related to the BMS Collaboration Agreement Takeda Multi-Target Agreement In June 2017, the Company entered into a Multi-Target Collaboration and License Agreement with Millennium Pharmaceuticals, Inc., a wholly owned subsidiary of Takeda (the “Takeda Multi-Target Agreement”), in which the Company agreed to collaborate with Takeda to identify and generate ETBs, against two targets designated by Takeda. I n March 2022, following the Company’s request to bring the agreement to an end, the Company and Takeda mutually agreed to terminate the Takeda Multi-Target Agreement. As a result of the termination, the Company regained full rights to pursue the targets worked on under the Takeda Multi-Target Agreement. There are no ongoing activities or economic obligations in connection with the Takeda Multi-Target Agreement. For the three months ended March 31, 2023, the Company did not recognize research and development revenue related to the Takeda Multi-Target Agreement. For the three months ended March 31, 2022, the Company recognized $2.6 million as research and development revenue. As of March 31, 2023 and December 31, 2022, there was no deferred revenue related to the Takeda Multi-Target Agreement Grant Agreements I n September 2018, the Company entered into a Cancer Research Agreement (the “CD38 CPRIT Agreement”) with the Cancer Prevention and Research Institute of Texas (“ was extended in September 2022, under which CPRIT awarded a to fund research of a cancer therapy involving a CD38 targeting ETB As of March 31, 2023, the Company has cumulatively recognized $12.4 million of grant revenue related to the CD38 CPRIT Agreement. Pursuant to the CD38 CPRIT Agreement, the Company may also use such funds to develop a replacement CD38 targeting ETB, with or without a partner. For the three months ended March 31, 2023 and March 31, 2022, the Company recognized grant revenue under this award of $3.0 million and zero, respectively. Qualified expenditures submitted for reimbursement in excess of amounts received are recorded as receivables in grant revenue receivable. As of March 31, 2023 , the Company recorded grant revenue receivable of $2.8

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 4 — RELATED PARTY TRANSACTIONS Takeda In connection with the Takeda Multi-Target Agreement described in Note 3 “Research and Development Collaboration Agreements,” Takeda became a related party, following the Takeda Stock Purchase Agreement described in Note 11 “Stockholders’ Equity,” of the Company’s previously filed Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 30, 2023. In August 2021, Takeda ceased to be a related party after a sale of the above-mentioned shares.

Marketable Securities and Fair

Marketable Securities and Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Marketable Securities and Fair Value Measurements	NOTE 5 —MARKETABLE SECURITIES AND FAIR VALUE MEASUREMENTS The following table sets forth the Company’s financial assets (cash equivalents and marketable securities) at fair value on a recurring basis (in thousands): Basis of Fair Value Measurements March 31, 2023 Level 1 Level 2 Level 3 Money market funds $ 30,940 $ 30,940 $ — $ — Commercial paper 6,625 — 6,625 — United States Treasury Bills 1,500 — 1,500 — Corporate Bonds 999 — 999 — Total $ 40,064 $ 30,940 $ 9,124 $ — Amounts included in: Cash and cash equivalents $ 37,175 Marketable securities, current 2,889 Total cash equivalents and marketable securities $ 40,064 Basis of Fair Value Measurements December 31, 2022 Level 1 Level 2 Level 3 Money market funds $ 24,546 $ 24,546 $ — $ — Commercial paper 21,134 — 21,134 — United States Treasury Bills 10,702 — 10,702 — Cash 2,500 2,500 — — Total $ 58,882 $ 27,046 $ 31,836 $ — Amounts included in: Cash and cash equivalents $ 30,023 Marketable securities, current 28,859 Total cash equivalents and marketable securities $ 58,882 The Company invests in highly-liquid, investment-grade securities. The following is a summary of the Company’s available-for-sale securities (in thousands): March 31, 2023 Cost Basis Unrealized Gain Unrealized Loss Fair Value Cash equivalents - money market funds, commercial paper and corporate bonds $ 37,175 $ 1 $ (1 ) $ 37,175 Marketable securities, current - commercial paper $ 2,889 $ — $ — $ 2,889 December 31, 2022 Cost Basis Unrealized Gain Unrealized Loss Fair Value Cash equivalents - money market funds, commercial paper and corporate bonds $ 30,022 $ 1 $ — $ 30,023 Marketable securities, current - commercial paper, Treasury bills $ 28,926 $ — $ (67 ) $ 28,859 At both March 31, 2023 and December 31, 2022, all the Company’s available-for-sale investments were due in one year or less. The Company received no proceeds from the sale of available-for-sale securities for the three months ended March 31, 2023 and March 31, 2022, respectively, and no

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Balance Sheet Components	NOTE 6 — BALANCE SHEET COMPONENTS Accrued liabilities consisted of the following (in thousands): March 31, 2023 December 31, 2022 Accrued liabilities: General and administrative $ 1,066 $ 855 Clinical trial related costs 2,023 1,327 Non-clinical research and manufacturing operations 1,182 1,779 Payroll related 1,243 4,828 Other accrued expenses 28 34 Total Accrued liabilities $ 5,542 $ 8,823

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2023
Property Plant And Equipment [Abstract]
Property and Equipment	NOTE 7—PROPERTY AND EQUIPMENT Property and equipment consists of the following (in thousands): March 31, December 31, 2023 2022 Laboratory equipment $ 22,023 $ 21,831 Leasehold improvements 12,974 12,971 Furniture and fixtures 518 518 Computer and equipment 658 658 36,173 35,978 Less: Accumulated depreciation (23,359 ) (21,346 ) Total property and equipment, net $ 12,814 $ 14,632 Depreciation expense was $2.0 million and $1.8 million for the three months ended March 31, 2023 and March 31, 2022, respectively. In connection with the continued expansion of the Company’s facilities, at both March 31, 2023 and December 31, 2022, the Company had net Asset Retirement Obligation (

Borrowing Arrangements

Borrowing Arrangements	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Borrowing Arrangements	NOTE 8 — BORROWING ARRANGEMENTS K2 HealthVentures Loan and Security Agreement In May 2020, the Company entered into the K2 Loan and Security Agreement in the amount of $45.0 million. The K2 Loan and Security Agreement was drawable in three tranches and to date the Company has drawn down $35.0 million with the remaining tranche of $10.0 million having lapsed as of December 31, 2021. Pursuant to the terms of the K2 Loan and Security Agreement, the principal accrues interest at an annual rate equal to the greater of 8.45% or the sum of the Prime Rate plus 5.2%. In April 2022, the K2 Loan and Security Agreement was amended in exchange for a $0.3 million amendment fee so that (i) payments will be interest only until the loan’s maturity date of June 1, 2024 , and (ii) the Financial Covenant will apply for the entire term of the K2 Loan and Security Agreement. This amendment resulted in a debt modification with the $0.3 million amendment fee recorded as a debt discount. The K2 Loan and Security Agreement includes both financial and non-financial covenants . The Company recorded the debt net of $2.8 million comprised of deferred financing costs, debt discount and associated exit fee which are being accreted to interest expense over the term of the K2 Loan and Security Agreement using the effective interest method. Additionally, the Company incurred $0.2 million in facilities fee related to the second tranche which was previously classified as a prepaid asset. As of both March 31, 2023 and December 31, 2022, the K2 Loan principal balance was $35.0 As of March 31, 2023 and December 31, 2022, the carrying value of long-term debt was $36.4 million and $36.2 million, respectively. Future required principal and final payments on the K2 Loan were as follows at March 31, 2023 ($ in thousands): 2023 $ — 2024 35,000 Total Principal Amounts 35,000 Final Fee Due at Maturity 2,398 Unamortized discount, deferred costs and final fee (996 ) Total Long-Term Debt, net $ 36,402

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	NOTE 9 – LEASES The Company has operating leases for administrative offices and research and development facilities, and certain finance leases for equipment. The operating leases have remaining terms of less than three years to less than seven years In July 2022, the Company exercised its option to extend the term for its lease of its principal executive office at 9301 Amberglen Blvd, Building J, Austin TX 78729 (the “Property”) for an additional five-year In October 2022, the Company entered into that certain Fourth Amendment to Lease between the Company and NW Austin Office Partners LLC (the “Lease Amendment”) which amended the Lease Agreement to document the exercise of the Company’s option to extend the term of its lease of the Property for an additional six-year six-year The following table summarizes the components of lease expense for the three months ended March 31, 2023 and March 31, 2022 and (in thousands): Three Months Ended March 31, 2023 2022 Operating leases Operating lease expense $ 727 $ 601 Variable lease expense 104 119 Total operating lease expense $ 831 $ 720 The following table summarizes the balance sheet classification of leases at March 31, 2023 (in thousands): March 31, 2023 Operating leases Operating lease right-of-use assets $ 10,652 Operating lease liabilities, current 1 $ 2,286 Operating lease liabilities, non-current 11,635 Total operating lease liabilities $ 13,921 1. Included in other current liabilities. The following table presents other information on leases as of March 31, 2023 and December 31, 2022: March 31, December 31, 2023 2022 Weighted average remaining lease term, operating leases 5.31 years 5.54 years Weighted average discount rate, operating leases 8.22% 8.21% Maturities of lease liabilities were as follows as of March 31, 2023 (in thousands): Operating Leases 2023 (remaining) $ 2,479 2024 3,369 2025 3,299 2026 2,564 2027 2,636 Thereafter 2,872 Total lease payments $ 17,219 Less: Imputed interest (3,298 ) Total lease liabilities $ 13,921 Supplemental cash flow information related to the Company’s leases were as follows (in thousands): Three Months Ended March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows operating leases $ 806

Contractual Commitments

Contractual Commitments	3 Months Ended
	Mar. 31, 2023
Commitments And Contingencies Disclosure [Abstract]
Contractual Commitments	NOTE 10 — CONTRACTUAL COMMITMENTS The Company has entered into project work orders for each of its clinical trials with clinical research organizations (each being a “CRO”) and related laboratory vendors. Under the terms of these agreements, the Company is required to pay certain upfront fees for direct services costs. Based on the particular agreement some of the fees may be for services yet to be rendered and are reflected as a current prepaid asset and have an unamortized balance of approximately zero at March 31, 2023. The Company has entered into agreements with CROs and other external service providers for services, primarily in connection with the clinical trials and development of the Company’s drug or biologic candidates. The Company was contractually obligated for up to approximately $34.6 million of future services under these agreements at March 31, 2023, for which amounts have not been accrued as services have not been performed. The Company’s actual contractual obligations will vary depending upon several factors, including the progress and results of the underlying services. The Company has entered into estimated purchase obligations, which include signed orders for capital equipment. These estimated purchase obligations total in range from $3.1 million to $3.3 million.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	NOTE 11 — STOCK-BASED COMPENSATION Stock-based compensation expense, which consists of the compensation cost for employee stock options and the value of options issued to non-employees for services rendered, was allocated to research and development and general and administrative in the consolidated statements of operations as follows (in thousands): Three Months Ended March 31, 2023 2022 Research and development $ 1,233 $ 1,962 General and administrative 1,077 1,720 Total stock-based compensation $ 2,310 $ 3,682 At March 31, 2023, the total unrecognized compensation cost related to unvested stock-based awards granted to employees under the Company’s equity incentive plans was approximately $13.5 million. This cost will be recorded as compensation expense on a ratable basis over the remaining weighted average requisite service period of approximately 2.60 years. Valuation Assumptions The Company estimated the fair value of stock options granted using the Black-Scholes option-pricing formula and a single option award approach. This fair value is being amortized ratably over the requisite service periods of the awards, which is generally the vesting period. The fair value of employee stock options was estimated using the following weighted-average assumptions: Three Months Ended March 31, 2023 2022 Employee Stock Options: Risk-free interest rate 3.94 % 2.02 % Expected term (in years) 6.08 6.08 Dividend yield — — Volatility 77.17 % 90.41 % Weighted-average fair value of stock options granted $ 0.34 $ 2.07 Equity Incentive Plans These plans consist of the 2018 Equity Incentive Plan, the 2014 Equity Incentive Plan, as amended; the 2004 Amended and Restated Equity Incentive Plan; and the Amended and Restated 2004 Employee Stock Purchase Plan. As of May 31, 2018, the 2014 Equity Incentive Plan; and the 2004 Amended and Restated Equity Incentive Plan were terminated, and no further shares will be granted from those plans. The following table summarizes stock option activity under the Company’s equity incentive plans: Outstanding Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in millions): Balances, December 31, 2021 7,854,473 $ 10.21 6.72 $ 0.95 Granted 2,920,189 $ 2.21 Exercised (46,598 ) $ 0.71 Cancelled (2,281,601 ) $ 9.44 Balances, December 31, 2022 8,446,463 $ 7.70 7.09 $ — Granted 2,280,162 $ 0.48 Exercised — $ — Cancelled (522,531 ) $ 5.66 Balances, March 31, 2023 10,204,094 $ 6.19 6.98 $ — Vested and expected to vest, March 31, 2023 10,204,094 $ 6.19 6.98 $ — Exercisable at March 31, 2023 5,285,428 $ 8.69 5.64 $ — The total intrinsic value of stock options exercised during the three months ended both March 31, 2023 and 2022, was zero, as determined at the date of the option exercise. Cash received from stock option exercises was zero for the three months ended both March 31, 2023 and 2022. The Company issues new shares of common stock upon exercise of options.

Restructuring Related Expenses

Restructuring Related Expenses	3 Months Ended
	Mar. 31, 2023
Restructuring And Related Activities [Abstract]
Restructuring Related Expenses	NOTE 12 – RESTRUCTURING RELATED EXPENSES On March 29, 2023, the Company implemented a strategic reprioritization and corresponding reduction in workforce, designed to focus on the clinical development programs for MT-6402, MT-8421 and MT-0169, and preclinical activities related to the Company’s collaboration with Bristol Myers Squibb (the “Restructuring”) The following table summarizes the activity for the three months ended March 31, 2023 for expenses related to the restructuring accruals, which are included in Accrued liabilities in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2023 (in thousands): Balance, December 31, 2022 $ — Restructuring expenses 305 Balance, March 31, 2023 $ 305

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of the Company and its wholly owned subsidiary and reflect the elimination of intercompany accounts and transactions. The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect the recorded amounts reported therein. A change in facts or circumstances surrounding the estimates could result in a change to estimates and impact future operating results. Certain accounts in the prior financial statements have been reclassified for comparative purposes to conform to the presentation in the current financial statements. These reclassifications have no material effect on previously reported financials. The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the interim unaudited condensed consolidated financial statements have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023.
Going Concern	Going Concern The Company has adopted as required the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (ASC) Topic 205-40, Presentation of Financial Statements - Going Concern, which requires that management contemplate the realization of assets and liquidation of liabilities in the normal course of business, and evaluate whether there are relevant conditions and events that in aggregate raise substantial doubt about the entity’s ability to continue as a going concern and to meet its obligations as they become due within one year after the date that the financial statements are issued. Under this standard, management’s assessment shall not take into consideration the potential mitigating effects of management’s plans that have not been fully implemented as of the date the financial statements are issued. There is substantial doubt about the Company’s ability to continue as a going concern as of the date of this Quarterly Report on Form 10-Q. This substantial doubt relates to the Company’s future compliance with the financial covenant in its Loan and Security Agreement with K2 HealthVentures LLC (the “K2 Loan and Security Agreement”), which requires the Company to certify monthly that it has cash, cash equivalents and marketable securities of at least five times the Company’s cash monthly burn as defined in the agreement (the “Financial Covenant”), as well as the Company’s ability to avoid triggering an event of default related to its solvency (an “Insolvency Event of Default”) under the K2 Loan and Security Agreement. Currently, based on anticipated cost-savings from the restructuring, discussed in Note 12 “Restructuring Related Expenses,” he Company anticipates continued compliance with the Financial Covenant and anticipates the ability to avoid triggering an event of default related to an Insolvency Event of Default late into the third quarter of 2023. However, t he Company will require additional funding in order to meet its covenant requirements and ongoing operations. If the Company cannot raise additional capital to maintain its compliance thereafter or negotiate an amendment to the Financial Covenant or the Insolvency Events of Default, then the Company will be in default of the K2 Loan and Security Agreement and the repayment of the Company’s indebtedness may be accelerated in full by K2 HealthVentures LLC. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and to provide sufficient certainty that it will continue as a going concern. At March 31, 2023, the Company had cash, cash equivalents, and marketable securities of $41.7 million, including borrowings of $35.0 million under the K2 Loan and Security Agreement whose scheduled maturity date for repayment is June 1, 2024, but a default of the Financial Covenant or an Insolvency Event of Default would potentially trigger accelerated repayment There can be no assurances that the Company will be able to raise sufficient capital to fund ongoing operations and maintain compliance with the Financial Covenant, and avoid triggering an event of default related to an Insolvency Event of Default beyond the third quarter of 2023 and/or be successful at negotiating an amendment to the K2 Loan and Security Agreement. If the Company is unable to obtain additional capital and continue as a going concern, it might have to liquidate its assets, and the values it receives for its assets in liquidation or dissolution could be significantly lower than the values reflected in its financial statements . These financial statements do not give effect to any adjustments which will be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2023, as compared to the significant accounting policies disclosed in Note 1, “Summary of Significant Accounting Policies”, to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers temporary investments having original maturities of three months or less from date of purchase to be cash equivalents. Restricted cash is recorded in other assets, based on when the restrictions expire. Other assets include $2.5 million of restricted cash at both March 31, 2023 and December 31, 2022, related to letters of credit in lieu of a cash deposit for the Company’s leases .
Fair Value Measurement	Fair Value Measurement The Company accounts for its marketable securities in accordance with ASC 820 “Fair Value Measurements and Disclosures.” Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. For Level 2 securities that have market prices from multiples sources, a “consensus price” or a weighted average price for each of these securities can be derived from a distribution-curve-based algorithm which includes market prices obtained from a variety of industrial standard data providers (e.g. Bloomberg), security master files from large financial institutions, and other third-party sources. Level 2 securities with short maturities and infrequent secondary market trades are typically priced using mathematical calculations adjusted for observable inputs when available.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash and cash equivalents, investments, long term debt and accounts receivable. The Company’s cash and cash equivalents are with two major financial institutions in the United States. The Company performs an ongoing credit evaluation of its strategic partners’ financial conditions and generally does not require collateral to secure accounts receivable from its strategic partners. At March 31, 2023, the Company’s exposure to credit risk associated with non-payment will be affected principally by conditions or occurrences within Bristol Myers Squibb Company (“Bristol Myers Squibb”). In past years, Bristol Myers Squibb Drug or biologic candidates developed by the Company may require approvals or clearances from the U.S. Food and Drug Administration (“FDA”) or international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s drug or biologic candidates will receive any of the required approvals or clearances. If the Company were to be denied approval or clearance or any such approval or clearance were to be delayed, it would have a material adverse impact on the Company .
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (Subtopic 470-20: Debt with Conversion and Other Options and Subtopic 815-40: Derivatives and Hedging - Contracts in Entity’s Own Equity). The new guidance simplifies accounting for convertible instruments by removing major separation models, removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, and it also simplifies the diluted earnings per share calculation in certain areas. The amendment is effective for the Company for fiscal years beginning after December 15, 2023. The Company does not expect this to have a material impact since there are no material convertible instruments at this time.

Research and Development Agre_2

Research and Development Agreements (Tables)	3 Months Ended
	Mar. 31, 2023
Research And Development [Abstract]
Schedule of Research and Development Revenues Disaggregated by Location	Research and development revenue is attributable to regions based on the location of each of the Company’s collaboration partner's parent company headquarters. Research and development revenues disaggregated by location were as follows (in thousands): Three Months Ended March 31, 2023 2022 United States $ 33,627 $ 5,900 Japan — 2,586 Total research and development revenue $ 33,627 $ 8,486

Marketable Securities and Fai_2

Marketable Securities and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial Assets at Fair Value on Recurring Basis	The following table sets forth the Company’s financial assets (cash equivalents and marketable securities) at fair value on a recurring basis (in thousands): Basis of Fair Value Measurements March 31, 2023 Level 1 Level 2 Level 3 Money market funds $ 30,940 $ 30,940 $ — $ — Commercial paper 6,625 — 6,625 — United States Treasury Bills 1,500 — 1,500 — Corporate Bonds 999 — 999 — Total $ 40,064 $ 30,940 $ 9,124 $ — Amounts included in: Cash and cash equivalents $ 37,175 Marketable securities, current 2,889 Total cash equivalents and marketable securities $ 40,064 Basis of Fair Value Measurements December 31, 2022 Level 1 Level 2 Level 3 Money market funds $ 24,546 $ 24,546 $ — $ — Commercial paper 21,134 — 21,134 — United States Treasury Bills 10,702 — 10,702 — Cash 2,500 2,500 — — Total $ 58,882 $ 27,046 $ 31,836 $ — Amounts included in: Cash and cash equivalents $ 30,023 Marketable securities, current 28,859 Total cash equivalents and marketable securities $ 58,882
Summary of Company's Available-for-Sale Securities	The Company invests in highly-liquid, investment-grade securities. The following is a summary of the Company’s available-for-sale securities (in thousands): March 31, 2023 Cost Basis Unrealized Gain Unrealized Loss Fair Value Cash equivalents - money market funds, commercial paper and corporate bonds $ 37,175 $ 1 $ (1 ) $ 37,175 Marketable securities, current - commercial paper $ 2,889 $ — $ — $ 2,889 December 31, 2022 Cost Basis Unrealized Gain Unrealized Loss Fair Value Cash equivalents - money market funds, commercial paper and corporate bonds $ 30,022 $ 1 $ — $ 30,023 Marketable securities, current - commercial paper, Treasury bills $ 28,926 $ — $ (67 ) $ 28,859

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Components of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): March 31, 2023 December 31, 2022 Accrued liabilities: General and administrative $ 1,066 $ 855 Clinical trial related costs 2,023 1,327 Non-clinical research and manufacturing operations 1,182 1,779 Payroll related 1,243 4,828 Other accrued expenses 28 34 Total Accrued liabilities $ 5,542 $ 8,823

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
Property Plant And Equipment [Abstract]
Components of Property and Equipment	Property and equipment consists of the following (in thousands): March 31, December 31, 2023 2022 Laboratory equipment $ 22,023 $ 21,831 Leasehold improvements 12,974 12,971 Furniture and fixtures 518 518 Computer and equipment 658 658 36,173 35,978 Less: Accumulated depreciation (23,359 ) (21,346 ) Total property and equipment, net $ 12,814 $ 14,632

Borrowing Arrangements (Tables)

Borrowing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Required Future Principal Payments	Future required principal and final payments on the K2 Loan were as follows at March 31, 2023 ($ in thousands): 2023 $ — 2024 35,000 Total Principal Amounts 35,000 Final Fee Due at Maturity 2,398 Unamortized discount, deferred costs and final fee (996 ) Total Long-Term Debt, net $ 36,402

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Components of Lease Expense	The following table summarizes the components of lease expense for the three months ended March 31, 2023 and March 31, 2022 and (in thousands): Three Months Ended March 31, 2023 2022 Operating leases Operating lease expense $ 727 $ 601 Variable lease expense 104 119 Total operating lease expense $ 831 $ 720
Schedule of Balance Sheets Classification of Leases	The following table summarizes the balance sheet classification of leases at March 31, 2023 (in thousands): March 31, 2023 Operating leases Operating lease right-of-use assets $ 10,652 Operating lease liabilities, current 1 $ 2,286 Operating lease liabilities, non-current 11,635 Total operating lease liabilities $ 13,921 1. Included in other current liabilities.
Schedule of Leases Information	The following table presents other information on leases as of March 31, 2023 and December 31, 2022: March 31, December 31, 2023 2022 Weighted average remaining lease term, operating leases 5.31 years 5.54 years Weighted average discount rate, operating leases 8.22% 8.21%
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities were as follows as of March 31, 2023 (in thousands): Operating Leases 2023 (remaining) $ 2,479 2024 3,369 2025 3,299 2026 2,564 2027 2,636 Thereafter 2,872 Total lease payments $ 17,219 Less: Imputed interest (3,298 ) Total lease liabilities $ 13,921
Supplemental Cash Flow Information	Supplemental cash flow information related to the Company’s leases were as follows (in thousands): Three Months Ended March 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows operating leases $ 806

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Expense	Stock-based compensation expense, which consists of the compensation cost for employee stock options and the value of options issued to non-employees for services rendered, was allocated to research and development and general and administrative in the consolidated statements of operations as follows (in thousands): Three Months Ended March 31, 2023 2022 Research and development $ 1,233 $ 1,962 General and administrative 1,077 1,720 Total stock-based compensation $ 2,310 $ 3,682
Weighted-Average Fair Value Valuation Assumptions	The fair value of employee stock options was estimated using the following weighted-average assumptions: Three Months Ended March 31, 2023 2022 Employee Stock Options: Risk-free interest rate 3.94 % 2.02 % Expected term (in years) 6.08 6.08 Dividend yield — — Volatility 77.17 % 90.41 % Weighted-average fair value of stock options granted $ 0.34 $ 2.07
Summary of Stock Option Activity Under Equity Incentive Plan	The following table summarizes stock option activity under the Company’s equity incentive plans: Outstanding Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in millions): Balances, December 31, 2021 7,854,473 $ 10.21 6.72 $ 0.95 Granted 2,920,189 $ 2.21 Exercised (46,598 ) $ 0.71 Cancelled (2,281,601 ) $ 9.44 Balances, December 31, 2022 8,446,463 $ 7.70 7.09 $ — Granted 2,280,162 $ 0.48 Exercised — $ — Cancelled (522,531 ) $ 5.66 Balances, March 31, 2023 10,204,094 $ 6.19 6.98 $ — Vested and expected to vest, March 31, 2023 10,204,094 $ 6.19 6.98 $ — Exercisable at March 31, 2023 5,285,428 $ 8.69 5.64 $ —

Restructuring Related Expenses

Restructuring Related Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring And Related Activities [Abstract]
Summary of Activity for Expenses Related to Restructuring Accruals	The following table summarizes the activity for the three months ended March 31, 2023 for expenses related to the restructuring accruals, which are included in Accrued liabilities in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2023 (in thousands): Balance, December 31, 2022 $ — Restructuring expenses 305 Balance, March 31, 2023 $ 305

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Organization And Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit	$ (433,923)		$ (444,768)
Cash, cash equivalents, and marketable securities	41,700
Restricted cash included in other assets	$ 2,489	$ 2,668	$ 2,500
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets	Other assets
Revenue | Concentration of Credit Risk and Other Risks and Uncertainties | Takeda Pharmaceuticals Inc
Organization And Summary Of Significant Accounting Policies [Line Items]
Percentage of total revenues	0%	30%
Revenue | Concentration of Credit Risk and Other Risks and Uncertainties | Bristol Myers Squibb
Organization And Summary Of Significant Accounting Policies [Line Items]
Percentage of total revenues	92%	70%
K2 Loan and Security Agreement
Organization And Summary Of Significant Accounting Policies [Line Items]
Borrowings	$ 35,000		$ 35,000
Maturity date	Jun. 01, 2024

Net Income_(Loss) Per Common _2

Net Income/(Loss) Per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Options, Warrants and Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common shares excluded from the computation of diluted net income/(loss) per share on effect of anti-dilutive	8,680,000	12,999,000

Research and Development Agre_3

Research and Development Agreements - Schedule of Research and Development Revenues Disaggregated by Location (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue Recognition [Line Items]
Total research and development revenue	$ 33,627	$ 8,486
JAPAN
Revenue Recognition [Line Items]
Total research and development revenue	0	2,586
UNITED STATES
Revenue Recognition [Line Items]
Total research and development revenue	$ 33,627	$ 5,900

Research and Development Agre_4

Research and Development Agreements - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 28, 2021	Sep. 30, 2018	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Research And Development Collaboration Agreements [Line Items]
Revenue from collaborative arrangement			$ 36,629,000	$ 8,486,000
Research and development revenue recognized			33,627,000	8,486,000
Grant
Research And Development Collaboration Agreements [Line Items]
Revenue from collaborative arrangement			2,800,000		$ 0
CPRIT Agreement | Cancer Prevention and Research Institute of Texas
Research And Development Collaboration Agreements [Line Items]
Product development grant awarded		$ 15,200,000
CPRIT Agreement | Cancer Prevention and Research Institute of Texas | Grant
Research And Development Collaboration Agreements [Line Items]
Revenue from collaborative arrangement			12,400,000
Grant Agreements | Grants Revenue Receivable
Research And Development Collaboration Agreements [Line Items]
Reimbursement amounts submitted in excess of amounts received are recorded as receivables			3,000,000	0
Bristol Myers Squibb Collaboration Agreement
Research And Development Collaboration Agreements [Line Items]
Upfront payment	$ 70,000,000
Milestone payments receivable if option is exercised	874,500,000
Transaction price allocated to performance obligations	70,000,000
Revenue from collaborative arrangement			33,600,000		5,900,000
Research and development revenue recognized			25,800,000
Deferred revenue, current			19,400,000		45,300,000
Deferred revenue, non-current			1,200,000		5,900,000
Bristol Myers Squibb Collaboration Agreement | Sales Milestone
Research And Development Collaboration Agreements [Line Items]
Milestone payments receivable if option is exercised	$ 450,000,000
Takeda Multi Target Agreement | Takeda Pharmaceuticals Inc
Research And Development Collaboration Agreements [Line Items]
Research and development revenue recognized			0	$ 2,600,000
Deferred revenue			$ 0		$ 0

Marketable Securities and Fai_3

Marketable Securities and Fair Value Measurements - Financial Assets at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	$ 40,064	$ 58,882
Cash and cash equivalents	38,782	32,190	$ 19,572
Marketable securities, current	2,889	28,859
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	30,940	24,546
Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	6,625	21,134
United States Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	1,500	10,702
Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	999
Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		2,500
Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	37,175	30,023
Basis of Fair Value Measurements, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	30,940	27,046
Basis of Fair Value Measurements, Level 1 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	30,940	24,546
Basis of Fair Value Measurements, Level 1 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 1 | United States Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 1 | Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0
Basis of Fair Value Measurements, Level 1 | Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		2,500
Basis of Fair Value Measurements, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	9,124	31,836
Basis of Fair Value Measurements, Level 2 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 2 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	6,625	21,134
Basis of Fair Value Measurements, Level 2 | United States Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	1,500	10,702
Basis of Fair Value Measurements, Level 2 | Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	999
Basis of Fair Value Measurements, Level 2 | Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		0
Basis of Fair Value Measurements, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 3 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 3 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 3 | United States Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	0	0
Basis of Fair Value Measurements, Level 3 | Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	$ 0
Basis of Fair Value Measurements, Level 3 | Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		$ 0

Marketable Securities and Fai_4

Marketable Securities and Fair Value Measurements - Summary of Company's Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 2,889	$ 28,859
Money Market Funds Commercial Paper And Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Cost Basis	37,175	30,022
Unrealized Gain	1	1
Unrealized Loss	(1)	0
Fair Value	37,175	30,023
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Cost Basis	2,889
Unrealized Gain	0
Unrealized Loss	0
Fair Value	$ 2,889
Commercial Paper And Treasury Bills
Schedule Of Available For Sale Securities [Line Items]
Cost Basis		28,926
Unrealized Gain		0
Unrealized Loss		(67)
Fair Value		$ 28,859

Marketable Securities and Fai_5

Marketable Securities and Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments Debt And Equity Securities [Abstract]
Proceeds from sale of available-for-sale securities	$ 0	$ 0
Available-for-sale securities, realized gain	$ 0	$ 0

Balance Sheet Components - Comp

Balance Sheet Components - Components of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued liabilities:
General and administrative	$ 1,066	$ 855
Clinical trial related costs	2,023	1,327
Non-clinical research and manufacturing operations	1,182	1,779
Payroll related	1,243	4,828
Other accrued expenses	28	34
Total Accrued liabilities	$ 5,542	$ 8,823

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property and equipment, Gross	$ 36,173	$ 35,978
Less: Accumulated depreciation	(23,359)	(21,346)
Total property and equipment, net	12,814	14,632
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment, Gross	22,023	21,831
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, Gross	12,974	12,971
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, Gross	518	518
Computer and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, Gross	$ 658	$ 658

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Depreciation expense	$ 2	$ 1.8
Leasehold Improvements
Property Plant And Equipment [Line Items]
Asset retirement obligation, asset	$ 0.3		$ 0.3

Borrowing Arrangements - Additi

Borrowing Arrangements - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	May 31, 2020	Apr. 04, 2022	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, carrying value			$ 36,400	$ 36,200
K2 Loan and Security Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity under loan	$ 45,000
Loan and security agreement	$ 35,000
Loan and security agreement, lapsed amount					$ 10,000
Interest rate			8.45%
Amendment fee		$ 300
Debt net			$ 2,800
Debt instrument, covenant compliance			The Company was in compliance with the Financial Covenant and solvency requirements at March 31, 2023
Total debt			$ 35,000	$ 35,000
Long-term debt, carrying value			$ 36,402
K2 Loan and Security Agreement | Prime Rate
Debt Instrument [Line Items]
Interest rate			5.20%
Tranche Two | K2 Loan and Security Agreement
Debt Instrument [Line Items]
Additionally incurred prepaid facilities fee			$ 200

Borrowing Arrangements - Schedu

Borrowing Arrangements - Schedule of Required Future Principal Payments (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total Long-Term Debt, net	$ 36,400	$ 36,200
K2 Loan and Security Agreement
Debt Instrument [Line Items]
2023	0
2024	35,000
Total Principal Amounts	35,000	$ 35,000
Final Fee Due at Maturity	2,398
Unamortized discount, deferred costs and final fee	(996)
Total Long-Term Debt, net	$ 36,402

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions		1 Months Ended
	Jul. 31, 2022	Oct. 31, 2022	Mar. 31, 2023
Lessee Lease Description [Line Items]
Lessee, operating leases renewal lease term			7 years
Lease Amendment
Lessee Lease Description [Line Items]
Additional extended lease term		6 years
Additional extended lease term beginning date		Aug. 31, 2023
Additional extended lease term end date		Aug. 31, 2029
Committed lease amount payment period		6 years
Option to extend lease term		7 years
Aggregated lease commitments		$ 6.7
Amount abated in installments from the monthly lease commitments		$ 0.2
Texas
Lessee Lease Description [Line Items]
Additional extended lease term	5 years
Additional extended lease term beginning date	Aug. 31, 2023
Additional extended lease term end date	Aug. 31, 2028
Minimum
Lessee Lease Description [Line Items]
Lessee, operating leases remaining lease term.			3 years
Maximum
Lessee Lease Description [Line Items]
Lessee, operating leases remaining lease term.			7 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease expense	$ 727	$ 601
Variable lease expense	104	119
Total operating lease expense	$ 831	$ 720

Leases - Schedule of Balance Sh

Leases - Schedule of Balance Sheets Classification of Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating leases
Operating lease right-of-use assets	$ 10,652	$ 11,132
Operating lease liabilities, current	$ 2,286
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities
Operating lease liabilities, non-current	$ 11,635	$ 12,231
Total operating lease liabilities	$ 13,921

Leases - Schedule of Leases Inf

Leases - Schedule of Leases Information (Detail)	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term, operating leases	5 years 3 months 21 days	5 years 6 months 14 days
Weighted average discount rate, operating leases	8.22%	8.21%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Lease payments
2023 (remaining)	$ 2,479
2024	3,369
2025	3,299
2026	2,564
2027	2,636
Thereafter	2,872
Total lease payments	17,219
Less: Imputed interest	(3,298)
Total lease liabilities	$ 13,921

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$ 806

Contractual Commitments - Addit

Contractual Commitments - Additional Information (Detail)	Mar. 31, 2023 USD ($)
Other Commitments [Line Items]
Upfront fees unamortized balance included in prepaid asset	$ 0
Contractual obligation	34,600,000
Minimum
Other Commitments [Line Items]
Estimated purchase obligation	3,100,000
Maximum
Other Commitments [Line Items]
Estimated purchase obligation	$ 3,300,000

Stock Based Compensation - Stoc

Stock Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 2,310	$ 3,682
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	1,233	1,962
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 1,077	$ 1,720

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock-based awards granted to employees under the equity incentive plans	$ 13,500,000
Unrecognized compensation cost related to unvested stock-based awards granted to employees under the equity incentive plans, period for recognition	2 years 7 months 6 days
Total intrinsic value of stock options exercised	$ 0	$ 0
Equity Incentive Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash received from stock option exercises	$ 0	$ 0

Stock Based Compensation - Weig

Stock Based Compensation - Weighted-Average Fair Value Valuation Assumptions (Detail) - Employee Stock Options - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	3.94%	2.02%
Expected term (in years)	6 years 29 days	6 years 29 days
Dividend yield	0%	0%
Volatility	77.17%	90.41%
Weighted-average fair value of stock options granted	$ 0.34	$ 2.07

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock Option Activity Under Equity Incentive Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Outstanding Options Number of Shares, Beginning Balance	8,446,463	7,854,473
Number of Shares, Options granted	2,280,162	2,920,189
Number of Shares, Options exercised	0	(46,598)
Number of shares, Options cancelled	(522,531)	(2,281,601)
Outstanding Options Number of Shares, Ending Balance	10,204,094	8,446,463	7,854,473
Outstanding Options Number of Shares, Vested and expected to vest, March 31, 2023	10,204,094
Outstanding Options Number of Shares, Exercisable at March 31, 2023	5,285,428
Weighted Average Exercise Price, Beginning Balance	$ 7.70	$ 10.21
Weighted Average Exercise Price, Options granted	0.48	2.21
Weighted Average Exercise Price, Options exercised	0	0.71
Weighted Average Exercise Price, Options cancelled	5.66	9.44
Weighted Average Exercise Price, Ending Balance	6.19	$ 7.70	$ 10.21
Weighted Average Exercise Price, Vested and expected to vest, March 31, 2023	6.19
Weighted Average Exercise Price, Exercisable at March 31, 2023	$ 8.69
Weighted-Average Remaining Contractual Term, Outstanding	6 years 11 months 23 days	7 years 1 month 2 days	6 years 8 months 19 days
Weighted-Average Remaining Contractual Term, Vested and expected to vest, March 31, 2023	6 years 11 months 23 days
Weighted-Average Remaining Contractual Term, Exercisable at March 31, 2023	5 years 7 months 20 days
Aggregate Intrinsic Value, Outstanding	$ 0	$ 0	$ 950
Aggregate Intrinsic Value, Vested and expected to vest, March 31, 2023	0
Aggregate Intrinsic Value, Exercisable at March 31, 2023	$ 0

Restructuring Related Expense_2

Restructuring Related Expenses - Additional information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Mar. 29, 2023	Mar. 31, 2023
Restructuring And Related Activities [Abstract]
Restructuring reduced the company workforce	50%
Restructuring Charges		$ 305
Severance Costs	$ 400

Restructuring Related Expense_3

Restructuring Related Expenses - Summary of Activity for Expenses Related to Restructuring Accruals (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Restructuring And Related Activities [Abstract]
Balance, December 31, 2022	$ 0
Restructuring Charges	305
Balance, March 31, 2023	$ 305