aTyr Pharma (ATYR) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 09, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Security Exchange Name	NASDAQ
Trading Symbol	LIFE
Entity Registrant Name	ATYR PHARMA, INC.
Entity Central Index Key	0001339970
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		27,790,677
Entity File Number	001-37378
Entity Tax Identification Number	20-3435077
Entity Address, Address Line One	3545 John Hopkins Court
Entity Address, Address Line Two	Suite #250
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Incorporation, State or Country Code	DE
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	731-8389
Title of 12(b) Security	Common Stock, par value $0.001 per share

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 59,742	$ 16,952
Available-for-sale investments	56,612	14,737
Other receivables	129	2,039
Prepaid expenses	5,089	1,803
Total current assets	121,572	35,531
Property and equipment, net	707	899
Right-of-use assets	1,479	2,083
Other assets	158	213
Total assets	123,916	38,726
Current liabilities:
Accounts payable	900	1,431
Accrued expenses	3,971	3,572
Current portion of operating lease liability	949	861
Total current liabilities	5,820	5,864
Long-term operating lease liability, net of current portion	657	1,378
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock, $0.001 par value per share; 5,000,000 undesignated authorized shares; Class X Convertible Preferred Stock issued and outstanding shares – 0 as of September 30, 2021 (unaudited) and December 31, 2020, respectively
Common stock, $0.001 par value per share; 42,500,000 and 21,425,000 authorized shares as of September 30, 2021 and December 31, 2020, respectively; issued and outstanding shares – 27,790,677 (unaudited) and 11,018,954 as of September 30, 2021 and December 31, 2020, respectively	28	11
Additional paid-in capital	481,390	370,210
Accumulated other comprehensive loss	(69)	(43)
Accumulated deficit	(363,737)	(338,528)
Total aTyr Pharma stockholders’ equity	117,612	31,650
Noncontrolling interest in Pangu BioPharma Limited	(173)	(166)
Total stockholders' equity	117,439	31,484
Total liabilities and stockholders’ equity	$ 123,916	$ 38,726

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	42,500,000	21,425,000
Common stock, shares issued	27,790,677	11,018,954
Common stock, shares outstanding	27,790,677	11,018,954
Class X Convertible Preferred Stock [Member]
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Total revenues		$ 148		$ 8,402
Operating expenses:
Research and development	$ 5,138	4,616	$ 17,309	12,593
General and administrative	2,590	2,044	8,066	6,780
Total operating expenses	7,728	6,660	25,375	19,373
Loss from operations	(7,728)	(6,512)	(25,375)	(10,971)
Total other income (expense), net	59	(88)	159	(324)
Consolidated net loss	(7,669)	(6,600)	(25,216)	(11,295)
Net loss attributable to noncontrolling interest in Pangu BioPharma Limited	2	1	7	3
Net loss attributable to aTyr Pharma, Inc.	$ (7,667)	$ (6,599)	$ (25,209)	$ (11,292)
Net loss per share, basic and diluted	$ (0.42)	$ (0.68)	$ (1.56)	$ (1.31)
Shares used in computing net loss per share, basic and diluted	18,159,231	9,648,534	16,145,351	8,632,972
License and Collaboration Agreement Revenues [Member]
Revenues:
Total revenues		$ 148		$ 8,402

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Consolidated net loss	$ (7,669)	$ (6,600)	$ (25,216)	$ (11,295)
Other comprehensive loss:
Change in unrealized gain (loss) on available-for-sale investments, net of tax	(8)	2	(26)	(2)
Comprehensive loss	(7,677)	(6,598)	(25,242)	(11,297)
Comprehensive loss attributable to noncontrolling interest Pangu BioPharma Limited	2	1	7	3
Comprehensive loss attributable to aTyr Pharma, Inc. common stockholders	$ (7,675)	$ (6,597)	$ (25,235)	$ (11,294)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	AOCI Attributable to Parent	Retained Earnings	Noncontrolling Interest	Convertible Preferred Stock
Beginning balance at Dec. 31, 2019	$ 21,026	$ 4	$ 343,524	$ (40)	$ (322,304)	$ (160)	$ 2
Begining balance, Shares at Dec. 31, 2019		3,891,787					1,643,961
Conversion of preferred stock to common stock		$ 1	1				$ (2)
Conversion of preferred stock to common stock, shares		587,444					(1,643,961)
Issuance of common stock upon release of restricted stock units, shares		2,679
Issuance of common stock from underwritten follow-on offering, net of offering costs	18,779	$ 4	18,775
Issuance of common stock from underwritten follow-on offering, net of offering costs, shares		4,870,588
Stock-based compensation	423		423
Change in unrealized gain (loss) on available-for-sale investments, net of tax	(13)			(13)
Consolidated net income (loss)	1,752				1,753	(1)
Ending balance at Mar. 31, 2020	41,967	$ 9	362,723	(53)	(320,551)	(161)
Ending balance, Shares at Mar. 31, 2020		9,352,498
Beginning balance at Dec. 31, 2019	21,026	$ 4	343,524	(40)	(322,304)	(160)	$ 2
Begining balance, Shares at Dec. 31, 2019		3,891,787					1,643,961
Change in unrealized gain (loss) on available-for-sale investments, net of tax	(2)
Consolidated net income (loss)	(11,295)
Ending balance at Sep. 30, 2020	31,998	$ 10	365,789	(42)	(333,596)	(163)
Ending balance, Shares at Sep. 30, 2020		9,990,962
Beginning balance at Mar. 31, 2020	41,967	$ 9	362,723	(53)	(320,551)	(161)
Begining balance, Shares at Mar. 31, 2020		9,352,498
Issuance of common stock upon release of restricted stock units, shares		5,999
Issuance of common stock pursuant to employee stock purchase plan	6		6
Issuance of common stock pursuant to employee stock purchase plan, shares		1,780
Issuance of common stock from at-the-market offerings, net of offering costs	25		25
Issuance of common stock from at the market offerings, net of offering costs, shares		23,148
Stock-based compensation	378		378
Change in unrealized gain (loss) on available-for-sale investments, net of tax	9			9
Consolidated net income (loss)	(6,447)				(6,446)	(1)
Ending balance at Jun. 30, 2020	35,938	$ 9	363,132	(44)	(326,997)	(162)
Ending balance, Shares at Jun. 30, 2020		9,383,425
Issuance of common stock from at-the-market offerings, net of offering costs	2,334	$ 1	2,333
Issuance of common stock from at the market offerings, net of offering costs, shares		607,537
Stock-based compensation	324		324
Change in unrealized gain (loss) on available-for-sale investments, net of tax	2			2
Consolidated net income (loss)	(6,600)				(6,599)	(1)
Ending balance at Sep. 30, 2020	31,998	$ 10	365,789	(42)	(333,596)	(163)
Ending balance, Shares at Sep. 30, 2020		9,990,962
Beginning balance at Dec. 31, 2020	31,484	$ 11	370,210	(43)	(338,528)	(166)
Begining balance, Shares at Dec. 31, 2020		11,018,954
Issuance of common stock upon release of restricted stock units, shares		4,177
Issuance of common stock from at-the-market offerings, net of offering costs	9,621	$ 2	9,619
Issuance of common stock from at the market offerings, net of offering costs, shares		1,988,254
Issuance of common stock from committed purchase agreement, net of offering costs	15,236	$ 3	15,233
Issuance of common stock from committed purchase agreement, net of offering costs, shares		3,000,000
Stock-based compensation	360		360
Change in unrealized gain (loss) on available-for-sale investments, net of tax	(14)			(14)
Consolidated net income (loss)	(7,155)				(7,151)	(4)
Ending balance at Mar. 31, 2021	49,532	$ 16	395,422	(57)	(345,679)	(170)
Ending balance, Shares at Mar. 31, 2021		16,011,385
Beginning balance at Dec. 31, 2020	$ 31,484	$ 11	370,210	(43)	(338,528)	(166)
Begining balance, Shares at Dec. 31, 2020		11,018,954
Issuance of common stock upon exercise of stock options, shares	10,173
Change in unrealized gain (loss) on available-for-sale investments, net of tax	$ (26)
Consolidated net income (loss)	(25,216)
Ending balance at Sep. 30, 2021	117,439	$ 28	481,390	(69)	(363,737)	(173)
Ending balance, Shares at Sep. 30, 2021		27,790,677
Beginning balance at Mar. 31, 2021	49,532	$ 16	395,422	(57)	(345,679)	(170)
Begining balance, Shares at Mar. 31, 2021		16,011,385
Issuance of common stock upon exercise of stock options	1		1
Issuance of common stock upon exercise of stock options, shares		553
Issuance of common stock pursuant to employee stock purchase plan	5		5
Issuance of common stock pursuant to employee stock purchase plan, shares		1,602
Issuance of common stock from at-the-market offerings, net of offering costs	1,265		1,265
Issuance of common stock from at the market offerings, net of offering costs, shares		293,830
Stock-based compensation	398		398
Change in unrealized gain (loss) on available-for-sale investments, net of tax	(4)			(4)
Consolidated net income (loss)	(10,392)				(10,391)	(1)
Ending balance at Jun. 30, 2021	40,805	$ 16	397,091	(61)	(356,070)	(171)
Ending balance, Shares at Jun. 30, 2021		16,307,370
Issuance of common stock upon exercise of stock options	58		58
Issuance of common stock upon exercise of stock options, shares		9,620
Issuance of common stock from at-the-market offerings, net of offering costs	3,184	$ 1	3,183
Issuance of common stock from at the market offerings, net of offering costs, shares		692,437
Issuance of common stock from underwritten follow-on offering, net of offering costs	80,627	$ 11	80,616
Issuance of common stock from underwritten follow-on offering, net of offering costs, shares		10,781,250
Stock-based compensation	442		442
Change in unrealized gain (loss) on available-for-sale investments, net of tax	(8)			(8)
Consolidated net income (loss)	(7,669)				(7,667)	(2)
Ending balance at Sep. 30, 2021	$ 117,439	$ 28	$ 481,390	$ (69)	$ (363,737)	$ (173)
Ending balance, Shares at Sep. 30, 2021		27,790,677

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Consolidated net loss	$ (25,216)	$ (11,295)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	367	441
Stock-based compensation	1,200	1,125
Debt discount accretion and non-cash interest expense		324
Accretion of discount of available-for-sale investment securities	143	55
Amortization of right-of-use assets	617	579
Loss on disposal of property and equipment		10
Changes in operating assets and liabilities:
Other receivables	1,910	(145)
Prepaid expenses and other assets	(3,244)	(1,146)
Accounts payable and accrued expenses	(133)	862
Contract liability		(155)
Operating lease liability	(633)	(555)
Net cash used in operating activities	(24,989)	(9,900)
Cash flows from investing activities:
Purchases of property and equipment	(174)	(197)
Purchases of available-for-sale investment securities	(68,811)	(20,168)
Maturities of available-for-sale investment securities	26,767	24,050
Proceeds from sale of property and equipment		12
Net cash provided by (used in) investing activities	(42,218)	3,697
Cash flows from financing activities:
Proceeds from issuance of common stock through option exercises	59
Proceeds from issuance of common stock through employee stock purchase plan	5	6
Proceeds from issuance of common stock from at-the-market offerings, net of offering costs	14,070	2,359
Proceeds from issuance of common stock from committed purchase agreement, net of offering costs	15,236
Proceeds from issuance of common stock from underwritten follow-on offering, net of offering costs	80,627	18,779
Repayments on borrowings		(6,000)
Net cash provided by financing activities	109,997	15,144
Net change in cash and cash equivalents	42,790	8,941
Cash and cash equivalents at beginning of period	16,952	9,210
Cash and cash equivalents at the end of period	$ 59,742	$ 18,151

Organization, Business, Basis o

Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies	1. Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies Organization and Business aTyr Pharma, Inc. (we, us, and our) was incorporated in the state of Delaware on September 8, 2005. We are focused on the discovery and development of innovative medicines based on novel biological pathways. Principles of Consolidation Our condensed consolidated financial statements include our accounts and our 98% majority-owned subsidiary in Hong Kong, Pangu BioPharma Limited (Pangu BioPharma). All intercompany transactions and balances are eliminated in consolidation. Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) and follow the requirements of the United States Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In our opinion, the unaudited interim financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial position and our results of operations and cash flows for periods presented. These statements do not include all disclosures required by GAAP and should be read in conjunction with our financial statements and accompanying notes for the fiscal year ended December 31, 2020, contained in our Annual Report on Form 10-K filed with the SEC on March 24, 2021. The results of the interim periods are not necessarily indicative of the results expected for the full fiscal year or any other interim period or any future year or period. Risks and Uncertainties The impact of the COVID-19 pandemic has been and will likely continue to be extensive in many aspects of society, which has resulted in and will likely continue to result in significant disruptions to the global economy, as well as businesses and capital markets around the world. Impacts to our business have included delayed enrollment of our now completed Phase 1b/2a clinical trial in patients with pulmonary sarcoidosis and the discontinuation of some patients in that trial, temporary closures of portions of our facilities and those of our licensees and collaborators, disruptions or restrictions on our employee's ability to travel and delays in certain research and development activities. Other potential impacts to our business include, but are not limited to disruptions to or delays in planned clinical trials, third-party manufacturing supply and other operations, inflation, the potential diversion of healthcare resources away from the conduct of clinical trials to focus on pandemic concerns, interruptions or delays in the operations of the Food and Drug Administration or other regulatory authorities, and our ability to raise capital and conduct business development activities. Liquidity and Financial Condition We have incurred net losses in each year since our inception in 2005, including a condensed consolidated net loss of $25.2 million for the nine months ended September 30, 2021. As of September 30, 2021, we had an accumulated deficit of $363.7 million. We believe that our existing cash, cash equivalents and available-for-sale investments of $116.4 million as of September 30, 2021 will be sufficient to meet our anticipated cash requirements for a period of at least one year from the filing date of this Quarterly Report on Form 10-Q. We do not expect to generate any revenues from product sales unless and until we successfully complete development and obtain regulatory approval for one or more of our product candidates, which we expect will take a number of years at a minimum. If we obtain regulatory approval for any of our product candidates, we expect to incur significant commercialization expenses related to product sales, marketing, manufacturing and distribution. Accordingly, we will need to raise substantial additional capital to fund our operations. The amount and timing of our future funding requirements will depend on many factors, including the pace and results of our preclinical and clinical development efforts and the timing and nature of the regulatory approval process for our product candidates. We anticipate that we will seek to fund our operations through equity offerings, grant funding, collaborations, strategic partnerships and/or licensing arrangements, and when we are closer to commercialization of our product candidates potentially through debt financings. However, we may be unable to raise additional capital or enter into such arrangements when needed on favorable terms or at all. Our failure to raise capital or enter into such arrangements when needed would have a negative impact on our financial condition and ability to develop our product candidates. Use of Estimates Our condensed consolidated financial statements are prepared in accordance with GAAP. The preparation of our condensed consolidated financial statements requires us to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure for these items in our condensed consolidated financial statements and accompanying notes. The most significant estimates in our condensed consolidated financial statements relate to clinical trial and research and development expenses. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ materially from these estimates and assumptions. Leases We follow Accounting Standards Codification (ASC) Topic 842, Leases Rent expense for the operating lease is recognized on a straight-line basis over the lease term and is included in operating expenses in our condensed consolidated statements of operations. Revenue Recognition We evaluate our agreements under ASC Topic 606, Revenue from Contracts with Customers and ASC Topic 808, Collaborative Arrangements . . In determining the appropriate amount of revenue to be recognized as we fulfill our obligations under our agreement, we perform the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) we satisfy each performance obligation. As part of the accounting for these arrangements, we must develop assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. We use key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. We recognize revenue in one of two ways, over time or at a point in time. We recognize revenue over time when we are executing on our performance obligation over time and our partner receives benefit over time. For example, we recognize revenue over time when we provide research and development services. We recognize revenue at a point in time when we transfer control of a distinct performance obligation to our partner. For example, if Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is calculated by dividing the net loss by the weighted average number of common stock equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of warrants for common stock, options and restricted stock units outstanding under our stock option plan and estimated shares to be purchased under our employee stock purchase plan. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding, as the assumed exercise or settlement of stock options, restricted stock units, and warrants, or the conversion of preferred stock are anti-dilutive. Potentially dilutive securities not considered for the calculation of diluted net loss per share are as follows (in common stock equivalents): Nine Months Ended September 30, 2021 2020 Common stock warrants 13,760 13,904 Common stock options and restricted stock units 1,279,036 582,582 Employee stock purchase plan 1,780 1,780 Total 1,294,576 598,266 Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in Topic 326 replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Topic 326 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for smaller reporting companies. We expect the adoption of the amendments in Topic 326 to not have a material effect in our condensed consolidated financial position or results of operations when such amendment is adopted. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes Simplifying the Accounting for Income Taxes

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	2. Fair Value Measurements The carrying amounts of cash equivalents, prepaid and other assets, accounts payable and accrued liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments. Investment securities are recorded at fair value. The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Financial assets measured at fair value on a recurring basis consist of investment securities. Investment securities are recorded at fair value, defined as the exit price in the principal market in which we would transact, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Level 2 securities are valued using quoted market prices for similar instruments, non-binding market prices that are corroborated by observable market data, or discounted cash flow techniques and include our investments in commercial paper, corporate debt securities and asset-bask securities. We have no financial liabilities measured at fair value on a recurring basis. None of our non-financial assets and liabilities are recorded at fair value on a non-recurring basis. No transfers between levels have occurred during the periods presented. Assets measured at fair value on a recurring basis are as follows (in thousands): Fair Value Measurements Using Total Quoted Active for Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of September 30, 2021 Assets: Current: Cash equivalents $ 59,435 $ 59,435 $ — $ — Available-for-sale investments: Commercial paper 27,272 — 27,272 — Corporate debt securities 27,251 — 27,251 — Municipal bonds 2,089 — 2,089 — Total available-for-sale investments 56,612 — 56,612 — Total assets measured at fair value $ 116,047 $ 59,435 $ 56,612 $ — Fair Value Measurements Using Total Quoted Active for Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2020 Assets: Current: Cash equivalents $ 13,708 $ 13,708 $ — $ — Available-for-sale investments: Asset-backed securities 2,219 — 2,219 — Commercial paper 5,494 — 5,494 — Corporate debt securities 7,024 — 7,024 — Total available-for-sale investments 14,737 — 14,737 — Total assets measured at fair value $ 28,445 $ 13,708 $ 14,737 $ — As of September 30, 2021 and December 31, 2020, available-for-sale investments are detailed as follows (in thousands): September 30, 2021 Contractual Maturity Gross Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Market Value Available-for-sale investments: Commercial paper Within 1 year $ 27,277 $ 1 $ (6 ) $ 27,272 Corporate debt securities 1 to 2 years 27,264 2 (15 ) 27,251 Municipal bonds Within 2 years 2,090 — (1 ) 2,089 $ 56,631 $ 3 $ (22 ) $ 56,612 December 31, 2020 Contractual Maturity Gross Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Market Value Available-for-sale investments: Asset-backed securities Within 1 year $ 2,218 $ 1 $ — $ 2,219 Commercial paper Within 1 year 5,491 3 — 5,494 Corporate debt securities Within 1 year 7,021 3 — 7,024 $ 14,730 $ 7 $ — $ 14,737 At each reporting date, we perform an evaluation of impairment to determine if any unrealized losses are other-than-temporary. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition of the issuer, and our intent and ability to hold the investment until recovery of its amortized cost basis. We intend, and have the ability, to hold our investments in unrealized loss positions, if any, until their amortized cost basis has been recovered. As of September 30, 2021, all of our available-for-sale investments had a variety of effective maturity dates of less than two years. As of September 30, 2021, 19 out of 30 available-for-sale investments were in gross unrealized loss positions.

License and Other Agreements

License and Other Agreements	9 Months Ended
	Sep. 30, 2021
License Agreements [Abstract]
License and Other Agreements	3. License and Other Agreements Kyorin Pharmaceutical Co., Ltd. In January 2020, we entered into a collaboration and license agreement with Kyorin Pharmaceutical Co., Ltd. (Kyorin) for the development and commercialization of ATYR1923 for interstitial lung diseases (ILD) in Japan. Under the agreement (the Kyorin Agreement), Kyorin received an exclusive right to develop and commercialize ATYR1923 in Japan for all forms of ILD. Under the terms of the Kyorin Agreement, Kyorin is obligated to fund all research, development, regulatory, marketing and commercialization activities in Japan. In September 2020, Kyorin began dosing patients in a Phase 1 clinical trial of ATYR1923 (known as KRP-R120 in Japan) and completed the last subject visit in December 2020. The Phase 1 clinical trial, which was conducted and funded by Kyorin, was a placebo-controlled study to evaluate the safety, pharmacokinetics and immunogenicity of ATYR1923. ATYR1923 was observed to be generally safe and well-tolerated with no drug-related serious adverse events and pharmacokinetics findings were consistent with previous studies of ATYR1923. We received an $8.0 million upfront payment in January 2020 and a $2.0 milestone payment in January 2021 upon completion of enrollment in the Phase 1 clinical trial, and we are eligible to receive up to an additional $165.0 million in the aggregate upon achievement of certain development, regulatory and sales milestones, as well as tiered royalties ranging from the mid-single digits to mid-teens on net sales in Japan. Following the first anniversary of the effective date of the Kyorin Agreement, Kyorin had the right to terminate the agreement for any reason upon 90 days advance written notice. In addition, either party may terminate the Kyorin Agreement in the event that the other party breaches the agreement and fails to cure the breach, becomes insolvent or challenges certain of the intellectual property rights licensed under the agreement . We assessed our license and collaboration with Kyorin in accordance with Topic 606 and concluded that Kyorin is a customer. We identified the following performance obligations under the Kyorin Agreement: 1) the license of ATYR1923 for ILD in Japan; and 2) free clinical trial material for Kyorin’s Phase 1 clinical trial. The $8.0 million upfront payment received from Kyorin is non-refundable and non-creditable and is considered fixed consideration. We determined that the relative stand-alone selling price was $7.9 million when the license was delivered to Kyorin in January 2020. We determined that the relative standalone selling price was $0.1 million for the free clinical trial material delivered to Kyorin in June 2020, using the “expected cost plus a margin” approach. In December 2020, Kyorin completed the last subject visit in its Phase 1 clinical trial of ATYR1923. This achievement triggered a $2.0 million milestone payment which we recognized as license and collaboration revenue in December 2020. We received the $2.0 million from Kyorin in January 2021. For the nine months ended September 30, 2021, there were no activities that triggered additional license and collaboration agreement revenue. For the nine months ended September 30, 2020, we recognized $8.0 million as license and collaboration agreement revenue for the upfront payment received. Both the remaining milestones and royalty payments under the Kyorin Agreement are variable consideration. Since milestone payments are binary in nature, we will use the “most-likely” method to evaluate whether the milestones should be included as revenue. We will apply constraint to these amounts until the milestone is probable of being achieved. The royalties are dependent on future sales by Kyorin which are at the full discretion of Kyorin. Accordingly, we will apply a constraint to these amounts until the future sales have occurred. Hong Kong University of Science and Technology In March 2020, our subsidiary, Pangu BioPharma, together with the Hong Kong University of Science and Technology (HKUST) was awarded a grant of approximately $750,000 to build a high-throughput platform for the development of bi-specific antibodies. The two-year project is being funded by the Hong Kong Government’s Innovation and Technology Commission (ITC) under the Partnership Research Program (PRP). The PRP aims to support research and development projects undertaken by companies in collaboration with local universities and public research institutions. The grant funded approximately 50% of the total estimated project cost and we contributed the remaining 50%. The research grant agreement between Pangu BioPharma, HKUST and the Government of the Hong Kong Special Administration Region became effective April 1, 2020. All the contributions provided by the ITC are paid to HKUST and we record expenses under this grant award when incurred. Expenses for each of the three months ended September 30, 2021 and 2020 were $ million . Expenses for the nine months ended September 30, 2021 and 2020 were approximately $ 0.3 million and $ 0.1 million , respectively .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Debt Instruments [Abstract]
Commitments and Contingencies	4. Commitments and Contingencies Facility Leases Future minimum payments under the non-cancelable facility lease and reconciliation to the operating lease liability as of September 30, 2021 were as follows (in thousands): Operating Lease 2021 $ 262 2022 1,062 2023 404 Less: Amount representing interest (122 ) Present value of lease payments 1,606 Less: Current portion of operating lease liability (949 ) Long-term operating lease liability, net of current portion $ 657 For each of the three months ended September 30, 2021 and 2020, we recorded an operating lease cost of $0.2 million. For each of the nine months ended September 30, 2021 and 2020, we recorded an operating lease cost of $0.7 million. 1

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	5. Stockholders’ Equity Underwritten Follow-On Public Offerings In September 2021, we completed an underwritten follow-on public offering of 10,781,250 shares of our common stock, including the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $8.00 per share. The total net proceeds from the offering were approximately $80.6 million, after deducting underwriting discounts, commissions and offering expenses payable by us. In February 2020, we completed an underwritten follow-on public offering of 4,235,294 shares of our common stock at a price to the public of $4.25 per share. In March 2020, the underwriters fully exercised their option to purchase additional shares resulting in the issuance of an additional 635,294 shares of common stock. The total net proceeds from the offering were approximately $18.8 million, after deducting underwriting discounts, commissions and offering expenses payable by us. At the Market Offering Programs In March 2021, we entered into a Capital on Demand TM Sales Agreement with JonesTrading Institutional Services LLC (JonesTrading) for an at-the-market offering (ATM Offering Program), pursuant to which we can sell from time to time, at our option, up to an aggregate of $25.0 million of shares of our common stock through JonesTrading, as sales agent or principal. JonesTrading is entitled to a commission at a fixed rate equal of up to 3% of the gross proceeds. For the nine months ended September 30, 2021, we sold an aggregate of 986,267 shares of common stock at an average price of $4.75 per share for net proceeds of $4.4 million under the JonesTrading ATM Offering Program. In May 2019, we entered into a sales agreement with H.C. Wainwright & Co., LLC (Wainwright) with respect to an ATM Offering Program under which we could offer and sell shares of our common stock having an aggregate offering price of up to $10.0 million. Wainwright was entitled to a commission at a fixed rate equal to 3% of the gross proceeds. In November 2020, we amended our sales agreement with Wainwright to increase the amount of the ATM Offering Program to $20.0 million. Wainwright was entitled to a commission at a fixed commission rate equal to 3% of the gross proceeds. In March 2021, the ATM Offering Program with Wainwright automatically terminated upon the issuance and sale of all of the shares of common stock having an aggregate offering price of $20.0 million. Under the ATM Offering Program with Wainwright, during 2020, we sold an aggregate of 1,657,075 shares of common stock at an average price of $4.07 per share for in 2021, we sold an aggregate of 1,988,254 shares of common stock at an average price of $4.99 per share for Purchase Agreement In September 2020 , upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $ 20.0 million of shares of our common stock at our request from time to time during the 30 month term of the Purchase Agreement. Concurrently with entering into the Purchase Agreement, we also entered into a registration rights agreement with Aspire Capital, in which we agreed to file one or more registration statements, as permissible and necessary to register under the Securities Act of 1933, as amended, for the resale of the shares of our common stock that have been and may be issued to Aspire Capital under the Purchase Agreement. For the nine months ended September 30, 2021, we sold an aggregate of 3,000,000 shares of common stock at an average price of $ 5.09 per share for net proceeds of $ 15.2 million under this Purchase Agreement. Common Stock Reserved for Future Issuance Common stock reserved for future issuance was as follows: September 30, 2021 Common stock warrants 13,760 Common stock options and restricted stock units 1,279,036 Shares available under the 2015 equity incentive plan 422,488 Shares available under the employee stock purchase plan 73,713 1,788,997 The following table summarizes our stock option activity under all equity incentive plans for the nine months ended September 30, 2021: Number of Outstanding Stock Options Weighted Average Exercise Price Outstanding as of December 31, 2020 576,534 $ 23.33 Granted 749,539 $ 4.48 Exercises (10,173 ) $ 5.86 Canceled/forfeited/expired (44,364 ) $ 22.87 Outstanding as of September 30, 2021 1,271,536 $ 12.42 The assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Expected term (in years) 5.98– 6.06 6.02 – 6.07 5.50 – 6.08 5.50 – 6.07 Risk-free interest rate 0.8%-1.1 % 0.3% – 0.4 % 0.6% – 1.1 % 0.3% – 1.5 % Expected volatility 86.3% – 86.9 % 108.0% – 108.1 % 86.3% – 104.8 % 102.2% – 109.7 % Expected dividend yield 0.0 % 0.0 % 0.0 % 0.0 % The following table summarizes our restricted stock unit activity under all equity incentive plans for the nine months ended September 30, 2021: Number of Outstanding Restricted Stock Units Weighted Average Grant Date Fair Value Balance as of December 31, 2020 7,677 $ 5.32 Granted 4,000 $ 3.89 Released (4,177 ) $ 6.18 Balance as of September 30, 2021 7,500 $ 4.08 Stock-based Compensation The allocation of stock-based compensation for all options, including performance options with a market condition, employee stock purchase plan and restricted stock units is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Research and development $ 70 $ 64 $ 198 $ 194 General and administrative 372 260 1,002 931 Total stock-based compensation expense $ 442 $ 324 $ 1,200 $ 1,125

Organization, Business, Basis_2

Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Organization and Business	Organization and Business aTyr Pharma, Inc. (we, us, and our) was incorporated in the state of Delaware on September 8, 2005. We are focused on the discovery and development of innovative medicines based on novel biological pathways.
Principles of Consolidation	Principles of Consolidation Our condensed consolidated financial statements include our accounts and our 98% majority-owned subsidiary in Hong Kong, Pangu BioPharma Limited (Pangu BioPharma). All intercompany transactions and balances are eliminated in consolidation.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) and follow the requirements of the United States Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In our opinion, the unaudited interim financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial position and our results of operations and cash flows for periods presented. These statements do not include all disclosures required by GAAP and should be read in conjunction with our financial statements and accompanying notes for the fiscal year ended December 31, 2020, contained in our Annual Report on Form 10-K filed with the SEC on March 24, 2021. The results of the interim periods are not necessarily indicative of the results expected for the full fiscal year or any other interim period or any future year or period.
Risks and Uncertainties	Risks and Uncertainties The impact of the COVID-19 pandemic has been and will likely continue to be extensive in many aspects of society, which has resulted in and will likely continue to result in significant disruptions to the global economy, as well as businesses and capital markets around the world. Impacts to our business have included delayed enrollment of our now completed Phase 1b/2a clinical trial in patients with pulmonary sarcoidosis and the discontinuation of some patients in that trial, temporary closures of portions of our facilities and those of our licensees and collaborators, disruptions or restrictions on our employee's ability to travel and delays in certain research and development activities. Other potential impacts to our business include, but are not limited to disruptions to or delays in planned clinical trials, third-party manufacturing supply and other operations, inflation, the potential diversion of healthcare resources away from the conduct of clinical trials to focus on pandemic concerns, interruptions or delays in the operations of the Food and Drug Administration or other regulatory authorities, and our ability to raise capital and conduct business development activities.
Liquidity and Financial Condition	Liquidity and Financial Condition We have incurred net losses in each year since our inception in 2005, including a condensed consolidated net loss of $25.2 million for the nine months ended September 30, 2021. As of September 30, 2021, we had an accumulated deficit of $363.7 million. We believe that our existing cash, cash equivalents and available-for-sale investments of $116.4 million as of September 30, 2021 will be sufficient to meet our anticipated cash requirements for a period of at least one year from the filing date of this Quarterly Report on Form 10-Q. We do not expect to generate any revenues from product sales unless and until we successfully complete development and obtain regulatory approval for one or more of our product candidates, which we expect will take a number of years at a minimum. If we obtain regulatory approval for any of our product candidates, we expect to incur significant commercialization expenses related to product sales, marketing, manufacturing and distribution. Accordingly, we will need to raise substantial additional capital to fund our operations. The amount and timing of our future funding requirements will depend on many factors, including the pace and results of our preclinical and clinical development efforts and the timing and nature of the regulatory approval process for our product candidates. We anticipate that we will seek to fund our operations through equity offerings, grant funding, collaborations, strategic partnerships and/or licensing arrangements, and when we are closer to commercialization of our product candidates potentially through debt financings. However, we may be unable to raise additional capital or enter into such arrangements when needed on favorable terms or at all. Our failure to raise capital or enter into such arrangements when needed would have a negative impact on our financial condition and ability to develop our product candidates.
Use of Estimates	Use of Estimates Our condensed consolidated financial statements are prepared in accordance with GAAP. The preparation of our condensed consolidated financial statements requires us to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure for these items in our condensed consolidated financial statements and accompanying notes. The most significant estimates in our condensed consolidated financial statements relate to clinical trial and research and development expenses. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ materially from these estimates and assumptions.
Leases	Leases We follow Accounting Standards Codification (ASC) Topic 842, Leases Rent expense for the operating lease is recognized on a straight-line basis over the lease term and is included in operating expenses in our condensed consolidated statements of operations.
Revenue Recognition	Revenue Recognition We evaluate our agreements under ASC Topic 606, Revenue from Contracts with Customers and ASC Topic 808, Collaborative Arrangements . . In determining the appropriate amount of revenue to be recognized as we fulfill our obligations under our agreement, we perform the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) we satisfy each performance obligation. As part of the accounting for these arrangements, we must develop assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. We use key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. We recognize revenue in one of two ways, over time or at a point in time. We recognize revenue over time when we are executing on our performance obligation over time and our partner receives benefit over time. For example, we recognize revenue over time when we provide research and development services. We recognize revenue at a point in time when we transfer control of a distinct performance obligation to our partner. For example, if
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is calculated by dividing the net loss by the weighted average number of common stock equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of warrants for common stock, options and restricted stock units outstanding under our stock option plan and estimated shares to be purchased under our employee stock purchase plan. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding, as the assumed exercise or settlement of stock options, restricted stock units, and warrants, or the conversion of preferred stock are anti-dilutive. Potentially dilutive securities not considered for the calculation of diluted net loss per share are as follows (in common stock equivalents): Nine Months Ended September 30, 2021 2020 Common stock warrants 13,760 13,904 Common stock options and restricted stock units 1,279,036 582,582 Employee stock purchase plan 1,780 1,780 Total 1,294,576 598,266
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in Topic 326 replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Topic 326 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for smaller reporting companies. We expect the adoption of the amendments in Topic 326 to not have a material effect in our condensed consolidated financial position or results of operations when such amendment is adopted. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes Simplifying the Accounting for Income Taxes

Organization, Business, Basis_3

Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Potentially Dilutive Securities Not Considered for Calculation of Diluted Net Loss Per Share	Potentially dilutive securities not considered for the calculation of diluted net loss per share are as follows (in common stock equivalents): Nine Months Ended September 30, 2021 2020 Common stock warrants 13,760 13,904 Common stock options and restricted stock units 1,279,036 582,582 Employee stock purchase plan 1,780 1,780 Total 1,294,576 598,266

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	Assets measured at fair value on a recurring basis are as follows (in thousands): Fair Value Measurements Using Total Quoted Active for Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of September 30, 2021 Assets: Current: Cash equivalents $ 59,435 $ 59,435 $ — $ — Available-for-sale investments: Commercial paper 27,272 — 27,272 — Corporate debt securities 27,251 — 27,251 — Municipal bonds 2,089 — 2,089 — Total available-for-sale investments 56,612 — 56,612 — Total assets measured at fair value $ 116,047 $ 59,435 $ 56,612 $ — Fair Value Measurements Using Total Quoted Active for Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2020 Assets: Current: Cash equivalents $ 13,708 $ 13,708 $ — $ — Available-for-sale investments: Asset-backed securities 2,219 — 2,219 — Commercial paper 5,494 — 5,494 — Corporate debt securities 7,024 — 7,024 — Total available-for-sale investments 14,737 — 14,737 — Total assets measured at fair value $ 28,445 $ 13,708 $ 14,737 $ —
Schedule of Available-for-sale Investments	As of September 30, 2021 and December 31, 2020, available-for-sale investments are detailed as follows (in thousands): September 30, 2021 Contractual Maturity Gross Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Market Value Available-for-sale investments: Commercial paper Within 1 year $ 27,277 $ 1 $ (6 ) $ 27,272 Corporate debt securities 1 to 2 years 27,264 2 (15 ) 27,251 Municipal bonds Within 2 years 2,090 — (1 ) 2,089 $ 56,631 $ 3 $ (22 ) $ 56,612 December 31, 2020 Contractual Maturity Gross Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Market Value Available-for-sale investments: Asset-backed securities Within 1 year $ 2,218 $ 1 $ — $ 2,219 Commercial paper Within 1 year 5,491 3 — 5,494 Corporate debt securities Within 1 year 7,021 3 — 7,024 $ 14,730 $ 7 $ — $ 14,737

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Instruments [Abstract]
Schedule of Future Minimum Payments under Non-cancelable Operating Lease and Reconciliation to Operating Lease Liability	Future minimum payments under the non-cancelable facility lease and reconciliation to the operating lease liability as of September 30, 2021 were as follows (in thousands): Operating Lease 2021 $ 262 2022 1,062 2023 404 Less: Amount representing interest (122 ) Present value of lease payments 1,606 Less: Current portion of operating lease liability (949 ) Long-term operating lease liability, net of current portion $ 657

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Summary of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance was as follows: September 30, 2021 Common stock warrants 13,760 Common stock options and restricted stock units 1,279,036 Shares available under the 2015 equity incentive plan 422,488 Shares available under the employee stock purchase plan 73,713 1,788,997
Summary of Stock Option Activity	The following table summarizes our stock option activity under all equity incentive plans for the nine months ended September 30, 2021: Number of Outstanding Stock Options Weighted Average Exercise Price Outstanding as of December 31, 2020 576,534 $ 23.33 Granted 749,539 $ 4.48 Exercises (10,173 ) $ 5.86 Canceled/forfeited/expired (44,364 ) $ 22.87 Outstanding as of September 30, 2021 1,271,536 $ 12.42
Schedule of Restricted Stock Unit Activity	The following table summarizes our restricted stock unit activity under all equity incentive plans for the nine months ended September 30, 2021: Number of Outstanding Restricted Stock Units Weighted Average Grant Date Fair Value Balance as of December 31, 2020 7,677 $ 5.32 Granted 4,000 $ 3.89 Released (4,177 ) $ 6.18 Balance as of September 30, 2021 7,500 $ 4.08
Schedule of Allocation of Stock-Based Compensation for All Options Including Performance Options with Market Condition, Employee Stock Purchase Plan and Restricted Stock Units	The allocation of stock-based compensation for all options, including performance options with a market condition, employee stock purchase plan and restricted stock units is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Research and development $ 70 $ 64 $ 198 $ 194 General and administrative 372 260 1,002 931 Total stock-based compensation expense $ 442 $ 324 $ 1,200 $ 1,125
Employee Stock Option [Member]
Summary of Assumptions Used to Determine Fair Value of Employee Stock Option Grants and Performance Options with Market Condition	The assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Expected term (in years) 5.98– 6.06 6.02 – 6.07 5.50 – 6.08 5.50 – 6.07 Risk-free interest rate 0.8%-1.1 % 0.3% – 0.4 % 0.6% – 1.1 % 0.3% – 1.5 % Expected volatility 86.3% – 86.9 % 108.0% – 108.1 % 86.3% – 104.8 % 102.2% – 109.7 % Expected dividend yield 0.0 % 0.0 % 0.0 % 0.0 %

Organization, Business, Basis_4

Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Significant Accounting Policies [Line Items]
Net Income Loss	$ (7,667)	$ (6,599)	$ (25,209)	$ (11,292)
Accumulated deficit	(363,737)		(363,737)		$ (338,528)
Cash, cash equivalents and available-for-sale investments	$ 116,400		$ 116,400
Pangu BioPharma [Member] | Hong Kong [Member]
Significant Accounting Policies [Line Items]
Majority-owned subsidiary percentage	98.00%		98.00%

Organization, Business, Basis_5

Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Potentially Dilutive Securities Not Considered for Calculation of Diluted Net Loss Per Share (Detail) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not considered for calculation of diluted net loss per share	1,294,576	598,266
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not considered for calculation of diluted net loss per share	13,760	13,904
Common Stock Options and Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not considered for calculation of diluted net loss per share	1,279,036	582,582
Employee Stock Purchase Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not considered for calculation of diluted net loss per share	1,780	1,780

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 59,435	$ 13,708
Total assets measured at fair value	116,047	28,445
Available-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	56,612	14,737
Available-for-sale [Member] | Short-term Investments | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value		2,219
Available-for-sale [Member] | Short-term Investments | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	27,272	5,494
Available-for-sale [Member] | Short-term Investments | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	27,251	7,024
Available-for-sale [Member] | Short-term Investments | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	2,089
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	59,435	13,708
Total assets measured at fair value	59,435	13,708
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	56,612	14,737
Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	56,612	14,737
Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale [Member] | Short-term Investments | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value		2,219
Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale [Member] | Short-term Investments | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	27,272	5,494
Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale [Member] | Short-term Investments | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	27,251	$ 7,024
Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale [Member] | Short-term Investments | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	$ 2,089

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Available-for-sale Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Gross Amortized Cost	$ 56,631	$ 14,730
Gross Unrealized Gains	3	7
Gross Unrealized Losses	(22)
Market Value	56,612	14,737
Short-term Investments | Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Amortized Cost	27,277	5,491
Gross Unrealized Gains	1	3
Gross Unrealized Losses	(6)
Market Value	27,272	5,494
Short-term Investments | Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Amortized Cost	2,090
Gross Unrealized Losses	(1)
Market Value	2,089
Short-term Investments | Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Amortized Cost	27,264	7,021
Gross Unrealized Gains	2	3
Gross Unrealized Losses	(15)
Market Value	$ 27,251	7,024
Short-term Investments | Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Amortized Cost		2,218
Gross Unrealized Gains		1
Market Value		$ 2,219

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021Position
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale, investments in unrealized loss positions, number of positions	19
Available-for-sale, investments in unrealized loss positions, number of positions, less than twelve months	30
Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investments effective maturity period	2 years

License and Other Agreements -

License and Other Agreements - Additional Information (Detail) - USD ($)	1 Months Ended				3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jan. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment received				$ 8,000,000
Milestone payments received	$ 2,000,000
Hong Kong University of Science and Technology [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Collaborative Agreement Funding Received			$ 750,000
Funding Of Project Cost Description			The grant funded approximately 50% of the total estimated project cost and we contributed the remaining 50%. The research grant agreement between Pangu BioPharma, HKUST and the Government of the Hong Kong Special Administration Region became effective April 1, 2020
Expenses					$ 100,000	$ 100,000	$ 300,000	$ 100,000
Development Regulatory And Sales Milestones [Member] | Kyorin Pharmaceutical Co Ltd [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Remaining receivable based on achievement of research milestones				165,000,000
Research Collaboration and Option Agreement [Member] | Kyorin Pharmaceutical Co Ltd [Member] | Collaboration Revenue [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Milestone payments received	$ 2,000,000
Stand-alone selling price of license		$ 100,000		7,900,000
License and collaboration agreement revenue								$ 8,000,000	$ 2,000,000
Research Collaboration and Option Agreement [Member] | CSL Behring [Member] | Collaboration Revenue [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment received				$ 8,000,000			$ 0

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Payments under Non-cancelable Operating Lease and Reconciliation to Operating Lease Liability (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases Operating [Abstract]
2021	$ 262
2022	1,062
2023	404
Less: Amount representing interest	(122)
Present value of lease payments	1,606
Less: Current portion of operating lease liability	(949)	$ (861)
Long-term operating lease liability, net of current portion	$ 657	$ 1,378

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Instruments [Abstract]
Operating lease, cost	$ 0.2	$ 0.2	$ 0.7	$ 0.7
Operating lease, weighted average remaining lease term	1 year 8 months 12 days		1 year 8 months 12 days
Operating lease, weighted average discount rate	9.60%		9.60%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Feb. 29, 2020	Mar. 22, 2021	Jun. 30, 2021	Sep. 30, 2021	Nov. 30, 2020	Mar. 31, 2020	May 31, 2019
H.C. Wainwright & Co., LLC [Member] | Sale Agreement [Member]
Class Of Stock [Line Items]
Shares issued, price per share				$ 4.99
Aspire Capital [Member]
Class Of Stock [Line Items]
Number of shares issued and sold					3,000,000
Shares issued, price per share					$ 5.09
Gross proceeds from underwritten follow-on public offering, including over-allotment					$ 15,200,000
Long-term purchase commitment, period		30 months
Long-term purchase commitment, description		upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $20.0 million of shares of our common stock at our request from time to time during the 30 month term of the Purchase Agreement.
Aspire Capital [Member] | Maximum [Member]
Class Of Stock [Line Items]
Commitment to purchase shares		$ 20,000,000
Public Offerings
Class Of Stock [Line Items]
Gross proceeds from underwritten follow-on public offering, including over-allotment			$ 18,800,000			$ 80,600,000
A T M Offering Program | Jones Trading Institutional Services LLC [Member]
Class Of Stock [Line Items]
Number of shares issued and sold						986,267
Shares issued, price per share						$ 4.75
Gross proceeds from underwritten follow-on public offering, including over-allotment						$ 4,400,000
Agreed upon value of sale of common stock per transaction	$ 25,000,000
Commission rate equal to gross proceeds	3.00%
A T M Offering Program | H.C. Wainwright & Co., LLC [Member]
Class Of Stock [Line Items]
Number of shares issued and sold	1,657,075
Shares issued, price per share	$ 4.07
Gross proceeds from underwritten follow-on public offering, including over-allotment	$ 6,400,000
Commission rate equal to gross proceeds							3.00%		3.00%
Terminated value of sale of common stock	$ 20,000,000						$ 20,000,000
A T M Offering Program | H.C. Wainwright & Co., LLC [Member] | Sale Agreement [Member] | Maximum [Member]
Class Of Stock [Line Items]
Agreed upon value of sale of common stock per transaction									$ 10,000,000
Common Stock [Member] | H.C. Wainwright & Co., LLC [Member] | Sale Agreement [Member]
Class Of Stock [Line Items]
Number of shares issued and sold				1,988,254
Gross proceeds from underwritten follow-on public offering, including over-allotment				$ 9,600,000
Common Stock [Member] | Public Offerings
Class Of Stock [Line Items]
Number of shares issued and sold			4,235,294			10,781,250
Shares issued, price per share			$ 4.25			$ 8
Issuance of additional share of common stock								635,294

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Common Stock Reserved for Future Issuance (Detail)	Sep. 30, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance	1,788,997
Common Stock Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance	13,760
Common Stock Options and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance	1,279,036
Shares Available Under the 2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance	422,488
Shares Available Under the Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance	73,713

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Option Activity (Detail)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Outstanding Stock Options, Beginning Balance | shares	576,534
Number of Outstanding Stock Options, Granted | shares	749,539
Number of Outstanding Stock Options, Exercised | shares | shares	(10,173)
Number of Outstanding Stock Options, Canceled/forfeited/expired | shares	(44,364)
Number of Outstanding Stock Options, Ending Balance | shares	1,271,536
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 23.33
Weighted Average Exercise Price, Granted | $ / shares	4.48
Weighted Average Exercise Price, Exercised | $ / shares | $ / shares	5.86
Weighted Average Exercise Price, Canceled/forfeited/expired | $ / shares	22.87
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 12.42

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Assumptions Used to Determine Fair Value of Employee Stock Option Grants, Employee Stock Purchase Plan and Performance Options with Market Condition (Detail) - Employee Stock Option [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	0.80%	0.30%	0.60%	0.30%
Risk-free interest rate, maximum	1.10%	0.40%	1.10%	1.50%
Expected volatility, minimum	86.30%	108.00%	86.30%	102.20%
Expected volatility, maximum	86.90%	108.10%	104.80%	109.70%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 11 months 23 days	6 years 7 days	5 years 6 months	5 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 21 days	6 years 25 days	6 years 29 days	6 years 25 days

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of Outstanding Restricted Stock Units, Beginning Balance | shares	7,677
Number of Outstanding Restricted Stock Units, Granted | shares	4,000
Number of Outstanding Restricted Stock Units, Released | shares	(4,177)
Number of Outstanding Restricted Stock Units, Ending Balance | shares	7,500
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 5.32
Weighted Average Grant Date Fair Value, Granted | $ / shares	3.89
Weighted Average Grant Date Fair Value, Released | $ / shares	6.18
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 4.08

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Allocation of Stock-Based Compensation for All Options Employee Stock Purchase Plan and Restricted Stock Units (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 442	$ 324	$ 1,200	$ 1,125
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	70	64	198	194
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 372	$ 260	$ 1,002	$ 931