Larimar Therapeutics (LRMR) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	LRMR
Entity Registrant Name	LARIMAR THERAPEUTICS, INC.
Entity Central Index Key	0001374690
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		17,710,450
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-36510
Entity Tax Identification Number	20-3857670
Entity Address, Address Line One	Three Bala Plaza East
Entity Address, Address Line Two	Suite 506
Entity Address, City or Town	Bala Cynwyd
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19004
City Area Code	844
Local Phone Number	511-9056
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation State Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 19,736	$ 70,097
Marketable debt securities	35,188
Prepaid expenses and other current assets	1,820	2,107
Total current assets	56,744	72,204
Property and equipment, net	986	1,049
Operating lease right-of-use assets	3,134	3,406
Restricted cash	1,339	1,339
Other assets	649	669
Total assets	62,852	78,667
Current liabilities:
Accounts payable	425	1,660
Accrued expenses	6,656	6,592
Operating lease liabilities, current	638	594
Total current liabilities	7,719	8,846
Operating lease liabilities	5,077	5,408
Total liabilities	12,796	14,254
Commitments and contingencies (See Note 9)
Stockholders’ equity:
Preferred stock; $0.001 par value per share; 5,000,000 shares authorized as of June 30, 2022 and December 31, 2021; no shares issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value per share; 115,000,000 shares authorized as of June 30, 2022 and December 31, 2021;17,710,450 shares issued and outstanding as of June 30, 2022 and December 31, 2021	18	18
Additional paid-in capital	183,955	180,645
Accumulated deficit	(133,860)	(116,250)
Accumulated other comprehensive loss	(57)
Total stockholders’ equity	50,056	64,413
Total liabilities and stockholders’ equity	$ 62,852	$ 78,667

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	115,000,000	115,000,000
Common stock, shares issued	17,710,450	17,710,450
Common stock, shares outstanding	17,710,450	17,710,450

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Research and development	$ 5,644	$ 9,102	$ 11,450	$ 18,076
General and administrative	3,043	3,441	6,124	6,573
Total operating expenses	8,687	12,543	17,574	24,649
Loss from operations	(8,687)	(12,543)	(17,574)	(24,649)
Other income (expense), net	20	(66)	(36)	(48)
Net loss	$ (8,667)	$ (12,609)	$ (17,610)	$ (24,697)
Net loss per share, basic	$ (0.47)	$ (0.79)	$ (0.96)	$ (1.54)
Net loss per share, diluted	$ (0.47)	$ (0.79)	$ (0.96)	$ (1.54)
Weighted average common shares outstanding, basic	18,338,853	15,996,133	18,338,853	15,996,133
Weighted average common shares outstanding, diluted	18,338,853	15,996,133	18,338,853	15,996,133
Comprehensive loss:
Net loss	$ (8,667)	$ (12,609)	$ (17,610)	$ (24,697)
Other comprehensive loss:
Unrealized loss on marketable debt securities	(57)		(57)
Total other comprehensive loss	(57)		(57)
Total comprehensive loss	$ (8,724)	$ (12,609)	$ (17,667)	$ (24,697)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Gain (Loss) [Member]
Beginning balance at Dec. 31, 2020	$ 89,692	$ 15	$ 155,290	$ (65,614)	$ 1
Beginning balance, shares at Dec. 31, 2020		15,367,730
Stock-based compensation expense	1,180		1,180
Net loss	(12,088)			(12,088)
Ending balance at Mar. 31, 2021	78,784	$ 15	156,470	(77,702)	1
Ending balance, shares at Mar. 31, 2021		15,367,730
Beginning balance at Dec. 31, 2020	89,692	$ 15	155,290	(65,614)	1
Beginning balance, shares at Dec. 31, 2020		15,367,730
Net loss	(24,697)
Ending balance at Jun. 30, 2021	67,525	$ 15	157,820	(90,311)	1
Ending balance, shares at Jun. 30, 2021		15,367,730
Beginning balance at Mar. 31, 2021	78,784	$ 15	156,470	(77,702)	1
Beginning balance, shares at Mar. 31, 2021		15,367,730
Stock-based compensation expense	1,350		1,350
Net loss	(12,609)			(12,609)
Ending balance at Jun. 30, 2021	67,525	$ 15	157,820	(90,311)	1
Ending balance, shares at Jun. 30, 2021		15,367,730
Beginning balance at Dec. 31, 2021	64,413	$ 18	180,645	(116,250)
Beginning balance, shares at Dec. 31, 2021		17,710,450
Stock-based compensation expense	1,635		1,635
Net loss	(8,943)			(8,943)
Ending balance at Mar. 31, 2022	57,105	$ 18	182,280	(125,193)
Ending balance, shares at Mar. 31, 2022		17,710,450
Beginning balance at Dec. 31, 2021	64,413	$ 18	180,645	(116,250)
Beginning balance, shares at Dec. 31, 2021		17,710,450
Unrealized loss on marketable debt securities	(57)
Net loss	(17,610)
Ending balance at Jun. 30, 2022	50,056	$ 18	183,955	(133,860)	(57)
Ending balance, shares at Jun. 30, 2022		17,710,450
Beginning balance at Mar. 31, 2022	57,105	$ 18	182,280	(125,193)
Beginning balance, shares at Mar. 31, 2022		17,710,450
Stock-based compensation expense	1,675		1,675
Unrealized loss on marketable debt securities	(57)				(57)
Net loss	(8,667)			(8,667)
Ending balance at Jun. 30, 2022	$ 50,056	$ 18	$ 183,955	$ (133,860)	$ (57)
Ending balance, shares at Jun. 30, 2022		17,710,450

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (17,610)	$ (24,697)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	3,310	2,530
Loss on disposal of fixed asset		5
Depreciation expense	163	150
Amortization of premium on marketable securities	(3)	(11)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	287	1,908
Accounts payable	(1,235)	(1,466)
Accrued expenses	64	(168)
Right-of-use assets	272	263
Operating lease liabilities	(287)	(249)
Other assets	20	(253)
Net cash used in operating activities:	(15,019)	(21,988)
Cash flows from investing activities:
Purchase of property and equipment	(100)	(31)
Purchase of marketable debt securities	(35,242)	(1,749)
Maturities and sales of marketable debt securities		26,250
Net cash provided by (used in) investing activities	(35,342)	24,470
Cash flows from financing activities:
Net increase in cash, cash equivalents and restricted cash	(50,361)	2,482
Cash, cash equivalents and restricted cash at beginning of period	71,436	69,487
Cash, cash equivalents and restricted cash at end of period	$ 21,075	71,969
Supplemental disclosure of non-cash investing and financing activities:
Property and equipment included in accounts payable and accrued expenses		$ 295

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	1. Description of Business and Basis of Presentation Larimar Therapeutics, Inc., together with its subsidiary (the “Company” or “Larimar”), is a clinical-stage biotechnology company focused on developing treatments for patients suffering from complex rare diseases using its novel cell penetrating peptide technology platform. Larimar's lead product candidate, CTI-1601, is a subcutaneously administered, recombinant fusion protein intended to deliver human frataxin ("FXN") an essential protein, to the mitochondria of patients with Friedreich’s ataxia. Friedreich’s ataxia is a rare, progressive and fatal disease in which patients are unable to produce sufficient FXN due to a genetic abnormality. In May 2021, Larimar reported positive topline data from its Phase 1 Friedreich’s ataxia, ("FA") program after completing dosing of the single ascending dose, ("SAD"), trial in December 2020 and of the multiple ascending dose, ("MAD"), trial in March 2021. Also in May 2021, the FDA placed a clinical hold on the Company's CTI-1601 clinical program after the Company notified the agency of mortalities at the highest dose levels of the 26-week non-human primate toxicology study that was designed to support extended dosing of patients with CTI-1601. At the time the hold was placed, Larimar had no interventional clinical trials with patients enrolling or enrolled. In February 2022, in response to the Company's complete response to the clinical hold discussed above, the Agency stated that it was maintaining the clinical hold and that additional data are needed to resolve the clinical hold. Larimar subsequently submitted a request for an FDA Type C meeting. In the third quarter of 2022, the Company and the FDA had a Type-C meeting. The purpose of the Type C Meeting was to obtain FDA feedback on the information needed to resolve CTI-1601's current clinical hold in full or in part, as well as to discuss a proposed change in CTI-1601’s clinical development plan to introduce a Phase 2 dose exploration study to precede initiation of an open label extension study. The Company plans to submit a complete response to the CTI-1601 clinical hold later in the third quarter of 2022. In conjunction with the complete response, Larimar is proposing as CTI-1601’s next clinical trial a Phase 2, four-week dose exploration study in FA patients starting at the lower dose levels tested in the Company’s Phase 1 multiple-ascending dose clinical trial. This study will provide data on extended dosing of lower doses of CTI-1601, providing insights into safety and tolerability as well as whether lower doses for longer periods of time can increase frataxin levels, while still maintaining acceptable exposures. Throughout the course of the interactions with the FDA, Larimar intends to continue to work with the Agency to enable resolution of the clinical hold and to agree on the study design and timing of the next proposed clinical trial. Larimar does not know when, or if the clinical hold will be lifted. The Company is subject to risks and uncertainties common to pre-commercial companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with governmental regulations, failure to secure regulatory approval for its drug candidates or any other product candidates and the ability to secure additional capital to fund its operations. Drug candidates currently under development will require extensive non-clinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel, and infrastructure and extensive compliance-reporting capabilities. Even if our drug development efforts are successful, it is uncertain when, if ever, we will realize significant revenue from product sales. In late 2019, an outbreak of a novel strain of the Coronavirus 2019 Disease (COVID-19) was identified and infections have been found in a number of countries around the world, including the United States. The Company’s business, results of operations, financial condition and cash flows could be materially and adversely affected. Specifically, the Company could experience additional delays in future clinical trial timelines as a result of additional travel and hospital restrictions related to the COVID-19 pandemic and the efforts to mitigate it which may be imposed or could experience supply shortages or manufacturer shutdowns impacting the manufacture of drug substance or drug product, which could also impact clinical trial timelines. The condensed consolidated financial statements do not reflect any adjustments as a result of the pandemic. Basis of Presentation The condensed consolidated financial statements include the accounts of Larimar and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated. The accompanying condensed consolidated financial statements have been prepared in conformity with GAAP. Going Concern Assessment The Company’s condensed consolidated financial statements have been presented on the basis that it will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since its inception, the Company has incurred significant recurring operating losses and negative cash flows from operations. The Company has incurred net losses of $ 17.6 million and $ 24.7 million for the six months ended June 30, 2022 and 2021, respectively. In addition, as of June 30, 2022, the Company had an accumulated deficit of $ 133.9 million . The Company expects to continue to generate operating losses for the foreseeable future. As of June 30, 2022, the Company had approximately $ 54.9 million of cash, cash equivalents and marketable debt securities available for use to fund its operations and capital requirements. In August 2020, the Company entered into an Equity Distribution Agreement (the “ATM Agreement”) with an investment bank in connection with the establishment of an “at-the-market” offering program under which the Company could sell up to an aggregate of $ 50,000,000 of shares of its common stock from time to time through this investment bank as sales agent. In 2021, the Company sold 2,342,720 shares pursuant to the ATM Agreement for gross proceeds of $ 20.5 million. As of June 30, 2022, $ 29.2 million of additional shares of common stock remained available for sale by the Company under the ATM Agreement. See Note 7 for a further discussion of the ATM Agreement. In accordance with Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, the Company has evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the condensed consolidated financial statements are issued. As of the issuance date of these condensed consolidated financial statements, the Company expects its cash, cash equivalents and marketable debt securities will be sufficient to fund its forecasted operating expenses and capital expenditure requirements, for at least twelve months from the issuance of these financial statements. If the timing of our clinical assumptions were delayed or if there were other forecasted assumption changes that negatively impact our operating plan, the Company could reduce expenditures in order to further extend cash resources. The Company has not yet commercialized any products and does not expect to generate revenue from the commercial sale of any products for several years, if at all. The Company expects that its research and development and general and administrative expenses will continue to increase and, as a result, it will need additional capital to fund its future operating and capital requirements. Until the Company can generate substantial revenue, if ever, management continuously evaluates different strategies to obtain the required funding for future operations. These strategies include seeking additional funding through a combination of public or private equity offerings, debt financings, collaborations and licensing arrangements or other sources. The incurrence of indebtedness would result in increased fixed payment obligations and the Company may be required to agree to certain restrictive covenants, such as limitations on its ability to incur additional debt, limitations on its ability to acquire, sell or license intellectual property rights, minimum required cash balances and other operating restrictions that could adversely impact the Company's ability to conduct its business. Any additional fundraising efforts may divert the Company's management from their day-to-day activities, which may adversely affect its ability to develop and commercialize our product candidates. There can be no assurance that the Company will be able to raise sufficient additional capital on acceptable terms, if at all. If such additional financing is not available on satisfactory terms, or is not available in sufficient amounts, or if the Company does not have sufficient authorized shares, the Company may be required to delay, limit, or eliminate the development of business opportunities and its ability to achieve its business objectives, its competitiveness, and its business, financial condition, and results of operations will be materially adversely affected. The Company could also be required to seek funds through arrangements with collaborative partners or otherwise at an earlier stage than otherwise would be desirable and it may be required to relinquish rights to some of its technologies or product candidates or otherwise agree to terms unfavorable to it, any of which may have a material adverse effect on the Company's business, operating results and prospects. In addition, geopolitical unrest including the potential impact of the Russian invasion of Ukraine, the possibility that the conflict could expand beyond eastern Europe, the impact of the COVID-19 pandemic and/or other health crises on the global financial markets may reduce the Company's ability to access capital, which could negatively affect its liquidity and ability to continue as a going concern. If the Company is unable to obtain funding when needed and/or on acceptable terms, the Company may be required to significantly curtail, delay or discontinue one or more of its research and development programs, the manufacture of clinical and commercial supplies, product portfolio expansion or pre commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Unaudited Interim Financial Information The condensed consolidated balance sheet as of December 31, 2021 was derived from the Company’s audited financial statements but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021, have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2022. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s condensed consolidated financial position as of June 30, 2022, condensed consolidated results of operations for the three and six months ended June 30, 2022 and condensed consolidated statement of cash flows for the six months ended June 30, 2022 have been made. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2022 . Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expense, valuation of stock-based awards and valuation of leases. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. Research and Development Costs Costs associated with internal research and development and external research and development services, including drug development, clinical studies and non-clinical studies, are expensed as incurred. Research and development expenses include costs for salaries, employee benefits, subcontractors, facility-related expenses, depreciation, stock-based compensation, third-party license fees, laboratory supplies, and external costs of outside vendors engaged to conduct discovery, non-clinical and clinical development activities, and clinical trials as well as to manufacture clinical trial materials, and other costs. The Company recognizes external research and development costs based on an evaluation of the progress to completion of specific tasks using information provided to the Company by its service providers. Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are recorded as prepaid expenses. Such prepaid expenses are recognized as an expense when the goods have been delivered or the related services have been performed, or when it is no longer expected that the goods will be delivered, or the services rendered. Upfront payments, milestone payments and annual maintenance fees under license agreements are currently expensed in the period in which they are incurred. Patent Costs All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses. Stock-Based Compensation The Company measures all stock-based awards granted to employees, directors and non-employee consultants based on the fair value on the date of grant using the Black-Scholes option-pricing model. Compensation expense of those awards is recognized over the requisite service period, which is the vesting period of the respective award. Typically, the Company issues awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. The Company accounts for forfeitures as they occur. The Company classifies stock-based compensation expense in its condensed consolidated statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified. Prior to May 28, 2020, the Company had been a private company and lacked company-specific historical and implied volatility information for its common stock. Therefore, the Company estimates its expected common stock price volatility based on the historical volatility of publicly traded peer companies and expects to continue to do so until it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield considers the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. Net Loss Per Share Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Basic shares outstanding includes the weighted average effect of the Company’s prefunded warrants issued in June 2020, the exercise of which requires little or no consideration for the delivery of shares of common stock. Basic and diluted weighted average shares of common stock outstanding for the three and six months ended June 30, 2022 and 2021 includes the weighted average effect of 628,403 prefunded warrants for the purchase of shares of common stock, for which the remaining unfunded exercise price is $ 0.01 per share. Diluted net loss per share attributable to common stockholders is computed by dividing the diluted net loss attributable to common stockholders by the weighted average number of common shares, including potentially dilutive common shares assuming the dilutive effect of outstanding stock options and unvested restricted common shares, as determined using the treasury stock method. For periods in which the Company has reported net losses, diluted net loss per common share attributable to common stockholders is the same as basic net loss per common share attributable to common stockholders, since dilutive common shares are not assumed to have been issued if their effect is antidilutive. The Company excluded 3,130,370 and 2,546,962 common stock equivalents outstanding as of June 30, 2022 and 2021, respectively, from the computation of diluted net loss per share for the three and six months ended June 30, 2022 and 2021 because they had an anti-dilutive impact due to the net loss incurred for the periods presented. Recently Issued and Adopted Accounting Pronouncements From time to time, new accounting guidance is issued by the FASB or other standard setting bodies that is adopted by us as of the effective date or, in some cases where early adoption is permitted, in advance of the effective date. We have assessed the recently issued guidance that is not yet effective and believe the new guidance will not have a material impact on the condensed consolidated results of operations, cash flows or financial position.

Fair Value Measurements and Mar

Fair Value Measurements and Marketable Debt Securities	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Marketable Debt Securities	3. Fair Value Measurements and Marketable Debt Securities Fair Value Measurements The Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 are measured in accordance with the standards of ASC 820, Fair Value Measurements and Disclosures , which establishes a three-level valuation hierarchy for measuring fair value and expands financial statement disclosures about fair value measurements. The valuation hierarchy is based on the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level – 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level – 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level – 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company’s financial instruments consist primarily of cash, cash equivalents, marketable debt securities, accounts payable and accrued liabilities. For accounts payable and accrued liabilities, the carrying amounts of these financial instruments as of June 30, 2022 and December 31, 2021 were considered representative of their fair values due to their short term to maturity. The following tables summarize the Company’s cash equivalents and marketable debt securities as of June 30, 2022 and cash equivalents as of December 31, 2021: Total Quoted Significant Significant (in thousands) June 30, 2022 Cash equivalents: Money market funds $ 17,678 17,678 Total cash equivalents 17,678 17,678 — — Marketable debt securities: U.S. Government securities 35,188 — 35,188 Total marketable debt securities 35,188 — 35,188 — Total cash equivalents and marketable debt securities $ 52,866 $ 17,678 $ 35,188 $ — December 31, 2021 Cash equivalents: Money market funds $ 6,137 $ 6,137 $ — $ — Commercial paper 7,549 7,549 — — Corporate bonds 1,219 1,219 — — Total cash equivalents 14,905 14,905 — — The accrued interest receivable related to the Company’s investments was $ 0.1 million as of June 30, 2022 and is included in prepaid expenses and other current assets on the condensed consolidated balance sheet. There was no accrued interest receivable and December 31, 2021. The Company classifies its money market funds which are valued based on quoted market prices in active markets with no valuation adjustment, as Level 1 assets within the fair value hierarchy. The Company classifies its investments in U.S. treasury securities corporate commercial paper, and corporate debt securities as Level 2 assets within the fair value hierarchy. The fair values of these investments are estimated by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data and other observable inputs As of June 30, 2022 and December 31, 2021, the unrealized losses for available-for-sale investments were non-credit related, and the Company does not intend to sell the investments that were in an unrealized loss position, nor will it be required to sell those investments before recovery of their amortized cost basis, which may be maturity. As of June 30, 2022 and December 31, 2021, no allowances for credit losses for the Company’s investments were recorded. During the three and six months ended June 30, 2022 and 2021, the Company did no t recognize any impairment losses related to investments. Marketable Debt Securities The following table summarizes the Company's marketable debt securities as of June 30, 2022 . The Company held no marketable debt securities as of December 31, 2021. Amortized Gross Gross Fair Value (in thousands) June 30, 2022 Assets: U.S. Government securities $ 35,245 — ( 57 ) $ 35,188 $ 35,245 $ — $ ( 57 ) $ 35,188

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid Expenses and Other Current Assets	4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: June 30, December 31, 2022 2021 (in thousands) Prepaid research and development expenses $ 1,031 $ 676 Prepaid insurance 186 944 Payroll tax receivable 237 208 Other prepaid expenses and other assets 366 279 $ 1,820 $ 2,107

Fixed Assets

Fixed Assets	6 Months Ended
	Jun. 30, 2022
Assets [Abstract]
Fixed Assets	5. Fixed Assets Fixed assets, net consisted of the following: June 30, December 31, Useful Life 2022 2021 (in thousands) Computer equipment 5 years $ 66 $ 66 Lab equipment 5 years 1,192 1,092 Furniture and fixtures 7 years 456 456 Leasehold improvements lease term 31 31 1,745 1,645 Less: Accumulated depreciation ( 759 ) ( 596 ) $ 986 $ 1,049 Depreciation expense during the three and six months ended June 30, 2022 was $ 0.1 million, respectively. Depreciation expense during the three and six months ended June 30, 2021 was $ 0.1 million and $ 0.2 million, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	6. Accrued Expenses June 30, December 31, 2022 2021 (in thousands) Accrued research and development expenses $ 5,135 $ 5,042 Accrued payroll and related expenses 1,002 1,098 Accrued other 519 452 $ 6,656 $ 6,592

Stockholders' Equity and Stock

Stockholders' Equity and Stock Options	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Stock Options	7. Stockholders’ Equity and Stock Options Common Stock and Prefunded Warrants As of June 30, 2022 , the Company’s Certificate of Incorporation, as amended and restated, authorized the Company to issue up to 115,000,000 shares of $ 0.001 par value common stock, of which 17,710,450 shares were issued and outstanding, and up to 5,000,000 shares of $ 0.001 par value undesignated preferred stock, of which no shares were issued or outstanding. The voting, dividend, and liquidation rights of the holders of the Company’s common stock are subject to and qualified by the rights, powers, and preferences of the holders of the preferred stock. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders . Common stockholders are entitled to receive dividends, as may be declared by the board of directors of the Company (the “Board”), if any. No cash dividends have been declared or paid to date. On May 28, 2020, the Company entered into a securities purchase agreement with certain accredited investors (the “Purchasers”) for the sale by the Company in a private placement of 6,105,359 shares of the Company’s common stock and prefunded warrants to purchase an aggregate of 628,403 shares of the Company’s common stock, for a price of $ 11.88 per share of the common stock and $ 11.87 per prefunded warrant. The prefunded warrants are exercisable at an exercise price of $ 0.01 and are exercisable indefinitely. The Purchasers may exercise the prefunded warrants on a cashless basis in the event that there is no effective registration statement covering the resale of the shares of common stock underlying the prefunded warrants on the date in which the Company is required to deliver the shares. The private placement closed on June 1, 2020. The aggregate gross proceeds for the issuance and sale of the common stock and prefunded warrants were $ 80.0 million; transaction costs totaled $ 4.6 million and resulted in net proceeds of $ 75.4 million. The Company’s Registration Statement on Form S-3, filed with the SEC on June 26, 2020, registered the resale of 6,105,359 shares of common stock sold and the 628,403 shares of common stock underlying the prefunded warrants. MTS Health Partners served as placement agent to the Company in connection with the private placement. As partial compensation for these services, the Company issued MTS Health Partners 35,260 shares of common stock. Equity Distribution Agreement On August 14, 2020, the Company entered into the ATM Agreement with an investment bank in connection with the establishment of an “at-the-market” offering program under which the Company may sell up to an aggregate of $ 50,000,000 of shares of common stock (the “ATM Shares”) from time to time (the “Offering”). Under the ATM Agreement, the Company sets the parameters for the sale of ATM Shares, including the number of ATM Shares to be issued, the time period during which sales are requested to be made, limitations on the number of ATM Shares that may be sold in any one trading day and any minimum price below which sales may not be made. Sales of the ATM Shares, if any, under the ATM Agreement may be made in transactions that are deemed to be “at-the-market offerings” as defined in Rule 415 under the Securities Act. The Company pays its investment bank a commission equal to 3.0 % of the gross proceeds of any ATM Shares sold through its investment bank under the ATM Agreement and reimburses the investment bank for certain specified expenses. The ATM Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and its investment bank, other customary obligations of the parties and termination provisions. The Company has no obligation to sell any of the ATM Shares and may at any time suspend offers under the ATM Agreement . In 2021, the Company sold 2,342,720 shares under the ATM Agreement for net proceeds of $ 19.9 million. As of June 30, 2022 , 2,354,244 shares of Common Stock have been sold under the ATM Agreement for net proceeds of $ 20.1 million. As of June 30, 2022, approximately $ 29.2 million shares of common stock still remained available for sale by the Company under the ATM Agreement. 2020 Equity Incentive Plan The Board adopted the 2020 Equity Incentive Plan (the "2020 Plan") on July 16, 2020 and the stockholders of the Company approved the 2020 Plan on September 29, 2020. The 2020 Plan replaces the predecessor plans (the "Prior Plans") that the Company assumed following its merger with Zafgen, Inc. ("Zafgen") in May 2020. Options outstanding under the Prior Plans will remain outstanding, unchanged, and subject to the terms of the Prior Plans and the respective award agreements, and no further awards will be made under the Prior Plans. However, if any award previously granted under the Prior Plans, expires, terminates, is canceled, or is forfeited for any reason after the approval of the 2020 Plan, the shares subject to that award will be added to the 2020 Plan share pool so that they can be utilized for new grants under the 2020 Plan. The 2020 Plan provides for the grant of incentive stock options (“ISOs”), nonstatutory stock options (“NSOs”), stock appreciation rights, restricted stock awards, restricted stock unit awards, and cash or other stock-based awards. ISOs may be granted only to the Company’s employees, including the Company’s officers, and the employees of the Company’s affiliates. All other awards may be granted to the Company’s employees, including the Company’s officers, the Company’s non-employee directors and consultants, and the employees and consultants of the Company’s affiliates. The maximum number of shares that may be issued in respect of any awards under the 2020 Plan is the sum of: (i) 1,700,000 shares plus (ii) an annual increase on January 1, 2021 and each anniversary of such date thereafter through January 1, 2030, equal to the lesser of (A) 4 % of the shares issued and outstanding on the last day of the immediately preceding fiscal year, or (B) such smaller number of shares as determined by the Board (collectively, the “Plan Limit”). The maximum aggregate number of shares that may be issued under the 2020 Plan is 8,000,000 over the ten-year term of the 2020 Plan. During the six months ended June 30, 2022 and twelve months ended December 31, 2021, respectively, options to purchase 130,308 and 56,966 shares issued under the Prior Plans were cancelled and became available for grant under the 2020 Plan. As permitted by the 2020 Plan, the Company added 614,709 and 708,418 shares available for grant to the 2020 Plan on January 1, 2021 and January 1, 2022, respectively. As of June 30, 2022 , 998,301 shares of common stock were available for grant under the 2020 Plan. Stock Valuation The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees: June 30, December 31, 2022 2021 Risk-free interest rate 2.11 % 0.89 % Expected term (in years) 6.21 6.19 Expected volatility 89 % 91 % Dividend yield 0.00 % 0.00 % Stock Options The following table summarizes the Company’s stock option activity for the six months ended June 30, 2022 (amounts in millions, except for share and per share data): Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value (a) Shares Price Term (in years) (in millions) Outstanding as of December 31, 2021 2,523,305 $ 18.88 7.6 Granted 852,450 7.08 Forfeited/Expired ( 245,385 ) 61.54 Outstanding as of June 30, 2022 3,130,370 $ 12.32 8.3 $ — Exercisable as of June 30, 2022 1,201,628 $ 14.98 7.4 $ — Vested and expected to vest as of June 30, 2022 3,130,370 $ 12.32 8.3 $ — (a) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the common stock for the options that were "in the money" at June 30, 2022 . At June 30, 2022, none of the Company's stock options were "in the money." 2022 Option Grants During the six months ended June 30, 2022 , the Company granted options to purchase 852,450 shares of common stock to employees and directors of the Company under the 2020 Plan. The options have an exercise price equal to the closing stock price as of the grant date. Of the 852,450 options granted in 2022, 810,950 were granted to employees and vest over four years with 25 % vesting on the first anniversary of the grant and the remainder vesting in equal monthly installments thereafter. The remaining 41,500 options were annual grants to the Company's directors and vest one year from the grant date. The weighted-average grant date fair value of options granted during the six months ended June 30, 2022 was $ 5.31 . Stock-Based Compensation Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development $ 694 $ 515 $ 1,349 $ 953 General and administrative 981 835 1,961 1,577 $ 1,675 $ 1,350 $ 3,310 $ 2,530 As of June 30, 2022 , total unrecognized compensation expense related to unvested stock options was $ 15.7 million, which is expected to be recognized over a weighted average period of 2.47 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Intellectual Property Licenses The Company is party to an exclusive License Agreement (the “WFUHS License”), dated November 30, 2016 with Wake Forest University Health Sciences (“WFUHS”) and an exclusive License Agreement (the “IU License”), dated November 30, 2016, as amended, with Indiana University (“IU”). Such agreements provide for a transferable, worldwide license to certain patent rights regarding technology used by the Company with respect to the development of CTI-1601. In partial consideration for the right and license granted under these agreements, the Company will pay each of WFUHS and IU a royalty of a low single digit percentage of net sales of licensed products depending on whether there is a valid patent covering such products. As additional consideration for these agreements, the Company is obligated to pay each of WFUHS and IU certain milestone payments of up to $ 2.6 million in the aggregate upon the achievement of certain developmental milestones, commencing on the enrollment of the first patient in a Phase 1 clinical trial. The Company enrolled the first patient in its SAD trial on December 11, 2019 and paid WFUHS and IU less than $ 0.1 million. The Company will also pay each of WFUHS and IU sublicensing fees ranging from a high-single digit to a low double-digit percentage of sublicense consideration depending on the Company’s achievement of certain regulatory milestones as of the time of receipt of the sublicense consideration. The Company is also obligated to reimburse WFUHS and IU for patent-related expenses. In the event that the Company disputes the validity of any of the licensed patents, the royalty rate would be tripled during such dispute. The Company is also obligated to pay to IU a minimum annual royalty of less than $ 0.1 million per annum starting in the 2020 calendar year for the term of the agreement. In the event that the Company is required to pay IU consideration, then the Company may deduct 20 % of such IU consideration on a dollar-for-dollar basis from the consideration due to WFUHS. In the event that the Company is required to pay WFUHS consideration, then the Company may deduct 60 % of such WFUHS consideration on a dollar-for-dollar basis from the consideration due to IU. During the three and six months ended June 30, 2022 , no milestones were achieved and no milestone expense was recognized. Both agreements continue from their effective date through the last to expire of the licensed patents unless earlier terminated by either party in accordance with their terms. Leases On August 8, 2019, the Company entered into an operating lease for office space in Bala Cynwyd, Pennsylvania, effective as of December 15, 2019, for a period of three years and six months with an option to extend the lease for three additional years. Due to required tenant improvements to be completed by the landlord, the Company did not take immediate possession of the leased property and the lease term commenced on February 15, 2020 . On May 28, 2020, the Company acquired a non-cancellable operating lease for approximately 17,705 square feet of office space (the “Premises”). The lease expires on October 30, 2029 . As part of the agreement, the Company is required to maintain a letter of credit, which upon signing was $ 1.3 million and is classified as restricted cash within the condensed consolidated financial statements. In addition to the base rent, the Company is also responsible for its share of operating expenses, electricity and real estate taxes, which costs are not included in the determination of the leases’ right-of-use assets or lease liabilities. The right-of-use asset is being amortized to other income/(expense) over the remaining lease term as a result of the sublease described below. On October 27, 2020, the Company entered into a sublease agreement (the “Sublease”) with Massachusetts Municipal Association, Inc. (the “Subtenant”), whereby the Company sublet the entire Premises to the Subtenant. The initial term of the Sublease commenced on December 4, 2020 and continues until October 30, 2029 . In connection with the Sublease, the Company evaluated the need for impairment under ASC 360 and determined there was no impairment. The Sublease provided for an initial annual base rent of $ 0.8 million, which increases annually up to a maximum annual base rent of $ 1.0 million. The Subtenant also is responsible for paying to the Company future increases in operating costs (commencing on January 1, 2022), future increases in annual tax costs (commencing July 1, 2021) and all utility costs (commencing March 1, 2021) attributable to the Premises during the term of the Sublease. As part of the Sublease, the subtenant deposited a letter of credit in the amount of $ 0.8 million to assure their performance under the sublease. If there are no uncured events of default under the sublease, the amount of this security deposit decreases over time to $ 0.4 million on the sixth anniversary of the Sublease. The Company records sublease income on this sublease on a straight-line basis as a component of other income/(expense). On November 5, 2018, the Company entered into an operating lease for office and lab space in Philadelphia, Pennsylvania, effective as of January 1, 2019 , and expiring on December 31, 2020 with an option to extend the lease for two additional years. On August 4, 2020, the Company executed the first option to extend the lease for an additional year, expiring on December 31, 2021 . On August 9, 2021, the Company executed the remaining option to extend the lease for an additional year, expiring on December 31, 2022 . The Company has determined this lease extension qualifies as a short-term lease and have applied the accounting policy election to not record the related right-of-use asset and lease liabilities. Expense arising from operating leases was $ 0.1 million and $ 0.2 million during the three and six months ended June 30, 2022 and $ 0.1 million during the three and six months ended June 30, 2021, respectively. For operating leases, the weighted-average remaining lease term for leases at June 30, 2022 and December 31, 2021 was 7.2 and 7.6 years, respectively. For operating leases, the weighted average discount rate for leases at June 30, 2022 and December 31, 2021 was 11.0 %. The Company has not entered into any financing leases. Maturities of lease liabilities due under these lease agreements as of June 30, 2022 are as follows: Operating (in thousands) Leases Six months ending December 31, 2022 $ 600 Year ended December 31, 2023 1,146 Year ended December 31, 2024 1,065 Year ended December 31, 2025 1,083 Year ended December 31, 2026 1,101 Thereafter 3,213 Total lease payments 8,208 Less: imputed interest ( 2,493 ) Present value of lease liabilities $ 5,715 Legal Proceedings The Company is not currently a party to any litigation, nor is management aware of any pending or threatened litigation against the Company, that it believes would materially affect the Company's business, operating results, financial condition or cash flows.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions In November 2016, the Company entered into a consulting agreement with Mark Payne, M.D (the “Consulting Engagement”). Dr. Payne was a director of Chondrial at that time, a full-time employee of IU and one of the inventors of the licensed IU intellectual property, and as such is entitled to a certain share of the revenues received by IU under the IU License. Pursuant to the terms of his consulting agreement the Company agreed to pay Dr. Payne $ 0.1 million per year over the term of the agreement and granted Dr. Payne 123,853 restricted Common Units in Chondrial Holdings, LLC, the sole investor in Chondrial Therapeutics which merged into the Company in May of 2020 ("Holdings") . On November 30, 2016, 30 % immediately vested and was associated with Chondrial Therapeutics IP, LLC (“IP LLC”) becoming a subsidiary of Holdings, which was subsequently contributed to the Company on December 31, 2018. The remaining 70 % vested ratably over 48 months beginning on December 1, 2016 and were fully vested as of December 31, 2020. The consulting agreement has a four-year term, subject to earlier termination. On November 30, 2020, The Company entered into a 1 -month extension of the Consulting Engagement, expiring on December 31, 2020 and on January 1, 2021, the Company entered into a new consulting agreement with Dr. Payne which extended the term of the Consulting Engagement for a four-year term beginning on January 1, 2021. During the three and six months ended June 30, 2022 and 2021 the Company recognized less than $ 0.1 million and $ 0.1 million, respectively, related to this consulting agreement, recorded as research and development expense in the Condensed Consolidated Statements of Operations. During 2021, the Company purchased a piece of laboratory equipment and lab supplies for a cumulative $ 0.1 million from a supplier of which one of the Company's directors is also a current director.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Larimar and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated. The accompanying condensed consolidated financial statements have been prepared in conformity with GAAP. Unaudited Interim Financial Information The condensed consolidated balance sheet as of December 31, 2021 was derived from the Company’s audited financial statements but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021, have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2022. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s condensed consolidated financial position as of June 30, 2022, condensed consolidated results of operations for the three and six months ended June 30, 2022 and condensed consolidated statement of cash flows for the six months ended June 30, 2022 have been made. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2022 .
Going Concern Assessment	Going Concern Assessment The Company’s condensed consolidated financial statements have been presented on the basis that it will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since its inception, the Company has incurred significant recurring operating losses and negative cash flows from operations. The Company has incurred net losses of $ 17.6 million and $ 24.7 million for the six months ended June 30, 2022 and 2021, respectively. In addition, as of June 30, 2022, the Company had an accumulated deficit of $ 133.9 million . The Company expects to continue to generate operating losses for the foreseeable future. As of June 30, 2022, the Company had approximately $ 54.9 million of cash, cash equivalents and marketable debt securities available for use to fund its operations and capital requirements. In August 2020, the Company entered into an Equity Distribution Agreement (the “ATM Agreement”) with an investment bank in connection with the establishment of an “at-the-market” offering program under which the Company could sell up to an aggregate of $ 50,000,000 of shares of its common stock from time to time through this investment bank as sales agent. In 2021, the Company sold 2,342,720 shares pursuant to the ATM Agreement for gross proceeds of $ 20.5 million. As of June 30, 2022, $ 29.2 million of additional shares of common stock remained available for sale by the Company under the ATM Agreement. See Note 7 for a further discussion of the ATM Agreement. In accordance with Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, the Company has evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the condensed consolidated financial statements are issued. As of the issuance date of these condensed consolidated financial statements, the Company expects its cash, cash equivalents and marketable debt securities will be sufficient to fund its forecasted operating expenses and capital expenditure requirements, for at least twelve months from the issuance of these financial statements. If the timing of our clinical assumptions were delayed or if there were other forecasted assumption changes that negatively impact our operating plan, the Company could reduce expenditures in order to further extend cash resources. The Company has not yet commercialized any products and does not expect to generate revenue from the commercial sale of any products for several years, if at all. The Company expects that its research and development and general and administrative expenses will continue to increase and, as a result, it will need additional capital to fund its future operating and capital requirements. Until the Company can generate substantial revenue, if ever, management continuously evaluates different strategies to obtain the required funding for future operations. These strategies include seeking additional funding through a combination of public or private equity offerings, debt financings, collaborations and licensing arrangements or other sources. The incurrence of indebtedness would result in increased fixed payment obligations and the Company may be required to agree to certain restrictive covenants, such as limitations on its ability to incur additional debt, limitations on its ability to acquire, sell or license intellectual property rights, minimum required cash balances and other operating restrictions that could adversely impact the Company's ability to conduct its business. Any additional fundraising efforts may divert the Company's management from their day-to-day activities, which may adversely affect its ability to develop and commercialize our product candidates. There can be no assurance that the Company will be able to raise sufficient additional capital on acceptable terms, if at all. If such additional financing is not available on satisfactory terms, or is not available in sufficient amounts, or if the Company does not have sufficient authorized shares, the Company may be required to delay, limit, or eliminate the development of business opportunities and its ability to achieve its business objectives, its competitiveness, and its business, financial condition, and results of operations will be materially adversely affected. The Company could also be required to seek funds through arrangements with collaborative partners or otherwise at an earlier stage than otherwise would be desirable and it may be required to relinquish rights to some of its technologies or product candidates or otherwise agree to terms unfavorable to it, any of which may have a material adverse effect on the Company's business, operating results and prospects. In addition, geopolitical unrest including the potential impact of the Russian invasion of Ukraine, the possibility that the conflict could expand beyond eastern Europe, the impact of the COVID-19 pandemic and/or other health crises on the global financial markets may reduce the Company's ability to access capital, which could negatively affect its liquidity and ability to continue as a going concern. If the Company is unable to obtain funding when needed and/or on acceptable terms, the Company may be required to significantly curtail, delay or discontinue one or more of its research and development programs, the manufacture of clinical and commercial supplies, product portfolio expansion or pre commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expense, valuation of stock-based awards and valuation of leases. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions.
Research and Development Costs	Research and Development Costs Costs associated with internal research and development and external research and development services, including drug development, clinical studies and non-clinical studies, are expensed as incurred. Research and development expenses include costs for salaries, employee benefits, subcontractors, facility-related expenses, depreciation, stock-based compensation, third-party license fees, laboratory supplies, and external costs of outside vendors engaged to conduct discovery, non-clinical and clinical development activities, and clinical trials as well as to manufacture clinical trial materials, and other costs. The Company recognizes external research and development costs based on an evaluation of the progress to completion of specific tasks using information provided to the Company by its service providers. Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are recorded as prepaid expenses. Such prepaid expenses are recognized as an expense when the goods have been delivered or the related services have been performed, or when it is no longer expected that the goods will be delivered, or the services rendered. Upfront payments, milestone payments and annual maintenance fees under license agreements are currently expensed in the period in which they are incurred.
Patent Costs	Patent Costs All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.
Stock-Based Compensation	Stock-Based Compensation The Company measures all stock-based awards granted to employees, directors and non-employee consultants based on the fair value on the date of grant using the Black-Scholes option-pricing model. Compensation expense of those awards is recognized over the requisite service period, which is the vesting period of the respective award. Typically, the Company issues awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. The Company accounts for forfeitures as they occur. The Company classifies stock-based compensation expense in its condensed consolidated statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified. Prior to May 28, 2020, the Company had been a private company and lacked company-specific historical and implied volatility information for its common stock. Therefore, the Company estimates its expected common stock price volatility based on the historical volatility of publicly traded peer companies and expects to continue to do so until it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield considers the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Basic shares outstanding includes the weighted average effect of the Company’s prefunded warrants issued in June 2020, the exercise of which requires little or no consideration for the delivery of shares of common stock. Basic and diluted weighted average shares of common stock outstanding for the three and six months ended June 30, 2022 and 2021 includes the weighted average effect of 628,403 prefunded warrants for the purchase of shares of common stock, for which the remaining unfunded exercise price is $ 0.01 per share. Diluted net loss per share attributable to common stockholders is computed by dividing the diluted net loss attributable to common stockholders by the weighted average number of common shares, including potentially dilutive common shares assuming the dilutive effect of outstanding stock options and unvested restricted common shares, as determined using the treasury stock method. For periods in which the Company has reported net losses, diluted net loss per common share attributable to common stockholders is the same as basic net loss per common share attributable to common stockholders, since dilutive common shares are not assumed to have been issued if their effect is antidilutive. The Company excluded 3,130,370 and 2,546,962 common stock equivalents outstanding as of June 30, 2022 and 2021, respectively, from the computation of diluted net loss per share for the three and six months ended June 30, 2022 and 2021 because they had an anti-dilutive impact due to the net loss incurred for the periods presented.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements From time to time, new accounting guidance is issued by the FASB or other standard setting bodies that is adopted by us as of the effective date or, in some cases where early adoption is permitted, in advance of the effective date. We have assessed the recently issued guidance that is not yet effective and believe the new guidance will not have a material impact on the condensed consolidated results of operations, cash flows or financial position.

Fair Value Measurements and M_2

Fair Value Measurements and Marketable Debt Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Cash Equivalents and Marketable Debt Securities	The following tables summarize the Company’s cash equivalents and marketable debt securities as of June 30, 2022 and cash equivalents as of December 31, 2021: Total Quoted Significant Significant (in thousands) June 30, 2022 Cash equivalents: Money market funds $ 17,678 17,678 Total cash equivalents 17,678 17,678 — — Marketable debt securities: U.S. Government securities 35,188 — 35,188 Total marketable debt securities 35,188 — 35,188 — Total cash equivalents and marketable debt securities $ 52,866 $ 17,678 $ 35,188 $ — December 31, 2021 Cash equivalents: Money market funds $ 6,137 $ 6,137 $ — $ — Commercial paper 7,549 7,549 — — Corporate bonds 1,219 1,219 — — Total cash equivalents 14,905 14,905 — —
Summary of Marketable Debt Securities	The following table summarizes the Company's marketable debt securities as of June 30, 2022 . The Company held no marketable debt securities as of December 31, 2021. Amortized Gross Gross Fair Value (in thousands) June 30, 2022 Assets: U.S. Government securities $ 35,245 — ( 57 ) $ 35,188 $ 35,245 $ — $ ( 57 ) $ 35,188

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Prepaid Expense and Other Assets [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: June 30, December 31, 2022 2021 (in thousands) Prepaid research and development expenses $ 1,031 $ 676 Prepaid insurance 186 944 Payroll tax receivable 237 208 Other prepaid expenses and other assets 366 279 $ 1,820 $ 2,107

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Assets [Abstract]
Schedule of Fixed Assets, Net	Fixed assets, net consisted of the following: June 30, December 31, Useful Life 2022 2021 (in thousands) Computer equipment 5 years $ 66 $ 66 Lab equipment 5 years 1,192 1,092 Furniture and fixtures 7 years 456 456 Leasehold improvements lease term 31 31 1,745 1,645 Less: Accumulated depreciation ( 759 ) ( 596 ) $ 986 $ 1,049

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	June 30, December 31, 2022 2021 (in thousands) Accrued research and development expenses $ 5,135 $ 5,042 Accrued payroll and related expenses 1,002 1,098 Accrued other 519 452 $ 6,656 $ 6,592

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock Options (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Assumptions used to Determine Fair Value of Stock Options Granted	The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees: June 30, December 31, 2022 2021 Risk-free interest rate 2.11 % 0.89 % Expected term (in years) 6.21 6.19 Expected volatility 89 % 91 % Dividend yield 0.00 % 0.00 %
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity for the six months ended June 30, 2022 (amounts in millions, except for share and per share data): Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value (a) Shares Price Term (in years) (in millions) Outstanding as of December 31, 2021 2,523,305 $ 18.88 7.6 Granted 852,450 7.08 Forfeited/Expired ( 245,385 ) 61.54 Outstanding as of June 30, 2022 3,130,370 $ 12.32 8.3 $ — Exercisable as of June 30, 2022 1,201,628 $ 14.98 7.4 $ — Vested and expected to vest as of June 30, 2022 3,130,370 $ 12.32 8.3 $ — (a) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the common stock for the options that were "in the money" at June 30, 2022 . At June 30, 2022, none of the Company's stock options were "in the money."
Summary of Stock-Based Compensation Expense	Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development $ 694 $ 515 $ 1,349 $ 953 General and administrative 981 835 1,961 1,577 $ 1,675 $ 1,350 $ 3,310 $ 2,530

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Maturities of Lease Liabilities Due Under Lease Agreements	Maturities of lease liabilities due under these lease agreements as of June 30, 2022 are as follows: Operating (in thousands) Leases Six months ending December 31, 2022 $ 600 Year ended December 31, 2023 1,146 Year ended December 31, 2024 1,065 Year ended December 31, 2025 1,083 Year ended December 31, 2026 1,101 Thereafter 3,213 Total lease payments 8,208 Less: imputed interest ( 2,493 ) Present value of lease liabilities $ 5,715

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Detail) - USD ($)			1 Months Ended	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Aug. 14, 2020	Jul. 31, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Net loss				$ 8,667,000	$ 8,943,000	$ 12,609,000	$ 12,088,000	$ 17,610,000	$ 24,697,000
Accumulated deficit	$ (133,860,000)			(133,860,000)				(133,860,000)		$ (116,250,000)
Cash, cash equivalents and marketable debt securities	54,900,000			$ 54,900,000				$ 54,900,000
ATM Offering [Member] | Common Stock [Member]
Gross sales proceeds under sales agreement remaining amount	$ 29,200,000
Issuance of common stock | shares			2,342,720
Proceeds from issuance of common stock			$ 20,500,000
ATM Offering [Member] | Common Stock [Member] | Maximum [Member]
Aggregate sale of shares of our common stock		$ 50,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Summary Of Significant Accounting Policies [Line Items]
Warrants issued	628,403	628,403
Warrants exercise price	$ 0.01	$ 0.01
Common Stock Equivalents [Member]
Summary Of Significant Accounting Policies [Line Items]
Total potentially dilutive shares	3,130,370	2,546,962

Fair Value Measurements and M_3

Fair Value Measurements and Marketable Debt Securities - Summary of Cash Equivalents and Marketable Debt Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 17,678	$ 14,905
Marketable debt securities	35,188
Total cash equivalents and marketable debt securities	52,866
Money Market Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	17,678	6,137
Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		7,549
Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		1,219
U.S. Government Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	35,188
Quoted Prices in Active Markets, (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	17,678	14,905
Total cash equivalents and marketable debt securities	17,678
Quoted Prices in Active Markets, (Level 1) [Member] | Money Market Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	17,678	6,137
Quoted Prices in Active Markets, (Level 1) [Member] | Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		7,549
Quoted Prices in Active Markets, (Level 1) [Member] | Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		$ 1,219
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	35,188
Total cash equivalents and marketable debt securities	35,188
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	$ 35,188

Fair Value Measurements and M_4

Fair Value Measurements and Marketable Debt Securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Marketable debt securities					$ 0
Accrued interest receivable	$ 100,000		$ 100,000		0
Allowance for credit loss	0		0		$ 0
Impairment losses on investment	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements and M_5

Fair Value Measurements and Marketable Debt Securities - Summary of Marketable Debt Securities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 35,245
Gross Unrealized Losses	(57)
Fair Value	35,188
U.S. Government Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	35,245
Gross Unrealized Losses	(57)
Fair Value	$ 35,188

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets [Abstract]
Prepaid research and development expenses	$ 1,031	$ 676
Prepaid insurance	186	944
Payroll tax receivable	237	208
Other prepaid expenses and other assets	366	279
Total prepaid expenses and other current assets	$ 1,820	$ 2,107

Fixed Assets - Schedule of Fixe

Fixed Assets - Schedule of Fixed Assets, Net (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fixed assets, gross	$ 1,745	$ 1,645
Less: Accumulated depreciation	(759)	(596)
Fixed assets, net	986	1,049
Computer Equipment [Member]
Fixed assets, gross	$ 66	66
Fixed assets, useful life	5 years
Lab Equipment [Member]
Fixed assets, gross	$ 1,192	1,092
Fixed assets, useful life	5 years
Furniture and Fixtures [Member]
Fixed assets, gross	$ 456	456
Fixed assets, useful life	7 years
Leasehold Improvements [Member]
Fixed assets, gross	$ 31	$ 31
Fixed assets, useful life	lease term

Fixed Assets - Additional Infor

Fixed Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Depreciation expense	$ 0.1	$ 0.1	$ 0.1	$ 0.2

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued research and development expenses	$ 5,135	$ 5,042
Accrued payroll and related expenses	1,002	1,098
Accrued other	519	452
Total accrued expenses	$ 6,656	$ 6,592

Stockholders Equity and Stock O

Stockholders Equity and Stock Options - Additional Information (Detail) - USD ($)					6 Months Ended	12 Months Ended	23 Months Ended
	Jan. 01, 2022	Jan. 01, 2021	Aug. 14, 2020	May 28, 2020	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2022
Preferred stock, shares authorized					5,000,000	5,000,000	5,000,000
Preferred stock, par value					$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued					0	0	0
Preferred stock, shares outstanding					0	0	0
Common stock, shares authorized					115,000,000	115,000,000	115,000,000
Common stock, par value					$ 0.001	$ 0.001	$ 0.001
Common stock voting rights					Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders
Dividend paid					$ 0		$ 0
Common stock, shares issued					17,710,450	17,710,450	17,710,450
Common stock, shares outstanding					17,710,450	17,710,450	17,710,450
Options to purchase shares of common stock granted					852,450
Unrecognized compensation expense					$ 15,700,000		$ 15,700,000
Unrecognized compensation expense recognized period					2 years 5 months 19 days
2020 Equity Incentive Plan [Member]
Share-based compensation arrangement by share-based payment award, description					The maximum number of shares that may be issued in respect of any awards under the 2020 Plan is the sum of: (i) 1,700,000 shares plus (ii) an annual increase on January 1, 2021 and each anniversary of such date thereafter through January 1, 2030, equal to the lesser of (A) 4% of the shares issued and outstanding on the last day of the immediately preceding fiscal year, or (B) such smaller number of shares as determined by the Board (collectively, the “Plan Limit”).
Minimum level of maximum number of shares allowed to be issued					1,700,000
Percentage of outstanding shares					4%
Weighted-average grant date fair value of options granted					$ 5.31
2020 Equity Incentive Plan [Member] | From Prior Plans [Member]
Increase in shares reserved for future issuance					130,308	56,966
Maximum [Member] | 2020 Equity Incentive Plan [Member] | Incentive Stock Options [Member]
Maximum number of shares that may be issued under stock option incentive plan					8,000,000		8,000,000
Common Stock [Member] | 2020 Equity Incentive Plan [Member]
Shares available for grant					998,301		998,301
Increase in shares reserved for future issuance	708,418	614,709
Term of plan					10 years
Options to purchase shares of common stock granted					852,450
Common Stock [Member] | 2020 Equity Incentive Plan [Member] | Vest Over 4 Years [Member] | Employees [Member]
Options to purchase shares of common stock granted					810,950
Vesting period of stock option					4 years
Stock option vesting percentage					25%
Common Stock [Member] | 2020 Equity Incentive Plan [Member] | Vest One Year [Member] | Directors [Member]
Options to purchase shares of common stock granted					41,500
Vesting period of stock option					1 year
ATM Offering Program [Member] | Common Stock [Member]
Issuance of common stock | shares						2,342,720
Percentage of compensation for services equal to gross proceeds			3%
Sales agreement, description			The Company has no obligation to sell any of the ATM Shares and may at any time suspend offers under the ATM Agreement
Common stock, shares issued					2,354,244		2,354,244
Proceeds from issuance of common stock						$ 19,900,000	$ 20,100,000
Gross sales proceeds under sales agreement remaining amount					$ 29,200,000
ATM Offering Program [Member] | Common Stock [Member] | Maximum [Member]
Aggregate sale of shares of our common stock			$ 50,000,000
Private Placement [Member]
Issuance of common stock | shares				6,105,359
Issuance of warrants				628,403
Share price per share				$ 11.88
Warrants price per share				11.87
Warrants exercise price				$ 0.01
Gross proceeds				$ 80,000,000
Transaction cost				4,600,000
Proceeds from issuance common stock and warrants net offering costs				$ 75,400,000
Private Placement [Member] | MTS Health Partners [Member]
Issuance of common stock | shares				35,260

Stockholders Equity and Stock_2

Stockholders Equity and Stock Options - Assumptions used to Determine Fair Value of Stock Options Granted (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Risk-free interest rate	2.11%	0.89%
Expected term (in years)	6 years 2 months 15 days	6 years 2 months 8 days
Expected volatility	89%	91%
Dividend yield	0%	0%

Stockholders Equity and Stock_3

Stockholders Equity and Stock Options - Summary of Stock Option Activity (Detail) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Number of shares, Outstanding	2,523,305
Number of shares, Granted	852,450
Number of shares, Forfeited/Expired	(245,385)
Number of shares, Outstanding	3,130,370	2,523,305
Number of shares, Exercisable as of June 30, 2022	1,201,628
Number of shares, Vested and expected to vest as of June 30, 2022	3,130,370
Weighted average exercise price, balance	$ 18.88
Weighted average exercise price, Granted	7.08
Weighted average exercise price, Forfeited/Expired	61.54
Weighted average exercise price, balance	12.32	$ 18.88
Weighted average exercise price, Exercisable as of June 30, 2022	14.98
Weighted average exercise price, Vested and expected to vest as of June 30, 2022	$ 12.32
Weighted average remaining contractual term, outstanding	8 years 3 months 18 days	7 years 7 months 6 days
Weighted average remaining contractual term, Exercisable as of June 30, 2022	7 years 4 months 24 days
Weighted average remaining contractual term, Vested and expected to vest as of June 30, 2022	8 years 3 months 18 days

Stockholders Equity and Stock_4

Stockholders Equity and Stock Options - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,675	$ 1,350	$ 3,310	$ 2,530
Research and Development [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	694	515	1,349	953
General and Administrative [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 981	$ 835	$ 1,961	$ 1,577

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands

3 Months Ended

6 Months Ended

Aug. 09, 2021

Oct. 27, 2020 USD ($)

Aug. 04, 2020

May 28, 2020 USD ($) ft²

Dec. 11, 2019 USD ($)

Aug. 08, 2019

Nov. 05, 2018

Jun. 30, 2022 USD ($)

Jun. 30, 2021 USD ($)

Jun. 30, 2022 USD ($)

Jun. 30, 2021 USD ($)

Dec. 31, 2021

Nov. 30, 2016 USD ($)

Other Commitments [Line Items]

Milestone expenses

$ 0

$ 0

Milestone payments due

$ 0

$ 0

Weighted average remaining lease term in years

7 years 2 months 12 days

7 years 2 months 12 days

7 years 7 months 6 days

Weighted average discount rate

11%

11%

11%

Lease expenses

$ 100

$ 100

$ 200

$ 100

Pennsylvania [Member] | Office [Member]

Other Commitments [Line Items]

Operating lease term

3 years 6 months

Lease extension period

3 years

Lease term commencement date

Feb. 15, 2020

Pennsylvania [Member] | Office and Lab [Member]

Other Commitments [Line Items]

Lease extension period

2 years

Lease term commencement date

Jan. 01, 2019

Lease term expiration date

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Massachusetts [Member] | Office [Member]

Other Commitments [Line Items]

Area of office space | ft²

17,705

Lease term expiration date

Oct. 30, 2029

Massachusetts [Member] | Office [Member] | Letter of Credit

Other Commitments [Line Items]

Letter of credit

$ 1,300

Massachusetts [Member] | Office Sublease [Member]

Other Commitments [Line Items]

Lease term commencement date

Dec. 04, 2020

Lease term expiration date

Oct. 30, 2029

Massachusetts [Member] | First Sublease Year [Member] | Office Sublease [Member]

Other Commitments [Line Items]

Annual base rent

$ 800

Massachusetts [Member] | First Sublease Year [Member] | Office Sublease [Member] | Letter of Credit

Other Commitments [Line Items]

Lease security deposits letters of credit

800

Massachusetts [Member] | Final Sublease Year [Member] | Office Sublease [Member]

Other Commitments [Line Items]

Annual base rent

1,000

Massachusetts [Member] | Sixth Sublease Year | Office Sublease [Member] | Letter of Credit

Other Commitments [Line Items]

Lease security deposits letters of credit

$ 400

WFUHS [Member]

Other Commitments [Line Items]

License agreement consideration deduction percentage

60%

WFUHS [Member] | Maximum [Member]

Other Commitments [Line Items]

Milestone payments

$ 2,600

IU [Member]

Other Commitments [Line Items]

License agreement consideration deduction percentage

20%

IU [Member] | Maximum [Member]

Other Commitments [Line Items]

Milestone payments

$ 2,600

Annual royalty pay obligation

$ 100

WFUHS and IU [Member] | Maximum [Member]

Other Commitments [Line Items]

Payment for license agreements

$ 100

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Maturities of Lease Liabilities Due Under Lease Agreements (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
Nine months ending December 31, 2022	$ 600
Year ended December 31, 2023	1,146
Year ended December 31, 2024	1,065
Year ended December 31, 2025	1,083
Year ended December 31, 2026	1,101
Thereafter	3,213
Total lease payments	8,208
Less: imputed interest	(2,493)
Present value of lease liabilities	$ 5,715

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands			1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 01, 2021	Nov. 30, 2016	Nov. 30, 2020	Nov. 30, 2016	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Research and development expense					$ 5,644	$ 9,102	$ 11,450	$ 18,076
Laboratory Equipment [Member]
Related Party Transaction [Line Items]
Purchased of equipment									$ 100
Consulting Agreement [Member]
Related Party Transaction [Line Items]
Amount to be paid for consulting services				$ 100
Research and development expense							$ 100	$ 100
Period of agreement	4 years	4 years
Extented period of agreement			1 month
Agreement expiration date			Dec. 31, 2020
Consulting Agreement [Member] | Holdings [Member]
Related Party Transaction [Line Items]
Restricted common units granted				123,853
Award vesting		30%
Consulting Agreement [Member] | Future Services [Member] | Vests Over Forty Eight Months [Member]
Related Party Transaction [Line Items]
Award vesting		70%
Consulting Agreement [Member] | Future Services [Member] | Remaining Restricted Common Units [Member]
Related Party Transaction [Line Items]
Vesting period of stock option		48 months
Consulting Agreement [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Research and development expense					$ 100	$ 100