Larimar Therapeutics (LRMR) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 07, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
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		43,277,500
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, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 94,321	$ 26,825
Marketable securities	9,879	91,603
Prepaid expenses and other current assets	2,278	2,311
Total current assets	106,478	120,739
Property and equipment, net	677	831
Operating lease right-of-use assets	2,578	2,858
Restricted cash	1,339	1,339
Other assets	644	638
Total assets	111,716	126,405
Current liabilities:
Accounts payable	2,344	1,686
Accrued expenses	4,365	8,408
Operating lease liabilities, current	566	611
Total current liabilities	7,275	10,705
Operating lease liabilities	4,511	4,797
Total liabilities	11,786	15,502
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, 2023 and December 31, 2022; no shares issued and outstanding as of June 30, 2023 and December 31, 2022	0	0
Common stock, $0.001 par value per share; 115,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 43,269,200 shares issued and outstanding as of June 30, 2023 and December 31, 2022	43	43
Additional paid-in capital	266,372	262,496
Accumulated deficit	(166,497)	(151,605)
Accumulated other comprehensive gain (loss)	12	(31)
Total stockholders’ equity	99,930	110,903
Total liabilities and stockholders’ equity	$ 111,716	$ 126,405

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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	43,269,200	43,269,200
Common stock, shares outstanding	43,269,200	43,269,200

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating expenses:
Research and development	$ 5,875	$ 5,644	$ 10,437	$ 11,450
General and administrative	3,745	3,043	6,820	6,124
Total operating expenses	9,620	8,687	17,257	17,574
Loss from operations	(9,620)	(8,687)	(17,257)	(17,574)
Other income (expense), net	1,254	20	2,365	(36)
Net loss	$ (8,366)	$ (8,667)	$ (14,892)	$ (17,610)
Net loss per share, basic	$ (0.19)	$ (0.47)	$ (0.34)	$ (0.96)
Net loss per share, diluted	$ (0.19)	$ (0.47)	$ (0.34)	$ (0.96)
Weighted average common shares outstanding, basic	43,897,603	18,338,853	43,897,603	18,338,853
Weighted average common shares outstanding, diluted	43,897,603	18,338,853	43,897,603	18,338,853
Comprehensive loss:
Net loss	$ (8,366)	$ (8,667)	$ (14,892)	$ (17,610)
Other comprehensive gain (loss):
Unrealized gain (loss) on marketable securities	12	(57)	43	(57)
Total other comprehensive gain (loss)	12	(57)	43	(57)
Total comprehensive loss	$ (8,354)	$ (8,724)	$ (14,849)	$ (17,667)

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, 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 gain (loss) on marketable 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 gain (loss) on marketable 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
Beginning balance at Dec. 31, 2022	110,903	$ 43	262,496	(151,605)	(31)
Beginning balance, shares at Dec. 31, 2022		43,269,200
Stock-based compensation expense	1,833		1,833
Unrealized gain (loss) on marketable securities	31				31
Net loss	(6,526)			(6,526)
Ending balance at Mar. 31, 2023	106,241	$ 43	264,329	(158,131)
Ending balance, shares at Mar. 31, 2023		43,269,200
Beginning balance at Dec. 31, 2022	110,903	$ 43	262,496	(151,605)	(31)
Beginning balance, shares at Dec. 31, 2022		43,269,200
Unrealized gain (loss) on marketable securities	43
Net loss	(14,892)
Ending balance at Jun. 30, 2023	99,930	$ 43	266,372	(166,497)	12
Ending balance, shares at Jun. 30, 2023		43,269,200
Beginning balance at Mar. 31, 2023	106,241	$ 43	264,329	(158,131)
Beginning balance, shares at Mar. 31, 2023		43,269,200
Stock-based compensation expense	2,043		2,043
Unrealized gain (loss) on marketable securities	12				12
Net loss	(8,366)			(8,366)
Ending balance at Jun. 30, 2023	$ 99,930	$ 43	$ 266,372	$ (166,497)	$ 12
Ending balance, shares at Jun. 30, 2023		43,269,200

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (14,892)	$ (17,610)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	3,876	3,310
Non-cash lease expense	(51)	(15)
Depreciation expense	154	163
Amortization of premium on marketable securities	(645)	(3)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	33	287
Accounts payable	658	(1,235)
Accrued expenses	(4,043)	64
Other assets	(6)	20
Net cash used in operating activities:	(14,916)	(15,019)
Cash flows from investing activities:
Purchase of property and equipment		(100)
Purchase of marketable securities	(9,847)	(35,242)
Maturities and sales of marketable securities	92,259
Net cash provided by (used in) investing activities	82,412	(35,342)
Cash flows from financing activities:
Net increase (decrease) in cash, cash equivalents and restricted cash	67,496	(50,361)
Cash, cash equivalents and restricted cash at beginning of period	28,164	71,436
Cash, cash equivalents and restricted cash at end of period	$ 95,660	$ 21,075

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
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 ("FA"). FA is a rare, progressive and fatal disease in which patients are unable to produce sufficient FXN due to a genetic abnormality. The Company has completed two phase 1 studies of CTI-1601 and the first cohort of a Phase 2 in patients with FA. In May 2021, after reporting positive top-line data from the Company’s Phase 1 FA program, the U.S. Food and Drug Administration (“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 a 26-week non-human primate toxicology study that was designed to support extended dosing of patients with CTI-1601. In August 2022, the Company submitted a complete response to the clinical hold, following a Type C Meeting with the FDA, and proposed 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. In September 2022, the FDA lifted its full clinical hold on the CTI-1601 program and imposed a partial clinical hold. In May 2023, the Company announced top-line data from its completed a 25 mg cohort of a Phase 2, four-week, dose exploration trial of CTI-1601 in patients with FA and provided a complete response to the FDA in June 2023, which included unblinded safety, pharmacokinetic ("PK"), and pharmacodynamic data from the Phase 2 trial’s completed 25 mg cohort. Data from the completed 25 mg cohort (n = 13) indicated that CTI-1601 was generally well tolerated and showed increases in FXN levels from baseline compared to placebo in all evaluated tissues (skin and buccal cells) at day 14 (the final day of daily dosing in the trial). In June 2023, the Company met with the FDA. Following that meeting, the Company submitted a complete response to the FDA’s partial clinical hold that included unblinded safety, pharmacokinetic (“PK”) and frataxin data from the Phase 2 trial’s completed 25 mg cohort. In July 2023, the FDA cleared the Company’s four-week, placebo-controlled, Phase 2 dose exploration trial of CTI-1601 in patients with FA to proceed to a 50 mg cohort in which participants will be dosed daily for the first 14 days, and then every other day until day 28. Additionally, the FDA cleared for initiation the Company’s open label extension (“OLE”) trial in which participants will receive 25 mg of CTI-1601 daily. Further dose escalation in the Phase 2 and OLE trials and the initiation of additional U.S. clinical trials evaluating CTI-1601 are contingent on FDA review of results from the Phase 2 trial’s 50 mg cohort in accordance with a partial clinical hold. The Company is subject to risks and uncertainties common to pre-commercial companies in the biotechnology industry, including, but not limited to, development and commercialization 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. Product 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, infrastructure and extensive compliance-reporting capabilities. Even if the Company's drug development efforts are successful, it is uncertain when, if ever, it will realize significant revenue from product sales. 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 Generally Accepted Accounting Principles ("GAAP"). The condensed consolidated balance sheet as of December 31, 2022 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, 2023 and for the three and six months ended June 30, 2023 and 2022, 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, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 14, 2023 and the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 15, 2023. 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, 2023, condensed consolidated results of operations for the three and six months ended June 30, 2023 and 2022 and condensed consolidated statement of cash flows for the six months ended June 30, 2023 and 2022 have been made. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2023 . Liquidity and Capital Resources 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 $ 14.9 million and $ 17.6 million for the six months ended June 30, 2023 and 2022, respectively. In addition, as of June 30, 2023, the Company had an accumulated deficit of $ 166.5 million . The Company expects to continue to generate operating losses for the foreseeable future. As of June 30, 2023, the Company had approximately $ 104.2 million of cash, cash equivalents and marketable securities available for use to fund its operations and capital requirements. The Company has funded its operations to date primarily with proceeds from sales of common stock and proceeds from the sale of prefunded warrants for the purchase of common stock, the acquisition in 2020 of cash, cash equivalents, marketable securities and restricted cash upon the merger with Zafgen, Inc. ("Zafgen") and, prior to the 2020 merger with Zafgen, capital contributions from Chondrial Holdings, LLC. 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 these 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 securities will be sufficient to fund its forecasted operating expenses and capital expenditure requirements, for at least twelve months from the issuance of these condensed consolidated financial statements. If the timing of the Company's clinical assumptions are delayed or if there are other forecasted assumption changes that negatively impact its 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, that it will need additional capital to fund its future operating and capital requirements. Unless and until the Company can generate substantial revenue, 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, strategic partnerships with pharmaceutical and/or larger biotechnology companies, 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 its 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 tensions, volatility of capital markets, and other adverse macroeconomic events, including those due to inflationary pressures, rising interest rates, bank instability and the ability of the U.S. government to manage federal debt limits as well as the potential impact of 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 sufficient 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, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies 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, the recording as prepaid expense of payments made in advance of the actual provision of goods or services, 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, stock-based compensation, facility-related expenses, 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, depreciation 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 and directors 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. Prior to January 1, 2023, the Company estimated its expected common stock price volatility solely based on the historical volatility of publicly traded peer companies. Beginning on January 1, 2023, based on the availability of sufficient historical trading data of the Company's own common stock on the Nasdaq Global Market to calculate accurately its volatility, the Company began blending its volatility starting from June 2020 (following its merger with Zafgen in 2020) to the date of each stock-based award, and weighing the volatility of its peer group for the amount of time from May 31, 2020 backwards so that the blended volatility equals the expected term of the related stock-based award. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards th at 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. The 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, 2023 and 2022 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 stock equivalents assuming the dilutive effect of outstanding stock options, outstanding restricted stock units, and unvested restricted common shares, as determined using the treasury stock method. For periods in which the Company has reported net losses (all periods since inception), 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 stock equivalents are not assumed to have been issued if their effect is antidilutive. The Company excluded 5,129,327 and 3,130,370 common stock equivalents outstanding as of June 30, 2023 and 2022, respectively, from the computation of diluted net loss per share for the three and six months ended June 30, 2023 and 2022 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 Securities	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements and Marketable Securities	3. Fair Value Measurements and Marketable Securities Fair Value Measurements The Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 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 securities, accounts payable and accrued liabilities. For accounts payable and accrued liabilities, the carrying amounts of these financial instruments as of June 30, 2023 and December 31, 2022 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 securities as of June 30, 2023 and December 31, 2022. Total Quoted Significant Significant (in thousands) June 30, 2023 Cash equivalents: Money market funds invested in government securities $ 58,729 $ 58,729 $ — $ — U.S Treasury bills 25,758 25,758 — — Corporate bonds 7,889 — 7,889 — Total cash equivalents 92,376 84,487 7,889 — Marketable securities: U.S Treasury bills 9,879 9,879 — — Total marketable securities 9,879 9,879 — — Total cash equivalents and marketable securities $ 102,255 $ 94,366 $ 7,889 $ — December 31, 2022 Cash equivalents: Money market funds invested in government securities $ 22,184 $ 22,184 $ — $ — Total cash equivalents 22,184 22,184 — — Marketable securities: U.S Government and agency securities 91,603 — 91,603 — Total marketable securities 91,603 — 91,603 — Total cash equivalents and marketable securities $ 113,787 $ 22,184 $ 91,603 $ — The accrued interest receivable related to the Company’s investments was $ 0.3 million and $ 0.1 million as of June 30, 2023 and December 31, 2022, respectively, and is included in prepaid expenses and other current assets on the condensed consolidated balance sheet. The Company classifies its money market funds and U.S. treasury bills, 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. government and agency securities, corporate commercial paper, and corporate bonds, if any, 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 December 31, 2022, 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, 2023 and December 31, 2022 , no allowances for credit losses for the Company’s investments were recorded. During the three and six months ended June 30, 2023 and 2022 , the Company did no t recognize any impairment losses related to investments. Marketable securities The following table summarizes the Company's marketable securities as of June 30, 2023 and December 31, 2022. Amortized Gross Gross Fair Value (in thousands) June 30, 2023 Assets: U.S Treasury bills $ 9,876 $ 3 $ — $ 9,879 Total marketable securities $ 9,876 $ 3 $ — $ 9,879 December 31, 2022 Assets: U.S Government and agency securities $ 91,634 $ 12 $ ( 43 ) $ 91,603 Total marketable securities $ 91,634 $ 12 $ ( 43 ) $ 91,603

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2023
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, 2023 2022 (in thousands) Prepaid research and development expenses $ 1,640 $ 1,394 Prepaid insurance 152 679 Other prepaid expenses and other assets 486 238 $ 2,278 $ 2,311

Fixed Assets

Fixed Assets	6 Months Ended
	Jun. 30, 2023
Assets [Abstract]
Fixed Assets	5. Fixed Assets Fixed assets, net consisted of the following: June 30, December 31, Useful Life 2023 2022 (in thousands) Computer equipment 5 years $ 66 $ 66 Lab equipment 5 years 1,192 1,192 Furniture and fixtures 7 years 456 456 Leasehold improvements lease term 31 31 1,745 1,745 Less: Accumulated depreciation ( 1,068 ) ( 914 ) $ 677 $ 831 Depreciation expense was $ 0.1 million and $ 0.2 million for the three and six months ended June 30, 2023 , respectively. Depreciation expense was $ 0.1 million for the three and six months ended June 30, 2022, respectively. In addition, for the three and six months ended June 30, 2023 , there was less than $ 0.1 million and $ 0.1 million, respectively, of depreciation related to sublet assets recorded as other expense. For the three and six months ended June 30, 2022 , there was less than $ 0.1 million and $ 0.1 million, respectively, of depreciation related to sublet assets recorded as other expense.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	6. Accrued Expenses June 30, December 31, 2023 2022 (in thousands) Accrued research and development expenses $ 2,484 $ 5,921 Accrued payroll and related expenses 1,046 2,046 Accrued other 835 441 $ 4,365 $ 8,408

Stockholders' Equity and Stock

Stockholders' Equity and Stock Options	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Stock Options	7. Stockholders’ Equity and Stock Options Common Stock and Prefunded Warrants 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. As of June 30, 2023 , 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 43,269,200 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, if any. 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. In September 2022, the Company sold 25,558,750 shares of common stock at a public offering price of $ 3.15 per share and received net proceeds, net of underwriting discounts and commissions and offering costs of $ 75.2 million. 2022 ATM Agreement On November 10, 2022, the Company entered into a sales agreement (the "ATM Agreement") with Guggenheim Securities, LLC in connection with the establishment of an “at-the-market” offering program under which the Company may sell up to an aggregate of $ 50.0 million of shares of common stock (the “ATM Shares”) from time to time. 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. The ATM Shares will be offered and sold pursuant to the Company’s Registration Statement on Form S-3, filed by the Company on November 10, 2022 and effective as of November 21, 2022 (the “Registration Statement”), and the sales agreement prospectus that forms a part of such Registration Statement. As of the date of this Quarterly Report on Form 10-Q, no ATM Shares have been sold pursuant to 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 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, stock appreciation rights, restricted stock awards, restricted stock unit ("RSU") 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 Company's employees, as well as officers and employees of its 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. As permitted by the 2020 Plan, the Company added 1,730,768 and 708,418 shares available for grant to the 2020 Plan on January 1, 2023 and January 1, 2022, respectively. As of June 30, 2023 , 906,429 shares of common stock were available for grant under the 2020 Plan. Stock Option 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, 2023 Risk-free interest rate 3.64 % Expected term (in years) 6.23 Expected volatility 94 % Dividend yield 0.00 % Stock Options The following table summarizes the Company’s stock option activity for the six months ended June 30, 2023 (amounts in millions, except for share, contractual term, 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, 2022 3,071,528 $ 12.13 7.6 Options granted 1,473,200 4.93 Options forfeited/expired ( 61,401 ) 11.53 Outstanding as of June 30, 2023 4,483,327 $ 9.78 7.9 $ 0.1 Exercisable as of June 30, 2023 1,965,860 $ 13.08 6.5 $ — Vested and expected to vest as of June 30, 2023 4,483,327 $ 9.78 7.9 $ 0.1 (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, 2023 . Option Grants During the six months ended June 30, 2023 , the Company granted options to purchase 1,293,200 shares of common stock to employees under the 2020 Plan. The options have an exercise price equal to the closing stock price as of the grant date, 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 weighted-average grant date fair value of options granted under the 2020 Plan during the six months ended June 30, 2023 was $ 3.77 . At December 31, 2022, the aggregate intrinsic value of outstanding options granted under the 2020 Plan was $ 0.3 million. As noted in the table above, the aggregate intrinsic value of outstanding options at June 30, 2023 was $ 0.1 million. As of June 30, 2023 , total unrecognized compensation expense related to unvested stock options granted under the 2020 Plan was $ 12.8 million, which is expected to be recognized over a weighted average period of 2.38 years. Inducement Stock Option Grant During the six months ended June 30, 2023 , the Company granted options to purchase 180,000 shares of common stock granted outside of the 2020 Plan. This grant was made pursuant to the Nasdaq inducement grant exception in accordance with Nasdaq listing rule 5635(c)(4). The options issued under this inducement grant have an exercise price equal to the closing stock price as of the grant date, 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 weighted-average grant date fair value of options granted under this inducement grant during the six months ended June 30, 2023 was $ 4.62 . As of June 30, 2023 , total unrecognized compensation expense related to unvested inducement options granted was $ 0.8 million, which is expected to be recognized over a weighted average period of 3.61 years. Restricted Stock Units In January 2023, RSUs were granted under the 2020 Plan to the Company's employees in order to maintain retention of key employees. The value of an RSU award is based on the Company's stock price on the date of the grant. The shares underlying the RSUs are not issued until the RSUs vest. Activity with respect to the Company's RSUs during the six months ended June 30, 2023 was as follows (in millions, except share, contractual term, and per share data): Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Grant Date Contractual Value (a) Shares Fair Value Term (in years) (in millions) Outstanding as of December 31, 2022 — $ — Restricted stock units granted 650,000 4.94 Restricted stock units forfeited ( 4,000 ) 4.94 Outstanding as of June 30, 2023 646,000 $ 4.94 2.1 $ 2.0 Unvested and expected to vest as of June 30, 2023 646,000 $ 4.94 2.1 $ 2.0 Restricted Stock Unit Grants The RSUs vest annually over four years and have a weighted-average grant date fair value of $ 4.94 per unit. As of June 30, 2023 , total unrecognized compensation expense for RSUs was $ 2.9 million, which is expected to be recognized over a weighted-average period of 3.59 years. 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, 2023 2022 2023 2022 Research and development $ 864 $ 694 $ 1,608 $ 1,349 General and administrative 1,178 981 2,268 1,961 $ 2,042 $ 1,675 $ 3,876 $ 3,310

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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, as amended, 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. Both agreements continue from their effectve date through the last to expire of the applicable agreement's licensed patents unless earlier terminated by either party in accordance with their terms. 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, which commenced with 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. 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. In October 2022, the Company initiated dosing of a phase 2 study. Pursuant to the terms of both the WFUHS License and the IU License, the company recognized milestone expense of $ 0.3 million within research and development expenses. 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 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 . In January 2023, the Company executed an extension of this lease for an additional year, expiring on December 31, 2023 . 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. 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 March 9, 2023, the Company executed the option to extend the lease for an additional three year term and to lease additional space. The lease term will commence on September 1, 2023 for both the extension of the current lease and the lease of additional operating space, no right of use asset or lease liability will be recorded until the lease commencement date. 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 " Impairment Testing: Long-Lived Assets Classified as Held and Used," 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). Expense arising from operating leases was $ 0.1 million and $ 0.2 million during the three and six months ended June 30, 2023 , respectively. Expense arising from operating leases was $ 0.1 million and $ 0.2 million during the three and six months ended June 30, 2022, respectively. For operating leases, the weighted-average remaining lease term for leases at June 30, 2023 and December 31, 2022 was 6.3 and 6.8 years, respectively. For operating leases, the weighted average discount rate for leases at June 30, 2023 and December 31, 2022 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, 2023 are as follows: Operating (in thousands) Leases Six months ending December 31, 2023 $ 540 Year ended December 31, 2024 1,065 Year ended December 31, 2025 1,083 Year ended December 31, 2026 1,101 Year ended December 31, 2027 1,118 Thereafter 2,095 Total lease payments 7,002 Less: imputed interest ( 1,925 ) Present value of lease liabilities $ 5,077 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
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 Generally Accepted Accounting Principles ("GAAP"). The condensed consolidated balance sheet as of December 31, 2022 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, 2023 and for the three and six months ended June 30, 2023 and 2022, 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, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 14, 2023 and the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 15, 2023. 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, 2023, condensed consolidated results of operations for the three and six months ended June 30, 2023 and 2022 and condensed consolidated statement of cash flows for the six months ended June 30, 2023 and 2022 have been made. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2023 .
Liquidity and Capital Resources	Liquidity and Capital Resources 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 $ 14.9 million and $ 17.6 million for the six months ended June 30, 2023 and 2022, respectively. In addition, as of June 30, 2023, the Company had an accumulated deficit of $ 166.5 million . The Company expects to continue to generate operating losses for the foreseeable future. As of June 30, 2023, the Company had approximately $ 104.2 million of cash, cash equivalents and marketable securities available for use to fund its operations and capital requirements. The Company has funded its operations to date primarily with proceeds from sales of common stock and proceeds from the sale of prefunded warrants for the purchase of common stock, the acquisition in 2020 of cash, cash equivalents, marketable securities and restricted cash upon the merger with Zafgen, Inc. ("Zafgen") and, prior to the 2020 merger with Zafgen, capital contributions from Chondrial Holdings, LLC. 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 these 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 securities will be sufficient to fund its forecasted operating expenses and capital expenditure requirements, for at least twelve months from the issuance of these condensed consolidated financial statements. If the timing of the Company's clinical assumptions are delayed or if there are other forecasted assumption changes that negatively impact its 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, that it will need additional capital to fund its future operating and capital requirements. Unless and until the Company can generate substantial revenue, 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, strategic partnerships with pharmaceutical and/or larger biotechnology companies, 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 its 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 tensions, volatility of capital markets, and other adverse macroeconomic events, including those due to inflationary pressures, rising interest rates, bank instability and the ability of the U.S. government to manage federal debt limits as well as the potential impact of 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 sufficient 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, the recording as prepaid expense of payments made in advance of the actual provision of goods or services, 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, stock-based compensation, facility-related expenses, 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, depreciation 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 and directors 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. Prior to January 1, 2023, the Company estimated its expected common stock price volatility solely based on the historical volatility of publicly traded peer companies. Beginning on January 1, 2023, based on the availability of sufficient historical trading data of the Company's own common stock on the Nasdaq Global Market to calculate accurately its volatility, the Company began blending its volatility starting from June 2020 (following its merger with Zafgen in 2020) to the date of each stock-based award, and weighing the volatility of its peer group for the amount of time from May 31, 2020 backwards so that the blended volatility equals the expected term of the related stock-based award. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards th at 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. The 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, 2023 and 2022 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 stock equivalents assuming the dilutive effect of outstanding stock options, outstanding restricted stock units, and unvested restricted common shares, as determined using the treasury stock method. For periods in which the Company has reported net losses (all periods since inception), 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 stock equivalents are not assumed to have been issued if their effect is antidilutive. The Company excluded 5,129,327 and 3,130,370 common stock equivalents outstanding as of June 30, 2023 and 2022, respectively, from the computation of diluted net loss per share for the three and six months ended June 30, 2023 and 2022 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 Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Cash Equivalents and Marketable Securities	The following tables summarize the Company’s cash equivalents and marketable securities as of June 30, 2023 and December 31, 2022. Total Quoted Significant Significant (in thousands) June 30, 2023 Cash equivalents: Money market funds invested in government securities $ 58,729 $ 58,729 $ — $ — U.S Treasury bills 25,758 25,758 — — Corporate bonds 7,889 — 7,889 — Total cash equivalents 92,376 84,487 7,889 — Marketable securities: U.S Treasury bills 9,879 9,879 — — Total marketable securities 9,879 9,879 — — Total cash equivalents and marketable securities $ 102,255 $ 94,366 $ 7,889 $ — December 31, 2022 Cash equivalents: Money market funds invested in government securities $ 22,184 $ 22,184 $ — $ — Total cash equivalents 22,184 22,184 — — Marketable securities: U.S Government and agency securities 91,603 — 91,603 — Total marketable securities 91,603 — 91,603 — Total cash equivalents and marketable securities $ 113,787 $ 22,184 $ 91,603 $ —
Summary of Marketable Securities	The following table summarizes the Company's marketable securities as of June 30, 2023 and December 31, 2022. Amortized Gross Gross Fair Value (in thousands) June 30, 2023 Assets: U.S Treasury bills $ 9,876 $ 3 $ — $ 9,879 Total marketable securities $ 9,876 $ 3 $ — $ 9,879 December 31, 2022 Assets: U.S Government and agency securities $ 91,634 $ 12 $ ( 43 ) $ 91,603 Total marketable securities $ 91,634 $ 12 $ ( 43 ) $ 91,603

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 2022 (in thousands) Prepaid research and development expenses $ 1,640 $ 1,394 Prepaid insurance 152 679 Other prepaid expenses and other assets 486 238 $ 2,278 $ 2,311

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Assets [Abstract]
Schedule of Fixed Assets, Net	Fixed assets, net consisted of the following: June 30, December 31, Useful Life 2023 2022 (in thousands) Computer equipment 5 years $ 66 $ 66 Lab equipment 5 years 1,192 1,192 Furniture and fixtures 7 years 456 456 Leasehold improvements lease term 31 31 1,745 1,745 Less: Accumulated depreciation ( 1,068 ) ( 914 ) $ 677 $ 831

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	June 30, December 31, 2023 2022 (in thousands) Accrued research and development expenses $ 2,484 $ 5,921 Accrued payroll and related expenses 1,046 2,046 Accrued other 835 441 $ 4,365 $ 8,408

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock Options (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 Risk-free interest rate 3.64 % Expected term (in years) 6.23 Expected volatility 94 % Dividend yield 0.00 %
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity for the six months ended June 30, 2023 (amounts in millions, except for share, contractual term, 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, 2022 3,071,528 $ 12.13 7.6 Options granted 1,473,200 4.93 Options forfeited/expired ( 61,401 ) 11.53 Outstanding as of June 30, 2023 4,483,327 $ 9.78 7.9 $ 0.1 Exercisable as of June 30, 2023 1,965,860 $ 13.08 6.5 $ — Vested and expected to vest as of June 30, 2023 4,483,327 $ 9.78 7.9 $ 0.1 (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, 2023 .
Summary of Restricted Stock Units	Activity with respect to the Company's RSUs during the six months ended June 30, 2023 was as follows (in millions, except share, contractual term, and per share data): Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Grant Date Contractual Value (a) Shares Fair Value Term (in years) (in millions) Outstanding as of December 31, 2022 — $ — Restricted stock units granted 650,000 4.94 Restricted stock units forfeited ( 4,000 ) 4.94 Outstanding as of June 30, 2023 646,000 $ 4.94 2.1 $ 2.0 Unvested and expected to vest as of June 30, 2023 646,000 $ 4.94 2.1 $ 2.0
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, 2023 2022 2023 2022 Research and development $ 864 $ 694 $ 1,608 $ 1,349 General and administrative 1,178 981 2,268 1,961 $ 2,042 $ 1,675 $ 3,876 $ 3,310

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 are as follows: Operating (in thousands) Leases Six months ending December 31, 2023 $ 540 Year ended December 31, 2024 1,065 Year ended December 31, 2025 1,083 Year ended December 31, 2026 1,101 Year ended December 31, 2027 1,118 Thereafter 2,095 Total lease payments 7,002 Less: imputed interest ( 1,925 ) Present value of lease liabilities $ 5,077

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Net loss	$ 8,366	$ 6,526	$ 8,667	$ 8,943	$ 14,892	$ 17,610
Accumulated deficit	(166,497)				(166,497)		$ (151,605)
Cash and cash equivalents	94,321				94,321		$ 26,825
Cash, cash equivalents and marketable securities	$ 104,200				$ 104,200

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
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	5,129,327	3,130,370

Fair Value Measurements and M_3

Fair Value Measurements and Marketable Securities - Summary of Cash Equivalents and Marketable Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 92,376	$ 22,184
Marketable securities	9,879	91,603
Total cash equivalents and marketable securities	102,255	113,787
U.S Treasury Bills [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	25,758
Marketable securities	9,879
U.S. Government and Agency Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities		91,603
Money Market Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	58,729	22,184
Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	7,889
Quoted Prices in Active Markets, (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	84,487	22,184
Marketable securities	9,879
Total cash equivalents and marketable securities	94,366	22,184
Quoted Prices in Active Markets, (Level 1) [Member] | U.S Treasury Bills [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	25,758
Marketable securities	9,879
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	58,729	22,184
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	7,889
Marketable securities		91,603
Total cash equivalents and marketable securities	7,889	91,603
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government and Agency Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities		$ 91,603
Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 7,889

Fair Value Measurements and M_4

Fair Value Measurements and Marketable Securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Accrued interest receivable	$ 300,000		$ 300,000		$ 100,000
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 Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 9,876	$ 91,634
Gross Unrealized Gains	3	12
Gross Unrealized Losses		(43)
Fair Value	9,879	91,603
U.S Treasury Bills [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	9,876
Gross Unrealized Gains	3
Fair Value	$ 9,879
U.S. Government and Agency Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		91,634
Gross Unrealized Gains		12
Gross Unrealized Losses		(43)
Fair Value		$ 91,603

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, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid research and development expenses	$ 1,640	$ 1,394
Prepaid insurance	152	679
Other prepaid expenses and other assets	486	238
Total prepaid expenses and other current assets	$ 2,278	$ 2,311

Fixed Assets - Schedule of Fixe

Fixed Assets - Schedule of Fixed Assets, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fixed assets, gross	$ 1,745	$ 1,745
Less: Accumulated depreciation	(1,068)	(914)
Fixed assets, net	677	831
Computer Equipment [Member]
Fixed assets, gross	$ 66	66
Fixed assets, useful life	5 years
Lab Equipment [Member]
Fixed assets, gross	$ 1,192	1,192
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
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember

Fixed Assets - Additional Infor

Fixed Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Depreciation expense	$ 0.1	$ 0.1	$ 0.2	$ 0.1
Depreciation expenses related to sublet assets			$ 0.1	$ 0.1
Maximum [Member]
Depreciation expenses related to sublet assets	$ 0.1	$ 0.1

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued research and development expenses	$ 2,484	$ 5,921
Accrued payroll and related expenses	1,046	2,046
Accrued other	835	441
Total accrued expenses	$ 4,365	$ 8,408

Stockholders Equity and Stock O

Stockholders Equity and Stock Options - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	6 Months Ended
	Jan. 01, 2023	Nov. 10, 2022	Jan. 01, 2022	May 28, 2020	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Preferred stock, shares authorized						5,000,000	5,000,000
Preferred stock, par value						$ 0.001	$ 0.001
Preferred stock, shares issued						0	0
Preferred stock, shares outstanding						0	0
Common stock, shares authorized						115,000,000	115,000,000
Common stock, par value						$ 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
Issuance of warrants						628,403		628,403
Warrants exercise price						$ 0.01		$ 0.01
Common stock, shares issued						43,269,200	43,269,200
Common stock, shares outstanding						43,269,200	43,269,200
Options to purchase shares of common stock granted						1,473,200
Aggregate intrinsic value of outstanding options granted						$ 100
Restricted Stock Units [Member]
Weighted average grant date fair value, Restricted stock units granted						$ 4.94
Unrecognized compensation expense						$ 2,900
Unrecognized compensation expense recognized period						3 years 7 months 2 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
Increase in shares reserved for future issuance	1,730,768		708,418
Percentage of outstanding shares						4%
Term of plan						10 years
Unrecognized compensation expense						$ 12,800
Unrecognized compensation expense recognized period						2 years 4 months 17 days
Weighted-average grant date fair value of options granted						$ 3.77
Aggregate intrinsic value of outstanding options granted						$ 100	$ 300
2020 Equity Incentive Plan [Member] | Restricted Stock Units [Member] | Employees [Member]
Weighted average grant date fair value, Restricted stock units granted						$ 4.94
Vesting period of stock option						4 years
Maximum [Member] | 2020 Equity Incentive Plan [Member]
Maximum number of shares that may be issued under stock option incentive plan						8,000,000
Common Stock [Member] | 2020 Equity Incentive Plan [Member]
Shares available for grant						906,429
Common Stock [Member] | 2020 Equity Incentive Plan [Member] | Employees [Member]
Options to purchase shares of common stock granted						1,293,200
Vesting period of stock option						4 years
Common Stock [Member] | 2020 Equity Incentive Plan [Member] | First Anniversary [Member] | Employees [Member]
Stock option vesting percentage						25%
Inducement Stock [Member]
Options to purchase shares of common stock granted						180,000
Vesting period of stock option						4 years
Unrecognized compensation expense						$ 800
Unrecognized compensation expense recognized period						3 years 7 months 9 days
Weighted-average grant date fair value of options granted						$ 4.62
Inducement Stock [Member] | First Anniversary [Member]
Stock option vesting percentage						25%
ATM Offering Program [Member] | Common Stock [Member]
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		0
ATM Offering Program [Member] | Common Stock [Member] | Maximum [Member]
Aggregate sale of shares of our common stock		$ 50,000
Private Placement [Member]
Warrants price per share				$ 11.87
Warrants exercise price				$ 0.01
Gross proceeds				$ 80,000
Transaction cost				4,600
Proceeds from issuance common stock and warrants net offering costs				$ 75,400
Private Placement [Member] | Common Stock [Member]
Issuance of common stock				6,105,359
Issuance of warrants				628,403
Share price per share				$ 11.88
Private Placement [Member] | Common Stock [Member] | MTS Health Partners [Member]
Issuance of common stock				35,260
Public Offering [Member] | Common Stock [Member]
Issuance of common stock					25,558,750
Share price per share					$ 3.15
Proceeds net of issuance costs					$ 75,200

Stockholders Equity and Stock_2

Stockholders Equity and Stock Options - Assumptions used to Determine Fair Value of Stock Options Granted (Detail)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Risk-free interest rate	3.64%
Expected term (in years)	6 years 2 months 23 days
Expected volatility	94%
Dividend yield	0%

Stockholders Equity and Stock_3

Stockholders Equity and Stock Options - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Number of shares, Outstanding	3,071,528
Number of shares, Options granted	1,473,200
Number of shares, Options forfeited/expired	(61,401)
Number of shares, Outstanding	4,483,327	3,071,528
Number of shares, Exercisable as of June 30, 2023	1,965,860
Number of shares, Vested and expected to vest as of June 30, 2023	4,483,327
Weighted average exercise price, balance	$ 12.13
Weighted average exercise price, Options granted	4.93
Weighted average exercise price, Options forfeited/expired	11.53
Weighted average exercise price, balance	9.78	$ 12.13
Weighted average exercise price, Exercisable as of June 30, 2023	13.08
Weighted average exercise price, Vested and expected to vest as of June 30, 2023	$ 9.78
Weighted average remaining contractual term, outstanding	7 years 10 months 24 days	7 years 7 months 6 days
Weighted average remaining contractual term, Exercisable as of June 30, 2023	6 years 6 months
Weighted average remaining contractual term, Vested and expected to vest as of June 30, 2023	7 years 10 months 24 days
Aggregate intrinsic value, outstanding	$ 0.1
Aggregate intrinsic value, Vested and expected to vest as of June 30, 2023	$ 0.1

Stockholders Equity and Stock_4

Stockholders Equity and Stock Options - Summary of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Number of shares, Outstanding	0
Number of shares, Restricted stock units granted	650,000
Number of shares, Restricted stock units forfeited	(4,000)
Number of shares, Outstanding	646,000
Number of shares, Unvested and expected to vest as of June 30, 2023	646,000
Weighted average grant date fair value, Restricted stock units granted | $ / shares	$ 4.94
Weighted average grant date fair value, Restricted stock units forfeited | $ / shares	4.94
Weighted average grant date fair value, balance | $ / shares	4.94
Weighted average grant date fair value, Unvested and expected to vest as of June 30, 2023 | $ / shares	$ 4.94
Weighted average remaining contractual term, Outstanding as of June 30, 2023	2 years 1 month 6 days
Weighted average remaining contractual term, Unvested and expected to vest as of June 30, 2023	2 years 1 month 6 days
Aggregate intrinsic value, Outstanding as of June 30, 2023 | $	$ 2
Aggregate intrinsic value, Unvested and expected to vest as of June 30, 2023 | $	$ 2

Stockholders Equity and Stock_5

Stockholders Equity and Stock Options - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,042	$ 1,675	$ 3,876	$ 3,310
Research and Development [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	864	694	1,608	1,349
General and Administrative [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,178	$ 981	$ 2,268	$ 1,961

Commitments and Contingencies -

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

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Mar. 09, 2023

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

Jan. 31, 2023

Jun. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Jun. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Dec. 31, 2022 USD ($)

Nov. 30, 2016 USD ($)

Other Commitments [Line Items]

Weighted average remaining lease term in years

6 years 3 months 18 days

6 years 3 months 18 days

6 years 9 months 18 days

Weighted average discount rate

11%

11%

11%

Lease expenses

$ 0.1

$ 0.1

$ 0.2

$ 0.2

Pennsylvania [Member] | Office [Member]

Other Commitments [Line Items]

Operating lease term

3 years 6 months

Lease extension period

3 years

3 years

Lease term commencement date

Sep. 01, 2023

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

Dec. 31, 2023

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

$ 1.3

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

Other Commitments [Line Items]

Annual base rent

$ 0.8

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

Other Commitments [Line Items]

Lease security deposits letters of credit

0.8

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

Other Commitments [Line Items]

Annual base rent

1

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

Other Commitments [Line Items]

Lease security deposits letters of credit

$ 0.4

WFUHS [Member]

Other Commitments [Line Items]

License agreement consideration deduction percentage

60%

WFUHS [Member] | Maximum [Member]

Other Commitments [Line Items]

Milestone payments

$ 2.6

IU [Member]

Other Commitments [Line Items]

License agreement consideration deduction percentage

20%

IU [Member] | Maximum [Member]

Other Commitments [Line Items]

Milestone payments

$ 2.6

Annual royalty pay obligation

$ 0.1

WFUHS and IU [Member] | Research and Development Expenses [Member]

Other Commitments [Line Items]

Milestone expenses

$ 0.3

WFUHS and IU [Member] | Maximum [Member]

Other Commitments [Line Items]

Payment for license agreements

$ 0.1

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Maturities of Lease Liabilities Due Under Lease Agreements (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Leases [Abstract]
Six months ending December 31, 2023	$ 540
Year ended December 31, 2024	1,065
Year ended December 31, 2025	1,083
Year ended December 31, 2026	1,101
Year ended December 31, 2027	1,118
Thereafter	2,095
Total lease payments	7,002
Less: imputed interest	(1,925)
Present value of lease liabilities	$ 5,077