NeuroPace (NPCE) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40337
Entity Registrant Name	NEUROPACE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3550230
Entity Address, Address Line One	455 N. Bernardo Avenue
Entity Address, City or Town	Mountain View
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94043
City Area Code	650
Local Phone Number	237-2700
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	NPCE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,846,909
Amendment Flag	false
Entity Central Index Key	0001528287
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 5,702	$ 19,187
Short-term investments	86,709	96,397
Accounts receivable	8,474	7,091
Inventory	8,419	7,822
Prepaid expenses and other current assets	3,160	2,319
Total current assets	112,464	132,816
Property and equipment, net	951	603
Operating lease right-of-use asset	4,986	0
Restricted cash	122	122
Other assets	21	21
Total assets	118,544	133,562
Current liabilities
Accounts payable	1,503	1,378
Accrued liabilities	6,962	7,923
Operating lease liability	2,936	0
Total current liabilities	11,401	9,301
Deferred rent, noncurrent	0	911
Long-term debt	51,018	49,847
Operating lease liability, net of current portion	3,223	0
Total liabilities	65,642	60,059
Commitments and contingencies (Note 5)
Stockholders’ equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 24,814,855 and 24,452,999 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	25	24
Additional paid-in capital	502,250	497,522
Accumulated other comprehensive loss	(1,451)	(272)
Accumulated deficit	(447,922)	(423,771)
Total stockholders’ equity	52,902	73,503
Total liabilities and stockholders’ equity	$ 118,544	$ 133,562

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Shares authorized (in shares)	10,000,000	10,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	200,000,000	200,000,000
Common stock issued (in shares)	24,814,855	24,452,999
Common stock outstanding (in shares)	24,814,855	24,452,999

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 10,200	$ 12,630	$ 21,574	$ 23,847
Cost of goods sold	2,734	3,271	5,849	5,995
Gross profit	7,466	9,359	15,725	17,852
Operating expenses
Research and development	5,669	4,437	11,246	8,537
Selling, general and administrative	12,771	9,527	25,215	17,794
Total operating expenses	18,440	13,964	36,461	26,331
Loss from operations	(10,974)	(4,605)	(20,736)	(8,479)
Interest income	221	100	355	126
Interest expense	(1,852)	(1,873)	(3,682)	(3,722)
Other income (expense), net	(85)	(2,116)	(88)	(5,229)
Net loss	(12,690)	(8,494)	(24,151)	(17,304)
Unrealized loss on available-for-sale debt securities	(469)	(22)	(1,179)	(22)
Comprehensive loss	$ (13,159)	$ (8,516)	$ (25,330)	$ (17,326)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.52)	$ (0.48)	$ (0.99)	$ (1.93)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.52)	$ (0.48)	$ (0.99)	$ (1.93)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	24,503,552	17,553,818	24,406,100	8,959,134
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	24,503,552	17,553,818	24,406,100	8,959,134

Condensed Statements of Redeema

Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		16,614,178
Beginning balance at Dec. 31, 2020		$ 141,422
Ending balance (in shares) at Mar. 31, 2021		16,614,178
Ending balance at Mar. 31, 2021		$ 141,422
Beginning balance (in shares) at Dec. 31, 2020			314,096
Beginning balance at Dec. 31, 2020	$ (147,832)		$ 0	$ 239,826	$ 33	$ (387,691)
Increase (Decrease) in Stockholders' Equity
Net loss	(8,810)					(8,810)
Issuance of common stock pursuant to stock option exercises (in shares)			156,538
Issuance of common stock pursuant to stock option exercises	4			4
Stock-based compensation	202			202
Ending balance (in shares) at Mar. 31, 2021			470,634
Ending balance at Mar. 31, 2021	(156,436)		$ 0	240,032	33	(396,501)
Beginning balance (in shares) at Dec. 31, 2020		16,614,178
Beginning balance at Dec. 31, 2020		$ 141,422
Ending balance (in shares) at Jun. 30, 2021		0
Ending balance at Jun. 30, 2021		$ 0
Beginning balance (in shares) at Dec. 31, 2020			314,096
Beginning balance at Dec. 31, 2020	(147,832)		$ 0	239,826	33	(387,691)
Increase (Decrease) in Stockholders' Equity
Net loss	(17,304)
Ending balance (in shares) at Jun. 30, 2021			24,294,708
Ending balance at Jun. 30, 2021	88,666		$ 24	493,626	11	(404,995)
Beginning balance (in shares) at Dec. 31, 2020		16,614,178
Beginning balance at Dec. 31, 2020		$ 141,422
Ending balance (in shares) at Dec. 31, 2021		0
Beginning balance (in shares) at Dec. 31, 2020			314,096
Beginning balance at Dec. 31, 2020	$ (147,832)		$ 0	239,826	33	(387,691)
Ending balance (in shares) at Dec. 31, 2021	24,452,999		24,452,999
Ending balance at Dec. 31, 2021	$ 73,503		$ 24	497,522	(272)	(423,771)
Beginning balance (in shares) at Mar. 31, 2021		16,614,178
Beginning balance at Mar. 31, 2021		$ 141,422
Ending balance (in shares) at Jun. 30, 2021		0
Ending balance at Jun. 30, 2021		$ 0
Beginning balance (in shares) at Mar. 31, 2021			470,634
Beginning balance at Mar. 31, 2021	(156,436)		$ 0	240,032	33	(396,501)
Increase (Decrease) in Stockholders' Equity
Net loss	(8,494)					(8,494)
Unrealized gain (loss) on available-for-sale debt securities	(22)				(22)
Net exercise of Series B’ redeemable convertible preferred stock warrants (in shares)		213,941
Net exercise of Series B’ redeemable convertible preferred stock warrants	0	$ 5,606
Conversion of redeemable convertible preferred stock into common stock (in shares)		(16,828,119)	(16,828,119)
Conversion of redeemable convertible preferred stock into common stock	(147,028)	$ (147,028)	$ (17)	(147,011)
Net exercise of common stock warrants (in shares)			185
Net exercise of common stock warrants	0
Issuance of common stock upon initial public offering, net of issuance costs and underwriting discount (in shares)			6,900,000
Issuance of common stock upon initial public offering, net of issuance costs and underwriting discount of $11,813	105,487		$ 7	105,480
Issuance of common stock pursuant to stock option exercises (in shares)			95,770
Issuance of common stock pursuant to stock option exercises	4			4
Change in early exercise liability	(4)			(4)
Stock-based compensation	1,103			1,103
Ending balance (in shares) at Jun. 30, 2021			24,294,708
Ending balance at Jun. 30, 2021	$ 88,666		$ 24	493,626	11	(404,995)
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance (in shares) at Dec. 31, 2021	24,452,999		24,452,999
Beginning balance at Dec. 31, 2021	$ 73,503		$ 24	497,522	(272)	(423,771)
Increase (Decrease) in Stockholders' Equity
Net loss	(11,461)					(11,461)
Unrealized gain (loss) on available-for-sale debt securities	(710)				(710)
Issuance of common stock pursuant to stock option exercises (in shares)			38,635
Issuance of common stock pursuant to stock option exercises	1			1
Repurchase of common stock (in shares)			(14,454)
Change in early exercise liability	2			2
Stock-based compensation	1,488			1,488
Ending balance (in shares) at Mar. 31, 2022			24,477,180
Ending balance at Mar. 31, 2022	$ 62,823		$ 24	499,013	(982)	(435,232)
Beginning balance (in shares) at Dec. 31, 2021		0
Ending balance (in shares) at Jun. 30, 2022		0
Beginning balance (in shares) at Dec. 31, 2021	24,452,999		24,452,999
Beginning balance at Dec. 31, 2021	$ 73,503		$ 24	497,522	(272)	(423,771)
Increase (Decrease) in Stockholders' Equity
Net loss	$ (24,151)
Issuance of common stock pursuant to stock option exercises (in shares)	113,070
Ending balance (in shares) at Jun. 30, 2022	24,814,855		24,814,855
Ending balance at Jun. 30, 2022	$ 52,902		$ 25	502,250	(1,451)	(447,922)
Ending balance (in shares) at Jun. 30, 2022		0
Beginning balance (in shares) at Mar. 31, 2022			24,477,180
Beginning balance at Mar. 31, 2022	62,823		$ 24	499,013	(982)	(435,232)
Increase (Decrease) in Stockholders' Equity
Net loss	(12,690)					(12,690)
Unrealized gain (loss) on available-for-sale debt securities	(469)				(469)
Issuance of common stock pursuant to stock option exercises (in shares)			74,435
Issuance of common stock pursuant to stock option exercises	2			2
Issuance of shares pursuant to Employee Stock Purchase Plan (in shares)			147,217
Issuance of common stock pursuant to Employee Stock Purchase Plan	679		$ 1	678
Issuance of common stock upon vesting of restricted stock units (in shares)			121,656
Shares withheld for taxes (in shares)			(5,633)
Shares withheld for taxes	(47)			(47)
Change in early exercise liability	1			1
Stock-based compensation	$ 2,603			2,603
Ending balance (in shares) at Jun. 30, 2022	24,814,855		24,814,855
Ending balance at Jun. 30, 2022	$ 52,902		$ 25	$ 502,250	$ (1,451)	$ (447,922)

Condensed Statements of Redee_2

Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Parenthetical) $ in Thousands	3 Months Ended
	Jun. 30, 2021 USD ($)
Statement of Financial Position [Abstract]
Issuance costs and underwriting discount	$ 11,813

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (24,151)	$ (17,304)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation expense	4,091	1,305
Depreciation	153	142
Amortization of debt discount and issuance costs	128	142
Non-cash interest expense	411	438
PIK interest incurred but not paid on term loan	632	0
Amortization of right-of-use asset	1,343	0
Realized loss from sale of short-term investments	109	0
Inventory write-downs	169	162
Change in fair value of redeemable convertible preferred stock warrant liability	0	5,236
Changes in operating assets and liabilities
Accounts receivable	(1,384)	690
Inventory	(766)	(218)
Prepaid expenses and other assets	(841)	(2,660)
Accounts payable	93	68
Accrued liabilities	(468)	521
Operating lease liabilities	(1,570)	0
Deferred rent	0	(472)
Net cash (used in) operating activities	(22,051)	(11,950)
Cash flows from investing activities
Acquisition of property and equipment	(470)	(52)
Proceeds from sale of short-term investments	8,400	0
Purchase of short-term investments	0	(85,000)
Net cash provided by (used in) investing activities	7,930	(85,052)
Cash flows from financing activities
Proceeds from issuance of common stock under employee plans	683	8
Taxes withheld and paid related to net share settlement of equity awards	(47)	0
Proceeds from issuance of common stock in initial public offering, net of underwriter discount and commissions	0	109,089
Payment of deferred offering costs	0	(3,392)
Repayment of debt	0	(4,090)
Net cash provided by financing activities	636	101,615
Net (decrease) increase in cash and cash equivalents	(13,485)	4,613
Cash, cash equivalents and restricted cash
Beginning of the period	19,309	26,756
End of the period	5,824	31,369
Reconciliation of cash, cash equivalents and restricted cash to balance sheets:
Cash and cash equivalents	5,702	31,247
Restricted cash	122	122
Cash, cash equivalents and restricted cash in balance sheets	5,824	31,369
Supplemental disclosure of cash flow information:
Cash paid for interest	2,510	3,143
Supplemental disclosures of non-cash investing and financing information:
Net change in accrued liabilities from early exercise of options	(3)	4
Purchase of property and equipment included in accounts payable	$ 31	$ 0

The Company

The Company	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company NeuroPace, Inc., or the Company, was incorporated in the state of Delaware on November 19, 1997. The Company is a commercial-stage medical device company that has developed the RNS System, the only commercially available brain-responsive neuromodulation system designed for treating medically refractory focal epilepsy by delivering personalized, real-time treatment at the seizure source. The Company began commercializing its products in the United States in 2014. Initial Public Offering On April 21, 2021, the Company’s registration statement on Form S-1 (File No. 333-254663) relating to its initial public offering, or IPO, of common stock became effective. The IPO closed on April 26, 2021, at which time the Company issued 6,900,000 shares of its common stock at a price of $17.00 per share, which included the issuance of shares in connection with the exercise by the underwriters of their option to purchase up to 900,000 additional shares. The Company received an aggregate of $117.3 million in gross proceeds, before underwriting discounts and commissions and offering costs, and approximately $105.5 million in net proceeds after deducting $8.2 million in underwriting discounts and commissions and $3.6 million in offering costs. Upon the closing of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock converted into 16,614,178 shares of common stock, warrants to purchase 346,823 shares of Series B’ convertible preferred stock net exercised to 213,941 shares of Series B’ convertible preferred stock and subsequently converted into common stock on a one-to-one basis, and warrants to purchase 219 shares of common stock net exercised to 185 shares of common stock. In connection with the completion of its IPO, on April 26, 2021, the Company’s certificate of incorporation was amended and restated to provide for 200,000,000 authorized shares of common stock with a par value of $0.001 per share and 10,000,000 authorized shares of preferred stock with a par value of $0.001 per share. Liquidity and Capital Resources The Company has incurred operating losses and negative cash flows from operations since its inception and has an accumulated deficit of $447.9 million as of June 30, 2022. For the six months ended June 30, 2022 and 2021, the Company used $22.1 million and $12.0 million of cash, respectively, in its operating activities. As of June 30, 2022, the Company had cash, cash equivalents and short-term investments of $92.4 million. Historically, the Company has funded its operations principally through the sales of its products, issuance of redeemable convertible preferred stock and debt financing. On April 26, 2021, the Company completed its IPO and received approximately $105.5 million in net proceeds after deducting underwriting discounts, commissions and offering costs. The Company’s condensed financial statements have been prepared on the basis of the Company continuing as a going concern for the next 12 months. Management believes that the Company’s cash, cash equivalents and short-term investments will allow the Company to continue its planned operations for at least the next 12 months from the date of the issuance of these unaudited interim condensed financial statements. In connection with the Term Loan described in Note 6, the Company will need to be in compliance with a minimum annual net revenue covenant determined in accordance with generally accepted accounting principles of $43.0 million in the year ended December 31, 2022, and maintain a minimum cash and cash equivalents balance of $5.0 million . If the Company cannot generate sufficient revenue in the future, the Company may not be in compliance with the annual net revenue covenant and the lender may call the debt resulting in the Company immediately needing additional funds, and resulting in a going concern. As of June 30, 2022 , the Company was in compliance with all covenants of the Term Loan. The COVID-19 pandemic is affecting business conditions in the industry in which the Company operates. Beginning in March 2020, the Company’s net sales were negatively impacted by the COVID-19 pandemic as hospitals delayed or canceled elective procedures. In response to the pandemic, many state and local governments in the U.S. issued orders that temporarily precluded elective procedures in order to conserve scarce health system resources. The decrease in hospital admission rates and elective surgeries reduced both the number of patients being evaluated for treatment with and demand for elective procedures using the Company's RNS System. A similar

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited interim condensed financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, as defined by the Financial Accounting Standards Board, or the FASB. Reverse Stock Split On April 9, 2021, the Company effected a 1-for-2.6 reverse stock split of its common stock and redeemable convertible preferred stock. The par value of the authorized stock was not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock and redeemable convertible preferred stock and related per share amounts contained in the accompanying financial statements have been retroactively revised to reflect the combined effect of all reverse stock splits for all periods presented. Unaudited Interim Financial Information The condensed balance sheet as of December 31, 2021 was derived from the Company’s audited financial statements, but does not include all disclosures required by GAAP. The accompanying unaudited condensed financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021, have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission, or the 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. Accordingly, these financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2021 and notes thereto, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 10, 2022. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s condensed financial position as of June 30, 2022 and condensed results of operations for the three and six months ended June 30, 2022 and 2021 and condensed cash flows for the six months ended June 30, 2022 and 2021 have been made. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2022. Use of Estimates The preparation of unaudited interim condensed financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. The Company uses significant judgment when making estimates related to the valuation of its common stock prior to the IPO, and related stock-based compensation, the valuation of deferred tax assets and related valuation allowances, provision for excess and obsolete inventories, and the valuation of redeemable convertible preferred stock warrant liability. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. Fair Value of Financial Instruments Carrying amounts of certain of the Company’s financial instruments, including cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximate fair value because of the short-term nature of these instruments. Short-term investments comprise available-for-sale debt securities, which are carried at fair value. The Company believes that its borrowings bear interest at the prevailing market rates for instruments with similar characteristics; accordingly, the carrying value of this instrument approximates its fair value. The redeemable convertible preferred stock warrant liability is carried at fair value based on unobservable market inputs. The Company determines the fair value of financial and non-financial assets and liabilities using the fair value hierarchy which establishes three levels of inputs that may be used to measure fair value (see Note 3). Concentration of Credit Risk, and Other Risks and Uncertainties Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, short-term investments and accounts receivable to the extent of the amounts recorded on the balance sheet. The Company’s cash is invested in one major financial institution in the United States. Deposits in this financial institution may exceed federally insured limits. The Company’s cash equivalents are invested in money market funds. The Company’s accounts receivable are due from a variety of health care organizations in the United States. For the three and six months ended June 30, 2022 and 2021, there were no customers that represented 10% or more of revenue. As of June 30, 2022 and December 31, 2021, no customer represented 10% or more of the Company’s accounts receivable. The Company is subject to certain risks, including that its devices may not be approved or cleared or continue to be approved or cleared for marketing by governmental authorities or be successfully marketed for expanded indications. There can be no assurance that the Company’s products will achieve widespread adoption in the marketplace, nor can there be any assurance that existing devices or any future devices can be developed or manufactured at an acceptable cost and speed and with appropriate performance characteristics. The Company is also subject to risks common to companies in the medical device industry, including, but not limited to, new technological innovations, dependence on healthcare providers to prescribe initial implants and replacements, dependence upon third-party payors to provide adequate coverage and reimbursement, dependence on key personnel, single-source suppliers and vendors in connection with the manufacture of its products, concentration of Level 4 CECs and epileptologists, obtaining, maintaining, protecting, enforcing, and defending intellectual property rights and proprietary technology, product liability claims, legal proceedings, and compliance with government regulations. The Company’s medical devices require approvals or clearances from the U.S. Food and Drug Administration, or the FDA, or international regulatory agencies. In addition, in order to continue the Company’s operations, compliance with various federal and state laws is required. If approvals or clearances were withdrawn by the FDA for the Company’s current products or if such approvals or clearances were denied or delayed for future products, product updates, or expanded indications for use, it would have a material adverse impact on the Company. Leases The Company leases its facilities and meets the requirements to account for these leases as operating leases. For the three and six months ended June 30, 2021, for facility leases that contain rent escalations or rent concession provisions, the Company recorded its lease expense during the lease term on a straight-line basis over the term of the lease. As of December 31, 2021, the Company recorded differences between the rent paid and the straight-line rent as a deferred rent liability. Leasehold improvements funded by landlord incentives or allowances were recorded as leasehold improvement assets and a corresponding deferred rent liability. The leasehold improvement asset is amortized over the lesser of the term of the lease or life of the asset. Upon adoption of ASC 842, Leases , on January 1, 2022, the Company determined if an arrangement is a lease, or contains a lease, at inception. Operating leases are included in operating lease right-of-use, or ROU, assets, operating lease liability, and operating lease liability, net of current portion on the Company’s condensed balance sheets. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment at commencement date in determining the present value of future payments. The ROU asset also includes any lease payments made to the lessor at or before the commencement date, minus lease incentives received, and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company elected certain practical expedients under ASC 842 which are: (i) to not record leases with an initial term of twelve months or less on the balance sheet; (ii) to combine the lease and non-lease components in determining the lease liabilities and right-of-use assets, and (iii) to carry forward prior conclusions about lease identification and classification. Government Programs In May 2021, the Company was awarded a grant by the National Institutes of Health, or NIH, to support research of thalamocortical responsive neurostimulation for the treatment of Lennox-Gastaut Syndrome, a type of epilepsy. The award was issued for a five-year period and has a total budget of over $9.3 million, which includes approximately $5.5 million in funding for subawards to third party academic epilepsy centers that are collaborating on the study and are subinvestigators on the study funded by NIH. The subawardees are determined by NIH. The Company’s responsibility for the subawards is to submit the funding requests on behalf of the subawardees. The funding of subawards does not have any impact on the Company’s condensed financial statements. Funding was approved for the first year beginning June 1, 2021 and provides for reimbursement of qualified direct and indirect expenses in the amount of $0.8 million, including $0.4 million for subawards. Approvals of funds for years two through five are subject to the completion of certain milestones. On July 30, 2022, the Company received funding approval for year two in the amount of $2.6 million, which includes $1.6 million for subawards. For funds received under the NIH funding agreement, the Company recognizes a reduction in research and development expenses in an amount equal to the qualifying expenses incurred in each period up to the amount awarded by the NIH. Qualifying expenses incurred by the Company in advance of funding by the NIH are recorded within prepaid expenses and other current assets on the balance sheets. Through June 30, 2022, $0.4 million of qualifying expenses have been incurred and funded by the NIH related to the first year funding. As of June 30, 2022, the Company recorded prepaid expenses and other current assets of less than $0.1 million related to the second year funding. Net Loss per Share Attributable to Common Stockholders Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, stock options, common stock subject to repurchase related to early exercise of stock options, and restricted stock units are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities. The Company considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities, because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of the shares issued upon early exercise of stock options subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02 (Topic 842), Leases . ASU 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. This ASU provides a lessee with an option to not account for leases with a term of 12 months or less as leases in the scope of this ASU. This ASU also requires new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. This ASU should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , which allows entities to elect an optional transition method where entities may continue to apply the existing lease guidance during the comparative periods and apply the new lease requirements through a cumulative effect adjustment in the period of adoption rather than in the earliest period presented. In June 2020, the FASB issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities, which delayed the adoption dates for ASU 2016-02 for non-public entities to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is allowed. The Company adopted Topic 842 effective January 1, 2022 using a modified retrospective method and did not restate comparative periods. The Company recognized ROU assets of $6.1 million and lease liabilities of $7.5 million for its operating leases as of January 1, 2022. In addition, the amount of the Company’s deferred rent as of December 31, 2021 of $1.4 million was removed upon adoption. The adoption of these ASUs did not have any impact on the condensed statements of operations and comprehensive loss and condensed statements of cash flows. See Note 5 for more information related to the Company’s lease obligations. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which amends existing guidance on the impairment of financial assets and adds an impairment model that is based on expected losses rather than incurred losses and requires an entity to recognize as an allowance its estimate of expected credit losses for its financial assets. An entity will apply this guidance through a cumulative-effect adjustment to retained earnings upon adoption (a modified-retrospective approach) while a prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. For public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, adoption is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For SEC filers that are eligible to be smaller reporting companies and for all other entities, this ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its financial statements and related disclosures, and does not expect the standard will have a material impact on the Company’s financial statements and related disclosures.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The following table summarizes the Company’s financial assets (cash equivalents, marketable securities and liabilities) at fair value as of June 30, 2022 (in thousands): Fair Value as of June 30, 2022 Basis for Fair Value Measurements (Level 1) (Level 2) (Level 3) Assets: Money market funds, included in cash and cash equivalents $ 5,253 $ 5,253 $ — $ — Fixed income mutual funds, included in short-term investments 86,709 86,709 — — Total $ 91,962 $ 91,962 $ — $ — The following table summarizes the Company’s financial assets (cash equivalents, marketable securities and liabilities) at fair value as of December 31, 2021 (in thousands): Fair Value as of December 31, 2021 Basis for Fair Value Measurements (Level 1) (Level 2) (Level 3) Assets: Money market funds, included in cash and cash equivalents $ 16,498 $ 16,498 $ — $ — Fixed income mutual funds, included in short-term investments 96,397 96,397 — — Total $ 112,895 $ 112,895 $ — $ — There were no liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2022 and December 31, 2021. The money market funds are highly liquid and primarily invest in short-term fixed income securities issued by the U.S. government and U.S. government agencies. The Company’s available-for-sale investments comprise short-term investments in fixed income mutual funds, which primarily consist of debt securities issued by the U.S. government and U.S. government agencies and corporate bonds and notes. The following is a summary of the Company’s available-for-sale debt securities (in thousands): June 30, December 31, 2022 2021 Cost basis $ 88,160 $ 96,702 Unrealized loss (1,451) (305) Fair value $ 86,709 $ 96,397 In determining the fair value of the redeemable convertible preferred stock warrant liability, the Company used the Black-Scholes option pricing model to estimate the fair value using unobservable inputs including the expected term, expected volatility, risk-free interest rate and dividend yield (see Note 8). There were no warrants outstanding for the purchase of redeemable convertible preferred stock as of June 30, 2022, as all such warrants were net exercised to shares of common stock upon the closing of the IPO. The change in fair value of the redeemable convertible preferred stock warrant liability is summarized below (in thousands): Redeemable Convertible Preferred Stock Warrant Liability Fair value as of January 1, 2021 $ 369 Change in fair value included in other income (expense), net 5,236 Net exercise of redeemable convertible preferred stock warrants (5,605) Fair value as of June 30, 2021 $ —

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Inventory Inventories consist of the following (in thousands): June 30, December 31, 2022 2021 Raw materials $ 2,463 $ 2,232 Work-in-process 747 879 Finished goods 5,209 4,711 Total $ 8,419 $ 7,822 Property and Equipment, net Property and equipment, net consists of the following (in thousands): June 30, December 31, 2022 2021 Machinery, equipment, furniture and fixtures $ 4,207 $ 3,742 Computer equipment and software 2,952 2,916 Leasehold improvements 2,402 2,402 9,561 9,060 Less: Accumulated depreciation (8,610) (8,457) Property and equipment, net $ 951 $ 603 Depreciation expense for the three months ended June 30, 2022 and 2021 was $0.1 million and $0.1 million, respectively. Depreciation expense for the six months ended June 30, 2022 and 2021 was $0.2 million and $0.1 million, respectively. Accrued Liabilities Accrued liabilities consist of the following (in thousands): June 30, December 31, 2022 2021 Payroll and related expenses $ 5,254 $ 6,547 Inventory-raw materials 355 251 Professional fees 419 109 Deferred rent, current — 490 Other 934 526 Total accrued liabilities $ 6,962 $ 7,923

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Facility Lease In August 2011, the Company entered into a non-cancelable operating lease for combined office and manufacturing facilities in Mountain View, California. The lease was scheduled to expire in April 2019 and was amended in May 2018 to extend it through June 2024. The terms of the facility lease provide for rental payments on a graduated scale; however, rent expense is recognized on a straight-line basis over the lease term. The Company has an option to extend the lease for a period of five years, commencing on July 1, 2024 and expiring on June 30, 2029. In conjunction with the original lease agreement, the Company obtained a letter of credit for $0.9 million in lieu of a security deposit. In May 2019, the letter of credit was amended and reduced to $0.7 million. In June 2021, the letter of credit was amended and further reduced to $0.2 million. Rental payments range from $2.9 million to $3.3 million per year over the extended term of the lease. In April 2020, the Company amended the lease agreement to defer 50.0% of the rental payment for May and June 2020 of $0.3 million. The deferred rental payments accrued interest at an annual rate of 8.0% starting from October 1, 2020 and were paid in three equal monthly installments commencing on April 1, 2021. Rent expense for the three and six months ended June 30, 2021 was $0.7 million and $1.4 million, respectively. As of December 31, 2021, $1.4 million was recorded as deferred rent expense. The Company’s future minimum lease payments under the non-cancellable operating lease as of December 31, 2021 were as follows (in thousands): December 31, 2022 $ 3,172 2023 3,267 2024 1,666 Total $ 8,105 The maturities of operating lease liabilities as of June 30, 2022 are as follows (in thousands): June 30, 2022 (remaining six months) $ 1,601 2023 3,267 2024 1,666 Total undiscounted lease payments 6,534 Less: imputed interest 375 Total operating lease liability 6,159 Less: current portion 2,936 Operating lease liability, net of current portion $ 3,223 Operating lease cost was $0.7 million and $1.3 million for the three and six months ended June 30, 2022, respectively. As of June 30, 2022, the remaining term for the operating lease in Mountain View, California was 2.0 years, and the discount rate used to measure the lease liability for such operating lease upon recognition was 6.3%. During the six months ended June 30, 2022, cash paid for amounts included in operating lease liabilities of $1.6 million was included in cash flows from operating activities on the condensed statements of cash flows. Indemnifications In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and may provide for indemnification of the counterparty. The Company’s exposure under these agreements is unknown because it involves claims that may be made against it in the future but have not yet been made. The Company may, from time to time, be subject to claims or be required to defend actions related to its indemnification obligations. The Company indemnifies each of its directors and officers for certain events or occurrences, subject to certain limits, while the director or officer is or was serving at the Company’s request in such capacity, as permitted under Delaware law and in accordance with its certificate of incorporation and bylaws. The term of the indemnification period lasts as long as the director or officer may be subject to any proceeding arising out of acts or omissions of such individual in such capacity. The maximum amount of potential future indemnification is unlimited. The Company believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to these obligations as of June 30, 2022 and December 31, 2021. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. The Company determined that no accrual related to contingencies was required as of June 30, 2022 and December 31, 2021. Legal Proceedings The Company is, and from time to time may become, involved in legal proceedings. The Company may also pursue litigation to assert its legal rights and such litigation may be costly and divert the efforts and attention of its management and technical personnel which could adversely affect its business. Due to the uncertainty of litigation and depending on the amount and the timing, an unfavorable resolution of some or all of such matters may materially affect our business, results of operations, financial position, or cash flows. The Company regularly evaluates current information to determine whether any accruals should be adjusted and whether new accruals are required. Such accruals, if any, reflect the estimable and probable costs that the Company may incur from the outcomes of its legal proceedings. Actual claims could settle or be adjudicated against the Company in the future for materially different amounts than the Company has accrued due to the inherently unpredictable nature of litigation. Legal costs are expensed as incurred. The Company believes it has recorded adequate provisions for any such lawsuits and claims as of June 30, 2022. The provisions are immaterial and are recorded within selling, general and administrative expenses. The nature of the loss contingencies relating to claims that have been asserted against us are described below. On April 20, 2021, the Company received correspondence from the United States Department of Treasury regarding an inquiry into a matter that may fall under the jurisdiction of the Committee on Foreign Investment in the United States, or CFIUS. While the Company believes that its RNS System is not a critical technology for which CFIUS would have jurisdiction and does not pose a national security risk, the Company is cooperating fully with CFIUS on the matter. Additionally, on October 18, 2021, three stockholders of the Company, James Jacoby, George Vachtsevanos, and Javier Echauz, or together with Company, the Parties, filed a complaint in the United States District Court for the Northern District of California, or the Court, entitled James Jacoby et al. v. NeuroPace, Inc., et al. , Case No. 3:21-cv-8136, against the Company and its board of directors. The complaint alleges various claims related to the Company’s reverse stock splits and seeks, among other relief, damages and attorney’s fees. The complaint was amended on December 28, 2021 to name additional defendants. On August 8, 2022, the Parties entered into a confidential settlement agreement, which contains, among other things, a mutual release of claims and no admission of liability by defendants. On August 9, 2022, the Parties filed a stipulation of dismissal with prejudice, which was entered by the Court on August 9, 2022. Although the Company has agreed to settle these claims, it continues to believe there is no merit to the stockholders’ allegations. As of June 30, 2022, the Company has recorded an immaterial estimated liability related to this complaint.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt 2020 Term Loan In September 2020, the Company entered into a Term Loan Agreement with CRG Partners IV L.P. and its affiliates for total borrowings of up to $60.0 million, or the Term Loan, and borrowed $50.0 million. The remaining $10.0 million of the Term Loan was available to the Company for borrowing until March 31, 2022 if the Company achieved a revenue-based milestone in 2021. The revenue-based milestone was not achieved, and the remaining $10.0 million of the Term Loan expired without being drawn. The Term Loan bears interest at a rate of 12.5% per year. Payments under the Term Loan are made quarterly with payment dates fixed at the end of each calendar quarter. Through December 31, 2020, the Company had the option to pay the entire interest paid-in-kind, or PIK, by increasing the principal of the Term Loan. From January 1, 2021 through June 30, 2025, the Company has the option to pay interest as follows: 7.5% per annum paid in cash and 5.0% per annum PIK by increasing the principal of the Term Loan. For the three months ended June 30, 2022, the Company elected the PIK option, increasing the principal of the Term Loan by $0.6 million. The Term Loan was interest-only through September 30, 2023, which could be extended through September 30, 2025 at the Company’s option if the Company completed its IPO on or prior September 30, 2023. In connection with closing the IPO, the Company extended the interest-only period to September 30, 2025. Following the interest-only period, principal payment is due in one installment on September 30, 2025. The Term Loan includes a fee upon repayment of the loan equal to 10% of the aggregate principal amount being prepaid or repaid, or the backend fee. As of June 30, 2022, the Term Loan had an annual effective interest rate of 15.66% per year. The Term Loan is collateralized by substantially all of the Company’s assets. The Term Loan Agreement contains customary representations and warranties, covenants, events of default and termination provisions. The financial covenants require that the Company achieve minimum annual revenue thresholds commencing in 2021 and maintain a minimum balance of cash and cash equivalents (see Note 1). In March 2022, the Term Loan was amended to reduce the minimum annual net revenue covenant to $43.0 million for the year ended December 31, 2022. The Company paid $1.0 million in fees to the lender and third parties which is reflected as a discount on the loan and is being accreted over the life of the loan using the effective interest method. Also, the Company issued warrants to the lender for a total of 346,823 shares of Series B’ redeemable convertible preferred stock. The warrants had a fair value of $0.6 million as of the issuance date, which was accounted for as debt issuance costs (see Note 8). During the three months ended June 30, 2022 and 2021, the Company recorded interest expense related to debt discount and debt issuance costs of the Term Loan of $0.1 million and $0.1 million, respectively. During the six months ended June 30, 2022 and 2021, the Company recorded interest expense related to debt discount and debt issuance costs of the Term Loan of $0.1 million and $0.1 million, respectively. Interest expense on the Term Loan was $1.9 million and $1.9 million during the three months ended June 30, 2022 and 2021, respectively. Interest expense on the Term Loan was $3.7 million and $3.7 million during the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, future minimum payments for the Term Loan are as follows (in thousands): Term Loan 2022 (remaining six months) $ 3,235 2023 6,417 2024 6,434 2025 60,495 Total 76,581 Less: Unamortized debt discount and issuance cost (1,034) Less: Unaccreted backend fee (3,642) Less: Interest (20,887) Term Loan $ 51,018 Paycheck Protection Program In April 2020, the Company received $4.0 million from a federal Small Business Administration loan under the Paycheck Protection Program, or the PPP Loan. The note bore interest at 1.0% per year on the outstanding principal amount and had a maturity date 24 months from the date of the note. No payments were due for the six-month period beginning on the date of the note. Payments of principal and interest were due over the following 18 months. The Small Business Administration modified the PPP Loan such that monthly payments of principal and interest were due from September 2021 through April 2022. In April 2021, the Company repaid its entire obligation under the PPP Loan amounting to $4.1 million, including principal of $4.0 million and interest of less than $0.1 million, using the proceeds from its IPO.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockOn April 26, 2021, upon the closing of the Company’s IPO, all outstanding redeemable convertible preferred stock automatically converted into 16,614,178 shares of common stock. There was no issued and outstanding redeemable convertible preferred stock as of June 30, 2022 and December 31, 2021.

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock Warrant Liability	6 Months Ended
	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
Redeemable Convertible Preferred Stock Warrant Liability	Redeemable Convertible Preferred Stock Warrant Liability On September 24, 2020, in connection with entering into the Term Loan Agreement, the Company issued CRG Partners IV L.P. and its affiliates warrants to purchase 346,823 shares of Series B’ redeemable convertible preferred stock at an exercise price of $6.51339 per share, or the Series B’ Warrants, which was accounted as debt issuance costs. The Series B’ Warrants would terminate at the earlier of the ten-year anniversary from the issuance date, the closing of the Company’s IPO or liquidation of the Company. These warrants had a net exercise provision under which their holders could, in lieu of payment of the exercise price in cash, surrender the warrant and receive a net amount of shares based on the fair market value of the Company’s stock at the time of exercise of the warrants after deduction of the aggregate exercise price. The Series B’ Warrants contained provisions for adjustment of the exercise price and number of shares issuable upon the exercise of warrants in the event of certain stock dividends, stock splits, reorganizations, reclassifications, and consolidations. The fair value of the Series B’ Warrants on the date of issuance of $0.6 million was recorded as a debt discount. Upon the closing of the IPO, the Series B’ Warrants were net exercised to 213,941 shares of Series B’ redeemable convertible preferred stock and subsequently converted into common stock on a one-to-one basis. Upon the closing of the IPO, the Company remeasured the Series B’ Warrants to fair value of $5.6 million, which was the intrinsic value of net exercised common stock, as according to the Series B’ Warrant agreements the Series B’ Warrants were to be automatically exercised upon the IPO and the expected term of the Series B’ Warrants was zero immediately before the closing of the IPO. Upon the closing of the IPO, the redeemable convertible preferred stock warrant liability was reclassified to additional paid-in capital. The change in fair value of $(2.1) million and $(5.2) million during the three and six months ended June 30, 2021 was recorded as a component of other income (expense), net in the condensed statements of operations and comprehensive loss.

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Common Stock	Common Stock The Company’s Amended and Restated Certificate of Incorporation authorizes the Company to issue 200,000,000 shares of $0.001 par value common stock. The holders of common stock are entitled to receive dividends whenever funds and assets are legally available and when declared by the Board of Directors. As of June 30, 2022 and December 31, 2021, no dividends had been declared. As of June 30, 2022 and December 31, 2021, the Company had reserved common stock for future issuance as follows: June 30, December 31, 2022 2021 Shares available for future grant under the 2021 Plan 1,350,745 2,132,750 Outstanding options under the 2021 Plan 3,547,590 3,038,970 Outstanding restricted stock units under the 2021 Plan 1,863,026 596,085 Common stock available for ESPP 567,481 470,169 Total 7,328,842 6,237,974

Stock-Based Incentive Compensat

Stock-Based Incentive Compensation Plans	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Incentive Compensation Plans	Stock-Based Incentive Compensation Plans A summary of shares available for grant under the Company’s 2021 Equity Incentive Plan, or the 2021 Plan, is as follows: Shares Available for Grant Shares available for grant as of January 1, 2022 2,132,750 Shares authorized 1,222,649 Granted/Awarded (2,127,294) Cancelled 117,007 Withheld for taxes 5,633 Shares available for grant as of June 30, 2022 1,350,745 A summary of stock option activity for the six months ended June 30, 2022 is set forth below: Options Outstanding Number of Shares Weighted-Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Balances as of January 1, 2022 3,038,970 $ 2.61 8.83 Granted 690,218 $ 7.83 Exercised (113,070) $ 0.03 Cancelled (68,528) $ 6.90 Balances at June 30, 2022 3,547,590 $ 3.62 8.58 Vested and exercisable at June 30, 2022 1,339,228 $ 1.86 8.18 Vested and expected to vest at June 30, 2022 3,547,590 $ 3.62 8.58 Early Exercise of Stock Options The terms of the Company’s 2020 Stock Plan, or the 2020 Plan, and the 2021 Plan, permit the exercise of options granted under the plans prior to vesting, subject to required approvals. The shares of common stock issued from the early exercise of unvested stock options are restricted and continue to vest over the original implied service period. The Company has the option to repurchase any unvested shares at the original purchase price upon any voluntary or involuntary termination. The shares purchased by the employees and non-employees pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be outstanding until those shares vest. The cash received in exchange for exercised and unvested shares related to stock options granted is recorded as a liability for the early exercise of stock options in accrued liabilities on the accompanying balance sheet and will be transferred into common stock and additional paid-in capital as the shares vest. As of June 30, 2022 and December 31, 2021, there were 125,726 and 174,171 shares of common stock, respectively, issued pursuant to early exercised options and subject to repurchase. Employee Stock Purchase Plan In April 2021, the Company adopted the 2021 Employee Stock Purchase Plan, or ESPP. The Company allows eligible employees to purchase shares of the Company's common stock through payroll deductions at a price equal to 85% of the lesser of the fair market value of the stock as of the first date or the ending date of each offering period, which is typically six months. There were 580,000 shares of common stock initially reserved for issuance under the ESPP. In January 2022, the number of shares of common stock available for issuance under the ESPP was increased by 244,529 shares as a result of the automatic evergreen increase provision in the ESPP. The ESPP offering periods and purchase periods are determined by the Company’s board of directors, or the Board. The first offering period was for 0.6 years beginning May 20, 2021 through December 6, 2021. The Company issued 109,831 shares under the ESPP for the year ended December 31, 2021. The second offering period was for six months beginning December 7, 2021 through June 6, 2022. The Company issued 147,217 shares under the ESPP for the three months ended June 30, 2022. As of June 30, 2022, 567,481 shares under the ESPP remain available for purchase. The Board authorized a new offering period of six months, which began on June 7, 2022 and runs through December 6, 2022. Restricted Stock Units Activity with respect to restricted stock units was as follows: Number of Shares Underlying Outstanding Restricted Stock Units Weighted Average Grant Date Fair Value Unvested, January 1, 2022 596,085 $ 22.06 Granted 1,437,076 $ 8.04 Vested (121,656) $ 23.59 Cancelled (48,479) $ 17.80 Unvested, June 30, 2022 1,863,026 $ 11.26 The Company recognized stock-based compensation as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of goods sold $ 163 $ 31 $ 273 $ 41 Research and development 748 309 1,188 346 Selling, general and administrative 1,692 763 2,630 918 Total stock-based compensation $ 2,603 $ 1,103 $ 4,091 $ 1,305 The above stock-based compensation expense related to the following equity-based awards (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Stock options and restricted stock units $ 2,491 $ 923 $ 3,843 $ 1,125 ESPP 112 180 248 180 Total stock-based compensation $ 2,603 $ 1,103 $ 4,091 $ 1,305 As of June 30, 2022, the total unrecognized stock-based compensation expense related to unvested stock options and restricted stock units was $25.6 million, which will be amortized on a straight-line basis over a weighted average remaining period of 3.2 years. As of June 30, 2022, the Company had unrecognized stock-based compensation expense relating to the ESPP awards of approximately $0.3 million, which is expected to be recognized over a weighted-average period of 0.4 years.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company did not record a federal or state income tax provision or benefit for the three and six months ended June 30, 2022 and 2021 as it has incurred net losses since inception. In addition, the net deferred tax assets generated from net operating losses are fully offset by a valuation allowance as the Company believes it is not more likely than not that the benefit will be realized. The Company accounts for the uncertainty in income taxes by utilizing a comprehensive model for the recognition, measurement, presentation and disclosure in financial statements of any uncertain tax positions that have been taken or are expected to be taken on an income tax return. There has been no changes in the estimated uncertain tax benefits recorded as of December 31, 2021.

Net Loss per Share Attributable

Net Loss per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss per Share Attributable to Common Stockholders	Net Loss per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except for share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator: Net loss attributable to common stockholders $ (12,690) $ (8,494) $ (24,151) $ (17,304) Denominator: Weighted-average common stock outstanding used to compute basic and diluted net loss per share 24,503,552 17,553,818 24,406,100 8,959,134 Net loss per share attributable to common stockholders, basic and diluted $ (0.52) $ (0.48) $ (0.99) $ (1.93) The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding because such securities have an antidilutive impact due to the Company’s net loss, in common stock equivalent shares: As of June 30, 2022 2021 Options to purchase common stock 3,547,590 3,108,859 Unvested early exercised common stock options 125,726 206,581 Shares committed under ESPP 141,864 35,613 Unvested restricted stock units 1,863,026 529,156 Total Shares 5,678,206 3,880,209

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn August 2022, the Company entered into an Exclusive Distribution Agreement, or the Distribution Agreement, with DIXI Medical USA Corp., or DIXI Medical, pursuant to which the Company will become the exclusive U.S. distributor of DIXI Medical’s product line. DIXI Medical is a subsidiary of a European company that pioneered the development of stereo electroencephalography electrodes. These electrodes are used in the epilepsy monitoring units of comprehensive epilepsy centers to determine where epileptic seizures originate. DIXI Medical will supply their products to the Company and provide the Company with ongoing related commercial support. In consideration for DIXI Medical’s ongoing commercial support, the Company will pay DIXI Medical $2.0 million in the fourth quarter of 2022 and $1.25 million in each of the fourth quarters of 2023 and 2024, for a total of $4.5 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Unaudited Interim Financial Information	Basis of Presentation The unaudited interim condensed financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, as defined by the Financial Accounting Standards Board, or the FASB. Unaudited Interim Financial Information The condensed balance sheet as of December 31, 2021 was derived from the Company’s audited financial statements, but does not include all disclosures required by GAAP. The accompanying unaudited condensed financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021, have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission, or the 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. Accordingly, these financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2021 and notes thereto, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 10, 2022. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s condensed financial position as of June 30, 2022 and condensed results of operations for the three and six months ended June 30, 2022 and 2021 and condensed cash flows for the six months ended June 30, 2022 and 2021 have been made. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2022.
Reverse Stock Split	Reverse Stock Split On April 9, 2021, the Company effected a 1-for-2.6 reverse stock split of its common stock and redeemable convertible preferred stock. The par value of the authorized stock was not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock and redeemable convertible preferred stock and related per share amounts contained in the accompanying financial statements have been retroactively revised to reflect the combined effect of all reverse stock splits for all periods presented.
Use of Estimates	Use of Estimates The preparation of unaudited interim condensed financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. The Company uses significant judgment when making estimates related to the valuation of its common stock prior to the IPO, and related stock-based compensation, the valuation of deferred tax assets and related valuation allowances, provision for excess and obsolete inventories, and the valuation of redeemable convertible preferred stock warrant liability. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.
Fair Value of Financial Instruments and Fair Value Measurements	Fair Value of Financial Instruments Carrying amounts of certain of the Company’s financial instruments, including cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximate fair value because of the short-term nature of these instruments. Short-term investments comprise available-for-sale debt securities, which are carried at fair value. The Company believes that its borrowings bear interest at the prevailing market rates for instruments with similar characteristics; accordingly, the carrying value of this instrument approximates its fair value. The redeemable convertible preferred stock warrant liability is carried at fair value based on unobservable market inputs. The Company determines the fair value of financial and non-financial assets and liabilities using the fair value hierarchy which establishes three levels of inputs that may be used to measure fair value (see Note 3). The Company measures certain financial assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Concentration of Credit Risk, and Other Risks and Uncertainties	Concentration of Credit Risk, and Other Risks and Uncertainties Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, short-term investments and accounts receivable to the extent of the amounts recorded on the balance sheet. The Company’s cash is invested in one major financial institution in the United States. Deposits in this financial institution may exceed federally insured limits. The Company’s cash equivalents are invested in money market funds. The Company’s accounts receivable are due from a variety of health care organizations in the United States. For the three and six months ended June 30, 2022 and 2021, there were no customers that represented 10% or more of revenue. As of June 30, 2022 and December 31, 2021, no customer represented 10% or more of the Company’s accounts receivable. The Company is subject to certain risks, including that its devices may not be approved or cleared or continue to be approved or cleared for marketing by governmental authorities or be successfully marketed for expanded indications. There can be no assurance that the Company’s products will achieve widespread adoption in the marketplace, nor can there be any assurance that existing devices or any future devices can be developed or manufactured at an acceptable cost and speed and with appropriate performance characteristics. The Company is also subject to risks common to companies in the medical device industry, including, but not limited to, new technological innovations, dependence on healthcare providers to prescribe initial implants and replacements, dependence upon third-party payors to provide adequate coverage and reimbursement, dependence on key personnel, single-source suppliers and vendors in connection with the manufacture of its products, concentration of Level 4 CECs and epileptologists, obtaining, maintaining, protecting, enforcing, and defending intellectual property rights and proprietary technology, product liability claims, legal proceedings, and compliance with government regulations. The Company’s medical devices require approvals or clearances from the U.S. Food and Drug Administration, or the FDA, or international regulatory agencies. In addition, in order to continue the Company’s operations, compliance with various federal and state laws is required. If approvals or clearances were withdrawn by the FDA for the Company’s current products or if such approvals or clearances were denied or delayed for future products, product updates, or expanded indications for use, it would have a material adverse impact on the Company.
Leases	Leases The Company leases its facilities and meets the requirements to account for these leases as operating leases. For the three and six months ended June 30, 2021, for facility leases that contain rent escalations or rent concession provisions, the Company recorded its lease expense during the lease term on a straight-line basis over the term of the lease. As of December 31, 2021, the Company recorded differences between the rent paid and the straight-line rent as a deferred rent liability. Leasehold improvements funded by landlord incentives or allowances were recorded as leasehold improvement assets and a corresponding deferred rent liability. The leasehold improvement asset is amortized over the lesser of the term of the lease or life of the asset. Upon adoption of ASC 842, Leases , on January 1, 2022, the Company determined if an arrangement is a lease, or contains a lease, at inception. Operating leases are included in operating lease right-of-use, or ROU, assets, operating lease liability, and operating lease liability, net of current portion on the Company’s condensed balance sheets. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment at commencement date in determining the present value of future payments. The ROU asset also includes any lease payments made to the lessor at or before the commencement date, minus lease incentives received, and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company elected certain practical expedients under ASC 842 which are: (i) to not record leases with an initial term of twelve months or less on the balance sheet; (ii) to combine the lease and non-lease components in determining the lease liabilities and right-of-use assets, and (iii) to carry forward prior conclusions about lease identification and classification.
Government Programs	Government Programs In May 2021, the Company was awarded a grant by the National Institutes of Health, or NIH, to support research of thalamocortical responsive neurostimulation for the treatment of Lennox-Gastaut Syndrome, a type of epilepsy. The award was issued for a five-year period and has a total budget of over $9.3 million, which includes approximately $5.5 million in funding for subawards to third party academic epilepsy centers that are collaborating on the study and are subinvestigators on the study funded by NIH. The subawardees are determined by NIH. The Company’s responsibility for the subawards is to submit the funding requests on behalf of the subawardees. The funding of subawards does not have any impact on the Company’s condensed financial statements. Funding was approved for the first year beginning June 1, 2021 and provides for reimbursement of qualified direct and indirect expenses in the amount of $0.8 million, including $0.4 million for subawards. Approvals of funds for years two through five are subject to the completion of certain milestones. On July 30, 2022, the Company received funding approval for year two in the amount of $2.6 million, which includes $1.6 million for subawards. For funds received under the NIH funding agreement, the Company recognizes a reduction in research and development expenses in an amount equal to the qualifying expenses incurred in each period up to the amount awarded by the NIH. Qualifying expenses incurred by the Company in advance of funding by the NIH are recorded within prepaid expenses and other current assets on the balance sheets. Through June 30, 2022, $0.4 million of qualifying expenses have been incurred and funded by the NIH related to the first year funding. As of June 30, 2022, the Company recorded prepaid expenses and other current assets of less than $0.1 million related to the second year funding.
Net Loss per Share Attributable to Common Stockholders	Net Loss per Share Attributable to Common Stockholders Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, stock options, common stock subject to repurchase related to early exercise of stock options, and restricted stock units are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities. The Company considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities, because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of the shares issued upon early exercise of stock options subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02 (Topic 842), Leases . ASU 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. This ASU provides a lessee with an option to not account for leases with a term of 12 months or less as leases in the scope of this ASU. This ASU also requires new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. This ASU should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , which allows entities to elect an optional transition method where entities may continue to apply the existing lease guidance during the comparative periods and apply the new lease requirements through a cumulative effect adjustment in the period of adoption rather than in the earliest period presented. In June 2020, the FASB issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities, which delayed the adoption dates for ASU 2016-02 for non-public entities to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is allowed. The Company adopted Topic 842 effective January 1, 2022 using a modified retrospective method and did not restate comparative periods. The Company recognized ROU assets of $6.1 million and lease liabilities of $7.5 million for its operating leases as of January 1, 2022. In addition, the amount of the Company’s deferred rent as of December 31, 2021 of $1.4 million was removed upon adoption. The adoption of these ASUs did not have any impact on the condensed statements of operations and comprehensive loss and condensed statements of cash flows. See Note 5 for more information related to the Company’s lease obligations. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which amends existing guidance on the impairment of financial assets and adds an impairment model that is based on expected losses rather than incurred losses and requires an entity to recognize as an allowance its estimate of expected credit losses for its financial assets. An entity will apply this guidance through a cumulative-effect adjustment to retained earnings upon adoption (a modified-retrospective approach) while a prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. For public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, adoption is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For SEC filers that are eligible to be smaller reporting companies and for all other entities, this ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its financial statements and related disclosures, and does not expect the standard will have a material impact on the Company’s financial statements and related disclosures.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities, Measured at Fair Value	The following table summarizes the Company’s financial assets (cash equivalents, marketable securities and liabilities) at fair value as of June 30, 2022 (in thousands): Fair Value as of June 30, 2022 Basis for Fair Value Measurements (Level 1) (Level 2) (Level 3) Assets: Money market funds, included in cash and cash equivalents $ 5,253 $ 5,253 $ — $ — Fixed income mutual funds, included in short-term investments 86,709 86,709 — — Total $ 91,962 $ 91,962 $ — $ — The following table summarizes the Company’s financial assets (cash equivalents, marketable securities and liabilities) at fair value as of December 31, 2021 (in thousands): Fair Value as of December 31, 2021 Basis for Fair Value Measurements (Level 1) (Level 2) (Level 3) Assets: Money market funds, included in cash and cash equivalents $ 16,498 $ 16,498 $ — $ — Fixed income mutual funds, included in short-term investments 96,397 96,397 — — Total $ 112,895 $ 112,895 $ — $ —
Schedule of Debt Securities, Available-for-sale	The following is a summary of the Company’s available-for-sale debt securities (in thousands): June 30, December 31, 2022 2021 Cost basis $ 88,160 $ 96,702 Unrealized loss (1,451) (305) Fair value $ 86,709 $ 96,397
Schedule of Fair Value Liabilities Measured at Level 3	The change in fair value of the redeemable convertible preferred stock warrant liability is summarized below (in thousands): Redeemable Convertible Preferred Stock Warrant Liability Fair value as of January 1, 2021 $ 369 Change in fair value included in other income (expense), net 5,236 Net exercise of redeemable convertible preferred stock warrants (5,605) Fair value as of June 30, 2021 $ —

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in thousands): June 30, December 31, 2022 2021 Raw materials $ 2,463 $ 2,232 Work-in-process 747 879 Finished goods 5,209 4,711 Total $ 8,419 $ 7,822
Property, Plant and Equipment	Property and equipment, net consists of the following (in thousands): June 30, December 31, 2022 2021 Machinery, equipment, furniture and fixtures $ 4,207 $ 3,742 Computer equipment and software 2,952 2,916 Leasehold improvements 2,402 2,402 9,561 9,060 Less: Accumulated depreciation (8,610) (8,457) Property and equipment, net $ 951 $ 603
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): June 30, December 31, 2022 2021 Payroll and related expenses $ 5,254 $ 6,547 Inventory-raw materials 355 251 Professional fees 419 109 Deferred rent, current — 490 Other 934 526 Total accrued liabilities $ 6,962 $ 7,923

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Minimum Annual Lease Commitments	The Company’s future minimum lease payments under the non-cancellable operating lease as of December 31, 2021 were as follows (in thousands): December 31, 2022 $ 3,172 2023 3,267 2024 1,666 Total $ 8,105
Schedule of Maturities of Operating Lease Liabilities	The maturities of operating lease liabilities as of June 30, 2022 are as follows (in thousands): June 30, 2022 (remaining six months) $ 1,601 2023 3,267 2024 1,666 Total undiscounted lease payments 6,534 Less: imputed interest 375 Total operating lease liability 6,159 Less: current portion 2,936 Operating lease liability, net of current portion $ 3,223

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	As of June 30, 2022, future minimum payments for the Term Loan are as follows (in thousands): Term Loan 2022 (remaining six months) $ 3,235 2023 6,417 2024 6,434 2025 60,495 Total 76,581 Less: Unamortized debt discount and issuance cost (1,034) Less: Unaccreted backend fee (3,642) Less: Interest (20,887) Term Loan $ 51,018

Common Stock (Tables)

Common Stock (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Stock by Class	As of June 30, 2022 and December 31, 2021, the Company had reserved common stock for future issuance as follows: June 30, December 31, 2022 2021 Shares available for future grant under the 2021 Plan 1,350,745 2,132,750 Outstanding options under the 2021 Plan 3,547,590 3,038,970 Outstanding restricted stock units under the 2021 Plan 1,863,026 596,085 Common stock available for ESPP 567,481 470,169 Total 7,328,842 6,237,974

Stock-Based Incentive Compens_2

Stock-Based Incentive Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Available for Grant	A summary of shares available for grant under the Company’s 2021 Equity Incentive Plan, or the 2021 Plan, is as follows: Shares Available for Grant Shares available for grant as of January 1, 2022 2,132,750 Shares authorized 1,222,649 Granted/Awarded (2,127,294) Cancelled 117,007 Withheld for taxes 5,633 Shares available for grant as of June 30, 2022 1,350,745
Summary of Stock Option Activity	A summary of stock option activity for the six months ended June 30, 2022 is set forth below: Options Outstanding Number of Shares Weighted-Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Balances as of January 1, 2022 3,038,970 $ 2.61 8.83 Granted 690,218 $ 7.83 Exercised (113,070) $ 0.03 Cancelled (68,528) $ 6.90 Balances at June 30, 2022 3,547,590 $ 3.62 8.58 Vested and exercisable at June 30, 2022 1,339,228 $ 1.86 8.18 Vested and expected to vest at June 30, 2022 3,547,590 $ 3.62 8.58
Schedule of Restricted Stock Units	Activity with respect to restricted stock units was as follows: Number of Shares Underlying Outstanding Restricted Stock Units Weighted Average Grant Date Fair Value Unvested, January 1, 2022 596,085 $ 22.06 Granted 1,437,076 $ 8.04 Vested (121,656) $ 23.59 Cancelled (48,479) $ 17.80 Unvested, June 30, 2022 1,863,026 $ 11.26
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The Company recognized stock-based compensation as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of goods sold $ 163 $ 31 $ 273 $ 41 Research and development 748 309 1,188 346 Selling, general and administrative 1,692 763 2,630 918 Total stock-based compensation $ 2,603 $ 1,103 $ 4,091 $ 1,305 The above stock-based compensation expense related to the following equity-based awards (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Stock options and restricted stock units $ 2,491 $ 923 $ 3,843 $ 1,125 ESPP 112 180 248 180 Total stock-based compensation $ 2,603 $ 1,103 $ 4,091 $ 1,305

Net Loss per Share Attributab_2

Net Loss per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except for share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator: Net loss attributable to common stockholders $ (12,690) $ (8,494) $ (24,151) $ (17,304) Denominator: Weighted-average common stock outstanding used to compute basic and diluted net loss per share 24,503,552 17,553,818 24,406,100 8,959,134 Net loss per share attributable to common stockholders, basic and diluted $ (0.52) $ (0.48) $ (0.99) $ (1.93)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding because such securities have an antidilutive impact due to the Company’s net loss, in common stock equivalent shares: As of June 30, 2022 2021 Options to purchase common stock 3,547,590 3,108,859 Unvested early exercised common stock options 125,726 206,581 Shares committed under ESPP 141,864 35,613 Unvested restricted stock units 1,863,026 529,156 Total Shares 5,678,206 3,880,209

The Company (Details)

The Company (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended		12 Months Ended
	Apr. 26, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Proceeds from issuance initial public offering		$ 0	$ 109,089
Common stock authorized (in shares)	200,000,000	200,000,000			200,000,000
Common stock par value (in dollars per share)	$ 0.001	$ 0.001			$ 0.001
Shares authorized (in shares)	10,000,000	10,000,000			10,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001			$ 0.001
Accumulated deficit		$ 447,922			$ 423,771
Net cash used in operating activities		22,051	$ 11,950
Cash, cash equivalents, and short-term investments		$ 92,400
Forecast
Finite-Lived Intangible Assets [Line Items]
Minimum annual net revenue				$ 43,000
Minimum cash and cash equivalents required after completion of IPO				$ 5,000
Redeemable Convertible Preferred Stock Converted Into Common Stock
Finite-Lived Intangible Assets [Line Items]
Conversion of stock, shares issued (in shares)	16,614,178
Redeemable Convertible Preferred Stock Converted Into Warrants To Purchase Series B' Convertible Preferred Stock
Finite-Lived Intangible Assets [Line Items]
Conversion of stock, shares issued (in shares)	346,823
Redeemable Convertible Preferred Stock Converted Into Warrants Exercised To Series B' Convertible Preferred Stock
Finite-Lived Intangible Assets [Line Items]
Conversion of stock, shares issued (in shares)	213,941
Number of shares of common stock issued upon conversion of one share of redeemable convertible preferred stock (in shares)	1
Redeemable Convertible Preferred Stock Converted Into Warrants To Purchase Common Stock
Finite-Lived Intangible Assets [Line Items]
Conversion of stock, shares issued (in shares)	219
Redeemable Convertible Preferred Stock Converted Into Warrants Exercised To Common Stock
Finite-Lived Intangible Assets [Line Items]
Conversion of stock, shares issued (in shares)	185
IPO
Finite-Lived Intangible Assets [Line Items]
Number of shares issued in transaction (in shares)	6,900,000
Sale of stock (in dollars per share)	$ 17
Proceeds from issuance initial public offering	$ 117,300
Consideration received on transaction	105,500
Sale of stock, underwriting discounts	8,200
Sale of stock, offering costs	$ 3,600
Over-Allotment Option
Finite-Lived Intangible Assets [Line Items]
Number of shares issued in transaction (in shares)	900,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands			1 Months Ended	6 Months Ended
	Jul. 30, 2022 USD ($)	Apr. 09, 2021	May 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Reverse stock split, conversion ratio		0.3846
Grant period (in years)			5 years
Research and development arrangement with federal government, total budget			$ 9,300
Research and development arrangement with federal government, funding for subawards			5,500
Approved funding, first year			800
Approved funding, including subawards, first year			$ 400
Prepaid expenses and other current assets				$ 3,160		$ 2,319
Operating lease right-of-use asset				4,986	$ 6,100	0
Operating lease liabilities				6,159	$ 7,500
Deferred rent						$ 1,400
Subsequent Event
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Approval for funding, year two	$ 2,600
Approval for funding, including subawards, year two	$ 1,600
Additional Funding Agreement Terms
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Compensation earned				400
Prepaid expenses and other current assets				$ 100

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Money market funds, included in cash and cash equivalents	$ 5,253	$ 16,498
Fixed income mutual funds, included in short-term investments	86,709	96,397
Total	91,962	112,895
Fair Value, Inputs, Level 1
Assets:
Money market funds, included in cash and cash equivalents	5,253	16,498
Fixed income mutual funds, included in short-term investments	86,709	96,397
Total	91,962	112,895
Fair Value, Inputs, Level 2
Assets:
Money market funds, included in cash and cash equivalents	0	0
Fixed income mutual funds, included in short-term investments	0	0
Total	0	0
Fair Value, Inputs, Level 3
Assets:
Money market funds, included in cash and cash equivalents	0	0
Fixed income mutual funds, included in short-term investments	0	0
Total	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure	$ 0	$ 0
Redeemable Convertible Preferred Stock Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants outstanding (in shares)	0

Fair Value Measurements - Avail

Fair Value Measurements - Available for Sale Debt Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Cost basis	$ 88,160	$ 96,702
Unrealized loss	(1,451)	(305)
Fair value	$ 86,709	$ 96,397

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value of Level 3 Financial Instruments (Details) - Redeemable Convertible Preferred Stock Warrant Liability $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net exercise of redeemable convertible preferred stock warrants	$ (5,605)
Fair Value, Inputs, Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	369
Change in fair value included in other income (expense), net	5,236
Balance at end of period	$ 0

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 2,463	$ 2,232
Work-in-process	747	879
Finished goods	5,209	4,711
Inventory	$ 8,419	$ 7,822

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 9,561		$ 9,561		$ 9,060
Less: Accumulated depreciation	(8,610)		(8,610)		(8,457)
Property and equipment, net	951		951		603
Depreciation	100	$ 100	153	$ 142
Machinery, equipment, furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,207		4,207		3,742
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,952		2,952		2,916
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,402		$ 2,402		$ 2,402

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Payroll and related expenses	$ 5,254	$ 6,547
Inventory-raw materials	355	251
Professional fees	419	109
Deferred rent, current	0	490	$ 300
Other	934	526
Total accrued liabilities	$ 6,962	$ 7,923

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)

1 Months Ended

2 Months Ended

3 Months Ended

6 Months Ended

Oct. 18, 2021 plaintiff

May 31, 2018 USD ($)

Jun. 30, 2020 USD ($)

Jun. 30, 2022 USD ($)

Jun. 30, 2021 USD ($)

Jun. 30, 2022 USD ($)

Jun. 30, 2021 USD ($)

Dec. 31, 2021 USD ($)

Apr. 01, 2021 installment

Oct. 01, 2020

May 31, 2019 USD ($)

Aug. 31, 2011 USD ($)

Loss Contingencies [Line Items]

Renewal term

5 years

Percent rental payment deferred

50%

Deferred rent, current

$ 300,000

$ 0

$ 0

$ 490,000

Deferred rent, interest rate, annual rate

8%

Number of deferred rent installments | installment

3

Operating leases, rent expense

$ 700,000

$ 1,400,000

Deferred rent credit

1,400,000

Operating lease cost

$ 700,000

$ 1,300,000

Operating lease term

2 years

2 years

Operating lease percent

6.30%

6.30%

Operating lease, payments

$ 1,600,000

Indemnification liability accrued for officers and directors

$ 0

0

0

Accrual for contingent liabilities

$ 0

$ 0

$ 0

James Jacoby et al. v. NeuroPace, Inc., et al. [Member]

Loss Contingencies [Line Items]

Number of plaintiffs | plaintiff

3

Lease Facility

Loss Contingencies [Line Items]

Face amount

$ 200,000

$ 200,000

$ 700,000

$ 900,000

Minimum

Loss Contingencies [Line Items]

Annual rental payments

$ 2,900,000

Maximum

Loss Contingencies [Line Items]

Annual rental payments

$ 3,300,000

Commitments and Contingencies_2

Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 3,172
2023	3,267
2024	1,666
Total undiscounted lease payments	$ 8,105

Commitments and Contingencies_3

Commitments and Contingencies - Operating Lease Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
2022 (remaining six months)	$ 1,601
2023	3,267
2024	1,666
Total undiscounted lease payments	6,534
Less: imputed interest	375
Total operating lease liability	6,159	$ 7,500
Less: current portion	2,936		$ 0
Operating lease liability, net of current portion	$ 3,223		$ 0

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2022	Apr. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Apr. 26, 2021	Sep. 30, 2020	Sep. 24, 2020	Apr. 30, 2020
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs					$ 128,000	$ 142,000
Interest expense					$ 3,700,000	$ 3,700,000
2020 Term Loans
Debt Instrument [Line Items]
Face amount								$ 50,000,000
Unused borrowing capacity								$ 10,000,000
Interest rate								12.50%
Redemption fee, percent								10%
Effective percentage			15.66%		15.66%
Minimum annual net revenue	$ 43,000,000
Amortization of debt discount and issuance costs			$ 100,000	$ 100,000
Interest expense			1,900,000	$ 1,900,000
2020 Term Loans | Series B Redeemable Convertible Preferred Stock
Debt Instrument [Line Items]
Backend fee								$ 1,000,000
Warrants outstanding (in shares)									346,823
Warrant liability, noncurrent							$ 5,600,000		$ 600,000
2020 Term Loans | Payment In Cash
Debt Instrument [Line Items]
Interest rate								7.50%
2020 Term Loans | Payment in Kind (PIK) Note
Debt Instrument [Line Items]
Face amount			$ 600,000		$ 600,000
Interest rate								5%
2020 Term Loans | Maximum
Debt Instrument [Line Items]
Face amount								$ 60,000,000
Paycheck Protection Program
Debt Instrument [Line Items]
Face amount										$ 4,000,000
Interest rate										1%
Extinguishment of debt		$ 4,100,000
Repurchased face amount		4,000,000
Interest payment		$ 100,000

Debt - Maturities of Debt (Deta

Debt - Maturities of Debt (Details) - Term Loan $ in Thousands	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
2022 (remaining six months)	$ 3,235
2023	6,417
2024	6,434
2025	60,495
Total	76,581
Less: Unamortized debt discount and issuance cost	(1,034)
Less: Unaccreted backend fee	(3,642)
Less: Interest	(20,887)
Term Loan	$ 51,018

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock - Additional Information (Details) - shares	Apr. 26, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, shares issued (in shares)		0	0
Redeemable convertible preferred stock, shares outstanding (in shares)		0	0	0	16,614,178	16,614,178
Redeemable Convertible Preferred Stock Converted Into Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued (in shares)	16,614,178

Redeemable Convertible Prefer_4

Redeemable Convertible Preferred Stock Warrant Liability - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 26, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 24, 2020
Class of Warrant or Right [Line Items]
Change in fair value			$ 0	$ (5,236)
Redeemable Convertible Preferred Stock Converted Into Warrants Exercised To Series B' Convertible Preferred Stock
Class of Warrant or Right [Line Items]
Conversion of stock, shares issued (in shares)	213,941
Number of shares of common stock issued upon conversion of one share of redeemable convertible preferred stock (in shares)	1
Series B Redeemable Convertible Preferred Stock | 2020 Term Loans
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)					346,823
Exercise price of warrant (in dollars per share)					$ 6.51339
Warrants term					10 years
Warrant liability, noncurrent	$ 5,600				$ 600
Change in fair value		$ (2,100)		$ (5,200)

Common Stock (Details)

Common Stock (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Apr. 26, 2021
Class of Stock [Line Items]
Common stock authorized (in shares)	200,000,000	200,000,000	200,000,000
Common stock par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Dividends declared cash	$ 0	$ 0
Common stock reserved for future issuance (in shares)	7,328,842	6,237,974
Shares available for future grant under the 2021 Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	1,350,745	2,132,750
Outstanding options under the 2021 Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	3,547,590	3,038,970
Outstanding restricted stock units under the 2021 Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	1,863,026	596,085
Common stock available for ESPP
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	567,481	470,169

Stock-Based Incentive Compens_3

Stock-Based Incentive Compensation Plans - Available for Grant (Details) - 2021 Equity Incentive Plan	6 Months Ended
	Jun. 30, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Available for Grant [Roll Forward]
Shares available for grant, beginning balance (in shares)	2,132,750
Shares authorized (in shares)	1,222,649
Granted/Awarded (in shares)	(2,127,294)
Cancelled (in shares)	117,007
Withheld for taxes (in shares)	5,633
Shares available for grant, ending balance (in shares)	1,350,745

Stock-Based Incentive Compens_4

Stock-Based Incentive Compensation Plans - Summary of Stock Option Activity (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Number of Shares
Number of shares, beginning balance (in shares) | shares	3,038,970
Options granted (in shares) | shares	690,218
Options exercised (in shares) | shares	(113,070)
Options cancelled (in shares) | shares	(68,528)
Number of shares, ending balance (in shares) | shares	3,547,590	3,038,970
Vested and exercisable (in shares) | shares	1,339,228
Vested and expected to vest (in shares) | shares	3,547,590
Weighted-Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 2.61
Options granted (in dollar per share) | $ / shares	7.83
Options exercised (in dollar per share) | $ / shares	0.03
Options cancelled (in dollar per share) | $ / shares	6.90
Ending balance (in dollars per share) | $ / shares	3.62	$ 2.61
Vested and exercisable (in dollars per share) | $ / shares	1.86
Vested and expected to vest (in dollars per share) | $ / shares	$ 3.62
Weighted Average Remaining Contractual Term (in Years)
Balance	8 years 6 months 29 days	8 years 9 months 29 days
Vested and exercisable	8 years 2 months 4 days
Vested and expected to vest	8 years 6 months 29 days

Stock-Based Incentive Compens_5

Stock-Based Incentive Compensation Plans - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended			7 Months Ended	12 Months Ended	13 Months Ended
	Apr. 30, 2021	Jun. 30, 2022	Dec. 06, 2022	Jun. 30, 2022	Jun. 06, 2022	Dec. 06, 2021	Dec. 31, 2021	Apr. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, subject to repurchase (in shares)		125,726		125,726			174,171
ESPP discount percent	85%
ESPP, length of offering period								6 months
Common stock reserved for future issuance (in shares)		7,328,842		7,328,842			6,237,974
Unrecognized stock-based compensation expense		$ 25.6		$ 25.6
Period for recognition				3 years 2 months 12 days
2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	580,000							580,000
Shares authorized (in shares)	244,529
Offering period					6 months	7 months 6 days
Issuance of shares pursuant to Employee Stock Purchase Plan (in shares)		147,217					109,831
Number of shares available for grant (in shares)		567,481		567,481
Period for recognition				4 months 24 days
Cost not yet recognized, amount		$ 0.3		$ 0.3
2021 Employee Stock Purchase Plan | Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Offering period			6 months

Stock-Based Incentive Compens_6

Stock-Based Incentive Compensation Plans - Summary of Restricted Stock Units (Details) - Unvested restricted stock units	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares Underlying Outstanding Restricted Stock Units
Unvested, January 1, 2022 (in shares) | shares	596,085
Granted (in shares) | shares	1,437,076
Vested (in shares) | shares	(121,656)
Cancelled (in shares) | shares	(48,479)
Unvested, March 31, 2022 (in shares) | shares	1,863,026
Weighted Average Grant Date Fair Value
Unvested, Weighted Average Grant Date Fair Value, beginning balance (in dollars per share) | $ / shares	$ 22.06
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	8.04
Vested (in dollars per share) | $ / shares	23.59
Cancelled (in dollars per share) | $ / shares	17.80
Unvested, Weighted Average Grant Date Fair Value, ending balance (in dollars per share) | $ / shares	$ 11.26

Stock-Based Incentive Compens_7

Stock-Based Incentive Compensation Plans - Summary of Recognized Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 2,603	$ 1,103	$ 4,091	$ 1,305
Stock options and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	2,491	923	3,843	1,125
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	112	180	248	180
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	163	31	273	41
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	748	309	1,188	346
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 1,692	$ 763	$ 2,630	$ 918

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0	$ 0	$ 0	$ 0

Net Loss per Share Attributab_3

Net Loss per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss attributable to common stockholders	$ (12,690)	$ (8,494)	$ (24,151)	$ (17,304)
Denominator:
Weighted-average common stock outstanding used to compute basic net loss per share (in shares)	24,503,552	17,553,818	24,406,100	8,959,134
Weighted-average common stock outstanding used to compute diluted net loss per share (in shares)	24,503,552	17,553,818	24,406,100	8,959,134
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.52)	$ (0.48)	$ (0.99)	$ (1.93)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.52)	$ (0.48)	$ (0.99)	$ (1.93)

Net Loss per Share Attributab_4

Net Loss per Share Attributable to Common Stockholders - Schedule of Potentially Dilutive Securities Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares (in shares)	5,678,206	3,880,209
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares (in shares)	3,547,590	3,108,859
Unvested early exercised common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares (in shares)	125,726	206,581
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares (in shares)	141,864	35,613
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares (in shares)	1,863,026	529,156

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Thousands	Aug. 11, 2022 USD ($)
Subsequent Event [Line Items]
Purchase obligation, to be paid, remainder of fiscal year	$ 2,000
Purchase obligation, to be paid in 2023	1,250
Purchase obligation, to be paid in 2024	1,250
Purchase obligation, total	$ 4,500