G1 Therapeutics (GTHX) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Trading Symbol	GTHX
Entity Registrant Name	G1 THERAPEUTICS, INC.
Entity Central Index Key	0001560241
Current Fiscal Year End Date	--12-31
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,705,532
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-38096
Entity Address, Address Line One	700 Park Offices Drive
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Research Triangle Park
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27709
City Area Code	(919)
Local Phone Number	213-9835
Entity Tax Identification Number	26-3648180
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Balance Sheets (unaud

Condensed Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 183,020	$ 221,186
Restricted cash	63	63
Accounts Receivable	7,615	5,688
Inventories	7,860	3,471
Prepaid expenses and other current assets	9,778	13,157
Total current assets	208,336	243,565
Property and equipment, net	1,898	2,013
Restricted cash	312	312
Operating lease assets	6,775	7,035
Other assets	918	1,169
Total assets	218,239	254,094
Current liabilities
Accounts payable	11,018	2,897
Accrued expenses	22,577	23,180
Deferred revenue	17	31
Other current liabilities	1,371	1,505
Total current liabilities	34,983	27,613
Loan payable	75,646	75,190
Deferred revenue	1,000	1,000
Operating lease liabilities	6,478	6,750
Total liabilities	118,107	110,553
Stockholders’ equity
Common stock, $0.0001 par value, 120,000,000 shares authorized as of March 31, 2022, and December 31, 2021; 42,732,198 and 42,588,814 shares issued as of March 31, 2022, and December 31, 2021, respectively; 42,705,532 and 42,562,148 shares outstanding as of March 31, 2022, and December 31, 2021, respectively	4	4
Treasury stock, 26,666 shares as of March 31, 2022, and December 31, 2021	(8)	(8)
Additional paid-in capital	733,787	728,004
Accumulated deficit	(633,651)	(584,459)
Total stockholders’ equity	100,132	143,541
Total liabilities and stockholders' equity	$ 218,239	$ 254,094

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) (unaudited) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares, issued	42,732,198	42,588,814
Common stock, shares, outstanding	42,705,532	42,562,148
Treasury stock, shares	26,666	26,666

Condensed Statements of Operati

Condensed Statements of Operations (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Total revenues	$ 6,902,000	$ 14,218,000
Operating expenses:
Cost of goods sold	669,000	243,000
Research and development	26,305,000	16,540,000
Selling, general and administrative	26,709,000	22,970,000
Total operating expenses	53,683,000	39,753,000
Loss from operations	(46,781,000)	(25,535,000)
Other income (expense):
Interest income	9,000	19,000
Interest expense	(2,265,000)	(748,000)
Other income (expense)	(155,000)	(40,000)
Total other income (expense), net	(2,411,000)	(769,000)
Loss before income taxes	(49,192,000)	(26,304,000)
Income tax expense	0	138,000
Net loss	$ (49,192,000)	$ (26,442,000)
Net loss per share, basic and diluted	$ (1.15)	$ (0.65)
Weighted average common shares outstanding, basic and diluted	42,687,201	40,700,827
Product Sales, Net
Revenues:
Total revenues	$ 5,480,000	$ 609,000
License Revenue
Revenues:
Total revenues	$ 1,422,000	$ 13,609,000

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2020	$ 177,351	$ 4	$ (8)	$ 613,462	$ (436,107)
Balance (in shares) at Dec. 31, 2020		38,140,756	(26,666)
Public offering (ATM)	86,378			86,378
Public offering (ATM), shares		3,513,027
Exercise of common stock options	2,264			2,264
Exercise of common stock options (in shares)		388,857
Stock-based compensation	5,892			5,892
Net loss during quarter	(26,442)				(26,442)
Balance at Mar. 31, 2021	245,443	$ 4	$ (8)	707,996	(462,549)
Balance (in shares) at Mar. 31, 2021		42,042,640	(26,666)
Balance at Dec. 31, 2021	143,541	$ 4	$ (8)	728,004	(584,459)
Balance (in shares) at Dec. 31, 2021		42,588,814	(26,666)
Exercise of common stock options	$ 18			18
Exercise of common stock options (in shares)	27,333	27,333
Restricted stock units vested		116,051
Stock-based compensation	$ 5,765			5,765
Net loss during quarter	(49,192)				(49,192)
Balance at Mar. 31, 2022	$ 100,132	$ 4	$ (8)	$ 733,787	$ (633,651)
Balance (in shares) at Mar. 31, 2022		42,732,198	(26,666)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (49,192)	$ (26,442)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation	5,765	5,892
Depreciation and amortization	115	120
Amortization of debt issuance costs	541	264
Non-cash interest expense	599	169
Non-cash equity interest, net	166	48
Change in operating assets and liabilities
Accounts receivable	(1,927)	(4,811)
Inventories	(4,389)	(1,427)
Prepaid expenses and other assets	3,639	(254)
Accounts payable	8,121	(953)
Accrued expenses and other liabilities	(1,608)	597
Deferred revenue	(14)	(83)
Net cash used in operating activities	(38,184)	(26,880)
Cash flows from financing activities
Proceeds from stock options exercised	18	2,264
Proceeds from loan agreement		10,000
Payments of debt issuance costs		(100)
Proceeds from public offering, net of underwriting fees and commissions		86,429
Payment of public offering costs		(51)
Net cash provided by financing activities	18	98,542
Net change in cash, cash equivalents and restricted cash	(38,166)	71,662
Cash, cash equivalents and restricted cash
Beginning of period	221,561	207,806
End of period	183,395	279,468
Supplemental disclosure of cash flow information
Cash paid for interest	$ 1,716	483
Non-cash operating, investing and financing activities
Upfront project costs and other current assets in accounts payable and accrued expenses		$ 2,164

Business Description

Business Description	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business Description	1. Business Description G1 Therapeutics, Inc. (the “Company” or “G1”) is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel small molecule therapeutics for the treatment of patients with cancer. The Company’s first U.S. Food and Drug Administration (“FDA”)-approved product, COSELA™ (trilaciclib) is the first and only therapy indicated to proactively help protect bone marrow from the damage of chemotherapy (myeloprotection) and is the first innovation in managing myelosuppression in decades. Trilaciclib was developed from a technology platform that targets key cellular pathways including transient arrest of the cell cycle at the G1 phase, prior to the beginning of DNA replication. Controlled administration and clean G1 arrest reduce hematologic adverse events (“AEs”) caused by cytotoxic therapy and may increase the ability to receive longer treatment durations. Transient CDK4/6 inhibition also modulates multiple immune functions while allowing beneficial T cell proliferation which may improve patients’ anti-tumor immune responses. The Company is exploring the use of trilaciclib in a variety of trials across multiple tumor types and treatment combinations to optimize these dual benefits of myeloprotection and improved anti-tumor efficacy for patients globally. The Company uses “COSELA” when referring to its FDA approved drug and “trilaciclib” when referring to the development of COSELA for additional indications. Product Portfolio The Company’s lead compound, trilaciclib, is a first-in-class therapy designed to help protect against chemotherapy-induced myelosuppression. Trilaciclib helps protect hematopoietic stem and progenitor cells (“HSPCs”) in the bone marrow by transiently inhibiting CDK4/6 leading to a temporary arrest of susceptible host cells during chemotherapy in patients. This reduces the duration and severity of neutropenia and other myelosuppressive consequences of chemotherapy. In addition, trilaciclib may improve anti-tumor efficacy when administered as combination treatment in patients by increasing their ability to receive more cytotoxic therapy, protecting their immune systems from damage caused by cytotoxic therapy, and improving their immune responses by modulating multiple immune functions while also allowing beneficial T cell proliferation. On February 12, 2021, trilaciclib (COSELA™) was approved by the FDA to decrease the incidence of chemotherapy-induced myelosuppression in adult patients when administered prior to a platinum/etoposide-containing regimen or topotecan-containing regimen for extensive small cell lung cancer (“ES-SCLC”). The Company continues to explore these dual benefits of myeloprotection and anti-tumor efficacy across multiple clinical trials. The Company is also executing on its tumor-agnostic strategy to evaluate the potential benefits of trilaciclib to patients with other tumors and to generate new data for trilaciclib in a variety of cytotoxic settings and treatment combinations to maximize its potential for patients in existing and future treatment paradigms. The Company currently has five on-going clinical trials: a Phase 3 pivotal trial in 1L colorectal cancer (“CRC”), a Phase 3 pivotal trial in 1L metastatic triple negative breast cancer (“mTNBC”), a Phase 2 trial in 1L bladder cancer with chemotherapy induction and checkpoint inhibitor maintenance, a Phase 2 trial in combination with an antibody-drug conjugate (“ADC”) in 2L/3L mTNBC, and a Phase 2 trial in neoadjuvant TNBC designed to validate trilaciclib’s immune-based mechanism of action (“MOA”). These studies will evaluate trilaciclib’s dual benefits of proactive multi-lineage myeloprotection and anti-tumor efficacy across tumor types and treatment combinations and will help inform the design of future additional pivotal studies. The Company is also conducting extensive preclinical work to assess the additive/synergistic potential of trilaciclib with a variety of new and emerging therapeutic agents that may be pursued as combination treatments in future clinical trials. Trilaciclib Product Portfolio Candidate Indication Current Status Timing of Endpoints Development & (all indications) trilaciclib 1L metastatic Colorectal cancer (CRC) Registrational trial (enrolling) 1Q 2023 Primary: myeloprotection* Secondary: ORR*, PFS/OS, PRO G1 Therapeutics owns all global development and commercial rights across all indications, with the exception of Greater China (Simcere) 1L metastatic Triple negative breast cancer (mTNBC) Registrational trial (enrolling) 2H 2023 Primary: OS* Secondary: PRO, myeloprotection, PFS/ORR 1L Bladder cancer (mUC) Phase 2 trial (enrolling) 4Q 2022 Primary: PFS Secondary: ORR*, OS, myeloprotection*, others Antibody-drug conjugate (ADC) combination trial in mTNBC Phase 2 trial (enrolling) 4Q 2022 Primary: PFS Secondary: ORR*, OS, myeloprotection*, others Mechanism of action trial in early stage neoadjuvant TNBC Phase 2 trial (enrolling) 4Q 2022 Primary: Immune-based MOA* Secondary: pCR, immune response, others PFS=progression-free survival; OS=overall survival; PRO=patient reported outcome; ORR=overall response rate; pCR=pathological complete response; MOA=mechanism of action. *Initial results: Phase 3 colorectal cancer trial: myeloprotection and ORR endpoints; Phase 3 1L mTNBC trial: interim results for OS; Phase 2 bladder cancer trial: ORR and myeloprotection endpoints; Phase 2 trial in combination with the ADC Trodelvy: ORR and myeloprotection endpoints; Phase 2 trial to confirm the immune-based mechanism of action (MOA) of trilaciclib in early-stage neoadjuvant TNBC: immune endpoints (e.g., CD8+ / Treg ratio) The Company also has an active investigator Initiated Studies (“ISS”) program. An ISS is a study that is developed and conducted by a qualified physician external to the Company who assumes full responsibility for the conduct of the study. The Company supports investigator sponsored studies that align with its areas of scientific interest. The Company out-licensed global rights to lerociclib, an internally discovered and differentiated oral CDK4/6 inhibitor designed to enable more effective combination treatment strategies across multiple oncology indications. In addition, the company out-licensed global rights to an internally discovered cyclin dependent kinase 2 (“CDK2”) inhibitor for all human and veterinary uses. After completing the evaluation of the Company’s rintodestrant partnering options and recent data in the highly competitive oral SERD space, the Company has made the strategic decision to discontinue the program, including all clinical and partnering efforts. The Company will responsibly wind down all remaining clinical efforts for rintodestrant by the end of this year and revert the rights back to the originator (University of Illinois Chicago); there are no additional financial obligations due to the originator resulting from the reversion. The Company also has intellectual property focused on cyclin-dependent kinase targets.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair statement of the Company’s financial position and results of operations for the interim periods presented. The information presented in the condensed financial statements and related notes as of March 31, 2022, and for the three months ended March 31, 2022, and 2021, is unaudited. The results for the three months ended March 31, 2022, are not necessarily indicative of the results expected for the full fiscal year or any future period. These interim financial statements should be read in conjunction with the financial statements and notes set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 23, 2022, (the “2021 Form 10-K”). The December 31, 2021 condensed balance sheet included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including notes, required by U.S. GAAP for complete financial statements. Certain amounts have been reclassified to conform to current presentation. The Company’s financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company has the ability to fund these operations for at least the next 12 months from the date of issuance of these financial statements. As of March 31, 2022, the Company had an accumulated deficit of $633.7 million. The Company has reported a net loss in all fiscal periods since inception and expects to incur substantial losses in the future to conduct research and development and pre-commercialization activities. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates which include, but are not limited to, estimates related to accrued expenses, accrued external clinical costs, net product sales, common stock valuation, stock-based compensation expense and deferred tax asset valuation allowance. Actual results could differ from those estimates. Accounts Receivable The Company’s accounts receivable consists of amounts due from specialty distributors in the U.S. (collectively, its “Customers”) related to sales of COSELA and have standard payment terms. Trade receivables are recorded net of the estimated variable consideration for chargebacks based on contractual terms and the Company’s expectation regarding the utilization and earnings of the chargebacks and discounts as well as the net amount expected to be collected from its customers. Estimates of the Company’s credit losses are determined based on existing contractual payment terms, individual customer circumstances, and any changes to the economic environment. In addition, the Company’s accounts receivable consists of open invoices issued to its license partners for services rendered by the Company or receivables with its license partners for invoices related to milestones that were completed and recognized as revenue. Inventories Inventories are stated at the lower of cost or net realizable value and recognized on a weighted-average cost method. The Company uses actual cost to determine the cost basis for inventory. Inventory is capitalized based on when future economic benefit is expected to be realized. Due to the nature of the Company’s supply chain process, inventory that is owned by the Company, is physically stored at third-party warehouses, logistics providers, and contract manufacturers. Inventory valuation reserves are established based on a number of factors including, but not limited to, finished goods not meeting product specifications, product excess and obsolescence, or application of the lower of cost or net realizable value concepts. The determination of events requiring the establishment of inventory valuation, together with the calculation of the amount of such reserves may require judgment. The Company analyzes its inventory levels on a periodic basis to determine if any inventory is at risk for expiration prior to sale or has a cost basis that is greater than its estimated future net realizable value. Any adjustments are recognized through cost of sales in the period in which they are incurred. No inventory valuation reserves have been recorded for any periods presented. Revenue Recognition For elements of those arrangements that the Company determines should be accounted for under ASC 606, Revenue from Contracts with Customers License Revenue Licenses of Intellectual Property If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue associated with the bundled performance obligation. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of progress and related revenue recognition. Milestone Payments At the inception of each arrangement that includes developmental and regulatory milestone payments, the Company evaluates whether the achievement of each milestone specifically relates to the Company’s efforts to satisfy a performance obligation or transfer a distinct good or service within a performance obligation. The Company evaluates each milestone to determine when and how much of the milestone to include in the transaction price. The Company first estimates the amount of the milestone payment that the Company could receive using either the expected value or the most likely amount approach. The Company primarily uses the most likely amount approach as that approach is generally most predictive for milestone payments with a binary outcome. Then, the Company considers whether any portion of that estimated amount is subject to the variable consideration constraint (that is, whether it is probable that a significant reversal of cumulative revenue would not occur upon resolution of the uncertainty). The Company updates the estimate of variable consideration included in the transaction price at each reporting date which includes updating the assessment of the likely amount of consideration and the application of the constraint to reflect current facts and circumstances. Royalties For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any revenue related to sales-based royalties or milestone payments based on the level of sales. Product Sales, Net The Company sells COSELA to specialty distributors in the U.S. and, in accordance with ASC 606, recognizes revenue at the point in time when the customer is deemed to have obtained control of the product. The customer is deemed to have obtained control of the product at the time of physical receipt of the product at the customers’ distribution facilities, or Free on Board (“FOB”) destination, the terms of which are designated in the contract. Product sales are recorded at the net selling price, which includes estimates of variable consideration for which reserves are established for (a) rebates and chargebacks, (b) co-pay assistance programs, (c) distribution fees, (d) product returns, and (e) other discounts. Where appropriate, these estimates take into consideration a range of possible outcomes which are probability-weighted for relevant factors such as current contractual and statutory requirements, and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the applicable contract. The amount of variable consideration may be constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately received may differ from the Company's estimates. If actual results in the future vary from estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variances become known. Liabilities related to co-pay assistance, rebates, and GPO fees are classified as “Accrued Expenses” in the Condensed Balance Sheets. Discounts such as chargebacks, returns, and specialty distributor fees are recorded as a reduction to trade accounts receivable, which is included in “Accounts Receivable” in the Condensed Balance Sheets. Forms of Variable Consideration Rebates and Chargebacks : Co-pay assistance: Eligible patients who have commercial insurance may receive assistance from the Company to reduce the patient’s out of pocket costs. Liabilities for co-pay assistance are calculated by actual program participation from third-party administrators. Distribution Fees: The Company has written contracts with its customers that include terms for distribution fees and costs for inventory management. The Company estimates and records distribution fees due to its customers based on gross sales. Product Returns: The Company generally offers a right of return based on the product’s expiration date and certain spoilage and damaged instances. The Company estimates the amount of product sales that may be returned and records the estimate as a reduction of product sales in the period the related product sales are recognized. The Company’s estimates for expected returns are based primarily on an ongoing analysis of sales information and visibility into the inventory remaining in the distribution channel. Cost of Goods Sold Cost of goods sold includes direct and indirect costs related to the manufacturing and distribution of COSELA, including third-party manufacturing costs, packaging services, freight-in, third-party logistics costs associated with COSELA, and Company personnel costs. Cost of goods sold may also include period costs related to certain inventory manufacturing services and inventory adjustment charges. In connection with the FDA approval of COSELA on February 12, 2021, the Company subsequently began capitalizing inventory manufactured or purchased after this date. As a result, certain manufacturing costs associated with product shipments of COSELA were expensed prior to FDA approval and, therefore, are not included in cost of goods sold during the current period. Research and Development Research and development expenses consist of costs incurred to further the Company’s research and development activities and include salaries and related employee benefits, manufacturing of pharmaceutical active ingredients and drug products, costs associated with clinical trials, nonclinical activities, regulatory activities, research-related overhead expenses and fees paid to expert consultants, external service providers and contract research organizations which conduct certain research and development activities on behalf of the Company. Costs incurred in the research and development of products are charged to research and development expense as incurred. Each reporting period, management estimated and accrued research and development expenses, including external clinical study costs associated with clinical trial activities. The process of estimating and accruing expenses involves reviewing contracts and purchase orders, identifying services that have been provided on the Company’s behalf, and estimating the level of service performed and the associated cost incurred for the service when the Company has not yet been invoiced or otherwise notified of the actual costs. Costs for clinical trial activities were estimated based on an evaluation of vendors’ progress towards completion of specific tasks, using data such as patient enrollment, clinical site activations or information provided by vendors regarding their actual costs incurred. Payments for these activities are based on the terms of individual contracts and payment timing may differ significantly from the period in which the services were performed. The Company determines accrual estimates through reports from and discussions with applicable personnel and outside service providers as to the progress or state of completion of trials, or the services completed. The estimates of accrued external clinical study costs as of each balance sheet date are based on the facts and circumstances known at the time. Income Taxes Income taxes are accounted for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of assets and liabilities and their respective tax bases, operating loss carryforwards, and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Accounting for Income Taxes Income tax expense recognized during the three months ended March 31, 2021 related to the foreign withholding taxes incurred as a result of the Simcere milestone payments received during the period. There was no income tax expense recognized during the three months ended March 31, 2022. Stock-Based Compensation The primary type of stock-based payments utilized by the Company are stock options. The Company accounts for stock-based employee compensation arrangements by measuring the cost of employee services received in exchange for all equity awards granted based on the fair value of the award on the grant date. The fair value of each employee stock option is estimated on the date of grant using an options pricing model. The Company currently uses the Black-Scholes valuation model to estimate the fair value of its share-based payments. The model requires management to make a number of assumptions including expected volatility, expected life, risk-free interest rate and expected dividends. The Company also incurs stock-based compensation expense related to restricted stock units (“RSUs”) granted to employees. The fair value of RSUs is determined by the closing market price of the Company’s common stock on the date of grant and then recognized over the requisite service period of the award. Debt Issuance Costs Debt issuance costs are amortized to interest expense over the estimated life of the related debt based on the effective interest method. In accordance with ASC 835, Interest

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company provides disclosure of financial assets and financial liabilities that are carried at fair value based on the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements may be classified based on the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities using the following three levels: Level 1 Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Unobservable inputs that reflect the Company’s estimates of the assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available, including its own data. The carrying amounts of cash, cash equivalents, accounts payable and accrued liabilities approximate fair value because of their short-term nature. At March 31, 2022, and December 31, 2021, these financial instruments and respective fair values have been classified as follows (in thousands): Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) Balance at March 31, 2022 Assets Money market funds $ 72,052 $ — $ — $ 72,052 Total assets at fair value: $ 72,052 $ — $ — $ 72,052 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) Balance at December 31, 2021 Assets Money market funds $ 110,443 $ — $ — $ 110,443 Total assets at fair value: $ 110,443 $ — $ — $ 110,443 During the three months ended March 31, 2022, and the year ended December 31, 2021, there were no changes in valuation methodology. The Loan Payable (discussed in Note 8), which is classified as a Level 3 liability, has a variable interest rate and the carrying value approximates its fair value. As of March 31, 2022, the carrying value was $75.6 million.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories as of March 31, 2022, and December 31, 2021 consist of the following (in thousands): March 31, 2022 December 31, 2021 Raw materials $ 2,799 $ 2,105 Work in process 2,294 1,342 Finished goods 2,767 24 Inventories $ 7,860 $ 3,471 The Company uses third party contract manufacturing organizations for the production of its raw materials, active pharmaceutical ingredients, and finished drug product which the Company owns. Costs incurred by the Company for manufacturing of initial commercial product of COSELA in preparation of commercial launch were expensed prior to FDA approval.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property Plant And Equipment [Abstract]
Property and Equipment	5. Property and Equipment Property and equipment consists of the following (in thousands): March 31, 2022 December 31, 2021 Computer equipment $ 327 $ 327 Laboratory equipment 334 334 Furniture and fixtures 866 866 Leasehold improvements 1,782 1,782 Accumulated depreciation (1,411 ) (1,296 ) Property and equipment, net $ 1,898 $ 2,013 Depreciation expense relating to property and equipment was $115 thousand and $120 thousand for the three months ended March 31, 2022, and March 31, 2021, respectively.

Patent License Agreement

Patent License Agreement	3 Months Ended
	Mar. 31, 2022
Patent License Agreement [Abstract]
Patent License Agreement	6. Patent License Agreement On November 23, 2016, the Company entered into a license agreement with the Board of Trustees of the University of Illinois (the “University”), which was amended on March 24, 2017. Pursuant to the license agreement, as amended, the University licensed patent rights to the Company, with rights of sublicense, to make, have made, use, import, sell and offer for sale products covered by certain patent rights owned by the University. The rights licensed to the Company are exclusive, worldwide, non-transferable rights, for all fields of use. Under the terms of the agreement the Company paid a one-time only, non-refundable license issue fee in the amount of $0.5 million which was charged to research and development expense in the fourth quarter of 2016. The Company is also obligated to pay annual maintenance fees to the University. All annual minimum payments are fully creditable against any royalty payments made by the Company. Under the terms of the agreement, the Company must pay the University a royalty percentage on all net sales of products and a share of sublicensing revenues. In addition, the University is eligible to receive milestone payments of up to $2.6 million related to the initiation and execution of clinical trials and the first commercial sale of a product in another country. To date, the Company has made milestone payments totaling $0.6 million, all of which were made prior to the current quarter. The Company will be responsible for any future patent prosecution costs that may arise. The term of the license agreement will continue until the later of (i) the expiration of the last valid claim within the patent rights covering the product in such country, (ii) the expiration of market exclusivity in such country and (iii) the 10th anniversary of the first commercial sale in such country. The University may terminate the agreement in the event (i) the Company fails to pay any amount or make any report when required to be made and fails to cure such failure within thirty (30) days after receipt of notice from the University, (ii) is in breach of any provision of the agreement and fails to remedy within forty-five (45) days after receipt of notice, (iii) makes a report to the University under the agreement that is determined to be materially false, (iv) declares insolvency or bankruptcy or (v) takes an action that causes patent rights or technical information to be subject to lien or encumbrance and fails to remedy any such breach within forty-five (45) days of receipt of notice from the University. The Company may terminate the agreement at any time on written notice to the University at least ninety (90) days prior to the termination date specified in the notice. Upon expiration or termination of the agreement, all rights revert to the University. In May 2022, the Company notified the University that it was terminating the license agreement.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Payables And Accruals [Abstract]
Accrued Expenses	7. Accrued Expenses Accrued expenses are comprised as follows (in thousands): March 31, 2022 December 31, 2021 Accrued external research $ 591 $ 773 Accrued professional fees and other 3,985 8,058 Accrued external clinical study costs 15,945 9,579 Accrued compensation expense 2,056 4,770 Accrued expenses $ 22,577 $ 23,180

Loan Payable

Loan Payable	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Loan Payable	8. Loan Payable On May 29, 2020, the Company entered into a loan and security agreement (the “Loan Agreement”) with Hercules Capital, Inc. (“Hercules”), under which Hercules agreed to lend the Company up to $100.0 million, to be made available in a series of tranches, subject to certain terms and conditions. The first tranche totals $30.0 million, of which the Company received $20.0 million at closing. Upon initiation of the phase 3 trial of COSELA for metastatic colorectal cancer and receiving FDA approval for COSELA for small cell lung cancer (“Performance Milestone”), the second tranche of $20.0 million became available to the Company for drawdown through December 15, 2021. The third tranche of $30.0 million will be available through December 31, 2022. The fourth tranche of $20.0 million will be available at Hercules’ approval through December 31, 2022. On March 31, 2021, the Company entered into the First Amendment to Loan and Security Agreement (the “First Amendment”) with Hercules whereby the Company drew the remaining $10.0 million of the first tranche and the interest rate and financial covenants were amended. Unless loan advances exceeded $40.0 million, no financial covenants were required. Amounts borrowed under the Loan Agreement will bear an interest rate equal to the greater of either (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 6.40%, and (ii) 9.65%. Based on original terms of the Loan Agreement, the Company will make interest only payments through June 1, 2022 and following the interest only period, the Company will repay the principal balance and interest of the advances in equal monthly installments through June 1, 2024. Based on the original terms of the Loan Agreement, upon satisfaction of the Performance Milestone, the interest only period was extended through January 1, 2023 and the maturity date was extended to June 1, 2025. Upon entering into the First Amendment on March 31, 2021, the interest rate was amended to the greater of either (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 6.20%, and (ii) 9.45%. The Company may prepay advances under the Loan Agreement, in whole or in part, at any time subject to a prepayment charge equal to (a) 3.0% of the prepayment amount in the first year; (b) 2.0% of the prepayment amount in the second year; and (c) 1.0% of the prepayment amount in the third year. Upon prepayment or repayment of all or any of the advances under the Loan Agreement, the Company will pay (in addition to the prepayment charge) an end of term charge of 6.95% of the aggregate funded amount. With respect to the first tranche, the end of term charge of $2.1 million will be payable upon any prepayment or repayment. To the extent that the Company is provided additional advances under the Loan Agreement, the 6.95% end of term charge will be applied to such additional amounts. These amounts have been accrued over the term of the loan using effective-interest method. On November 1, 2021, the Company entered into a Second Amendment to Loan and Security Agreement (the “Second Amendment”) under which Hercules agreed to lend the Company up to $150.0 million, to be made available in a series of tranches, subject to certain terms and conditions. The first tranche was increased to $100.0 million. At close of the Second Amendment, the Company borrowed an additional $45.0 million from tranche 1 with $25.0 million remaining to be borrowed through September 15, 2022. The second tranche of $20.0 million will become available to the Company upon achievement of $50.0 million trailing six-month Amounts borrowed under the Second Amendment will bear an interest rate equal to the greater of either (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%. The Company will make interest only payments through December 1, 2024 and may be extended through December 1, 2025, in quarterly increments, subject to compliance with covenants of the Second Amendment. Following the interest only period, the Company will repay the principal balance and interest of the advances in equal monthly installments through November 1, 2026. The Company may prepay advances under the Second Amendment, in whole or in part, at any time subject to a prepayment charge equal to (a) 3.0% of the prepayment amount in the first year from the closing of the Second Amendment; (b) 2.0% of the prepayment amount in the second year from the closing of the Second Amendment; and (c) 1.0% of the prepayment amount in the third year from the closing of the Second Amendment. Upon prepayment or repayment of all or any of the advances under the Second Amendment, the Company will pay (in addition to the prepayment charge) an end of term charge of 6.75% of the aggregate amount funded. The Company will be required to make a final payment to Hercules in the amount of 6.75% of the amounts funded, less any amount previously paid. In addition, the Company will be required to make a payment to the lender for $2.1 million on the earliest occurrence of (i) June 1, 2025, (ii) the date the Company repays the outstanding principal amount in full, or (iii) the date that the principal amount becomes due and payable in full. The Second Amendment is secured by substantially all of the Company’s assets, including intellectual property, subject to certain exemptions. The Company out-licensed lerociclib as permitted in the Loan Agreement and the Company may out-license rintodestrant upon approval of the licensing terms by Hercules. The Second Amendment contains a minimum revenue covenant. Beginning August 15, 2022, with the reporting of the financial results for the second fiscal quarter ended June 30, 2022, and tested monthly, the Company must have achieved net product revenue of COSELA of at least 65% of the amounts projected in the Company’s forecast. Testing of the minimum revenue covenant shall be waived at any time in which either (a) the Company’s market capitalization exceeds $750.0 million and the Company maintains unrestricted cash equal to at least 50% of the total amounts funded, or (b) the Company maintains unrestricted cash equal to at least 100% of the total amounts funded. The Company evaluated the Second Amendment under the guidance found in ASC 470-50 Modification and Extinguishment As of March 31, 2022, the future principal payments due under the Loan Agreement, excluding interest, is as follows: Amount 2022 $ — 2023 — 2024 2,853 2025 35,951 2026 36,196 Total principal outstanding 75,000 End of term charge 1,520 Unamortized debt issuance costs (874 ) Total $ 75,646

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Common Stock The Company is authorized to issue 120.0 million shares of common stock. Holders of common stock are entitled to one vote per share. Holders of common stock are entitled to receive dividends, as, if and when declared by the Company’s Board of Directors. On June 15, 2018, the Company entered into a sales agreement for “at the market offerings” with Cowen and Company, LLC (“Cowen”), which allowed the Company to issue and sell shares of common stock pursuant to a shelf registration statement for total gross sales proceeds of up to $125.0 million from time to time through Cowen, acting as its agent. Between January 14, 2021 and February 9, 2021, the Company sold 3,513,027 shares of common stock pursuant to this agreement, resulting in $86.4 million in net proceeds. As of February 9, 2021, the Company has used the entirety of the remaining availability under the 2018 sales agreement with Cowen. On July 2, 2021, the Company filed an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission (the “SEC”), which became effective upon filing, pursuant to which the Company registered for sale an unlimited amount of any combination of its common stock, preferred stock, debt securities, warrants, rights and/or units from time to time and at prices and on terms that the Company may determine, so long as the Company continued to satisfy the requirements of a “well-known seasoned issuer” under SEC rules (the “2021 Form S-3”). In connection with the 2021 Form S-3, on July 2, 2021, the Company entered into a sales agreement for “at the market offerings” with Cowen, which allowed the Company to issue and sell shares of common stock pursuant to the 2021 Form S-3 for total gross sales proceeds of up to $150.0 million from time to time through Cowen, acting as its agent (the “2021 Sales Agreement”). The Company did not sell any shares of common stock under the 2021 Sales Agreement. Since the Company no longer qualifies as a “well-known seasoned issuer” as such term is defined in Rule 405 under the Securities Act of 1933, as amended, at the time of the filing of the Company’s 2021 Form 10-K in February 2022, the Company filed an automatic post-effective amendment to the 2021 Form S-3 on Form POSASR prior to filing of the Company’s 2021 Form 10-K, which became effective upon filing, to register for sale up to $300.0 million of any combination of its common stock, preferred stock, debt securities, warrants, rights and/or units from time to time and at prices and on terms that the Company may determine and, as required by SEC rules, and another post-effective amendment to the 2021 Form S-3 on Form POS AM after the filing of the Company’s 2021 Form 10-K. The post-effective amendment to the 2021 Form S-3 on Form POS AM was declared effective by the SEC on May 3, 2022 and the 2021 Form S-3 will remain in effect for up to three years from the date it originally became effective, which was July 2, 2021. The Company makes no assurances as to the continued effectiveness of the 2021 Form S-3. The 2021 Form S-3 also includes a prospectus covering up to an aggregate of $100.0 million in common stock that the Company may issue and sell from time to time, through Cowen acting as its sales agent, pursuant to that certain sales agreement that the Company entered into with Cowen on February 23, 2022 (the “2022 Sales Agreement”). In connection with the Company entering into the 2022 Sales Preferred Stock The Company is authorized to issue 5.0 million shares of undesignated preferred stock in one or more series. As of March 31, 2022, no shares of preferred stock were issued or outstanding. Shares Reserved for Future Issuance The Company has reserved authorized shares of common stock for future issuance at March 31, 2022, and December 31, 2021 as follows: March 31, 2022 December 31, 2021 Common stock options outstanding 7,760,708 6,701,727 RSUs outstanding 602,866 414,991 Options and RSUs available for grant under Equity Incentive Plans 2,227,948 1,771,635 10,591,522 8,888,353

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation 2011 Equity Incentive Plan In March 2011, the Company adopted the 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan provided for the direct award or sale of the Company’s common stock and for the grant of stock options to employees, directors, officers, consultants and advisors of the Company. The 2011 Plan was subsequently amended in August 2012, October 2013, February 2015, December 2015, April 2016 and November 2016 to allow for the issuance of additional shares of common stock. In connection with the adoption of the 2017 Plan (as defined below), the 2011 Plan was terminated and no further awards will be made under the 2011 Plan. 2017 Equity Incentive Plan In May 2017, the Company adopted the 2017 Equity Incentive Plan (the “2017 Plan”). The 2017 Plan provided for the direct award or sale of the Company’s common stock and for the grant of up to 1,932,000 stock options to employees, directors, officers, consultants and advisors of the Company. The 2017 Plan provides for the grant of incentive stock options, non-statutory stock options or restricted stock. Under both the 2011 Plan and the 2017 Plan, options to purchase the Company’s common stock may be granted at a price no less than the fair market value of a share of common stock on the date of grant. The fair value shall be the closing sales price for a share as quoted on any established securities exchange for such grant date or the last preceding date for which such quotation exists. Vesting terms of options issued are determined by the Board of Directors or Compensation Committee of the Board. The Company’s stock options vest based on terms in the stock option agreements. Stock options have a maximum term of ten years. Beginning in January 2021, the Company began granting Restricted Stock Units (“RSUs”) under the 2017 Plan. RSUs are granted at the fair market value of a share of common stock on the date of grant. As of March 31, 2022, there were a total of 1,393,148 shares of common stock available for future issuance under the 2017 Plan. Amended and Restated 2021 Inducement Equity Incentive Plan In February 2021, the Company adopted the 2021 Inducement Equity Incentive Plan (the “2021 Inducement Plan”). The 2021 Inducement Plan provides for the grant of up to 500,000 non-qualified options, stock grants, and stock-based awards to employees and directors of the Company. The 2021 Inducement Plan does not include an evergreen provision. In September 2021, the Company adopted the 2021 Sales Force Inducement Equity Incentive Plan (the “2021 Sales Force Inducement Plan”). The 2021 Sales Force Inducement Plan provides for the grant of up to 500,000 non-qualified options, stock grants, and stock-based awards to sales force individuals and support staff that were not previously employees or directors of the Company. The 2021 Sales Force Inducement Plan does not include an evergreen provision. In March 2022, the Company merged the 2021 Sales Force Inducement Plan into the 2021 Inducement Plan and amended and restated the 2021 Inducement Plan to create the Amended and Restated 2021 Inducement Equity Incentive Plan (the “ Amended and Restated 2021 Plan”). In addition, the number of shares reserved for issuance under the Amended and Restated 2021 Plan was increased by 750,000 shares of the Company’s common stock, for an aggregate of 1,750,000 shares of the Company’s common stock authorized to issue under the Amended and Restated 2021 Plan. The Amended and Restated 2021 Plan does not include an evergreen provision. As of March 31, 2022, there was a total of 834,800 shares of common stock available for future issuance under the Amended and Restated 2021 Plan. Stock-Based Compensation The Company recognizes compensation costs related to stock options granted to employees based on the estimated fair value of the awards on the date of grant, net of estimated forfeitures. The grant date fair value of the stock-based awards is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Share-based awards granted to non-employee directors as compensation for serving on the Company’s Board of Directors are accounted for in the same manner as employee share-based compensation awards. The Company calculates the fair value of stock options using the Black-Scholes option pricing model. The Black-Scholes option-pricing model requires the use of subjective assumptions, including the expected volatility of the Company’s common stock, the assumed dividend yield, the expected term of the Company’s stock options and the fair value of the underlying common stock on the date of grant. The Company also incurs stock-based compensation expense related to RSUs. The fair value of RSUs is determined by the closing market price of the Company’s common stock on the date of grant and then recognized over the requisite service period of the award. The table below summarizes the stock-based compensation expense recognized in the Company’s statement of operations by classification (in thousands): Three Months Ended March 31, 2022 2021 Cost of goods sold $ 51 $ 43 Research and development 1,149 1,405 Selling, general and administrative 4,565 4,444 Total stock-based compensation expense $ 5,765 $ 5,892 Stock options— Black-Scholes inputs The fair value of stock options was estimated using the following weighted-average assumptions for the three months ended March 31, 2022, and March 31, 2021: Three Months Ended March 31, 2022 2021 Expected volatility 76.7 – 77.1% 78.3 – 79.0% Weighted-average risk free rate 1.4 – 1.7% 0.4 – 0.9% Dividend yield —% —% Expected term (in years) 6.07 6.02 Stock Option Activity The following table is a summary of the Stock option activity for the three months ended March 31, 2022: Weighted average Weighted average Remaining Aggregate Options exercise contractual intrinsic outstanding price life (Years) value (in thousands) Balance as of December 31, 2021 6,701,727 $ 17.88 7.2 $ 10,427 Granted 1,273,739 $ 10.60 Cancelled (187,425 ) 23.30 Exercised (27,333 ) 0.67 Balance as of March 31, 2022 7,760,708 $ 16.62 7.4 $ 6,824 Exercisable at December 31, 2021 3,660,578 16.72 5.9 $ 10,422 Vested at December 31, 2021 and expected to vest 6,701,727 17.88 7.2 $ 10,427 Exercisable at March 31, 2022 4,054,422 17.07 6.0 $ 6,824 Vested at March 31, 2022 and expected to vest 7,760,708 16.62 7.4 $ 6,824 As of March 31, 2022, unrecognized compensation expense related to unvested stock options totaled $36.1 Restricted Stock Units The Company’s restricted stock units (“RSUs”) are considered nonvested share awards and require no payment from the employee. For each RSU, employees receive one common share at the end of the vesting period. Compensation cost is recorded based on the market price of the Company’s common stock on the grant date and is recognized on a straight-line basis over the requisite service period. The following table is a summary of the RSU activity for three months ended March 31, 2022: Weighted – Average Number of Fair Value RSUs per Share Balance as of December 31, 2021 414,991 $ 18.24 Granted 328,031 10.67 Cancelled (24,105 ) 13.35 Vested (116,051 ) 18.02 Balance as of March 31, 2022 602,866 $ 14.36 As of March 31, 2022, there was $7.6 million of total unrecognized compensation cost related to Company RSUs that are expected to vest. These costs are expected to be recognized over a weighted-average period of approximately 2.8 years.

License Revenue

License Revenue	3 Months Ended
	Mar. 31, 2022
Revenue Recognition [Abstract]
License Revenue	11. License Revenue Incyclix License Agreement On May 22, 2020, the Company entered into an exclusive license agreement with Incyclix Bio, LLC (“Incyclix”), formerly ARC Therapeutics, LLC, a company primarily owned by a former board member, whereby the Company granted to Incyclix an exclusive, worldwide, royalty-bearing license, with the right to sublicense, solely to make, have made, use, sell, offer for sale, import, export, and commercialize products related to its CDK2 inhibitor compounds. At close, the Company received consideration in the form of an upfront payment of $1.0 million and an equity interest in Incyclix equal to 10% of its issued and outstanding units valued at $1.1 million. In addition, the Company may receive a future development milestone payment totaling $2.0 million and royalty payments in the mid-single digits based on net sales of the licensed compound after commercialization. The Company has right of first negotiation to re-acquire these assets. The Company assessed the license agreement in accordance with ASC 606 and identified one performance obligation in the contract, which is the transfer of the license, as Incyclix can benefit from the license using its own resources. The Company recognized $2.1 million in license revenue consisting of the upfront payment and the 10% equity interest in Incyclix upon the effective date as the Company determined the license was a right to use the intellectual property and the Company had provided all necessary information to Incyclix to benefit from the license. The company considers the future potential development milestones and sales-based royalties to be variable consideration. The development milestone is excluded from the transaction price because it determined the payment to be fully constrained under ASC 606 due to the inherent uncertainty in the achievement of such milestone due to factors outside of the Company’s control. As sales-based royalties are all related to the license of the intellectual property, the Company will recognize revenue in the period when subsequent sales are made pursuant to the sales-based royalty exception. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. There was no revenue recognized during the three months ended March 31, 2022. Genor License Agreement On June 15, 2020, the Company entered into an exclusive license agreement with Genor Biopharma Co. Inc. (“Genor”) for the development and commercialization of lerociclib in the Asia-Pacific region, excluding Japan (the “Genor Territory”). Under the license agreement, the Company granted to Genor an exclusive, royalty-bearing, non-transferable license, with the right to grant sublicenses, to develop, obtain, hold and maintain regulatory approvals for, and commercialize lerociclib, in the Genor Territory. Under the license agreement, Genor agreed to pay the Company a non-refundable, upfront cash payment of $6.0 million with the potential to pay an additional $40.0 million upon reaching certain development and commercial milestones. In addition, Genor will pay the Company tiered royalties ranging from high single to low double-digits based on annual net sales of lerociclib in the Genor Territory. In September 2020, the Company transferred to Genor the related technology and know-how that is necessary to develop, seek regulatory approval for, and commercialize lerociclib in the Genor Territory, which resulted in the recognition of $6.0 million in revenue in accordance with ASC 606. There was no milestone revenue recognized during the three months ended March 31, 2022. EQRx License Agreement On July 22, 2020, the Company entered into an exclusive license agreement with EQRx, Inc. (“EQRx”) for the development and commercialization of lerociclib in the U.S., Europe, Japan and all other global markets, excluding the Asia-Pacific region (except Japan) (the “EQRx Territory”). Under the license agreement, the Company granted to EQRx an exclusive, royalty-bearing, non-transferable license, with the right to grant sublicenses, to develop, obtain, hold and maintain regulatory approvals for, and commercialize lerociclib in the EQRx Territory. Under the license agreement, EQRx agreed to pay the Company a non-refundable, upfront cash payment of $20.0 million with the potential to pay an additional $290.0 million upon reaching certain development and commercial milestones. In addition, EQRx will pay the Company tiered royalties ranging from mid-single digits to mid-teens based on annual net sales of lerociclib in the EQRx Territory. In September 2020, the Company transferred to EQRx the related technology and know-how that is necessary to develop, seek regulatory approval for, and commercialize lerociclib in the EQRx Territory which resulted in the recognition of $20.0 million in revenue in accordance with ASC 606. EQRx will be responsible for the development of the product in the EQRx Territory. The Company will continue until completion, as the clinical trial sponsor, its two primary clinical trials at EQRx’s sole cost and expense. EQRx will reimburse the Company for all of its out-of-pocket costs incurred after the effective date of the license agreement in connection with these clinical trials. The Company will invoice EQRx within 30 days following the end of the quarter, and EQRx will pay within 30 days after its receipt of such invoice. For the three months ended March 31, 2022, the Company recognized revenue of $0.5 million for the reimbursement of clinical trials costs.. No development and commercial milestones, as defined by the agreement, have been achieved through March 31, 2022. Simcere License Agreement On August 3, 2020, the Company entered into an exclusive license agreement with Nanjing Simcere Dongyuan Pharmaceutical Co., Ltd (“Simcere”) for the development and commercialization of trilaciclib in all indications in Greater China (mainland China, Hong Kong, Macau, and Taiwan) (the “Simcere Territory”). Under the license agreement, the Company granted to Simcere an exclusive, royalty-bearing, non-transferable license, with the right to grant sublicenses, to develop, obtain, hold and maintain regulatory approvals for, and commercialize trilaciclib in the Simcere Territory. Under the license agreement, Simcere agreed to pay the Company a non-refundable, upfront cash payment of $14.0 million with the potential to pay an additional $156.0 million upon reaching certain development and commercial milestones. In addition, Simcere will pay the Company tiered low double-digit royalties on annual net sales of trilaciclib in the Simcere Territory. In accordance with ASC 606, the Company recognized the non-refundable, upfront cash payment of $14.0 million (less applicable withholding taxes of $1.4 million) in 2020 as the Company had transferred the license and related technology and know-how to Simcere. There was no milestone revenue recognized during the three months ended March 31, 2022. The Company recognized $0.6 million for reimbursement of clinical trial costs during the three months ended March 31, 2022.

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Common Share	12. Net Loss per Common Share Basic net loss per common share is computed using the weighted average number of common shares outstanding during the period including nominal issuances of common stock warrants. Diluted net loss per common share is computed using the sum of the weighted average number of common shares outstanding during the period and, if dilutive, the weighted average number of potential shares of common stock, including the assumed exercise of stock options, stock warrants and unvested restricted common stock. For the three months ended March 31, 2022, and 2021, the following potentially dilutive securities have been excluded from the computations of diluted weighted-average shares outstanding because the effect would be anti-dilutive: Three Months Ended March 31, 2022 2021 (unaudited) Stock options issued and outstanding 7,736,333 7,450,754 Unvested RSUs 606,371 465,620 Total potential dilutive shares 8,342,704 7,916,374 Amounts in the table above reflect the common stock equivalents of the noted instrument.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s effective income tax rate was 0% and (0.5)% for the three months ended March 31, 2022, and 2021, respectively. The Company continues to recognize losses in the United States and therefore, has recorded no tax benefit associated with these losses. The only income tax expense recognized related to the foreign withholding taxes incurred as a result of the Simcere licensing agreement. See Note 11 for further discussion on this transaction.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	14. Related Party Transactions The Company entered into a consulting agreement effective July 1, 2021 with Seth A. Rudnick, M.D., who at the time was a member of the Board of Directors, for scientific advisory services outside of his role on the Board of Directors that expires on June 30, 2022. Pursuant to the terms of the agreement, Dr. Rudnick will receive $50,000 as consideration for his services and other obligations as provided under the agreement paid, in two equal semi-annual installments. On October 13, 2021, Dr. Rudnick notified the Company of his decision to resign from the Board of Directors of the Company effective immediately as of October 13, 2021. The Company entered into a senior advisor agreement on September 29, 2020 with Mark A. Velleca, M.D., Ph.D., a member of the Board of Directors, with an effective date of January 1, 2021. Pursuant to the terms of the agreement, Dr. Velleca will receive $200,000 annually, paid in equal quarterly installments, for his services. The senior advisor agreement will expire on December 31, 2023.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair statement of the Company’s financial position and results of operations for the interim periods presented. The information presented in the condensed financial statements and related notes as of March 31, 2022, and for the three months ended March 31, 2022, and 2021, is unaudited. The results for the three months ended March 31, 2022, are not necessarily indicative of the results expected for the full fiscal year or any future period. These interim financial statements should be read in conjunction with the financial statements and notes set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 23, 2022, (the “2021 Form 10-K”). The December 31, 2021 condensed balance sheet included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including notes, required by U.S. GAAP for complete financial statements. Certain amounts have been reclassified to conform to current presentation. The Company’s financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company has the ability to fund these operations for at least the next 12 months from the date of issuance of these financial statements. As of March 31, 2022, the Company had an accumulated deficit of $633.7 million. The Company has reported a net loss in all fiscal periods since inception and expects to incur substantial losses in the future to conduct research and development and pre-commercialization activities.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates which include, but are not limited to, estimates related to accrued expenses, accrued external clinical costs, net product sales, common stock valuation, stock-based compensation expense and deferred tax asset valuation allowance. Actual results could differ from those estimates.
Accounts Receivable	Accounts Receivable The Company’s accounts receivable consists of amounts due from specialty distributors in the U.S. (collectively, its “Customers”) related to sales of COSELA and have standard payment terms. Trade receivables are recorded net of the estimated variable consideration for chargebacks based on contractual terms and the Company’s expectation regarding the utilization and earnings of the chargebacks and discounts as well as the net amount expected to be collected from its customers. Estimates of the Company’s credit losses are determined based on existing contractual payment terms, individual customer circumstances, and any changes to the economic environment. In addition, the Company’s accounts receivable consists of open invoices issued to its license partners for services rendered by the Company or receivables with its license partners for invoices related to milestones that were completed and recognized as revenue.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value and recognized on a weighted-average cost method. The Company uses actual cost to determine the cost basis for inventory. Inventory is capitalized based on when future economic benefit is expected to be realized. Due to the nature of the Company’s supply chain process, inventory that is owned by the Company, is physically stored at third-party warehouses, logistics providers, and contract manufacturers. Inventory valuation reserves are established based on a number of factors including, but not limited to, finished goods not meeting product specifications, product excess and obsolescence, or application of the lower of cost or net realizable value concepts. The determination of events requiring the establishment of inventory valuation, together with the calculation of the amount of such reserves may require judgment. The Company analyzes its inventory levels on a periodic basis to determine if any inventory is at risk for expiration prior to sale or has a cost basis that is greater than its estimated future net realizable value. Any adjustments are recognized through cost of sales in the period in which they are incurred. No inventory valuation reserves have been recorded for any periods presented.
Revenue Recognition	Revenue Recognition For elements of those arrangements that the Company determines should be accounted for under ASC 606, Revenue from Contracts with Customers License Revenue Licenses of Intellectual Property If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue associated with the bundled performance obligation. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of progress and related revenue recognition. Milestone Payments At the inception of each arrangement that includes developmental and regulatory milestone payments, the Company evaluates whether the achievement of each milestone specifically relates to the Company’s efforts to satisfy a performance obligation or transfer a distinct good or service within a performance obligation. The Company evaluates each milestone to determine when and how much of the milestone to include in the transaction price. The Company first estimates the amount of the milestone payment that the Company could receive using either the expected value or the most likely amount approach. The Company primarily uses the most likely amount approach as that approach is generally most predictive for milestone payments with a binary outcome. Then, the Company considers whether any portion of that estimated amount is subject to the variable consideration constraint (that is, whether it is probable that a significant reversal of cumulative revenue would not occur upon resolution of the uncertainty). The Company updates the estimate of variable consideration included in the transaction price at each reporting date which includes updating the assessment of the likely amount of consideration and the application of the constraint to reflect current facts and circumstances. Royalties For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any revenue related to sales-based royalties or milestone payments based on the level of sales. Product Sales, Net The Company sells COSELA to specialty distributors in the U.S. and, in accordance with ASC 606, recognizes revenue at the point in time when the customer is deemed to have obtained control of the product. The customer is deemed to have obtained control of the product at the time of physical receipt of the product at the customers’ distribution facilities, or Free on Board (“FOB”) destination, the terms of which are designated in the contract. Product sales are recorded at the net selling price, which includes estimates of variable consideration for which reserves are established for (a) rebates and chargebacks, (b) co-pay assistance programs, (c) distribution fees, (d) product returns, and (e) other discounts. Where appropriate, these estimates take into consideration a range of possible outcomes which are probability-weighted for relevant factors such as current contractual and statutory requirements, and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the applicable contract. The amount of variable consideration may be constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately received may differ from the Company's estimates. If actual results in the future vary from estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variances become known. Liabilities related to co-pay assistance, rebates, and GPO fees are classified as “Accrued Expenses” in the Condensed Balance Sheets. Discounts such as chargebacks, returns, and specialty distributor fees are recorded as a reduction to trade accounts receivable, which is included in “Accounts Receivable” in the Condensed Balance Sheets. Forms of Variable Consideration Rebates and Chargebacks : Co-pay assistance: Eligible patients who have commercial insurance may receive assistance from the Company to reduce the patient’s out of pocket costs. Liabilities for co-pay assistance are calculated by actual program participation from third-party administrators. Distribution Fees: The Company has written contracts with its customers that include terms for distribution fees and costs for inventory management. The Company estimates and records distribution fees due to its customers based on gross sales. Product Returns: The Company generally offers a right of return based on the product’s expiration date and certain spoilage and damaged instances. The Company estimates the amount of product sales that may be returned and records the estimate as a reduction of product sales in the period the related product sales are recognized. The Company’s estimates for expected returns are based primarily on an ongoing analysis of sales information and visibility into the inventory remaining in the distribution channel.
Cost of Goods Sold	Cost of Goods Sold Cost of goods sold includes direct and indirect costs related to the manufacturing and distribution of COSELA, including third-party manufacturing costs, packaging services, freight-in, third-party logistics costs associated with COSELA, and Company personnel costs. Cost of goods sold may also include period costs related to certain inventory manufacturing services and inventory adjustment charges. In connection with the FDA approval of COSELA on February 12, 2021, the Company subsequently began capitalizing inventory manufactured or purchased after this date. As a result, certain manufacturing costs associated with product shipments of COSELA were expensed prior to FDA approval and, therefore, are not included in cost of goods sold during the current period.
Research and Development	Research and Development Research and development expenses consist of costs incurred to further the Company’s research and development activities and include salaries and related employee benefits, manufacturing of pharmaceutical active ingredients and drug products, costs associated with clinical trials, nonclinical activities, regulatory activities, research-related overhead expenses and fees paid to expert consultants, external service providers and contract research organizations which conduct certain research and development activities on behalf of the Company. Costs incurred in the research and development of products are charged to research and development expense as incurred. Each reporting period, management estimated and accrued research and development expenses, including external clinical study costs associated with clinical trial activities. The process of estimating and accruing expenses involves reviewing contracts and purchase orders, identifying services that have been provided on the Company’s behalf, and estimating the level of service performed and the associated cost incurred for the service when the Company has not yet been invoiced or otherwise notified of the actual costs. Costs for clinical trial activities were estimated based on an evaluation of vendors’ progress towards completion of specific tasks, using data such as patient enrollment, clinical site activations or information provided by vendors regarding their actual costs incurred. Payments for these activities are based on the terms of individual contracts and payment timing may differ significantly from the period in which the services were performed. The Company determines accrual estimates through reports from and discussions with applicable personnel and outside service providers as to the progress or state of completion of trials, or the services completed. The estimates of accrued external clinical study costs as of each balance sheet date are based on the facts and circumstances known at the time.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of assets and liabilities and their respective tax bases, operating loss carryforwards, and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Accounting for Income Taxes Income tax expense recognized during the three months ended March 31, 2021 related to the foreign withholding taxes incurred as a result of the Simcere milestone payments received during the period. There was no income tax expense recognized during the three months ended March 31, 2022.
Stock-Based Compensation	Stock-Based Compensation The primary type of stock-based payments utilized by the Company are stock options. The Company accounts for stock-based employee compensation arrangements by measuring the cost of employee services received in exchange for all equity awards granted based on the fair value of the award on the grant date. The fair value of each employee stock option is estimated on the date of grant using an options pricing model. The Company currently uses the Black-Scholes valuation model to estimate the fair value of its share-based payments. The model requires management to make a number of assumptions including expected volatility, expected life, risk-free interest rate and expected dividends. The Company also incurs stock-based compensation expense related to restricted stock units (“RSUs”) granted to employees. The fair value of RSUs is determined by the closing market price of the Company’s common stock on the date of grant and then recognized over the requisite service period of the award.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs are amortized to interest expense over the estimated life of the related debt based on the effective interest method. In accordance with ASC 835, Interest

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Financial Instruments and Respective Fair Values	At March 31, 2022, and December 31, 2021, these financial instruments and respective fair values have been classified as follows (in thousands): Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) Balance at March 31, 2022 Assets Money market funds $ 72,052 $ — $ — $ 72,052 Total assets at fair value: $ 72,052 $ — $ — $ 72,052 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) Balance at December 31, 2021 Assets Money market funds $ 110,443 $ — $ — $ 110,443 Total assets at fair value: $ 110,443 $ — $ — $ 110,443

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of March 31, 2022, and December 31, 2021 consist of the following (in thousands): March 31, 2022 December 31, 2021 Raw materials $ 2,799 $ 2,105 Work in process 2,294 1,342 Finished goods 2,767 24 Inventories $ 7,860 $ 3,471

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consists of the following (in thousands): March 31, 2022 December 31, 2021 Computer equipment $ 327 $ 327 Laboratory equipment 334 334 Furniture and fixtures 866 866 Leasehold improvements 1,782 1,782 Accumulated depreciation (1,411 ) (1,296 ) Property and equipment, net $ 1,898 $ 2,013

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses are comprised as follows (in thousands): March 31, 2022 December 31, 2021 Accrued external research $ 591 $ 773 Accrued professional fees and other 3,985 8,058 Accrued external clinical study costs 15,945 9,579 Accrued compensation expense 2,056 4,770 Accrued expenses $ 22,577 $ 23,180

Loan Payable (Tables)

Loan Payable (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Outstanding Debt Obligations	As of March 31, 2022, the future principal payments due under the Loan Agreement, excluding interest, is as follows: Amount 2022 $ — 2023 — 2024 2,853 2025 35,951 2026 36,196 Total principal outstanding 75,000 End of term charge 1,520 Unamortized debt issuance costs (874 ) Total $ 75,646

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Summary of Common Stock Shares Reserved for Future Issuance	The Company has reserved authorized shares of common stock for future issuance at March 31, 2022, and December 31, 2021 as follows: March 31, 2022 December 31, 2021 Common stock options outstanding 7,760,708 6,701,727 RSUs outstanding 602,866 414,991 Options and RSUs available for grant under Equity Incentive Plans 2,227,948 1,771,635 10,591,522 8,888,353

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Summary of Stock Option Activity	The following table is a summary of the Stock option activity for the three months ended March 31, 2022: Weighted average Weighted average Remaining Aggregate Options exercise contractual intrinsic outstanding price life (Years) value (in thousands) Balance as of December 31, 2021 6,701,727 $ 17.88 7.2 $ 10,427 Granted 1,273,739 $ 10.60 Cancelled (187,425 ) 23.30 Exercised (27,333 ) 0.67 Balance as of March 31, 2022 7,760,708 $ 16.62 7.4 $ 6,824 Exercisable at December 31, 2021 3,660,578 16.72 5.9 $ 10,422 Vested at December 31, 2021 and expected to vest 6,701,727 17.88 7.2 $ 10,427 Exercisable at March 31, 2022 4,054,422 17.07 6.0 $ 6,824 Vested at March 31, 2022 and expected to vest 7,760,708 16.62 7.4 $ 6,824
Summary of Restricted Stock Units Activity	The following table is a summary of the RSU activity for three months ended March 31, 2022: Weighted – Average Number of Fair Value RSUs per Share Balance as of December 31, 2021 414,991 $ 18.24 Granted 328,031 10.67 Cancelled (24,105 ) 13.35 Vested (116,051 ) 18.02 Balance as of March 31, 2022 602,866 $ 14.36
Employee and Non-employee Stock Options
Summary of Share-Based Compensation Expense Included in Statement of Operations	The table below summarizes the stock-based compensation expense recognized in the Company’s statement of operations by classification (in thousands): Three Months Ended March 31, 2022 2021 Cost of goods sold $ 51 $ 43 Research and development 1,149 1,405 Selling, general and administrative 4,565 4,444 Total stock-based compensation expense $ 5,765 $ 5,892
Summary of Fair Value of Stock Options Granted Using Black-Scholes Options Pricing Model	The fair value of stock options was estimated using the following weighted-average assumptions for the three months ended March 31, 2022, and March 31, 2021: Three Months Ended March 31, 2022 2021 Expected volatility 76.7 – 77.1% 78.3 – 79.0% Weighted-average risk free rate 1.4 – 1.7% 0.4 – 0.9% Dividend yield —% —% Expected term (in years) 6.07 6.02

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Potentially Dilutive Securities Excluded from Computations of Diluted Weighted-average Shares Outstanding	For the three months ended March 31, 2022, and 2021, the following potentially dilutive securities have been excluded from the computations of diluted weighted-average shares outstanding because the effect would be anti-dilutive: Three Months Ended March 31, 2022 2021 (unaudited) Stock options issued and outstanding 7,736,333 7,450,754 Unvested RSUs 606,371 465,620 Total potential dilutive shares 8,342,704 7,916,374

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Accumulated deficit	$ 633,651,000		$ 584,459,000
Unrecognized income tax benefits	0		0
Accrued income taxes	0		$ 0
Income tax expense	$ 0	$ 138,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Instruments and Respective Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Assets at fair value	$ 72,052	$ 110,443
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Assets at fair value	72,052	110,443
Money Market Funds
Assets
Assets at fair value	72,052	110,443
Money Market Funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Assets at fair value	$ 72,052	$ 110,443

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Changes in valuation methodology	$ 0	$ 0
Loan payable	75,646,000	$ 75,190,000
Significant Other Unobservable Inputs (Level 3)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Loan payable	$ 75,600,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 2,799	$ 2,105
Work in process	2,294	1,342
Finished goods	2,767	24
Inventories	$ 7,860	$ 3,471

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Accumulated depreciation	$ (1,411)	$ (1,296)
Property and equipment, net	1,898	2,013
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	327	327
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	334	334
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	866	866
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 1,782	$ 1,782

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Depreciation expenses relating to property and equipment	$ 115	$ 120

Patent License Agreement - Addi

Patent License Agreement - Additional Information (Details) - USD ($)	3 Months Ended			64 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2016	Mar. 31, 2022
Patent License Agreement [Line Items]
Non-refundable license issue fee	$ 26,305,000	$ 16,540,000
Milestone payments				$ 600,000
University
Patent License Agreement [Line Items]
License agreement date	Nov. 23, 2016
License agreement amendment date	Mar. 24, 2017
Term of license agreement description	The term of the license agreement will continue until the later of (i) the expiration of the last valid claim within the patent rights covering the product in such country, (ii) the expiration of market exclusivity in such country and (iii) the 10th anniversary of the first commercial sale in such country. The University may terminate the agreement in the event (i) the Company fails to pay any amount or make any report when required to be made and fails to cure such failure within thirty (30) days after receipt of notice from the University, (ii) is in breach of any provision of the agreement and fails to remedy within forty-five (45) days after receipt of notice, (iii) makes a report to the University under the agreement that is determined to be materially false, (iv) declares insolvency or bankruptcy or (v) takes an action that causes patent rights or technical information to be subject to lien or encumbrance and fails to remedy any such breach within forty-five (45) days of receipt of notice from the University. The Company may terminate the agreement at any time on written notice to the University at least ninety (90) days prior to the termination date specified in the notice. Upon expiration or termination of the agreement, all rights revert to the University. In May 2022, the Company notified the University that it was terminating the license agreement.
License agreement termination notice period	90 days
University | Maximum
Patent License Agreement [Line Items]
Milestone payments	$ 2,600,000
University | License
Patent License Agreement [Line Items]
Non-refundable license issue fee			$ 500,000

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables And Accruals [Abstract]
Accrued external research	$ 591	$ 773
Accrued professional fees and other	3,985	8,058
Accrued external clinical study costs	15,945	9,579
Accrued compensation expense	2,056	4,770
Accrued expenses	$ 22,577	$ 23,180

Loan Payable - Additional Infor

Loan Payable - Additional Information (Details) - USD ($) $ in Millions	Nov. 01, 2021	Mar. 31, 2022	May 29, 2020
Loan Agreement | Hercules Capital, Inc.
Debt Instrument [Line Items]
Earliest maturity date		Jun. 1, 2022
Latest maturity date		Jan. 1, 2023
Debt instrument, maturity date		Jun. 1, 2025
Debt instrument maturity date description		following the interest only period, the Company will repay the principal balance and interest of the advances in equal monthly installments through June 1, 2024
Interest rate description		greater of either (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 6.40%, and (ii) 9.65%
Loan agreement, basis spread on variable rate		6.40%
Loan agreement, interest rate, stated percentage		9.65%
Prepayment fee description		(a) 3.0% of the prepayment amount in the first year; (b) 2.0% of the prepayment amount in the second year; and (c) 1.0% of the prepayment amount in the third year.
Percentage of prepayment of loan amount for year first		3.00%
Percentage of prepayment of loan amount for year second		2.00%
Percentage of prepayment of loan amount for year third		1.00%
Percentage of loan amount prepayment charge		6.95%
Extinguishment of debt, amount		$ 0.2
Extinguishment of debt		Agreement as of November 1, 2021, including the unamortized debt issuance costs, and the fair value of the Second Amendment was recorded as a $0.2 million loss on extinguishment of debt for the twelve months ended December 31, 2021
Loan Agreement | Hercules Capital, Inc. | First Amendment to Loan and Security Agreement
Debt Instrument [Line Items]
Interest rate description		greater of either (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 6.20%, and (ii) 9.45%
Loan agreement, basis spread on variable rate		6.20%
Loan agreement, interest rate, stated percentage		9.45%
Loan Agreement | Hercules Capital, Inc. | First Tranche
Debt Instrument [Line Items]
Loan amount			$ 30
Remaining loan amount			20
End of term fee		$ 2.1
Percentage of aggregate amount of all loan advances payment		6.95%
Loan Agreement | Hercules Capital, Inc. | First Tranche | Other Income (Expense)
Debt Instrument [Line Items]
Interest expense, loan agreement		$ 2.3
Loan Agreement | Hercules Capital, Inc. | First Tranche | First Amendment to Loan and Security Agreement
Debt Instrument [Line Items]
Remaining loan amount		10
Loan Agreement | Hercules Capital, Inc. | Second Tranche
Debt Instrument [Line Items]
Loan amount			20
Loan Agreement | Hercules Capital, Inc. | Third Tranche
Debt Instrument [Line Items]
Loan amount			30
Loan Agreement | Hercules Capital, Inc. | Fourth Tranche
Debt Instrument [Line Items]
Loan amount			20
Loan Agreement | Hercules Capital, Inc. | Maximum
Debt Instrument [Line Items]
Loan amount			$ 100
Loan Agreement | Hercules Capital, Inc. | Minimum | First Amendment to Loan and Security Agreement
Debt Instrument [Line Items]
Loan amount		$ 40
Second Amendment
Debt Instrument [Line Items]
Percentage of net product revenue		65.00%
Debt instrument minimum revenue of covenant market capitalization amount		$ 750
Debt instrument percentage of minimum revenue of covenant unrestricted cash		50.00%
Debt instrument percentage of unrestricted cash		100.00%
Second Amendment | Hercules Capital, Inc.
Debt Instrument [Line Items]
Earliest maturity date	Dec. 1, 2024
Debt instrument, maturity date	Dec. 1, 2025
Debt instrument maturity date description		Following the interest only period, the Company will repay the principal balance and interest of the advances in equal monthly installments through November 1, 2026.
Interest rate description		greater of either (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.
Loan agreement, basis spread on variable rate	5.90%
Loan agreement, interest rate, stated percentage	9.15%
Prepayment fee description		3.0% of the prepayment amount in the first year from the closing of the Second Amendment; (b) 2.0% of the prepayment amount in the second year from the closing of the Second Amendment; and (c) 1.0% of the prepayment amount in the third year
Percentage of prepayment of loan amount for year first	3.00%
Percentage of prepayment of loan amount for year second	2.00%
Percentage of prepayment of loan amount for year third	1.00%
Percentage of loan amount prepayment charge	6.75%
Second Amendment | Hercules Capital, Inc. | First Tranche
Debt Instrument [Line Items]
Loan amount	$ 100
Remaining loan amount	25
End of term fee	$ 2.1
Percentage of aggregate amount of all loan advances payment	6.75%
Debt instrument additional borrowing amount	$ 45
Second Amendment | Hercules Capital, Inc. | Second Tranche
Debt Instrument [Line Items]
Loan amount	20
Debt instrument available upon achievement of net product revenue	$ 50
Debt instrument trailing net product revenue	6 months
Second Amendment | Hercules Capital, Inc. | Third Tranche
Debt Instrument [Line Items]
Loan amount	$ 15
Second Amendment | Hercules Capital, Inc. | Fourth Tranche
Debt Instrument [Line Items]
Loan amount	15
Second Amendment | Hercules Capital, Inc. | Maximum
Debt Instrument [Line Items]
Loan amount	$ 150

Loan Payable - Schedule Future

Loan Payable - Schedule Future Principal Payments Due Under Loan Agreement Excluding Interest (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Debt Disclosure [Abstract]
2024	$ 2,853
2025	35,951
2026	36,196
Total principal outstanding	75,000
End of term charge	1,520
Unamortized debt issuance costs	(874)
Total	$ 75,646

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ in Millions	Feb. 23, 2022	Jun. 15, 2018	Feb. 09, 2021	Mar. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock, shares authorized				120,000,000	120,000,000
Common stock, voting rights				Holders of common stock are entitled to one vote per share.
Undesignated preferred stock, shares authorized to issue				5,000,000
Preferred stock, shares issued				0
Preferred stock, shares outstanding				0
Cowen And Company L L C | At The Market Offerings
Class Of Stock [Line Items]
Maximum gross proceeds of common stock allowed from issuance and sell		$ 125
Proceeds from Issuance of Common Stock			$ 86.4
Cowen And Company L L C | 2022 Sales Agreement
Class Of Stock [Line Items]
Maximum gross proceeds of common stock allowed from issuance and sell	$ 300
Cowen And Company L L C | Common Stock | At The Market Offerings
Class Of Stock [Line Items]
Common stock, shares issued			3,513,027
Cowen And Company L L C | Common Stock | 2022 Sales Agreement
Class Of Stock [Line Items]
Proceeds from Issuance of Common Stock	$ 100

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Common Stock Shares Reserved for Future Issuance (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock, shares reserved for future issuance	10,591,522	8,888,353
RSUs Outstanding
Class Of Stock [Line Items]
Common stock, shares reserved for future issuance	602,866	414,991
Options and RSUs available for grant under Equity Incentive Plans
Class Of Stock [Line Items]
Common stock, shares reserved for future issuance	2,227,948	1,771,635
Common Stock Options Outstanding
Class Of Stock [Line Items]
Common stock, shares reserved for future issuance	7,760,708	6,701,727

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	Jan. 01, 2021	Mar. 31, 2022	May 31, 2017
Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, maximum term		10 years
Unrecognized stock-based compensation costs		$ 36.1
Weighted-average recognition period		2 years 6 months
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average recognition period		2 years 9 months 18 days
Unrecognized compensation cost		$ 7.6
2017 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant under equity incentive plan			1,932,000
Number of additional shares approved for grant under equity incentive plan	1,096,553
Number of shares available for grant under equity incentive plan		1,393,148
2011 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant under equity incentive plan		0
2021 Inducement Equity Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant under equity incentive plan		500,000
2021 Sales Force Inducement Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant under equity incentive plan		500,000
Amended and Restated 2021 Inducement Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant under equity incentive plan		834,800
Amended and Restated 2021 Inducement Equity Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant under equity incentive plan		1,750,000
Additional number of shares reserved for future issuance under equity incentive plan		750,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Share-Based Compensation Expense Included in Statements of Operations (Details) - Employee and Non-employee Stock Options - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 5,765	$ 5,892
Cost of Goods Sold
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	51	43
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	1,149	1,405
Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,565	$ 4,444

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value of Stock Options Granted Using Black-Scholes Options Pricing Model (Details) - Employee and Non-employee Stock Options	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility, minimum	76.70%	78.30%
Expected volatility, maximum	77.10%	79.00%
Weighted-average risk free rate, minimum	1.40%	0.40%
Weighted-average risk free rate, maximum	1.70%	0.90%
Expected term (in years)	6 years 25 days	6 years 7 days

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Options outstanding
Beginning balance	6,701,727
Granted	1,273,739
Cancelled	(187,425)
Exercised	(27,333)
Ending balance	7,760,708	6,701,727
Exercisable	4,054,422	3,660,578
Vested and expected to vest	7,760,708	6,701,727
Weighted average exercise price
Beginning balance	$ 17.88
Granted	10.60
Cancelled	23.30
Exercised	0.67
Ending balance	16.62	$ 17.88
Exercisable	17.07	16.72
Vested and expected to vest	$ 16.62	$ 17.88
Weighted average, Remaining contractual for life (Years)
Balance	7 years 4 months 24 days	7 years 2 months 12 days
Exercisable	6 years	5 years 10 months 24 days
Vested and expected to vest	7 years 4 months 24 days	7 years 2 months 12 days
Weighted average, Aggregate intrinsic value
Balance	$ 6,824	$ 10,427
Exercisable	6,824	10,422
Vested and expected to vest	$ 6,824	$ 10,427

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of RSUs
Beginning balance | shares	414,991
Granted | shares	328,031
Cancelled | shares	(24,105)
Vested | shares	(116,051)
Ending balance | shares	602,866
Weighted-Average Fair Value per Share
Beginning balance | $ / shares	$ 18.24
Granted | $ / shares	10.67
Cancelled | $ / shares	13.35
Vested | $ / shares	18.02
Ending balance | $ / shares	$ 14.36

License Revenue - Additional In

License Revenue - Additional Information (Details) - USD ($)	Aug. 03, 2020	Jul. 22, 2020	Jun. 15, 2020	May 22, 2020	Mar. 31, 2022
Incyclix Bio, LLC
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Upfront payment received				$ 1,000,000
Percentage of equity interest received as consideration				10.00%
Value of equity interest received				$ 1,100,000
Milestone payments receivable				2,000,000
License revenue recognized				$ 2,100,000	$ 0
Equity interest				10.00%
Genor Biopharma Co. Inc.
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Milestone payments receivable			$ 40,000,000
License revenue recognized			6,000,000
Non-refundable, upfront payment			$ 6,000,000
Milestone revenue recognized					0
EQRx Inc.
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Upfront payment received		$ 20,000,000
Milestone payments receivable		290,000,000
License revenue recognized		$ 20,000,000
Typical payment terms on invoice payment		30 days
Number of days due from invoice date		30 days
Revenue recognized for reimbursement of clinical trials costs					500,000
Nanjing Simcere Dongyuan Pharmaceutical Co., Ltd
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Upfront payment received	$ 14,000,000				14,000,000
Milestone payments receivable	156,000,000
Milestone revenue recognized					0
Revenue recognized for reimbursement of clinical trials costs					$ 600,000
Withholding taxes	$ 1,400,000

Net Loss Per Common Share - Sch

Net Loss Per Common Share - Schedule of Potentially Dilutive Securities Excluded from Computations of Diluted Weighted-average Shares Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	8,342,704	7,916,374
Stock Options Issued and Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	7,736,333	7,450,754
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	606,371	465,620

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Effective tax rate	0.00%	(0.50%)
Income tax benefit	$ 0	$ (138,000)
U.S.
Income Tax Contingency [Line Items]
Income tax benefit	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - Member of Board of Directors	3 Months Ended
	Mar. 31, 2022USD ($)
Scientific Advisory
Related Party Transaction [Line Items]
Consulting agreement expiration date	Jun. 30, 2022
Service payment	$ 50,000
Senior Advisor Agreement
Related Party Transaction [Line Items]
Service payment	$ 200,000
Agreement expiration date	Dec. 31, 2023