Cogent Biosciences (COGT) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	Cogent Biosciences, Inc.
Entity Central Index Key	0001622229
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Common Stock, Shares Outstanding		86,124,249
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-38443
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5308248
Entity Address, Address Line One	275 Wyman Street
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02451
City Area Code	(617)
Local Phone Number	945-5576
Title of 12(b) Security	Common Stock, $0.001 Par Value
Trading Symbol	COGT
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 86,810	$ 139,886
Short-term marketable securities	192,231	119,390
Prepaid expenses and other current assets	6,912	4,435
Restricted cash		1,255
Total current assets	285,953	264,966
Long-term marketable securities	33,794
Operating lease, right-of-use asset	22,194	23,316
Property and equipment, net	8,643	7,783
Other assets	4,862	4,745
Total assets	355,446	300,810
Current liabilities:
Accounts payable	9,868	5,842
Accrued expenses and other current liabilities	23,507	17,884
CVR liability (Note 3)		1,700
Operating lease liability	1,344	1,423
Total current liabilities	34,719	26,849
Operating lease liability, net of current portion	17,829	18,226
Total liabilities	52,548	45,075
Commitments and contingencies (Note 7)
Stockholders’ equity:
Common stock, $0.001 par value; 150,000,000 shares authorized; 86,124,249 shares and 69,893,434 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	86	70
Additional paid-in capital	792,208	601,153
Accumulated other comprehensive loss	(172)	(104)
Accumulated deficit	(549,259)	(411,214)
Total stockholders’ equity	302,898	255,735
Total liabilities and stockholders’ equity	355,446	300,810
Series A Convertible Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value	$ 60,035	$ 65,830

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value	$ 0.001
Preferred stock, shares authorized	10,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common stock, Par value	$ 0.001	$ 0.001
Common stock, Shares authorized	150,000,000	150,000,000
Common stock, Shares issued	86,124,249	69,893,434
Common stock, Shares outstanding	86,124,249	69,893,434
Series A Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	74,465	81,050
Preferred stock, shares outstanding	74,465	81,050
Undesignated Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	9,000,000	9,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating expenses:
Research and development	$ 50,127	$ 29,936	$ 125,036	$ 84,885
General and administrative	9,453	6,885	24,866	19,209
Total operating expenses	59,580	36,821	149,902	104,094
Loss from operations	(59,580)	(36,821)	(149,902)	(104,094)
Other income:
Interest income	4,198	1,500	9,207	1,879
Other income, net		259	950	1,592
Change in fair value of CVR liability			1,700
Total other income, net	4,198	1,759	11,857	3,471
Net loss	$ (55,382)	$ (35,062)	$ (138,045)	$ (100,623)
Net loss per share attributable to common stockholders, basic	$ (0.64)	$ (0.5)	$ (1.79)	$ (1.84)
Net loss per share attributable to common stockholders, diluted	$ (0.64)	$ (0.5)	$ (1.79)	$ (1.84)
Weighted average common shares outstanding, basic	86,165,951	69,576,359	77,274,580	54,780,041
Weighted average common shares outstanding, diluted	86,165,951	69,576,359	77,274,580	54,780,041
Comprehensive loss:
Net loss	$ (55,382)	$ (35,062)	$ (138,045)	$ (100,623)
Other comprehensive loss
Net unrealized losses on marketable securities	(75)	(163)	(68)	(163)
Total other comprehensive loss	(75)	(163)	(68)	(163)
Comprehensive loss	$ (55,457)	$ (35,225)	$ (138,113)	$ (100,786)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member] Series A Non-Voting Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Beginning Balances at Dec. 31, 2021	$ 214,184	$ 85,400	$ 44	$ 399,713		$ (270,973)
Beginning Balances, Shares at Dec. 31, 2021		103,289	43,805,922
Conversion of Series A non-voting preferred stock into common stock		$ (7,000)	$ 2	6,998
Conversion of Series A non-voting preferred stock into common stock, Shares		(7,955)	1,988,750
Issuance of common stock to settle CVR liability	129			129
Issuance of common stock to settle CVR liability, Shares			18,995
Issuance of common stock for services	9			9
Issuance of common stock for services, Shares			5,599
Stock-based compensation expense	4,175			4,175
Net loss	(30,634)					(30,634)
Ending Balances at Mar. 31, 2022	187,863	$ 78,400	$ 46	411,024		(301,607)
Ending Balances, Shares at Mar. 31, 2022		95,334	45,819,266
Beginning Balances at Dec. 31, 2021	214,184	$ 85,400	$ 44	399,713		(270,973)
Beginning Balances, Shares at Dec. 31, 2021		103,289	43,805,922
Net loss	(100,623)
Ending Balances at Sep. 30, 2022	289,942	$ 65,830	$ 70	595,801	$ (163)	(371,596)
Ending Balances, Shares at Sep. 30, 2022		81,050	69,857,972
Beginning Balances at Mar. 31, 2022	187,863	$ 78,400	$ 46	411,024		(301,607)
Beginning Balances, Shares at Mar. 31, 2022		95,334	45,819,266
Issuance of common stock, net of issuance costs	161,915		$ 18	161,897
Shares of common stock issued and sold			17,899,698
Conversion of Series A non-voting preferred stock into common stock		$ (7,000)	$ 2	6,998
Conversion of Series A non-voting preferred stock into common stock, Shares		(7,955)	1,988,750
Stock-based compensation expense	4,534			4,534
Net loss	(34,927)					(34,927)
Ending Balances at Jun. 30, 2022	$ 319,385	$ 71,400	$ 66	584,453		(336,534)
Ending Balances, Shares at Jun. 30, 2022		87,379	65,707,714
Conversion of Series A non-voting preferred stock into common stock		$ (5,570)	$ 2	5,568
Conversion of Series A non-voting preferred stock into common stock, Shares		(6,329)	1,582,250
Pre funded warrant exercise shares	2,424,242
Pre funded warrant exercise	$ 24		$ 2	22
Issuance of common stock under Employee Stock Purchase Plan	222			222
Issuance of common stock under Employee Stock Purchase Plan, Shares			30,005
Issuance of common stock upon exercise of stock options	914			914
Issuance of common stock upon exercise of stock options, Shares			113,761
Unrealized gains (losses) on marketable securities	(163)				(163)
Stock-based compensation expense	4,622			4,622
Net loss	(35,062)					(35,062)
Ending Balances at Sep. 30, 2022	289,942	$ 65,830	$ 70	595,801	(163)	(371,596)
Ending Balances, Shares at Sep. 30, 2022		81,050	69,857,972
Beginning Balances at Dec. 31, 2022	255,735	$ 65,830	$ 70	601,153	(104)	(411,214)
Beginning Balances, Shares at Dec. 31, 2022		81,050	69,893,434
Conversion of Series A non-voting preferred stock into common stock		$ (3,520)	$ 1	3,519
Conversion of Series A non-voting preferred stock into common stock, Shares		(4,000)	1,000,000
Issuance of common stock under Employee Stock Purchase Plan	313			313
Issuance of common stock under Employee Stock Purchase Plan, Shares			39,228
Issuance of common stock upon exercise of stock options	132			132
Issuance of common stock upon exercise of stock options, Shares			14,128
Unrealized gains (losses) on marketable securities	120				120
Stock-based compensation expense	5,850			5,850
Net loss	(38,587)					(38,587)
Ending Balances at Mar. 31, 2023	223,563	$ 62,310	$ 71	610,967	16	(449,801)
Ending Balances, Shares at Mar. 31, 2023		77,050	70,946,790
Beginning Balances at Dec. 31, 2022	255,735	$ 65,830	$ 70	601,153	(104)	(411,214)
Beginning Balances, Shares at Dec. 31, 2022		81,050	69,893,434
Net loss	(138,045)
Ending Balances at Sep. 30, 2023	302,898	$ 60,035	$ 86	792,208	(172)	(549,259)
Ending Balances, Shares at Sep. 30, 2023		74,465	86,124,249
Beginning Balances at Mar. 31, 2023	223,563	$ 62,310	$ 71	610,967	16	(449,801)
Beginning Balances, Shares at Mar. 31, 2023		77,050	70,946,790
Issuance of common stock, net of issuance costs	161,789		$ 14	161,775
Shares of common stock issued and sold			14,375,000
Issuance of common stock upon exercise of stock options	102			102
Issuance of common stock upon exercise of stock options, Shares			12,375
Unrealized gains (losses) on marketable securities	(113)				(113)
Stock-based compensation expense	7,163			7,163
Net loss	(44,076)					(44,076)
Ending Balances at Jun. 30, 2023	348,428	$ 62,310	$ 85	780,007	(97)	(493,877)
Ending Balances, Shares at Jun. 30, 2023		77,050	85,334,165
Conversion of Series A non-voting preferred stock into common stock		$ (2,275)	$ 1	2,274
Conversion of Series A non-voting preferred stock into common stock, Shares		(2,585)	646,250
Issuance of common stock under Employee Stock Purchase Plan	439			439
Issuance of common stock under Employee Stock Purchase Plan, Shares			46,650
Issuance of common stock upon exercise of stock options	731			731
Issuance of common stock upon exercise of stock options, Shares			97,184
Unrealized gains (losses) on marketable securities	(75)				(75)
Stock-based compensation expense	8,757			8,757
Net loss	(55,382)					(55,382)
Ending Balances at Sep. 30, 2023	$ 302,898	$ 60,035	$ 86	$ 792,208	$ (172)	$ (549,259)
Ending Balances, Shares at Sep. 30, 2023		74,465	86,124,249

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Underwritten Public Offering [Member]
Issuance cost	$ 10.7	$ 10.8

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (138,045)	$ (100,623)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	1,672	422
Stock-based compensation expense	21,770	13,331
Amortization of operating leases, right-of-use assets	1,122	4,519
Change in fair value of CVR liability	(1,700)
Net amortization (accretion) of premiums (discounts) on marketable securities	(871)	(456)
Right-of-use asset impairment		(396)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(2,477)	(3,119)
Other assets	(117)	(1,041)
Accounts payable	4,026	610
Accrued expenses and other current liabilities	5,542	5,781
Operating lease liability	(476)	(8,258)
Net cash used in operating activities	(109,554)	(89,230)
Cash flows from investing activities:
Purchases of property and equipment	(2,481)	(4,896)
Purchases of marketable securities	(297,888)	(148,233)
Maturities and sales of marketable securities	192,056
Net cash used in investing activities	(108,313)	(153,129)
Cash flows from financing activities:
Proceeds from issuance of shares of common stock, net of offering costs of $10.7 million	161,819
Proceeds from issuance of shares of common stock and pre-funded warrants, net of offering costs of $10.8 million		161,945
Proceeds from issuance of stock from employee stock purchase plan	752	351
Proceeds from issuance of common stock upon stock option exercises	965	923
Proceeds from pre-funded warrant exercises		24
Net cash provided by financing activities	163,536	163,243
Net decrease in cash, cash equivalents and restricted cash	(54,331)	(79,116)
Cash, cash equivalents and restricted cash at beginning of period	141,141	220,939
Cash, cash equivalents and restricted cash at end of period	86,810	141,823
Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for new operating lease liabilities		25,184
Supplemental disclosure of noncash investing and financing information:
Offering costs included in accounts payable and accrued expenses	30	30
Property & equipment included in accounts payable and accrued expenses	51	363
Conversion of Series A Convertible Preferred stock into common shares	$ 5,795	$ 19,570

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Common Stock Underwritten Public Offering [Member]
Offering/Issuance costs	$ 10.7	$ 10.8

Nature of the Business and Basi

Nature of the Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	1. Nature of the Business and Basis of Presentation Cogent Biosciences, Inc. (“Cogent” or the “Company”) is a biotechnology company focused on developing precision therapies for genetically defined diseases. Cogent’s approach is to design rational precision therapies that treat the underlying cause of disease and improve the lives of patients. Cogent’s most advanced program is bezuclastinib, also known as CGT9486, a highly selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. In the vast majority of cases, KIT D816V is responsible for driving Systemic Mastocytosis (“SM”), a serious and rare disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (“GIST”), a type of cancer with strong dependence on oncogenic KIT signaling. Bezuclastinib is a highly selective and potent KIT inhibitor with the potential to provide a new treatment option for these patient populations. In addition to bezuclastinib, the Company’s research team is developing a portfolio of novel targeted therapies to help patients fighting serious, genetically driven diseases, and is initially targeting FGFR2 and ErbB2. The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s drug development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales. The accompanying condensed consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. The Company has incurred recurring losses since inception, including a net loss of $ 138.0 million for the nine months ended September 30, 2023. As of September 30, 2023, the Company had an accumulated deficit of $ 549.3 million. The Company expects to continue to generate operating losses in the foreseeable future. As of the issuance date of the interim condensed consolidated financial statements, the Company expects that its cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months from issuance of the condensed consolidated financial statements. The Company expects that it will continue to incur significant expenses in connection with its ongoing business activities. The Company will need to seek additional funding through equity offerings, debt financings, collaborations, licensing arrangements or other marketing and distribution arrangements, partnerships, joint ventures, combinations or divestitures of one or more of its assets or businesses. The Company may not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into collaborative arrangements or divest its assets. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. Arrangements with collaborators or others may require the Company to relinquish rights to certain of its technologies or product candidates. If the Company is unable to obtain funding, the Company could be forced to delay, reduce or eliminate its research and development programs or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations. The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Unaudited Interim Financial Information The consolidated balance sheet at December 31, 2022 was derived from audited financial statements but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements as of September 30, 2023 and for the three and nine months ended September 30, 2023 and 2022 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K on file with the SEC. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s financial position as of September 30, 2023 and results of operations for the three and nine months ended September 30, 2023 and 2022 and cash flows for the nine months ended September 30, 2023 and 2022 have been made. The Company’s results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2023 . Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Mono, Inc. and Kiq Bio LLC. All intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, the valuation of the CVR liability and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions. Marketable Securities The Company’s marketable securities, consisting of debt securities, are classified as available-for-sale. Available-for-sale marketable debt securities are carried at fair value with the unrealized gains and losses included in other comprehensive income (loss) as a component of stockholders’ equity until realized. Any premium or discount arising at purchase is amortized and/or accreted to interest income and/or expense over the life of the instrument. Realized gains and losses are determined using the specific identification method and are included in other income (expense). The Company reviews its portfolio of available-for-sale debt securities, using both quantitative and qualitative factors, to determine if declines in fair value below cost have resulted from a credit-related loss or other factors. If the decline in fair value is due to credit-related factors, a loss is recognized in net income, and if the decline in fair value is not due to credit-related factors, the loss is recorded in other comprehensive income (loss).

Marketable Securities and Fair

Marketable Securities and Fair Value of Financial Assets and Liabilities	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Marketable Securities and Fair Value of Financial Assets and Liabilities	3. Marketable Securities and Fair Value of Financial Assets and Liabilities The following table summarizes the Company’s marketable securities (in thousands) : September 30, 2023 Amortized Gross Gross Fair U.S. Treasury bills and notes (due within one year) $ 192,357 $ 1 $ ( 127 ) $ 192,231 U.S. Treasury bills and notes (due after one through five years) 33,839 — ( 45 ) 33,794 $ 226,196 $ 1 $ ( 172 ) $ 226,025 December 31, 2022 Amortized Gross Gross Fair U.S. Treasury bills and notes (due within one year) $ 119,494 $ — $ ( 104 ) $ 119,390 $ 119,494 $ — $ ( 104 ) $ 119,390 As of September 30, 2023 , the Company held fifty-four securities that were in an unrealized loss position. The aggregate fair value of securities held by the Company in an unrealized loss position for less than twelve months as of September 30, 2023 was $ 206.1 million and there were no securities held by the Company in an unrealized loss position for more than twelve months. As of December 31, 2022, the Company held seven securities that were in an unrealized loss position. The aggregate fair value of securities held by the Company in an unrealized loss position for less than twelve months as of December 31, 2022 was $ 99.5 million and there were no securities held by the Company in an unrealized loss position for more than twelve months. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did no t record any charges for impairments for its marketable debt securities for the three and nine months ended September 30, 2023 and for the year ended December 31, 2022. The following tables present the Company’s fair value hierarchy for its financial assets and liabilities, which are measured at fair value on a recurring basis (in thousands) : Fair Value Measurements at September 30, 2023 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 55,957 $ — $ — $ 55,957 Marketable securities: U.S. Treasury bills and notes $ — $ 226,025 $ — $ 226,025 Total assets $ 55,957 $ 226,025 $ — $ 281,982 Fair Value Measurements at December 31, 2022 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 108,829 $ — $ — $ 108,829 Marketable securities: U.S. Treasury bills and notes $ — $ 119,390 $ — $ 119,390 Total assets $ 108,829 $ 119,390 $ — $ 228,219 Liabilities: CVR liability $ — $ — $ 1,700 $ 1,700 Total liabilities $ — $ — $ 1,700 $ 1,700 Money market funds were valued using quoted prices in active markets, which represent a Level 1 measurement in the fair value hierarchy. U.S. Treasury bills and notes were valued by the Company using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy. On July 6, 2020, the Company issued a non-transferrable contingent value right (“CVR”), which was distributed to stockholders of record as of the close of business on July 6, 2020, and prior to the issuance of any shares to acquire Kiq Bio LLC (“Kiq”) (the “Kiq Acquisition”) or sold to the Private Investment in Public Equity (“PIPE”) investors. Holders of the CVR are entitled to receive common shares and/or cash payments from proceeds received by the Company, if any, related to the disposition of its legacy cell therapy assets for a period of three years from July 2020. In accordance with the terms of the CVR agreement, the payment to CVR holders will be made in shares or cash, depending on the timing of the receipt of the sales proceeds by the Company. For sales proceeds received by the Company prior to December 31, 2020, CVR holders were entitled to receive payment in the form of common shares of the Company. For sales proceeds received by the Company after December 31, 2020 and prior to July 2023, CVR holders are entitled to receive payment in cash. The Company classifies the CVR as a liability on its condensed consolidated balance sheet. The fair value of the CVR liability was determined using the probability weighted discounted cash flow method to estimate future cash flows associated with the sale of the legacy cell therapy assets, including the Bolt-on Chimeric Receptor (“BOXR”) technology and Autologous Cell Therapy Industrial Automation technology (collectively, the “BOXR Platform”), Antibody-Coupled T cell Receptor technology and other fixed assets based on assumptions at the date of the CVR issuance and each subsequent quarterly period end, less certain permitted deductions. For sales proceeds received by the Company prior to December 31, 2020, the number of common shares to be received by CVR holders was determined by dividing the proceeds received by the Company by the closing price of the Company’s common stock on July 6, 2020 of $ 8.80 . The closing price of the Company’s common stock at each measurement date through February 2021 was used to determine the fair value of the share payments included in the CVR liability. The liability measured at the date of CVR issuance was recorded as a common stock dividend, returning capital to the legacy stockholders of record as of the close of business on July 6, 2020. Changes in fair value of the liability are recognized as a component of other income (expense) in the condensed consolidated statement of operations and comprehensive loss. The CVR liability was valued based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. On August 28, 2020, the Company sold its assets, rights and interests relating to its BOXR Platform, to Sotio. Pursuant to the BOXR Platform Purchase Agreement, Sotio has agreed to pay the Company total cash consideration of up to $ 11.5 million, consisting of an upfront payment of $ 8.1 million and potential milestone payments of up to $ 3.4 million in the aggregate upon the achievement of certain milestones related to the issuance of Specified Claims (as described in the BOXR Platform Purchase Agreement) by the U.S. Patent and Trademark Office and the European Patent Office. The upfront payment was received in 2020. In 2020, the Company also sold additional fixed assets used in the legacy business. Both transactions triggered payment to the CVR holders. In November 2020, the Company issued 707,938 shares of common stock in partial settlement of the CVR liability. In February 2021, the Company issued an additional 212,429 shares of common stock and paid $ 0.1 million in partial settlement of the CVR liability. Any settlement of the remaining CVR liability will be a cash settlement. In the fourth quarter of 2022, the Company updated the probability weighted discounted cash flow assumptions to reflect the then current probability of receiving the milestone payments from Sotio prior to the expiration of the CVR. Based on the Company’s assessment of the available information, this update resulted in a decrease in the probability of receiving the milestone payment prior to the expiration of the CVR and a corresponding decrease in the CVR liability of $ 1.4 million was recognized as a component of other income (expense) in 2022. Based on the Company’s assessment of the information available through the issuance date of the financial statements, the Company recorded an additional decrease in fair value of the liability of $ 1.7 million in the first quarter of 2023, reducing the liability to zero as the probability of additional CVR payments occurring prior to the expiration of CVR term is remote. The CVRs expired on August 6, 2023 and no further payments will be made to CVR holders. The following table sets forth a summary of the changes in the fair value of the Company’s CVR liability (in thousands) : Balance at December 31, 2021 $ 3,060 Change in fair value ( 1,360 ) Balance at December 31, 2022 $ 1,700 Change in fair value ( 1,700 ) Balance at September 30, 2023 $ — During the three and nine months ended September 30, 2023 and 2022 , there were no transfers between Level 1, Level 2 and Level 3.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	4. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands) : September 30, December 31, Accrued employee compensation and benefits $ 5,868 $ 6,063 Accrued external research and development expense 11,642 5,898 Accrued external manufacturing costs 2,275 3,741 Accrued professional and consulting services 3,264 1,778 Other 458 404 Total $ 23,507 $ 17,884

Preferred Stock, Series A Non-V

Preferred Stock, Series A Non-Voting Convertible Preferred Stock and Common Stock	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Preferred Stock, Series A Non-Voting Convertible Preferred Stock and Common Stock	5. Preferred Stock, Series A Non-Voting Convertible Preferred Stock and Common Stock The Company’s authorized capital stock consists of 150,000,000 shares of common stock, par value $ 0.001 per share, and 10,000,000 shares of preferred stock, par value $ 0.001 per share, 1,000,000 of which are designated as Series A Preferred Stock and 9,000,000 of which shares of preferred stock are undesignated. Series A Non-Voting Convertible Preferred Stock On July 6, 2020, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of the Series A Non-Voting Convertible Preferred Stock (“Series A Preferred Stock”) with the Secretary of State of the State of Delaware (the “Certificate of Designation”) in connection with the Kiq Acquisition and the PIPE. The Certificate of Designation provides for the issuance of shares of Series A Preferred Stock, par value $ 0.001 per share. Holders of Series A Preferred Stock are entitled to receive dividends on shares of Series A Preferred Stock equal, on an as-if-converted-to-common-stock basis, and in the same form as dividends actually paid on shares of the common stock. Except as otherwise required by law, the Series A Preferred Stock does not have voting rights. However, as long as any shares of Series A Preferred Stock are outstanding, the Company will not, without the affirmative vote of the holders of a majority of the then outstanding shares of the Series A Preferred Stock, (a) alter or change adversely the powers, preferences or rights given to the Series A Preferred Stock, (b) alter or amend the Certificate of Designation, (c) amend its certificate of incorporation or other charter documents in any manner that adversely affects any rights of the holders of Series A Preferred Stock, (d) increase the number of authorized shares of Series A Preferred Stock, (e) prior to the stockholder approval of the Conversion Proposal or at any time while at least 40 % of the originally issued Series A Preferred Stock remains issued and outstanding, consummate a Fundamental Transaction (as defined in the Certificate of Designation) or (f) enter into any agreement with respect to any of the foregoing. The Series A Preferred Stock does not have a preference upon any liquidation, dissolution or winding-up of the Company. Each share of Series A Preferred Stock is convertible at any time at the option of the holder thereof, into 250 shares of common stock, subject to certain limitations, including that a holder of Series A Preferred Stock is prohibited from converting shares of Series A Preferred Stock into shares of common stock if, as a result of such conversion, such holder, together with its affiliates, would beneficially own more than a specified percentage (to be established by the holder between 4.9 % and 19.9 %) of the total number of shares of common stock issued and outstanding immediately after giving effect to such conversion. Cumulatively, through September 30, 2023 , 88,860 shares of Series A Preferred Stock, or 54.4 % of the issued Series A Preferred Stock, have been converted into 22,215,000 shares of common stock. The 74,465 shares of Series A Preferred Stock outstanding as of September 30, 2023 are convertible into 18,616,250 shares of common stock. No other classes of preferred stock have been designated and no other preferred shares have been issued or are outstanding as of September 30, 2023. Common Stock Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are not entitled to receive dividends, unless declared by the board of directors. In the event of the Company’s liquidation, dissolution or winding up, holders of the Company’s common stock will be entitled to share ratably in all assets remaining after payment of all debts and other liabilities and any liquidation preference of any outstanding preferred stock. The shares to be issued by us in this offering will be, when issued and paid for, validly issued, fully paid and non-assessable. On May 6, 2022, the Company filed a shelf registration statement on Form S-3 with the SEC. The shelf registration statement allows the Company to sell from time-to-time up to $ 300.0 million of common stock, preferred stock, debt securities, warrants or units comprised of any combination of these securities, for its own account in one or more offerings. The terms of any offering under the shelf registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to the completion of any such offering. Additionally, on May 6, 2022, pursuant to the Form S-3, the Company entered into a Sales Agreement (the “Sales Agreement”) with Guggenheim Securities, LLC (“Guggenheim Securities”), pursuant to which the Company may issue and sell, from time to time, shares of its common stock having an aggregate offering price of up to $ 75.0 million through Guggenheim Securities, as the sales agent. As of September 30, 2023 , no shares have been sold under the Sales Agreement. On June 13, 2022, the Company completed an underwritten public offering of 17,899,698 shares of its common stock at a public offering price of $ 8.25 per share (including the exercise in full by the underwriters of their 30 -day option to purchase up to 2,730,000 additional shares of common stock) and, in lieu of common stock to certain investors, pre-funded warrants to purchase 3,030,302 shares of its common stock at a purchase price of $ 8.24 per underlying share. The net proceeds from the offering were approximately $ 161.9 million, after deducting the underwriting discounts and commissions of $ 10.4 million and offering expenses of $ 0.4 million. Each pre-funded warrant entitles the holder to purchase shares of common stock at an exercise price of $ 0.01 per share and is exercisable at any time beginning on the date of issuance. These warrants were recorded as a component of stockholders’ equity within additional paid-in capital. Per the terms of the warrant agreement, a holder of the outstanding warrant is not entitled to exercise any portion of the pre-funded warrant if, upon giving effect to such exercise, would cause the aggregate number of shares of common stock beneficially owned by such holder (together with its affiliates and any other person whose beneficial ownership of common stock would be aggregated with the holder) to exceed 9.99 % of the total number of then issued and outstanding shares of common stock, as such percentage ownership is determined in accordance with the terms of the pre-funded warrant and subject to such holder’s rights under the pre-funded warrant to increase or decrease such percentage to any other percentage not in excess of 19.99 % upon at least 61 days’ prior notice from such holder. As of September 30, 2023 , 2,424,242 pre-funded warrants have been exercised and 606,060 pre-funded warrants remain outstanding. On February 10, 2023, the Company filed a Form S-3ASR with the SEC (“2023 Shelf Registration”) for the issuance of common stock, preferred stock, warrants, rights, debt securities and units, which became effective immediately upon filing. At the time any of the securities covered by the 2023 Shelf Registration Statement are offered for sale, a prospectus supplement will be prepared and filed with the SEC containing specific information about the terms of any such offering. In June 2023, the Company completed an underwritten public offering of 14,375,000 shares of its common stock at a public offering price of $ 12.00 per share (including the exercise in full by the underwriters of their 30 -day option to purchase up to 1,875,000 additional shares of common stock). The net proceeds from the offering were approximately $ 161.8 million, after deducting the underwriting discounts and commissions of $ 10.3 million and offering expenses of $ 0.4 million.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	6. Stock-Based Compensation 2018 Stock Option and Incentive Plan The Company’s 2018 Stock Option and Incentive Plan, (the “2018 Plan”), which became effective on March 27, 2018, provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock units, restricted stock awards, unrestricted stock awards, cash-based awards and dividend equivalent rights. The number of shares initially reserved for issuance under the 2018 Plan was 700,180 . Additionally, the shares of common stock that remained available for issuance under the previously outstanding 2015 Stock Incentive Plan (the “2015 Plan”) became available under the 2018 Plan. The number of shares reserved for the 2018 Plan automatically increases on each January 1 by 4 % of the number of shares of the Company’s common stock outstanding on the immediately preceding December 31 or a lesser number of shares determined by the Company’s board of directors. Additionally, at the Company’s 2021 annual stockholder meeting, the Company’s stockholders approved the amendment and restatement of the 2018 Stock Plan to increase the number of shares of common stock issuable under the 2018 Plan by 6,000,000 shares. The number of authorized shares reserved for issuance under the 2018 Plan was increased by 2,795,737 shares effective as of January 1, 2023. On June 7, 2023, at the Company’s 2023 annual stockholder meeting, the Company’s stockholders approved the amendment and restatement of the 2018 Plan to increase the number of shares of common stock issuable under the 2018 Plan by an additional 6,000,000 shares (the “2023 Pool Increase”). The shares of common stock underlying any awards that are forfeited, canceled, held back upon exercise or settlement of an award to satisfy the exercise price or tax withholding, repurchased or are otherwise terminated by the Company under the 2018 Plan or the 2015 Plan will be added back to the shares of common stock available for issuance under the 2018 Plan. As of September 30, 2023 , 4,170,828 shares of common stock remain available for issuance under the 2018 Plan. Inducement Plan On October 22, 2020, the board of directors adopted the Cogent Biosciences, Inc. 2020 Inducement Plan (the “Inducement Plan”). The board of directors also adopted a form of non-qualified stock option agreement for use with the Inducement Plan. A total of 3,750,000 shares of common stock have been reserved for issuance under the Inducement Plan, subject to adjustment for stock dividends, stock splits, or other changes in Cogent’s common stock or capital structure. On November 5, 2020, the Company filed a Registration Statement on Form S-8 related to the 3,750,000 shares of its common stock reserved for issuance under the Inducement Plan. As of September 30, 2023 , 677,995 shares of common stock remain available for issuance under the Inducement Plan. 2018 Employee Stock Purchase Plan The Company’s 2018 Employee Stock Purchase Plan (the “ESPP”) became effective on March 28, 2018, at which time a total of 78,500 shares of common stock were reserved for issuance. In addition, the number of shares of common stock that may be issued under the ESPP automatically increases on each January 1 through January 1, 2027, by the least of (i) 125,000 shares of common stock, (ii) 1 % of the number of shares of the Company’s common stock outstanding on the immediately preceding December 31 or (iii) such lesser number of shares as determined by the ESPP administrator. The number of authorized shares reserved for issuance under the ESPP was increased by 125,000 shares effective as of January 1, 2023. As of September 30, 2023 , 443,390 shares remain available for issuance under the ESPP. Performance-based restricted stock units In February 2023, the Board approved grants in aggregate of up to 2,500,000 performance-based restricted stock units (“PSUs”) under the 2018 Plan, which grants were subject to forfeiture in the event that the Company’s stockholders did not approve the 2023 Pool Increase. On June 7, 2023 , stockholders approved the 2023 Pool Increase and a grant date was established for accounting purposes for these PSUs in accordance with ASC 718 Compensation- Stock Compensation. An award holder can generally receive between 0 % and 200 % of the target award based on achievement of specified stock price hurdles and/or research and development milestones over a three-year performance period ending in February 2026. Any PSUs earned will vest, if at all, in a single tranche in February 2026 subject to a condition of continuing employment through the end of the performance period. As of September 30, 2023, none of the performance targets are probable of achievement. The fair value of the market-based awards was estimated on the date of grant for accounting purposes using a Monte Carlo simulation model. The fair value of the performance-based awards was based on the closing share price of the Company’s common stock on the accounting grant date. Stock-Based Compensation The following table summarizes stock-based compensation expense during the three and nine months ended September 30, 2023 (in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock-based compensation expense by type of award: Time-based stock options $ 6,795 $ 4,551 $ 19,124 $ 13,177 Employee stock purchase plan 106 71 306 154 Performance-based restricted stock units 1,856 — 2,340 — Total $ 8,757 $ 4,622 $ 21,770 $ 13,331 The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Research and development expenses 4,005 $ 2,049 $ 10,510 $ 6,080 General and administrative expenses 4,752 2,573 11,260 7,251 Total $ 8,757 $ 4,622 $ 21,770 $ 13,331 As of September 30, 2023 , total unrecognized compensation cost related to the unvested stock-based options was $ 55.0 million, which is expected to be recognized over a weighted averag e period of 2.32 ye ars. As of September 30, 2023 , the total minimum amount of unrecognized compensation cost related to the stock price hurdles for the unvested PSUs was $ 17.5 million based on the maximum achievement of 200 % of the target award, which is expected to be recognized ratably over a weighted average period of 2.38 years. If any research or development milestones become probable of achievement, the Company will recognize incremental stock compensation expense of up to $ 2.4 million through a cumulative catch up adjustment in the period of change in probability.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies License Agreements Plexxikon License Agreement In July 2020, the Company obtained an exclusive, sublicensable, worldwide license (the “License Agreement”) to certain patents and other intellectual property rights to research, develop and commercialize bezuclastinib. Under the terms of the License Agreement, the Company is required to pay Plexxikon Inc. (“Plexxikon”) aggregate payments of up to $ 7.5 million upon the satisfaction of certain clinical milestones and up to $ 25.0 million upon the satisfaction of certain regulatory milestones. During the second quarter of 2022, as a result of the progression of the PEAK study, the first clinical milestone was achieved, resulting in payment of $ 2.5 million to Plexxikon in June 2022. As of September 30, 2023 , no other milestone payments have been made or are considered probable of occurring. The Company is also required to pay Plexxikon tiered royalties ranging from a low-single digit percentage to a high-single digit percentage on annual net sales of products. These royalty obligations last on a product-by-product basis and country-by-country basis until the latest of (i) the date on which there is no valid claim of a licensed Plexxikon patent covering a subject product in such country or (ii) the 10th anniversary of the date of the first commercial sale of the product in such country. In addition, if the Company sublicenses the rights under the License Agreement, the Company is required to pay a certain percentage of the sublicense revenue to Plexxikon ranging from mid-double digit percentages to mid-single digit percentages, depending on whether the sublicense is entered into prior to or after certain clinical trial events. The license agreement will expire on a country-by-country and licensed product-by-licensed product basis until the later of the last to expire of the patents covering such licensed products or services or the 10-year anniversary of the date of first commercial sale of the licensed product in such country. The Company may terminate the license agreement within 30 days after written notice in the event of a material breach. The Company may also terminate the agreement upon written notice in the event of the Company’s bankruptcy, liquidation or insolvency. In addition, the Company has the right to terminate this agreement in its entirety at will upon 90 days’ advance written notice to Plexxikon. Indemnification Agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and its executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is not aware of any claims under indemnification arrangements that will have a material effect on its financial position, results of operations or cash flows, and it has not accrued any liabilities related to such obligations in its condensed consolidated financial statements as of September 30, 2023 or its consolidated financial statements as of December 31, 2022. Legal Proceedings The Company is not currently party to any material legal proceedings. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company expenses as incurred the costs related to such legal proceedings.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	8. Net Loss Per Share Basic and diluted net loss per common share was calculated as follows (in thousands, except share and per share amounts) : Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss $ ( 55,382 ) $ ( 35,062 ) $ ( 138,045 ) $ ( 100,623 ) Net loss attributable to common stockholders $ ( 55,382 ) $ ( 35,062 ) $ ( 138,045 ) $ ( 100,623 ) Denominator: Weighted average common shares outstanding, basic 86,165,951 69,576,359 77,274,580 54,780,041 Net loss per common share, basic and diluted $ ( 0.64 ) $ ( 0.50 ) $ ( 1.79 ) $ ( 1.84 ) The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive and would result in a reduction to net loss per share. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect: September 30, 2023 2022 Stock options to purchase common stock 15,519,578 8,156,538 Restricted stock units subject to vesting 2,500,000 — Series A Preferred Stock 18,616,250 25,822,250 36,635,828 33,978,788 In accordance with ASC Topic 260, Earnings Per Share, the outstanding pre-funded warrants are included in the computation of basic and diluted net loss per share because the exercise price is negligible ($ 0.01 per share) and they are fully vested and exercisable at any time after the original issuance date.

Retirement Plan

Retirement Plan	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Retirement Plan	9. Retirement Plan The Company has a defined-contribution plan under Section 401(k) of the Internal Revenue Code (the “401(k) Plan”). The 401(k) Plan covers all employees who meet defined minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax b asis. The 401(k) Plan allows for discretionary matching contributions of 100 % of the first 4 % of elective contributions, which vest immediately. Contributions under the plan were approximately $ 0.2 million and $ 0.1 million for the three months ended September 30, 2023 and 2022, respectively. Contributions under the plan were approximately $ 0.9 million and $ 0.5 million for the nine months ended September 30, 2023 and 2022 , respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The consolidated balance sheet at December 31, 2022 was derived from audited financial statements but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements as of September 30, 2023 and for the three and nine months ended September 30, 2023 and 2022 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K on file with the SEC. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s financial position as of September 30, 2023 and results of operations for the three and nine months ended September 30, 2023 and 2022 and cash flows for the nine months ended September 30, 2023 and 2022 have been made. The Company’s results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2023 .
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Mono, Inc. and Kiq Bio LLC. All intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, the valuation of the CVR liability and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions.
Marketable Securities	Marketable Securities The Company’s marketable securities, consisting of debt securities, are classified as available-for-sale. Available-for-sale marketable debt securities are carried at fair value with the unrealized gains and losses included in other comprehensive income (loss) as a component of stockholders’ equity until realized. Any premium or discount arising at purchase is amortized and/or accreted to interest income and/or expense over the life of the instrument. Realized gains and losses are determined using the specific identification method and are included in other income (expense). The Company reviews its portfolio of available-for-sale debt securities, using both quantitative and qualitative factors, to determine if declines in fair value below cost have resulted from a credit-related loss or other factors. If the decline in fair value is due to credit-related factors, a loss is recognized in net income, and if the decline in fair value is not due to credit-related factors, the loss is recorded in other comprehensive income (loss).

Marketable Securities and Fai_2

Marketable Securities and Fair Value of Financial Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Marketable Securities	The following table summarizes the Company’s marketable securities (in thousands) : September 30, 2023 Amortized Gross Gross Fair U.S. Treasury bills and notes (due within one year) $ 192,357 $ 1 $ ( 127 ) $ 192,231 U.S. Treasury bills and notes (due after one through five years) 33,839 — ( 45 ) 33,794 $ 226,196 $ 1 $ ( 172 ) $ 226,025 December 31, 2022 Amortized Gross Gross Fair U.S. Treasury bills and notes (due within one year) $ 119,494 $ — $ ( 104 ) $ 119,390 $ 119,494 $ — $ ( 104 ) $ 119,390
Schedule of Financial Assets and Liabilities at Fair Value on Recurring Basis	The following tables present the Company’s fair value hierarchy for its financial assets and liabilities, which are measured at fair value on a recurring basis (in thousands) : Fair Value Measurements at September 30, 2023 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 55,957 $ — $ — $ 55,957 Marketable securities: U.S. Treasury bills and notes $ — $ 226,025 $ — $ 226,025 Total assets $ 55,957 $ 226,025 $ — $ 281,982 Fair Value Measurements at December 31, 2022 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 108,829 $ — $ — $ 108,829 Marketable securities: U.S. Treasury bills and notes $ — $ 119,390 $ — $ 119,390 Total assets $ 108,829 $ 119,390 $ — $ 228,219 Liabilities: CVR liability $ — $ — $ 1,700 $ 1,700 Total liabilities $ — $ — $ 1,700 $ 1,700
Summary of Changes in the Fair Value of Company's CVR Liability	The following table sets forth a summary of the changes in the fair value of the Company’s CVR liability (in thousands) : Balance at December 31, 2021 $ 3,060 Change in fair value ( 1,360 ) Balance at December 31, 2022 $ 1,700 Change in fair value ( 1,700 ) Balance at September 30, 2023 $ —

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands) : September 30, December 31, Accrued employee compensation and benefits $ 5,868 $ 6,063 Accrued external research and development expense 11,642 5,898 Accrued external manufacturing costs 2,275 3,741 Accrued professional and consulting services 3,264 1,778 Other 458 404 Total $ 23,507 $ 17,884

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense by Type of Award	The following table summarizes stock-based compensation expense during the three and nine months ended September 30, 2023 (in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock-based compensation expense by type of award: Time-based stock options $ 6,795 $ 4,551 $ 19,124 $ 13,177 Employee stock purchase plan 106 71 306 154 Performance-based restricted stock units 1,856 — 2,340 — Total $ 8,757 $ 4,622 $ 21,770 $ 13,331
Schedule of Stock Based Compensation Expense	The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands) : Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Research and development expenses 4,005 $ 2,049 $ 10,510 $ 6,080 General and administrative expenses 4,752 2,573 11,260 7,251 Total $ 8,757 $ 4,622 $ 21,770 $ 13,331

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	Basic and diluted net loss per common share was calculated as follows (in thousands, except share and per share amounts) : Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss $ ( 55,382 ) $ ( 35,062 ) $ ( 138,045 ) $ ( 100,623 ) Net loss attributable to common stockholders $ ( 55,382 ) $ ( 35,062 ) $ ( 138,045 ) $ ( 100,623 ) Denominator: Weighted average common shares outstanding, basic 86,165,951 69,576,359 77,274,580 54,780,041 Net loss per common share, basic and diluted $ ( 0.64 ) $ ( 0.50 ) $ ( 1.79 ) $ ( 1.84 )
Summary of Potential Dilutive Securities	The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive and would result in a reduction to net loss per share. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect: September 30, 2023 2022 Stock options to purchase common stock 15,519,578 8,156,538 Restricted stock units subject to vesting 2,500,000 — Series A Preferred Stock 18,616,250 25,822,250 36,635,828 33,978,788

Nature of the Business and Ba_2

Nature of the Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (55,382)	$ (44,076)	$ (38,587)	$ (35,062)	$ (34,927)	$ (30,634)	$ (138,045)	$ (100,623)
Accumulated deficit	$ (549,259)						$ (549,259)		$ (411,214)

Marketable Securities and Fai_3

Marketable Securities and Fair Value of Financial Assets and Liabilities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	$ 226,196	$ 119,494
Marketable Securities, Gross Unrealized Gains	1
Marketable Securities, Gross Unrealized Losses	(172)	(104)
Marketable Securities, Fair Value	226,025	119,390
U.S. Treasury Bills and Notes (Due within One Year) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	192,357	119,494
Marketable Securities, Gross Unrealized Gains	1
Marketable Securities, Gross Unrealized Losses	(127)	(104)
Marketable Securities, Fair Value	192,231	$ 119,390
U.S. Treasury Bills and Notes (Due After One Through Five Years) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Amortized Cost	33,839
Marketable Securities, Gross Unrealized Losses	(45)
Marketable Securities, Fair Value	$ 33,794

Marketable Securities and Fai_4

Marketable Securities and Fair Value of Financial Assets and Liabilities - Schedule of Financial Assets and Liabilities at Fair Value on Recurring Basis (Detail) - Recurring Basis [Member] - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets:
Total assets	$ 281,982	$ 228,219
Liabilities:
CVR liability		1,700
Total liabilities		1,700
Level 1 [Member]
Assets:
Total assets	55,957	108,829
Level 2 [Member]
Assets:
Total assets	226,025	119,390
Level 3 [Member]
Liabilities:
CVR liability		1,700
Total liabilities		1,700
Money Market Funds [Member]
Assets:
Cash equivalents	55,957	108,829
Money Market Funds [Member] | Level 1 [Member]
Assets:
Cash equivalents	55,957	108,829
U.S. Treasury Bills and Notes [Member]
Assets:
Marketable Securities	226,025	119,390
U.S. Treasury Bills and Notes [Member] | Level 2 [Member]
Assets:
Marketable Securities	$ 226,025	$ 119,390

Marketable Securities and Fai_5

Marketable Securities and Fair Value of Financial Assets and Liabilities - Additional Information (Detail)		1 Months Ended		3 Months Ended		9 Months Ended	12 Months Ended
	Aug. 06, 2023	Feb. 28, 2021 USD ($) shares	Nov. 30, 2020 shares	Sep. 30, 2023 USD ($) Security	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) Security	Dec. 31, 2022 USD ($) Security	Sep. 30, 2022 USD ($)	Aug. 28, 2020 USD ($)	Jul. 06, 2020 $ / shares
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Closing price of stock | $ / shares										$ 8.8
Fair value asset, transfers between Level 1, Level 2 and Level 3, amount				$ 0		$ 0		$ 0
Number of held securities in an unrealized loss position | Security				54		54	7
Unrealized loss possition less than 12 months				$ 206,100,000		$ 206,100,000	$ 99,500,000
Unrealized loss position more than 12 months				0		0	0
Marketable debt securities, charges for credit-related impairments				$ 0		0	0
CVR expired date	Aug. 06, 2023
SOTIO [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | BOXR Platform [Member]
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Disposal group, not discontinued operation, upfront payment									$ 8,100,000
Maximum [Member] | SOTIO [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | BOXR Platform [Member]
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Disposal group, not discontinued operation, cash consideration									11,500,000
Disposal group, not discontinued operation, potential milestone payments upon achievement of specified claims issuance									$ 3,400,000
CVR Liability [Member]
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
CVR liability, term										3 years
Issuance of common stock | shares		212,429	707,938
Payments of probable reduction					$ 0
Partial settlement		$ 100,000
Decrease in fair value					$ 1,700,000	$ 1,700,000	$ 1,360,000

Marketable Securities and Fai_6

Marketable Securities and Fair Value of Financial Assets and Liabilities - Summary of Changes in the Fair Value of Company's CVR Liability (Detail) - CVR Liability [Member] - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Feb. 28, 2021	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance		$ 1,700	$ 1,700	$ 3,060
Change in fair value		$ (1,700)	$ (1,700)	$ (1,360)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Change In Fair Value Of Contingent Value Right Liability	Change In Fair Value Of Contingent Value Right Liability
CVR settlement	$ (100)
Ending balance			$ 0	$ 1,700

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued employee compensation and benefits	$ 5,868	$ 6,063
Accrued external research and development expense	11,642	5,898
Accrued external manufacturing costs	2,275	3,741
Accrued professional and consulting services	3,264	1,778
Other	458	404
Total	$ 23,507	$ 17,884

Preferred Stock, Series A Non_2

Preferred Stock, Series A Non-Voting Convertible Preferred Stock and Common Stock - Additional Information (Detail) - USD ($)			1 Months Ended	3 Months Ended						9 Months Ended	39 Months Ended
	Jun. 13, 2022	May 06, 2022	Jun. 30, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Common stock, Shares authorized				150,000,000						150,000,000	150,000,000	150,000,000
Common stock, Par value				$ 0.001						$ 0.001	$ 0.001	$ 0.001
Preferred stock, par value				$ 0.001						$ 0.001	$ 0.001
Preferred stock, shares authorized				10,000,000						10,000,000	10,000,000
Preferred stock, shares outstanding				0						0	0
Preferred stock, shares issued				0						0	0
Proceeds from issuance of common stock to LPC										$ 161,819,000
Pre-funded warrants, purchase price per share				$ 0.01						$ 0.01	$ 0.01
Underwritten Public Offering [Member]
Class Of Stock [Line Items]
Beneficial ownership limitation percentage for conversion of common stock issued and outstanding	9.99%
Shares of common stock issued and sold	17,899,698		14,375,000
Exercise of stock options additional shares of common stock	2,730,000		1,875,000
Stock offering price, per share	$ 8.25		$ 12		$ 12
Proceeds from issuance of common stock to LPC	$ 161,900,000		$ 161,800,000
Underwriting discounts and commissions expenses	10,400,000		10,300,000
Offering expenses	$ 400,000		$ 400,000
Pre-funded warrants, shares	3,030,302
Pre-funded warrants exercised				2,424,242						2,424,242	2,424,242
Pre-funded warrants remain outstanding				606,060						606,060	606,060
Underwriters exercise period option	30 days		30 days
Guggenheim Securities, LLC [Member]
Class Of Stock [Line Items]
Shares of common stock issued and sold										0
Maximum [Member]
Class Of Stock [Line Items]
Proceeds from issuance of equity and debt financing		$ 300,000,000
Maximum [Member] | Underwritten Public Offering [Member]
Class Of Stock [Line Items]
Beneficial ownership limitation percentage for conversion of common stock issued and outstanding	19.99%
Maximum [Member] | Guggenheim Securities, LLC [Member]
Class Of Stock [Line Items]
Stock offering cost		$ 75,000,000
Common Stock [Member]
Class Of Stock [Line Items]
Conversion of preferred stock into common stock, Shares				646,250		1,000,000	1,582,250	1,988,750	1,988,750		22,215,000
Common stock voting right										Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders.
Shares of common stock issued and sold					14,375,000			17,899,698
Exercise of stock options additional shares of common stock				97,184	12,375	14,128	113,761
Pre-funded warrants, purchase price per share	$ 0.01
Common Stock [Member] | Underwritten Public Offering [Member]
Class Of Stock [Line Items]
Pre-funded warrants, purchase price per share	$ 8.24
Series A Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock, par value				$ 0.001						$ 0.001	$ 0.001
Minimum percentage of originally issued shares remain issued and outstanding				40%						40%	40%
Convertible preferred stock, common stock issuable upon conversion				250						250	250
Percentage of preferred stock issued				54.40%						54.40%	54.40%
Cumulative amount of shares conversion											88,860
Series A Preferred Stock [Member] | Minimum [Member]
Class Of Stock [Line Items]
Beneficial ownership limitation percentage for conversion of common stock issued and outstanding				4.90%						4.90%	4.90%
Series A Preferred Stock [Member] | Maximum [Member]
Class Of Stock [Line Items]
Beneficial ownership limitation percentage for conversion of common stock issued and outstanding				19.90%						19.90%	19.90%
Series A Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock, par value				$ 0.001						$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized				1,000,000						1,000,000	1,000,000	1,000,000
Preferred stock, shares outstanding				74,465						74,465	74,465	81,050
Common stock issued upon conversion of preferred stock				18,616,250						18,616,250	18,616,250
Preferred stock, shares issued				74,465						74,465	74,465	81,050
Undesignated Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock, par value				$ 0.001						$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized				9,000,000						9,000,000	9,000,000	9,000,000
Preferred stock, shares outstanding				0						0	0	0
Preferred stock, shares issued				0						0	0	0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands					1 Months Ended	9 Months Ended
	Jun. 07, 2023	Jan. 01, 2023	Mar. 28, 2018	Mar. 27, 2018	Feb. 28, 2023	Sep. 30, 2023	Sep. 30, 2022	Nov. 05, 2020	Oct. 22, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						$ 21,770	$ 13,331
Unrecognized compensation expenses, recognition period						2 years 4 months 17 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental stock compensation expense						$ 2,400
2020 Inducement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance						677,995
Shares reserved for future issuance								3,750,000	3,750,000
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost						$ 55,000
Unrecognized compensation expenses, recognition period						2 years 3 months 25 days
Unvested PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost						$ 17,500
Percentage of Share Based Compensation Nonvested Awards Stock Maximum Achievement						200%
2018 Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of increases in authorized shares				700,180
Percentage applied to the outstanding shares as annual increase in the number of shares authorized for issuance				4%
Increased in authorized shares reserved for issuance	6,000,000	2,795,737		6,000,000
Shares available for issuance						4,170,828
Expiration period					3 years
2018 Stock Option and Incentive Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award					0%
2018 Stock Option and Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares grants					2,500,000
Percentage of vesting of award					200%
2018 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increased in authorized shares reserved for issuance		125,000
Shares available for issuance						443,390
Shares reserved for future issuance			78,500
2018 Employee Stock Purchase Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of increases in authorized shares			125,000
Percentage of shares of common stock available for issuance			1%

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock-based Compensation Expense by Type of Award (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	$ 8,757	$ 4,622	$ 21,770	$ 13,331
Employee Stock [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	106	71	306	154
Time Based Stock Options [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	6,795	$ 4,551	19,124	$ 13,177
Performance-Based Restricted Stock Units [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	$ 1,856		$ 2,340

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Stock Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 8,757	$ 4,622	$ 21,770	$ 13,331
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	4,005	2,049	10,510	6,080
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 4,752	$ 2,573	$ 11,260	$ 7,251

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Plexxikon License Agreement [Member] - USD ($)	1 Months Ended	9 Months Ended
	Jul. 30, 2020	Sep. 30, 2023	Jun. 30, 2022
Commitments And Contingencies Disclosure [Line Items]
Clinical milestone achieved, triggering payment			$ 2,500,000
Other milestone payments		$ 0
License agreement expiration terms		The license agreement will expire on a country-by-country and licensed product-by-licensed product basis until the later of the last to expire of the patents covering such licensed products or services or the 10-year anniversary of the date of first commercial sale of the licensed product in such country. The Company may terminate the license agreement within 30 days after written notice in the event of a material breach. The Company may also terminate the agreement upon written notice in the event of the Company’s bankruptcy, liquidation or insolvency. In addition, the Company has the right to terminate this agreement in its entirety at will upon 90 days’ advance written notice to Plexxikon.
Maximum [Member]
Commitments And Contingencies Disclosure [Line Items]
Aggregate payments received upon satisfaction of clinical milestones	$ 7,500,000
Aggregate payments received	$ 25,000,000

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Earnings Per Share Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (55,382)	$ (44,076)	$ (38,587)	$ (35,062)	$ (34,927)	$ (30,634)	$ (138,045)	$ (100,623)
Net loss attributable to common stockholders	$ (55,382)			$ (35,062)			$ (138,045)	$ (100,623)
Weighted average common shares outstanding, basic	86,165,951			69,576,359			77,274,580	54,780,041
Weighted average common shares outstanding, diluted	86,165,951			69,576,359			77,274,580	54,780,041
Net loss per common share, basic	$ (0.64)			$ (0.5)			$ (1.79)	$ (1.84)
Net loss per common share, diluted	$ (0.64)			$ (0.5)			$ (1.79)	$ (1.84)

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Potential Dilutive Securities (Detail) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	36,635,828	33,978,788
Stock Options to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	15,519,578	8,156,538
Restricted Stock Units Subject to Vesting [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	2,500,000
Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	18,616,250	25,822,250

Net Loss Per Share - Additional

Net Loss Per Share - Additional Information (Details)	Sep. 30, 2023 $ / shares
Earnings Per Share [Abstract]
Pre-funded warrants, exercise price	$ 0.01

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution percentage of match			100%
Defined contribution plan, matching amount	$ 0.2	$ 0.1	$ 0.9	$ 0.5
Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution percent			4%