Editas Medicine (EDIT) 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Entity File Number	001-37687
Entity Registrant Name	EDITAS MEDICINE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4097528
Entity Address, Address Line One	11 Hurley Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	617
Local Phone Number	401-9000
Title of 12(b) Security	Common Stock
Trading Symbol	EDIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		68,995,606
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001650664
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 129,021	$ 141,522
Marketable securities	189,418	202,752
Accounts receivable	242	5,145
Prepaid expenses and other current assets	5,777	7,335
Total current assets	324,458	356,754
Marketable securities	83,339	93,097
Property and equipment, net	13,211	15,569
Right-of-use assets	36,344	43,648
Restricted cash and other non-current assets	6,753	5,253
Total assets	464,105	514,321
Current liabilities:
Accounts payable	9,047	9,511
Accrued expenses	31,560	31,296
Deferred revenue, current	8,221	8,221
Operating lease liabilities	8,327	11,082
Total current liabilities	57,155	60,110
Operating lease liabilities, net of current portion	28,810	32,864
Deferred revenue, net of current portion	60,667	60,667
Total liabilities	146,632	153,641
Stockholders' equity
Preferred stock, $0.0001 par value per share: 5,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.0001 par value per share: 195,000,000 shares authorized; 68,993,591 and 68,847,382 shares issued, and 68,993,591 and 68,847,382 shares outstanding at March 31, 2023 and December 31, 2022, respectively	7	7
Additional paid-in capital	1,446,912	1,442,405
Accumulated other comprehensive loss	(2,279)	(3,601)
Accumulated deficit	(1,127,167)	(1,078,131)
Total stockholders' equity	317,473	360,680
Total liabilities and stockholders' equity	$ 464,105	$ 514,321

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	195,000,000	195,000,000
Common stock, shares issued	68,993,591	68,847,382
Common stock, shares outstanding	68,993,591	68,847,382

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Consolidated Statements of Operations
Collaboration and other research and development revenues	$ 9,851	$ 6,771
Revenue type	us-gaap:ServiceMember	us-gaap:ServiceMember
Operating expenses:
Research and development	$ 37,804	$ 37,976
General and administrative	23,008	19,545
Total operating expenses	60,812	57,521
Operating loss	(50,961)	(50,750)
Other income, net:
Other expense, net	(1,584)	(234)
Interest income, net	3,509	469
Total other income, net	1,925	235
Net loss	$ (49,036)	$ (50,515)
Net loss per share, basic (in dollars per share)	$ (0.71)	$ (0.74)
Net loss per share, diluted (in dollars per share)	$ (0.71)	$ (0.74)
Weighted-average common shares outstanding, basic (in shares)	68,924,180	68,484,978
Weighted-average common shares outstanding, diluted (in shares)	68,924,180	68,484,978

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (49,036)	$ (50,515)
Other comprehensive loss:
Unrealized gain (loss) on marketable debt securities	1,322	(2,016)
Comprehensive loss	$ (47,714)	$ (52,531)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Other Accumulated Deficit	Total
Balance, beginning of period at Dec. 31, 2021	$ 7	$ 1,411,827	$ (493)	$ (857,699)	$ 553,642
Balance, beginning of period (in shares) at Dec. 31, 2021	68,435,257
Statement of Stockholders' Equity (Deficit)
Exercise of stock options		218			218
Exercise of stock options (in shares)	12,573
Vesting of restricted common stock awards (in shares)	154,834
Stock-based compensation expense		11,431			11,431
Unrealized gain (loss) on marketable debt securities			(2,016)		(2,016)
Net loss				(50,515)	(50,515)
Balance, end of period at Mar. 31, 2022	$ 7	1,423,476	(2,509)	(908,214)	512,760
Balance, end of period (in shares) at Mar. 31, 2022	68,602,664
Balance, beginning of period at Dec. 31, 2022	$ 7	1,442,405	(3,601)	(1,078,131)	360,680
Balance, beginning of period (in shares) at Dec. 31, 2022	68,847,382
Statement of Stockholders' Equity (Deficit)
Vesting of restricted common stock awards (in shares)	146,209
Stock-based compensation expense		4,507			4,507
Unrealized gain (loss) on marketable debt securities			1,322		1,322
Net loss				(49,036)	(49,036)
Balance, end of period at Mar. 31, 2023	$ 7	$ 1,446,912	$ (2,279)	$ (1,127,167)	$ 317,473
Balance, end of period (in shares) at Mar. 31, 2023	68,993,591

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flow from operating activities
Net loss	$ (49,036)	$ (50,515)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	4,507	11,431
Depreciation	1,544	1,558
Loss on disposal of fixed assets	1,583
Other non-cash items, net	(693)	234
Changes in operating assets and liabilities:
Accounts receivable	4,903	(1,105)
Prepaid expenses and other current assets	1,558	(99)
Right-of-use assets	7,304	2,716
Other non-current assets	(1,500)	(505)
Accounts payable	(557)	(229)
Accrued expenses	1,427	(3,982)
Deferred revenue		(5,516)
Operating lease liabilities	(6,808)	(3,215)
Net cash used in operating activities	(35,768)	(49,227)
Cash flow from investing activities
Purchases of property and equipment	(1,840)	(2,248)
Purchases of marketable securities	(40,798)	(60,381)
Proceeds from maturities of marketable securities	65,905	119,000
Net cash provided by investing activities	23,267	56,371
Cash flow from financing activities
Proceeds from exercise of stock options		218
Net cash provided by financing activities		218
Net (decrease) increase in cash, cash equivalents, and restricted cash	(12,501)	7,362
Cash, cash equivalents, and restricted cash, beginning of period	145,399	207,396
Cash, cash equivalents, and restricted cash, end of period	132,898	214,758
Supplemental disclosure of cash and non-cash activities:
Fixed asset additions included in accounts payable and accrued expenses	370	199
Cash paid in connection with operating lease liabilities	3,897	$ 3,746
Remeasurement of operating lease liabilities and right-of-use assets due to lease modification	$ (3,781)

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2023
Nature of Business
Nature of Business	1. Nature of Business ​ Editas Medicine, Inc. (the “Company”) is a clinical stage genome editing company dedicated to developing potentially transformative genomic medicines to treat a broad range of serious diseases. The Company was incorporated in the state of Delaware in September 2013. Its principal offices are in Cambridge, Massachusetts. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, and raising capital. The Company has primarily financed its operations through various equity financings, payments received under a research collaboration with Juno Therapeutics, Inc., a wholly-owned subsidiary of the Bristol-Myers Squibb Company (“BMS”), and payments received under a strategic alliance and option agreement with Allergan Pharmaceuticals International Limited, which was terminated in August 2020. The Company is subject to risks common to companies in the biotechnology industry, including but not limited to, risks of failure of preclinical studies and clinical trials, the need to obtain marketing approval for any drug product candidate that it may identify and develop, the need to successfully commercialize and gain market acceptance of its product candidates, dependence on key personnel, protection of proprietary technology, compliance with government regulations, development by competitors of technological innovations and ability to transition from pilot-scale manufacturing to large-scale production of products. Liquidity ​ In May 2021, the Company entered into a common stock sales agreement with Cowen and Company, LLC (“Cowen”), under which the Company from time to time can issue and sell shares of its common stock through Cowen in at-the-market offerings for aggregate gross sale proceeds of up to $300.0 million (the “ATM Facility”). As of March 31, 2023, the Company has not sold any shares of its common stock under the ATM Facility. ​ The Company has incurred annual net operating losses in every year since its inception. The Company expects that its existing cash, cash equivalents and marketable securities at March 31, 2023 will enable it to fund its operating expenses and capital expenditure requirements into 2025. The Company had an accumulated deficit of $1.1 billion at March 31, 2023, and will require substantial additional capital to fund its operations. The Company has never generated any product revenue. There can be no assurance that the Company will be able to obtain additional debt or equity financing or generate product revenue or revenues from collaborative partners, on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations, and financial condition.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies ​ Unaudited Interim Financial Information ​ The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Annual Report”). ​ The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Editas Securities Corporation and Editas Medicine, LLC. All intercompany transactions and balances of the subsidiaries have been eliminated in consolidation. In the opinion of management, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair presentation of the results for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The three months ended March 31, 2023 and 2022 are referred to as the first quarter of 2023 and 2022, respectively. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period. ​ Summary of Significant Accounting Policies ​ The Company’s significant accounting policies are described in Note 2, “Summary of Significant Accounting Policies,” to the consolidated financial statements included in the Annual Report. There have been no material changes to the significant accounting policies previously disclosed in the Annual Report. ​ ​

Cash Equivalents and Marketable

Cash Equivalents and Marketable Securities	3 Months Ended
	Mar. 31, 2023
Cash Equivalents and Marketable Securities
Cash Equivalents and Marketable Securities	3. Cash Equivalents and Marketable Securities ​ Cash equivalents and marketable securities consisted of the following at March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ for Credit ​ ​ Unrealized ​ Unrealized ​ Fair March 31, 2023 ​ Cost ​ Losses ​ ​ Gains ​ Losses ​ Value Cash equivalents and marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ $ 176,982 ​ $ — ​ ​ $ 42 ​ $ (1,757) ​ $ 175,267 Money market funds ​ ​ 129,021 ​ ​ — ​ ​ ​ — ​ ​ — ​ ​ 129,021 Corporate notes/bonds ​ ​ 55,876 ​ ​ — ​ ​ ​ 24 ​ ​ (477) ​ ​ 55,423 Commercial paper ​ ​ 29,809 ​ ​ — ​ ​ ​ — ​ ​ (63) ​ ​ 29,746 U.S. Treasuries ​ ​ 12,369 ​ ​ — ​ ​ ​ — ​ ​ (48) ​ ​ 12,321 Total ​ $ 404,057 ​ $ — ​ ​ $ 66 ​ $ (2,345) ​ $ 401,778 ​ Cash equivalents and marketable securities consisted of the following at December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ for Credit ​ ​ Unrealized ​ Unrealized ​ Fair December 31, 2022 ​ Cost ​ Losses ​ ​ Gains ​ Losses ​ Value Cash equivalents and marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ $ 161,902 ​ $ — ​ ​ $ 11 ​ $ (2,556) ​ $ 159,357 Money market funds ​ ​ 141,522 ​ ​ — ​ ​ ​ — ​ ​ — ​ ​ 141,522 Corporate notes/bonds ​ ​ 57,575 ​ ​ — ​ ​ ​ 2 ​ ​ (694) ​ ​ 56,883 U.S. Treasuries ​ ​ 50,019 ​ ​ — ​ ​ ​ 3 ​ ​ (229) ​ ​ 49,793 Commercial paper ​ ​ 29,954 ​ ​ — ​ ​ ​ 3 ​ ​ (141) ​ ​ 29,816 Total ​ $ 440,972 ​ $ — ​ ​ $ 19 ​ $ (3,620) ​ $ 437,371 ​ As of March 31, 2023, the Company did not hold any marketable securities that had been in an unrealized loss position for more than twelve months. Furthermore, the Company has determined that there were no material changes in the credit risk of the debt securities. As of March 31, 2023, the Company holds 56 securities with an aggregate fair value of $83.3 million that had remaining maturities greater than one year. ​ There were no realized gains or losses on available-for-sale securities during the three months ended March 31, 2023 and 2022.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Measurements
Fair Value Measurements	4. Fair Value Measurements ​ Assets measured at fair value on a recurring basis as of March 31, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices Significant ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ March 31, ​ Identical Assets ​ Inputs ​ Inputs Financial Assets ​ 2023 ​ (Level 1) ​ (Level 2) ​ (Level 3) Cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 129,021 ​ $ 129,021 ​ $ — ​ $ — Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ ​ 175,267 ​ ​ — ​ ​ 175,267 ​ ​ — Corporate notes/bonds ​ ​ 55,423 ​ ​ — ​ ​ 55,423 ​ ​ — Commercial paper ​ ​ 29,746 ​ ​ — ​ ​ 29,746 ​ ​ — U.S. Treasuries ​ ​ 12,321 ​ ​ 12,321 ​ ​ — ​ ​ — Restricted cash and other non-current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ ​ 3,877 ​ ​ 3,877 ​ ​ — ​ ​ — Total financial assets ​ $ 405,655 ​ $ 145,219 ​ $ 260,436 ​ $ — ​ Assets measured at fair value on a recurring basis as of December 31, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices Significant ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ December 31, ​ Identical Assets ​ Inputs ​ Inputs Financial Assets ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 141,522 ​ $ 141,522 ​ $ — ​ $ — Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ ​ 159,357 ​ ​ — ​ ​ 159,357 ​ ​ — Corporate bonds ​ ​ 56,883 ​ ​ — ​ ​ 56,883 ​ ​ — U.S. Treasuries ​ ​ 49,793 ​ ​ 49,793 ​ ​ — ​ ​ — Commercial paper ​ ​ 29,816 ​ ​ — ​ ​ 29,816 ​ ​ — Restricted cash and other non-current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ ​ 3,877 ​ ​ 3,877 ​ ​ — ​ ​ — Total financial assets ​ $ 441,248 ​ $ 195,192 ​ $ 246,056 ​ $ — ​

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2023
Accrued Expenses
Accrued Expenses	5. Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ December 31, ​ 2023 2022 External research and development expenses ​ $ 21,761 ​ $ 16,452 Employee related expenses ​ ​ 5,956 ​ ​ 10,140 Intellectual property and patent related fees ​ ​ 2,168 ​ ​ 1,809 Professional service expenses ​ ​ 1,566 ​ ​ 1,260 Other expenses ​ ​ 109 ​ ​ 1,635 Total accrued expenses ​ $ 31,560 ​ $ 31,296 ​ ​ ​ ​ ​ ​ ​ ​

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2023
Property and Equipment, net
Property and Equipment, net	6. Property and Equipment, net ​ Property and equipment, net consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ December 31, ​ 2023 2022 Laboratory equipment ​ $ 23,813 ​ $ 24,407 Leasehold improvements ​ ​ 9,634 ​ ​ 9,761 Computer equipment ​ ​ 875 ​ ​ 875 Construction-in-progress ​ 369 ​ 1,573 Furniture and office equipment ​ ​ 264 ​ ​ 264 Software ​ 215 ​ 215 Total property and equipment ​ 35,170 ​ 37,095 Less: accumulated depreciation ​ (21,959) ​ (21,526) Property and equipment, net ​ $ 13,211 ​ $ 15,569 ​

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	7. Commitments and Contingencies ​ ​ Licensor Expense Reimbursement ​ The Company is obligated to reimburse The Broad Institute, Inc. (“Broad”) and the President and Fellows of Harvard College (“Harvard”) for expenses incurred by each of them associated with the prosecution and maintenance of the patent rights that the Company licenses from them pursuant to the license agreement by and among the Company, Broad and Harvard, including the interference and opposition proceedings involving patents licensed to the Company under the license agreement, and other license agreements between the Company and Broad. As such, the Company anticipates that it has a substantial commitment in connection with these proceedings until such time as these proceedings have been resolved, but the amount of such commitment is not determinable. The Company incurred an aggregate of $3.0 million and $2.1 million in expense during the three months ended March 31, 2023 and 2022, respectively, for such reimbursement.

Collaboration and Profit-Sharin

Collaboration and Profit-Sharing Agreements	3 Months Ended
	Mar. 31, 2023
Collaboration and Profit-Sharing Agreements
Collaboration and Profit-Sharing Agreements	8 Collaboration and Profit-Sharing Agreements ​ The Company has entered into multiple collaborations, out-licenses and strategic alliances with third parties that typically involve payments to or from the Company, including up-front payments, payments for research and development services, option payments, milestone payments and royalty payments to or from the Company. The terms and conditions as well as the accounting analysis for the Company’s significant collaborations, out-licenses and strategic alliances are described in Note 9, “Collaboration and Profit-Sharing Agreements” to the consolidated financial statements included in the Annual Report. There have been no material changes to the terms and conditions, or the accounting conclusions, previously disclosed in the Annual Report. ​ Collaboration Revenue ​ As of March 31, 2023, the Company’s contract liabilities were primarily related to the Company’s collaboration with BMS. The following table presents changes in the Company’s accounts receivable and contract liabilities for the three months ended March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended March 31, 2023 Balance at December 31, 2022 ​ Additions ​ Deductions ​ Balance at March 31, 2023 Accounts receivable $ 5,145 ​ $ 97 ​ $ (5,000) ​ $ 242 Contract liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred revenue $ 68,888 ​ $ — ​ $ — ​ $ 68,888 ​ During the three months ended March 31, 2023, the Company recognized the following collaboration revenue (in thousands): ​ ​ ​ ​ ​ Three Months Ended Revenue recognized in the period from: March 31, 2023 Amounts included in deferred revenue at the beginning of the period $ — Performance obligations satisfied in previous periods $ — ​

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2023
Stock-based Compensation
Stock-based Compensation	9 Stock-based Compensation ​ Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ ​ 2023 ​ 2022 Research and development ​ $ 2,086 ​ $ 3,695 General and administrative ​ 2,421 ​ 7,736 Total stock-based compensation expense ​ $ 4,507 ​ $ 11,431 ​ Restricted Stock Unit Awards ​ The following is a summary of restricted stock unit awards activity for the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ ​ ​ ​ Fair Value ​ ​ Shares ​ Per Share Unvested restricted stock unit awards as of December 31, 2022 1,499,070 ​ $ 18.70 Issued 884,867 ​ $ 8.64 Vested (146,209) ​ $ 19.52 Forfeited ​ (248,527) ​ $ 21.97 Unvested restricted stock unit awards as of March 31, 2023 1,989,201 ​ $ 13.76 ​ ​ As of March 31, 2023, total unrecognized compensation expense related to unvested restricted stock unit awards was $15.4 million, which the Company expects to recognize over a remaining weighted-average period of 2.85 years. ​ Stock Options ​ The following is a summary of stock option activity for the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average Remaining Aggregate Intrinsic ​ ​ Shares ​ Exercise Price ​ Contractual Life (years) ​ Value (in thousands) Outstanding at December 31, 2022 5,276,148 ​ $ 23.99 ​ 8.0 ​ $ 401,529 Granted ​ 1,209,494 ​ $ 8.64 ​ ​ ​ ​ ​ Exercised ​ — ​ $ — ​ ​ ​ ​ ​ Cancelled ​ (326,434) ​ $ 24.56 ​ ​ ​ ​ ​ Outstanding at March 31, 2023 6,159,208 ​ $ 20.95 ​ 7.9 ​ $ 236,504 Exercisable at March 31, 2023 2,168,910 ​ $ 30.18 ​ 6.0 ​ $ 236,504 ​ As of March 31, 2023, total unrecognized compensation expense related to stock options was $32.6 million, which the Company expects to recognize over a remaining weighted-average period of 3.1 years.

Net Loss per Share

Net Loss per Share	3 Months Ended
	Mar. 31, 2023
Net Loss per Share
Net Loss per Share	10. Net Loss per Share ​ Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock and potentially dilutive securities outstanding for the period determined using the treasury stock and if converted methods. Contingently issuable shares are included in the calculation of basic loss per share as of the beginning of the period in which all the necessary conditions have been satisfied. Contingently issuable shares are included in diluted loss per share based on the number of shares, if any, that would be issuable under the terms of the arrangement if the end of the reporting period was the end of the contingency period, if the results are dilutive. ​ For purposes of the diluted net loss per share calculation, stock options are considered to be common stock equivalents, but they were excluded from the Company’s calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive. Therefore, basic and diluted net loss per share applicable to common stockholders were the same for all periods presented. ​ The following common stock equivalents were excluded from the calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 ​ 2022 Unvested restricted stock and restricted stock unit awards 1,989,201 ​ 1,233,218 Outstanding stock options 6,159,208 ​ 3,920,083 Total 8,148,409 ​ 5,153,301 ​

Cash Equivalents and Marketab_2

Cash Equivalents and Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Cash Equivalents and Marketable Securities
Schedule of cash equivalents and marketable securities	Cash equivalents and marketable securities consisted of the following at March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ for Credit ​ ​ Unrealized ​ Unrealized ​ Fair March 31, 2023 ​ Cost ​ Losses ​ ​ Gains ​ Losses ​ Value Cash equivalents and marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ $ 176,982 ​ $ — ​ ​ $ 42 ​ $ (1,757) ​ $ 175,267 Money market funds ​ ​ 129,021 ​ ​ — ​ ​ ​ — ​ ​ — ​ ​ 129,021 Corporate notes/bonds ​ ​ 55,876 ​ ​ — ​ ​ ​ 24 ​ ​ (477) ​ ​ 55,423 Commercial paper ​ ​ 29,809 ​ ​ — ​ ​ ​ — ​ ​ (63) ​ ​ 29,746 U.S. Treasuries ​ ​ 12,369 ​ ​ — ​ ​ ​ — ​ ​ (48) ​ ​ 12,321 Total ​ $ 404,057 ​ $ — ​ ​ $ 66 ​ $ (2,345) ​ $ 401,778 ​ Cash equivalents and marketable securities consisted of the following at December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ for Credit ​ ​ Unrealized ​ Unrealized ​ Fair December 31, 2022 ​ Cost ​ Losses ​ ​ Gains ​ Losses ​ Value Cash equivalents and marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ $ 161,902 ​ $ — ​ ​ $ 11 ​ $ (2,556) ​ $ 159,357 Money market funds ​ ​ 141,522 ​ ​ — ​ ​ ​ — ​ ​ — ​ ​ 141,522 Corporate notes/bonds ​ ​ 57,575 ​ ​ — ​ ​ ​ 2 ​ ​ (694) ​ ​ 56,883 U.S. Treasuries ​ ​ 50,019 ​ ​ — ​ ​ ​ 3 ​ ​ (229) ​ ​ 49,793 Commercial paper ​ ​ 29,954 ​ ​ — ​ ​ ​ 3 ​ ​ (141) ​ ​ 29,816 Total ​ $ 440,972 ​ $ — ​ ​ $ 19 ​ $ (3,620) ​ $ 437,371 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Measurements
Schedule of assets measured at fair value on a recurring basis	Assets measured at fair value on a recurring basis as of March 31, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices Significant ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ March 31, ​ Identical Assets ​ Inputs ​ Inputs Financial Assets ​ 2023 ​ (Level 1) ​ (Level 2) ​ (Level 3) Cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 129,021 ​ $ 129,021 ​ $ — ​ $ — Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ ​ 175,267 ​ ​ — ​ ​ 175,267 ​ ​ — Corporate notes/bonds ​ ​ 55,423 ​ ​ — ​ ​ 55,423 ​ ​ — Commercial paper ​ ​ 29,746 ​ ​ — ​ ​ 29,746 ​ ​ — U.S. Treasuries ​ ​ 12,321 ​ ​ 12,321 ​ ​ — ​ ​ — Restricted cash and other non-current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ ​ 3,877 ​ ​ 3,877 ​ ​ — ​ ​ — Total financial assets ​ $ 405,655 ​ $ 145,219 ​ $ 260,436 ​ $ — ​ Assets measured at fair value on a recurring basis as of December 31, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices Significant ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ December 31, ​ Identical Assets ​ Inputs ​ Inputs Financial Assets ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 141,522 ​ $ 141,522 ​ $ — ​ $ — Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency securities ​ ​ 159,357 ​ ​ — ​ ​ 159,357 ​ ​ — Corporate bonds ​ ​ 56,883 ​ ​ — ​ ​ 56,883 ​ ​ — U.S. Treasuries ​ ​ 49,793 ​ ​ 49,793 ​ ​ — ​ ​ — Commercial paper ​ ​ 29,816 ​ ​ — ​ ​ 29,816 ​ ​ — Restricted cash and other non-current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ ​ 3,877 ​ ​ 3,877 ​ ​ — ​ ​ — Total financial assets ​ $ 441,248 ​ $ 195,192 ​ $ 246,056 ​ $ —

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Accrued Expenses
Schedule of accrued expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ December 31, ​ 2023 2022 External research and development expenses ​ $ 21,761 ​ $ 16,452 Employee related expenses ​ ​ 5,956 ​ ​ 10,140 Intellectual property and patent related fees ​ ​ 2,168 ​ ​ 1,809 Professional service expenses ​ ​ 1,566 ​ ​ 1,260 Other expenses ​ ​ 109 ​ ​ 1,635 Total accrued expenses ​ $ 31,560 ​ $ 31,296 ​ ​ ​ ​ ​ ​ ​

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2023
Property and Equipment, net
Schedule of property and equipment, net	Property and equipment, net consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ December 31, ​ 2023 2022 Laboratory equipment ​ $ 23,813 ​ $ 24,407 Leasehold improvements ​ ​ 9,634 ​ ​ 9,761 Computer equipment ​ ​ 875 ​ ​ 875 Construction-in-progress ​ 369 ​ 1,573 Furniture and office equipment ​ ​ 264 ​ ​ 264 Software ​ 215 ​ 215 Total property and equipment ​ 35,170 ​ 37,095 Less: accumulated depreciation ​ (21,959) ​ (21,526) Property and equipment, net ​ $ 13,211 ​ $ 15,569

Collaboration and Profit-Shar_2

Collaboration and Profit-Sharing Agreements (Tables)	3 Months Ended
	Mar. 31, 2023
Collaboration and Profit-Sharing Agreements
Schedule of accounts receivable and contract liabilities	The following table presents changes in the Company’s accounts receivable and contract liabilities for the three months ended March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended March 31, 2023 Balance at December 31, 2022 ​ Additions ​ Deductions ​ Balance at March 31, 2023 Accounts receivable $ 5,145 ​ $ 97 ​ $ (5,000) ​ $ 242 Contract liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred revenue $ 68,888 ​ $ — ​ $ — ​ $ 68,888 ​
Schedule of change in contract assets and contract liabilities	During the three months ended March 31, 2023, the Company recognized the following collaboration revenue (in thousands): ​ ​ ​ ​ ​ Three Months Ended Revenue recognized in the period from: March 31, 2023 Amounts included in deferred revenue at the beginning of the period $ — Performance obligations satisfied in previous periods $ —

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Stock-based Compensation
Schedule of stock-based compensation expense	Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ ​ 2023 ​ 2022 Research and development ​ $ 2,086 ​ $ 3,695 General and administrative ​ 2,421 ​ 7,736 Total stock-based compensation expense ​ $ 4,507 ​ $ 11,431 ​
Schedule of changes in unvested restricted stock	The following is a summary of restricted stock unit awards activity for the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ ​ ​ ​ Fair Value ​ ​ Shares ​ Per Share Unvested restricted stock unit awards as of December 31, 2022 1,499,070 ​ $ 18.70 Issued 884,867 ​ $ 8.64 Vested (146,209) ​ $ 19.52 Forfeited ​ (248,527) ​ $ 21.97 Unvested restricted stock unit awards as of March 31, 2023 1,989,201 ​ $ 13.76 ​
Schedule of stock option activity	The following is a summary of stock option activity for the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average Remaining Aggregate Intrinsic ​ ​ Shares ​ Exercise Price ​ Contractual Life (years) ​ Value (in thousands) Outstanding at December 31, 2022 5,276,148 ​ $ 23.99 ​ 8.0 ​ $ 401,529 Granted ​ 1,209,494 ​ $ 8.64 ​ ​ ​ ​ ​ Exercised ​ — ​ $ — ​ ​ ​ ​ ​ Cancelled ​ (326,434) ​ $ 24.56 ​ ​ ​ ​ ​ Outstanding at March 31, 2023 6,159,208 ​ $ 20.95 ​ 7.9 ​ $ 236,504 Exercisable at March 31, 2023 2,168,910 ​ $ 30.18 ​ 6.0 ​ $ 236,504 ​

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Net Loss per Share
Schedule of anti-dilutive common stock equivalents	The following common stock equivalents were excluded from the calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2023 ​ 2022 Unvested restricted stock and restricted stock unit awards 1,989,201 ​ 1,233,218 Outstanding stock options 6,159,208 ​ 3,920,083 Total 8,148,409 ​ 5,153,301

Nature of Business (Details)

Nature of Business (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	May 31, 2021
Liquidity
Accumulated deficit	$ 1,127,167	$ 1,078,131
At The Market Offering
Liquidity
Number of common stock issued	0
Sales agreement amount of aggregate sale proceeds of common stock agreed to be issued			$ 300,000

Cash Equivalents and Marketab_3

Cash Equivalents and Marketable Securities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) security	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Cash Equivalents and Marketable Securities
Amortized Cost	$ 404,057		$ 440,972
Gross Unrealized Gains	66		19
Gross Unrealized Losses	(2,345)		(3,620)
Fair Value	$ 401,778		437,371
Number of securities in an unrealized loss position for more than 12 months | security	0
Number of noncurrent securities | security	56
Noncurrent marketable securities	$ 83,339		93,097
Realized gains (losses) on available-for-sale securities	0	$ 0
Government agency securities.
Cash Equivalents and Marketable Securities
Amortized Cost	176,982		161,902
Gross Unrealized Gains	42		11
Gross Unrealized Losses	(1,757)		(2,556)
Fair Value	175,267		159,357
Money market funds
Cash Equivalents and Marketable Securities
Amortized Cost	129,021		141,522
Fair Value	129,021		141,522
Corporate notes/bonds
Cash Equivalents and Marketable Securities
Amortized Cost	55,876		57,575
Gross Unrealized Gains	24		2
Gross Unrealized Losses	(477)		(694)
Fair Value	55,423		56,883
Commercial paper
Cash Equivalents and Marketable Securities
Amortized Cost	29,809		29,954
Gross Unrealized Gains			3
Gross Unrealized Losses	(63)		(141)
Fair Value	29,746		29,816
U.S. Treasuries
Cash Equivalents and Marketable Securities
Amortized Cost	12,369		50,019
Gross Unrealized Gains			3
Gross Unrealized Losses	(48)		(229)
Fair Value	$ 12,321		$ 49,793

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial Assets
Marketable securities	$ 401,778	$ 437,371
Money market funds
Financial Assets
Restricted Cash and Cash Equivalents, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Corporate notes/bonds
Financial Assets
Marketable securities	$ 55,423	$ 56,883
U.S. Treasuries
Financial Assets
Marketable securities	12,321	49,793
Commercial paper
Financial Assets
Marketable securities	$ 29,746	$ 29,816
Level 1 | Money market funds
Financial Assets
Restricted Cash and Cash Equivalents, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Recurring
Financial Assets
Total financial assets	$ 405,655	$ 441,248
Recurring | Money market funds
Financial Assets
Cash and cash equivalents	129,021	141,522
Restricted cash	3,877	3,877
Recurring | Government agency securities
Financial Assets
Marketable securities	175,267	159,357
Recurring | Corporate notes/bonds
Financial Assets
Marketable securities	55,423	56,883
Recurring | U.S. Treasuries
Financial Assets
Marketable securities	12,321	49,793
Recurring | Commercial paper
Financial Assets
Marketable securities	29,746	29,816
Recurring | Level 1
Financial Assets
Total financial assets	145,219	195,192
Recurring | Level 1 | Money market funds
Financial Assets
Cash and cash equivalents	129,021	141,522
Restricted cash	3,877	3,877
Recurring | Level 1 | U.S. Treasuries
Financial Assets
Marketable securities	12,321	49,793
Recurring | Level 2
Financial Assets
Total financial assets	260,436	246,056
Recurring | Level 2 | Government agency securities
Financial Assets
Marketable securities	175,267	159,357
Recurring | Level 2 | Corporate notes/bonds
Financial Assets
Marketable securities	55,423	56,883
Recurring | Level 2 | Commercial paper
Financial Assets
Marketable securities	$ 29,746	$ 29,816

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued Expenses
External research and development expenses	$ 21,761	$ 16,452
Employee related expenses	5,956	10,140
Intellectual property and patent related fees	2,168	1,809
Professional service expenses	1,566	1,260
Other expenses	109	1,635
Total accrued expenses	$ 31,560	$ 31,296

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property and equipment, net
Total property and equipment	$ 35,170	$ 37,095
Less: accumulated depreciation	(21,959)	(21,526)
Property and equipment, net	13,211	15,569
Laboratory equipment
Property and equipment, net
Total property and equipment	23,813	24,407
Leasehold improvements
Property and equipment, net
Total property and equipment	9,634	9,761
Construction-in-progress
Property and equipment, net
Total property and equipment	369	1,573
Computer equipment
Property and equipment, net
Total property and equipment	875	875
Furniture and office equipment
Property and equipment, net
Total property and equipment	264	264
Software
Property and equipment, net
Total property and equipment	$ 215	$ 215

Commitments and Contingencies -

Commitments and Contingencies - Licensor Expense Reimbursements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Licensor Expense Reimbursements
Commitments and contingencies
Expense for prosecution and maintenance of patent rights	$ 3	$ 2.1

Collaboration and Profit-Shar_3

Collaboration and Profit-Sharing Agreements - Revenue Recognition (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Accounts receivable
Accounts receivable, Balance at Beginning of Period	$ 5,145
Accounts Receivable, Additions	97
Accounts Receivable, Deductions	(5,000)
Accounts receivable, Balance at End of Period	242
Contract liabilities:
Deferred Revenue, Balance at Beginning of Period	68,888
Deferred Revenue, Balance at End of Period	$ 68,888

Stock-based Compensation - Expe

Stock-based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock-based compensation disclosures
Compensation expense	$ 4,507	$ 11,431
Research and development
Stock-based compensation disclosures
Compensation expense	2,086	3,695
General and administrative
Stock-based compensation disclosures
Compensation expense	$ 2,421	$ 7,736

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock and Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Changes in unvested restricted stock
Unvested restricted shares, beginning of period (in shares)	1,499,070
Issued (in shares)	884,867
Vested (in shares)	(146,209)
Forfeited (in shares)	(248,527)
Unvested restricted shares, end of period(in shares)	1,989,201	1,499,070
Weighted Average Grant Date Fair Value
Balance, beginning of period	$ 18.70
Issued (in dollars per share)	8.64
Vested (in dollars per share)	19.52
Forfeited (in dollars per share)	21.97
Balance, ending of period	$ 13.76	$ 18.70
Unrecognized stock-based compensation expense	$ 15,400
Period for recognition	2 years 10 months 6 days
Performance based awards | Employees
Changes in unvested restricted stock
Issued (in shares)	253,100
Stock options
Weighted Average Grant Date Fair Value
Unrecognized stock-based compensation expense	$ 32,600
Period for recognition	3 years 1 month 6 days
Changes in unvested stock options
Outstanding, beginning of period (in shares)	5,276,148
Granted (in shares)	1,209,494
Cancelled (in shares)	(326,434)
Outstanding, end of period (in shares)	6,159,208	5,276,148
Exercisable (in shares)	2,168,910
Outstanding, beginning of period (in dollars per share)	$ 23.99
Granted (in dollars per share)	8.64
Cancelled (in dollars per share)	24.56
Outstanding, end of period (in dollars per share)	20.95	$ 23.99
Exercisable (in dollar per share)	$ 30.18
Remaining contractual life	7 years 10 months 24 days	8 years
Exercisable, remaining contractual life	6 years
Aggregate intrinsic value	$ 236,504	$ 401,529
Exercisable, aggregated intrinsic value	$ 236,504

Net Loss per Share - Anti-dilut

Net Loss per Share - Anti-dilutive (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Potentially dilutive securities
Anti-dilutive common stock equivalent shares	8,148,409	5,153,301
Restricted Stock
Potentially dilutive securities
Anti-dilutive common stock equivalent shares	1,989,201	1,233,218
Stock options
Potentially dilutive securities
Anti-dilutive common stock equivalent shares	6,159,208	3,920,083