Oncorus (ONCR) 10-K 9 Mar 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 08, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	ONCORUS, INC.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001671818
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity File Number	001-39575
Entity Address, Address Line One	50 Hampshire Street
Entity Address, Address Line Two	Suite 401
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Tax Identification Number	47-3779757
Entity Address, Postal Zip Code	02139
Entity Incorporation, State or Country Code	DE
City Area Code	857
Local Phone Number	320-6400
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		25,884,023
Entity Public Float			$ 243.1
Security Exchange Name	NASDAQ
Trading Symbol	ONCR
Title of 12(b) Security	Common Stock, $0.0001 par value per share
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE The Registrant intends to file a definitive proxy statement pursuant to Regulation 14A relating to the 2022 Annual Meeting of Stockholders within 120 days of the end of the Registrant’s fiscal year ended December 31, 2021. Portions of such definitive proxy statement are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein.
Auditor Name	Ernst & Young LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 100,752	$ 130,305
Investments	23,173	0
Prepaid expenses and other current assets	5,185	3,086
Total current assets	129,110	133,391
Property and equipment, net	23,233	4,173
Right-of-use asset	45,218	41,372
Restricted cash	3,437	2,877
Other assets	589	450
Total assets	201,587	182,263
Current liabilities:
Accounts payable	13,009	1,245
Accrued expenses	6,281	3,738
Lease liability - current portion	1,684	993
Other current liabilities	0	8
Total current liabilities	20,974	5,984
Lease liability - Long term portion	50,388	41,615
Other long term liabilities	203	0
Total liabilities	71,565	47,599
Stockholders’ equity (deficit):
Preferred stock, $0.0001 par value; authorized — 10,000 shares and no shares at December 31, 2020 and 2019, respectively; issued and outstanding — no shares at December 31, 2020 and 2019	0	0
Common stock, $0.0001 par value; authorized — 100,000 shares and 227,000 shares at December 31, 2020 and 2019, respectively; issued and outstanding — 22,599 and 989 shares at December 31, 2020 and 2019, respectively	3	2
Additional paid-in capital	324,620
Accumulated other comprehensive income (loss)	(14)	0
Accumulated deficit	(194,587)	(129,825)
Total stockholders’ equity (deficit)	130,022	134,664
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	$ 201,587	$ 182,263

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	25,848,000	22,599,000
Common Stock, Shares Outstanding	25,848,000	22,599,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
Research and development	$ 44,682	$ 27,153
General and administrative	20,136	10,000
Total operating expenses	64,818	37,153
Loss from operations	(64,818)	(37,153)
Other income (expense):
Change in fair value of Series B tranche rights	0	(11,256)
Other expense	(9)	(33)
Interest income	65	143
Total other income (expense), net	56	(11,146)
Net loss	(64,762)	(48,299)
Accretion of discount and dividends on redeemable convertible preferred stock	0	(8,527)
Net loss attributable to common stockholders	(64,762)	(56,826)
Comprehensive income (loss):
Net unrealized gain (loss) on investments	(14)
Comprehensive loss	$ (64,776)	$ (48,299)
Net loss per share attributable to common stockholders—basic and diluted	$ (2.56)	$ (9.35)
Weighted-average number of common shares outstanding—basic and diluted	25,320	6,080

Consolidated Statements of Rede

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	ACCUMULATED OTHER COMPRENSIVE LOSS	Accumulated Deficit [Member]	Series A-1 redeemable convertible preferred stock [Member]	Series B redeemable convertible preferred stock [Member]
Beginning Balance at Dec. 31, 2019						$ 63,494	$ 53,138
Balance (in shares) at Dec. 31, 2019						76,499,992,000	62,535,183,000
Balance (in shares) at Dec. 31, 2019		988,700,000
Balance at Dec. 31, 2019	$ (74,297)				$ (74,297)
Issuance of Series B preferred stock							$ 35,824
Issuance of Series B preferred stock (Shares)							41,690,117
Series A-1 and Series B preferred stock dividends and accretion	(8,527)		$ (1,298)		(7,229)
Series A-1 and Series B preferred stock dividends and accretion						$ 4,830	$ 3,696
Settlement of Series B tranche rights							13,132
Conversion of redeemable convertible preferred stock into common stock	174,114	$ 1	174,113			$ (68,324)	$ (105,790)
Conversion of redeemable convertible preferred stock into common stock (in shares)		14,951,554,000				(76,499,992)	(104,225,300)
Issuance of common stock in initial public offering, net of $8,569 in offering costs	89,801	$ 1	89,800
Issuance of common stock in initial public offering, net of $4,017 in offering costs (in shares)		6,557,991,000
Issuance of common stock in follow-on public offering, net of $4,017 in offering costs	89,801	$ 1	89,800
Stock Issued During Period Shares New Issues		6,557,991,000
Stock-based compensation expense	1,738		1,738
Vesting of restricted common stock		24,368,000
Exercise of options to purchase common stock	134		134
Exercise of options to purchase common stock (Shares)		76,435,000
Net loss	(48,299)				(48,299)
Balance (in shares) at Dec. 31, 2020		22,599,048,000
Balance at Dec. 31, 2020	134,664	$ 2	264,487		(129,825)
Series A-1 and Series B preferred stock dividends and accretion	0
Issuance of common stock in initial public offering, net of $8,569 in offering costs	52,983	$ 1	52,982
Issuance of common stock in initial public offering, net of $4,017 in offering costs (in shares)		3,000,000,000
Issuance of common stock in follow-on public offering, net of $4,017 in offering costs	52,983	$ 1	52,982
Stock Issued During Period Shares New Issues		3,000,000,000
Stock-based compensation expense	6,573		6,573
Vesting of restricted common stock		17,236,000
Exercise of options to purchase common stock	$ 578		578
Exercise of options to purchase common stock (Shares)	231,222,000	231,945,000
Other Comprehensive Income (Loss), Net of Tax	$ (14)			$ (14)
Net loss	(64,762)				64,762
Balance (in shares) at Dec. 31, 2021		25,848,229,000
Balance at Dec. 31, 2021	$ 130,022	$ 3	$ 324,620	$ (14)	$ (194,587)

Consolidated Statements of Re_2

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' (Deficit) Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Of Stockholders Equity [Abstract]
Offering costs related to IPO	$ 4,017	$ 8,569

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net loss	$ (64,762)	$ (48,299)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,948	1,373
Stock-based compensation	6,573	1,738
Loss on disposal of fixed assets	0	4
Change in fair value of Series B tranche rights	0	11,256
Amortization of premium/discount on investments	24	0
Non-cash interest income	(30)	0
Changes in:
Prepaid expenses and other current assets	(2,252)	(2,471)
Operating lease right-of-use asset	2,718	487
Tenant improvement allowance reimbursements	1,737	0
Accounts payable	1,529	284
Accrued expenses and other current liabilities	1,526	217
Operating lease liability	1,165	(1,396)
Net cash used in operating activities	(49,824)	(36,807)
Investing activities
Purchase of property and equipment	(9,549)	(1,056)
Purchase of investments	(23,181)	0
Net cash used in investing activities	(32,730)	(1,056)
Financing activities
Proceeds from exercise of options to purchase common stock	578	134
Proceeds from issuance of Series B preferred stock and tranche liability	0	35,824
Proceeds from issuance of common stock, net of issuance costs	52,983	89,801
Net cash provided by financing activities	53,561	125,759
Increase in cash and cash equivalents	(28,993)	87,896
Cash, cash equivalents, and restricted cash at beginning of period	133,182	45,286
Cash, cash equivalents, and restricted cash at end of period	104,189	133,182
Supplemental disclosure of non-cash investing and financing activities:
Purchase of property and equipment in accounts payable and accrued expenses	11,447	19
Assets acquired under operating leases	8,301	39,052
Accretion of discount and dividends on preferred stock	0	8,527
Settlement of Series B tranche rights	$ 0	$ 13,132

Nature of the Business and Liqu

Nature of the Business and Liquidity	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Nature of the Business and Liquidity	1. Nature of the Business and Liquidity Oncorus, Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on developing next-generation viral immunotherapies to transform outcomes for cancer patients. Using its two platforms, the Company is developing a pipeline of intratumorally and intravenously administered product candidates designed to selectively attack and kill tumor cells. The Company’s operations to date have focused on organization and staffing, business planning, raising capital, acquiring and developing the Company’s technology, establishing the Company’s intellectual property portfolio, identifying potential product candidates and undertaking preclinical studies, commencing a clinical trial and manufacturing scale-up activities. The Company does not have any product candidates approved for sale and has not generated any revenue from product sales. The Company’s product candidates are subject to long development cycles and the Company may be unsuccessful in its efforts to develop, obtain regulatory approval for or market its product candidates. On September 25, 2020, the Company effected a 1-for-12.0874 reverse stock split of its issued and outstanding common stock and a proportional adjustment to the existing conversion ratios for the outstanding shares of Series A-1 redeemable convertible preferred stock (“Series A-1”), and the Series B redeemable convertible preferred stock (“Series B”). Accordingly, all share and per share amounts for all periods presented in these consolidated financial statements and notes thereto have been retroactively adjusted, where applicable, to reflect the reverse stock split, including reclassification of par, additional paid-in capital and accumulated deficit amounts as a result of the split adjustment. On October 6, 2020, the Company completed an initial public offering (“IPO”), in which the Company issued and sold 5,800,000 shares of its common stock at a public offering price of $ 15.00 per share. On October 14, 2020, the Company sold an additional 757,991 shares of common stock at a public offering price of $ 15.00 per share pursuant to the underwriters’ partial exercise of their option to purchase additional shares of common stock. The total gross proceeds from the IPO were $ 98.4 million and the Company raised approximately $ 88.3 million in net proceeds after deducting underwriting discounts and commissions and offering expenses payable by the Company. Upon the initial closing of the IPO, all of the then outstanding shares of redeemable convertible preferred stock automatically converted into 14,951,554 shares of common stock at the applicable conversion ratio then in effect. Subsequent to the initial closing of the IPO, there were no shares of preferred stock outstanding. In February 2021, the Company completed a follow-on offering public offering of its common stock in which it sold 3,000,000 shares at an offering price of $ 19.00 per share, resulting in net proceeds of $ 53.0 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company. In November 2021, the Company entered into an open market sale agreement pursuant to which the Company may issue and sell shares of its common stock from time to time for aggregate gross proceeds of up to $50 million. There were no sales related to this agreement in 2021. The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, possible failure of preclinical studies or clinical trials, the need to obtain marketing approval for its product candidates, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, the need to successfully commercialize and gain market acceptance of any of the Company’s products that are approved 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 significant revenue from product sales. The Company evaluated its future cash needs and believes that with its current cash and cash equivalents and investments on hand at December 31, 2021, it has sufficient cash and cash equivalents and investments to sustain operations for at least the next twelve months following the filing of this Annual Report on Form 10-K.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the FASB. COVID-19 Pandemic With the ongoing COVID-19 global pandemic, the Company has implemented business continuity plans designed to address and mitigate the impact of the COVID-19 pandemic on its employees and its business, including its preclinical studies, its ongoing clinical trial, and its regulatory filings. The Company has taken measures to secure its research and development activities, while work in its laboratories and facilities has been re-organized to reduce risks of COVID-19 transmission. Given the global impact and the other risks and uncertainties associated with the pandemic, the Company’s business, financial condition and results of operations could be materially adversely affected. The Company continues to closely monitor the COVID-19 pandemic and evolve its business continuity plans, clinical development plans and response strategy to mitigate any potential impact. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. Actual results could differ from those estimates, and any such differences may be material to the Company’s financial statements. Going Concern At each reporting period, the Company evaluates whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Company is required to make certain additional disclosures if it concludes substantial doubt exists and it is not alleviated by the Company’s plans or when its plans alleviate substantial doubt about the Company’s ability to continue as a going concern. Principles of Consolidation The accompanying consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, Oncorus Securities Corporation. All intercompany transactions have been eliminated in consolidation. The Company has one operating segment. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, the estimated fair value of the Company’s common stock prior to its IPO and share-based awards utilized for stock-based compensation purposes, the Company’s Series B tranche rights (see Note 7), accrued expenses and amounts of expenses during the reported period, and determination of an incremental borrowing rate for any identified leases for which an implicit discount rate is not easily determinable. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions. Concentration of Credit Risk and of Significant Suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company has all of its cash at one financial institution that management believes to be of high credit quality, in amounts that exceed federally insured limits. The Company invests its excess cash, in line with its investment policy, primarily in money market funds and high credit quality debt instruments . The Company is dependent upon a third-party contract manufacturer and third-party contract research organizations for the performance of portions of its testing for pre-clinical and clinical studies. The Company believes that its relationships with these organizations are satisfactory, and that alternative suppliers of these services are available in the event of the loss of one or more of these suppliers. Research and Development Expenses Research and development expenses are expensed as incurred. Research and development expenses consist of costs incurred to discover, research and develop drug candidates, including compensation-related expenses for research and development personnel, including stock-based compensation expense, preclinical and clinical activities, costs of manufacturing, overhead expenses including facilities and laboratory expenses, materials and supplies, amounts paid to consultants and outside service providers, and depreciation and amortization. Upfront and annual license payments related to acquired technologies or technology licenses which have not yet reached technological feasibility and have no alternative future use are also included in research and development expense for the period in which they are incurred. General and Administrative Expenses General and administrative expenses consist primarily of compensation-related expenses, including stock-based compensation expense, for personnel in executive, finance and accounting, business development, operations and administrative functions. General and administrative expenses also include fees for legal, consulting, accounting and audit services as well as insurance, outside service providers, direct and allocated facility- and office-related costs, and depreciation and amortization. Interest Income on Investments Interest income is separately presented on the consolidated statements of operations and comprehensive loss and consists of interest on cash and cash equivalents and investments. Cash and Cash Equivalents The primary objectives for the Company’s investment portfolio are the preservation of capital and maintenance of liquidity. The Company considers highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At December 31, 2021 and 2020, cash and cash equivalents include bank demand deposits and money market funds that invest primarily in U.S. government-backed securities and treasuries. Cash equivalents are stated at cost, which is substantially equivalent to fair value. Restricted cash The Company maintains a balance in a segregated bank account in connection with a letter of credit for the benefit of the landlord in connection with an operating lease. As of December 31, 2021, restricted cash consisted of $ 3.4 million held for the benefit of the landlord. This amount has been classified as part of non-current assets on the Company's consolidated balance sheets. The Company includes its restricted cash balance in the cash, cash equivalents and restricted cash reconciliation of operating, investing and financing activities in the consolidated statements of cash flows. The following table provides a reconciliation of cash, cash equivalents and restricted cash in the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: DECEMBER 31, 2021 2020 (in thousands) Cash and cash equivalents $ 100,752 $ 130,305 Restricted cash 3,437 2,877 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 104,189 $ 133,182 Investments Short-term investments consist of commercial paper, corporate bonds, asset-backed securities, and U.S. Treasury securities with original maturities greater than three months. The Company may sell investments at any time for use in current operations even if the investments have not yet reached maturity. As a result, the Company classifies its investments, including securities with maturities beyond twelve months, as current assets. As of December 31, 2021, all investments are classified as available-for-sale securities, which are recorded at fair value . Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive income or loss in stockholders’ equity until realized. Purchase premiums and discounts are amortized to interest income over the terms of the related securities. Realized gains and losses and declines in fair value that are deemed to be other than temporary are reflected in the statements of operations and comprehensive loss using the specific-identification method. The Company periodically reviews all available-for-sale securities for other than temporary declines in fair value below the cost basis whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company also evaluates whether it has plans or is required to sell short-term investments before recovery of their amortized cost bases. For the year ended December 31, 2021, the Company has not identified any other than temporary declines in fair value of its short-term investments. Property and Equipment, Net Property and equipment are recorded at cost. Expenditures for major renewals or betterments that extend the useful lives of property and equipment are capitalized; expenditures for maintenance and repairs are charged to expense as incurred. Depreciation expense is recognized on a straight-line basis over the estimated useful lives of the related assets. Property and equipment are depreciated as follows: ASSET TYPE ESTIMATED USEFUL LIFE Computer equipment and software 3 - 5 years Furniture and fixtures 5 years Laboratory equipment 5 years Leasehold improvements Shorter of lease term or estimated useful life Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the Company's consolidated statements of operations as a component of other income (expense) . Impairment of Long-Lived Assets Long-lived assets consist of property and equipment. Long-lived assets to be held and used are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the long-lived assets. If an impairment review were to be performed to evaluate a long-lived asset for recoverability, the Company would compare forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized if estimated undiscounted future cash flows expected to result from the use of an asset are less than its carrying amount. The impairment loss would be based on the excess of the carrying value of the impaired asset over its fair value, determined based on discounted cash flows. For the years ended December 31, 2021 and 2020, the Company has not recorded any impairment losses on long-lived assets. Fair Value Measurements Certain assets and liabilities of the Company are carried at fair value under GAAP. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: Level 1 —Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 —Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly, such as quoted market prices, interest rates, and yield curves. Level 3 —Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable. To the extent a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair values requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company believes that the carrying amounts of prepaid expenses, other current assets, accounts payable, and accrued expenses approximate their fair values due to the short-term nature of those instruments. Research Contract Costs and Accruals The Company has entered into various research service arrangements under which vendors perform various services. The Company records accrued expenses for estimated costs incurred under the arrangements. When evaluating the adequacy of the accrued expenses, the Company analyzes the progress of the studies, trials or other services performed, including invoices received and contracted costs. Judgments and estimates are made in determining the accrued expense balances at the end of each reporting period . Operating Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on specific facts and circumstances, the existence of an identified asset(s), if any, and the Company’s control over the use of the identified asset(s), if applicable. The lease liability is measured at the present value of future lease payments, discounted using the discount rate as of the lease commencement date. Future lease payments may include payments that depend on an index or a rate (such as the consumer price index or other market index). The Company initially measures payments based on an index or rate by using the applicable rate at lease commencement and subsequent changes in such rates are recognized as variable lease costs. Variable payments that do not depend on a rate or index are not included in the lease liability and are recognized as they are incurred. The Company’s contracts typically do not have variable payments based on index or rate. The Company’s contracts that include a lease component generally include additional services that are transferred to the lessee (e.g., common-area maintenance services), which are non-lease components. Contracts typically also include other costs and fees that do not provide a separate service to the lessee, such as costs paid by the lessee to reimburse the lessor for administrative costs or payment for the lessor’s costs for property taxes, insurance related to the leased asset, and other lessor costs. The Company elected the practical expedient to account for the lease and its associated non-lease components as a single lease component for its real estate leases, including the office, lab, and its manufacturing space. When readily determinable, the discount rate used to calculate the lease liability is the rate implicit in the lease. As the Company's leases typically do not provide an implicit rate, the Company uses its incremental borrowing rate based on the lease term and economic environment at the lease commencement date. The lease term used to calculate the lease liability includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. With limited exceptions, the nature of the Company's facility leases is such that there are no economic or other conditions that would indicate that it is reasonably certain at lease commencement that the Company will exercise options to extend the term. The Company recognizes a corresponding lease right of use (“ROU”) asset, initially measured as the amount of lease liability, adjusted for any initial lease costs or lease payments made before or at the commencement of the lease, and reduced by any lease incentives. In some instances, as construction related to leasehold improvements is performed over the life of the lease, the right-of-use asset and lease liability will be adjusted on a prospective basis to reflect any payments relating to the lease incentives. The Company’s leases consist of only operating leases. Operating leases are recognized on the balance sheet as ROU lease assets, lease liabilities current and lease liabilities non-current. Fixed rents are included in the calculation of the lease balances while certain variable costs paid for certain operating and pass-through costs are excluded. Lease expense is recognized over the expected lease term on a straight-line basis. For leases with a term of one year or less, or short-term leases, the Company has elected to not recognize the lease liability for these arrangements and the lease payments are recognized in the consolidated statements of operations and comprehensive loss. Patent Costs The Company expenses patent costs as incurred and records such costs within general and administrative expenses. Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. Classification and Measurement of Series A-1 and Series B Redeemable Convertible Preferred Stock Prior to the IPO, the Company classified its Series A-1 and Series B outside of permanent equity because the shares of Series A-1 and Series B contained certain redemption features that resulted in the Series A-1 and Series B being redeemable (i) at the option of the holder or (ii) upon the occurrence of events that were not solely within the control of the Company. As a result of these redemption provisions, the Series A-1 and Series B were recorded outside of permanent equity and were subject to subsequent measurement under the guidance provided under ASC 480-10-S99. While the Series A-1 and Series B were not currently redeemable, the Series A-1 and Series B were probable of becoming redeemable, and the Company elected to recognize changes in the redemption amount over the period from the date of issuance to the earliest possible redemption date. Changes in the redemption amount were recognized as a deemed dividend and presented as a reduction to income attributable to common stockholders. Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the consolidated financial statements or in the Company’s income tax returns. Deferred taxes are determined based on the difference between the consolidated financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes in the Company's consolidated statements of operations and comprehensive loss. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. The potential for recovery of deferred tax assets is evaluated by analyzing carryback capacity in periods with taxable income, reversal of existing taxable temporary differences and estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50 % likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties. The Company recognizes any interest and penalties related to uncertain tax positions in income tax expense. Stock-Based Compensation The Company measures all stock options and other stock-based awards granted based on the fair value of the award on the date of the grant and recognizes stock-based compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company has elected to recognize forfeitures as they occur. The reversal of compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is recognized in the period of the forfeiture. Generally, the Company issues stock options and restricted stock awards with only service-based vesting conditions and records the expense for these awards using the straight-line method over the requisite service period. For performance-based awards that are awarded, the Company applies the graded-vesting method to the awards once achievement of the performance conditions is considered probable. The Company classifies stock-based compensation expense in its consolidated statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model, which requires inputs based on certain subjective assumptions, including the fair value of the Company’s common stock, expected stock price volatility, the expected term of the stock option, the risk-free interest rate for a period that approximates the expected term of the stock option, and the Company’s expected dividend yield. The closing sale price per share of the Company’s common stock as reported on The Nasdaq Global Market on the date of grant is used to determine the fair value, which is then used to establish the exercise price per share of share-based awards to purchase common stock. As there was no public market for its common stock prior to October 2, 2020, which was the first day of trading upon completion of its IPO, the Company estimates its expected share price volatility based on the historical volatility of publicly-traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain vanilla” stock options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. The fair value of each restricted common stock award is estimated on the date of grant based on the fair value of the Company’s common stock on that same date. Net Loss Per Share Net loss per share attributable to common stockholders is calculated using the two-class method, which is an earnings allocation formula that determines net loss per share for the holders of the Company’s common shares and participating securities. Prior to the IPO, the Company’s Series A-1 and Series B contained participating rights in any dividend paid by the Company and were therefore participating securities. Net loss attributable to common stockholders and participating securities is allocated to each share on an as-converted basis as if all of the earnings for the period had been distributed. However, the participating securities did not include a contractual obligation to share in the losses of the Company and were not included in the calculation of net loss per share in the periods that had a net loss. In addition, common stock equivalent shares (whether or not participating) are excluded from the computation of diluted earnings per share in periods in which they have an anti-dilutive effect on net loss per share. Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed using the more dilutive of (a) the two-class method or (b) the if-converted method and treasury stock method, as applicable. In periods in which the Company reports a net loss attributable to common stockholders, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. Diluted net loss per share is equivalent to basic net loss per share for the years presented herein because common stock equivalent shares from the Series A-1, Series B, restricted stock, stock option awards and outstanding warrants to purchase common stock (see Notes 9 and 14) were anti-dilutive. Deferred Offering Costs The Company capitalizes certain legal, professional, accounting and other third-party fees that are directly associated with in-process equity issuances as deferred offering costs until such equity issuances are consummated. After consummation of the equity issuance, these costs are recorded as a reduction in the capitalized amount associated with the equity issuance. Should the equity issuance be delayed or abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the consolidated statement of operations and comprehensive loss. Recently Issued Accounting Pronouncements In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance, which seeks to increase transparency on governmental assistance in entities' financial reporting. This guidance is effective for all business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The Company does not believe that the adoption of this standard will have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . Additionally, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326 , in April 2019 and ASU 2019-05, Financial Instruments — Credit Losses (Topic 326) — Targeted Transition Relief , in May 2019. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. In November 2019, the FASB issued ASU 2019-10, which defers the effective date of ASU 2016-13 for smaller reporting companies to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of ASU No. 2016-13 on the consolidated financial statements. O ther pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not applicable or not significant to our consolidated financial statements.

Cash Equivalents and Investment

Cash Equivalents and Investments	12 Months Ended
	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash Equivalents and Investments	3. Cash Equivalents and Investments The following tables summarize the amortized cost and fair value of our cash equivalents and investments (in thousands): DECEMBER 31, 2021 AMORTIZED COST BASIS GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES ESTIMATED FAIR VALUE Cash Equivalents Money market funds $ 98,900 $ — $ — $ 98,900 Total Cash Equivalents $ 98,900 $ — $ — $ 98,900 Investments Commercial paper $ 11,084 $ — $ — $ 11,084 Asset-backed securities 2,020 — ( 2 ) 2,018 U.S. treasury securities 4,812 — ( 8 ) 4,804 Corporate bonds 5,271 — ( 4 ) 5,267 Total Investments $ 23,187 $ — $ ( 14 ) $ 23,173 DECEMBER 31, 2020 AMORTIZED COST BASIS GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES ESTIMATED FAIR VALUE Cash Equivalents Money market funds $ 126,056 $ — $ — $ 126,056 Total Cash Equivalents $ 126,056 $ — $ — $ 126,056 The Company had no Investments as of December 31, 2020. As of December 31, 2021, the Company held four investments with unrealized losses. All investments in an unrealized loss position were in this position for less than 12 months. The Company evaluated its securities for potential other-than-temporary impairment and considered the decline in market value to be primarily attributable to current economic and market conditions. Additionally, the Company does not intend to sell the securities in an unrealized loss position and does not expect it will be required to sell the securities before recovery of the unamortized cost basis. Given the Company's intent and ability to hold such securities until recovery, and the lack of a significant change in credit risk for these investments, the Company does not consider these investments to be impaired as of December 31, 2021. There were no realized gains or losses recognized on investments for the year ended December 31, 2021. Interest on investments is recognized as interest income in the consolidated statements of operations and comprehensive loss. All investments held as of December 31, 2021, were classified as available-for-sale securities and had contractual maturities of less than two years.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following table presents information about the Company’s financial assets measured at fair value on a recurring basis (in thousands): FAIR VALUE MEASUREMENTS LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Assets: Money market funds $ 98,900 $ — $ — $ 98,900 U.S. treasury securities 4,804 — — 4,804 Commercial paper — 11,084 — 11,084 Asset-backed securities — 2,018 — 2,018 Corporate bonds — 5,267 — 5,267 Total Assets $ 103,704 $ 18,369 $ — $ 122,073 FAIR VALUE MEASUREMENTS LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Assets: Money market funds $ 126,056 $ — $ — $ 126,056 Total Assets $ 126,056 $ — $ — $ 126,056 The Company classifies its money market funds and U.S. treasury securities as Level 1 assets since it measures fair value using quoted prices in active markets for identical assets. The Level 2 assets include commercial paper, asset-backed securities, and corporate bonds and are valued based on quoted prices for similar assets in active markets and inputs other than quoted prices that are derived from observable market data. The Company did not hold any Level 3 assets during the periods presented. The Company evaluates transfers between levels at the end of each reporting period. There were no transfers between Level 1 and Level 2 assets during the periods presented.

Property Plant and Equipment

Property Plant and Equipment	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	5. Property and Equipment, net Property and equipment, net as of December 31, 2021 and 2020 consisted of the following (in thousands): DECEMBER 31, 2021 2020 Laboratory equipment $ 6,084 $ 3,767 Computer equipment and software 478 221 Furniture and fixtures 769 306 Leasehold improvements 9,266 4,098 Fixed assets not yet placed in service 12,790 — Total property and equipment, gross 29,387 8,392 Less accumulated depreciation ( 6,154 ) ( 4,219 ) Total property and equipment, net $ 23,233 $ 4,173 Depreciation expense was $ 1.9 million and $ 1.4 million for the years ended December 31, 2021 and 2020, respectively, which is included within operating expenses in the consolidated statement of operations and comprehensive loss.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Payables And Accruals [Abstract]
Accrued Expenses and Other Long-Term Liabilities	6. Accrued Expenses and Other Long-Term Liabilities At December 31, 2021 and 2020, accrued expenses and other long-term liabilities consisted of the following (in thousands): AS OF DECEMBER 31, 2021 2020 Accrued research and development costs $ 1,474 $ 1,369 Accrued leasehold improvement costs 999 — Accrued compensation 2,697 1,661 Accrued professional fees 846 568 Other accrued expenses 468 140 Total accrued expenses and other long-term liabilities $ 6,484 $ 3,738 As of December 31, 2021, other long-term liabilities of $ 0.2 million represents the value of unmet conditions associated with a governmental grant received in 2021. The Company anticipates meeting these conditions between 2024 and 2026 and, upon satisfaction, will reduce these liabilities with a corresponding reduction to research and development expenses.

Series B Tranche Rights

Series B Tranche Rights	12 Months Ended
	Dec. 31, 2021
Warrants And Rights Note Disclosure [Abstract]
Series B Tranche Rights	7. Series B Tranche Rights Included in the terms of the purchase agreement for the Series B (“Series B Purchase Agreement”) were Series B Tranche Rights granted to the purchasers of the Series B. The Series B Tranche Rights provided the holders with the right to purchase additional shares of Series B, in a second tranche, upon either the achievement by the Company of certain clinical development milestones for the Company’s primary clinical candidate, as set forth in the Series B Purchase Agreement, or upon the election of certain holders of the Series B prior to August 5, 2021. In the second tranche, the Company had the ability to sell up to 41,690,117 shares of Series B at $ 0.8597 per share. The Company reached the clinical development milestones set forth in the Series B Purchase Agreement in September 2020 and the Company sold 41,690,117 shares of Series B at $ 0.8597 per share, resulting in total gross proceeds to the Company of $ 35.8 million. At the time of issuance, the Series B Tranche Rights met the definition of a freestanding financial instrument, as the Series B Tranche Rights were both legally detachable and separately exercisable from the Series B. In addition, the Company determined at the time of issuance that the Series B Tranche Rights met the definition of a liability because the Series B Tranche Rights (i) embodied an obligation to repurchase the Company’s equity shares and (ii) may have required the Company to settle the obligation by transferring assets. As a result, upon issuance, the respective Series B Tranche Rights were initially recorded at fair value and were subsequently re-measured at the end of each reporting period until settlement. Changes in the fair value were recognized as a component of other income (expense) in the consolidated statements of operations and comprehensive loss. At the end of each reporting period prior to settlement in September 2020, the estimated fair value of the Series B Tranche Rights was determined using a probability weighted present value model that considered the probability of triggering the Series B Tranche Rights through achievement of the clinical development milestones specified in the Series B Purchase Agreement. The Company converted the future values to their present values using a discount rate it considered to be appropriate for probability adjusted cash flows. The estimates were based, in part, on subjective assumptions. The Company remeasured the fair value of the tranche rights for a final time at the date of settlement on September 17, 2020. As the clinical development milestones triggering the tranche closing were achieved, the fair value of the tranche rights at settlement was derived based on the implied intrinsic value of the Series B on the day of the second tranche closing event. The fair value of the Series B at settlement was $ 1.18 per share and was based on the probability of the conversion of the Series B upon an IPO and the expected value of the shares, on a converted basis, in an IPO. The increase in the probability of the achievement of the milestone, as well as the increase in the fair value of the Series B, resulted in an increase of $ 11.3 million in the fair value of the Series B Tranche Rights during the year ended December 31, 2020 which was recognized as a loss in the consolidated statement of operations and comprehensive loss. The balance of the Series B Tranche Rights of $ 13.1 million was reclassified at settlement to increase the Series B carrying value on the consolidated balance sheet. A rollforward of the Series B Tranche Rights liability for the year ended December 31, 2020 is as follows (in thousands): SERIES B Balance at December 31, 2019 $ 1,876 Change in fair value 11,256 Settlement of Series B tranche rights liability ( 13,132 ) Balance at December 31, 2020 $ —

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	8. Redeemable Convertible Preferred Stock Upon the closing of the IPO on October 6, 2020, all of the outstanding shares of Series A-1 and Series B automatically converted into an aggregate of 14,951,554 shares of common stock at the applicable conversion ratio then in effect. Subsequent to the closing of the IPO and as of December 31, 2021, there were no shares of preferred stock outstanding. In connection with the closing of the IPO, the Company amended and restated its certificate of incorporation to provide for 10,000,000 shares of undesignated preferred stock with a par value of $ 0.0001 per share as part of its authorized capital. Issuance of Series B Redeemable Convertible Preferred Stock In September 2020, the Company achieved the second tranche milestones which related to the clinical development of its lead product candidate, ONCR-177. Upon achievement of the milestones, the Series B investors became obligated to purchase additional shares of Series B in a second tranche closing and the Company issued an aggregate of 41,690,117 shares of Series B at $ 0.8597 per share, for gross proceeds to the Company of $ 35.8 million. Upon closing of the second tranche, the Company considered whether there was any potential beneficial conversion feature, concluding that there was not, as the effective conversion price of the Series B was in excess of the fair value of the Company’s common stock.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2021
Statement Of Stockholders Equity [Abstract]
Common Stock	9. Common Stock Each share of common stock is entitled to one vote. The holders of shares of common stock are entitled to receive dividends, if and when declared by the Board of Directors. Prior to the IPO, the voting, dividend, and liquidation rights of the holders of common stock were subject to, and qualified by, the rights, powers, and preferences of the holders of Series B and Series A-1. Upon the closing of the IPO, the Company changed its authorized capital stock to include 100,000,000 shares designated as common stock with a par value of $ 0.0001 per share. Restricted Stock The Company issued restricted stock to its founders and certain officers of the Company. In general, the shares of restricted stock vest over a four-year period, with 25 % of the shares vesting after one year, followed by monthly vesting over the remaining three years. A summary of non-vested restricted stock during the year ended December 31, 2021 is as follows: AMOUNT WEIGHTED- Balance at December 31, 2020 17,234 $ 1.57 Repurchases — — Issuances — — Vested ( 17,234 ) 1.57 Balance at December 31, 2021 — Common Stock Warrants The Company has issued common stock warrants that allow for the holders to purchase an aggregate of 71,544 shares of common stock at $ 1.21 per share. As of December 31, 2021, all of the common stock warrants were fully exercisable. The common stock warrants expire in 2031. Reserved Shares The Company has reserved shares of common stock for the conversion or exercise of the following securities: DECEMBER 31, DECEMBER 31, Exercise of common stock warrants 71,544 71,544 Exercise of options to purchase common stock 3,681,793 2,790,746 Vesting of restricted stock — 17,234 Shares available for issuance under equity incentive plans 2,132,067 2,123,440 Total 5,885,404 5,002,964

Equity Incentive Plan

Equity Incentive Plan	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Incentive Plan	10. Equity Incentive Plans The Company adopted the 2016 Equity Incentive Plan (the “2016 Plan”) on March 31, 2016. The Plan, as amended, provided for the granting of stock options, restricted stock awards, restricted stock units, stock appreciation rights and other stock awards to employees, directors and non-employees. All option awards were granted with an exercise price equal to or greater than the market price of the Company's stock at the date of grant. Option awards generally vest over three to four years. Certain option awards provide for accelerated vesting if there is a change in control as defined in the 2016 Plan. The provisions of the 2016 Plan allow for early exercises for options that have not yet vested. Early exercises have historically been for a de minimis number of shares. On September 23, 2020, the Company adopted the 2020 Equity Incentive Plan (the “2020 Plan”), which became effective upon the execution of the underwriting agreement related to the IPO and serves as the successor to the 2016 Plan. The 2020 Plan authorizes the award of stock options, restricted stock awards, stock appreciation rights, restricted stock units, cash awards, performance awards, and stock bonus awards. The number of shares reserved for issuance under the 2020 Plan will increase automatically on January 1 of each fiscal year, starting on January 1, 2021 and ending on and including January 1, 2030, by the number of shares equal to 5 % of the aggregate number of outstanding shares of common stock as of the immediately preceding December 31, or a lesser number of shares as may be determined by the board of directors (or an authorized committee thereof). O n January 1, 2021, the number of shares reserved for issuance under the 2020 Plan automatically increased by 1,130,896 shares of common stock. At December 31, 2021, there were 2,132,067 shares of common stock available for issuance under the 2020 Plan. On January 1, 2022, the plan automatically increased by 1,292,458 shares of common stock. On September 23, 2020, the Company adopted the 2020 Employee Stock Purchase Plan (the “ESPP”), which became effective upon the execution of the underwriting agreement related to the IPO. The Company has initially reserved 280,000 shares of common stock for sale under the ESPP. The aggregate number of shares reserved for sale under the ESPP will increase automatically on January 1 of each fiscal year starting on January 1, 2021 and ending on and including January 1, 2030, by the number of shares equal to the lesser of (a) 1% of the total number of shares of common stock outstanding on the last day of the fiscal year prior to the date of such automatic increase and (b) 560,000 shares, provided that prior to the date of any such increase, the board of directors may determine a less number of shares for such increase. There was no automatic increase in the number of shares of common stock reserved for sale under the ESPP in 2021. In December 2021, the board of directors determined that there would be no automatic increase in the number of shares of common stock reserved for sale under the ESPP on January 1, 2022. The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions for the years ended December 31, 2021 and 2020 as noted in the following table: YEARS ENDED DECEMBER 31, 2021 2020 Expected volatility 81.4 %- 88.3 % 78.7 %- 86.3 % Expected dividends 0.0 % 0.0 % Expected term (in years) 5.3 - 10 6.1 - 10 Risk-free rate 0.5 %- 1.6 % 0.4 %- 1.2 % Total stock-based compensation expense (including both stock option awards and restricted stock) was as follows: YEARS ENDED DECEMBER 31, 2021 2020 (in thousands) General and administrative $ 4,240 $ 964 Research and development 2,333 774 Total stock-based compensation $ 6,573 $ 1,738 Total stock-based compensation expense by award type was as follows: YEARS ENDED DECEMBER 31, 2021 2020 (in thousands) Restricted stock $ 25 $ 33 Stock options 6,548 1,705 Total stock-based compensation $ 6,573 $ 1,738 In December 2020, the Company granted an employee an option to purchase 113,000 shares of the Company’s common stock with an exercise price per share equal to the fair value of the Company’s common stock on the date of grant. This grant is included in the outstanding options in the summary table below. The option grant includes three separate tranches (each tranche representing one-third of the total grant) that will each ves t four years fro m the date of grant. This option grant and its tranches are subject to accelerated vesting in the event that the Company achieves certain defined milestones related to the Company’s manufacturing efforts. As of December 31, 2021, the Company determined that the requisite service period of this award is four years and recognized $ 0.6 million of stock-based compensation expense for the year ended December 31, 2021. Accelerated vesting was not considered to be probable for any tranche of this award at December 31, 2021. A summary of stock option activity for the year ended December 31, 2021 is presented below: SHARES WEIGHTED- WEIGHTED- AGGREGATE Outstanding at December 31, 2020 2,790,746 $ 8.13 Granted 1,258,759 $ 15.41 Exercised ( 231,222 ) $ 2.47 Canceled, expired, or forfeited ( 136,490 ) $ 11.72 Outstanding at December 31, 2021 3,681,793 $ 10.84 8.11 $ 2,875 Vested and expected to vest at December 31, 2021 3,681,793 $ 10.84 8.11 $ 2,875 Exercisable at December 31, 2021 1,407,937 $ 5.71 7.06 $ 2,377 The weighted average grant date fair value of options granted to employees, directors and non-employee consultants during the years ended December 31, 2021 and 2020 was $ 11.05 and $ 12.88 , respectively. The total intrinsic value of stock options exercised was $ 2.4 million and $ 0.9 million for the years ended December 31, 2021 and 2020, respectively. Total unrecognized stock-based compensation expense related to stock options amounted to $ 19.8 million at December 31, 2021 and is expected to be recognized over a weighted-average period of 2.62 years. The total fair value of restricted shares vested during each of the years ended December 31, 2021 and 2020 was less than $ 0.1 million.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Total (benefit from) provision for income taxes for the years ended December 31, 2021 and 2020 consisted of the following (in thousands): DECEMBER 31, 2021 2020 Current income tax expense $ — $ — Deferred income tax benefit 19,943 10,994 Valuation allowance for deferred tax assets ( 19,943 ) ( 10,994 ) Deferred income tax expense, net — — Total (benefit from) provision for income taxes $ — $ — A reconciliation of income tax expense (benefit) at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements is as follows: DECEMBER 31, 2021 2020 Federal income tax benefit at statutory rate 21.0 % 21.0 % State income tax, net of federal benefit 6.1 4.6 Permanent differences ( 0.4 ) ( 5.6 ) Research and development credit benefit 3.8 2.8 Change in valuation allowance ( 30.5 ) ( 22.8 ) Effective income tax rate — % — % The Company had a net loss for 2021 and 2020 and no income tax benefit has been recorded due to the full valuation allowance for deferred tax assets. The components of the Company’s deferred taxes at December 31, 2021 and 2020 are as follows (in thousands): DECEMBER 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards (federal and state) $ 41,610 $ 27,761 Tax credits (federal and state) 6,967 4,507 Accrued expenses and other liabilities 316 — Capitalized research and development expenditures 835 835 Intangible assets 322 — Stock based compensation 1,499 133 Lease liabilities 14,226 11,640 Total deferred tax assets 65,775 44,876 Valuation allowance ( 53,139 ) ( 33,194 ) Net deferred income tax assets 12,636 11,682 Deferred tax liabilities: Fixed assets ( 283 ) ( 379 ) Right-of-use assets ( 12,353 ) ( 11,303 ) Net deferred tax liabilities ( 12,636 ) ( 11,682 ) Net deferred income taxes $ — $ — The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. Management has considered the Company’s history of cumulative net losses incurred since inception and its lack of commercialization of any products or generation of any revenue from product sales since inception and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred income tax assets. Accordingly, a full valuation allowance has been established against the net deferred income tax assets for each period presented. Management evaluates the positive and negative evidence at each reporting period. The valuation allowance was $ 53.1 million as of December 31, 2021 and $ 33.2 million as of December 31, 2020. The increase in the valuation allowance of approximately $ 19.9 million in 2021 was primarily a result of net losses generated with no corresponding financial statement benefit. As of December 31, 2021, the Company had net operating loss carryforwards (“NOLs”) for federal income tax purposes of $ 153.0 million, of which $ 18.1 million will begin to expire in 2035, and approximately $ 134.9 million can be carried forward indefinitely. The Company also has $ 150.1 million of state net operating losses which expire at various dates through 2041. As of December 31, 2021, the Company also had available research and development tax credit carryforwards for federal and state income tax purposes of $ 5.1 million and $2.4 million, respectively, which begin to expire in 2035 and 2030 , respectively. Utilization of the net operating loss carryforwards and research and development tax credit carryforwards may be subject to a substantial annual limitation under Section 382 and Section 383 of the Internal Revenue Code of 1986 due to ownership changes that have occurred previously or that could occur in the future. These ownership changes may limit the amount of carryforwards that can be utilized annually to offset future taxable income. In general, an ownership change, as defined by Section 382, results from transactions increasing the ownership of certain shareholders or public groups in the stock of a corporation by more than 50 % over a three-year period. The Company has not conducted a study to assess whether a change of control has occurred or whether there have been multiple changes of control since inception due to the significant complexity and cost associated with such a study. If the Company has experienced a change of control, as defined by Section 382, at any time since inception, utilization of the NOLs or research and development tax credit carryforwards would be subject to an annual limitation under Section 382, which is determined by first multiplying the value of the Company’s stock at the time of the ownership change by the applicable long-term tax-exempt rate, and then could be subject to additional adjustments, as required. Any limitation may result in expiration of a portion of the NOLs or research and development tax credit carryforwards before utilization. Further, until a study is completed, and any limitation is known, no adjustments have been reflected in the deferred income tax asset for NOL carryforwards or credits. For the year ended December 31, 2021, the Company generated research credits but has not conducted a study to document the qualified activities. This study may result in an adjustment to the Company’s research and development credit carryforwards; however, until a study is completed and any adjustment is known, no amounts have been recognized as an uncertain tax position. A full valuation allowance has been provided against the Company’s research and development credits and, if an adjustment is required, this adjustment would be offset by an adjustment to the deferred income tax asset established for the research and development credit carryforwards and the valuation allowance. The Company had no unrecognized tax benefits or related interest and penalties for the years ended December 31, 2021 and 2020. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no pending income tax examinations. The Company’s tax years are still open under statute from the year of formation to the present. The Company’s policy is to record interest and penalties related to income taxes as part of its income tax provision. The Company established a Massachusetts securities corporation in 2019. The securities corporation is taxed on its investment income at the rate of 1.32 %. The income tax associated with investment income from the securities corporation was not material to the 2021 income tax provision.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	12. Leases The Company has an operating lease in Cambridge, Massachusetts for its corporate headquarters. The lease will expire in January 2024 and includes an optional extension for an additional three-year period. The Company also has an operating lease for approximately 33,518 square feet (the “Pod 4 Portion”), and approximately 54,666 square feet (the “Pod 5 Portion”), of a manufacturing facility located in Andover, Massachusetts that expires in December 2036. The Company has two options to extend the term of the lease for a period of ten years each. As of December 31, 2021, the Company had not exercised its options to extend the lease term for either lease and it does not deem it reasonably certain that these options will be exercised. The Company agreed to provide the landlord with a $ 2.9 million letter of credit as support for its obligations under the Andover facility lease. The lease provides a lease incentive in the form of reimbursable leasehold improvements of approximately $ 13.2 million. Due to the unpredictability of the payout of leasehold improvement reimbursements, the right-of-use asset will be adjusted on a prospective basis to reflect any payments relating to the lease incentive as construction related to these improvements is performed over the life of the lease. For the year ended December 31, 2021, the Company capitalized $17.0 million of leasehold improvement costs, of which $ 1.7 million was reimbursed through the lease incentive. The lease payments include fixed base rent payments and variable rents for certain shared facility operating and other costs. In November 2021, the Company entered into an amendment to its existing lease agreement for manufacturing and office space in Andover, Massachusetts. The amendment increased the existing footprint of the facility by approximately 17,150 square feet ("Pod 3 Portion"). The term of the overall lease remained unchanged and rent payments for the Pod 3 Portion are expected to commence on July 1, 2022. The Company evaluated this amendment and determined that it is a lease modification that resulted in a separate contract that is to be treated as a separate lease from the Pod 4 and Pod 5 Portions. In connection with this amendment, the Company agreed to provide the landlord an increase of $ 0.5 million to the letter of credit as support for its obligations under the lease, bringing the total amount of the letter of credit to $ 3.4 million. The letter of credit is recorded as a non-current asset on the consolidated balance sheet as of December 31, 2021. The amendment further provides a lease incentive in the form of reimbursable leasehold improvements specific to the Pod 3 Portion of approximately $ 1.7 million. The leased premises for the Pod 3 Portion were available as of December 1, 2021, and the Company recognized a right-of-use asset and lease liability of $ 8.3 million on that date. Similar to the Pod 4 and Pod 5 Portions, due to the unpredictability of the payout of leasehold improvement reimbursements, the right-of-use asset will be adjusted on a prospective basis to reflect any payments related to the lease incentive as construction related to the leasehold improvements is performed. During the years ended December 31, 2021 and 2020, the Company recognized total rent expense of $ 5.7 million and $ 1.0 million, respectively, related to office and lab space under the leases. The amo unt of variable rent expense and rent for short-term leases for these periods was $ 2.2 million and $ 0.6 million, respectively. Other supplemental information related to leases was as follows as of December 31, 2021: (in thousands) 2021 2020 Weighted average remaining lease term 13.8 years 14.5 years Weighted average discount rate 8.1 % 8.5 % Cash paid for amounts included in the measurement of lease liabilities $ 1,777 $ 1,924 Maturities of operating lease liabilities were as follows as of December 31, 2021 (in thousands): Year Amount 2022 $ 5,704 2023 6,380 2024 4,995 2025 5,145 2026 5,299 Thereafter 62,572 Total lease payments 90,095 Less imputed interest ( 38,023 ) Total lease liabilities $ 52,072 Current portion $ 1,684 Long-term portion $ 50,388

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies License and Royalty Agreements The Company has entered into license and royalty agreements for intellectual property with certain parties. Such arrangements require ongoing payments, including payments upon the achievement of certain development, regulatory and commercial milestones, receipt of sublicense income, as well as royalties on commercial sales. Payments under these arrangements are expensed as incurred. The Company’s material license and collaboration agreements are summarized below. Ospedale San Raffaele S.r.l. and Fondazione Telethon In December 2015, the Company entered into a license agreement with Ospedale San Raffaele S.r.l. and Fondazione Telethon, as amended, for the use of certain patents and technology. The Company made an initial payment of $ 0.1 million, which amount was recorded as research and development expense. Under the terms of the license, the Company is required to pay an annual maintenance fee, up to $ 3.9 million in milestone payments for the first indication, up to $ 5.7 million in milestone payments for each subsequent indication, and a low single digit tiered royalty on net sales of any covered products. The agreement terminates upon the expiration of the last remaining royalty obligation for a licensed product. University of Pittsburgh In March 2016, the Company entered into a license agreement, as amended, with University of Pittsburgh for the use of certain patents and technology. The Company made an initial payment of $ 0.1 million, which amount was recorded as research and development expense. Under the terms of the license, the Company is required to pay an annual maintenance fee and up to $ 2.6 million in milestone payments through first commercial product sale and a low single digit royalty on net product revenue, subject to annual minimum amounts, through the expiration of the patent claims. Northwestern University In December 2018, the Company entered into a license agreement with Northwestern University for the use of certain patents and technology. The Company made an initial payment of $ 0.1 million, which amount was recorded as research and development expense. Under the terms of the license, the Company is required to pay an annual maintenance fee and up to $ 4.1 million in milestone payments through the first commercial product sale and an annual low single digit royalty on net sales, subject to annual minimum amounts, through the later of ten years from the first commercial sale or the expiration of the patent claims. WuXi Biologics Ireland Limited In July 2019, the Company entered into a license agreement with Wuxi Biologics Ireland Limited for the use of certain patents and technology. Under the terms of the license, the Company agreed to an initial license payment of $ 0.3 million and is required to pay milestone payments for the first product developed, as well as additional products, in addition to royalties on net product revenue. For the first product developed, the Company is required to pay up to $ 8.0 million in certain clinical milestone payments. For the first three products developed, the Company is also required to pay up to $ 27.0 million in commercial milestone payments for each product that achieves specified net sales levels along with product approvals in several countries. The Company also agreed to pay tiered royalties on net sales of licensed products ranging in the low-single digits. The obligation to pay royalties under the license agreement expires on a licensed product-by-licensed product and country-by-country basis upon expiry of the last valid claim of the licensed patents that cover such licensed product in such country. In June 2021, the Company satisfied a $ 0.5 million milestone event related the development of its first product and paid Wuxi Biologics Ireland Limited, which was recorded to research and development expense. Gaeta Therapeutics Ltd. In November 2021, the Company entered into a license agreement with Gaeta Therapeutics Ltd. for the use of certain patent rights in connection with usage of a certain transgene, IL-12, with a systemic checkpoint inhibitor and with respect to the development of products that would otherwise infringe on such rights. The Company made an initial payment of $ 0.2 million, which was recorded as research and development expense in the year ended December 31, 2021. Under the terms of the license, t he Company is obligated to make certain milestone payments including a low six-figure payment related to the achievement of a certain patent milestone in the United States, certain clinical and regulatory milestone payments which amount to $ 7.5 million in the aggregate for a given developed product or indication, and additional annual payments of low single digit millions following regulatory approval of each product. The Company is also obligated to pay tiered royalties on cumulative net sales of all developed products up to $ 2.5 million in the aggregate for cumulative net sales in excess of certain thresholds of net sales reached, with additional payments in the mid single-digit millions thereafter upon the achievement of additional net sales milestones. The Company achieved the first clinical milestone in December 2021 and paid Gaeta Therapeutics Ltd. $ 0.5 million, which was recorded to research and development expense. Related Party License and Royalty Agreements Certain investors are entitled to receive, in the aggregate, a royalty from the Company equal to 1 % of net sales of Company products discovered or developed prior to an IPO by the Company. The royalty obligation expires upon the later of twelve years from the first commercial sale or the expiration of the patent. The Company entered into a patent assignment agreement with an investor under which that investor would receive $ 1.0 million upon regulatory approval of a product in the United States and an annual low single-digit royalty on net product revenue. The Company is not currently developing any product candidates using the patent that was assigned to the Company. In September 2016, the Company entered into a sublicense agreement with an entity affiliated with a stockholder of the Company for the use of certain patents and technology. Under the terms of the license, the Company is required to pay up to $ 7.6 million in milestone payments through first commercial product sale and an annual mid-single digit royalty on net sales through the expiration of the patent claims. This agreement was terminated in May 2020. Litigation 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	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	14. Net Loss Per Share The following securities that could potentially dilute basic net loss per share in the future were not included in the computation of diluted net loss per share for the periods presented, because to do so would have been antidilutive: YEARS ENDED DECEMBER 31, 2021 2020 Outstanding stock options 3,681,793 2,790,746 Restricted stock — 17,234 Common stock warrants 71,544 71,544 Total 3,753,337 2,879,524

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Retirement Plan	15. Retirement Plan The Company has a tax-qualified employee savings and retirement plan under Section 401(k) of the Code, covering all qualified employees. Participants may elect a salary deferral up to the statutorily prescribed annual limit for tax-deferred contributions. The Company paid matching contributions of $ 0.4 million in 2021 and did no t make any matching contributions in 2020.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events The Company has evaluated subsequent events from the balance sheet date through the date on which these financial statements were issued. Subsequent to the issuance of the financial statements, there were no events that occurred that required disclosure, or revision to, the financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the FASB.
COVID-19 Pandemic	COVID-19 Pandemic With the ongoing COVID-19 global pandemic, the Company has implemented business continuity plans designed to address and mitigate the impact of the COVID-19 pandemic on its employees and its business, including its preclinical studies, its ongoing clinical trial, and its regulatory filings. The Company has taken measures to secure its research and development activities, while work in its laboratories and facilities has been re-organized to reduce risks of COVID-19 transmission. Given the global impact and the other risks and uncertainties associated with the pandemic, the Company’s business, financial condition and results of operations could be materially adversely affected. The Company continues to closely monitor the COVID-19 pandemic and evolve its business continuity plans, clinical development plans and response strategy to mitigate any potential impact. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. Actual results could differ from those estimates, and any such differences may be material to the Company’s financial statements.
Going Concern	Going Concern At each reporting period, the Company evaluates whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Company is required to make certain additional disclosures if it concludes substantial doubt exists and it is not alleviated by the Company’s plans or when its plans alleviate substantial doubt about the Company’s ability to continue as a going concern.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, Oncorus Securities Corporation. All intercompany transactions have been eliminated in consolidation. The Company has one operating segment.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, the estimated fair value of the Company’s common stock prior to its IPO and share-based awards utilized for stock-based compensation purposes, the Company’s Series B tranche rights (see Note 7), accrued expenses and amounts of expenses during the reported period, and determination of an incremental borrowing rate for any identified leases for which an implicit discount rate is not easily determinable. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.
Concentration of Credit Risk and of Significant Suppliers	Concentration of Credit Risk and of Significant Suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company has all of its cash at one financial institution that management believes to be of high credit quality, in amounts that exceed federally insured limits. The Company invests its excess cash, in line with its investment policy, primarily in money market funds and high credit quality debt instruments . The Company is dependent upon a third-party contract manufacturer and third-party contract research organizations for the performance of portions of its testing for pre-clinical and clinical studies. The Company believes that its relationships with these organizations are satisfactory, and that alternative suppliers of these services are available in the event of the loss of one or more of these suppliers.
Research and Development Expense	Research and Development Expenses Research and development expenses are expensed as incurred. Research and development expenses consist of costs incurred to discover, research and develop drug candidates, including compensation-related expenses for research and development personnel, including stock-based compensation expense, preclinical and clinical activities, costs of manufacturing, overhead expenses including facilities and laboratory expenses, materials and supplies, amounts paid to consultants and outside service providers, and depreciation and amortization. Upfront and annual license payments related to acquired technologies or technology licenses which have not yet reached technological feasibility and have no alternative future use are also included in research and development expense for the period in which they are incurred.
General and Administrative Expenses	General and Administrative Expenses General and administrative expenses consist primarily of compensation-related expenses, including stock-based compensation expense, for personnel in executive, finance and accounting, business development, operations and administrative functions. General and administrative expenses also include fees for legal, consulting, accounting and audit services as well as insurance, outside service providers, direct and allocated facility- and office-related costs, and depreciation and amortization.
Interest Income on Investments	Interest Income on Investments Interest income is separately presented on the consolidated statements of operations and comprehensive loss and consists of interest on cash and cash equivalents and investments.
Cash and Cash Equivalents	Cash and Cash Equivalents The primary objectives for the Company’s investment portfolio are the preservation of capital and maintenance of liquidity. The Company considers highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At December 31, 2021 and 2020, cash and cash equivalents include bank demand deposits and money market funds that invest primarily in U.S. government-backed securities and treasuries. Cash equivalents are stated at cost, which is substantially equivalent to fair value.
Restricted Cash	Restricted cash The Company maintains a balance in a segregated bank account in connection with a letter of credit for the benefit of the landlord in connection with an operating lease. As of December 31, 2021, restricted cash consisted of $ 3.4 million held for the benefit of the landlord. This amount has been classified as part of non-current assets on the Company's consolidated balance sheets. The Company includes its restricted cash balance in the cash, cash equivalents and restricted cash reconciliation of operating, investing and financing activities in the consolidated statements of cash flows. The following table provides a reconciliation of cash, cash equivalents and restricted cash in the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: DECEMBER 31, 2021 2020 (in thousands) Cash and cash equivalents $ 100,752 $ 130,305 Restricted cash 3,437 2,877 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 104,189 $ 133,182
Investments	Investments Short-term investments consist of commercial paper, corporate bonds, asset-backed securities, and U.S. Treasury securities with original maturities greater than three months. The Company may sell investments at any time for use in current operations even if the investments have not yet reached maturity. As a result, the Company classifies its investments, including securities with maturities beyond twelve months, as current assets. As of December 31, 2021, all investments are classified as available-for-sale securities, which are recorded at fair value . Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive income or loss in stockholders’ equity until realized. Purchase premiums and discounts are amortized to interest income over the terms of the related securities. Realized gains and losses and declines in fair value that are deemed to be other than temporary are reflected in the statements of operations and comprehensive loss using the specific-identification method. The Company periodically reviews all available-for-sale securities for other than temporary declines in fair value below the cost basis whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company also evaluates whether it has plans or is required to sell short-term investments before recovery of their amortized cost bases. For the year ended December 31, 2021, the Company has not identified any other than temporary declines in fair value of its short-term investments.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are recorded at cost. Expenditures for major renewals or betterments that extend the useful lives of property and equipment are capitalized; expenditures for maintenance and repairs are charged to expense as incurred. Depreciation expense is recognized on a straight-line basis over the estimated useful lives of the related assets. Property and equipment are depreciated as follows: ASSET TYPE ESTIMATED USEFUL LIFE Computer equipment and software 3 - 5 years Furniture and fixtures 5 years Laboratory equipment 5 years Leasehold improvements Shorter of lease term or estimated useful life Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the Company's consolidated statements of operations as a component of other income (expense)
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets consist of property and equipment. Long-lived assets to be held and used are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the long-lived assets. If an impairment review were to be performed to evaluate a long-lived asset for recoverability, the Company would compare forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized if estimated undiscounted future cash flows expected to result from the use of an asset are less than its carrying amount. The impairment loss would be based on the excess of the carrying value of the impaired asset over its fair value, determined based on discounted cash flows. For the years ended December 31, 2021 and 2020, the Company has not recorded any impairment losses on long-lived assets.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities of the Company are carried at fair value under GAAP. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: Level 1 —Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 —Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly, such as quoted market prices, interest rates, and yield curves. Level 3 —Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable. To the extent a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair values requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company believes that the carrying amounts of prepaid expenses, other current assets, accounts payable, and accrued expenses approximate their fair values due to the short-term nature of those instruments.
Research Contract Costs and Accruals	Research Contract Costs and Accruals The Company has entered into various research service arrangements under which vendors perform various services. The Company records accrued expenses for estimated costs incurred under the arrangements. When evaluating the adequacy of the accrued expenses, the Company analyzes the progress of the studies, trials or other services performed, including invoices received and contracted costs. Judgments and estimates are made in determining the accrued expense balances at the end of each reporting period
Operating Leases	Operating Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on specific facts and circumstances, the existence of an identified asset(s), if any, and the Company’s control over the use of the identified asset(s), if applicable. The lease liability is measured at the present value of future lease payments, discounted using the discount rate as of the lease commencement date. Future lease payments may include payments that depend on an index or a rate (such as the consumer price index or other market index). The Company initially measures payments based on an index or rate by using the applicable rate at lease commencement and subsequent changes in such rates are recognized as variable lease costs. Variable payments that do not depend on a rate or index are not included in the lease liability and are recognized as they are incurred. The Company’s contracts typically do not have variable payments based on index or rate. The Company’s contracts that include a lease component generally include additional services that are transferred to the lessee (e.g., common-area maintenance services), which are non-lease components. Contracts typically also include other costs and fees that do not provide a separate service to the lessee, such as costs paid by the lessee to reimburse the lessor for administrative costs or payment for the lessor’s costs for property taxes, insurance related to the leased asset, and other lessor costs. The Company elected the practical expedient to account for the lease and its associated non-lease components as a single lease component for its real estate leases, including the office, lab, and its manufacturing space. When readily determinable, the discount rate used to calculate the lease liability is the rate implicit in the lease. As the Company's leases typically do not provide an implicit rate, the Company uses its incremental borrowing rate based on the lease term and economic environment at the lease commencement date. The lease term used to calculate the lease liability includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. With limited exceptions, the nature of the Company's facility leases is such that there are no economic or other conditions that would indicate that it is reasonably certain at lease commencement that the Company will exercise options to extend the term. The Company recognizes a corresponding lease right of use (“ROU”) asset, initially measured as the amount of lease liability, adjusted for any initial lease costs or lease payments made before or at the commencement of the lease, and reduced by any lease incentives. In some instances, as construction related to leasehold improvements is performed over the life of the lease, the right-of-use asset and lease liability will be adjusted on a prospective basis to reflect any payments relating to the lease incentives. The Company’s leases consist of only operating leases. Operating leases are recognized on the balance sheet as ROU lease assets, lease liabilities current and lease liabilities non-current. Fixed rents are included in the calculation of the lease balances while certain variable costs paid for certain operating and pass-through costs are excluded. Lease expense is recognized over the expected lease term on a straight-line basis. For leases with a term of one year or less, or short-term leases, the Company has elected to not recognize the lease liability for these arrangements and the lease payments are recognized in the consolidated statements of operations and comprehensive loss.
Patent Costs	Patent Costs The Company expenses patent costs as incurred and records such costs within general and administrative expenses.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders.
Classification and Measurement of Series A-1 and Series B Redeemable Convertible Preferred Stock	Classification and Measurement of Series A-1 and Series B Redeemable Convertible Preferred Stock Prior to the IPO, the Company classified its Series A-1 and Series B outside of permanent equity because the shares of Series A-1 and Series B contained certain redemption features that resulted in the Series A-1 and Series B being redeemable (i) at the option of the holder or (ii) upon the occurrence of events that were not solely within the control of the Company. As a result of these redemption provisions, the Series A-1 and Series B were recorded outside of permanent equity and were subject to subsequent measurement under the guidance provided under ASC 480-10-S99. While the Series A-1 and Series B were not currently redeemable, the Series A-1 and Series B were probable of becoming redeemable, and the Company elected to recognize changes in the redemption amount over the period from the date of issuance to the earliest possible redemption date. Changes in the redemption amount were recognized as a deemed dividend and presented as a reduction to income attributable to common stockholders.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the consolidated financial statements or in the Company’s income tax returns. Deferred taxes are determined based on the difference between the consolidated financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes in the Company's consolidated statements of operations and comprehensive loss. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. The potential for recovery of deferred tax assets is evaluated by analyzing carryback capacity in periods with taxable income, reversal of existing taxable temporary differences and estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50 % likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties. The Company recognizes any interest and penalties related to uncertain tax positions in income tax expense.
Stock-Based Compensation	Stock-Based Compensation The Company measures all stock options and other stock-based awards granted based on the fair value of the award on the date of the grant and recognizes stock-based compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company has elected to recognize forfeitures as they occur. The reversal of compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is recognized in the period of the forfeiture. Generally, the Company issues stock options and restricted stock awards with only service-based vesting conditions and records the expense for these awards using the straight-line method over the requisite service period. For performance-based awards that are awarded, the Company applies the graded-vesting method to the awards once achievement of the performance conditions is considered probable. The Company classifies stock-based compensation expense in its consolidated statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model, which requires inputs based on certain subjective assumptions, including the fair value of the Company’s common stock, expected stock price volatility, the expected term of the stock option, the risk-free interest rate for a period that approximates the expected term of the stock option, and the Company’s expected dividend yield. The closing sale price per share of the Company’s common stock as reported on The Nasdaq Global Market on the date of grant is used to determine the fair value, which is then used to establish the exercise price per share of share-based awards to purchase common stock. As there was no public market for its common stock prior to October 2, 2020, which was the first day of trading upon completion of its IPO, the Company estimates its expected share price volatility based on the historical volatility of publicly-traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain vanilla” stock options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. The fair value of each restricted common stock award is estimated on the date of grant based on the fair value of the Company’s common stock on that same date.
Net Loss Per Share	Net Loss Per Share Net loss per share attributable to common stockholders is calculated using the two-class method, which is an earnings allocation formula that determines net loss per share for the holders of the Company’s common shares and participating securities. Prior to the IPO, the Company’s Series A-1 and Series B contained participating rights in any dividend paid by the Company and were therefore participating securities. Net loss attributable to common stockholders and participating securities is allocated to each share on an as-converted basis as if all of the earnings for the period had been distributed. However, the participating securities did not include a contractual obligation to share in the losses of the Company and were not included in the calculation of net loss per share in the periods that had a net loss. In addition, common stock equivalent shares (whether or not participating) are excluded from the computation of diluted earnings per share in periods in which they have an anti-dilutive effect on net loss per share. Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed using the more dilutive of (a) the two-class method or (b) the if-converted method and treasury stock method, as applicable. In periods in which the Company reports a net loss attributable to common stockholders, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. Diluted net loss per share is equivalent to basic net loss per share for the years presented herein because common stock equivalent shares from the Series A-1, Series B, restricted stock, stock option awards and outstanding warrants to purchase common stock (see Notes 9 and 14) were anti-dilutive.
Deferred Offering Costs	Deferred Offering Costs The Company capitalizes certain legal, professional, accounting and other third-party fees that are directly associated with in-process equity issuances as deferred offering costs until such equity issuances are consummated. After consummation of the equity issuance, these costs are recorded as a reduction in the capitalized amount associated with the equity issuance. Should the equity issuance be delayed or abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the consolidated statement of operations and comprehensive loss.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance, which seeks to increase transparency on governmental assistance in entities' financial reporting. This guidance is effective for all business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The Company does not believe that the adoption of this standard will have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . Additionally, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326 , in April 2019 and ASU 2019-05, Financial Instruments — Credit Losses (Topic 326) — Targeted Transition Relief , in May 2019. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. In November 2019, the FASB issued ASU 2019-10, which defers the effective date of ASU 2016-13 for smaller reporting companies to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of ASU No. 2016-13 on the consolidated financial statements. O ther pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not applicable or not significant to our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Summary Of Significant Accounting Policies [Abstract]
Summary of Estimated Useful Lives of Property, Plant and Equipment	Property and equipment are depreciated as follows: ASSET TYPE ESTIMATED USEFUL LIFE Computer equipment and software 3 - 5 years Furniture and fixtures 5 years Laboratory equipment 5 years Leasehold improvements Shorter of lease term or estimated useful life
Summary of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash in the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: DECEMBER 31, 2021 2020 (in thousands) Cash and cash equivalents $ 100,752 $ 130,305 Restricted cash 3,437 2,877 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 104,189 $ 133,182

Cash Equivalents and Investme_2

Cash Equivalents and Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Summary of amortized cost and fair value of our cash equivalents and investments	The following tables summarize the amortized cost and fair value of our cash equivalents and investments (in thousands): DECEMBER 31, 2021 AMORTIZED COST BASIS GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES ESTIMATED FAIR VALUE Cash Equivalents Money market funds $ 98,900 $ — $ — $ 98,900 Total Cash Equivalents $ 98,900 $ — $ — $ 98,900 Investments Commercial paper $ 11,084 $ — $ — $ 11,084 Asset-backed securities 2,020 — ( 2 ) 2,018 U.S. treasury securities 4,812 — ( 8 ) 4,804 Corporate bonds 5,271 — ( 4 ) 5,267 Total Investments $ 23,187 $ — $ ( 14 ) $ 23,173 DECEMBER 31, 2020 AMORTIZED COST BASIS GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES ESTIMATED FAIR VALUE Cash Equivalents Money market funds $ 126,056 $ — $ — $ 126,056 Total Cash Equivalents $ 126,056 $ — $ — $ 126,056

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents information about the Company’s financial assets measured at fair value on a recurring basis (in thousands): FAIR VALUE MEASUREMENTS LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Assets: Money market funds $ 98,900 $ — $ — $ 98,900 U.S. treasury securities 4,804 — — 4,804 Commercial paper — 11,084 — 11,084 Asset-backed securities — 2,018 — 2,018 Corporate bonds — 5,267 — 5,267 Total Assets $ 103,704 $ 18,369 $ — $ 122,073 FAIR VALUE MEASUREMENTS LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Assets: Money market funds $ 126,056 $ — $ — $ 126,056 Total Assets $ 126,056 $ — $ — $ 126,056

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Propertyplantandequipmentabstract [Abstract]
Summary of Property and Equipment, Net	Property and equipment, net as of December 31, 2021 and 2020 consisted of the following (in thousands): DECEMBER 31, 2021 2020 Laboratory equipment $ 6,084 $ 3,767 Computer equipment and software 478 221 Furniture and fixtures 769 306 Leasehold improvements 9,266 4,098 Fixed assets not yet placed in service 12,790 — Total property and equipment, gross 29,387 8,392 Less accumulated depreciation ( 6,154 ) ( 4,219 ) Total property and equipment, net $ 23,233 $ 4,173

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Payables And Accruals [Abstract]
Summary of Accrued Expenses	At December 31, 2021 and 2020, accrued expenses and other long-term liabilities consisted of the following (in thousands): AS OF DECEMBER 31, 2021 2020 Accrued research and development costs $ 1,474 $ 1,369 Accrued leasehold improvement costs 999 — Accrued compensation 2,697 1,661 Accrued professional fees 846 568 Other accrued expenses 468 140 Total accrued expenses and other long-term liabilities $ 6,484 $ 3,738

Series B Tranche Rights (Tables

Series B Tranche Rights (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Series B Tranche Rights liability	A rollforward of the Series B Tranche Rights liability for the year ended December 31, 2020 is as follows (in thousands): SERIES B Balance at December 31, 2019 $ 1,876 Change in fair value 11,256 Settlement of Series B tranche rights liability ( 13,132 ) Balance at December 31, 2020 $ —

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Non-vested Restricted Stock Activity	A summary of non-vested restricted stock during the year ended December 31, 2021 is as follows: AMOUNT WEIGHTED- Balance at December 31, 2020 17,234 $ 1.57 Repurchases — — Issuances — — Vested ( 17,234 ) 1.57 Balance at December 31, 2021 —
Summary of Reserved Shares of Common Stock	The Company has reserved shares of common stock for the conversion or exercise of the following securities: DECEMBER 31, DECEMBER 31, Exercise of common stock warrants 71,544 71,544 Exercise of options to purchase common stock 3,681,793 2,790,746 Vesting of restricted stock — 17,234 Shares available for issuance under equity incentive plans 2,132,067 2,123,440 Total 5,885,404 5,002,964

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of fair valuation assumptions of option awards	The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions for the years ended December 31, 2021 and 2020 as noted in the following table: YEARS ENDED DECEMBER 31, 2021 2020 Expected volatility 81.4 %- 88.3 % 78.7 %- 86.3 % Expected dividends 0.0 % 0.0 % Expected term (in years) 5.3 - 10 6.1 - 10 Risk-free rate 0.5 %- 1.6 % 0.4 %- 1.2 %
Summary of Total Stock-based Compensation Including Both Stock Option Awards And Restricted Stock	Total stock-based compensation expense (including both stock option awards and restricted stock) was as follows: YEARS ENDED DECEMBER 31, 2021 2020 (in thousands) General and administrative $ 4,240 $ 964 Research and development 2,333 774 Total stock-based compensation $ 6,573 $ 1,738 YEARS ENDED DECEMBER 31, 2021 2020 (in thousands) Restricted stock $ 25 $ 33 Stock options 6,548 1,705 Total stock-based compensation $ 6,573 $ 1,738
Summary of Option Activity	A summary of stock option activity for the year ended December 31, 2021 is presented below: SHARES WEIGHTED- WEIGHTED- AGGREGATE Outstanding at December 31, 2020 2,790,746 $ 8.13 Granted 1,258,759 $ 15.41 Exercised ( 231,222 ) $ 2.47 Canceled, expired, or forfeited ( 136,490 ) $ 11.72 Outstanding at December 31, 2021 3,681,793 $ 10.84 8.11 $ 2,875 Vested and expected to vest at December 31, 2021 3,681,793 $ 10.84 8.11 $ 2,875 Exercisable at December 31, 2021 1,407,937 $ 5.71 7.06 $ 2,377

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Summary of Total (Benefit From) Provision for Income Taxes	Total (benefit from) provision for income taxes for the years ended December 31, 2021 and 2020 consisted of the following (in thousands): DECEMBER 31, 2021 2020 Current income tax expense $ — $ — Deferred income tax benefit 19,943 10,994 Valuation allowance for deferred tax assets ( 19,943 ) ( 10,994 ) Deferred income tax expense, net — — Total (benefit from) provision for income taxes $ — $ —
Summary of Reconciliation of Income Tax Expense (Benefit) at the Statutory Federal Income Tax Rate	A reconciliation of income tax expense (benefit) at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements is as follows: DECEMBER 31, 2021 2020 Federal income tax benefit at statutory rate 21.0 % 21.0 % State income tax, net of federal benefit 6.1 4.6 Permanent differences ( 0.4 ) ( 5.6 ) Research and development credit benefit 3.8 2.8 Change in valuation allowance ( 30.5 ) ( 22.8 ) Effective income tax rate — % — %
Summary of Deferred Tax Assets and Liabilities	The Company had a net loss for 2021 and 2020 and no income tax benefit has been recorded due to the full valuation allowance for deferred tax assets. The components of the Company’s deferred taxes at December 31, 2021 and 2020 are as follows (in thousands): DECEMBER 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards (federal and state) $ 41,610 $ 27,761 Tax credits (federal and state) 6,967 4,507 Accrued expenses and other liabilities 316 — Capitalized research and development expenditures 835 835 Intangible assets 322 — Stock based compensation 1,499 133 Lease liabilities 14,226 11,640 Total deferred tax assets 65,775 44,876 Valuation allowance ( 53,139 ) ( 33,194 ) Net deferred income tax assets 12,636 11,682 Deferred tax liabilities: Fixed assets ( 283 ) ( 379 ) Right-of-use assets ( 12,353 ) ( 11,303 ) Net deferred tax liabilities ( 12,636 ) ( 11,682 ) Net deferred income taxes $ — $ —

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Summary of Other Supplemental Information Related to Leases	Other supplemental information related to leases was as follows as of December 31, 2021: (in thousands) 2021 2020 Weighted average remaining lease term 13.8 years 14.5 years Weighted average discount rate 8.1 % 8.5 % Cash paid for amounts included in the measurement of lease liabilities $ 1,777 $ 1,924
Summary of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows as of December 31, 2021 (in thousands): Year Amount 2022 $ 5,704 2023 6,380 2024 4,995 2025 5,145 2026 5,299 Thereafter 62,572 Total lease payments 90,095 Less imputed interest ( 38,023 ) Total lease liabilities $ 52,072 Current portion $ 1,684 Long-term portion $ 50,388

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Summary of Antidilutive Securities Excluded From Computation of Earnings Per Share	The following securities that could potentially dilute basic net loss per share in the future were not included in the computation of diluted net loss per share for the periods presented, because to do so would have been antidilutive: YEARS ENDED DECEMBER 31, 2021 2020 Outstanding stock options 3,681,793 2,790,746 Restricted stock — 17,234 Common stock warrants 71,544 71,544 Total 3,753,337 2,879,524

Nature of the Business and Li_2

Nature of the Business and Liquidity - Additional Information (Detail) $ / shares in Units, $ in Thousands	Feb. 17, 2021USD ($)$ / sharesshares	Oct. 14, 2020USD ($)$ / sharesshares	Oct. 06, 2020$ / sharesshares	Sep. 25, 2020	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)shares
Accounting Policies [Line Items]
Reverse stock split description				1-for-12.0874
Stockholders' equity note, stock split, conversion ratio						0.08273078
Stock Issued During Period Shares New Issues	3,000,000
Share issue price | $ / shares	$ 19
Gross proceeds from issuance initial public offering | $		$ 98,400
Proceeds from issuance of initial public offer | $		$ 88,300
Preferred stock, shares outstanding			0		0	0
Proceeds from issuance of common stock, net of issuance costs | $	$ 53,000				$ 52,983	$ 89,801
Common Stock [Member]
Accounting Policies [Line Items]
Stock Issued During Period Shares New Issues					3,000,000,000	6,557,991,000
Convertible preferred stock, shares			14,951,554
IPO [Member]
Accounting Policies [Line Items]
Stock Issued During Period Shares New Issues		757,991	5,800,000
Share issue price | $ / shares		$ 15	$ 15

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	Sep. 25, 2020	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)Segment
Accounting Policies [Line Items]
Reverse stock split description	1-for-12.0874
Stockholders' equity note, stock split, conversion ratio			0.08273078
Number of operating segments | Segment			1
Restricted cash		$ 3,437	$ 2,877
Income tax examination, likelihood of unfavorable settlement			greater than 50
Share based compensation expenses		6,573	$ 1,738
Operating lease liabilities		52,072
Short-term lease liabilities		1,684	993
Long-term lease liabilities		50,388	41,615
Right-of-use asset		$ 45,218	$ 41,372

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 100,752	$ 130,305
Restricted cash	3,437	2,877
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 104,189	$ 133,182	$ 45,286

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of Property, Plant and Equipment (Detail)	12 Months Ended
	Dec. 31, 2021
Computer Equipment and Software [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Computer Equipment and Software [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Laboratory Equipment [Member]
Property Plant And Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Leaseholds and Leasehold Improvements [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Property and equipment estimated useful lives, term	Shorter of lease term or estimated useful life

Cash Equivalents and Investme_3

Cash Equivalents and Investments - Summary of amortized cost and fair value of our cash equivalents and investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 23,187
Gross Unrealized Gains	0
Gross Unrealized Losses	14
Estimated Fair Value	23,173
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	98,900	$ 126,056
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	98,900	126,056
Commercial Paper [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	11,084
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Estimated Fair Value	11,084
Asset-backed Securities [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	2,020
Gross Unrealized Gains	0
Gross Unrealized Losses	2
Estimated Fair Value	2,018
US Treasury Securities [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	4,812
Gross Unrealized Gains	0
Gross Unrealized Losses	8
Estimated Fair Value	4,804
Corporate bonds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	5,271
Gross Unrealized Gains	0
Gross Unrealized Losses	4
Estimated Fair Value	5,267
Cash and Cash Equivalents [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	98,900	126,056
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 98,900	$ 126,056

Cash Equivalents and Investme_4

Cash Equivalents and Investments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Realized gains or losses recognized	$ 0
Investments		$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets and Liabilities Measured at Fair Value On a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	$ 122,073	$ 126,056
Series B tranche rights [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities			$ 1,876
Money market funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	98,900	126,056
US Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	4,804
Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	11,084
Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	2,018
Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	5,267
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	103,704	126,056
Level 1 [Member] | Money market funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	98,900	$ 126,056
Level 1 [Member] | US Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	4,804
Level 1 [Member] | Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	0
Level 1 [Member] | Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	0
Level 1 [Member] | Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	0
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	18,369
Level 2 [Member] | Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	11,084
Level 2 [Member] | Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	2,018
Level 2 [Member] | Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	$ 5,267

Property Plant And Equipment -

Property Plant And Equipment - Property and equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 29,387	$ 8,392
Less accumulated depreciation	(6,154)	(4,219)
Total property and equipment, net	23,233	4,173
Laboratory Equipment [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	6,084	3,767
Computer Equipment and Software [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	478	221
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	769	306
Leaseholds and Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	9,266	4,098
Fixed assets not yet placed in service [Member]
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 12,790	$ 0

Property Plant And Equipment _2

Property Plant And Equipment - Additional Details (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment Additional Details [Abstract]
Depreciation and amortization	$ 1,948	$ 1,373

Accrued Expenses and Other Long

Accrued Expenses and Other Long-Term Liabilities - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued research and development costs	$ 1,474	$ 1,369
Accrued leasehold improvement costs	999
Accrued compensation	2,697	1,661
Accrued professional fees	846	568
Other accrued expenses	468	140
Total accrued expenses and other long-term liabilities	$ 6,484	$ 3,738

Accrued Expenses and Other Lo_2

Accrued Expenses and Other Long-Term Liabilities - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Other long term liabilities	$ 203	$ 0

Series B Tranche Rights - Addit

Series B Tranche Rights - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Sep. 23, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Proceeds from issuance of Series B preferred stock and tranche liability		$ 0	$ 35,824
Fair value adjustments of rights liability		$ 0	$ 11,256
Series B Tranche Rights [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrant liability fair value per share			$ 1.18
Fair value adjustments of rights liability			$ 11,300
Settlement of Series B tranche rights liability			$ 13,100
Series B redeemable convertible preferred stock [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Temporary Equity, Shares Authorized	41,690,117
Issuance of Series B preferred stock (Shares)			41,690,117
Share price				$ 0.8597
Settlement of Series B tranche rights liability			$ 13,132
Series B redeemable convertible preferred stock [Member] | Tranche Two [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance of Series B preferred stock (Shares)	41,690,117		41,690,117
Share price	$ 0.8597		$ 0.8597
Proceeds from issuance of Series B preferred stock and tranche liability	$ 35,800		$ 35,800

Series B Tranche Rights - Summa

Series B Tranche Rights - Summary of Series B Tranche Rights Liability (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance of Series B tranche rights liability	$ 0	$ 35,824
Series B Tranche Rights [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning Balance		1,876
Change in fair value		11,256
Settlement of Series B tranche rights liability		$ (13,132)

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock - Additional information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Oct. 14, 2020	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 06, 2020	Sep. 23, 2020	Dec. 31, 2019
Redeemable Noncontrolling Interest [Line Items]
Preferred Stock, Shares Outstanding			0	0	0
Preferred Stock, Shares Authorized			10,000,000	10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share			$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Proceeds from issuance of Series B preferred stock and tranche liability			$ 0	$ 35,824
Gross proceeds from issuance initial public offering	$ 98,400
Common Stock [Member]
Redeemable Noncontrolling Interest [Line Items]
Convertible preferred stock, shares					14,951,554
Series B redeemable convertible preferred stock [Member]
Redeemable Noncontrolling Interest [Line Items]
Temporary Equity, Shares Authorized		41,690,117
Temporary Equity, Shares Outstanding							62,535,183,000
Issuance of Series B preferred stock (Shares)				41,690,117
Share price						$ 0.8597
Series B redeemable convertible preferred stock [Member] | Tranche Two [Member]
Redeemable Noncontrolling Interest [Line Items]
Issuance of Series B preferred stock (Shares)		41,690,117		41,690,117
Share price		$ 0.8597		$ 0.8597
Proceeds from issuance of Series B preferred stock and tranche liability		$ 35,800		$ 35,800

Common Stock - Additional Infor

Common Stock - Additional Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Common stock, voting rights	Each share of common stock is entitled to one vote.
Common Stock Shares Authorized	100,000,000	100,000,000
Common Stock Par Or Stated Value Per Share	$ 0.0001	$ 0.0001
Warrants or rights, number of shares called	71,544	71,544
Common Stock Warrants [Member]
Warrants or rights, number of shares called	71,544
Warrants or rights, exercise price	$ 1.21
Restricted Stock [Member] | Founders [Member]
Share-based payment award, award vesting percentage	25.00%
Share based payment award, award vesting period	4 years

Common Stock - Summary of Non-V

Common Stock - Summary of Non-Vested Restricted Stock Activity (Detail)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested	(100,000)
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance at December 31, 2019	17,234
Vested	(17,234)
Balance at December 31, 2020	0
Balance at December 31, 2019 | $ / shares	$ 1.57
Vested | $ / shares	$ 1.57

Common Stock - Summary of Reser

Common Stock - Summary of Reserved Shares of Common Stock (Detail) - shares	Dec. 31, 2021	Dec. 31, 2020
Exercise of common stock warrants	71,544	71,544
Exercise of options to purchase common stock	3,681,793,000	2,790,746,000
Shares available for issuance under equity incentive plans	2,132,067	2,123,440
Total	5,885,404	5,002,964
Exercise of options to purchase common stock [Member]
Exercise of options to purchase common stock	3,681,793	2,790,746
Restricted Stock [Member]
Vesting of restricted stock	0	17,234

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2021	Sep. 23, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total			5,002,964	5,885,404	5,002,964
Shares available for issuance under the 2016 and 2020 Plans			2,123,440	2,132,067	2,123,440
Share based payment awards options granted				1,258,759,000
Share-based payment arrangement, expense				$ 6,573	$ 1,738
Unrecognized compensation expense related to stock options weighted average period				2 years 7 months 13 days
Fair value of restricted shares vested				100,000
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment arrangement, expense				$ 25	$ 33
Fair value of restricted shares vested				17,234
2020 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for issuance under the 2016 and 2020 Plans				2,132,067,000
Share based payments shares increase decrease	1,130,896,000
2020 Plan [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
share based compensation arrangement based pay increase/decrease						1,292,458,000
2020 Plan [Member] | Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based payment award description				The number of shares reserved for issuance under the 2020 Plan will increase automatically on January 1 of each fiscal year, starting on January 1, 2021 and ending on and including January 1, 2030, by the number of shares equal to 5% of the aggregate number of outstanding shares of common stock as of the immediately preceding December 31, or a lesser number of shares as may be determined by the board of directors (or an authorized committee thereof).
Share based payments shares percent increase decrease				5.00%
Employee stock purchase plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total		280,000
Share based payment award description					The aggregate number of shares reserved for sale under the ESPP will increase automatically on January 1 of each fiscal year starting on January 1, 2021 and ending on and including January 1, 2030, by the number of shares equal to the lesser of (a) 1% of the total number of shares of common stock outstanding on the last day of the fiscal year prior to the date of such automatic increase and (b) 560,000 shares, provided that prior to the date of any such increase, the board of directors may determine a less number of shares for such increase. There was no automatic increase in the number of shares of common stock reserved for sale under the ESPP in 2021.
Share based payments shares increase decrease	0	560,000
2016 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value of stock options granted				$ 11.05	$ 12.88
Intrinsic value of options exercised				$ 2,400	$ 900
Unrecognized compensation expense related to stock options				$ 19,800
2016 Plan [Member] | Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				4 years
Share based payment awards options granted			113,000,000
Share based payment award, requisite service period				4 years
Share-based payment arrangement, expense				$ 600

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary of Fair Valuation Assumptions of Option Awards (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	81.40%	78.70%
Expected term (in years)	5 years 3 months 18 days
Risk-free rate	0.50%	0.40%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	88.30%	86.30%
Expected term (in years)	10 years
Risk-free rate	1.60%	1.20%
Option Pricing Model [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected dividends	0.00%	0.00%
Option Pricing Model [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		6 years 1 month 6 days
Option Pricing Model [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		10 years

Equity Incentive Plan - Summa_2

Equity Incentive Plan - Summary of Total Stock-based Compensation Including Both Stock Option Awards And Restricted Stock (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expenses	$ 6,573	$ 1,738
Restricted Stock [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expenses	25	33
Exercise of options to purchase common stock [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expenses	6,548	1,705
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expenses	4,240	964
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expenses	$ 2,333	$ 774

Equity Incentive Plan - Summa_3

Equity Incentive Plan - Summary of Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares, Outstanding | shares	2,790,746
Shares, Granted | shares	1,258,759
Shares, Exercised | shares	(231,222)
Shares, Canceled, expired or forfeited | shares	(136,490)
Shares, Outstanding | shares	3,681,793
Shares, Vested and expected to vest | shares	3,681,793
Shares, Exercisable | shares	1,407,937
Weighted average exercise price, Outstanding | $ / shares	$ 8.13
Weighted average exercise price, Granted | $ / shares	15.41
Weighted average exercise price, Exercised | $ / shares	2.47
Weighted average exercise price, Canceled, expired or forfeited | $ / shares	11.72
Weighted average exercise price, Outstanding | $ / shares	10.84
Weighted average exercise price, Vested and expected to vest | $ / shares	10.84
Weighted average exercise price, Exercisable | $ / shares	$ 5.71
Weighted- Average remaining contractual term (years), Outstanding	8 years 1 month 9 days
Weighted- Average remaining contractual term (years), Vested and expected to vest	8 years 1 month 9 days
Weighted- Average remaining contractual term (years), Exercisable	7 years 21 days
Aggregate intrinsic value, Outstanding | $	$ 2,875
Aggregate intrinsic value, Vested and expected to vest | $	2,875
Aggregate intrinsic value, Exercisable | $	$ 2,377

Income Taxes - Summary of Total

Income Taxes - Summary of Total (Benefit From) Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current income tax expense	$ 0	$ 0
Deferred income tax benefit	19,943,000	10,994,000
Valuation allowance for deferred tax assets	(19,943,000)	(10,994,000)
Deferred income tax expense, net	0	0
Total (benefit from) provision for income taxes	$ 0	$ 0

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Income Tax Expense (Benefit) at Statutory Federal Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract]
Federal income tax benefit at statutory rate	21.00%	21.00%
State income tax, net of federal benefit	6.10%	4.60%
Permanent differences	(0.40%)	(5.60%)
Research and development credit benefit	3.80%	2.80%
Change in valuation allowance	(30.50%)	(22.80%)
Effective income tax rate	0.00%	0.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	Mar. 27, 2020	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax benefit		$ 0	$ 0
Valuation allowance		53,139,000	33,194,000
Increase in valuation allowance		19,943,000	10,994,000
Net operating loss carry forward for federal income tax purpose		153,000,000
Net opertaing loss carryforward for state income tax purpose		150,100,000
Capitalized research and development expenditures		$ 835,000	835,000
Minimum percentage of increase in ownership of stockholders for ownership change		50.00%
Period over which a minimum 50 percent of increase in ownership is required for ownership change		3 years
Unrecognized tax benefits, interest and penalties		$ 0	$ 0
Tax credit, investment, percent	1.32%
Net operating loss carryback period, CARES Act	5 years
Alternative minimum tax credit relaxation of adjusted taxable income percentage	30.00%
Alternative minimum tax credit relaxation of adjusted taxable income percentage, CARES Act	50.00%
Qualified bonus improvement property tax useful life, CARES Act	15 years
Qualified bonus improvement property bonus depreciation eligibility, CARES Act	100.00%
Income tax expense (benefit), CARES Act	$ 0
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward subject to expiration		$ 18,100,000
Operating loss carry forwards expiration year		2035
Net opertaing loss carry forward not subject to expiration		$ 134,900,000
Domestic Tax Authority [Member] | 2035 [Member]
Operating Loss Carryforwards [Line Items]
Capitalized research and development expenditures		$ 5,100,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards expiration year		2030

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards (federal and state)	$ 41,610	$ 27,761
Tax credits (federal and state)	6,967	4,507
Accrued expenses and other liabilities	316
Capitalized research and development expenditures	835	835
Intangible assets	322
Stock based compensation	1,499	133
Lease liabilities	14,226	11,640
Total deferred tax assets	65,775	44,876
Valuation allowance	(53,139)	(33,194)
Net deferred income tax assets	12,636	11,682
Deferred tax liabilities:
Fixed assets	(283)	(379)
Right-of-use assets	12,353	(11,303)
Net deferred tax liabilities	(12,636)	(11,682)
Net deferred income taxes	$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021USD ($)ft²	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Nov. 30, 2021USD ($)ft²
Lessee Lease Description [Line Items]
Leasehold Improvement Costs reimbursed	$ 1,700,000
Letter of Credit	3,400,000
Operating lease liabilities	52,072,000
Pledged letter of credit	2,900,000
Lease incentive related to leasehold improvements	13,200,000
Letter of Credit [Member]
Lessee Lease Description [Line Items]
Pledged letter of credit				$ 500,000
Office Space [Member]
Lessee Lease Description [Line Items]
Rent expense	5,700
Lab Space [Member]
Lessee Lease Description [Line Items]
Rent expense		$ 1,000,000
Short Term Lease Expense [Member]
Lessee Lease Description [Line Items]
Rent expense	$ 2,200		$ 600,000
PO3 [Member]
Lessee Lease Description [Line Items]
Lease space | ft²				17,150
POD 4 [Member]
Lessee Lease Description [Line Items]
Lease space | ft²	33,518
POD 5 [Member]
Lessee Lease Description [Line Items]
Lease space | ft²	54,666
CambridgeMassachusetts [Member]
Lessee Lease Description [Line Items]
Lessee, operating lease, option to extend	The lease will expire in January 2024 and includes an optional extension for an additional three-year period.
Andover, Massachusetts [Member
Lessee Lease Description [Line Items]
Lessee, operating lease, option to extend	The Company has two options to extend the term of the lease for a period of ten years each.
Andover, Massachusetts [Member | PO3 [Member]
Lessee Lease Description [Line Items]
Operating lease liabilities	$ 8,300,000
Lease incentive related to leasehold improvements	$ 1,700,000

Leases - Summary of Other Suppl

Leases - Summary of Other Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted average remaining lease term	13 years 9 months 18 days	14 years 6 months
Weighted average discount rate	8.10%	8.50%
Cash paid for amounts included in the measurement of lease liabilities	$ 1,777	$ 1,924

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Liabilities Payments Due [Abstract]
2022	$ 5,704
2023	6,380
2024	4,995
2025	5,145
2026	5,299
Thereafter	62,572
Total lease payments	90,095
Less imputed interest	(38,023)
Total lease liabilities	52,072
Lease liability - current portion	1,684	$ 993
Lease liability - Long term portion	$ 50,388	$ 41,615

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Nov. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Jul. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2021	Dec. 31, 2020
Research and development								$ 44,682,000	$ 27,153,000
Conversion of Series A-1 [Member]
Percentage of net sales of company products discovered or developed prior to an IPO			1.00%
Approval Of Product [Member] | Conversion of Series A-1 [Member]
Potential future milestone payments			$ 1,000,000
Ospedale San Raffaele Srl and Fondazione Telethon [Member]
Potential future milestone payments							$ 5,700,000
Ospedale San Raffaele Srl and Fondazione Telethon [Member] | Annual Membership Fees [Member]
Potential future milestone payments							3,900,000
University of Pittsburgh [Member]
Potential future milestone payments						$ 2,600,000
Northwestern University [Member]
Potential future milestone payments					$ 4,100,000
WuXi Biologics Ireland Limited [Member]
Initial payment made				$ 300,000
WuXi Biologics Ireland Limited [Member] | Clinical milestone payments [Member]
Potential future milestone payments				8,000,000
WuXi Biologics Ireland Limited [Member] | Commercial milestone payments [Member]
Potential future milestone payments				$ 27,000,000
Gaeta Therapeutics Ltd [Member]
payment for future royalties	$ 2,500,000
Gaeta Therapeutics Ltd [Member] | Clinical milestone payments [Member]
Milestone Payments	$ 7,500
Affiliated Entity [Member]
Potential future milestone payments			$ 7,600,000
Research and Development Expense [Member] | Ospedale San Raffaele Srl and Fondazione Telethon [Member]
Initial payment made							$ 100,000
Research and Development Expense [Member] | University of Pittsburgh [Member]
Initial payment made						$ 100,000
Research and Development Expense [Member] | Northwestern University [Member]
Initial payment made					$ 100,000
Research and Development Expense [Member] | WuXi Biologics Ireland Limited [Member]
Milestone Payments		$ 500,000
Research and Development Expense [Member] | Gaeta Therapeutics Ltd [Member]
Initial payment made								200,000
Research and Development Expense [Member] | Gaeta Therapeutics Ltd [Member] | Clinical milestone payments [Member]
Milestone Payments								$ 500,000

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Antidilutive Securities Excluded From Computation of Earnings Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities dilute basic net loss per share	3,753,337	2,879,524
Outstanding Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities dilute basic net loss per share	3,681,793	2,790,746
Restricted Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities dilute basic net loss per share		17,234
Common stock warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities dilute basic net loss per share	71,544	71,544

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Company's matching contributions	$ 400	$ 0