PMV Pharmaceuticals (PMVP) 10-K 1 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 25, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Entity File Number	001-39539
Entity Registrant Name	PMV PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-3218129
Entity Address, Address Line One	8 Clarke Drive
Entity Address, Address Line Two	Suite 3
Entity Address, City or Town	Cranbury
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08512
City Area Code	609
Local Phone Number	642-6670
Title of 12(b) Security	Common stock, par value $0.00001
Trading Symbol	PMVP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,450,699
Entity Public Float			$ 1,229,389,330
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001699382
Amendment Flag	false
ICFR Auditor Attestation Flag	true
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Philadelphia, Pennsylvania
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s definitive Proxy Statement relating to the 2022 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2021.

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 172,467	$ 361,422
Restricted cash	822
Marketable securities, current	124,696
Prepaid expenses and other current assets	3,301	3,339
Total current assets	301,286	364,761
Property and equipment, net	3,090	569
Marketable securities, noncurrent	16,911
Right-of-use assets, operating leases	10,060
Other assets	221	201
Total assets	331,568	365,531
Current liabilities:
Accounts payable	3,189	1,607
Accrued expenses	8,627	4,803
Operating lease liability, current	403
Total current liabilities	12,219	6,410
Operating lease liability, noncurrent	10,790
Total liabilities	23,009	6,410
Stockholders' equity:
Preferred stock, $0.00001 par value, 5,000,000 shares authorized as of December 31, 2021 and December 31, 2020. No shares issued or outstanding as of December 31, 2021 and December 31, 2020.
Common stock, $0.00001 par value, 1,000,000,000 shares authorized; 45,433,684 and 44,777,818 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively.
Additional paid-in capital	476,363	469,001
Accumulated deficit	(167,726)	(109,880)
Accumulated other comprehensive loss	(78)
Total stockholders' equity	308,559	359,121
Total liabilities and stockholders’ equity	$ 331,568	$ 365,531

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	45,433,684	44,777,818
Common stock, shares outstanding	45,433,684	44,777,818

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Expenses:
Research and development	$ 36,493	$ 23,933	$ 20,759
General and administrative	21,800	11,009	5,878
Total operating expenses	58,293	34,942	26,637
Loss from operations	(58,293)	(34,942)	(26,637)
Other income (expense):
Interest income, net	449	651	1,301
Other income (expense)	21	(143)	(8)
Total other income (expense)	470	508	1,293
Loss before provision for income taxes	(57,823)	(34,434)	(25,344)
Provision for income taxes	23	6	8
Net loss	(57,846)	(34,440)	(25,352)
Unrealized (losses) gains on marketable securities, net of tax	(78)	3	10
Comprehensive loss	$ (57,924)	$ (34,437)	$ (25,342)
Net loss per share—basic and diluted	$ (1.28)	$ (2.40)	$ (8.35)
Weighted-average common shares outstanding	45,137,656	14,364,475	3,035,243

Statements of Convertible Prefe

Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Series C Convertible Preferred Stock	Series D Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	AOCI Attributable to Parent	Accumulated Deficit
Balance at Dec. 31, 2018	$ (46,140)					$ 3,961	$ (13)	$ (50,088)
Balance, Shares at Dec. 31, 2018		17,396,640
Balance at Dec. 31, 2018		$ 107,228
Balance, Shares at Dec. 31, 2018					3,012,284
Issuance of convertible preferred stock			$ 61,705
Issuance of convertible preferred stock, Shares			5,469,606
Exercise of stock options	100					100
Exercise of stock options, Shares					33,916
Stock-based compensation expense	908					908
Net loss	(25,352)							(25,352)
Unrealized gain on available for sale investments	10						10
Balance at Dec. 31, 2019	$ (70,474)					4,969	(3)	(75,440)
Balance, Shares at Dec. 31, 2019	22,866,246	22,866,246	5,469,606
Balance at Dec. 31, 2019	$ 168,933	$ 168,933	$ 61,705
Balance, Shares at Dec. 31, 2019					3,046,200
Issuance of convertible preferred stock				$ 69,790
Issuance of convertible preferred stock, Shares				5,321,864
Conversion of convertible preferred stock to common stock	$ (238,723)
Conversion of convertible preferred stock to common stock, Shares	(28,188,110)
Conversion of convertible preferred stock to common stock	$ 238,723					238,723
Conversion of convertible preferred stock to common stock, Shares					28,188,110
Exercise of warrants	194					194
Exercise of warrants, Shares					9,688
Issuance of common stock, net of issuance costs	223,176					223,176
Issuance of common stock, net of issuance costs, Shares					13,529,750
Exercise of stock options	6					6
Exercise of stock options, Shares					4,070
Stock-based compensation expense	1,933					1,933
Net loss	(34,440)							(34,440)
Unrealized gain on available for sale investments	3						3
Balance at Dec. 31, 2020	$ 359,121					469,001		(109,880)
Balance, Shares at Dec. 31, 2020					44,777,818
Exercise of stock options, Shares	608,800
Exercise of stock options and common stock issued under the 2020 ESPP	$ 2,022					2,022
Exercise of stock options and common stock issued under the 2020 ESPP, Shares					655,866
Stock-based compensation expense	5,340					5,340
Net loss	(57,846)							(57,846)
Unrealized gain on available for sale investments	(78)						(78)
Balance at Dec. 31, 2021	$ 308,559					$ 476,363	$ (78)	$ (167,726)
Balance, Shares at Dec. 31, 2021					45,433,684

Statements of Convertible Pre_2

Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock
Issuance costs	$ 20,359
Series C Convertible Preferred Stock
Issuance costs			$ 168
Series D Convertible Preferred Stock
Issuance costs		$ 208

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (57,846)	$ (34,440)	$ (25,352)
Adjustments to reconcile net loss to net cash used in operating activities: activities:
Stock-based compensation	5,340	1,933	908
Depreciation	307	318	388
Amortization of premiums on marketable securities	550	152	62
Non-cash lease expense	974
Other	(19)	143	8
Change in operating assets and liabilities:
Prepaid expenses and other assets	38	(2,732)	(275)
Accounts payable	191	(1,230)	1,799
Accrued expenses	3,894	3,117	397
Net cash used in operating activities	(46,571)	(32,739)	(22,065)
Cash flows from investing activities:
Acquisition of property and equipment	(1,349)	(148)	(109)
Purchase of marketable securities	(256,845)	(14,512)	(43,452)
Maturities of marketable securities	114,610	42,571	46,792
Net cash (used in) provided by investing activities	(143,584)	27,911	3,231
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock, net issuance costs		69,790	61,705
Proceeds from the issuance of common stock, net		223,176
Proceeds from exercise of stock options	2,022	6	100
Net cash provided by financing activities	2,022	292,972	61,805
Net (decrease) increase in cash, cash equivalents, and restricted cash	(188,133)	288,144	42,971
Cash, cash equivalents, and restricted cash—beginning of period	361,422	73,278	30,307
Cash, cash equivalents, and restricted cash—end of period	173,289	361,422	73,278
Supplemental disclosures of noncash investing activities
Lease incentives used for leasehold improvements	(88)
Accrued purchases of property and equipment	1,391
Conversion of convertible preferred stock to common stock		238,723
Conversion of warrant liability to common stock		194
Supplemental disclosures of cash flow information
Cash paid for income tax	$ 23	$ 6	$ 8

Formation and Business of the C

Formation and Business of the Company	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Formation and Business of the Company	PMV Pharmaceuticals, Inc. Notes to Financial Statements December 31, 2021 and 2020 (in thousands except share and per share amounts) 1. Formation and Business of the Company Organization PMV Pharmaceuticals, Inc. (the “Company”) was incorporated in the state of Delaware in March 2013. Since inception, the Company has devoted substantially all of its time and efforts to performing research and development activities and raising capital. The Company is a precision oncology company pioneering the discovery and development of small molecule, tumor-agnostic therapies targeting p53. The Company’s headquarters are located in Cranbury, New Jersey. The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry including, but not limited to, technical risks associated with the successful research, development and manufacturing of product candidates, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Current and future programs will require significant 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. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. On September 25, 2020, the Company completed an initial public offering (the “IPO”) of 13,529,750 shares of common stock, at a public offering price of $18.00 per share including the exercise in full by the underwriters of their option to purchase up to 1,764,750 additional shares of commons stock, for aggregate gross proceeds of $243,536 and its shares started trading on The Nasdaq Global Select Market under the ticker symbol “PMVP.” The Company received $223,176 in net proceeds after deducting underwriting discounts and commissions and other offering expenses payable by the Company. In connection with the closing of the IPO, all of the Company’s outstanding shares of convertible preferred stock automatically converted into 28,188,110 shares of common stock. The Company has incurred net losses and negative cash flows from operations since it’s inception. During the year ended December 31, 2021, the Company incurred a net loss of $57,846 and used $46,571 of cash for operations. As of December 31, 2021, the Company had an accumulated deficit of $167,726. Cash, cash equivalents, and marketable securities were $314,074 as of December 31, 2021. Management expects to incur substantial additional operating losses for the next several years and may need to obtain additional debt or equity financings in order to complete development of its products, obtain regulatory approvals, launch and commercialize its products and continue research and development programs. The Company believes it has adequate cash and cash equivalents to operate for at least the next twelve months from the date of issuance of these financial statements.

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 Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. The Company has limited operating history and its prospects are subject to risks, expenses and uncertainties frequently encountered by companies in the biotechnology industry. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, research and development costs, accrued research and development costs and related prepaid expenses, and the fair values of common stock, convertible preferred stock and stock-based compensation. Actual results could differ materially from those estimates. The length of time and full extent to which the COVID-19 pandemic directly or indirectly impacts our business, results of operations and financial condition, including expense, the supply chain, clinical trials, research and development costs, and employee-related costs, depends on future developments that are highly uncertain, subject to change and are difficult to predict, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19 as well as the economic impact on local, regional, national and international customers and markets. We have made estimates of the impact of the COVID-19 pandemic within our consolidated financial statements and there may be changes to those estimates in future periods. Reverse Stock Split In September 2020, the Company’s board of directors and stockholders approved an amendment to the Company’s amended and restated certificate of incorporation to affect a 5.2651-for-1 reverse stock split of the Company’s common stock and convertible preferred stock, which was effected on September 24, 2020. The par value of the common stock and convertible preferred stock were not adjusted as a result of the reverse stock split. Accordingly, all common stock, convertible preferred stock, stock options, and related per share amounts in these financial statements have been retroactively adjusted for all periods presented to give effect to the reverse stock split. Fair Value of Financial Instruments The Company discloses and recognizes the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows: • Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active. • Level 3 - Inputs are unobservable in which there is little or no market data available, which require the reporting entity to develop its own assumptions that are unobservable. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. Cash, Cash Equivalents and Marketable Securities Management considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company’s marketable debt securities have been classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable debt securities with maturities of 12 months or less are classified as short-term and marketable debt securities with maturities greater than 12 months are classified as long-term. As of December 31, 2021, the company’s long-term marketable debt securities have maturity dates no more than two years. The Company’s marketable debt securities are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive loss in stockholders’ equity. Premiums and discounts on marketable debt securities are amortized into earnings over the life of the security. For the years ending December 31, 2021, 2020, and 2019, the company recorded, $550, $152, and $62 of amortization, respectively. Restricted cash as of December 31, 2021 included a $822 deposit at the Company’s commercial bank underlying a stand-by letter of credit issued in favor of a landlord (See Note 6) and is classified in current assets. Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the circumstances present. The Company accounts for a contract as a lease when it has the right to control the asset for a period of time while obtaining substantially all of the asset’s economic benefits. The Company determines the initial classification and measurement of its operating right-of-use (“ROU”) assets and operating lease liabilities at the lease commencement date, and thereafter if modified. The lease term includes any renewal options that the Company is reasonably assured to exercise. The Company’s policy is to not record leases with a lease term of 12 months or less on its balance sheets. The Company’s only existing leases are for office and laboratory space. The ROU asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The present value of lease payments is determined by using the interest rate implicit in the lease, if that rate is readily determinable; otherwise, the Company uses its estimated secured incremental borrowing rate for that lease term. Lease expense for operating leases is recognized on a straight-line basis over the reasonably assured lease term based on the total lease payments and is included in operating expense in the statements of operations. Payments due under each lease agreement include fixed and variable payments. Variable payments relate to the Company’s share of the lessor’s operating costs associated with the underlying asset and are recognized when the event on which those payments are assessed occurs. Neither of the Company’s leases contain residual value guarantees. The interest rate implicit in lease agreements is typically not readily determinable, and as such, the Company utilizes the incremental borrowing rate to calculate lease liabilities, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Property and Equipment Property and equipment are recorded at cost net of accumulated depreciation. Property and equipment are depreciated using the straight‑line method over the estimated useful lives of the assets, generally five years, except for leasehold improvements, which are amortized over the remaining term of the lease. Upon retirement or sale of assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Repairs and maintenance costs are charged to operations as incurred. Impairment of Long-Lived Assets Long-lived assets, are tested for recoverability whenever events or changes in the business environment indicate that the carrying amount of the assets may not be fully recoverable. Factors considered by the Company when deciding when to perform an impairment review include significant underperformance of the business against expectations, significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset for recoverability, the Company compares forecasts of undiscounted cash flows resulting from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows resulting 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 current fair value. To date, the Company has not recorded any impairment losses on long-lived assets. Comprehensive Income/Loss The Company recorded $(78), $3, and $10 in other comprehensive (loss) income related to unrealized (losses) gains on marketable securities, net of tax for the years ended December 31, 2021, 2020, and 2019, respectively. The Company presents comprehensive income in a single statement within its financial statements. Research and Development Expenses All costs associated with research and development are expensed as incurred. Research and development expenses include costs directly attributable to the conduct of research and development programs, including compensation costs, which includes allocated stock-based compensation, salary payroll taxes, employee benefits; materials; supplies; depreciation on and maintenance of research equipment; the cost of services provided by outside contractors; and the allocable portions of facility costs, such as rent, utilities, insurance, repairs and maintenance, depreciation, and general support services. The Company records accruals for estimated research and development expenses, comprising payments for work performed by third party vendors, clinical research organizations, clinical manufacturing organizations and others. Some of these vendors bill monthly based on actual services performed, while others bill periodically based upon achieving certain contractual milestones. For the latter, the Company accrues the expenses as goods or services are used or rendered. Research and development activities related to patient enrollment are accrued as patients enter and progress through the trial. In the event that we prepay fees, we record the prepayment as a prepaid asset and periodically evaluate the prepaid asset in conjunction with the related accrued research and development expenses. Convertible Preferred Stock The Company’s convertible preferred stock was classified outside of stockholders’ deficit because the shares contained deemed liquidation rights that were a contingent redemption feature not solely within the control of the Company. The Company’s policy is not to accrete the carrying value and related issuance costs of the convertible preferred stock to its redemption value until it is probable that the security will become redeemable. The convertible preferred stock converted to common stock in connection with the Company’s Initial Public Offering (“IPO”) on September 25, 2020. Derivative Liabilities The Company may issue certain financial instruments with embedded features which may be accounted for as separate derivative assets or liabilities, dependent on their specific contractual terms or other conditions. These derivative assets or liabilities are required to be measured at fair value at issuance and remeasured Stock‑Based Compensation The Company’s share-based compensation program allows for grants of stock options and restricted stock awards. Grants The Company accounts for stock-based employee compensation arrangements in accordance with provisions of ASC 718, Compensation – Stock Compensation . awards The Company’s stock-based compensation awards are subject to either service or performance-based vesting conditions. Compensation expense related to awards to employees and directors with service-based vesting conditions The Black-Scholes option pricing model requires inputs based on certain subjective assumptions, including (i) the expected stock price volatility, (ii) the expected term of the award, (iii) the risk-free interest rate and (iv) expected dividends. Due to the lack of a public market for the Company’s common stock until September 2020 and lack of company-specific historical and implied volatility data, the Company has based its computation of expected volatility on the historical volatility of a representative group of public companies with similar characteristics to the Company, including stage of product development and life science industry focus. The historical volatility is calculated based on a period of time commensurate with expected term assumption. The Company uses the simplified method to calculate the expected term for options granted to employees whereby the expected term equals the arithmetic average of the vesting term and the original contractual term of the options due to its lack of sufficient historical data. The risk-free interest rate is based on U.S. Treasury securities with a maturity date commensurate with the expected term of the associated award. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. The Company recognizes forfeitures as they occur. Prior to the Company’s IPO, due to the absence of an active market for the Company’s common stock, the Company utilized methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation, to estimate the fair value of its common stock. In determining the exercise prices for options granted, the Company considered the estimated fair value of the common stock as of the measurement date. Prior to the Initial Public Offering, the estimated fair value of the common stock was determined at each grant date based upon a variety of factors, including the illiquid nature of the common stock, arm’s-length sales of the Company’s capital stock (including convertible preferred stock), the effect of the rights and preferences of the preferred shareholders, and the prospects of a Segment Reporting Operating segments are identified as components of an enterprise for which separate discrete financial information is available Net Loss per Common Share Basic net loss per share is computed using the “two-class” method which includes the weighted average number of shares of common stock outstanding during the period and other securities that participate in dividends (a participating Earnings per Share pari passu Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes deferred assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax assets will not be realized. The Company evaluates annually the realizability of the deferred tax assets by assessing the valuation allowance and by adjusting the amount of such allowance, if necessary. The factors used to assess the likelihood of realization include forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets. In 20 2 1 and 20 20 , the Company recorded a full valuation allowance for the deferred tax assets based on the historical loss and the uncertainty regarding the ability to project future taxable income. In future periods if the Company is able to generate income, the Company may reduce or eliminate the valuation allowance. The Company accounts for uncertain tax positions in accordance with ASC 740. ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax provision that an entity takes or expects to take in a tax return. Additionally, ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosures, and transition. Under ASC 740, an entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. In accordance with this accounting policy, the Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax. Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-02, Leases (Topic 842), as amended by multiple standards updates, in order to increase transparency and comparability among organizations by requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The most significant change arising from the new standard is the recognition of right of use assets and lease liabilities for leases classified as operating leases. The right-of-use lease liability for operating leases is based on the net present value of future minimum lease payments. Additionally, the right-of-use asset for operating leases is based on the lease liability adjusted for the reclassification of certain balance sheet amounts such as the long term portion of straight line rent liability and deferred lease incentives. Under the standard, disclosures are required to enable financial statement users to assess the amount, timing, and uncertainty of cash flows arising from the leases. Companies are also required to recognize and measure leases existing at, or entered into after, the adoption date using a modified retrospective approach, with certain practical expedients available. Comparative periods prior to adoption have not been retrospectively adjusted. The Company adopted the standard effective January 1, 2021 using the modified retrospective transition method. Upon adoption, the Company applied the package of practical expedients that allows an entity to not reassess (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases and (iii) initial direct costs for any expired or existing leases. The Company elected the practical expedient not to apply the recognition requirements to short-term leases, defined as a lease that at the commencement date has a lease term of 12 months or less that does not include a purchase option to purchase the underlying asset that the Company is reasonably certain to exercise. Furthermore, the Company has elected the practical expedient to not separate lease and non-lease components by class of underlying asset for its existing leases. As the Company enters into new leases, it will continue to evaluate this accounting policy for any new classes of underlying assets. Upon adoption, the Company recorded ROU assets of $970 and lease liabilities of $1,129. The standard did not have a material impact on the statement of operations or statement of cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes. The new guidance simplifies the accounting for income taxes by removing several exceptions in the current standard and adding guidance to reduce complexity in certain areas, such as requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company adopted this standard as of January 1, 2021 . The adoption did no t have a material impact on the Company’s financial statements. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents and marketable securities. Cash and cash equivalents include a checking account and a money market account held at one financial institution. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company’s marketable debt securities are carried at fair value and include any unrealized gains and losses. Any investments with unrealized losses are considered to be temporarily impaired. The Company’s future results of operations involve a number of risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, rapid technological change, uncertainty of market acceptance of the product, competition from substitute products and larger companies, protection of proprietary technology, any future strategic relationships and dependence on key individuals. Products developed by the Company require clearances from the U.S. Food and Drug Administration or other international regulatory agencies prior to commercial sales. There can be no assurance the Company’s product candidates will receive the necessary clearances. If the Company is denied clearance, clearance is delayed or it is unable to maintain clearance, it could have a materially adverse impact on the Company. In January 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a “Public Health Emergency of International Concern,” which continues to spread throughout the world. The outbreak has adversely impacted global commercial activity and contributed to significant volatility in financial markets. The COVID-19 outbreak and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions. The Company continues to monitor the impact of the COVID-19 outbreak closely.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	3. Financial Instruments and Fair Value Measurements The Company’s financial instruments consist of money market funds, U.S. government debt securities and corporate debt securities. The following tables show the Company’s cash equivalents and available-for-sale securities’ carrying amounts and fair values as of December 31, 2021 and 2020: As of December 31, 2021 Carrying Amount Fair Value Quoted priced in active markets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Financial assets Money market funds $ 40,960 $ 40,960 $ 40,960 $ – $ – Corporate securities 227,362 227,362 – 227,362 – Government securities 42,245 42,245 – 42,245 – Total financial assets $ 310,567 $ 310,567 $ 40,960 $ 269,607 $ – As of December 31, 2020 Carrying Amount Fair Value Quoted priced in active markets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Financial assets Money market funds $ 240,033 $ 240,033 $ 240,033 $ – $ – Corporate securities 120,008 120,008 – 120,008 – Total financial assets $ 360,041 $ 360,041 $ 240,033 $ 120,008 $ – Cash and Cash Equivalents – As of December 31, 2021, the company had cash of $3,508 and cash equivalents of $168,960. Cash equivalents consisted of money market funds of $40,960 and corporate debt securities of $128,000. Cash equivalents of $360,041 as of December 31, 2020 consisted of money market funds of $240,033 and corporate debt securities of $120,008. Money market funds are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets, whereas corporate debt securities are classified within level 2 of the fair value hierarchy because they are valued using inputs other than quoted prices that are observable for the asset or liability either directly or indirectly. Marketable Securities Marketable securities of $141,607 as of December 31, 2021 consisted of corporate debt securities of $99,362 and government debt securities of $42,245. There were $124,696 current marketable securities and $16,911 noncurrent marketable securities as of December 31, 2021. There were no marketable securities as of December 31, 2020.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net December 31, 2021 2020 Machinery & equipment $ 2,261 $ 1,989 Computers 8 8 Furniture & fixtures 9 9 Leasehold improvements 161 73 Assets not placed in service 2,519 51 Total property and equipment 4,958 2,130 Less: Accumulated depreciation (1,868 ) (1,561 ) Property and equipment, net $ 3,090 $ 569 Depreciation expense for the years ended December 31, 2021, 2020, and 2019 was $307, $318, and $388, respectively.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consists of the following: December 31, 2021 2020 Accrued compensation $ 3,797 $ 3,109 Accrued research and development costs 4,734 1,595 Other accrued liabilities 96 99 Total $ 8,627 $ 4,803

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Operating Leases In June 2015, the Company executed a noncancelable operating lease for approximately 13,000 square feet of laboratory, research and development, and office space in Cranbury, New Jersey for an initial base rent of $20.00 per square foot. This location operates as the Company’s current headquarters. In June 2017, the Company obtained an additional noncancelable operating lease for about 6,000 square feet of laboratory space in the same corporate center at an initial rental rate at $22.00 per square foot. As a result of the additional space, both leases will expire June 2022, with an option to renew on a month-to-month basis, with an increase in base rent as per the lease, for up to an additional year. Both leases include a common area maintenance expense for $3.00 per square foot with an increase of 3% on the first month of each calendar year during the lease term and a management fee of 3% of the base rent. In August 2018, the Company executed two noncancelable operating leases. One lease for approximately 6,000 square feet for vivarium, laboratory and general office space in South Brunswick, New Jersey. The initial annual base rent is $15.50 per square foot and a management fee of 3% of the base rent. The Company is obligated to pay, on a pro-rata basis, insurance premiums, real estate taxes and operating costs related to the premises. The lease expires in July 2022 , with an option to renew on a month-to-month basis , with an increase in base rent as per the lease, for up to an additional year . The second lease is for office space in Lexington, Massachusetts, that expires August 2023 , with an option to renew for a one-time, three-year extension. The initial annual base rent is $ 28.50 per square foot and will increase $ 1.00 per square foot at the end of each rent year. In 2018, the company received a lease incentive for the buildout of 420 Bedford Street in Lexington, MA. The Company was given an allowance for $165 on behalf of the lessor for construction of office space. Management recognizes this allowance as a lease incentive in its Right-of-Use asset and straight-lines the allowance throughout the term of the lease. As of December 31, 2021, the remaining rent incentive pertaining to the Lexington, MA lease totaled $64. In January 2021, the Company signed a lease for 50,581 square feet of office and laboratory space at One Research Way in Princeton, New Jersey. The Company intends to complete the relocation of their headquarters from Cranbury, NJ to One Research Way in Princeton NJ in late 2022. That lease term extends through 2032, has a five-year Management estimated the timing and amounts of reimbursements and included them as a reduction of lease payments when initially measuring the lease liability and right-of-use asset upon commencement. The components of lease cost for the year ended December 31, 2021 are as follows: (in thousands) Year Ended December 31, 2021 Operating lease cost $ 1,691 Variable lease cost 704 Total lease cost $ 2,395 Amounts reported in the balance sheet for leases where the Company is the lessee as of December 31, 2021 were as follows, in thousands: Operating Leases: Year Ended December 31, 2021 Right-of-use assets, operating leases $ 10,060 Operating lease liabilities, current $ 403 Operating lease liabilities, non-current 10,790 Total operating lease liabilities $ 11,193 Weighted-average remaining lease term (years) 10.02 Weighted-average discount rate 5.75 % Other information related to leases for the year ended December 31, 2021 is as follows, in thousands: Cash paid for amounts included in the measurement of lease liabilities $ 717 Leased assets obtained in exchange for new operating lease liabilities 10,318 Future minimum lease payments, net of reimbursements, remaining as of December 31, 2021 under operating leases by fiscal year were as follows, in thousands: Fiscal year 2022 $ (2,609 ) 2023 1,833 2024 1,814 2025 1,869 2026 1,925 Thereafter 11,477 Total minimum lease payments $ 16,309 Less: Amounts representing imputed interest (5,116 ) Present value of lease liabilities $ 11,193 Rent expense recorded for the years ended December 31, 2021 and 2020 were $1,691 and $561, respectively. The company currently subleases the office space at 420 Bedford Street in Lexington, MA to another company. This sublease agreement expires in August, 2023. In April 2021, the company entered into a sublease agreement with the previous tenants of the office space at One Research Way in Princeton, NJ, from April 2021 to July 2021. As of December 31, 2021, sublease income for the Company was $116. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities. The Company accrues a liability for such matters when future expenditures are probable and such expenditures can be reasonably estimated. Commitments As of December 31, 2021, there were no purchase commitments with third-party suppliers.

Convertible Preferred Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Convertible Preferred Stock	7. Convertible Preferred Stock As of December 31, 2019, the Company’s Certificate of Incorporation, as amended and restated, authorized the Company to issue up to 22,883,426 shares of convertible preferred stock with a par value of $0.00001 per share preferred As of December Preferred stock authorized Preferred stock issued and outstanding Carrying value Liquidation preference Common stock issuable upon conversion Series Seed Preferred 1,657,903 1,647,102 $ 3,008 $ 3,050 1,647,102 Series A Preferred 8,076,985 8,076,982 30,593 30,734 8,076,982 Series B Preferred 7,672,560 7,672,556 73,627 73,728 7,672,556 Series C Preferred 5,475,978 5,469,606 61,705 61,873 5,469,606 22,883,426 22,866,246 $ 168,933 $ 169,385 22,866,246 In July 2020, the Company issued 5,321,864 shares of Series D Preferred Stock at a price of $13.1533 per share, resulting in gross proceeds of $70,000. In connection with the IPO on September 25, 2020, all of the Company’s convertible preferred stock, including Series D Preferred Stock, outstanding at the time of the IPO automatically converted into an aggregate of 28,188,110 shares of common stock. The holders of Preferred Stock have the rights, preferences, privileges and restrictions as set forth below: Dividends: The holders of Preferred Stock are entitled to receive non-cumulative dividends prior to and in preference to any declaration of payment of dividends on common stock, when and if declared by the Board of Directors. Any additional dividends will be paid ratably to holders of common and Preferred Stock, with the holders of Preferred Stock participating on an as-if converted basis. No dividends have been declared or paid as of December 31, 2019. Voting Rights: The holders of each share of Preferred Stock are entitled to voting rights equal to the number of shares of common stock into which the shares could be converted. As long as any shares of Preferred Stock remain outstanding, the holders of Preferred Stock, voting together as a class, shall be entitled to elect four members of the Company’s Board of Directors. The holders of common stock, voting together as a single class, shall be entitled to elect two members of the Company’s Board of Directors. Remaining members of the Company’s Board of Directors will be elected by the holders of a majority of the shares of Preferred Stock and common stock, voting together as a single class. Liquidation Rights: In the event of any liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, the holders of Preferred Stock have liquidation preferences, before any distribution or payment is made to holders of any common stock, in an amount per share equal to the original issue price of $1.8517 for Series Seed Preferred, $3.7266 for Series A Preferred, $9.6093 for Series B Preferred and $11.3121 for Series C Preferred, as adjusted for stock splits, stock dividends, combinations, recapitalizations and the like, plus any declared but unpaid dividends. If the assets and funds to be distributed among the holders of Preferred Stock are insufficient to permit the payment to such holders, then the entire assets and funds of the Company legally available for distribution will be distributed ratably among the holders of Preferred Stock in proportion to the preferential amount each such holder is otherwise entitled to receive. Upon completion of the payment of the full liquidation preference of Preferred Stock, the remaining assets of the Company, if any, shall be distributed with equal priority and ratably to the holders of common stock and Preferred Stock, with the Preferred Stock being treated as if the Preferred Stock had been converted to shares of common stock at the then applicable conversion rate. Notwithstanding the foregoing, the aggregate distributions made with respect to any shares of Preferred Stock may not exceed the greater of (i) an amount equal to two times the original issue price plus any declared but unpaid dividends on such share or (ii) the amount the holder would have received if all shares of the Preferred Stock were deemed to have been converted into common stock as of immediately prior to such liquidation, dissolution or winding up of the Company. Conversion: Each share of Preferred Stock is convertible into shares of common stock, at the option of the holder, at any time after date of issuance. Each share of Preferred Stock automatically converts to the number of shares of common stock determined in accordance with the conversion rate upon the earlier of (i) written consent of two-thirds of the then outstanding shares of Preferred Stock, voting together as a single class, and written consent of the majority of the then outstanding shares of Series C Preferred or (ii) the closing of a public offering, in which the gross cash proceeds are at least $40,000 and the initial offering price to the public is at least $11.3121 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations, reorganizations, reclassifications or the like). As of December 31, 2019, the conversion price for each share of Series Seed Preferred, Series A Preferred, Series B Preferred and Series C Preferred is $1.8517, $3.7266, $9.6093 and $11.3121, respectively.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common Stock	8. Common Stock The Company is authorized to issue up to 1,000,000,000 shares of common stock with a par value of $0.00001 per share, and 5,000,000 shares of preferred stock with a par value of $0.00001 per share. As of December 31, 2021 and 2020, there were 45,433,684 and 44,777,818 shares of common stock issued and outstanding, respectively. Common stockholders are entitled to receive dividends if and when declared by the board of directors subject to the rights of any preferred stockholders. As of December 31, 2021, no dividends on common stock had been declared by the Company. As of December 31, 2021 and 2020, the Company had reserved shares of common stock for issuance as follows: December 31, 2021 2020 Options issued and outstanding 4,246,007 4,090,970 Shares available for future stock option grants 4,951,680 4,609,725 Shares available for employee stock purchase plan 801,464 400,752 Total 9,999,151 9,101,447

Stock Plan

Stock Plan	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Plan	9 Stock Plan 2020 Equity Incentive Plan The 2020 Equity Incentive Plan (the “2020 Plan”) was approved by the board of directors on September 24, 2020. The 2020 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, restricted stock awards, unrestricted stock awards, cash-based awards and dividend equivalent rights to the Company’s officers, employees, directors and consultants. The number of shares of common stock initially reserved for issuance under the 2020 Plan is 4,406,374, which shall be increased, upon approval by the board of directors, on January 1, 2021 and each January 1 thereafter, in an amount equal to the least of (i) 4,406,374 shares of common stock, (ii) five percent , or (iii) such number of common stock determined by the board of directors no later than the immediately preceding December 31. 2020 Employee Stock Purchase Plan The 2020 Employee Stock Purchase Plan (the “2020 ESPP”) was approved by the board of directors on September 24, 2020. A total of 400,752 shares of common stock were initially reserved for issuance under this plan, which shall be increased, upon approval by the board of directors, on January 1, 2021 and each January 1 thereafter, to the lesser of (i) 801,504 shares of common stock, (ii) 1% of the outstanding shares of common stock on the last day of the immediately preceding fiscal year, or (iii) an amount determined by the board of directors or any of its committees no later than the last day of the immediately preceding fiscal year. For 2021, the 2020 ESPP reserved shares were increased under clause (iii) by zero shares, effective as of January 1, 2022. On November 19, 2021, employees exercised their right to purchase 10,480 shares under the 2020 ESPP. As of December 31, 2021, 47,066 shares are issued or outstanding, and there were 801,464 shares available for issuance, under the 2020 ESPP. 2013 Equity Incentive Plan In 2013, the Company adopted the 2013 Stock Plan (the “2013 Plan”). On September 24, 2020, this plan was replaced by the 2020 Plan, and future issuances of incentive instruments will be governed by that plan. Subject to the provisions of the 2020 Plan, the Company had the option to either forfeit or repurchase remaining shares under the 2013 Equity Incentive Plan on or after the registration date. The Company chose to forfeit the remaining shares. Stock-Based Compensation The following table summarizes option activity for the year ended December 31, 2021: Options Outstanding Weighted- Average Weighted Remaining Aggregate Shares Number Average Contractual Intrinsic Available of Exercise Life Value for Grant Options Price (in years) (in 000s) Balances, December 31, 2020 4,609,725 4,090,970 $ 3.14 7.13 $ 238,792 Shares reserved for issuance 1,343,334 – Options retired under 2013 Equity Plan (237,542 ) – Options granted (807,180 ) 807,180 $ 29.22 Options forfeited / cancelled 43,343 (43,343 ) $ 6.89 Options exercised – (608,800 ) $ 2.03 Balances, December 31, 2021 4,951,680 4,246,007 $ 8.22 6.86 $ 68,506 At December 31, 2021 Vested and expected to vest 4,246,007 $ 8.22 6.86 $ 68,506 Exercisable 2,668,149 $ 3.48 5.80 $ 52,952 The weighted average grant date fair value of stock options granted during the year ended December 31, 2021 and 2020 was $20.03 and $3.34, respectively. The aggregate intrinsic value of options vested and exercisable as of December 31, 2021 and 2020 is calculated based on the difference between the exercise price and the fair value of our common stock. The intrinsic value of options exercised in 2021 and 2020 was $18,534 and $245, respectively. As of December 31, 2021, the total compensation cost related to nonvested service-based awards not yet recognized is $15,708. The weighted-average period over which the nonvested awards is expected to be recognized is 3.1years. The Company estimated Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.35% - 1.30% 0.31% - 1.51% 1.49% - 2.51% Expected life (in years) 5.50 - 6.44 4.92 - 6.40 5.27 - 6.37 Dividend yield 0% 0% 0% Expected volatility 76.50% - 79.90% 70.70% - 77.60% 72.07% - 72.69% The weighted average assumptions used to estimate the fair value of stock options granted and stock purchase rights under the ESPP are as follows: Year Ended December 31, 2021 Risk-free interest rate 0.04% Expected life (in years) 0.50 Dividend yield 0% Expected volatility 77.83% Expected Term: The Company uses the simplified method to calculate expected term described in the SEC’s Staff Accounting Bulletin No. 107, which takes into account vesting term and expiration date of the options. Volatility: Volatility is based on an average of the historical volatilities of comparable publicly traded companies for the expected term. Risk Free Interest Rate: The risk-free rate is based on the U.S. Treasury yields in effect at the time of grant for periods corresponding with the expected term of the option. Dividend Yield: The Company has never declared or paid any cash dividends and does not plan to pay cash dividends in the foreseeable future, and therefore, used an expected dividend yield of zero in the valuation model. S tock-based compensation expense recorded under ASC 718 related to options granted was allocated to research and development and general and administrative expense as follows: For the Years Ended December 31, 2021 2020 2019 Research and development $ 1,440 $ 836 $ 302 General and administrative 3,900 1,097 606 Total stock-based compensation $ 5,340 $ 1,933 $ 908

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The income tax provision for the years ended December 31, 2021, 2020, and 2019 are as follows (in thousands): For the Years Ended December 31, 2021 2020 2019 Current: Federal $ - $ - $ - State 23 6 8 Total current 23 6 8 Deferred: Federal $ - $ - $ - State - - - Total deferred - - - Total Provision $ 23 $ 6 $ 8 A reconciliation of income tax computed at the statutory federal income tax rate to the provision for income taxes included in the accompanying statements of operations for the Company is as follows: For the Years Ended December 31, 2021 December 31, 2020 December 31, 2019 Income tax provision at statutory rate 21 % 21 % 21 % State income taxes, net of federal benefit 9 % 8 % 7 % Tax credits 3 % 2 % 1 % Stock compensation 5 % (1 )% 0 % Other (1 )% 0 % 0 % Change in valuation allowance (37 )% (30 )% (29 )% Effective income tax rate 0 % 0 % 0 % For the years ended December 31, 2021, 2020, and 2019, the Company’s effective tax rate is below the federal statutory income tax rate of 21% primarily due to state income taxes, net of federal benefit and the Company’s position to establish a full valuation allowance on its deferred tax assets. The tax effect of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets As of December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 45,231 $ 27,511 Stock compensation 1,587 748 Research and development credits 4,593 2,414 Accruals and reserves 1,033 830 Operating lease liabilities 3,175 - Total deferred tax assets 55,619 31,503 Valuation allowance (52,728 ) (31,458 ) Deferred tax assets recognized 2,891 45 Deferred tax liabilities: Right-of-use assets (2,854 ) - Fixed assets and depreciation (37 ) (45 ) Total deferred tax liabilities (2,891 ) (45 ) Net deferred tax assets $ - $ - The Company has recorded a valuation allowance for its deferred tax assets that it does not believe will be realizable at a more likely than not level based on analysis of all available sources of taxable income. As of December 31, 2021 and 2020, the Company had federal net operating loss carryforwards of $159,886 and $97,665, respectively. As of December 31, 2021, the Company had state net operating loss carryforwards for New Jersey, California and Massachusetts of approximately $154,972, $4,912, and $4,640 respectively. At December 31, 2020, the Company had state net operating loss carryforwards for New Jersey, California and Massachusetts of approximately $92,805, $4,912 and $950, respectively. Federal net operating loss carryforwards of $27,515 expire beginning in the year 2033. State net operating loss carryforwards begin to expire in the year 2033 . Net operating loss carryforwards related to tax years after 2017 of $ 132,371 do not expire. The Company also has federal and state research and development credit carryforward of approximately $ 6,588 and $ a s of December 31, 2021 and 20 20 , respectfully . The federal credits will begin to expire in 2034 if not utilized. The California state credits carryforward indefinitely and the New Jersey state credits expire starting in 202 2 . The above net operating losses and research and development credits are subject to Sections 382 and 383 of the Internal Revenue Code. In the event of a change in ownership as defined by these code sections, the usage of the net operating losses and research and development credits may be limited. The Company accrues interest and penalties related to unrecognized tax benefits in the Provision for income taxes line item in the statements of operations and comprehensive loss . As of December 31, 2021 and 2020, the Company had not accrued any interest or penalties related to uncertain tax positions. If the ending balance of $1,654 and $877 of unrecognized tax benefits as of December 31, 2021 and 2020, respectively, were recognized, none of the recognition would affect the income tax rate. The following table summarized the activity related to the Company’s unrecognized tax benefits: For the Years Ended December 31, 2021 December 31, 2020 Unrecognized tax benefits, beginning of year $ 877 $ 543 Increases related to prior year tax positions 43 5 Increases related to current year tax positions 734 329 Unrecognized tax benefits, end of year $ 1,654 $ 877 The Company does not anticipate any material change in its unrecognized tax benefits over the next twelve months. The unrecognized tax benefits may change during the next year for items that arise in the ordinary course of business. The Company files U.S. federal and state income tax returns with varying statutes of limitations. The Company’s tax years

Net Loss per Share

Net Loss per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss per Share	11. Net Loss per Share The Company’s convertible preferred stock does not participate in losses. The Company excluded all outstanding stock options and restricted stock awards at each period end from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect. For the Years Ended December 31, 2021 2020 2019 Convertible preferred stock (as converted) – – 22,866,246 Warrants to purchase common stock – – 10,800 Common stock options issued and outstanding 4,246,007 4,090,970 2,767,868 Total 4,246,007 4,090,970 25,644,914 For the Years Ended December 31, 2021 2020 2019 Net loss $ (57,846 ) $ (34,440 ) $ (25,352 ) Weighted-average number of shares - basic and diluted 45,137,656 14,364,475 3,035,243 Net loss per share - basic and diluted $ (1.28 ) $ (2.40 ) $ (8.35 )

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Parties	12. Related Parties The Company has consulting agreements with two members of its board of directors. The total of consulting fees paid as of the years ended December 31, 2021 and December 31, 2020 were $110 and $112, respectively. In May of 2021, the two members of the board of directors were awarded 5,781 options of company stock each, as per their updated Scientific Advisory Board agreements. There were no amounts owed under the consulting agreements as of December 31, 2021 or December 31, 2020. During the fiscal year ended December 31, 2020, an investor provided $65 of financial consulting services to the Company. The Company has paid the entirety of the fees as of December 31, 2020. No amounts were paid or owed to the investors as of the year ended December 31,2021.

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 The accompanying financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. The Company has limited operating history and its prospects are subject to risks, expenses and uncertainties frequently encountered by companies in the biotechnology industry.
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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, research and development costs, accrued research and development costs and related prepaid expenses, and the fair values of common stock, convertible preferred stock and stock-based compensation. Actual results could differ materially from those estimates. The length of time and full extent to which the COVID-19 pandemic directly or indirectly impacts our business, results of operations and financial condition, including expense, the supply chain, clinical trials, research and development costs, and employee-related costs, depends on future developments that are highly uncertain, subject to change and are difficult to predict, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19 as well as the economic impact on local, regional, national and international customers and markets. We have made estimates of the impact of the COVID-19 pandemic within our consolidated financial statements and there may be changes to those estimates in future periods.
Reverse Stock Split	Reverse Stock Split In September 2020, the Company’s board of directors and stockholders approved an amendment to the Company’s amended and restated certificate of incorporation to affect a 5.2651-for-1 reverse stock split of the Company’s common stock and convertible preferred stock, which was effected on September 24, 2020. The par value of the common stock and convertible preferred stock were not adjusted as a result of the reverse stock split. Accordingly, all common stock, convertible preferred stock, stock options, and related per share amounts in these financial statements have been retroactively adjusted for all periods presented to give effect to the reverse stock split.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company discloses and recognizes the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows: • Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active. • Level 3 - Inputs are unobservable in which there is little or no market data available, which require the reporting entity to develop its own assumptions that are unobservable. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.
Cash, Cash Equivalents and Marketable Securities	Cash, Cash Equivalents and Marketable Securities Management considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company’s marketable debt securities have been classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable debt securities with maturities of 12 months or less are classified as short-term and marketable debt securities with maturities greater than 12 months are classified as long-term. As of December 31, 2021, the company’s long-term marketable debt securities have maturity dates no more than two years. The Company’s marketable debt securities are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive loss in stockholders’ equity. Premiums and discounts on marketable debt securities are amortized into earnings over the life of the security. For the years ending December 31, 2021, 2020, and 2019, the company recorded, $550, $152, and $62 of amortization, respectively. Restricted cash as of December 31, 2021 included a $822 deposit at the Company’s commercial bank underlying a stand-by letter of credit issued in favor of a landlord (See Note 6) and is classified in current assets.
Leases	Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the circumstances present. The Company accounts for a contract as a lease when it has the right to control the asset for a period of time while obtaining substantially all of the asset’s economic benefits. The Company determines the initial classification and measurement of its operating right-of-use (“ROU”) assets and operating lease liabilities at the lease commencement date, and thereafter if modified. The lease term includes any renewal options that the Company is reasonably assured to exercise. The Company’s policy is to not record leases with a lease term of 12 months or less on its balance sheets. The Company’s only existing leases are for office and laboratory space. The ROU asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The present value of lease payments is determined by using the interest rate implicit in the lease, if that rate is readily determinable; otherwise, the Company uses its estimated secured incremental borrowing rate for that lease term. Lease expense for operating leases is recognized on a straight-line basis over the reasonably assured lease term based on the total lease payments and is included in operating expense in the statements of operations. Payments due under each lease agreement include fixed and variable payments. Variable payments relate to the Company’s share of the lessor’s operating costs associated with the underlying asset and are recognized when the event on which those payments are assessed occurs. Neither of the Company’s leases contain residual value guarantees. The interest rate implicit in lease agreements is typically not readily determinable, and as such, the Company utilizes the incremental borrowing rate to calculate lease liabilities, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost net of accumulated depreciation. Property and equipment are depreciated using the straight‑line method over the estimated useful lives of the assets, generally five years, except for leasehold improvements, which are amortized over the remaining term of the lease. Upon retirement or sale of assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Repairs and maintenance costs are charged to operations as incurred.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets, are tested for recoverability whenever events or changes in the business environment indicate that the carrying amount of the assets may not be fully recoverable. Factors considered by the Company when deciding when to perform an impairment review include significant underperformance of the business against expectations, significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset for recoverability, the Company compares forecasts of undiscounted cash flows resulting from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows resulting 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 current fair value. To date, the Company has not recorded any impairment losses on long-lived assets.
Comprehensive Income/Loss	Comprehensive Income/Loss The Company recorded $(78), $3, and $10 in other comprehensive (loss) income related to unrealized (losses) gains on marketable securities, net of tax for the years ended December 31, 2021, 2020, and 2019, respectively. The Company presents comprehensive income in a single statement within its financial statements.
Research and Development Expenses	Research and Development Expenses All costs associated with research and development are expensed as incurred. Research and development expenses include costs directly attributable to the conduct of research and development programs, including compensation costs, which includes allocated stock-based compensation, salary payroll taxes, employee benefits; materials; supplies; depreciation on and maintenance of research equipment; the cost of services provided by outside contractors; and the allocable portions of facility costs, such as rent, utilities, insurance, repairs and maintenance, depreciation, and general support services. The Company records accruals for estimated research and development expenses, comprising payments for work performed by third party vendors, clinical research organizations, clinical manufacturing organizations and others. Some of these vendors bill monthly based on actual services performed, while others bill periodically based upon achieving certain contractual milestones. For the latter, the Company accrues the expenses as goods or services are used or rendered. Research and development activities related to patient enrollment are accrued as patients enter and progress through the trial. In the event that we prepay fees, we record the prepayment as a prepaid asset and periodically evaluate the prepaid asset in conjunction with the related accrued research and development expenses.
Convertible Preferred Stock	Convertible Preferred Stock The Company’s convertible preferred stock was classified outside of stockholders’ deficit because the shares contained deemed liquidation rights that were a contingent redemption feature not solely within the control of the Company. The Company’s policy is not to accrete the carrying value and related issuance costs of the convertible preferred stock to its redemption value until it is probable that the security will become redeemable. The convertible preferred stock converted to common stock in connection with the Company’s Initial Public Offering (“IPO”) on September 25, 2020.
Derivative Liabilities	Derivative Liabilities The Company may issue certain financial instruments with embedded features which may be accounted for as separate derivative assets or liabilities, dependent on their specific contractual terms or other conditions. These derivative assets or liabilities are required to be measured at fair value at issuance and remeasured
Stock Based Compensation	Stock‑Based Compensation The Company’s share-based compensation program allows for grants of stock options and restricted stock awards. Grants The Company accounts for stock-based employee compensation arrangements in accordance with provisions of ASC 718, Compensation – Stock Compensation . awards The Company’s stock-based compensation awards are subject to either service or performance-based vesting conditions. Compensation expense related to awards to employees and directors with service-based vesting conditions The Black-Scholes option pricing model requires inputs based on certain subjective assumptions, including (i) the expected stock price volatility, (ii) the expected term of the award, (iii) the risk-free interest rate and (iv) expected dividends. Due to the lack of a public market for the Company’s common stock until September 2020 and lack of company-specific historical and implied volatility data, the Company has based its computation of expected volatility on the historical volatility of a representative group of public companies with similar characteristics to the Company, including stage of product development and life science industry focus. The historical volatility is calculated based on a period of time commensurate with expected term assumption. The Company uses the simplified method to calculate the expected term for options granted to employees whereby the expected term equals the arithmetic average of the vesting term and the original contractual term of the options due to its lack of sufficient historical data. The risk-free interest rate is based on U.S. Treasury securities with a maturity date commensurate with the expected term of the associated award. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. The Company recognizes forfeitures as they occur. Prior to the Company’s IPO, due to the absence of an active market for the Company’s common stock, the Company utilized methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation, to estimate the fair value of its common stock. In determining the exercise prices for options granted, the Company considered the estimated fair value of the common stock as of the measurement date. Prior to the Initial Public Offering, the estimated fair value of the common stock was determined at each grant date based upon a variety of factors, including the illiquid nature of the common stock, arm’s-length sales of the Company’s capital stock (including convertible preferred stock), the effect of the rights and preferences of the preferred shareholders, and the prospects of a
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise for which separate discrete financial information is available
Net Loss per Common Share	Net Loss per Common Share Basic net loss per share is computed using the “two-class” method which includes the weighted average number of shares of common stock outstanding during the period and other securities that participate in dividends (a participating Earnings per Share pari passu
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes deferred assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax assets will not be realized. The Company evaluates annually the realizability of the deferred tax assets by assessing the valuation allowance and by adjusting the amount of such allowance, if necessary. The factors used to assess the likelihood of realization include forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets. In 20 2 1 and 20 20 , the Company recorded a full valuation allowance for the deferred tax assets based on the historical loss and the uncertainty regarding the ability to project future taxable income. In future periods if the Company is able to generate income, the Company may reduce or eliminate the valuation allowance. The Company accounts for uncertain tax positions in accordance with ASC 740. ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax provision that an entity takes or expects to take in a tax return. Additionally, ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosures, and transition. Under ASC 740, an entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. In accordance with this accounting policy, the Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-02, Leases (Topic 842), as amended by multiple standards updates, in order to increase transparency and comparability among organizations by requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The most significant change arising from the new standard is the recognition of right of use assets and lease liabilities for leases classified as operating leases. The right-of-use lease liability for operating leases is based on the net present value of future minimum lease payments. Additionally, the right-of-use asset for operating leases is based on the lease liability adjusted for the reclassification of certain balance sheet amounts such as the long term portion of straight line rent liability and deferred lease incentives. Under the standard, disclosures are required to enable financial statement users to assess the amount, timing, and uncertainty of cash flows arising from the leases. Companies are also required to recognize and measure leases existing at, or entered into after, the adoption date using a modified retrospective approach, with certain practical expedients available. Comparative periods prior to adoption have not been retrospectively adjusted. The Company adopted the standard effective January 1, 2021 using the modified retrospective transition method. Upon adoption, the Company applied the package of practical expedients that allows an entity to not reassess (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases and (iii) initial direct costs for any expired or existing leases. The Company elected the practical expedient not to apply the recognition requirements to short-term leases, defined as a lease that at the commencement date has a lease term of 12 months or less that does not include a purchase option to purchase the underlying asset that the Company is reasonably certain to exercise. Furthermore, the Company has elected the practical expedient to not separate lease and non-lease components by class of underlying asset for its existing leases. As the Company enters into new leases, it will continue to evaluate this accounting policy for any new classes of underlying assets. Upon adoption, the Company recorded ROU assets of $970 and lease liabilities of $1,129. The standard did not have a material impact on the statement of operations or statement of cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes. The new guidance simplifies the accounting for income taxes by removing several exceptions in the current standard and adding guidance to reduce complexity in certain areas, such as requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company adopted this standard as of January 1, 2021 . The adoption did no t have a material impact on the Company’s financial statements.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents and marketable securities. Cash and cash equivalents include a checking account and a money market account held at one financial institution. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company’s marketable debt securities are carried at fair value and include any unrealized gains and losses. Any investments with unrealized losses are considered to be temporarily impaired. The Company’s future results of operations involve a number of risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, rapid technological change, uncertainty of market acceptance of the product, competition from substitute products and larger companies, protection of proprietary technology, any future strategic relationships and dependence on key individuals. Products developed by the Company require clearances from the U.S. Food and Drug Administration or other international regulatory agencies prior to commercial sales. There can be no assurance the Company’s product candidates will receive the necessary clearances. If the Company is denied clearance, clearance is delayed or it is unable to maintain clearance, it could have a materially adverse impact on the Company. In January 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a “Public Health Emergency of International Concern,” which continues to spread throughout the world. The outbreak has adversely impacted global commercial activity and contributed to significant volatility in financial markets. The COVID-19 outbreak and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions. The Company continues to monitor the impact of the COVID-19 outbreak closely.

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Cash Equivalents and Available-for-sale Securities Carrying Amounts and Fair Values	The Company’s financial instruments consist of money market funds, U.S. government debt securities and corporate debt securities. The following tables show the Company’s cash equivalents and available-for-sale securities’ carrying amounts and fair values as of December 31, 2021 and 2020: As of December 31, 2021 Carrying Amount Fair Value Quoted priced in active markets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Financial assets Money market funds $ 40,960 $ 40,960 $ 40,960 $ – $ – Corporate securities 227,362 227,362 – 227,362 – Government securities 42,245 42,245 – 42,245 – Total financial assets $ 310,567 $ 310,567 $ 40,960 $ 269,607 $ – As of December 31, 2020 Carrying Amount Fair Value Quoted priced in active markets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Financial assets Money market funds $ 240,033 $ 240,033 $ 240,033 $ – $ – Corporate securities 120,008 120,008 – 120,008 – Total financial assets $ 360,041 $ 360,041 $ 240,033 $ 120,008 $ –

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Summary of Property and Equipment, Net	December 31, 2021 2020 Machinery & equipment $ 2,261 $ 1,989 Computers 8 8 Furniture & fixtures 9 9 Leasehold improvements 161 73 Assets not placed in service 2,519 51 Total property and equipment 4,958 2,130 Less: Accumulated depreciation (1,868 ) (1,561 ) Property and equipment, net $ 3,090 $ 569

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Payables And Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses consists of the following: December 31, 2021 2020 Accrued compensation $ 3,797 $ 3,109 Accrued research and development costs 4,734 1,595 Other accrued liabilities 96 99 Total $ 8,627 $ 4,803

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Summary of Components of Lease Cost	The components of lease cost for the year ended December 31, 2021 are as follows: (in thousands) Year Ended December 31, 2021 Operating lease cost $ 1,691 Variable lease cost 704 Total lease cost $ 2,395
Schedule of Amounts Reported in Consolidated Balance Sheets for Leases	Amounts reported in the balance sheet for leases where the Company is the lessee as of December 31, 2021 were as follows, in thousands: Operating Leases: Year Ended December 31, 2021 Right-of-use assets, operating leases $ 10,060 Operating lease liabilities, current $ 403 Operating lease liabilities, non-current 10,790 Total operating lease liabilities $ 11,193 Weighted-average remaining lease term (years) 10.02 Weighted-average discount rate 5.75 %
Summary of Other Information Related to Leases	Other information related to leases for the year ended December 31, 2021 is as follows, in thousands: Cash paid for amounts included in the measurement of lease liabilities $ 717 Leased assets obtained in exchange for new operating lease liabilities 10,318
Schedule of Minimum Lease Payments, Net of Reimbursements, under Operating Leases	Future minimum lease payments, net of reimbursements, remaining as of December 31, 2021 under operating leases by fiscal year were as follows, in thousands: Fiscal year 2022 $ (2,609 ) 2023 1,833 2024 1,814 2025 1,869 2026 1,925 Thereafter 11,477 Total minimum lease payments $ 16,309 Less: Amounts representing imputed interest (5,116 ) Present value of lease liabilities $ 11,193

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Schedule of Preferred Stock	As of December Preferred stock authorized Preferred stock issued and outstanding Carrying value Liquidation preference Common stock issuable upon conversion Series Seed Preferred 1,657,903 1,647,102 $ 3,008 $ 3,050 1,647,102 Series A Preferred 8,076,985 8,076,982 30,593 30,734 8,076,982 Series B Preferred 7,672,560 7,672,556 73,627 73,728 7,672,556 Series C Preferred 5,475,978 5,469,606 61,705 61,873 5,469,606 22,883,426 22,866,246 $ 168,933 $ 169,385 22,866,246

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Reserved Shares of Common Stock for Issuance	As of December 31, 2021 and 2020, the Company had reserved shares of common stock for issuance as follows: December 31, 2021 2020 Options issued and outstanding 4,246,007 4,090,970 Shares available for future stock option grants 4,951,680 4,609,725 Shares available for employee stock purchase plan 801,464 400,752 Total 9,999,151 9,101,447

Stock Plan (Tables)

Stock Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Stock Options Activity	The following table summarizes option activity for the year ended December 31, 2021: Options Outstanding Weighted- Average Weighted Remaining Aggregate Shares Number Average Contractual Intrinsic Available of Exercise Life Value for Grant Options Price (in years) (in 000s) Balances, December 31, 2020 4,609,725 4,090,970 $ 3.14 7.13 $ 238,792 Shares reserved for issuance 1,343,334 – Options retired under 2013 Equity Plan (237,542 ) – Options granted (807,180 ) 807,180 $ 29.22 Options forfeited / cancelled 43,343 (43,343 ) $ 6.89 Options exercised – (608,800 ) $ 2.03 Balances, December 31, 2021 4,951,680 4,246,007 $ 8.22 6.86 $ 68,506 At December 31, 2021 Vested and expected to vest 4,246,007 $ 8.22 6.86 $ 68,506 Exercisable 2,668,149 $ 3.48 5.80 $ 52,952
Schedule of Estimated Fair Value of Stock Options	The Company estimated Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.35% - 1.30% 0.31% - 1.51% 1.49% - 2.51% Expected life (in years) 5.50 - 6.44 4.92 - 6.40 5.27 - 6.37 Dividend yield 0% 0% 0% Expected volatility 76.50% - 79.90% 70.70% - 77.60% 72.07% - 72.69%
Stock-based Compensation Expense Related to Options Granted Recorded and Allocated	S tock-based compensation expense recorded under ASC 718 related to options granted was allocated to research and development and general and administrative expense as follows: For the Years Ended December 31, 2021 2020 2019 Research and development $ 1,440 $ 836 $ 302 General and administrative 3,900 1,097 606 Total stock-based compensation $ 5,340 $ 1,933 $ 908
2020 ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Estimated Fair Value of Stock Options	The weighted average assumptions used to estimate the fair value of stock options granted and stock purchase rights under the ESPP are as follows: Year Ended December 31, 2021 Risk-free interest rate 0.04% Expected life (in years) 0.50 Dividend yield 0% Expected volatility 77.83%

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Summary of Income Tax Provision	The income tax provision for the years ended December 31, 2021, 2020, and 2019 are as follows (in thousands): For the Years Ended December 31, 2021 2020 2019 Current: Federal $ - $ - $ - State 23 6 8 Total current 23 6 8 Deferred: Federal $ - $ - $ - State - - - Total deferred - - - Total Provision $ 23 $ 6 $ 8
Summary of Provision for Income Taxes	A reconciliation of income tax computed at the statutory federal income tax rate to the provision for income taxes included in the accompanying statements of operations for the Company is as follows: For the Years Ended December 31, 2021 December 31, 2020 December 31, 2019 Income tax provision at statutory rate 21 % 21 % 21 % State income taxes, net of federal benefit 9 % 8 % 7 % Tax credits 3 % 2 % 1 % Stock compensation 5 % (1 )% 0 % Other (1 )% 0 % 0 % Change in valuation allowance (37 )% (30 )% (29 )% Effective income tax rate 0 % 0 % 0 %
Summary of Deferred Tax Assets and Liabilities	The tax effect of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets As of December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 45,231 $ 27,511 Stock compensation 1,587 748 Research and development credits 4,593 2,414 Accruals and reserves 1,033 830 Operating lease liabilities 3,175 - Total deferred tax assets 55,619 31,503 Valuation allowance (52,728 ) (31,458 ) Deferred tax assets recognized 2,891 45 Deferred tax liabilities: Right-of-use assets (2,854 ) - Fixed assets and depreciation (37 ) (45 ) Total deferred tax liabilities (2,891 ) (45 ) Net deferred tax assets $ - $ -
Summary of Activity Related to Unrecognized Tax Benefits	The following table summarized the activity related to the Company’s unrecognized tax benefits: For the Years Ended December 31, 2021 December 31, 2020 Unrecognized tax benefits, beginning of year $ 877 $ 543 Increases related to prior year tax positions 43 5 Increases related to current year tax positions 734 329 Unrecognized tax benefits, end of year $ 1,654 $ 877

Net Loss per Share (Tables)

Net Loss per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Potentially Dilutive Common Stock Equivalent Excluded from Calculation of Diluted Net Loss per Share	For the Years Ended December 31, 2021 2020 2019 Convertible preferred stock (as converted) – – 22,866,246 Warrants to purchase common stock – – 10,800 Common stock options issued and outstanding 4,246,007 4,090,970 2,767,868 Total 4,246,007 4,090,970 25,644,914
Schedule of Computation of Net Loss per Share	For the Years Ended December 31, 2021 2020 2019 Net loss $ (57,846 ) $ (34,440 ) $ (25,352 ) Weighted-average number of shares - basic and diluted 45,137,656 14,364,475 3,035,243 Net loss per share - basic and diluted $ (1.28 ) $ (2.40 ) $ (8.35 )

Formation and Business of the_2

Formation and Business of the Company - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 25, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization Consolidation And Presentation [Line Items]
Proceeds from issuance of common stock, gross	$ 243,536
Proceeds from issuance of common stock, net	$ 223,176		$ 223,176
Net loss		$ (57,846)	(34,440)	$ (25,352)
Cash used in operating activities		(46,571)	(32,739)	$ (22,065)
Accumulated deficit		(167,726)	$ (109,880)
Cash, cash equivalents, and marketable securities		$ 314,074
Common Stock
Organization Consolidation And Presentation [Line Items]
Number of shares sold			13,529,750
Conversion of convertible preferred stock to common stock, Shares			28,188,110
IPO | Common Stock
Organization Consolidation And Presentation [Line Items]
Number of shares sold	13,529,750
Public offering price per share	$ 18
IPO | Convertible Preferred Stock | Common Stock
Organization Consolidation And Presentation [Line Items]
Conversion of convertible preferred stock to common stock, Shares	28,188,110
Underwriters | Common Stock
Organization Consolidation And Presentation [Line Items]
Option to purchase common stock	1,764,750

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	Sep. 24, 2020	Dec. 31, 2021USD ($)Segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 01, 2021USD ($)
Summary Of Significant Accounting Policies [Line Items]
Reverse stock split description		5.2651-for-1 reverse stock split of the Company’s common stock and convertible preferred stock
Reverse stock split conversion ratio	5.2651
Amortization of available-for-sale debt securities		$ 550	$ 152	$ 62
Restricted cash		$ 822
Property and equipment, Estimated useful lives		five years
Other comprehensive (loss) income related to unrealized (losses) gains on marketable securities, net of tax		$ (78)	$ 3	$ 10
Expected dividend yield		0.00%	0.00%	0.00%
Number of operating segments | Segment		1
Right-of-use assets, operating leases		$ 10,060
Lease liabilities		$ 11,193
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Adoption of accounting standards update [true false]		true
Accounting standards update, adoption date		Jan. 1, 2021
Right-of-use assets, operating leases					$ 970
Lease liabilities					$ 1,129
ASU 2019-12
Summary Of Significant Accounting Policies [Line Items]
Adoption of accounting standards update [true false]		true
Accounting standards update, adoption date		Jan. 1, 2021
Accounting standards update, immaterial effect [true false]		true

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Summary of Cash Equivalents and Available-for-sale Securities Carrying Amounts and Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Quoted Priced in Active Markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	$ 40,960	$ 240,033
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	269,607	120,008
Significant Other Observable Inputs (Level 2) | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	227,362	120,008
Significant Other Observable Inputs (Level 2) | Government Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	42,245
Carrying Amount
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	310,567	360,041
Carrying Amount | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	227,362	120,008
Carrying Amount | Government Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	42,245
Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	310,567	360,041
Fair Value | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	227,362	120,008
Fair Value | Government Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	42,245
Money Market Funds | Quoted Priced in Active Markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	40,960	240,033
Money Market Funds | Carrying Amount
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	40,960	240,033
Money Market Funds | Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	$ 40,960	$ 240,033

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash	$ 3,508,000
Cash equivalents	168,960,000	$ 360,041,000
Marketable Securities	141,607,000	0
Marketable securities noncurrent	16,911,000
Marketable securities current	124,696,000
Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable Securities	99,362,000
Corporate Debt Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	128,000,000	120,008,000
Government Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable Securities	42,245,000
Money Market Funds | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 40,960,000	$ 240,033,000

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Total property and equipment	$ 4,958	$ 2,130
Less: Accumulated depreciation	(1,868)	(1,561)
Property and equipment, net	3,090	569
Machinery & Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	2,261	1,989
Computers
Property Plant And Equipment [Line Items]
Total property and equipment	8	8
Furniture & Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	9	9
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	161	73
Assets Not Placed in Service
Property Plant And Equipment [Line Items]
Total property and equipment	$ 2,519	$ 51

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation	$ 307	$ 318	$ 388

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued compensation	$ 3,797	$ 3,109
Accrued research and development costs	4,734	1,595
Other accrued liabilities	96	99
Total	$ 8,627	$ 4,803

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	1 Months Ended			12 Months Ended
	Apr. 30, 2021	Jan. 31, 2021USD ($)ft²	Aug. 31, 2018ft²Lease$ / ft²	Dec. 31, 2021USD ($)$ / ft²	Dec. 31, 2020USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2017ft²$ / ft²	Jun. 30, 2015ft²$ / ft²
Commitments And Contingencies Disclosure [Line Items]
Number of noncancelable operating leases | Lease			2
Operating lease, payments				$ 717,000
Rent expense				1,691,000	$ 561,000
Purchase commitments				$ 0
Cranbury, New Jersey
Commitments And Contingencies Disclosure [Line Items]
Area of operating lease property | ft²							6,000	13,000
Initial base rent per square foot | $ / ft²							22	20
Operating lease expiration period				2022-06
Operating lease maintenance expense per square foot | $ / ft²				3
Operating lease, description				Both leases include a common area maintenance expense for $3.00 per square foot with an increase of 3% on the first month of each calendar year during the lease term and a management fee of 3% of the base rent.
Management fee of base rent percentage				3.00%
South Brunswick, New Jersey
Commitments And Contingencies Disclosure [Line Items]
Area of operating lease property | ft²			6,000
Initial base rent per square foot | $ / ft²			15.50
Operating lease expiration period			2022-07
Management fee of base rent percentage			3.00%
Operating lease renewal term description			with an option to renew on a month-to-month basis, with an increase in base rent as per the lease, for up to an additional year
Lexington, Massachusetts
Commitments And Contingencies Disclosure [Line Items]
Initial base rent per square foot | $ / ft²			28.50
Operating lease expiration period			2023-08
Operating lease, renewal term			3 years
Initial base rent increased per square foot | $ / ft²			1
Allowance on behalf of lessor for construction of office space.						$ 165,000
Remaining rent incentives				$ 64,000
Sublease expiration period				2023-08
Princeton, New Jersey
Commitments And Contingencies Disclosure [Line Items]
Operating lease, description				That lease term extends through 2032, has a five-year extension option, and is intended to replace our two existing facilities and the space is expected to become the Company’s future headquarters
Lease area of square feet | ft²		50,581
Operating Leases, extended year		2032
Operating leases, extension period		5 years
Operating lease, payments		$ 19,600,000
Operating leases extended month and year		2032-05
Tenant improvement allowance		$ 4,100,000
Sublease with tenant office space starting period	2021-04
Sublease with tenant office space ending period	2021-07
Sublease income				$ 116,000

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Components of Lease Cost (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Leases [Abstract]
Operating lease cost	$ 1,691
Variable lease cost	704
Total lease cost	$ 2,395

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Amounts Reported in Consolidated Balance Sheets for Leases (Details) $ in Thousands	Dec. 31, 2021USD ($)
Operating Leases:
Right-of-use assets, operating leases	$ 10,060
Operating lease liability, current	403
Operating lease liability, noncurrent	10,790
Total operating lease liabilities	$ 11,193
Weighted-average remaining lease term (years)	10 years 7 days
Weighted-average discount rate	5.75%

Commitments and Contingencies_4

Commitments and Contingencies - Summary of Other Information Related to Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 717
Leased assets obtained in exchange for new operating lease liabilities	$ 10,318

Commitments and Contingencies_5

Commitments and Contingencies - Schedule of Minimum Lease Payments, Net of Reimbursements, under Operating Leases (Details) $ in Thousands	Dec. 31, 2021USD ($)
Commitments And Contingencies Disclosure [Abstract]
2022	$ (2,609)
2023	1,833
2024	1,814
2025	1,869
2026	1,925
Thereafter	11,477
Total minimum lease payments	16,309
Less: Amounts representing imputed interest	(5,116)
Lease liabilities	$ 11,193

Convertible Preferred Stock - A

Convertible Preferred Stock - Additional Information (Details)	Sep. 25, 2020$ / sharesshares	Jul. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2021USD ($)Member$ / shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018shares
Temporary Equity [Line Items]
Convertible preferred stock, shares authorized					22,883,426
Convertible preferred stock, par value per share | $ / shares					$ 0.00001
Preferred stock, shares issued					22,866,246
Preferred stock, shares outstanding					22,866,246
Proceeds from issuance of convertible preferred stock | $				$ 69,790,000	$ 61,705,000
Dividends, preferred stock declared | $					$ 0
Number of members of board of directors elected by holders of preferred stock voting as single class | Member			4
Number of members of board of directors elected by holders of common stock voting as single class | Member			2
Convertible preferred stock, terms of conversion			Each share of Preferred Stock automatically converts to the number of shares of common stock determined in accordance with the conversion rate upon the earlier of (i) written consent of two-thirds of the then outstanding shares of Preferred Stock, voting together as a single class, and written consent of the majority of the then outstanding shares of Series C Preferred or (ii) the closing of a public offering, in which the gross cash proceeds are at least $40,000 and the initial offering price to the public is at least $11.3121 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations, reorganizations, reclassifications or the like).
Minimum
Temporary Equity [Line Items]
Gross cash proceeds from public offering | $			$ 40,000,000
Initial Offering Price to the Public | Minimum
Temporary Equity [Line Items]
Offering price per share | $ / shares			$ 11.3121
Common Stock
Temporary Equity [Line Items]
Conversion of convertible preferred stock to common stock, Shares				28,188,110
Common Stock | Initial Offering Price to the Public
Temporary Equity [Line Items]
Offering price per share | $ / shares	$ 18
Series Seed Preferred
Temporary Equity [Line Items]
Convertible preferred stock, shares authorized					1,657,903
Preferred stock, shares issued					1,647,102
Preferred stock, shares outstanding					1,647,102
Preferred shares liquidation preference per share | $ / shares			1.8517
Convertible preferred stock conversion price | $ / shares					$ 1.8517
Series A Preferred
Temporary Equity [Line Items]
Convertible preferred stock, shares authorized					8,076,985
Preferred stock, shares issued					8,076,982
Preferred stock, shares outstanding					8,076,982
Preferred shares liquidation preference per share | $ / shares			3.7266
Convertible preferred stock conversion price | $ / shares					$ 3.7266
Series B Preferred
Temporary Equity [Line Items]
Convertible preferred stock, shares authorized					7,672,560
Preferred stock, shares issued					7,672,556
Preferred stock, shares outstanding					7,672,556
Preferred shares liquidation preference per share | $ / shares			9.6093
Convertible preferred stock conversion price | $ / shares					$ 9.6093
Series C Convertible Preferred Stock
Temporary Equity [Line Items]
Convertible preferred stock, shares authorized					5,475,978
Preferred stock, shares issued					5,469,606
Preferred stock, shares outstanding					5,469,606
Issuance of convertible preferred stock, Shares					5,469,606
Preferred shares liquidation preference per share | $ / shares			$ 11.3121
Convertible preferred stock conversion price | $ / shares					$ 11.3121
Series D Convertible Preferred Stock
Temporary Equity [Line Items]
Issuance of convertible preferred stock, Shares		5,321,864
Shares issued price per share | $ / shares		$ 13.1533
Proceeds from issuance of convertible preferred stock | $		$ 70,000,000
Convertible Preferred Stock
Temporary Equity [Line Items]
Preferred stock, shares outstanding					22,866,246	17,396,640
Convertible Preferred Stock | Common Stock | Initial Offering Price to the Public
Temporary Equity [Line Items]
Conversion of convertible preferred stock to common stock, Shares	28,188,110

Convertible Preferred Stock - S

Convertible Preferred Stock - Schedule of Preferred Stock (Details) $ in Thousands	Dec. 31, 2019USD ($)shares
Temporary Equity [Line Items]
Preferred stock authorized	22,883,426
Preferred stock issued	22,866,246
Preferred Stock Outstanding	22,866,246
Carrying value | $	$ 168,933
Liquidation preference | $	$ 169,385
Common stock issuable upon conversion	22,866,246
Series Seed Preferred
Temporary Equity [Line Items]
Preferred stock authorized	1,657,903
Preferred stock issued	1,647,102
Preferred Stock Outstanding	1,647,102
Carrying value | $	$ 3,008
Liquidation preference | $	$ 3,050
Common stock issuable upon conversion	1,647,102
Series A Preferred
Temporary Equity [Line Items]
Preferred stock authorized	8,076,985
Preferred stock issued	8,076,982
Preferred Stock Outstanding	8,076,982
Carrying value | $	$ 30,593
Liquidation preference | $	$ 30,734
Common stock issuable upon conversion	8,076,982
Series B Preferred
Temporary Equity [Line Items]
Preferred stock authorized	7,672,560
Preferred stock issued	7,672,556
Preferred Stock Outstanding	7,672,556
Carrying value | $	$ 73,627
Liquidation preference | $	$ 73,728
Common stock issuable upon conversion	7,672,556
Series C Convertible Preferred Stock
Temporary Equity [Line Items]
Preferred stock authorized	5,475,978
Preferred stock issued	5,469,606
Preferred Stock Outstanding	5,469,606
Carrying value | $	$ 61,705
Liquidation preference | $	$ 61,873
Common stock issuable upon conversion	5,469,606

Common Stock - Additional Infor

Common Stock - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.00001	$ 0.00001
Common stock, shares issued	45,433,684	44,777,818
Common stock, shares outstanding	45,433,684	44,777,818
Dividends, common stock declared	$ 0

Common Stock - Schedule of Rese

Common Stock - Schedule of Reserved Shares of Common Stock for Issuance (Details) - shares	Dec. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Reserved shares of common stock for issuance	9,999,151	9,101,447
Shares available for future stock option grants	4,951,680	4,609,725
Shares available for employee stock purchase plan	801,464	400,752
Options Issued and Outstanding
Class Of Stock [Line Items]
Reserved shares of common stock for issuance	4,246,007	4,090,970

Stock Plan - Additional Informa

Stock Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 19, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2022	Sep. 24, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares reserved for issuance		9,999,151	9,101,447
Total compensation cost related to nonvested awards not yet recognized		$ 15,708
Weighted-average period over nonvested awards expected to be recognized		3 years 1 month 6 days
Expected dividend yield		0.00%	0.00%	0.00%
2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares reserved for issuance						4,406,374
Number of additional shares reserved for issuance, minimum						4,406,374
Percentage of number of shares of common stock outstanding increase						5.00%
Shares issued		4,951,680
2020 Plan | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of additional shares reserved for issuance, maximum					1,363,084
2020 ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares reserved for issuance		801,464				400,752
Percentage of number of shares of common stock outstanding increase						1.00%
Number of additional shares reserved for issuance, maximum						801,504
Shares issued		47,066
Employees exercised their right to purchase shares	10,480
Shares outstanding		47,066
Expected dividend yield		0.00%
2020 ESPP | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares reserved for issuance					0
2013 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised		$ 18,534	$ 245
Stock options granted at grant-date fair value		$ 20.03	$ 3.34

Stock Plan - Schedule of Stock

Stock Plan - Schedule of Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Shares Available For Grant
Shares Available for Grant, Balance	4,609,725
Shares Available for Grant, Shares reserved for issuance	1,343,334
Shares Available for Grant, Options granted	(807,180)
Shares Available for Grant, Options forfeited / cancelled	43,343
Shares Available for Grant, Balance	4,951,680	4,609,725
Number of Options
Options	4,090,970
Options granted, Number of Options	807,180
Options forfeited / cancelled, Number of Options	(43,343)
Options exercised, Number of Options	(608,800)
Options Outstanding, Number of Options	4,246,007	4,090,970
Vested and expected to vest, Number of Options	4,246,007
Exercisable, Number of Options	2,668,149
Weighted Average Exercise Price
Options Outstanding, Weighted Average Exercise Price	$ 3.14
Options granted, Weighted Average Exercise Price	29.22
Options forfeited / cancelled, Weighted Average Exercise Price	6.89
Options exercised, Weighted Average Exercise Price	2.03
Options Outstanding, Weighted Average Exercise Price	8.22	$ 3.14
Vested and expected to vest, Weighted Average Exercise Price	8.22
Exercisable, Weighted Average Exercise Price	$ 3.48
Weighted-Average Remaining Contractual Life
Options Outstanding, Weighted-Average Remaining Contractual Life	6 years 10 months 9 days	7 years 1 month 17 days
Vested and expected to vest, Weighted-Average Remaining Contractual Life	6 years 10 months 9 days
Exercisable, Weighted-Average Remaining Contractual Life	5 years 9 months 18 days
Aggregate Intrinsic Value
Options Outstanding, Aggregate Intrinsic Value	$ 68,506	$ 238,792
Vested and expected to vest, Aggregate Intrinsic Value	68,506
Exercisable, Aggregate Intrinsic Value	$ 52,952
2013 Stock Plan
Shares Available For Grant
Shares Available for Grant, Options retired	(237,542)

Stock Plan - Schedule of Estima

Stock Plan - Schedule of Estimated Fair Value of Stock Options Using Black-Scholes Options Valuation Model (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, minimum	0.35%	0.31%	1.49%
Risk-free interest rate, maximum	1.30%	1.51%	2.51%
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum	76.50%	70.70%	72.07%
Expected volatility, maximum	79.90%	77.60%	72.69%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	5 years 6 months	4 years 11 months 1 day	5 years 3 months 7 days
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	6 years 5 months 8 days	6 years 4 months 24 days	6 years 4 months 13 days

Stock Plan - Summary of Weighte

Stock Plan - Summary of Weighted Average Assumptions Used to Estimate Fair Value of Stock Options Granted and Stock Purchase Rights Under ESPP (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
2020 ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.04%
Expected life (in years)	6 months
Dividend yield	0.00%
Expected volatility	77.83%

Stock Plan - Stock-based Compen

Stock Plan - Stock-based Compensation Expense Related to Options Granted Recorded and Allocated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 5,340	$ 1,933	$ 908
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	1,440	836	302
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 3,900	$ 1,097	$ 606

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
State	$ 23	$ 6	$ 8
Total current	23	6	8
Deferred:
Total Provision	$ 23	$ 6	$ 8

Income Taxes - Summary of Provi

Income Taxes - Summary of Provision for Income Taxes (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision at statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	9.00%	8.00%	7.00%
Tax credits	3.00%	2.00%	1.00%
Stock compensation	5.00%	(1.00%)	0.00%
Other	(1.00%)	0.00%	0.00%
Change in valuation allowance	(37.00%)	(30.00%)	(29.00%)
Effective income tax rate	0.00%	0.00%	0.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Federal statutory income tax rate	21.00%	21.00%	21.00%
Net operating loss carryforwards begin to expire in 2033	$ 27,515,000
Net operating loss carryforwards, do not expire amount	$ 132,371,000
Net operating loss carryforward, description	Net operating loss carryforwards related to tax years after 2017 of $132,371 do not expire.
Interest or penalties accrued	$ 0	$ 0
Unrecognized tax benefits	$ 1,654,000	877,000	$ 543,000
Open tax year	2013 2014 2015 2016 2017 2018 2019 2020 2021
Federal
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 159,886,000	97,665,000
Operating loss carryforwards expiration year	2033
Tax credit carryforward, expiration	2034
Income tax examination period	3 years
Federal | Research and Development Tax Credits
Income Tax Contingency [Line Items]
Credit carryforward, amount	$ 6,588,000	3,470,000
State
Income Tax Contingency [Line Items]
Operating loss carryforwards expiration year	2033
Income tax examination period	4 years
State | New Jersey
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 154,972,000	92,805,000
Tax credit carryforward, expiration	2022
State | California
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 4,912,000	4,912,000
Tax credit carryforward, expiration	2022
State | Lexington, Massachusetts
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 4,640,000	$ 950,000

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 45,231	$ 27,511
Stock compensation	1,587	748
Research and development credits	4,593	2,414
Accruals and reserves	1,033	830
Operating lease liabilities	3,175
Total deferred tax assets	55,619	31,503
Valuation allowance	(52,728)	(31,458)
Deferred tax assets recognized	2,891	45
Deferred tax liabilities:
Right-of-use assets	(2,854)
Fixed assets and depreciation	(37)	(45)
Total deferred tax liabilities	$ (2,891)	$ (45)

Income Taxes - Summary of Activ

Income Taxes - Summary of Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, beginning of year	$ 877	$ 543
Increases related to prior year tax positions	43	5
Increases related to current year tax positions	734	329
Unrecognized tax benefits, end of year	$ 1,654	$ 877

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalent Excluded from Calculation of Diluted Net Loss per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	4,246,007	4,090,970	25,644,914
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities			22,866,246
Warrants to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities			10,800
Common Stock Options Issued and Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	4,246,007	4,090,970	2,767,868

Net Loss per Share - Schedule_2

Net Loss per Share - Schedule of Computation of Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net loss	$ (57,846)	$ (34,440)	$ (25,352)
Weighted-average number of shares - basic and diluted	45,137,656	14,364,475	3,035,243
Net loss per share - basic and diluted	$ (1.28)	$ (2.40)	$ (8.35)

Related Parties - Additional In

Related Parties - Additional Information (Details)	1 Months Ended	12 Months Ended
	May 31, 2021Membershares	Dec. 31, 2021USD ($)Membershares	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Options awarded | shares		807,180
Board of Directors
Related Party Transaction [Line Items]
Number of consulting agreement members | Member	2	2
Consulting fees		$ 110,000	$ 112,000
Amount owed to related party		0	0
Options awarded | shares	5,781
Investor
Related Party Transaction [Line Items]
Consulting fees			$ 65,000
Amount owed to related party		0
Amount paid to related party		$ 0