Surface Oncology (SURF) 10-Q 2 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38459
Entity Registrant Name	SURFACE ONCOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5543980
Entity Address, Address Line One	50 Hampshire Street
Entity Address, Address Line Two	8th Floor
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02139
City Area Code	617
Local Phone Number	714-4096
Title of 12(b) Security	Common stock, $0.0001
Trading Symbol	SURF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,824,474
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001718108
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 14,842	$ 50,910
Marketable securities	41,416	73,913
Prepaid expenses and other current assets	4,330	4,317
Total current assets	60,588	129,140
Property and equipment, net	2,499	4,866
Operating lease right-of-use asset	2,919	24,307
Restricted cash	0	1,595
Other assets	0	2
Total assets	66,006	159,910
Current liabilities:
Accounts payable	609	256
Accrued expenses and other current liabilities	6,731	10,214
Operating lease liability	9,488	5,790
Total current liabilities	16,828	16,260
Operating lease liability, non-current	0	24,662
Convertible note payable, non-current	0	25,585
Total liabilities	16,828	66,507
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value per share; 5,000,000 shares authorized    at June 30, 2023 and December 31, 2022; no shares    issued and outstanding at June 30, 2023 and December 31, 2022	0	0
Common stock, $0.0001 par value; 150,000,000 shares    authorized at June 30, 2023 and December 31, 2022, respectively;    60,730,274 and 60,578,956 shares issued and outstanding at June 30, 2023    and December 31, 2022, respectively	6	6
Additional paid-in capital	301,655	298,741
Accumulated other comprehensive loss	(221)	(1,015)
Accumulated deficit	(252,262)	(204,329)
Total stockholders’ equity	49,178	93,403
Total liabilities and stockholders’ equity	$ 66,006	$ 159,910

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	60,730,274	60,578,956
Common stock, outstanding (in shares)	60,730,274	60,578,956

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
License-related revenue	$ 0	$ 0	$ 0	$ 30,000
Operating expenses:
Research and development	13,831	18,198	27,608	34,822
General and administrative	8,576	6,426	14,460	12,967
Restructuring charges	3,234	0	3,234	0
Total operating expenses	25,641	24,624	45,302	47,789
Loss from operations	(25,641)	(24,624)	(45,302)	(17,789)
Interest expense	(3,108)	(733)	(4,040)	(1,415)
Other income (expense), net	557	144	1,409	190
Net loss	$ (28,192)	$ (25,213)	$ (47,933)	$ (19,014)
Net loss per share — basic (in dollars per share)	$ (0.46)	$ (0.46)	$ (0.79)	$ (0.37)
Net loss per share — diluted (in dollars per share)	$ (0.46)	$ (0.46)	$ (0.79)	$ (0.37)
Weighted average common shares outstanding— basic (in shares)	60,717,899	54,654,822	60,673,195	51,647,148
Weighted average common shares outstanding— diluted (in shares)	60,717,899	54,654,822	60,673,195	51,647,148
Comprehensive loss:
Net loss	$ (28,192)	$ (25,213)	$ (47,933)	$ (19,014)
Other comprehensive loss:
Unrealized gain (loss) on marketable securities, net of tax of $0	348	(259)	794	(949)
Comprehensive loss	$ (27,844)	$ (25,472)	$ (47,139)	$ (19,963)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Marketable securities tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021		46,958,776
Beginning balance at Dec. 31, 2021	$ 118,900	$ 5	$ 259,859	$ (221)	$ (140,743)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		208
Issuance of common stock upon exercise    of stock options	0		0
Issuance of common stock under stock purchase plan (in shares)		51,329
Issuance of common stock under stock purchase plan	157		157
Issuance of common stock upon public offering, net of issuance costs (in shares)		7,337,251
Issuance of common stock upon public offering, net of issuance costs	20,556	$ 1	20,555
Stock-based compensation expense	1,865		1,865
Unrealized gain (loss) on marketable securities	(690)			(690)
Net income (loss)	6,199				6,199
Ending balance (in shares) at Mar. 31, 2022		54,347,564
Ending balance at Mar. 31, 2022	146,987	$ 6	282,436	(911)	(134,544)
Beginning balance (in shares) at Dec. 31, 2021		46,958,776
Beginning balance at Dec. 31, 2021	118,900	$ 5	259,859	(221)	(140,743)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on marketable securities	(949)
Net income (loss)	(19,014)
Ending balance (in shares) at Jun. 30, 2022		55,384,868
Ending balance at Jun. 30, 2022	125,716	$ 6	286,637	(1,170)	(159,757)
Beginning balance (in shares) at Mar. 31, 2022		54,347,564
Beginning balance at Mar. 31, 2022	146,987	$ 6	282,436	(911)	(134,544)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		9,135
Issuance of common stock upon exercise    of stock options	11		11
Issuance of common stock under stock purchase plan (in shares)		2,234
Issuance of common stock under stock purchase plan	7		7
Issuance of common stock upon public offering, net of issuance costs (in shares)		1,025,935
Issuance of common stock upon public offering, net of issuance costs	2,110	$ 0	2,110
Stock-based compensation expense	2,073		2,073
Unrealized gain (loss) on marketable securities	(259)			(259)
Net income (loss)	(25,213)				(25,213)
Ending balance (in shares) at Jun. 30, 2022		55,384,868
Ending balance at Jun. 30, 2022	$ 125,716	$ 6	286,637	(1,170)	(159,757)
Beginning balance (in shares) at Dec. 31, 2022	60,578,956	60,578,956
Beginning balance at Dec. 31, 2022	$ 93,403	$ 6	298,741	(1,015)	(204,329)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock purchase plan (in shares)		137,917
Issuance of common stock under stock purchase plan	77		77
Stock-based compensation expense	1,646		1,646
Unrealized gain (loss) on marketable securities	446			446
Net income (loss)	(19,741)				(19,741)
Ending balance (in shares) at Mar. 31, 2023		60,716,873
Ending balance at Mar. 31, 2023	$ 75,831	$ 6	300,464	(569)	(224,070)
Beginning balance (in shares) at Dec. 31, 2022	60,578,956	60,578,956
Beginning balance at Dec. 31, 2022	$ 93,403	$ 6	298,741	(1,015)	(204,329)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on marketable securities	794
Net income (loss)	$ (47,933)
Ending balance (in shares) at Jun. 30, 2023	60,730,274	60,730,274
Ending balance at Jun. 30, 2023	$ 49,178	$ 6	301,655	(221)	(252,262)
Beginning balance (in shares) at Mar. 31, 2023		60,716,873
Beginning balance at Mar. 31, 2023	75,831	$ 6	300,464	(569)	(224,070)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock purchase plan (in shares)		13,401
Issuance of common stock under stock purchase plan	5		5
Stock-based compensation expense	1,186		1,186
Unrealized gain (loss) on marketable securities	348			348
Net income (loss)	$ (28,192)				(28,192)
Ending balance (in shares) at Jun. 30, 2023	60,730,274	60,730,274
Ending balance at Jun. 30, 2023	$ 49,178	$ 6	$ 301,655	$ (221)	$ (252,262)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (47,933)	$ (19,014)
Adjustments to reconcile net loss to net cash provided by (used in)    operating activities:
Depreciation and amortization expense	2,307	691
Stock-based compensation expense	2,832	3,938
Non-cash interest expense related to note payable	2,665	296
Net amortization of premiums and discounts on marketable securities	(211)	276
Gain on disposal of property and equipment	(29)	0
Non-cash operating lease cost	1,911	1,172
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(13)	(1,660)
Other assets	2	157
Accounts payable	353	(1,128)
Accrued expenses and other current liabilities	(3,397)	(2,395)
Operating lease liability	(1,487)	(1,304)
Net cash used in operating activities	(43,000)	(18,971)
Cash flows from investing activities:
Purchases of property and equipment	0	(146)
Proceeds from sales of property and equipment	3	0
Purchases of marketable securities	(35,568)	(15,690)
Proceeds from sales or maturities of marketable securities	69,070	30,745
Net cash provided by investing activities	33,505	14,909
Cash flows from financing activities:
Payments made on convertible note payable	(28,250)	0
Proceeds from issuance of common stock upon public offering, net	0	22,666
Proceeds from employee stock purchases	77	164
Proceeds from exercise of stock options	5	11
Net cash provided by (used in) financing activities	(28,168)	22,841
Net increase (decrease) in cash and cash equivalents and restricted cash	(37,663)	18,779
Cash and cash equivalents and restricted cash at beginning of period	52,505	57,640
Cash and cash equivalents and restricted cash at end of period	14,842	76,419
Supplemental disclosure of cash flow information:
Cash paid for interest	1,666	1,097
Supplemental disclosure of non-cash investing and financing activities:
Re-measurement of right-of-use asset and related lease liability	(19,477)	755
Purchases of property and equipment included in accounts payable and accrued expenses	$ 0	$ 92

Nature of the Business

Nature of the Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Nature of the Business Surface Oncology, Inc. (the “Company” or “Surface”) is a clinical-stage immuno-oncology company focused on using its specialized knowledge of the biological pathways critical to the immunosuppressive tumor microenvironment (“TME”) for the development of next-generation cancer therapies. Surface was incorporated in April 2014 under the laws of the State of Delaware. The Company is subject to risks common to early-stage companies in the biotechnology industry including, but not limited to, development by competitors of new technological innovations, protection of proprietary technology, dependence on key personnel, compliance with government regulations and the ability to obtain additional financing to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel infrastructure and extensive compliance-reporting capabilities. Even if the Company’s development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. On August 5, 2021, the Company entered into an amendment to its existing Capital on Demand™ Sales Agreement (the “Amended Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”), to allow the issuance and sale of up to $80,000 in gross proceeds, from time to time during the term of the Amended Sales Agreement, through an “at-the-market” equity offering program under which JonesTrading will act as the Company’s sales agent (the “2021 ATM Facility”). The 2021 ATM Facility provides that JonesTrading will continue to be entitled to compensation for its services in an amount of up to 3.0% of the gross proceeds of any shares sold under the 2021 ATM Facility. The Company has no obligation to sell any shares under the Amended Sales Agreement and may, at any time, suspend solicitation and offers under the 2021 ATM Facility. In the three and six months ended June 30, 2023, the Company did not sell shares of common stock, at-the-market under the Amended Sales Agreement. In the three and six months ended June 30, 2022, the Company sold 1,025,935 and 8,363,186 shares of common stock at-the-market under the Amended Sales Agreement for net proceeds of $2,110 and $22,666. Since August 5, 2021, the Company has sold 14,611,756 shares of common stock at-the-market under the Amended Sales Agreement for net proceeds of $41,421. Proposed Transaction with Coherus BioSciences, Inc. On June 15, 2023, the Company, entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among Coherus BioSciences, Inc., a Delaware corporation (“Parent” or “Coherus”), Crimson Merger Sub I, Inc., a Delaware corporation and wholly owned subsidiary of Parent (“Merger Sub I”) and Crimson Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of Parent (“Merger Sub II” and together with Merger Sub I, the “Merger Subs”). Pursuant to the Merger Agreement, and subject to the terms and conditions set forth therein, Merger Sub I will merge with and into the Company (the “First Merger”), with the Company surviving such First Merger as a wholly owned subsidiary of Parent, and, as part of the same overall transaction, promptly after the First Merger, the surviving entity of the First Merger will merge with and into Merger Sub II (the “Second Merger” and together with the First Merger, the “Mergers”), with Merger Sub II surviving the Second Merger (the “Surviving Entity”). Under the Merger Agreement, at the effective time of the First Merger (the “Effective Time”), each share of common stock, $0.0001 par value per share, of the Company (the “Company Common Stock”) issued and outstanding immediately prior to the Effective Time (other than treasury shares, any shares of Company Common Stock held directly by Parent or Merger Subs immediately prior to the Effective Time and shares of Company Common Stock issued and outstanding immediately prior to the Effective Time and held by any holder who properly demands appraisal for such shares in accordance with Section 262 of the Delaware General Corporation Law) will be converted automatically into and shall thereafter represent the right to receive consideration per share consisting of: • a number of shares of common stock, par value $0.0001 per share, of Parent (the “Parent Common Stock”) equal to the exchange ratio (the “Exchange Ratio”) determined by dividing (x) the quotient obtained by dividing (1) $40,000,000 plus Company’s net cash as of the closing of the Mergers (the “Closing”), as calculated in accordance with the Merger Agreement, by (2) $5.2831 (the “Parent Stock Price”), by (y) the total number of shares of Company Common Stock outstanding immediately prior to the Effective Time, on a fully-diluted and as-converted basis as determined in accordance with the Merger Agreement (the “Upfront Consideration”), plus any cash payable in lieu of a fractional share of Parent Common Stock; and • one contingent value right (a “CVR”) representing the right to receive the CVR Payment Amount (as defined in the Merger Agreement), as provided for in the CVR Agreement (as defined in the Merger Agreement) (collectively, with the Upfront Consideration, the “Merger Consideration”). At the Effective Time, each option (a “Company Stock Option”) to purchase Company Common Stock granted under Company’s equity incentive plans that is outstanding immediately prior to the Effective Time shall be converted, assumed or cancelled as follows: • each Company Stock Option with an exercise price per share that is less than the value of the Upfront Consideration (an “In-the-Money Option”) shall be cancelled and converted into the right to receive: a. a number of shares of Parent Common Stock, subject to certain exceptions for fractional shares and applicable withholdings, equal to the quotient of (x) the product of (1) the total number of shares of vested and unvested Company Common Stock underlying the In-the-Money Option multiplied by (2) the excess of the value of the Upfront Consideration over the exercise price of such In-the-Money Option, divided by (y) the Parent Stock Price; and b. a number of CVRs equal to the vested and unvested shares of Company Common Stock underlying the In-the-Money Option; • each Company Stock Option held by a Company employee who continues employment with Parent and its affiliates after the Effective Time (a “Covered Employee”) and with an exercise price that is equal to or greater than the value of the Upfront Consideration (each, an “Underwater Option”) shall be assumed by Parent and converted into an option to acquire shares of Parent Common Stock (an “Assumed Option”), and with the same vesting schedule and other terms and conditions applicable to such Assumed Option immediately prior to the Effective Time, except that (i) each Assumed Option shall become exercisable for a number of shares of Parent Common Stock equal to the product (rounded down to the next whole number of shares) of (x) the number of shares of Company Common Stock that would have been issuable upon full exercise of such Assumed Option immediately prior to the Effective Time multiplied by (y) the Exchange Ratio, and (ii) the per share exercise price for such Assumed Option shall equal the quotient (rounded up to the next whole cent) obtained by dividing the exercise price per share of the Company Common Stock as of immediately prior to the Effective Time by the Exchange Ratio; and • each Underwater Option held by a Company employee who is not a Covered Employee shall be cancelled, and the holder of such Underwater Option shall receive no Merger Consideration with respect to such Underwater Option. At the Effective Time, each Company restricted stock unit award (a “Company RSU Award”), whether vested or unvested, that is outstanding immediately prior to the Effective Time shall automatically be converted into the right to receive the Merger Consideration in respect of each share of Company Common Stock subject to such Company RSU Award, subject to certain exceptions for fractional shares and applicable withholdings. Each CVR entitles the holder thereof to receive contingent payments, without interest, and subject to deduction for any required tax withholding, if applicable, equal to (i) the dollar amount of the Net CVR Payments (as defined below) received during the 10-year period following the Closing (the “CVR Term”) divided by (ii) the total number of outstanding CVRs (the “CVR Payment Amount”). For each fiscal quarter during the CVR Term (each, a “CVR Payment Period”), the “Net CVR Payments” shall equal the sum of the following, less any permitted deductions (as set forth in the CVR Agreement). • 70% of all milestone- and royalty-based payments actually received by Parent, the Surviving Entity or their affiliates from GlaxoSmithKline Intellectual Property (No. 4) Limited under the License Agreement, dated December 16, 2020, between Company and GlaxoSmithKline Intellectual Property (No. 4) Limited; • 70% of all milestone- and royalty-based payments actually received by Parent, the Surviving Entity or their affiliates from Novartis Institute for Biomedical Research, Inc. under the collaboration agreement, dated January 9, 2016, between Company and Novartis Institute for Biomedical Research, Inc.; • 25% of any upfront payment actually received by Parent, the Surviving Entity or their affiliates under an agreement entered into by the Parent, the Surviving Entity or their affiliates after the Closing granting a third party development, manufacture or commercialization rights for the Company’s SRF114 proprietary drug product candidate in any market outside of the United States, less development costs and expenses incurred by Parent, the Surviving Entity or their affiliates after the Closing for the development of SRF114; and • 50% of any upfront payment actually received by Parent, the Surviving Entity or their affiliates under an agreement entered into by Parent, the Surviving Entity or their affiliates after the Closing granting a third party development, manufacture or commercialization rights for the Company’s SRF388 proprietary drug product candidate in any market outside of the United States, less development costs and expenses incurred by Parent, the Surviving Entity or their affiliates after the Closing for the development of SRF388. The obligations of the Company and Parent to consummate the Mergers and the other transactions contemplated by the Merger Agreement are subject to the satisfaction or waiver of certain conditions, including: (i) the Company’s net cash being no less than $19,600 as of the date of determination; (ii) the adoption of the Merger Agreement by holders of at least a majority of the Company Common Stock outstanding; (iii) Parent’s Registration Statement on Form S-4 to be filed in connection with the Mergers having become effective and not subject to any stop order, and the shares of Parent Common Stock issuable in the Mergers having been approved for listing on the Nasdaq; (iv) execution of the CVR Agreement by Parent and the Rights Agent; and (v) other customary conditions for a transaction of this type, such as the absence of any legal restraint prohibiting the consummation of the Mergers and the absence of any material adverse effect for the Company or Parent. The parties have also made certain representations, warranties and covenants in the Merger Agreement, including covenants to conduct their respective businesses in the ordinary course in all material respects between the signing of the Merger Agreement and the Closing, prohibiting the parties from engaging in certain kinds of activities during such period without the consent of the other party and the use of commercially reasonable efforts to cause the conditions of the Mergers to be satisfied. In connection with the announcement of the Mergers, and on June 15, 2023, the Company was required under the terms of that certain Loan and Security Agreement (the “Loan Agreement”), dated November 22, 2019, as amended on October 1, 2021 and September 21, 2022, by and among K2 HealthVentures, LLC and Ankura Trust Company, LLC (collectively, the “Secured Parties”) and the Company, to pay in full all outstanding loan obligations due to the Secured Parties which is further described in Note 8. In addition, on June 15, 2023, the Company entered into a Lease Termination Agreement (the “Termination Agreement”) with BMR-Hampshire LLC (the “Landlord”) pursuant to which the parties agreed to terminate that certain Lease (the “Lease”) relating to the Company’s corporate headquarters at 50 Hampshire Street in Cambridge, MA (the “Premises”). As consideration for the Company entering into the Termination Agreement, the Company agreed to pay $10,000 to the Landlord which is further described in Note 11. Concurrent with the signing of the Merger Agreement, the Company announced a reduction in force as part of its cost savings efforts that resulted in the termination of approximately 50% of the Company’s remaining workforce (the “June Reduction in Force”). In connection with the June Reduction in Force, the affected employees will be provided severance benefits, including cash severance payments, acceleration of outstanding equity awards to the extent the Closing occurs within six months of such termination, and COBRA continuation or reimbursement, pursuant to each affected employee’s employment agreement with the Company or any applicable severance policy. Each affected employee’s eligibility for these severance benefits is contingent upon such employee’s entering into an effective separation agreement, which includes a general release of claims against the Company (the “Release Requirement”). The Company’s financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. The Company has primarily funded its operations with proceeds from private and public sales of its securities, proceeds from a collaboration agreement with Novartis, proceeds from a license agreement with GlaxoSmithKline Intellectual Property (No. 4) Limited (“GSK”) and issuance of a debt facility with K2 Health Ventures LLC (“K2HV”). The Company has a history of incurring losses and negative cash flows from operations. As of June 30, 2023, the Company had an accumulated deficit of $252,262. As of August 2, 2023, the issuance date of this Quarterly Report on Form 10-Q, the Company expects that its operating losses and negative cash flows from operations will continue for the foreseeable future. In addition, the Company’s repayment in full of the Loan Agreement and entering into the Lease Termination Agreement negatively impacted the Company’s liquidity. In accordance with the requirements of ASC 205-40, management has concluded these factors raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date these financial statements are issued.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiary, Surface Securities Corporation, a Massachusetts corporation, after elimination of all intercompany accounts and transactions. The accounting policies followed in the preparation of the interim condensed consolidated financial statements are consistent in all material respects with those presented in Note 2 to the financial statements included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 9, 2023, as amended by the Form 10-K/A filed with the SEC on May 1, 2023. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, revenue recognition and the accrual of research and development expenses. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from the Company’s estimates. Unaudited Interim Financial Information The accompanying condensed consolidated financial statements are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of June 30, 2023 and the results of its operations and its cash flows for the three and six months ended June 30, 2023 and 2022. The financial data and other information disclosed in these notes related to the three and six months ended June 30, 2023 and 2022 are also unaudited. The condensed balance sheet at December 31, 2022, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results for the three and six months ended June 30, 2023 are not necessarily indicative of results to be expected for the year ending December 31, 2023, any other interim periods, or any future year period. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss model. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes may result in earlier recognition of credit losses. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which narrowed the scope and changed the effective date for non-public entities for ASU 2016-13. The FASB subsequently issued supplemental guidance within ASU No. 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief (“ASU 2019-05”). ASU 2019-05 provides an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. This standard became effective for the Company on January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company's financial position or results of operations. Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Marketable Securities As of June 30, 2023, the fair value of available-for-sale marketable debt securities by type of security was as follows: June 30, 2023 Amortized Gross Gross Fair Marketable debt securities: U.S. Treasury notes $ 13,433 $ — (43) $ 13,390 U.S. government agency bonds 11,167 — (75) 11,092 Corporate bonds $ 17,037 $ — $ (103) $ 16,934 $ 41,637 $ — $ (221) $ 41,416 The amortized cost and fair value of the Company’s available-for-sale debt securities by contractual maturity are summarized as follows: June 30, 2023 Amortized Fair Maturing in one year or less $ 39,271 $ 39,065 Maturing after one year 2,366 2,351 $ 41,637 $ 41,416 As of December 31, 2022, the fair value of available-for-sale marketable debt securities by type of security was as follows: December 31, 2022 Amortized Gross Gross Fair Marketable debt securities: U.S. Treasury notes $ 50,080 $ 1 (714) $ 49,367 U.S. government agency bonds 10,957 — (184) 10,773 Corporate bonds $ 13,891 $ — $ (118) $ 13,773 $ 74,928 $ 1 $ (1,016) $ 73,913 The amortized cost and fair value of the Company’s available-for-sale debt securities by contractual maturity are summarized as follows: December 31, 2022 Amortized Fair Maturing in one year or less $ 73,446 $ 72,453 Maturing after one year 1,482 1,460 $ 74,928 $ 73,913 The cost of securities sold is determined based on the specific identification method for purposes of recording realized gains and losses. During the six months ended June 30, 2023 the Company recorded $110 of realized losses on sales of marketable securities. During the six month ended June 30, 2022, there were no realized losses on sales of marketable securities. The Company has the intent and ability to hold such marketable securities until recovery and has determined that there has been no material change to their credit risk. As a result, the Company determined it did not hold any investments with a credit loss at June 30, 2023.

Fair Value of Financial Assets

Fair Value of Financial Assets	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets	Fair Value of Financial Assets The following tables present information about the Company’s financial assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values: Fair Value Measurements as of June 30, 2023 using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 6,736 $ — $ — $ 6,736 Marketable securities: U.S. Treasury notes — 13,390 — 13,390 U.S. government agency bonds — 11,092 — 11,092 Corporate bonds — 16,934 — 16,934 $ 6,736 $ 41,416 $ — $ 48,152 Fair Value Measurements as of December 31, 2022 using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 31,189 $ — $ — $ 31,189 Marketable securities: U.S. Treasury notes — 49,367 — 49,367 U.S. Government agency bonds — 10,773 — 10,773 Corporate bonds — 13,773 — 13,773 $ 31,189 $ 73,913 $ — $ 105,102 As of June 30, 2023 and December 31, 2022, the Company’s cash equivalents were invested in money market funds and were valued based on Level 1 inputs. The Company’s investments in U.S. Treasury notes, U.S. government agency bonds and corporate bonds were valued based on Level 2 inputs. Money market funds were valued by the Company based on quoted market prices, which represent a Level 1 measurement within the fair value hierarchy. U.S. treasury notes, U.S. government agency bonds and corporate bonds were valued by obtaining third-party pricing sources, which use quoted prices in active markets for similar securities or other inputs that are observable or can be corroborated by observable market data. These represent a Level 2 measurement within the fair value hierarchy. During the six months ended June 30, 2023 and 2022, there were no transfers between Level 1, Level 2 and Level 3.

Collaboration and License Agree

Collaboration and License Agreements	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration and License Agreements	Collaboration and License Agreements Novartis Agreement In January 2016, the Company entered into a collaboration agreement with Novartis, which was subsequently amended in May 2016, July 2017, September 2017, and October 2018 (as amended, the “Novartis Agreement”). Pursuant to the Novartis Agreement, the Company granted Novartis a worldwide exclusive license to research, develop, manufacture and commercialize antibodies that target cluster of differentiation 73 (“CD73”). In addition, the Company initially granted Novartis the right to purchase exclusive option rights (each an “Option”) for up to four specified targets (each an “Option Target”) including certain development, manufacturing, and commercialization rights, pursuant to which, Novartis initially had the right to exercise up to three purchased Options. Accordingly, Novartis had the ability to exclusively license the development, manufacturing and commercial rights for up to four targets (inclusive of CD73). As of June 30, 2023, the Company had received an aggregate of $150,000 from Novartis in upfront payments, milestone payments, and option purchase payments. As of January 2020, there were no Options remaining for purchase and exercise, and accordingly the Company’s performance obligations under the Novartis Agreement ended. Under the Novartis Agreement, the Company is currently entitled to potential development milestones of $325,000 and sales milestones of $200,000, as well as tiered royalties on annual net sales by Novartis ranging from high single-digit to mid-teens percentages upon the successful commercialization of NZV930 (formerly SRF373). Due to the uncertainty of pharmaceutical development and the historical failure rates generally associated with drug development, the Company may not receive any milestone payments or any royalty payments under the Novartis Agreement. The Company did not recognize any revenue relating to the Novartis Agreement during the three and six months ended June 30, 2023 and 2022 as it does not have any remaining performance obligations under the agreement. Termination Unless terminated earlier, the Novartis Agreement will continue in effect until neither the Company nor Novartis is researching, developing, manufacturing or commercializing NZV930. Novartis may terminate the Novartis Agreement for any or no reason upon prior notice to the Company within a specified time period. Either party may terminate the Novartis Agreement in full if an undisputed material breach is not cured within a certain period of time or upon notice of insolvency of the other party. To the extent Novartis terminates for convenience, or the Company terminates for Novartis’ uncured material breach, Novartis will grant the Company, on mutually agreeable financial terms, an exclusive, worldwide, irrevocable, perpetual and royalty-bearing license with respect to intellectual property controlled by Novartis that is reasonably necessary to research, develop, manufacture or commercialize NZV930. GSK Agreement In December 2020, the Company entered into a license agreement with GSK, which was subsequently amended in August 2021 (as amended, the “GSK Agreement”). Pursuant to the GSK Agreement, the Company granted GSK a worldwide exclusive, sublicensable license to develop, manufacture and commercialize antibodies that target the antibody GSK4381562 (formerly SRF813), targeting CD112R, also known as PVRIG (the “Licensed Antibodies”). GSK is responsible for the development, manufacturing and commercialization of the Licensed Antibodies and a joint development committee was formed to facilitate information sharing between the Company and GSK. GSK is responsible for all costs and expenses of such development, manufacturing and commercialization and is obligated to provide the Company with updates on its development, manufacturing and commercialization activities through the joint development committee. Under the terms of the GSK Agreement, GSK made a one-time upfront payment of $85,000 and was required to make additional payments to the Company for supply services and transition services initially estimated to be $4,314 and $950, respectively. In November 2021, GSK notified the Company it received clearance from the U.S. Food and Drug Administration (‘FDA”) for GSK4381562 to proceed into a first-in-human clinical trial, and as a result, the Company’s performance obligations under the GSK Agreement ended. In March 2022, the Company earned a $30,000 milestone payment from GSK upon the dosing of the first patient in the Phase 1 trial of GSK4381562. The Company is eligible to receive up to $60,000 in additional clinical milestones and $155,000 in regulatory milestones. In addition, the Company may receive up to $485,000 in sales milestone payments. The Company is also eligible to receive royalties on global net sales of any approved products based on the licensed antibodies, ranging in percentages from high single digits to mid-teens. Due to the uncertainty of pharmaceutical development and the historical failure rates generally associated with drug development, the Company may not receive any milestone payments or any royalty payments under the GSK Agreement. In March 2022, GSK notified the Company it had dosed the first patient in its Phase 1 study of GSK4381562 in patients with solid tumors. As a result of this Phase 1 study initiation, the first clinical milestone under the GSK Agreement was achieved. The Company concluded the variable consideration associated with this milestone was no longer constrained and recognized $30,000 in license-related revenue for the six months ended June 30, 2022, as it had no further performance obligations associated with the milestone. The Company did not recognize license-related revenue under the GSK Agreement during the three months ended June 30, 2022. The Company did not recognize license-related revenue under the GSK Agreement during the three and six months ended June 30, 2023. Termination Unless terminated earlier, the GSK Agreement expires on a licensed product-by-licensed product and country-by-country basis on the later of ten years from the date of first commercial sale or when there is no longer a valid patent claim or regulatory exclusivity covering such licensed product in such country. Either party may terminate the GSK Agreement for an uncured material breach by the other party or upon the bankruptcy or insolvency of the other party. GSK may terminate the GSK Agreement for its convenience. The Company may terminate the GSK Agreement if GSK institutes certain actions related to the licensed patents or if GSK ceases development activities, other than for certain specified technical or safety reasons. In the event of termination, the Company would regain worldwide rights to the terminated program. License-Related Revenue For the three and six months ended June 30, 2023 and 2022 , the Company recognized the following totals of license-related revenue: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 License-related revenue $ — $ — $ — $ 30,000

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Common Stock As of June 30, 2023 and December 31, 2022, the Company’s certificate of incorporation, as amended and restated, authorized the Company to issue 150,000,000 shares of $0.0001 par value common stock. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the board of directors, if any, subject to the preferential dividend rights of any outstanding preferred stock. No dividends have been declared or paid by the Company through June 30, 2023. As of June 30, 2023 and December 31, 2022, the Company had reserved 24,307,486 and 23,936,163 shares, respectively, of common stock for the exercise of outstanding stock options, shares to be issued under the 2021 ATM Facility, shares to be issued upon the vesting of restricted stock units and the number of shares remaining available for future grant under the Company’s 2018 Plan, Inducement Plan and ESPP (each defined in Note 7 below).

Stock-Based Awards

Stock-Based Awards	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Awards	Stock-Based Awards 2014 Stock Incentive Plan The Company’s 2014 Stock Incentive Plan (the “2014 Plan”) provided for the Company to grant incentive stock options or nonqualified stock options, restricted stock awards, unrestricted stock awards or restricted stock units to employees, directors and consultants of the Company. The 2014 Plan is administered by the board of directors, or at the discretion of the board of directors, by a committee of the board of directors. The exercise prices, vesting and other restrictions were determined at the discretion of the board of directors, or their committee if so delegated, except that the exercise price per share of the stock options could not be less than 100% of the fair market value of a share of the Company’s common stock on the date of grant and the term of the stock options could not be greater than ten years. As of December 31, 2018, all remaining shares available under the 2014 Plan were transferred to the Company’s 2018 Stock Option and Incentive Plan (the “2018 Plan”). 2018 Stock Option and Incentive Plan In April 2018, the Company’s 2018 Plan was approved by its stockholders and became effective. The 2018 Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock units, restricted stock awards, unrestricted stock awards, cash-based awards and dividend equivalent rights to the Company’s officers, employees, non-employee directors and other key persons (including consultants). The number of shares initially reserved for issuance under the 2018 Plan was 1,545,454, plus the shares of common stock remaining available for issuance under the 2014 Plan, the reserved shares shall be cumulatively increased each January 1 by 4% of the number of shares of the Company’s common stock outstanding on the immediately preceding December 31 or such lesser number of shares determined by the Company’s board of directors or compensation committee of the board of directors. The shares of common stock underlying any awards that are forfeited, cancelled, held back upon exercise or settlement of an award to satisfy the exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of stock, expire or are otherwise terminated (other than by exercise) under the 2018 Plan and the 2014 Plan will be added back to the shares of common stock available for issuance under the 2018 Plan. As of June 30, 2023, 1,457,618 shares were available for future issuance under the 2018 Plan. Stock options granted under the 2014 Plan and 2018 Plan to employees generally vest over three years and expire after ten years. Stock Options The following table summarizes the Company’s stock option activity since December 31, 2022: Number of Weighted Weighted Aggregate (in years) Outstanding as of December 31, 2022 8,233,330 $ 5.74 6.68 $ 159 Granted 3,068,900 0.69 Exercised (13,401) 0.35 Forfeited (1,189,831) 2.65 Outstanding as of June 30, 2023 10,098,998 $ 4.58 6.95 $ 604 Options exercisable at June 30, 2023 6,305,828 $ 5.78 5.66 $ 188 Vested and expected to vest at June 30, 2023 10,098,998 $ 4.58 6.95 $ 604 Concurrent with the June Reduction in Force, 1,062,115 stock options were forfeited upon employee termination. The affected employees were provided severance benefits, including acceleration of outstanding equity awards to the extent the Closing occurs within six months of such termination, pursuant to each affected employee’s employment agreement with the Company. Pursuant to the terms of the Merger Agreement, at the Effective Time, each In-the-Money Option, will be converted into the right to receive a number of shares of Parent Common Stock equal to the Exchange Ratio and a number of CVRs equal to the vested and unvested shares of Company Common Stock underlying the In-the-Money Option. Each Underwater Option held by a Company employee who is not a Covered Employee will be cancelled. This modification to the terms of their awards was accounted for as a Type IV modification as it was improbable-to-improbable that the forfeited awards would vest, which would result in a new modification date fair value. If the Closing occurs within six months of such termination, compensation expense will be recorded upon the Closing equal to the modification date fair value of the award. The weighted average grant-date fair value per share of stock options granted during the six months ended June 30, 2023 and year ended December 31, 2022 was $0.50 and $2.28, respectively. As of June 30, 2023 and December 31, 2022, there were outstanding stock options held by non-employees for the purchase of 247,169 and 260,570 shares of common stock, respectively, with service-based vesting conditions. 2018 Employee Stock Purchase Plan In April 2018, the Company’s 2018 Employee Stock Purchase Plan (the “ESPP”) was approved by its stockholders and became effective. A total of 256,818 shares of common stock were initially reserved for issuance under this plan. In addition, the number of shares of common stock that may be issued under the ESPP automatically increased on January 1, 2019, and shall increase each January 1 thereafter through January 1, 2028, by the lesser of (i) 1% of the number of shares of the Company’s common stock outstanding on the immediately preceding December 31 and (ii) such lesser number of shares as determined by the administrator of the Company’s ESPP. As of June 30, 2023, a total of 1,873,627 shares of common stock were reserved for issuance under this plan. For the six months ended June 30, 2023, the Company issued 137,917 shares of common stock under the ESPP. The Company did not issue shares of common stock under the ESPP during the three months ended June 30, 2023. For the three and six months ended June 30, 2022, the Company issued 2,234 and 53,563 shares of common stock under the ESPP, respectively. 2021 Inducement Plan In December 2021, the Company adopted the Company’s 2021 Inducement Plan (the “Inducement Plan”) pursuant to which the Company reserved 600,000 shares of common stock to be used exclusively for grants of equity-based awards to individuals who were not previously employees or directors of the Company, as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the Marketplace Rules of the Nasdaq Stock Market, Inc. The Inducement Plan provides for the grant of equity-based awards in the form of nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, unrestricted stock awards, and dividend equivalent rights. The Inducement Plan was adopted by the Company without stockholder approval pursuant to Rule 5635(c)(4) of the Marketplace Rules of the Nasdaq Stock Market, Inc. The following table summarizes the Company’s stock option under the Inducement Plan activity since December 31, 2022: Number of Weighted Weighted Aggregate (in years) Outstanding as of December 31, 2022 210,400 $ 2.61 9.36 $ — Granted — — Exercised — — Forfeited (9,113) 3.12 Outstanding as of June 30, 2023 201,287 $ 2.59 8.87 $ — Options exercisable at June 30, 2023 41,457 $ 3.26 8.72 $ — Vested and expected to vest at June 30, 2023 201,287 $ 2.59 8.87 $ — The Company did not grant stock options under the Inducement Plan during the three and six months ended June 30, 2023. The weighted average grant-date fair value per share of stock options granted during the six months ended June 30, 2022 was $1.99. As of June 30, 2023, 398,713 shares were available for future issuance under the Inducement Plan. Restricted Stock Units The Company has granted restricted stock units (“RSUs”) with service-based vesting conditions. RSUs represent the right to receive shares of common stock upon meeting specified vesting requirements. Unvested shares of restricted common stock units may not be sold or transferred by the holder. These restrictions lapse according to the service-based vesting conditions of each award. In 2022, the Company granted 732,000 RSUs to employees. 40% of each employee grant vested in August 2022 and the remaining 60% will vest in August 2023, as long as the applicable individual remains an employee of the Company at such time. The table below summarizes the Company’s RSU activity since December 31, 2022: Number of Weighted Unvested restricted stock units as of December 31, 2022 385,980 $ 3.64 Granted — — Vested — — Forfeited (107,100) 3.64 Unvested restricted stock units as of June 30, 2023 278,880 $ 3.64 Concurrent with the June Reduction in Force, 103,920 RSUs were forfeited upon employee termination. The affected employees were provided severance benefits, including acceleration of outstanding equity awards to the extent the Closing occurs within six months of such termination, pursuant to each affected employee’s employment agreement with the Company. Pursuant to the terms of the Merger Agreement, at the Effective Time, each Company RSU Award, whether vested or unvested, that is outstanding immediately prior to the Effective Time will automatically be converted into the right to receive the Merger Consideration in respect of each share of Company Common Stock subject to such Company RSU Award, subject to certain exceptions for fractional shares and applicable withholdings. This modification to the terms of their awards was accounted for as a Type IV modification as it was improbable-to-improbable that the forfeited awards would vest, which would result in a new modification date fair value. If the Closing occurs within six months of such termination, compensation expense will be recorded upon the Closing equal to the Merger Consideration. The Company recorded an immaterial amount of expense related to RSUs during the three months ended June 30, 2023. The expense related to RSUs granted to employees was $341 during the six months ended June 30, 2023, and $610 and $819 for the three and six months ended June 30, 2022, respectively. Stock-Based Compensation The Company recorded stock-based compensation expense related to stock options, ESPP and restricted stock unit awards in the following expense categories of its condensed consolidated statements of operations and comprehensive loss: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Research and development expenses $ 371 $ 777 $ 1,017 $ 1,360 General and administrative expenses 815 1,296 1,815 2,578 $ 1,186 $ 2,073 $ 2,832 $ 3,938

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt On November 22, 2019, the Company entered into a loan and security agreement (the “Loan Agreement”) with K2HV (the “Lender”), as amended on October 1, 2021 and September 21, 2022. In connection with the announcement of the Mergers, on June 15, 2023, the Company paid in full all outstanding loan obligations due to the Secured Parties. Pursuant to the payoff letter, dated June 15, 2023, between the Company and the Secured Parties, the Loan Agreement terminated on June 16, 2023, when the Company paid in full all outstanding loan obligations of $25,000 due to the Secured Parties, along with $3,250 in fees and expenses pertaining to the termination of the Loan Agreement. At such time, all liens securing the Company’s obligations under the Loan Agreement were released.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share Basic and diluted net loss per share attributable to common stockholders was calculated as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Basic and diluted net loss per share: Numerator: Net loss $ (28,192) $ (25,213) $ (47,933) $ (19,014) Denominator: Weighted average commons shares outstanding — basic and diluted 60,717,899 54,654,822 60,673,195 51,647,148 Net loss per share — basic and diluted $ (0.46) $ (0.46) $ (0.79) $ (0.37) The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share for the three and six months ended June 30, 2023, as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect: June 30, 2023 2022 Stock options to purchase common stock 10,300,285 8,968,131 Shares to be issued under the 2018 ESPP 1,873,627 1,500,500 RSUs issued and expected to vest 278,880 711,000 Shares available from conversion of note payable — 832,677 12,452,792 12,012,308

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company did not provide for any income taxes for the three and six months ended June 30, 2023 or 2022. The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. Management has considered the Company’s history of cumulative net losses incurred since inception and its lack of commercialization of any products or generation of any revenue from product sales since inception and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred tax assets. Accordingly, a full valuation allowance has been established against the deferred tax assets as of June 30, 2023 and December 31, 2022. Management reevaluates the positive and negative evidence at each reporting period. As of June 30, 2023 and December 31, 2022, the Company had no accrued interest or tax penalties recorded. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. The Company’s tax years are still open under statute from 2019 to present. All years may be examined to the extent the tax credit or net operating loss carryforwards are used in future periods. There are currently no federal or state audits.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases Termination of BMR-Hampshire Lease In connection with the announcement of the Mergers, on June 15, 2023, the Company entered into the Termination Agreement with the Landlord pursuant to which the parties agreed to terminate, as of September 15, 2023, as such date may be extended by the Company or accelerated by the Landlord subject to the terms of the Termination Agreement (such date, the “Termination Date”), the Lease, by and between the Landlord and the Company, relating to the Premises. The original scheduled termination date of the Lease was March 31, 2030. As consideration for the Company entering into the Termination Agreement, the Company agreed to pay $10,000 to the Landlord, with approximately $1,595 due upon execution of the Termination Agreement, and $8,405 being due on or before the Termination Date, subject to the terms and conditions of the Termination Agreement. The Company will have no further rent obligations to the Landlord pursuant to the Lease after the Termination Date. As a result of the lease termination, the Company reduced the remaining lease payments by approximately $30,700.The Termination Agreement was accounted for as a lease modification in the three months ended June 30, 2023 and reduced the right-of-use asset and lease liability by approximately $19,500. The lease continues to qualify as an operating lease. Sublease Agreement with EQRx, Inc. In May 2022, the Company entered into the second amendment to the Sublease Agreement (as amended, the “Sublease Amendment ” ). The Sublease Amendment extended the term of the sublease for a period of 18 months, with an option to extend the sublease for a further six months upon the expiration of the Sublease Amendment. The Sublease Amendment has been accounted for as a single-modified contract. The Company determined the Sublease Amendment would continue to be accounted for as an operating lease. Consistent with the Company’s policy election for lessor operating leases, each lease component and its associated non-lease components is accounted for as a single lease component. Concurrent with the Termination Agreement, the Sublease Agreement, as amended, terminates on the Termination Date. In the three and six months ended June 30, 2023 and 2022, the Company recognized sublease income of $647 and $1,290, and $648 and $1,304, respectively. As of June 30, 2023, future undiscounted cash inflows under the sublease are as follows: Year Ending December 31, 2023 $ 636 $ 636

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company is not currently party to any material legal proceedings. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company expenses as incurred the costs related to its legal proceedings.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Novartis Institutes for BioMedical Research, Inc. Novartis is a related party because it is a greater than 5% stockholder of the Company. In January 2016, the Company entered into the Novartis Agreement and sold 2,000,000 shares of its Series A-1 Preferred Stock to Novartis for gross proceeds of $13,500. In addition, concurrent with the Company’s initial public offering of common stock, the Company issued Novartis 766,666 shares of its common stock at $15.00 per share, for proceeds of $11,500 in a private placement.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring On June 15, 2023, the Company’s Board of Directors approved the Merger Agreement. Concurrent with the signing of the Merger Agreement, the Company announced the June Reduction in Force. In connection with the June Reduction in Force, the affected employees were provided severance benefits, including cash severance payments, acceleration of outstanding equity awards to the extent the Closing occurs within six months of such termination, and COBRA continuation or reimbursement, pursuant to each affected employee’s employment agreement. During the three and six months ended June 30, 2023, the Company recorded $3,234 of restructuring charges consisting of $2,301 of employee severance and related costs and $933 of facility costs related to accelerated depreciation on laboratory equipment and computer equipment that is no longer required and will be disposed of. The accrued restructuring liability of $2,301 is payable within the next two months and has been included as accrued restructuring costs in current liabilities in the consolidated balance sheet. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the Merger Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiary, Surface Securities Corporation, a Massachusetts corporation, after elimination of all intercompany accounts and transactions. The accounting policies followed in the preparation of the interim condensed consolidated financial statements are consistent in all material respects with those presented in Note 2 to the financial statements included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 9, 2023, as amended by the Form 10-K/A filed with the SEC on May 1, 2023.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, revenue recognition and the accrual of research and development expenses. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from the Company’s estimates.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying condensed consolidated financial statements are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of June 30, 2023 and the results of its operations and its cash flows for the three and six months ended June 30, 2023 and 2022. The financial data and other information disclosed in these notes related to the three and six months ended June 30, 2023 and 2022 are also unaudited. The condensed balance sheet at December 31, 2022, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results for the three and six months ended June 30, 2023 are not necessarily indicative of results to be expected for the year ending December 31, 2023, any other interim periods, or any future year period.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss model. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes may result in earlier recognition of credit losses. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which narrowed the scope and changed the effective date for non-public entities for ASU 2016-13. The FASB subsequently issued supplemental guidance within ASU No. 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief (“ASU 2019-05”). ASU 2019-05 provides an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. This standard became effective for the Company on January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company's financial position or results of operations. Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Fair Value of Available-for-sale Marketable Debt Securities by Type of Security	As of June 30, 2023, the fair value of available-for-sale marketable debt securities by type of security was as follows: June 30, 2023 Amortized Gross Gross Fair Marketable debt securities: U.S. Treasury notes $ 13,433 $ — (43) $ 13,390 U.S. government agency bonds 11,167 — (75) 11,092 Corporate bonds $ 17,037 $ — $ (103) $ 16,934 $ 41,637 $ — $ (221) $ 41,416 As of December 31, 2022, the fair value of available-for-sale marketable debt securities by type of security was as follows: December 31, 2022 Amortized Gross Gross Fair Marketable debt securities: U.S. Treasury notes $ 50,080 $ 1 (714) $ 49,367 U.S. government agency bonds 10,957 — (184) 10,773 Corporate bonds $ 13,891 $ — $ (118) $ 13,773 $ 74,928 $ 1 $ (1,016) $ 73,913
Summary of Available-for-sale Debt Securities by Contractual Maturity	The amortized cost and fair value of the Company’s available-for-sale debt securities by contractual maturity are summarized as follows: June 30, 2023 Amortized Fair Maturing in one year or less $ 39,271 $ 39,065 Maturing after one year 2,366 2,351 $ 41,637 $ 41,416 The amortized cost and fair value of the Company’s available-for-sale debt securities by contractual maturity are summarized as follows: December 31, 2022 Amortized Fair Maturing in one year or less $ 73,446 $ 72,453 Maturing after one year 1,482 1,460 $ 74,928 $ 73,913

Fair Value of Financial Assets

Fair Value of Financial Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following tables present information about the Company’s financial assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values: Fair Value Measurements as of June 30, 2023 using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 6,736 $ — $ — $ 6,736 Marketable securities: U.S. Treasury notes — 13,390 — 13,390 U.S. government agency bonds — 11,092 — 11,092 Corporate bonds — 16,934 — 16,934 $ 6,736 $ 41,416 $ — $ 48,152 Fair Value Measurements as of December 31, 2022 using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 31,189 $ — $ — $ 31,189 Marketable securities: U.S. Treasury notes — 49,367 — 49,367 U.S. Government agency bonds — 10,773 — 10,773 Corporate bonds — 13,773 — 13,773 $ 31,189 $ 73,913 $ — $ 105,102

Collaboration and License Agr_2

Collaboration and License Agreements (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Collaboration Revenue	For the three and six months ended June 30, 2023 and 2022 , the Company recognized the following totals of license-related revenue: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 License-related revenue $ — $ — $ — $ 30,000

Stock-Based Awards (Tables)

Stock-Based Awards (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity since December 31, 2022: Number of Weighted Weighted Aggregate (in years) Outstanding as of December 31, 2022 8,233,330 $ 5.74 6.68 $ 159 Granted 3,068,900 0.69 Exercised (13,401) 0.35 Forfeited (1,189,831) 2.65 Outstanding as of June 30, 2023 10,098,998 $ 4.58 6.95 $ 604 Options exercisable at June 30, 2023 6,305,828 $ 5.78 5.66 $ 188 Vested and expected to vest at June 30, 2023 10,098,998 $ 4.58 6.95 $ 604 The following table summarizes the Company’s stock option under the Inducement Plan activity since December 31, 2022: Number of Weighted Weighted Aggregate (in years) Outstanding as of December 31, 2022 210,400 $ 2.61 9.36 $ — Granted — — Exercised — — Forfeited (9,113) 3.12 Outstanding as of June 30, 2023 201,287 $ 2.59 8.87 $ — Options exercisable at June 30, 2023 41,457 $ 3.26 8.72 $ — Vested and expected to vest at June 30, 2023 201,287 $ 2.59 8.87 $ —
Summary of Restricted Stock Unit Activity	The table below summarizes the Company’s RSU activity since December 31, 2022: Number of Weighted Unvested restricted stock units as of December 31, 2022 385,980 $ 3.64 Granted — — Vested — — Forfeited (107,100) 3.64 Unvested restricted stock units as of June 30, 2023 278,880 $ 3.64
Summary of Stock-Based Compensation Expense Related to Stock Options and Restricted Stock Awards	The Company recorded stock-based compensation expense related to stock options, ESPP and restricted stock unit awards in the following expense categories of its condensed consolidated statements of operations and comprehensive loss: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Research and development expenses $ 371 $ 777 $ 1,017 $ 1,360 General and administrative expenses 815 1,296 1,815 2,578 $ 1,186 $ 2,073 $ 2,832 $ 3,938

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	Basic and diluted net loss per share attributable to common stockholders was calculated as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Basic and diluted net loss per share: Numerator: Net loss $ (28,192) $ (25,213) $ (47,933) $ (19,014) Denominator: Weighted average commons shares outstanding — basic and diluted 60,717,899 54,654,822 60,673,195 51,647,148 Net loss per share — basic and diluted $ (0.46) $ (0.46) $ (0.79) $ (0.37)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect: June 30, 2023 2022 Stock options to purchase common stock 10,300,285 8,968,131 Shares to be issued under the 2018 ESPP 1,873,627 1,500,500 RSUs issued and expected to vest 278,880 711,000 Shares available from conversion of note payable — 832,677 12,452,792 12,012,308

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Future Undiscounted Cash Inflows Under Sublease	As of June 30, 2023, future undiscounted cash inflows under the sublease are as follows: Year Ending December 31, 2023 $ 636 $ 636

Nature of the Business - Additi

Nature of the Business - Additional Information (Details) - USD ($)				3 Months Ended			6 Months Ended		23 Months Ended
	Sep. 15, 2023	Jun. 15, 2023	Aug. 05, 2021	Sep. 15, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001			$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001
Exchange ratio, quotient numerator		$ 40,000,000
Share price (in dollars per share)		$ 5.2831
Period following the closing		10 years
Minimum cash amount		$ 19,600,000
Termination agreement lease amount		$ 1,595,000
Accumulated deficit					$ 252,262,000		$ 252,262,000		$ 252,262,000	$ 204,329,000
June Reduction In Force
Class of Stock [Line Items]
Restructuring workforce reduced percentage		50%
Forecast
Class of Stock [Line Items]
Termination agreement lease amount	$ 8,405,000			$ 10,000,000
SRF114
Class of Stock [Line Items]
Upfront payment percentage		25%
SRF388
Class of Stock [Line Items]
Upfront payment percentage		50%
GSK Agreement
Class of Stock [Line Items]
Milestone and royalty-based payment percentage		70%
Novartis Collaboration
Class of Stock [Line Items]
Milestone and royalty-based payment percentage		70%
2021 ATM Facility
Class of Stock [Line Items]
Number of shares issued (in shares)					0	1,025,935	0	8,363,186	14,611,756
Net proceeds from issuance of common stock						$ 2,110,000		$ 22,666,000	$ 41,421,000
2021 ATM Facility | Maximum
Class of Stock [Line Items]
Gross proceeds from issuance of common stock			$ 80,000,000
Percentage of gross proceeds of shares sold for compensation (as a percent)			3%

Marketable Securities - Summary

Marketable Securities - Summary of Fair Value of Available-for-sale Marketable Debt Securities by Type of Security (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 41,637	$ 74,928
Gross Unrealized Gains	0	1
Gross Unrealized Losses	(221)	(1,016)
Fair Value	41,416	73,913
U.S. Treasury notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	13,433	50,080
Gross Unrealized Gains	0	1
Gross Unrealized Losses	(43)	(714)
Fair Value	13,390	49,367
U.S. government agency bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	11,167	10,957
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(75)	(184)
Fair Value	11,092	10,773
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	17,037	13,891
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(103)	(118)
Fair Value	$ 16,934	$ 13,773

Marketable Securities - Summa_2

Marketable Securities - Summary of Fair Value of Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Amortized Cost
Maturing in one year or less	$ 39,271	$ 73,446
Maturing after one year	2,366	1,482
Amortized Cost	41,637	74,928
Fair Value
Maturing in one year or less	39,065	72,453
Maturing after one year	2,351	1,460
Fair Value	$ 41,416	$ 73,913

Marketable Securities - Additio

Marketable Securities - Additional Information (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($) security	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) security
Investments, Debt and Equity Securities [Abstract]
Loss on realized sale	$ 110,000	$ 0
Number of positions, less then 12 months | security	15		20
Aggregate fair value, securities, less than 12 months	$ 27,552,000		$ 34,079,000
Number of positions, 12 months or longer | security	7		18
Aggregate fair value, securities, 12 months or longer	$ 13,863,000		$ 36,857,000
Investments in other-than-temporary decline in fair value	$ 0		$ 0

Fair Value of Financial Asset_2

Fair Value of Financial Assets - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 41,416	$ 73,913
U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	13,390	49,367
U.S. government agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	11,092	10,773
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	16,934	13,773
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured on recurring basis	48,152	105,102
Fair Value, Measurements, Recurring | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	13,390	49,367
Fair Value, Measurements, Recurring | U.S. government agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	11,092	10,773
Fair Value, Measurements, Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	16,934	13,773
Fair Value, Measurements, Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,736	31,189
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured on recurring basis	6,736	31,189
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. government agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,736	31,189
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured on recurring basis	41,416	73,913
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	13,390	49,367
Fair Value, Measurements, Recurring | Level 2 | U.S. government agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	11,092	10,773
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	16,934	13,773
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured on recurring basis	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. government agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Collaboration and License Agr_3

Collaboration and License Agreements - Additional Information (Details)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2022 USD ($)	Jan. 31, 2016 target	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Aug. 31, 2021 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License related revenue			$ 0	$ 0	$ 0	$ 30,000,000
Novartis Collaboration
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of option targets | target		4
Number of option targets purchased | target		3
Upfront, milestone, and option purchase payments, aggregate amount			150,000,000		150,000,000
Novartis Collaboration | Novartis Institutes for Biomedical Research, Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue			0	0	0	0
Novartis Collaboration | Novartis Institutes for Biomedical Research, Inc. | Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestones payment					325,000,000
Novartis Collaboration | Novartis Institutes for Biomedical Research, Inc. | Sales Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestones payment					$ 200,000,000
GSK Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Termination period					10 years
GSK Agreement | License
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License related revenue	$ 30,000,000		$ 0	$ 0	$ 0	$ 30,000,000
GSK Agreement | License | Transferred at Point in Time
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment							$ 85,000,000
GSK Agreement | License | Transferred over Time
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Additional payments to be received							4,314,000
GSK Agreement | Transition Services | Transferred over Time
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Additional payments to be received							$ 950,000
GSK Agreement | Clinical Milestone Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestones payment					60,000,000
GSK Agreement | Regulatory Milestone Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestones payment					155,000,000
GSK Agreement | Sales Milestone Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestones payment					$ 485,000,000

Collaboration and License Agr_4

Collaboration and License Agreements - Schedule of Collaboration Revenue (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License-related revenue		$ 0	$ 0	$ 0	$ 30,000,000
GSK Agreement | License
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License-related revenue	$ 30,000,000	$ 0	$ 0	$ 0	$ 30,000,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details)		3 Months Ended		6 Months Ended		23 Months Ended
	Aug. 05, 2021 USD ($)	Jun. 30, 2023 $ / shares shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2023 USD ($) vote $ / shares shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 15, 2023 $ / shares	Dec. 31, 2022 $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Common stock, authorized (in shares)		150,000,000		150,000,000		150,000,000		150,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001
Number of votes entitled by each share of common stock holder | vote				1
Dividends, declared or paid | $				$ 0
Capital common shares reserved for future issuance (in shares)		24,307,486		24,307,486		24,307,486		23,936,163
Common stock, issued (in shares)		60,730,274		60,730,274		60,730,274		60,578,956
2021 ATM Facility
Subsidiary, Sale of Stock [Line Items]
Common stock, issued (in shares)		0	1,025,935	0	8,363,186	14,611,756
Net proceeds from issuance of common stock | $			$ 2,110,000		$ 22,666,000	$ 41,421,000
Maximum | 2021 ATM Facility
Subsidiary, Sale of Stock [Line Items]
Gross proceeds from issuance of common stock | $	$ 80,000,000

Stock-Based Awards - Additional

Stock-Based Awards - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 15, 2023	Apr. 30, 2018	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 1,186	$ 2,073	$ 2,832	$ 3,938
June Reduction In Force
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options forfeited (in shares)	1,062,115
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			815	1,296	1,815	2,578
2018 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation cost			$ 6,620		$ 6,620
Unrecognized stock-based compensation cost, weighted-average period (in years)					1 year 6 months 21 days
Stock options to purchase common stock | June Reduction In Force
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modification closing period	6 months
Stock options to purchase common stock | Non-Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock converted under option plan (in shares)			247,169		247,169		260,570
RSUs issued and expected to vest
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted stock units, Granted (in shares)					0		732,000
Restricted stock units forfeited (in shares)	103,920				107,100
RSUs issued and expected to vest | June Reduction In Force
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modification closing period	6 months
RSUs issued and expected to vest | Vesting August 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period percentage							40%
RSUs issued and expected to vest | Vesting August 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period percentage							60%
RSUs issued and expected to vest | Granted to Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 0	$ 610	$ 341	$ 819
2014 Plan | Stock options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of exercise price per share of stock options to fair market value of share of common stock (as a percent)					100%
Stock options granted expiry period (in years)					10 years
Weighted average grant-date fair value per share of stock options granted (in dollars per share)					$ 0.50		$ 2.28
2018 Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock to be issued (in shares)		1,545,454
Percentage of authorized number of shares of common stock outstanding (as a percent)		4%
Stock options forfeited (in shares)					1,189,831
Number of shares of common stock converted under option plan (in shares)			10,098,998		10,098,998		8,233,330
2018 Employee Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares)			1,457,618		1,457,618
2018 Employee Stock Option and Incentive Plan | 2018 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock to be issued (in shares)		256,818	1,873,627		1,873,627
Percentage of authorized number of shares of common stock outstanding (as a percent)		1%
Number of shares of common stock issued (in shares)			0	2,234	137,917	53,563
2014 Plan and 2018 Plan | Stock options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted expiry period (in years)					10 years
Stock options granted vesting period (in years)					3 years
Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock to be issued (in shares)								600,000
Stock options forfeited (in shares)					9,113
Weighted average grant-date fair value per share of stock options granted (in dollars per share)						$ 1.99
Number of shares of common stock converted under option plan (in shares)			201,287		201,287		210,400
Inducement Plan | Stock options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares)			398,713		398,713

Stock-Based Awards - Summary of

Stock-Based Awards - Summary of Stock Option Activity (Details) - 2018 Stock Option and Incentive Plan $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of Shares
Number of Shares, outstanding beginning balance (in shares) | shares	8,233,330
Number of Shares, granted (in shares) | shares	3,068,900
Number of Shares, exercised (in shares) | shares	(13,401)
Number of Shares, forfeited (in shares) | shares	(1,189,831)
Number of Shares, outstanding ending balance (in shares) | shares	10,098,998	8,233,330
Number of Shares, options exercisable at ending balance (in shares) | shares	6,305,828
Number of Shares, vested and expected to vest at ending balance (in shares) | shares	10,098,998
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding beginning balance (in dollars per share) | $ / shares	$ 5.74
Weighted Average Exercise Price, Granted (in dollars per share) | $ / shares	0.69
Weighted Average Exercise Price, Exercised (in dollars per share) | $ / shares	0.35
Weighted Average Exercise Price, Forfeited (in dollars per share) | $ / shares	2.65
Weighted Average Exercise Price, Outstanding ending balance (in dollars per share) | $ / shares	4.58	$ 5.74
Weighted Average Exercise Price, Exercisable at ending balance (in dollars per share) | $ / shares	5.78
Weighted Average Exercise Price, Vested and expected to vest at ending balance (in dollars per share) | $ / shares	$ 4.58
Stock Option Activity, Additional Disclosures
Weighted Average Remaining Contractual Term (in years), Outstanding	6 years 11 months 12 days	6 years 8 months 4 days
Weighted Average Remaining Contractual Term (in years), Options exercisable	5 years 7 months 28 days
Weighted Average Remaining Contractual Term (in years), Vested and expected to vest	6 years 11 months 12 days
Aggregate Intrinsic Value (in dollars per share) | $	$ 604	$ 159
Aggregate Intrinsic Value, Options exercisable at ending balance (in dollars per share) | $	188
Aggregate Intrinsic Value, Vested and expected to vest at ending balance (In dollars per share) | $	$ 604

Stock-Based Awards - Summary _2

Stock-Based Awards - Summary of Stock Option Activity - Inducement Plan (Details) - Inducement Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Number of Shares
Number of Shares, outstanding beginning balance (in shares)		210,400
Number of Shares, granted (in shares)	0	0
Number of Shares, exercised (in shares)		0
Number of Shares, forfeited (in shares)		(9,113)
Number of Shares, outstanding ending balance (in shares)	201,287	201,287	210,400
Number of Shares, options exercisable at ending balance (in shares)	41,457	41,457
Number of Shares, vested and expected to vest at ending balance (in shares)	201,287	201,287
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding beginning balance (in dollars per share)		$ 2.61
Weighted Average Exercise Price, Granted (in dollars per share)		0
Weighted Average Exercise Price, Exercised (in dollars per share)		0
Weighted Average Exercise Price, Forfeited (in dollars per share)		3.12
Weighted Average Exercise Price, Outstanding ending balance (in dollars per share)	$ 2.59	2.59	$ 2.61
Weighted Average Exercise Price, Exercisable at ending balance (in dollars per share)	3.26	3.26
Weighted Average Exercise Price, Vested and expected to vest at ending balance (in dollars per share)	$ 2.59	$ 2.59
Stock Option Activity, Additional Disclosures
Weighted Average Remaining Contractual Term (in years), Outstanding		8 years 10 months 13 days	9 years 4 months 9 days
Weighted Average Remaining Contractual Term (in years), Options exercisable		8 years 8 months 19 days
Weighted Average Remaining Contractual Term (in years), Vested and expected to vest		8 years 10 months 13 days
Aggregate Intrinsic Value (in dollars per share)	$ 0	$ 0	$ 0
Aggregate Intrinsic Value, Options exercisable at ending balance (in dollars per share)	0	0
Aggregate Intrinsic Value, Vested and expected to vest at ending balance (In dollars per share)	$ 0	$ 0

Stock-Based Awards - Summary _3

Stock-Based Awards - Summary of Restricted Stock Unit Activity (Details) - RSUs issued and expected to vest - $ / shares		6 Months Ended	12 Months Ended
	Jun. 15, 2023	Jun. 30, 2023	Dec. 31, 2022
Number of Shares
Unvested restricted stock units, beginning balance (in shares)		385,980
Unvested restricted stock units, Granted (in shares)		0	732,000
Unvested restricted stock units, Vested (in shares)		0
Unvested restricted stock units, Forfeited (in shares)	103,920	107,100
Unvested restricted stock units, ending balance (in shares)		278,880	385,980
Weighted Average Grant-Date Fair Value
Weighted Average Grant-Date Fair Value, beginning balance (in dollars per share)		$ 3.64
Weighted Average Grant-Date Fair Value, Granted (in dollars per share)		0
Weighted Average Grant-Date Fair Value, Vested (in dollars per share)		0
Weighted Average Grant-Date Fair Value, Forfeited (in dollars per share)		3.64
Weighted Average Grant-Date Fair Value, ending balance (in dollars per share)		$ 3.64	$ 3.64

Stock-Based Awards - Summary _4

Stock-Based Awards - Summary of Stock-Based Compensation Expense Related to Stock Options and Restricted Stock Awards (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,186	$ 2,073	$ 2,832	$ 3,938
Research and development expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	371	777	1,017	1,360
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 815	$ 1,296	$ 1,815	$ 2,578

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 15, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Termination of Loan Agreement
Debt Instrument [Line Items]
Interest expense		$ 2,456
Prepayment Penalty		1,250
Amortization of debt issuance costs		1,206
K2 Health Ventures LLC | Term Loans | Loan and Security Agreement
Debt Instrument [Line Items]
Extinguishment of debt	$ 25,000
Fees and expenses	$ 3,250
Interest expense		$ 3,108	$ 733	$ 4,040	$ 1,415

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net Income (Loss) Attributable to Parent	$ (28,192)	$ (19,741)	$ (25,213)	$ 6,199	$ (47,933)	$ (19,014)
Denominator:
Weighted average commons shares outstanding—basic (shares)	60,717,899		54,654,822		60,673,195	51,647,148
Weighted average common shares outstanding— diluted (in shares)	60,717,899		54,654,822		60,673,195	51,647,148
Net loss per share — basic (in dollars per share)	$ (0.46)		$ (0.46)		$ (0.79)	$ (0.37)
Net loss per share — diluted (in dollars per share)	$ (0.46)		$ (0.46)		$ (0.79)	$ (0.37)

Net Loss per Share- Securities

Net Loss per Share- Securities Excluded from Computation of Diluted Net Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares excluded from computation of diluted net income per share attributable to common stockholders (in shares)	12,452,792	12,012,308
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares excluded from computation of diluted net income per share attributable to common stockholders (in shares)	10,300,285	8,968,131
Shares to be issued under the 2018 ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares excluded from computation of diluted net income per share attributable to common stockholders (in shares)	1,873,627	1,500,500
RSUs issued and expected to vest
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares excluded from computation of diluted net income per share attributable to common stockholders (in shares)	278,880	711,000
Shares available from conversion of note payable
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares excluded from computation of diluted net income per share attributable to common stockholders (in shares)	0	832,677

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax provision or benefit	$ 0	$ 0	$ 0	$ 0
Interest and penalties accrued	$ 0		$ 0		$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended
	Sep. 15, 2023	Jun. 15, 2023	Sep. 15, 2023	Jun. 30, 2023	May 31, 2022
Lease Agreements [Line Items]
Termination agreement lease amount		$ 1,595
Reduction due to lease modification		$ 30,700
Right of use asset reduction				$ 19,500
Lease liability reduction				$ 19,500
Sublease term					18 months
Sublease extension term					6 months
Forecast
Lease Agreements [Line Items]
Termination agreement lease amount	$ 8,405		$ 10,000

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Cash Inflows Under Sublease (Details) - Sublease Agreement with EQRx - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lease Agreements [Line Items]
Sublease income	$ 647	$ 648	$ 1,290	$ 1,304
2023	636		636
Total future sublease payments	$ 636		$ 636

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 15, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Preferred stock shares issued to related party (in shares)		0		0			0
Share price (in dollars per share)						$ 5.2831
Related Party | Novartis Collaboration
Related Party Transaction [Line Items]
Payment for reimbursement of manufacturing costs incurred		$ 0	$ 0	$ 0	$ 0
Amounts due from related party		0	0	0	0
Revenue		$ 0	$ 0	$ 0	$ 0
Related Party | Novartis Collaboration | Minimum
Related Party Transaction [Line Items]
Percentage of share holding (as a percent)	5%
Related Party | Novartis Collaboration | Series A One Redeemable Convertible Preferred Stock
Related Party Transaction [Line Items]
Preferred stock shares issued to related party (in shares)	2,000,000
Gross proceeds from issuance of preference stock	$ 13,500,000
Related Party | Novartis Collaboration | Private Placement
Related Party Transaction [Line Items]
Common stock, issued (in shares)	766,666
Share price (in dollars per share)	$ 15
Proceeds from issuance of private placement	$ 11,500,000

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 3,234	$ 0	$ 3,234	$ 0
Accrued restructuring liability	2,301		2,301
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,301		2,301
Facility Costs, Accelerated Depreciation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 933		$ 933