Prometheus Biosciences (RXDX) 10-K 28 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 21, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Registrant Name	PROMETHEUS BIOSCIENCES, INC.
Entity Central Index Key	0001718852
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 872.7
Entity Common Stock, Shares Outstanding		47,530,337
Entity File Number	001-40187
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4282653
Entity Address, Address Line One	3050 Science Park Road
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	422-4300
ICFR Auditor Attestation Flag	true
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	RXDX
Security Exchange Name	NASDAQ
Document Annual Report	true
Document Transition Report	false
Auditor Name	BDO USA, LLP
Auditor Location	San Diego, CA
Auditor Firm ID	243
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain sections of the registrant’s definitive proxy statement for the 2023 annual meeting of stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Form 10-K are incorporated by reference into Part III of this Form 10-K.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 292,423	$ 257,254
Short term investments	403,329
Accounts receivable	1,029	1,079
Prepaid expenses and other current assets	11,370	7,050
Total current assets	708,151	265,383
Property and equipment, net	3,877	1,447
Right-of-use asset	27,774
Other assets	971	971
Total assets	740,773	267,801
Current liabilities
Accounts payable	762	1,153
Accrued compensation	4,819	5,378
Accrued expenses and other current liabilities	12,721	6,243
Deferred revenue	1,298	3,668
Lease liabilities, current portion	3,217
Total current liabilities	22,817	16,442
Deferred revenue, non-current	15,667	16,204
Lease liabilities, net of current portion	26,321
Total liabilities	64,805	32,646
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock- $0.0001 par value; 40,000,000 shares authorized at December 31, 2022 and 2021; no shares issued and outstanding at December 31, 2022 and 2021.
Common stock- $0.0001 par value; 400,000,000 shares authorized as of December 31, 2022 and 2021; 46,845,573 shares and 38,960,716 shares issued at December 31, 2022 and 2021, respectively; 46,841,661 shares and 38,943,110 shares outstanding at December 31, 2022 and 2021, respectively.	5	4
Additional paid-in capital	1,007,485	424,492
Accumulated other comprehensive loss	(429)
Accumulated deficit	(331,093)	(189,341)
Total stockholders' equity	675,968	235,155
Total liabilities and stockholders' equity	$ 740,773	$ 267,801

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	46,845,573	38,960,716
Common stock, shares outstanding	46,841,661	38,943,110

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Collaboration revenue	$ 6,809	$ 3,129	$ 1,229
Operating expenses:
Research and development	112,848	62,427	19,147
General and administrative	39,739	28,505	11,089
Total operating expense	152,587	90,932	30,236
Loss from operations	(145,778)	(87,803)	(29,007)
Other income (expense), net:
Interest income	4,026	108	13
Interest expense		(861)	(2,130)
Loss on early extinguishment of debt		(554)
Change in fair value of preferred stock purchase right liability		(980)
Change in fair value of preferred stock warrant liability		(105)	(15)
Total other income (expense), net	4,026	(2,392)	(2,132)
Loss from continuing operations	(141,752)	(90,195)	(31,139)
Loss from discontinued operations			(5,999)
Net loss	(141,752)	(90,195)	(37,138)
Other comprehensive loss:
Unrealized loss on marketable securities, net	(429)
Comprehensive loss	$ (142,181)	$ (90,195)	$ (37,138)
Net loss per share, basic and diluted:
Continuing operations	$ (3.49)	$ (2.88)	$ (20.78)
Discontinued operations			(4)
Net loss per share, basic	(3.49)	(2.88)	(24.78)
Net loss per share, diluted	$ (3.49)	$ (2.88)	$ (24.78)
Weighted average shares outstanding, basic	40,617,465	31,334,154	1,498,973
Weighted average shares outstanding, diluted	40,617,465	31,334,154	1,498,973

Consolidated Statements of Conv

Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Series C Convertible Preferred Stock	Series D Convertible Preferred Stock	Series D-2 Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance at Dec. 31, 2019	$ (36,968)						$ 483		$ (37,451)
Temporary Equity, Balance, shares at Dec. 31, 2019		58,145,867
Temporary Equity, Balance at Dec. 31, 2019		$ 43,740
Balance, shares at Dec. 31, 2019						1,351,380
Issuance of convertible preferred stock for cash, net of issuance costs			$ 27,989	$ 41,948
Issuance of convertible preferred stock for cash, net of issuance costs, shares			28,063,500	61,066,216
Issuance of Series C convertible preferred stock upon release of escrow of acquisition-related contingent consideration			$ 3,500
Issuance of Series C convertible preferred stock upon release of escrow of acquisition-related contingent consideration, shares			3,500,000
Issuance of convertible preferred stock for deferred purchase price			$ 5,000	$ 3,846
Issuance of convertible preferred stock for deferred purchase price, shares			5,000,000	5,088,851
Issuance of common stock in exchange for services	112						112
Issuance of common stock in exchange for services, shares						36,200
Vesting of common shares issued to founders	1						1
Vesting of common shares issued to founders, shares						48,750
Vesting of common shares issued for licensing rights	1						1
Vesting of common shares issued for licensing rights, shares						111,667
Issuance of common stock upon exercise of stock options	156						156
Issuance of common stock upon exercise of stock options, shares						131,002
Vesting of early exercised stock options	12						12
Vesting of early exercised stock options, shares						34,623
Impact of spinoff of diagnostic services business	(24,557)								(24,557)
Stock-based compensation	840						840
Net loss	(37,138)								(37,138)
Ending Balance at Dec. 31, 2020	(97,541)						1,605		(99,146)
Temporary Equity, Balance, shares at Dec. 31, 2020		160,864,434
Temporary Equity, Balance at Dec. 31, 2020		$ 126,023
Balance, shares at Dec. 31, 2020						1,713,622
Issuance of convertible preferred stock for cash, net of issuance costs					$ 73,763
Issuance of convertible preferred stock for cash, net of issuance costs, shares					86,775,740
Issuance of convertible preferred stock for deferred purchase price					$ 6,144
Issuance of Series D-2 convertible preferred stock for settlement of deferred purchase price, shares					7,219,560
Reclassification of convertible preferred stock purchase right liability		$ 4,880
Conversion of convertible preferred stock into common stock at initial public offering	210,810					$ 3	210,807
Temporary Equity, Conversion of convertible preferred stock into common stock at initial public offering, shares		(254,859,734)
Temporary Equity, Conversion of convertible preferred stock into common stock at initial public offering		$ (210,810)
Conversion of convertible preferred stock into common stock at initial public offering, shares						25,485,955
Issuance of shares of common stock in initial public offering for cash, net of issuance costs	199,792					$ 1	199,791
Issuance of shares of common stock in initial public offering for cash, net of issuance costs, shares						11,500,000
Reclassification of convertible preferred stock warrants	169						169
Issuance of common stock in exchange for services	725						725
Issuance of common stock in exchange for services, shares						28,850
Issuance of common stock upon exercise of stock options	237						237
Issuance of common stock upon exercise of stock options, shares						151,436
Issuance of common stock under employee stock purchase plan	428						428
Issuance of common stock under employee stock purchase plan, shares						26,150
Vesting of early exercised stock options	$ 32						32
Vesting of early exercised stock options, shares	37,097					37,097
Stock-based compensation	$ 10,698						10,698
Net loss	(90,195)								(90,195)
Ending Balance at Dec. 31, 2021	$ 235,155					$ 4	424,492		(189,341)
Balance, shares at Dec. 31, 2021	38,943,110					38,943,110
Issuance of shares of common stock in initial public offering for cash, net of issuance costs	$ 556,392					$ 1	556,391
Issuance of shares of common stock in initial public offering for cash, net of issuance costs, shares						7,085,803
Issuance of common stock upon exercise of stock options	$ 4,994						4,994
Issuance of common stock upon exercise of stock options, shares	745,894					745,894
Issuance of common stock under employee stock purchase plan	$ 722						722
Issuance of common stock under employee stock purchase plan, shares						39,566
Vesting of early exercised stock options	$ 24						24
Vesting of early exercised stock options, shares	13,439					13,439
Cashless exercise of common stock warrant						13,849
Stock-based compensation	$ 20,862						20,862
Unrealized loss on marketable securities	(429)							$ (429)
Net loss	(141,752)								(141,752)
Ending Balance at Dec. 31, 2022	$ 675,968					$ 5	$ 1,007,485	$ (429)	$ (331,093)
Balance, shares at Dec. 31, 2022	46,841,661					46,841,661

Consolidated Statements of Co_2

Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Series D-2 Convertible Preferred Stock
Temporary stock, issuance costs		$ 94
Series D Convertible Preferred Stock
Temporary stock, issuance costs			$ 305
Series C Convertible Preferred Stock
Temporary stock, issuance costs			$ 74
Common Stock
Stock issuance costs	$ 32,999	$ 18,709

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (141,752)	$ (90,195)	$ (37,138)
Loss from continuing operations	(141,752)	(90,195)	(31,139)
Loss from discontinued operations			(5,999)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	629	258	109
Stock-based compensation expenses	20,862	10,698	739
Loss on early extinguishment of debt		554
Amortization of premiums and discounts on marketable securities, net	(2,682)
Noncash lease expense	865
Change in fair value of preferred stock purchase right liability		980
Change in fair value of preferred stock warrant liability		105
Common stock issued in exchange for services		725	113
Noncash interest expense		553	1,589
Other			(15)
Changes in operating assets and liabilities:
Accounts receivable	50	7	(1,086)
Prepaid expenses and other current assets	(4,307)	(4,881)	(1,802)
Other assets		(971)
Accounts payable	(307)	103	(480)
Accrued compensation	(559)	2,655	1,738
Accrued expenses and other current liabilities	5,954	3,443	1,108
Payments made to PLI			(6,866)
Payable to PLI		(937)	1,130
Deferred revenue	(2,906)	13,398	4,931
Operating lease liabilities	899
Net cash used in operating activities – continuing operations	(123,254)	(63,505)	(29,931)
Net cash used in operating activities – discontinued operations			1,913
Net cash used in operating activities	(123,254)	(63,505)	(28,018)
Cash flows from investing activities
Purchase of property and equipment	(2,703)	(1,136)	(204)
Proceeds from maturities of short term investments	77,600
Purchases of short term investments	(478,676)
Net cash used in investing activities – continuing operations	(403,779)	(1,136)	(204)
Net cash used in investing activities – discontinued operations			(859)
Net cash used in investing activities	(403,779)	(1,136)	(1,063)
Cash flows from financing activities
Proceeds from issuance of convertible preferred stock, net of issuance costs		73,749	73,826
Proceeds from issuance of long-term debt, net of issuance costs			7,338
Payments of stock issuance costs			(23)
Repayment of debt		(7,963)
Proceeds from sale of common stock in initial public offering		218,500
Proceeds from sale of common stock in public offerings, gross	589,391
Payment of public offering costs	(32,892)	(17,257)	(1,452)
Proceeds from issuance of common stock under employee stock purchase plan	722	428
Proceeds from issuance of common stock upon stock option exercises	4,981	237	197
Net cash provided by financing activities	562,202	267,694	79,886
Net increase in cash and cash equivalents	35,169	203,053	50,805
Cash and cash equivalents at beginning of period – continuing operations	257,254	54,201	4,450
Cash and cash equivalents at beginning of period – discontinued operations		4,975	3,921
Cash and cash equivalents cash at end of period	292,423	257,254	59,176
Cash and cash equivalents at end of period – discontinued operations			4,975
Cash and cash equivalents at end of period – continuing operations	292,423	257,254	54,201
Supplemental disclosures
Cash paid for income taxes	4	15	7
Cash paid for interest expense on Oxford debt		315	571
Right-of-use asset obtained in exchange for lease liabilities	28,639
Supplemental schedule of non-cash investing and financing activities
Conversion of convertible preferred stock into common stock upon completion of initial public offering		210,810
Reclassification of preferred stock purchase right liability to equity due to issuance of Series D convertible preferred stock		4,880
Reclassification of warrant liability to equity due to conversion from preferred stock warrant to common stock warrant upon completion of initial public offering		169
Issuance of Series D-2 convertible preferred stock for the settlement of deferred purchase price		6,144
Acquisition-related consideration held in escrow			(3,500)
Issuance of Series C convertible preferred stock for deferred purchase price			5,000
Vesting of early exercised stock options	24	32	38
Public offering costs incurred, but not paid, included in accrued expenses and accounts payable	107
Costs incurred, but not paid, in connection with capital expenditures included in accounts payable	$ 508	153	181
Preferred stock purchase right liability		$ (4,880)	$ 3,900

Organization

Organization	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization	1. Organization Prometheus Biosciences, Inc. (the Company) was incorporated in the state of Delaware on October 26, 2016 under the name Precision IBD, Inc. and is headquartered in San Diego, California. The Company changed its name to Prometheus Biosciences, Inc. on October 1, 2019. The Company’s business is focused on the discovery, development and commercialization of novel therapeutic and diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD). In June 2019, the Company acquired Prometheus Laboratories, Inc. (PLI) and the related intangible assets used by PLI. PLI was wholly owned by Nestlé Health Science US Holdings, Inc. and the related intangible assets were owned by Societé Des Produits Nestlé S.A (together, Nestlé) (see Note 7). PLI markets and conducts several laboratory developed tests useful to gastroenterologists in monitoring their IBD patients’ disease state and informing their therapeutic decisions. On December 31, 2020, the Company completed the spinoff of PLI by making an in-kind distribution of 100 % of its interest in PLI to the Company’s stockholders of record on December 30, 2020 (see Note 7). Reverse Stock Split On March 5, 2021, the Company effected a one-for-ten reverse stock split of the Company’s common stock (the Reverse Stock Split). The par value and the authorized shares of the common stock were not adjusted as a result of the Reverse Stock Split. All issued and outstanding common stock and the conversion prices and ratio of the convertible preferred stock have been retroactively adjusted to reflect this Reverse Stock Split for all periods presented. Initial Public Offering On March 16, 2021, the Company completed its initial public offering (IPO) with the sale of 11,500,000 shares of common stock, which included the exercise in full by the underwriters of their option to purchase 1,500,000 additional shares, at an initial public offering price of $ 19.00 per share and received gross proceeds of $ 218.5 million, which resulted in net proceeds to the Company of approximately $ 199.8 million, after deducting underwriting discounts and commissions of approximately $ 15.3 million and offering-related transaction costs of approximately $ 3.4 million. In addition, in connection with the completion of the IPO, all outstanding shares of convertible preferred stock were converted into 25,485,955 shares of the Company’s common stock; outstanding warrants to purchase 148,848 shares of convertible preferred stock were converted into warrants to purchase 14,884 shares of the Company’s common stock; and the Company’s certificate of incorporation was amended and restated to authorize 400,000,000 shares of common stock and 40,000,000 shares of undesignated preferred stock. Liquidity The Company has incurred net losses since inception, experienced negative cash flows from operations, and as of December 31, 2022, has an accumulated deficit of $ 331.1 million . The Company has historically financed its operations primarily through private placements of convertible preferred stock, proceeds from the Company's IPO in March 2021 and proceeds from the sale of its common stock through a public offering and an "at the market" offering. The Company expects operating losses and negative cash flows from operations to continue for the foreseeable future. The Company believes its current capital resources will be sufficient for the Company to continue as a going concern for at least one year from the issuance date of these consolidated financial statements. The Company will be required to raise additional capital, however, there can be no assurance as to whether additional financing will be available on terms acceptable to the Company, if at all. If sufficient funds on acceptable terms are not available when needed, it would have a negative impact on the Company’s financial condition and could force the Company to delay, limit, reduce, or terminate product development or future commercialization efforts or grant rights to develop and market product candidates or testing products that the Company would otherwise plan to develop.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions. On December 31, 2020, the Company completed the spinoff of PLI. The results of operations for all periods presented have been presented as discontinued operations in the accompanying consolidated financial statements in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations . Unless otherwise noted, discussion within these notes to the consolidated financial statements relates to continuing operations (see Note 7 for additional information on discontinued operations). On an ongoing basis, management evaluates its estimates, primarily related to revenue recognition, stock-based compensation, marketable securities, accrued research and development costs, and the incremental borrowing rate for lease liabilities. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Estimates relating to the valuation of stock require the selection of appropriate valuation methodologies and models, and significant judgment in evaluating ranges of assumptions and financial inputs. Principles of Consolidation The consolidated financial statements include the accounts of the Company and until December 31, 2020, the date at which the spinoff was completed, its wholly-owned subsidiary, PLI and have been prepared in conformity with GAAP. All intercompany accounts and transactions have been eliminated in consolidation. Segment Reporting The Company’s Chief Executive Officer, who is considered to be the chief operating decision maker (CODM), reviews financial information presented on a consolidated basis, accompanied by information about operating segments for purposes of making operating decisions and assessing financial performance. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the CODM in deciding how to allocate resources and in assessing performance. Prior to the spinoff of PLI in December 2020, the Company determined its operating segments to be the therapeutics and diagnostic services businesses. The therapeutics business derives substantially all of its revenue from collaboration agreements and devotes all of its efforts to development of product candidates and diagnostics in the IBD space. The diagnostic services business, which is recorded as a discontinued operations, derives its revenue from diagnostic services in the IBD space generated from the conduct of laboratory developed tests. Subsequent to the spinoff, the Company operates in one segment. The Company operates solely in the United States. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The cash and cash equivalents balance at December 31, 2022 and 2021 represent cash in readily available checking accounts, money market accounts, and commercial paper. Marketable Securities The Company’s marketable securities primarily consist of commercial paper, corporate debt securities, and U.S. government and agency securities classified within cash and cash equivalents and short-term investments depending on their maturity date at the time of purchase. The Company classifies its marketable securities as available-for-sale and records such assets at estimated fair value in the consolidated balance sheets, with unrealized gains and losses, if any, reported as a component of other comprehensive income (loss) within the consolidated statements of operations and comprehensive loss and as a separate component of stockholders’ equity. The Company classifies marketable securities with remaining maturities greater than one year as current assets because such marketable securities are available to fund the Company’s current operations. Realized gains and losses are calculated on the specific identification method and recorded as interest income (loss). There were no realized gains and losses from sales of marketable securities during any of the periods presented. At each balance sheet date, the Company assesses available-for-sale securities in an unrealized loss position to determine whether the unrealized loss is other-than-temporary. When the Company determines that a decline in the fair value below its cost basis is other-than-temporary, the Company recognizes an impairment loss in the period in which the other-than-temporary decline occurred. There have been no other-than-temporary impairments recognized during any of the periods presented. The Company excludes accrued interest from the fair value and amortized cost basis of marketable securities. As of December 31, 2022 , $ 1.1 million of accrued interest receivable related to marketable securities has been recorded in prepaid expenses and other current assets within the accompanying consolidated balance sheets. Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash, cash equivalents, short-term investments, and accounts receivable. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Accounts Receivable Accounts receivable is stated at the original invoice amount and consists of certain research and development and contract manufacturing costs subject to reimbursement under the Company’s collaboration agreements. The Company did no t record any credit losses as of December 31, 2022 and 2021 . Property and Equipment, Net Property and equipment is stated at cost less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the related assets, which ranges from two to ten years . Repairs and maintenance charges that do not increase the useful life of the assets are charged to operating expenses as incurred. Leases At the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. Lease terms are determined at the commencement date by considering whether renewal options and termination options are reasonably assured of exercise. For its long-term operating leases, the Company recognizes a lease liability and a right-of-use (“ROU”) asset on its balance sheets and recognizes lease expense on a straight-line basis over the lease term. The lease liability is determined as the present value of future lease payments using the discount rate implicit in the lease or, if the implicit rate is not readily determinable, an estimate of the Company’s incremental borrowing rate. The ROU asset is based on the lease liability, adjusted for any prepaid or deferred rent. The Company aggregates all lease and non-lease components for each class of underlying assets into a single lease component and variable charges for common area maintenance and other variable costs are recognized as expenses as incurred. The Company has elected to not recognize a lease liability or ROU asset in connection with short-term operating leases and recognizes lease expense for short-term operating leases on a straight-line basis over the lease term. The Company does not have any finance leases. Long-Lived Assets The Company’s long-lived assets are comprised principally of its property and equipment. If the Company identifies a change in the circumstances related to its long-lived assets that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense. Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (ASC 606). In accordance with ASC 606, the Company performs the following steps in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of these agreements: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when, or as, the Company satisfies each performance obligation. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. To date, all of the Company’s collaboration revenue has been derived from its collaboration agreement with Dr. Falk Pharma GmbH and its collaboration agreement with Millennium Pharmaceuticals, Inc., a subsidiary of Takeda Pharmaceutical Company Limited (collectively, Takeda) as described in Note 6. The terms of these arrangements include the following types of payments to the Company: non-refundable, up-front license fees; development, regulatory and commercial milestone payments; payments for research and development services provided by the Company; and royalties on net sales of licensed products. At the initiation of an agreement, the Company analyzes whether each unit of account results in a contract with a customer under ASC 606 or in an arrangement with a collaborator subject to guidance under ASC 808, Collaborative Arrangements (ASC 808). The Company considers a variety of factors in determining the appropriate estimates and assumptions under these arrangements, such as whether the elements are distinct performance obligations, whether there are observable stand-alone prices, and whether any licenses are functional or symbolic. The Company evaluates each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, license fees, non-refundable upfront fees, and funding of research activities are considered fixed, while milestone payments are identified as variable consideration which must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. The Company estimates the amount of variable consideration using the most likely amount, as milestone payments typically only have two possible outcomes. The Company recognizes revenue for sales-based royalty promised in exchange for the license of intellectual property only when the subsequent sale occurs. Any cumulative effect of revisions to estimated costs to complete the Company’s performance obligation will be recorded in the period in which changes are identified and amounts can be reasonably estimated. This approach requires the Company to use significant judgement and make estimates of future expenditures. If the Company’s estimates or judgements change over the course of the collaboration, they may affect the timing and amount of revenue that it recognizes in the current and future periods. The Company may allocate transaction price using a number of methods including estimating standalone selling price of performance obligations and using the residual approach when the standalone selling price of the license is highly variable or uncertain, and observable standalone selling prices exist for the other goods or services promised in the contract. The Company receives payments from its collaborators based on terms established in each contract. Upfront payments and other payments may require deferral of revenue recognition to a future period until the Company is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the payment by the customer is akin to a deposit for research and development services. Research and Development and Clinical Trial Accruals Research and development costs are charged to expense as incurred. Research and development expenses include certain payroll and personnel expenses, laboratory supplies, consulting costs, external contract research and development expenses, costs related to manufacturing the Company’s product candidates for clinical trials and preclinical studies, and allocated overhead, including rent, information technology, property and equipment depreciation and utilities. Advance payments for goods or services for future research and development activities are deferred and expensed as the goods are delivered or the related services are performed. The Company estimates preclinical studies and clinical trial expenses based on the services performed pursuant to contracts with research institutions and clinical research organizations that conduct and manage preclinical studies and clinical trials on the Company’s behalf. In addition, clinical study and trial materials are manufactured by contract manufacturing organizations. In accruing for these services, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. These estimates are based on communications with the third-party service providers and the Company’s estimates of accrued expenses and on information available at each balance sheet date. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Patent Costs Costs related to filing and pursuing patent applications are recorded as general and administrative expense in the accompanying consolidated statements of operations and comprehensive loss and are expensed as incurred since recoverability of such expenditures is uncertain. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Stock-Based Compensation The Company expenses stock-based compensation to employees and non-employees related to stock options, restricted stock units, and shares granted under the Company’s 2021 Employee Stock Purchase Plan (the ESPP). Stock-based compensation expense represents the cost of the grant date fair value of applicable awards recognized over the requisite service period (usually the vesting period) on a straight-line basis, net of actual forfeitures during the period. The Company estimates the fair value of stock options and shares purchased under the ESPP using the Black-Scholes option pricing model, and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Stock-based compensation expense related to restricted stock units is determined based upon the fair market value of the Company’s stock on the grant date. Valuation of Common Stock Prior to the IPO, given the absence of a public trading market for the Company’s common stock, the Company's board of directors exercised their judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of the Company’s common stock, such as: contemporaneous valuations performed by independent third-party specialists, its stage of development, including the status of its research and development efforts of its product candidates, the material risks related to its businesses and industry, its results of operations before discontinued operations and financial position, including its levels of capital resources, the prices at which its sold shares of its convertible preferred stock, the rights, preferences and privileges of its convertible preferred stock relative to those of its common stock, the conditions in the biotechnology industry and the economy in general, the stock price performance and volatility of comparable life sciences public companies, as well as recently completed mergers and acquisitions of peer companies, the likelihood of achieving a liquidity event for the holders of its common stock or convertible preferred stock, such as an IPO or a sale of the Company given prevailing market conditions, trends and developments in its industry, external market conditions affecting the life sciences and biotechnology sectors, and the lack of liquidity of its common stock, among other factors. After the completion of the IPO, the fair value of each share of common stock is based on the closing price of the Company’s common stock as reported by the Nasdaq Global Select Market. Preferred Stock Purchase Right Liabilities The Company entered into convertible preferred stock financings where, in addition to the initial closing, investors agreed to buy, and the Company agreed to sell, additional shares of that convertible preferred stock at a fixed price in the event that certain conditions are met or agreed upon milestones are achieved. The Company evaluated this purchase right and assessed whether it met the definition of a freestanding instrument and, if so, determined the fair value of the purchase right liability and recorded it on the balance sheet with the remainder of the proceeds raised allocated to convertible preferred stock. The preferred stock purchase right liability was revalued at each reporting period with changes in the fair value of the liability recorded as change in fair value of preferred stock purchase right liability in the consolidated statements of operations and comprehensive loss. Upon the issuance of the shares of Series D-2 convertible preferred stock in January 2021, the preferred stock purchase right liability no longer required liability accounting and the then fair value of the preferred stock purchase right liability was reclassified into stockholders’ equity. The Company performed the final remeasurement of the preferred stock purchase right liability as of the issuance of the shares of Series D-2 convertible preferred stock and recorded a $ 1.0 million change in fair value into other income (expense) for the year ended December 31, 2021 . Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby (1) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability. Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. The Company has excluded 9,681 , 32,381 and 145,046 weighted-average shares subject to repurchase or forfeiture from the weighted-average number of common shares outstanding for the years ended December 31, 2022, 2021, and 2020, respectively. Dilutive common stock equivalents are comprised of convertible preferred stock, options and restricted stock units outstanding under the Company’s stock option plan, warrants to purchase common or convertible preferred stock and ESPP shares pending issuance. Basic and diluted net loss attributable to common holders per share is presented in conformity with the two- class method required for participating securities as the convertible preferred stock are considered participating securities. The Company’s participating securities do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Accordingly, for the years ended December 31, 2022, 2021, and 2020 there is no difference in the number of shares used to calculate basic and diluted shares outstanding. Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares): December 31, 2022 2021 2020 Convertible preferred stock outstanding — — 16,086,426 Common stock options issued and outstanding 7,418,790 6,474,039 2,930,248 Restricted stock units 251,908 — — Warrants to purchase common stock outstanding — 14,884 — Warrants to purchase convertible preferred stock outstanding — — 11,250 ESPP shares pending issuance 5,561 7,187 — Total 7,676,259 6,496,110 19,027,924 Comprehensive Loss Comprehensive loss is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources, including unrealized gains and losses on marketable securities. Comprehensive gains (losses) have been reflected in the statements of operations and comprehensive loss for all periods presented. Recent Accounting Pronouncements From time to time, new accounting standards are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Fair Value Measurements and Fai

Fair Value Measurements and Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Fair Value of Financial Instruments	3. Fair Value Measurements and Fair Value of Financial Instruments The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. The carrying amounts of prepaid and other assets, accounts payable and accrued liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments. The following table summarizes the Company's financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Measurements At Total Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs As of December 31, 2022 Assets: Cash and cash equivalents: Money market funds $ 182,337 $ 182,337 $ — $ — Commercial paper 66,680 — 66,680 — Total cash and cash equivalents $ 249,017 $ 182,337 $ 66,680 $ — Short-term investments: Commercial paper $ 235,772 $ — $ 235,772 $ — Corporate debt securities 17,801 — 17,801 — U.S. government and agency securities 149,756 17,755 132,001 — Total short-term investments $ 403,329 $ 17,755 $ 385,574 $ — Total assets measured at fair value $ 652,346 $ 200,092 $ 452,254 $ — The Company had no financial instruments measured at fair value as of December 31, 2021. The Company determines the fair value of its marketable securities based on one or more valuations from its investment accounting and reporting service provider. The investment service provider values the securities using a hierarchical security pricing model that relies primarily on valuations provided by an industry-recognized valuation service. Such valuations may be based on trade prices in active markets for identical assets (Level 1 inputs) or valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets, yield curves, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, and broker and dealer quotes, as well as other relevant economic measures. There were no transfers within the hierarchy during the years ended December 31, 2022 and 2021 . At December 31, 2020, Level 3 liabilities that were measured at fair value on a recurring basis consisted of warrants to purchase shares of convertible preferred stock and a preferred stock purchase right liability. The Company had no Level 3 liabilities at December 31, 2022 as the liabilities for the warrants to purchase shares of convertible preferred stock and the preferred stock purchase right was remeasured and reclassified to stockholders’ equity upon the closing of the Company’s IPO in March 2021 and the issuance of shares of Series D-2 convertible preferred stock in January 2021, respectively. Convertible Preferred Stock Warrant Liability The convertible preferred stock warrant liability was recorded at fair value utilizing the Black-Scholes option pricing model using significant unobservable inputs consistent with the inputs used for the Company’s stock-based compensation expense adjusted for the preferred stock warrants’ expected term and the fair value of the underlying preferred stock. The assumptions used in the Black-Scholes option pricing model to determine the fair value of the convertible preferred stock warrant liability at the date of the IPO were as follows: IPO Date Fair value of underlying preferred stock $ 1.90 Risk-free interest rate 1.70 % Expected volatility 70.00 % Expected term (in years) 9.0 Expected dividend yield —% Preferred Stock Purchase Right Liability Upon issuance of the shares of Series D-2 convertible preferred stock in January 2021, the liability was remeasured using a valuation model that considered: (i) the risk-free rate commensurate with the expected milestone timing of 0.09 %; (ii) the probability of the Series D-2 tranche of 80.0 %; (iii) volatility of 80.0 %; (iv) consideration received for the Series D-1 preferred stock; (v) the number of shares to be issued to satisfy the preferred stock purchase right and at what price; and (vi) certain implied and provided assumptions needed to calibrate the Series D-1 value and the Series D-2 purchase right, and as a result of closing the sale of shares of Series D-2 convertible preferred stock, a charge of $ 1.0 million was recorded in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2021. Activity of Liabilities Using Fair Value Level 3 Measurements The following table summarizes the activity of the financial instruments valued using Level 3 inputs (in thousands): Acquisition-related Consideration Held in Escrow Convertible Series D Balance at December 31, 2019 $ 3,500 $ — $ — Acquisition-related consideration released from escrow ( 3,500 ) — — Issuance of Series C convertible preferred stock warrants — 79 — Issuance of Series D convertible preferred stock purchase right liability — — 3,900 Change in fair value — ( 15 ) — Balance at December 31, 2020 — 64 3,900 Change in fair value — 105 980 Conversion/Settlement during 2021 — ( 169 ) ( 4,880 ) Balance at December 31, 2021 $ — $ — $ —

Marketable Securities

Marketable Securities	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	4. Marketable Securities The following table summarizes marketable securities (in thousands): As of December 31, 2022 Unrealized Maturity (in years) Amortized Unrealized Gains Unrealized Losses Estimated Cash and cash equivalents: Money market funds $ 182,337 $ — $ — $ 182,337 Commercial paper 1 or less 66,666 14 — 66,680 Total cash and cash equivalents $ 249,003 $ 14 $ — $ 249,017 Short-term investments: Commercial paper 1 or less $ 235,945 $ — $ ( 173 ) $ 235,772 Corporate debt securities 1 or less 17,805 — ( 4 ) 17,801 U.S. government and agency securities 2 or less 150,022 — ( 266 ) 149,756 Total short-term investments $ 403,772 $ — $ ( 443 ) $ 403,329 Total marketable securities $ 652,775 $ 14 $ ( 443 ) $ 652,346 As of December 31, 2022 , no ne of the marketable securities held have been in an unrealized loss position for greater than 12 months. The Company does not intend to sell these investments and it is not likely that the Company will be required to sell these investments before recovery of their amortized cost basis. Accordingly, no allowance for credit losses was recorded. There were no marketable securities as of December 31, 2021.

Balance Sheet Details

Balance Sheet Details	12 Months Ended
	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Details	5. Balance Sheet Details Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): December 31, December 31, Prepaid clinical trial expenses $ 4,015 $ 1,397 Prepaid contract manufacturing expenses 2,898 3,808 Prepaid research and development expenses 2,251 627 Other prepaid expenses 2,206 1,218 Total $ 11,370 $ 7,050 Property and Equipment, Net Property and equipment, net, consist of the following (in thousands): December 31, December 31, Laboratory equipment $ 3,281 $ 1,830 Computer equipment 759 — Office equipment and furniture 873 24 4,913 1,854 Less accumulated depreciation ( 1,036 ) ( 407 ) Total $ 3,877 $ 1,447 Depreciation expense related to property and equipment was $ 0.6 million , $ 0.3 million , and $ 0.1 million for the years ended December 31, 2022, 2021, and 2020 respectively. Accrued Compensation Accrued compensation consist of the following (in thousands): December 31, December 31, Accrued bonuses $ 4,609 $ 5,024 Accrued salaries and payroll taxes 31 64 Accrued ESPP 179 129 Accrued severance — 161 Total $ 4,819 $ 5,378 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following (in thousands): December 31, December 31, Accrued clinical trial expenses $ 4,407 $ 1,999 Accrued contract manufacturing expenses 4,065 906 Accrued research and development expenses 2,958 2,123 Accrued legal expenses 371 531 Payable to PLI 193 193 Unvested early exercise liability 11 35 Accrued other 716 456 Total $ 12,721 $ 6,243

Collaboration and License Agree

Collaboration and License Agreements	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration and License Agreements	6. Collaboration and License Agreements Exclusive License Agreement with Cedars-Sinai Medical Center In September 2017, the Company entered into an Exclusive License Agreement with Cedars-Sinai Medical Center (Cedars-Sinai), a related party, as amended and restated (the Cedars-Sinai Agreement). Under the terms of the Cedars-Sinai Agreement, Cedars-Sinai granted the Company an exclusive, worldwide, royalty bearing license with respect to certain patent rights, information and materials related to therapeutic targets and diagnostic products, in each case to conduct research, develop, and commercialize therapeutic and diagnostic products for human use. The licensed technology includes information and materials arising out of Cedars-Sinai’s database and biobank, as well as exclusive access to this database and biobank, which is an integral part of the Company’s Prometheus360 platform. In August 2021, the Company and Cedars-Sinai amended and restated the Cedars-Sinai Agreement to, among other things, add a joint steering committee and cover new intellectual property. As consideration for the license rights, in September 2017 the Company issued (i) 257,500 shares of fully vested common stock, and (ii) 335,000 shares of unvested restricted common stock, all of which is vested as of December 31, 2020. The fair value of all of the shares were measured at the date of issuance. The shares of unvested restricted common stock had vesting conditions tied to continuing services required of certain Cedars-Sinai employees pursuant to consulting agreements with the Company. One third of the restricted shares were released from restriction annually on the anniversary of the Cedars-Sinai Agreement over a three-year period. Additionally, the Company is obligated to pay Cedars-Sinai low- to mid-single digit percentage royalties on net sales of products covered under the Cedars-Sinai Agreement. The term of, and the Company’s royalty obligations under, the Cedars-Sinai Agreement expires on a licensed product-by-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 covering such licensed product in such country. Co-Development and Manufacturing Agreement with Dr. Falk Pharma GmbH In July 2020, the Company entered into a Co-Development and Manufacturing Agreement (the Falk Agreement) with Dr. Falk Pharma GmbH (Falk), pursuant to which the parties will co-develop and commercialize, exclusively in their respective territories, therapeutic product candidates targeting members of the TNF super family for the treatment of UC and CD under the Company’s PRA052 program. Under the Falk Agreement, the Company is obligated to use commercially reasonable efforts to conduct development activities under an agreed development plan and the Company is responsible for regulatory approvals and commercialization of any products in the United States and the rest of the world, other than the Falk territory. Falk is responsible for regulatory approvals and commercialization of any products in the European Union, United Kingdom, Switzerland, the countries of the European Economic Area (excluding Malta and the Republic of Cyprus), Australia and New Zealand (Falk territory). Falk agreed to fund 25 % of the Company’s third-party development costs set forth in the development plan. Under the agreement, Falk paid the Company an upfront payment of $ 2.5 million and made a second payment of $ 2.5 million following the parties’ mutual agreement on the development plan. In addition, in June 2021, Falk made a milestone payment to the Company of $ 10 million upon the selection of a clinical candidate for the PRA052 program and, in December 2021, Falk made the final milestone payment of $ 5 million, based on the Company’s development of a diagnostic candidate for the PRA052 program. Falk is also obligated to pay the Company a mid-single to low-double digit royalty on net sales of all products incorporating antibodies covered by the agreement in the Falk territory, and the Company agreed to pay Falk a low-single digit royalty on net sales for such products in the Company’s territory. The Company has identified one performance obligation for all the deliverables under the Falk Agreement. Accordingly, the Company is recognizing revenue for the transaction price allocated to the performance obligation in an amount proportional to the collaboration expenses incurred and the total estimated collaboration expenses over the eight-year period over which it expects to satisfy its performance obligation. The Company included the upfront payment and all milestone payments in the transaction price as it was deemed not probable of significant reversal at the inception of the agreement. In connection with the Falk Agreement, the Company recognized revenue of $ 5.6 million , $ 2.8 million , and $ 0.4 million for the years ended December 31, 2022, 2021, and 2020, respectively, and had deferred revenue of $ 17.0 million and $ 18.7 million as of December 31, 2022 and 2021, respectively. This deferred revenue balance is expected to be recognized proportionally as expenses are incurred over the estimated eight-year term. Companion Diagnostic Development Agreement with Millennium Pharmaceuticals, Inc. In March 2019, the Company entered into a Companion Diagnostics Development and Collaboration Agreement (the Takeda Agreement) with Millennium Pharmaceuticals, Inc., a wholly-owned subsidiary of Takeda. In March 2022, the Company and Takeda mutually agreed to terminate the agreement, effective April 2022. In connection with the Takeda Agreement, the Company recognized revenue of $ 1.2 million , $ 0.4 million , and $ 0.8 million for the years ended December 31, 2022, 2021, and 2020 respectively, and had deferred revenue of zero and $ 1.2 million as of December 31, 2022 and 2021, respectively. A reconciliation of deferred revenue related to the Falk and Takeda agreements for the years ended December 31, 2022 and 2021 is as follows (in thousands): Falk Takeda Total Balance at December 31, 2019 $ — $ 1,542 $ 1,542 Amounts received 5,200 960 6,160 Revenue recognized ( 437 ) ( 792 ) ( 1,229 ) Balance at December 31, 2020 4,763 1,710 6,473 Amounts received/credited 16,678 ( 150 ) 16,528 Revenue recognized ( 2,750 ) ( 379 ) ( 3,129 ) Balance at December 31, 2021 18,691 1,181 19,872 Amounts received 3,902 — 3,902 Revenue recognized ( 5,628 ) ( 1,181 ) ( 6,809 ) Balance at December 31, 2022 $ 16,965 $ — $ 16,965 The Company recognized revenue of $ 2.9 million and $ 1.5 million out of the beginning deferred revenue balance during the years ended December 31, 2022 and 2021, respectively. The Company expects to recognize $ 1.3 million of the deferred revenue balance in 2023 .

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	7. Discontinued Operations On June 30, 2019, the Company acquired 100 % of the common stock of PLI and the related intangible assets used by PLI for total consideration of approximately $ 31.7 million, consisting of the issuance of 16.5 million shares of the Company’s Series C convertible preferred stock with a fair value of $ 16.5 million, the present value of $ 15.0 million in deferred cash payments due as follows: $ 5.0 million due on June 30, 2020 and $ 10.0 million due on June 30, 2021, and acquisition-related contingent consideration consisting of 3,500,000 shares of the of the Company’s Series C convertible preferred stock with a fair value of $ 3.5 million. The deferred cash payments totaling $ 15.0 million were not contingent upon any event and to reflect the interest component were discounted at 12 %. In June 2020, $ 5.0 million of deferred cash payments were converted to 5,000,000 shares of Series C convertible preferred stock and in October 2020, $ 3.8 million of deferred cash payments were converted to 5,088,851 shares of Series D convertible preferred stock. In addition, in January 2021, $ 6.1 million of deferred cash payments were converted to 7,219,560 shares of Series D-2 convertible preferred stock. The acquisition-related contingent consideration stipulated certain revenue thresholds for the Anser® test during the first calendar year following the acquisition. The shares were released from escrow on June 30, 2020. In December 2020, in order to achieve the Company’s strategic objectives, the Company’s board of directors approved the spinoff of PLI by making an in-kind distribution of 100 % of its interest in PLI to the Company’s stockholders of record on December 30, 2020. In connection with the spinoff, which was effected on December 31, 2020, the Company assigned PLI specific intellectual property to PLI; entered into a transition services agreement whereby the Company agreed to provide PLI with certain transition services including general and administrative, finance and clinical operations support; and entered into a sublease agreement under which the Company occupied approximately 40,000 square feet in the PLI facility for a term of one year , which was subsequently extended for six months through June 2022. Post spinoff, the Company retained obligations under the Oxford Loan (see Note 8) and for the deferred cash payments to Nestlé. The major line items constituting the loss of PLI for the year ended December 31, 2020, which are reflected in the accompanying consolidated statements of operations and comprehensive loss as discontinued operations, are as follows: Year Ended December 31, 2020 Diagnostic services revenue $ 36,593 Operating expenses: Cost of diagnostic services revenue 12,625 Research and development 4,956 Sales and marketing 10,993 General and administrative 9,885 Restructuring 2,260 Amortization of intangible assets 1,179 Goodwill impairment charge 724 Total operating expenses 42,622 Loss from discontinued operations ( 6,029 ) Interest income 30 Loss from discontinued operations, net of taxes $ ( 5,999 )

Long Term Debt

Long Term Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long Term Debt	8. Long Term Debt In January 2020, the Company entered into a Loan and Security Agreement (the Loan Agreement) with Oxford Finance LLC and its affiliates (Oxford) (the Oxford Loan) which provided for total borrowings of up to $ 25.0 million, of which $ 7.5 million was drawn upon execution of the agreement. In July 2021, we voluntarily prepaid the aggregate outstanding principal balance of $ 7.5 million plus an additional $ 0.5 million consisting of the prepayment penalty, final payment, and accrued interest due under the terms of the Loan Agreement, and the Loan Agreement was terminated in accordance with its terms. All liens and security interests securing the Oxford Loan were released upon termination. No additional amounts remain available for borrowing. Under the Loan Agreement, interest accrued at an annual rate at the greater of (a) the 30-day U.S. LIBOR rate reported the last business day of the month that immediately precedes the month in which the interest will accrue, or (b) 2.01 %, plus 5.98 %, with a minimum annual rate of 7.99 %. From March 1, 2020 through February 28, 2023, the Company was required to make interest only payments. In connection with execution of the Loan Agreement, the Company issued Oxford a warrant to purchase 112,500 shares of the Company’s Series C convertible preferred stock at an exercise price of $ 1.00 per share, exercisable at any time following issuance. The preferred stock warrant has a term of ten years . The warrant became exercisable for an aggregate of 14,884 shares of the Company’s common stock at an exercise price of $ 7.558 per share upon the completion of the Company’s IPO. In December 2022, Oxford cashless exercised the warrant for 13,849 shares.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Amended Certificate of Incorporation In March 2021, the Company amended its Certificate of Incorporation to authorize 400,000,000 shares of common stock and 40,000,000 shares of preferred stock. Convertible Preferred Stock In connection with the completion of the Company’s IPO on March 16, 2021, all outstanding shares of convertible preferred stock were converted into 25,485,955 shares of the Company’s common stock and outstanding warrants to purchase 148,848 shares of convertible preferred stock were converted into warrants to purchase 14,884 shares of the Company’s common stock. Series C Convertible Preferred Stock In March 2020, the Company sold 28,063,500 shares of Series C convertible preferred stock and received net cash proceeds totaling $ 28.0 million. Series D Convertible Preferred Stock In October 2020, the Company entered into a Series D convertible preferred stock purchase agreement (Series D SPA) under which it issued 61,066,216 shares of Series D-1 convertible preferred stock, for cash, at a price of $ 0.7558 per share, for net proceeds of $ 46.2 million (the Initial Series D Closing). In addition, 5,088,851 shares of Series D-1 convertible preferred stock were issued to Nestlé in satisfaction of a deferred purchase price obligation of $ 3.8 million. The Series D SPA contained provisions that potentially obligated the Company to issue an additional 94,007,051 shares of Series D-2 convertible preferred stock at $ 0.8510 per share in an additional closing, 7,231,311 of which was issuable to Nestlé for satisfaction of deferred purchase price obligations of $ 6.2 million, upon the approval by the Company’s board of directors, or at the option of the investors who participated in the Initial Series D Closing, or upon the achievement of certain milestones as defined in the Series D SPA, which purchase right terminates upon certain specified events, including an initial public offering of the Company, if any. The Company determined its obligation to issue additional shares of the Company’s Series D-2 convertible preferred stock in the Initial Series D Closing represented a freestanding financial instrument that required liability accounting. This freestanding preferred stock purchase right liability for the additional closing was recorded at fair value, with changes in fair value recognized in the consolidated statements of operations and comprehensive loss. As of the Initial Series D Closing, the estimated fair value of the preferred stock purchase right liability was $ 3.9 million. In January 2021, 93,995,300 shares of Series D-2 convertible preferred stock were issued, of which, 7,219,560 were issued to Nestlé for the satisfaction of deferred purchase price obligations of $ 6.1 million. Upon the closing of the sale of these shares, the preferred stock purchase right liability was remeasured to fair value and the change in fair value of $ 1.0 million was recorded in the statement of operations for the year ended December 31, 2021. The liability was then reclassified to stockholders’ equity. Sale Agreement On April 1, 2022, the Company entered into an Open Market Sale Agreement (the “Sale Agreement”) with Jefferies LLC (the “Agent”), pursuant to which the Company may, from time to time, offer and sell shares of the Company’s common stock having an aggregate offering price of up to $ 150.0 million in “at the market” offerings through the Agent. Sales of the shares of common stock, if any, will be made at prevailing market prices at the time of sale, or as otherwise agreed with the Agent. The Agent will receive a commission from the Company of 3.0 % of the gross proceeds of any shares of common stock sold under the Sale Agreement. The Company is not obligated to sell, and the Agent is not obligated to buy or sell, any shares of common stock under the Sale Agreement. No assurance can be given that the Company will sell any shares of common stock under the Sale Agreement, or, if it does, as to the price or amount of shares of common stock that it sells or the dates when such sales will take place. The Company and the Agent may each terminate the Sale Agreement at any time upon specified prior written notice. As of December 31, 2022, the Company has sold 2,540,348 shares of its common stock under the Sale Agreement at a weighted-average price of $ 35.19 resulting in net proceeds of approximately $ 85.9 million. Public Offering In December 2022, the Company completed the sale of an aggregate of 4,545,455 shares of its common stock in an underwritten public offering, at a price of $ 110.00 per share. The net proceeds to the Company from the offering were approximately $ 470.5 million after deducting underwriting discounts, commissions and public offering expenses payable by the Company. Equity Incentive Plan In 2017, the Company adopted the 2017 Equity Incentive Plan (the 2017 Plan), which as amended, had 5,524,354 shares of common stock reserved for issuance. Under the 2017 Plan, the Company could grant stock options, stock appreciation rights, restricted stock, restricted stock units and other awards to individuals who are employees, non-employee directors or consultants of the Company or its subsidiaries. The maximum term of the options granted under the 2017 Plan was no more than ten years . The 2017 Plan allowed for the early exercise of all stock options granted if authorized by the board of directors at the time of grant. In February 2021, the board of directors adopted, and the Company’s stockholders approved, the 2021 Incentive Award Plan (the 2021 Plan), which became effective in connection with the IPO. Pursuant to the 2021 Plan, the Company ceased granting awards under the 2017 Plan. Under the 2021 Plan, the Company may grant stock options, restricted stock, dividend equivalents, restricted stock units, stock appreciation rights, and other stock or cash-based awards to individuals who are then employees, officers, non-employee directors or consultants of the Company. The number of shares initially available for issuance under awards granted pursuant to the 2021 Plan is the sum of (1) 3,600,000 shares of common stock, plus (2) any shares subject to outstanding awards under the 2017 Plan as of the effective date of the 2021 Plan that become available for issuance under the 2021 Plan thereafter in accordance with its terms. In addition, the number of shares of common stock available for issuance under the 2021 Plan will be increased annually on the first day of each fiscal year during the term of the 2021 Plan, beginning with the 2022 fiscal year, by an amount equal to the lesser of (a) 5 % of the shares of common stock outstanding on the final day of the immediately preceding calendar year or (b) such smaller number of shares as determined by the Company’s board of directors. The number of shares of common stock available for issuance increased by 5 % at January 1, 2022, and at December 31, 2022, 1,861,545 shares remain available for issuance under the 2021 Plan, including the automatic increase of 1,948,035 on January 1, 2022. The maximum term of options granted under the 2021 Plan is ten years and grants generally vest at 25 % one year from the vesting commencement date and ratably each month thereafter for a period of 36 months, subject to continuous service. The Company’s stock option activity for the year ended December 31, 2022 is summarized in the following table: Number Weighted- Weighted- Aggregate Outstanding at December 31, 2021 6,474,039 $ 12.18 8.5 Granted 1,850,156 $ 51.98 Exercised ( 745,894 ) $ 6.70 Cancelled/forfeited ( 159,511 ) $ 24.02 Outstanding at December 31, 2022 7,418,790 $ 22.40 8.6 $ 649,964 Vested or expected to vest at December 31, 2022 7,418,790 $ 22.40 8.6 $ 649,964 Exercisable at December 31, 2022 2,646,924 $ 8.95 8.2 $ 267,517 T he aggregate intrinsic values presented in the table above were calculated as the difference between the closing price of the Company’s common stock at December 31, 2022 and the exercise price of stock options that had strike prices below the closing price. The weighted-average grant date fair value of options granted during the years ended December 31, 2022, 2021 and 2020 was $ 34.96 , $ 12.15 , and $ 5.93 respectively. The total intrinsic value of options exercised during the years ended December 31, 2022, 2021, and 2020 was $ 48.5 million , $ 2.5 million , and $ 0.3 million respectively. The grant date fair value of stock options was determined using the Black-Scholes option pricing model with the following assumptions: Year Ended December 31, 2022 2021 2020 Risk-free interest rate 1.5 – 4.2 % 0.2 – 1.4 % 0.2 – 1.4 % Expected volatility 72.5 – 74.6 % 73.0 – 95.2 % 61.5 – 71.8 % Expected term (in years) 5.5 – 6.5 5.3 – 6.1 6.1 Expected dividend yield —% —% —% Expected Term —The expected term of options granted represents the period of time that the options are expected to be outstanding. Due to the lack of historical exercise history, the expected term of the Company’s employee stock options has been determined utilizing the simplified method for awards that qualify as plain-vanilla options. Expected Volatility —The estimated volatility was based on the historical volatility of the common stock of a group of publicly traded companies deemed comparable to the Company. Risk-Free Interest Rate —The risk-free interest rate is the implied yield in effect at the time of the option grant based on U.S. Treasury securities with contract maturities similar to the expected term of the Company’s stock options. Dividend Rate —The Company has not paid any cash dividends on common stock since inception and does not anticipate paying any dividends in the foreseeable future. Consequently, an expected dividend yield of zero was used. Restricted Stock Units A summary of the Company’s restricted stock units activity is as follows (in thousands, except share and per share amounts): Number of Weighted Aggregate Intrinsic Value Balance at December 31, 2021 — Granted 252,257 $ 74.11 Cancelled ( 349 ) $ 29.56 Balance at December 31, 2022 251,908 $ 74.18 $ 27,710 Vested or expected to vest at December 31, 2022 251,908 $ 74.18 $ 27,710 The Company’s current restricted stock units vest 100 % three years from the grant date or annually over four years, subject to continued service. The fair-value of each restricted stock unit is determined on the grant date using the closing price of the Company’s common stock on the grant date. The aggregate intrinsic value of restricted stock units is the value of the shares awarded at the closing price of the Company's common stock at December 31, 2022. Early Exercise Liability The unvested shares of the early-exercised options are held in escrow until the stock option becomes fully vested or until the employee’s termination, whichever occurs first. The right to repurchase these shares lapses over the four-year vesting period. As of December 31, 2022 and 2021, the early exercise liability was approximately $ 11,000 and $ 35,000 , respectively. For accounting purposes, the early exercise of options is not considered to be a substantive exercise until the underlying awards vest. The following table summarizes the activity of the unvested common stock issued pursuant to an early exercise of stock option awards: Year Ended December 31, 2022 2021 Unvested at beginning of year 17,606 54,703 Vested during the period ( 13,439 ) ( 37,097 ) Unvested at end of year 4,167 17,606 Employee Stock Purchase Plan In February 2021, the Company’s board of directors approved the 2021 Employee Stock Purchase Plan (the ESPP), which became effective upon the pricing of the Company’s IPO on March 16, 2021. The ESPP permits participants to purchase common stock through payroll deductions of up to 20 % of their eligible compensation. Initially, a total of 360,000 shares of common stock were reserved for issuance under the ESPP. In addition, the number of shares of common stock available for issuance under the ESPP will be annually increased on the first day of each fiscal year during the term of the ESPP, beginning with the 2022 fiscal year, by an amount equal to the lessor of: (i) 1 % of the total number of shares of common stock outstanding on December 31st of the preceding calendar year; or (ii) such other amount as the Company’s board of directors may determine. The number of shares of common stock available for issuance under the ESPP increased by 1 % at January 1, 2022. Stock-based compensation expense for the years ended December 31, 2022 and 2021 related to the ESPP was $ 0.4 million and $ 0.5 million , respectively. As of December 31, 2022, the Company has issued 65,716 shares under the ESPP. The Company had an outstanding liability of $ 0.2 million at December 31, 2022, which is included in accrued compensation on the consolidated balance sheets, for employee contributions to the ESPP for shares pending issuance at the end of the offering period. At December 31, 2022, 683,891 shares remain available for issuance under the ESPP. The fair value of stock of the stock purchase right under the ESPP was determined using the Black-Scholes option pricing model with the following assumptions: Year ended December 31, 2022 2021 Risk-free interest rate 1.4 – 4.8 % 0.03 – 0.3 % Expected volatility 56.5 – 79.5 % 71.6 – 83.9 % Expected term (in years) 0.5 – 1.5 0.5 – 1.6 Expected dividend yield —% —% Stock-Based Compensation Expense The following table summarizes the components of stock-based compensation expense recognized in the accompanying consolidated statements of operations and comprehensive loss (in thousands): Year Ended December 31, 2022 2021 2020 Research and development $ 7,103 $ 1,755 $ 144 General and administrative 13,759 8,943 595 Discontinued operations — — 101 Total stock-based compensation $ 20,862 $ 10,698 $ 840 As of December 31, 2022, approximately $ 105.8 million of total unrecognized compensation expense related to stock options and restricted stock units is expected to be recognized over a weighted-average period of 3.25 years. Stock Option Modification In August 2021, in connection with the passing of the Company’s former Chairman of the board of directors, the Company fully accelerated all of the former Chairman’s outstanding equity awards, which resulted in a charge of $ 4.6 million to stock-based compensation expense for the year ended December 31, 2021. Common Stock Reserved for Future Issuance Common stock reserved for future issuance consists of the following: December 31, December 31, Common stock options issued and outstanding 7,418,790 6,474,039 Warrants to purchase common stock outstanding — 14,884 Restricted stock units 251,908 — Shares available for issuance under equity incentive plan 1,861,545 1,856,063 Shares available for issuance under the ESPP 683,891 333,850 Total 10,216,134 8,678,836

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Leases In March 2021, the Company executed a non-cancellable lease agreement for office and laboratory space in San Diego, California (“Second Floor Lease”). The Second Floor Lease and related monthly payments commenced in March 2022, and had an initial term of ten years with an option to extend the lease for an additional five-year term. The lease provides for initial monthly rental payments of approximately $ 0.2 million with rent escalation and the Company is also responsible for certain operating expenses and taxes throughout the lease term. In addition, the Company received $ 6.3 million of tenant improvements, all of which were deemed to be owned by the landlord. Under the relevant guidance, the Company recognized an operating lease right-of-use (ROU) asset and lease liability of $ 14.6 million each based on the present value of the future minimum lease payments over the lease term at the commencement date, using the Company’s assumed incremental borrowing rate, and amortizes the ROU asset and lease liability over the lease term. Lease expense for operating leases is recognized on a straight-line basis over the lease term. In October 2021, the Company executed an amendment to the lease agreement to expand the leased premises (“First Floor Lease”). The amended lease extends the initial term of the original lease to 127.5 months following the commencement date of the expansion premises, with an option to extend the lease term for an additional five-year term. In September 2022 , the Company took control of the expansion premises and the amended lease term commenced with an approximately 127.5 -month term for the expansion premises and the original premises. The Company recognized ROU assets and lease liabilities of $ 14.0 million on the Company’s condensed balance sheet related to the expansion premises. The First Floor Lease provides for initial monthly rental payments for the expansion premises of an additional approximately $ 0.2 million with rent escalation and the Company is also responsible for certain operating expenses and taxes throughout the lease term. In addition, the Company received an additional $ 6.1 million of tenant improvements for the expansion premises, all of which was deemed to be owned by the landlord. In connection with the PLI spinoff on December 31, 2020, the Company entered into a sublease agreement for approximately 40,000 square feet in the PLI facility. The sublease agreement was for one year with an option to renew for an additional year. The sublease agreement was extended for six months and expired on June 30, 2022 in accordance with its terms. No further payment obligations exist after the termination date. Information related to the Company's operating lease is as follows (in thousands): Year Ended December 31, 2022 2021 2020 Operating lease cost $ 2,304 $ — $ — Variable lease cost 464 — — Short-term lease cost 494 960 461 Total lease cost $ 3,262 $ 960 $ 461 Cash paid for amounts included in the measurement of lease liabilities $ 539 $ — $ — As of December 31, 2022 the weighted-average remaining lease term of the Company’s operating lease was 124 months and the weighted-average discount rate on the Company’s operating lease was 8.7 %. Future minimum lease payments and information related to the operating lease liability as of December 31, 2022 are as follows (in thousands): 2023 $ 3,352 2024 4,058 2025 4,180 2026 4,305 2027 4,435 Thereafter 25,989 Total lease payments 46,319 Imputed interest ( 16,781 ) Lease liability 29,538 Less current portion of lease liability 3,217 Lease liability, net of current portion $ 26,321 Litigation From time to time, the Company may become involved in legal proceedings or be subject to claims arising in the ordinary course of its business. Regardless of outcome, legal proceedings or claims can have an adverse impact on the company because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained. Indemnification Agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breech of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with officers and members of its board of directors that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. At December 31, 2022 , no claims exist under indemnification arrangements and accordingly, no amounts have been accrued in its consolidated financial statements as of December 31, 2022 .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes For the years ended December 31, 2022 and 2021 , the income tax expense from continuing operations was zero . For the year ended December 31, 2020, the income tax expense from continuing operations was $ 7,000 and is recorded in general and administrative expense in the accompanying consolidated statements of operations and comprehensive loss. A reconciliation of the Company’s effective tax rate and federal statutory tax rate related to continuing operations is summarized as follows (in thousands): Year Ended December 31, 2022 2021 2020 Income tax expense (benefit) at statutory rates $ ( 29,769 ) $ ( 18,938 ) $ ( 6,538 ) State income tax, net of federal benefit ( 10,897 ) ( 5,865 ) ( 586 ) Permanent items 33 255 ( 14 ) Change in valuation allowance 51,733 28,219 7,373 Forfeiture of state operating losses 17 42 521 Stock-based compensation ( 2,877 ) 751 82 Purchase price accretion — 101 311 Return to provision adjustment 37 ( 84 ) 293 Research and development tax credits ( 8,277 ) ( 4,481 ) ( 1,442 ) $ — $ — $ — Deferred income taxes reflect the net tax effects of loss and credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities related to continuing operations for federal and state income taxes are follows (in thousands): December 31, 2022 2021 Deferred tax assets: Net operating loss carryforward $ 49,983 $ 32,373 Capitalized research and development 21,023 — Research tax credits 15,288 7,012 Lease liability 8,276 — Stock-based compensation 3,039 1,980 Deferred revenue 4,754 1,365 Accrued and other 145 25 Total deferred tax assets 102,508 42,755 Less valuation allowance ( 94,541 ) ( 42,688 ) Net deferred tax assets 7,967 67 Deferred tax liabilities: Right-of-use asset ( 7,782 ) — Property and equipment ( 185 ) ( 67 ) Total deferred tax liabilities ( 7,967 ) ( 67 ) Net deferred tax assets $ — $ — A valuation allowance is required to be established when it is more likely than not that all or a portion of a deferred tax asset will not be realized. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. A full review of all positive and negative evidence needs to be considered. The Company has established a full valuation allowance against the net deferred tax assets as of December 31, 2022 due to the uncertainty surrounding the realization of such assets. Management determined it more likely than not that the deferred tax assets are not realizable due to our historical loss position. The valuation allowance increased by $ 51.9 million and $ 28.2 million between December 31, 2021 and December 31, 2022 and between December 31, 2020 and December 31, 2021, respectively, due primarily to the generation of current year operating losses. As of December 31, 2022 , the Company has net operating loss carryforwards for federal and state income tax purposes of $ 164.1 million and $ 222.5 million, respectively. The federal and state NOLs will begin to expire in 2036 , unless previously utilized. The federal net operating loss carryover includes $ 163.1 million of net operating losses generated in 2018 and after. Federal net operating losses generated in 2018 and after carryover indefinitely and may generally be used to offset up to 80 % of future taxable income. The Company has research credit carryforwards for federal and state income tax purposes of approximately $ 11.6 million and $ 9.4 million, respectively, as of December 31, 2022 . The federal credits begin to expire in 2040 and the state credits can be carried forward indefinitely. Pursuant to the Internal Revenue Code (IRC) Sections 382 and 383, annual use of the Company's NOL and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50 % occurs within a three-year period. The Company had an ownership change analysis completed through December 31, 2022 and determined that ownership changes there were ownership changes on May 31, 2017, September 1, 2017, September 26, 2017, May 29, 2019, March 27, 2020 and January 29, 2021. Based on the annual limitations associated with the change dates, the Company determined that all of the Company's federal and state NOLs and credits generated prior to theses change dates, with the exception of $ 968,000 federal research and development credits and $ 562,000 state NOLs, will be fully available within the carryover period, subject to an annual limitation on NOLs and credits generated prior to January 29, 2021. The Company’s research and development credits have been reduced by $ 968,000 to reflect the impact of the ownership changes and the Company’s state NOLs have been reduced by $ 562,000 . Due to the existence of a full valuation allowance offsetting the credit, the reduction to the carryover balance did not impact the Company’s effective tax rate. The Company's use of federal and state NOL and credit carryforwards could be further limited by the provisions of section 382 depending on the timing and amount of additional equity securities that have or will be issued subsequent to December 31, 2022. If an ownership change(s) occur subsequent to December 31, 2022 the amount of remaining tax attribute carryforwards available to offset taxable income and income tax expense in future years may be restricted or eliminated. If eliminated, the related asset would be removed from deferred tax assets with a corresponding reduction in the valuation allowance. Due to the existence of the valuation allowance, limitations created by future ownership changes, if any, will not impact the Company's effective tax rate. The Company recognizes a tax benefit from uncertain tax positions when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more likely than not recognition at the effective date to be recognized. Due to the existence of the full valuation allowance, future changes in unrecognized tax benefits will not impact the Company’s effective tax rate. The Company does not foresee material changes to its liability for uncertain tax benefits within the next 12 months. The following table summarizes the activity in the Company’s gross unrecognized tax benefits (in thousands): December 31, 2022 2021 Balance at beginning of period $ 1,949 $ 697 Increase (decrease) related to prior year positions — ( 186 ) Increase related to current year positions 2,271 1,438 Balance at the end of the year $ 4,220 $ 1,949 The Company’s policy is to recognize interest and penalties related to income tax matters in the provision. During the years ended December 31, 2022 and 2021 , no interest or penalties were required to be recognized relating for unrecognized tax benefits. The Company files tax returns in the United States and California. The Company is not currently under examination in any of these jurisdictions and all of the Company’s tax years remain effectively open to examination due to net operating loss carryforwards. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The Cares Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a nationwide effort to curtail the effect of COVID-19. While the CARES Act provides sweeping tax changes in response to the COVID-19 pandemic, some of the more significant provisions which are expected to impact the Company’s financial statements include removal of certain limitations on utilization of net operating losses, increasing the loss carryback period for certain losses to five years , and increasing the ability to deduct interest expense, as well as amending certain provisions of the previously enacted Tax Cuts and Jobs Act. Due to the loss position of the U.S. entities, many provisions of the CARES Act do not impact the Company and the CARES Act did not have an impact on the Company’s income tax provision for the years ended December 31, 2022 or 2021. The Inflation Reduction Act 2022 which incorporates a Corporate Alternative Minimum Tax (CAMT) was signed on August 16, 2022. The changes will affect for the tax years beginning after December 31, 2022. The new tax will require companies to compute two separate calculations for federal income tax purposes and pay the greater of the new minimum tax or their regular tax liability. The Company will be monitoring the impacts of the act to determine if this will have a impact for the Company for years beginning after December 31, 2022. As of year end, it is not expected to have a material impact for the Company.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions As discussed in Note 6, in September 2017, the Company entered into the Cedars-Sinai Agreement. A related-party relationship exists with Cedars-Sinai due to its percentage of common stock ownership and representation on the Company’s board of directors. As consideration for the license rights, the Company issued (i) 257,500 common stock shares at par value of $ 0.0001 per share, and (ii) 335,000 unvested restricted common stock shares at par value of $ 0.0001 per share. The parties also entered into additional license agreements as well as research agreements, under which the parties can provide research services to each other at pricing specified in the individual statements of work. During the year ended December 31, 2022 , the Company incurred $ 0.1 million in costs under the research agreements. During the years ended December 31, 2021 and 2020 , no services were provided under the research agreements. During the year ended December 31, 2021, the Company incurred compensation related expenses for one employee who is an immediate family member of a former member of the Company’s board of directors. These expenses totaled $ 0.8 million for the year ended December 31, 2021, which is included in in research and development expenses in the accompanying consolidated statements of operations and comprehensive loss. During the year ended December 31, 2020, the Company incurred compensation related expenses for two employees, each of whom is an immediate family member of a different former member of the Company’s board of directors. These expenses totaled $ 0.8 million for the year ended December 31, 2020, respectively, of which $ 0.2 million is included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss and $ 0.6 million is included in research and development expenses, respectively. The Company has an ongoing collaboration with Regents of the University of California, where a former member of its board of directors was employed until April 2021. During the year ended December 31, 2021, the Company incurred $ 0.5 million in expense related to this collaboration that was recorded in research and development expenses in the accompanying consolidated statement of operations for the year ended December 31, 2021. During the year ended December 31, 2020, the Company incurred $ 0.3 million in expense related to this collaboration that was recorded in Loss from discontinued operations in the accompanying consolidated statements of operations and comprehensive loss for the year ended December 31, 2020. As disclosed in Note 7, in January 2021, deferred purchase price obligations of $ 6.1 million due to Nestlé was satisfied with the issuance of 7,219,560 shares of Series D-2 convertible preferred stock in January 2021. As a result of the PLI spinoff on December 31, 2020, the Company entered into a transition services agreement under which it assumed a $ 1.1 million liability related to the payout of PLI employee bonuses for the year ended December 31, 2020, which was paid in the year ended December 31, 2021. As of December 31, 2022, the related party liability amount is $ 0.2 million and is included in accrued expenses and other current liabilities within the accompanying consolidated balance sheets. Additionally, pursuant to this agreement, the Company provided PLI certain transitional services, including general and administrative, finance and clinical operations support, and PLI provided the Company with certain transitional services, including providing for the use of facilities under a sublease, in each case for specified monthly service fees. The transition services agreement was terminated in June 2022. During the years ended December 31, 2022 and 2021 the Company paid PLI $ 1.5 million and $ 3.8 million, respectively, in accordance with the terms of this agreement.

401(K) Plan

401(K) Plan	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
401(K) Plan	13. 401(K) Plan Effective January 1, 2018, the Company maintains a defined contribution 401(k) plan available to eligible employees. Employee contributions are voluntary and are determined on an individual basis, limited to the maximum amount allowable under federal tax regulations. The Company, at its discretion, may make certain contributions to the 401(k) plan. Company contributions made during each of the years ended December 31, 2022, 2021, and 2020 were $ 1.0 million, $ 0.3 million and $ 45,000 , respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events In January 2023, the underwriters of the Company's December 2022 public offering exercised an option granted under the terms of the underwriting agreement to purchase an additional 483,256 shares of the Company's common stock at $ 110.00 per share. The exercise of the option resulted in net proceeds of $ 50.1 million to the Company after deducting for offering costs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimate	Basis of Presentation and Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions. On December 31, 2020, the Company completed the spinoff of PLI. The results of operations for all periods presented have been presented as discontinued operations in the accompanying consolidated financial statements in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations . Unless otherwise noted, discussion within these notes to the consolidated financial statements relates to continuing operations (see Note 7 for additional information on discontinued operations). On an ongoing basis, management evaluates its estimates, primarily related to revenue recognition, stock-based compensation, marketable securities, accrued research and development costs, and the incremental borrowing rate for lease liabilities. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Estimates relating to the valuation of stock require the selection of appropriate valuation methodologies and models, and significant judgment in evaluating ranges of assumptions and financial inputs.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and until December 31, 2020, the date at which the spinoff was completed, its wholly-owned subsidiary, PLI and have been prepared in conformity with GAAP. All intercompany accounts and transactions have been eliminated in consolidation.
Segment Reporting	Segment Reporting The Company’s Chief Executive Officer, who is considered to be the chief operating decision maker (CODM), reviews financial information presented on a consolidated basis, accompanied by information about operating segments for purposes of making operating decisions and assessing financial performance. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the CODM in deciding how to allocate resources and in assessing performance. Prior to the spinoff of PLI in December 2020, the Company determined its operating segments to be the therapeutics and diagnostic services businesses. The therapeutics business derives substantially all of its revenue from collaboration agreements and devotes all of its efforts to development of product candidates and diagnostics in the IBD space. The diagnostic services business, which is recorded as a discontinued operations, derives its revenue from diagnostic services in the IBD space generated from the conduct of laboratory developed tests. Subsequent to the spinoff, the Company operates in one segment. The Company operates solely in the United States.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The cash and cash equivalents balance at December 31, 2022 and 2021 represent cash in readily available checking accounts, money market accounts, and commercial paper.
Marketable Securities	Marketable Securities The Company’s marketable securities primarily consist of commercial paper, corporate debt securities, and U.S. government and agency securities classified within cash and cash equivalents and short-term investments depending on their maturity date at the time of purchase. The Company classifies its marketable securities as available-for-sale and records such assets at estimated fair value in the consolidated balance sheets, with unrealized gains and losses, if any, reported as a component of other comprehensive income (loss) within the consolidated statements of operations and comprehensive loss and as a separate component of stockholders’ equity. The Company classifies marketable securities with remaining maturities greater than one year as current assets because such marketable securities are available to fund the Company’s current operations. Realized gains and losses are calculated on the specific identification method and recorded as interest income (loss). There were no realized gains and losses from sales of marketable securities during any of the periods presented. At each balance sheet date, the Company assesses available-for-sale securities in an unrealized loss position to determine whether the unrealized loss is other-than-temporary. When the Company determines that a decline in the fair value below its cost basis is other-than-temporary, the Company recognizes an impairment loss in the period in which the other-than-temporary decline occurred. There have been no other-than-temporary impairments recognized during any of the periods presented. The Company excludes accrued interest from the fair value and amortized cost basis of marketable securities. As of December 31, 2022 , $ 1.1 million of accrued interest receivable related to marketable securities has been recorded in prepaid expenses and other current assets within the accompanying consolidated balance sheets.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash, cash equivalents, short-term investments, and accounts receivable. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.
Accounts Receivable	Accounts Receivable Accounts receivable is stated at the original invoice amount and consists of certain research and development and contract manufacturing costs subject to reimbursement under the Company’s collaboration agreements. The Company did no t record any credit losses as of December 31, 2022 and 2021 .
Property and Equipment, Net	Property and Equipment, Net Property and equipment is stated at cost less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the related assets, which ranges from two to ten years . Repairs and maintenance charges that do not increase the useful life of the assets are charged to operating expenses as incurred.
Leases	Leases At the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. Lease terms are determined at the commencement date by considering whether renewal options and termination options are reasonably assured of exercise. For its long-term operating leases, the Company recognizes a lease liability and a right-of-use (“ROU”) asset on its balance sheets and recognizes lease expense on a straight-line basis over the lease term. The lease liability is determined as the present value of future lease payments using the discount rate implicit in the lease or, if the implicit rate is not readily determinable, an estimate of the Company’s incremental borrowing rate. The ROU asset is based on the lease liability, adjusted for any prepaid or deferred rent. The Company aggregates all lease and non-lease components for each class of underlying assets into a single lease component and variable charges for common area maintenance and other variable costs are recognized as expenses as incurred. The Company has elected to not recognize a lease liability or ROU asset in connection with short-term operating leases and recognizes lease expense for short-term operating leases on a straight-line basis over the lease term. The Company does not have any finance leases.
Long-Lived Assets	Long-Lived Assets The Company’s long-lived assets are comprised principally of its property and equipment. If the Company identifies a change in the circumstances related to its long-lived assets that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (ASC 606). In accordance with ASC 606, the Company performs the following steps in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of these agreements: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when, or as, the Company satisfies each performance obligation. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. To date, all of the Company’s collaboration revenue has been derived from its collaboration agreement with Dr. Falk Pharma GmbH and its collaboration agreement with Millennium Pharmaceuticals, Inc., a subsidiary of Takeda Pharmaceutical Company Limited (collectively, Takeda) as described in Note 6. The terms of these arrangements include the following types of payments to the Company: non-refundable, up-front license fees; development, regulatory and commercial milestone payments; payments for research and development services provided by the Company; and royalties on net sales of licensed products. At the initiation of an agreement, the Company analyzes whether each unit of account results in a contract with a customer under ASC 606 or in an arrangement with a collaborator subject to guidance under ASC 808, Collaborative Arrangements (ASC 808). The Company considers a variety of factors in determining the appropriate estimates and assumptions under these arrangements, such as whether the elements are distinct performance obligations, whether there are observable stand-alone prices, and whether any licenses are functional or symbolic. The Company evaluates each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, license fees, non-refundable upfront fees, and funding of research activities are considered fixed, while milestone payments are identified as variable consideration which must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. The Company estimates the amount of variable consideration using the most likely amount, as milestone payments typically only have two possible outcomes. The Company recognizes revenue for sales-based royalty promised in exchange for the license of intellectual property only when the subsequent sale occurs. Any cumulative effect of revisions to estimated costs to complete the Company’s performance obligation will be recorded in the period in which changes are identified and amounts can be reasonably estimated. This approach requires the Company to use significant judgement and make estimates of future expenditures. If the Company’s estimates or judgements change over the course of the collaboration, they may affect the timing and amount of revenue that it recognizes in the current and future periods. The Company may allocate transaction price using a number of methods including estimating standalone selling price of performance obligations and using the residual approach when the standalone selling price of the license is highly variable or uncertain, and observable standalone selling prices exist for the other goods or services promised in the contract. The Company receives payments from its collaborators based on terms established in each contract. Upfront payments and other payments may require deferral of revenue recognition to a future period until the Company is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the payment by the customer is akin to a deposit for research and development services.
Research and Development and Clinical Trial Accruals	Research and Development and Clinical Trial Accruals Research and development costs are charged to expense as incurred. Research and development expenses include certain payroll and personnel expenses, laboratory supplies, consulting costs, external contract research and development expenses, costs related to manufacturing the Company’s product candidates for clinical trials and preclinical studies, and allocated overhead, including rent, information technology, property and equipment depreciation and utilities. Advance payments for goods or services for future research and development activities are deferred and expensed as the goods are delivered or the related services are performed. The Company estimates preclinical studies and clinical trial expenses based on the services performed pursuant to contracts with research institutions and clinical research organizations that conduct and manage preclinical studies and clinical trials on the Company’s behalf. In addition, clinical study and trial materials are manufactured by contract manufacturing organizations. In accruing for these services, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. These estimates are based on communications with the third-party service providers and the Company’s estimates of accrued expenses and on information available at each balance sheet date. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly.
Patent Costs	Patent Costs Costs related to filing and pursuing patent applications are recorded as general and administrative expense in the accompanying consolidated statements of operations and comprehensive loss and are expensed as incurred since recoverability of such expenditures is uncertain.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability.
Stock-Based Compensation	Stock-Based Compensation The Company expenses stock-based compensation to employees and non-employees related to stock options, restricted stock units, and shares granted under the Company’s 2021 Employee Stock Purchase Plan (the ESPP). Stock-based compensation expense represents the cost of the grant date fair value of applicable awards recognized over the requisite service period (usually the vesting period) on a straight-line basis, net of actual forfeitures during the period. The Company estimates the fair value of stock options and shares purchased under the ESPP using the Black-Scholes option pricing model, and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Stock-based compensation expense related to restricted stock units is determined based upon the fair market value of the Company’s stock on the grant date.
Valuation of Common Stock	Valuation of Common Stock Prior to the IPO, given the absence of a public trading market for the Company’s common stock, the Company's board of directors exercised their judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of the Company’s common stock, such as: contemporaneous valuations performed by independent third-party specialists, its stage of development, including the status of its research and development efforts of its product candidates, the material risks related to its businesses and industry, its results of operations before discontinued operations and financial position, including its levels of capital resources, the prices at which its sold shares of its convertible preferred stock, the rights, preferences and privileges of its convertible preferred stock relative to those of its common stock, the conditions in the biotechnology industry and the economy in general, the stock price performance and volatility of comparable life sciences public companies, as well as recently completed mergers and acquisitions of peer companies, the likelihood of achieving a liquidity event for the holders of its common stock or convertible preferred stock, such as an IPO or a sale of the Company given prevailing market conditions, trends and developments in its industry, external market conditions affecting the life sciences and biotechnology sectors, and the lack of liquidity of its common stock, among other factors. After the completion of the IPO, the fair value of each share of common stock is based on the closing price of the Company’s common stock as reported by the Nasdaq Global Select Market.
Preferred Stock Purchase Right Liabilities	Preferred Stock Purchase Right Liabilities The Company entered into convertible preferred stock financings where, in addition to the initial closing, investors agreed to buy, and the Company agreed to sell, additional shares of that convertible preferred stock at a fixed price in the event that certain conditions are met or agreed upon milestones are achieved. The Company evaluated this purchase right and assessed whether it met the definition of a freestanding instrument and, if so, determined the fair value of the purchase right liability and recorded it on the balance sheet with the remainder of the proceeds raised allocated to convertible preferred stock. The preferred stock purchase right liability was revalued at each reporting period with changes in the fair value of the liability recorded as change in fair value of preferred stock purchase right liability in the consolidated statements of operations and comprehensive loss. Upon the issuance of the shares of Series D-2 convertible preferred stock in January 2021, the preferred stock purchase right liability no longer required liability accounting and the then fair value of the preferred stock purchase right liability was reclassified into stockholders’ equity. The Company performed the final remeasurement of the preferred stock purchase right liability as of the issuance of the shares of Series D-2 convertible preferred stock and recorded a $ 1.0 million change in fair value into other income (expense) for the year ended December 31, 2021 .
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby (1) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability.
Net Loss Per Share	Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. The Company has excluded 9,681 , 32,381 and 145,046 weighted-average shares subject to repurchase or forfeiture from the weighted-average number of common shares outstanding for the years ended December 31, 2022, 2021, and 2020, respectively. Dilutive common stock equivalents are comprised of convertible preferred stock, options and restricted stock units outstanding under the Company’s stock option plan, warrants to purchase common or convertible preferred stock and ESPP shares pending issuance. Basic and diluted net loss attributable to common holders per share is presented in conformity with the two- class method required for participating securities as the convertible preferred stock are considered participating securities. The Company’s participating securities do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Accordingly, for the years ended December 31, 2022, 2021, and 2020 there is no difference in the number of shares used to calculate basic and diluted shares outstanding. Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares): December 31, 2022 2021 2020 Convertible preferred stock outstanding — — 16,086,426 Common stock options issued and outstanding 7,418,790 6,474,039 2,930,248 Restricted stock units 251,908 — — Warrants to purchase common stock outstanding — 14,884 — Warrants to purchase convertible preferred stock outstanding — — 11,250 ESPP shares pending issuance 5,561 7,187 — Total 7,676,259 6,496,110 19,027,924
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources, including unrealized gains and losses on marketable securities. Comprehensive gains (losses) have been reflected in the statements of operations and comprehensive loss for all periods presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting standards are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Potentially Dilutive Securities Not Included in Calculation of Diluted Net Loss Per Share	Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares): December 31, 2022 2021 2020 Convertible preferred stock outstanding — — 16,086,426 Common stock options issued and outstanding 7,418,790 6,474,039 2,930,248 Restricted stock units 251,908 — — Warrants to purchase common stock outstanding — 14,884 — Warrants to purchase convertible preferred stock outstanding — — 11,250 ESPP shares pending issuance 5,561 7,187 — Total 7,676,259 6,496,110 19,027,924

Fair Value Measurements and F_2

Fair Value Measurements and Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following table summarizes the Company's financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Measurements At Total Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs As of December 31, 2022 Assets: Cash and cash equivalents: Money market funds $ 182,337 $ 182,337 $ — $ — Commercial paper 66,680 — 66,680 — Total cash and cash equivalents $ 249,017 $ 182,337 $ 66,680 $ — Short-term investments: Commercial paper $ 235,772 $ — $ 235,772 $ — Corporate debt securities 17,801 — 17,801 — U.S. government and agency securities 149,756 17,755 132,001 — Total short-term investments $ 403,329 $ 17,755 $ 385,574 $ — Total assets measured at fair value $ 652,346 $ 200,092 $ 452,254 $ —
Summary of Assumptions Used in Black-Scholes Option Pricing Model	The assumptions used in the Black-Scholes option pricing model to determine the fair value of the convertible preferred stock warrant liability at the date of the IPO were as follows: IPO Date Fair value of underlying preferred stock $ 1.90 Risk-free interest rate 1.70 % Expected volatility 70.00 % Expected term (in years) 9.0 Expected dividend yield —%
Summary of Activity of Financial Instruments	The following table summarizes the activity of the financial instruments valued using Level 3 inputs (in thousands): Acquisition-related Consideration Held in Escrow Convertible Series D Balance at December 31, 2019 $ 3,500 $ — $ — Acquisition-related consideration released from escrow ( 3,500 ) — — Issuance of Series C convertible preferred stock warrants — 79 — Issuance of Series D convertible preferred stock purchase right liability — — 3,900 Change in fair value — ( 15 ) — Balance at December 31, 2020 — 64 3,900 Change in fair value — 105 980 Conversion/Settlement during 2021 — ( 169 ) ( 4,880 ) Balance at December 31, 2021 $ — $ — $ —

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summarize Marketable Securities	The following table summarizes marketable securities (in thousands): As of December 31, 2022 Unrealized Maturity (in years) Amortized Unrealized Gains Unrealized Losses Estimated Cash and cash equivalents: Money market funds $ 182,337 $ — $ — $ 182,337 Commercial paper 1 or less 66,666 14 — 66,680 Total cash and cash equivalents $ 249,003 $ 14 $ — $ 249,017 Short-term investments: Commercial paper 1 or less $ 235,945 $ — $ ( 173 ) $ 235,772 Corporate debt securities 1 or less 17,805 — ( 4 ) 17,801 U.S. government and agency securities 2 or less 150,022 — ( 266 ) 149,756 Total short-term investments $ 403,772 $ — $ ( 443 ) $ 403,329 Total marketable securities $ 652,775 $ 14 $ ( 443 ) $ 652,346

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	12 Months Ended
	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): December 31, December 31, Prepaid clinical trial expenses $ 4,015 $ 1,397 Prepaid contract manufacturing expenses 2,898 3,808 Prepaid research and development expenses 2,251 627 Other prepaid expenses 2,206 1,218 Total $ 11,370 $ 7,050
Schedule of Property and Equipment, Net	Property and Equipment, Net Property and equipment, net, consist of the following (in thousands): December 31, December 31, Laboratory equipment $ 3,281 $ 1,830 Computer equipment 759 — Office equipment and furniture 873 24 4,913 1,854 Less accumulated depreciation ( 1,036 ) ( 407 ) Total $ 3,877 $ 1,447
Schedule of Accrued Compensation	Accrued Compensation Accrued compensation consist of the following (in thousands): December 31, December 31, Accrued bonuses $ 4,609 $ 5,024 Accrued salaries and payroll taxes 31 64 Accrued ESPP 179 129 Accrued severance — 161 Total $ 4,819 $ 5,378
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): December 31, December 31, Accrued clinical trial expenses $ 4,407 $ 1,999 Accrued contract manufacturing expenses 4,065 906 Accrued research and development expenses 2,958 2,123 Accrued legal expenses 371 531 Payable to PLI 193 193 Unvested early exercise liability 11 35 Accrued other 716 456 Total $ 12,721 $ 6,243

Collaboration and License Agr_2

Collaboration and License Agreements (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Reconciliation of Deferred Revenue	A reconciliation of deferred revenue related to the Falk and Takeda agreements for the years ended December 31, 2022 and 2021 is as follows (in thousands): Falk Takeda Total Balance at December 31, 2019 $ — $ 1,542 $ 1,542 Amounts received 5,200 960 6,160 Revenue recognized ( 437 ) ( 792 ) ( 1,229 ) Balance at December 31, 2020 4,763 1,710 6,473 Amounts received/credited 16,678 ( 150 ) 16,528 Revenue recognized ( 2,750 ) ( 379 ) ( 3,129 ) Balance at December 31, 2021 18,691 1,181 19,872 Amounts received 3,902 — 3,902 Revenue recognized ( 5,628 ) ( 1,181 ) ( 6,809 ) Balance at December 31, 2022 $ 16,965 $ — $ 16,965

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Major Line Items Constituting the Loss reflected in Accompanying Consolidated Statements of Operations and Comprehensive Loss	The major line items constituting the loss of PLI for the year ended December 31, 2020, which are reflected in the accompanying consolidated statements of operations and comprehensive loss as discontinued operations, are as follows: Year Ended December 31, 2020 Diagnostic services revenue $ 36,593 Operating expenses: Cost of diagnostic services revenue 12,625 Research and development 4,956 Sales and marketing 10,993 General and administrative 9,885 Restructuring 2,260 Amortization of intangible assets 1,179 Goodwill impairment charge 724 Total operating expenses 42,622 Loss from discontinued operations ( 6,029 ) Interest income 30 Loss from discontinued operations, net of taxes $ ( 5,999 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Summary of Stock Option Activity	The Company’s stock option activity for the year ended December 31, 2022 is summarized in the following table: Number Weighted- Weighted- Aggregate Outstanding at December 31, 2021 6,474,039 $ 12.18 8.5 Granted 1,850,156 $ 51.98 Exercised ( 745,894 ) $ 6.70 Cancelled/forfeited ( 159,511 ) $ 24.02 Outstanding at December 31, 2022 7,418,790 $ 22.40 8.6 $ 649,964 Vested or expected to vest at December 31, 2022 7,418,790 $ 22.40 8.6 $ 649,964 Exercisable at December 31, 2022 2,646,924 $ 8.95 8.2 $ 267,517
Summary of Grant Date Fair Value of Stock Options	The grant date fair value of stock options was determined using the Black-Scholes option pricing model with the following assumptions: Year Ended December 31, 2022 2021 2020 Risk-free interest rate 1.5 – 4.2 % 0.2 – 1.4 % 0.2 – 1.4 % Expected volatility 72.5 – 74.6 % 73.0 – 95.2 % 61.5 – 71.8 % Expected term (in years) 5.5 – 6.5 5.3 – 6.1 6.1 Expected dividend yield —% —% —%
Summary of Restricted Stock Units Activity	A summary of the Company’s restricted stock units activity is as follows (in thousands, except share and per share amounts): Number of Weighted Aggregate Intrinsic Value Balance at December 31, 2021 — Granted 252,257 $ 74.11 Cancelled ( 349 ) $ 29.56 Balance at December 31, 2022 251,908 $ 74.18 $ 27,710 Vested or expected to vest at December 31, 2022 251,908 $ 74.18 $ 27,710
Summary of Activity Unvested Common Stock Issued Pursuant Early Exercise of Stock Options Awards	The following table summarizes the activity of the unvested common stock issued pursuant to an early exercise of stock option awards: Year Ended December 31, 2022 2021 Unvested at beginning of year 17,606 54,703 Vested during the period ( 13,439 ) ( 37,097 ) Unvested at end of year 4,167 17,606
Summary of Fair Value of Stock of the Stock Purchase Right Under ESPP	The fair value of stock of the stock purchase right under the ESPP was determined using the Black-Scholes option pricing model with the following assumptions: Year ended December 31, 2022 2021 Risk-free interest rate 1.4 – 4.8 % 0.03 – 0.3 % Expected volatility 56.5 – 79.5 % 71.6 – 83.9 % Expected term (in years) 0.5 – 1.5 0.5 – 1.6 Expected dividend yield —% —%
Summary of Stock-based Compensation Expense	The following table summarizes the components of stock-based compensation expense recognized in the accompanying consolidated statements of operations and comprehensive loss (in thousands): Year Ended December 31, 2022 2021 2020 Research and development $ 7,103 $ 1,755 $ 144 General and administrative 13,759 8,943 595 Discontinued operations — — 101 Total stock-based compensation $ 20,862 $ 10,698 $ 840
Summary of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consists of the following: December 31, December 31, Common stock options issued and outstanding 7,418,790 6,474,039 Warrants to purchase common stock outstanding — 14,884 Restricted stock units 251,908 — Shares available for issuance under equity incentive plan 1,861,545 1,856,063 Shares available for issuance under the ESPP 683,891 333,850 Total 10,216,134 8,678,836

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Information Related to Operating Lease	Information related to the Company's operating lease is as follows (in thousands): Year Ended December 31, 2022 2021 2020 Operating lease cost $ 2,304 $ — $ — Variable lease cost 464 — — Short-term lease cost 494 960 461 Total lease cost $ 3,262 $ 960 $ 461 Cash paid for amounts included in the measurement of lease liabilities $ 539 $ — $ —
Future Minimum Lease Payments and Information Related to Operating Lease Liability	Future minimum lease payments and information related to the operating lease liability as of December 31, 2022 are as follows (in thousands): 2023 $ 3,352 2024 4,058 2025 4,180 2026 4,305 2027 4,435 Thereafter 25,989 Total lease payments 46,319 Imputed interest ( 16,781 ) Lease liability 29,538 Less current portion of lease liability 3,217 Lease liability, net of current portion $ 26,321

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate	A reconciliation of the Company’s effective tax rate and federal statutory tax rate related to continuing operations is summarized as follows (in thousands): Year Ended December 31, 2022 2021 2020 Income tax expense (benefit) at statutory rates $ ( 29,769 ) $ ( 18,938 ) $ ( 6,538 ) State income tax, net of federal benefit ( 10,897 ) ( 5,865 ) ( 586 ) Permanent items 33 255 ( 14 ) Change in valuation allowance 51,733 28,219 7,373 Forfeiture of state operating losses 17 42 521 Stock-based compensation ( 2,877 ) 751 82 Purchase price accretion — 101 311 Return to provision adjustment 37 ( 84 ) 293 Research and development tax credits ( 8,277 ) ( 4,481 ) ( 1,442 ) $ — $ — $ —
Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities related to continuing operations for federal and state income taxes are follows (in thousands): December 31, 2022 2021 Deferred tax assets: Net operating loss carryforward $ 49,983 $ 32,373 Capitalized research and development 21,023 — Research tax credits 15,288 7,012 Lease liability 8,276 — Stock-based compensation 3,039 1,980 Deferred revenue 4,754 1,365 Accrued and other 145 25 Total deferred tax assets 102,508 42,755 Less valuation allowance ( 94,541 ) ( 42,688 ) Net deferred tax assets 7,967 67 Deferred tax liabilities: Right-of-use asset ( 7,782 ) — Property and equipment ( 185 ) ( 67 ) Total deferred tax liabilities ( 7,967 ) ( 67 ) Net deferred tax assets $ — $ —
Summary of Gross Unrecognized Tax Benefits	The following table summarizes the activity in the Company’s gross unrecognized tax benefits (in thousands): December 31, 2022 2021 Balance at beginning of period $ 1,949 $ 697 Increase (decrease) related to prior year positions — ( 186 ) Increase related to current year positions 2,271 1,438 Balance at the end of the year $ 4,220 $ 1,949

Organization - Additional Infor

Organization - Additional Information (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Mar. 16, 2021 USD ($) $ / shares shares	Mar. 05, 2021	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Mar. 31, 2021 shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation			Oct. 26, 2016
Percentage of spinoff in kind distribution					100%
Description of reverse stock split			Company effected a one-for-ten reverse stock split of the Company’s common stock
Reverse stock split, conversion ratio		0.1
Proceeds from sale of common stock in initial public offering | $				$ 218,500
Offering-related transaction costs | $					$ 23
Common stock, shares authorized	400,000,000		400,000,000	400,000,000		400,000,000
Preferred stock, shares authorized	40,000,000		40,000,000	40,000,000		40,000,000
Accumulated deficit | $			$ 331,093	$ 189,341
Convertible Preferred Stock
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Warrant to purchase of convertible preferred stock	148,848
Common Stock
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of common stock, shares			7,085,803	11,500,000
Conversion of convertible preferred stock into common stock at initial public offering, shares				25,485,955
Common Stock | Convertible Preferred Stock
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Conversion of convertible preferred stock into common stock at initial public offering, shares	25,485,955
Common Stock | Convertible Preferred Stock Warrant Liability
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Conversion of convertible preferred stock into common stock at initial public offering, shares	14,884
IPO
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of common stock, shares	11,500,000
Common stock price per share | $ / shares	$ 19
Gross proceeds from issuance initial public offering | $	$ 218,500
Proceeds from sale of common stock in initial public offering | $	199,800
Payments of underwriting discounts and commissions | $	15,300
Offering-related transaction costs | $	$ 3,400
Underwriters
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of common stock, shares	1,500,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Segment shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | Segment	1
Allowance for doubtful accounts	$ 0	$ 0
Weighted-average shares subject to repurchase or forfeiture | shares	9,681	32,381	145,046
Realized gains and losses	$ 0
Other-than-temporary impairments	0
Prepaid Expenses and Other Current Assets
Summary Of Significant Accounting Policies [Line Items]
Accrued interest receivable	$ 1,100,000
Series D-2 Convertible Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Change in fair value into other income (expense)		$ 1,000,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	2 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Potentially Dilutive Securities Not Included in Calculation of Diluted Net Loss Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	7,676,259	6,496,110	19,027,924
Convertible Preferred Stock Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total			16,086,426
Common Stock Options Issued and Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	7,418,790	6,474,039	2,930,248
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	251,908
Warrants to Purchase Common Stock Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total		14,884
Warrants to Purchase Convertible Preferred Stock Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total			11,250
ESPP Shares Pending Issuance
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	5,561	7,187

Fair Value Measurements and F_3

Fair Value Measurements and Fair Value of Financial Instruments - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring $ in Thousands	Dec. 31, 2022 USD ($)
Cash and cash equivalents:
Total cash and cash equivalents	$ 249,017
Short-Term Investments [Abstract]
Total short term investments	403,329
Total assets measured at fair value	652,346
Quoted Prices in Active Markets For Identical Assets (Level 1)
Cash and cash equivalents:
Total cash and cash equivalents	182,337
Short-Term Investments [Abstract]
Total short term investments	17,755
Total assets measured at fair value	200,092
Significant Other Observable Inputs (Level 2)
Cash and cash equivalents:
Total cash and cash equivalents	66,680
Short-Term Investments [Abstract]
Total short term investments	385,574
Total assets measured at fair value	452,254
Corporate debt securities
Short-Term Investments [Abstract]
Total short term investments	17,801
Corporate debt securities | Significant Other Observable Inputs (Level 2)
Short-Term Investments [Abstract]
Total short term investments	17,801
Money market funds
Cash and cash equivalents:
Total cash and cash equivalents	182,337
Money market funds | Quoted Prices in Active Markets For Identical Assets (Level 1)
Cash and cash equivalents:
Total cash and cash equivalents	182,337
Commercial paper
Cash and cash equivalents:
Total cash and cash equivalents	66,680
Short-Term Investments [Abstract]
Total short term investments	235,772
Commercial paper | Significant Other Observable Inputs (Level 2)
Cash and cash equivalents:
Total cash and cash equivalents	66,680
Short-Term Investments [Abstract]
Total short term investments	235,772
U.S. government and agency securities
Short-Term Investments [Abstract]
Total short term investments	149,756
U.S. government and agency securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Short-Term Investments [Abstract]
Total short term investments	17,755
U.S. government and agency securities | Significant Other Observable Inputs (Level 2)
Short-Term Investments [Abstract]
Total short term investments	$ 132,001

Fair Value Measurements and F_4

Fair Value Measurements and Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Transfers within Level 3 hierarchy	$ 0	$ 0
Transfers within Level 3 hierarchy	$ 0
Change in fair value		$ 1,000
Operating lease, weighted average remaining lease term	124 years
Expected Risk-Free Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input			0.0009
Probability of Tranche
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input			0.800
Expected Volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input			0.800

Fair Value Measurements and F_5

Fair Value Measurements and Fair Value of Financial Instruments - Summary of Assumptions Used in Black-Scholes Option Pricing Model (Details)	Mar. 16, 2021 $ / shares	Jan. 31, 2021
Convertible Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair value of underlying preferred stock	$ 1.90
Expected Risk-Free Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input		0.0009
Expected Risk-Free Rate | Convertible Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	0.0170
Expected Volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input		0.800
Expected Volatility | Convertible Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	0.7000
Expected Term | Convertible Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	9 years

Fair Value Measurements and F_6

Fair Value Measurements and Fair Value of Financial Instruments - Summary of Activity of Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Change in fair value	$ 1,000
Acquisition Related Consideration Held in Escrow
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance		$ 3,500
Acquisition-related consideration released from escrow		(3,500)
Convertible Preferred Stock Warrant Liability
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	64
Issuance of Series C convertible preferred stock warrants		79
Change in fair value	105	(15)
Conversion/Settlement during 2021	169
Ending Balance		64
Series D Convertible Preferred Stock Warrant Liability
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	3,900
Issuance of Series D convertible preferred stock purchase right liability		3,900
Change in fair value	980
Conversion/Settlement during 2021	$ 4,880
Ending Balance		$ 3,900

Marketable Securities - Summari

Marketable Securities - Summarize Marketable Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Marketable Securities [Line Items]
Marketable securities, Amortized Cost	$ 652,775
Marketable securities, Gross Unrealized Gain	14
Marketable securities, Gross Unrealized Losses	(443)
Marketable securities, Estimated Fair Value	652,346
Money market funds
Marketable Securities [Line Items]
Marketable securities, Amortized Cost	182,337
Marketable securities, Estimated Fair Value	$ 182,337
Commercial paper
Marketable Securities [Line Items]
Marketable securities, Maturity (in years)	1 or less
Marketable securities, Amortized Cost	$ 66,666
Marketable securities, Gross Unrealized Gain	14
Marketable securities, Estimated Fair Value	$ 66,680
Commercial paper
Marketable Securities [Line Items]
Marketable securities, Maturity (in years)	1 or less
Marketable securities, Amortized Cost	$ 235,945
Marketable securities, Gross Unrealized Losses	(173)
Marketable securities, Estimated Fair Value	$ 235,772
Corporate debt securities
Marketable Securities [Line Items]
Marketable securities, Maturity (in years)	1 or less
Marketable securities, Amortized Cost	$ 17,805
Marketable securities, Gross Unrealized Losses	(4)
Marketable securities, Estimated Fair Value	$ 17,801
U.S. government and agency securities
Marketable Securities [Line Items]
Marketable securities, Maturity (in years)	2 or less
Marketable securities, Amortized Cost	$ 150,022
Marketable securities, Gross Unrealized Losses	(266)
Marketable securities, Estimated Fair Value	149,756
Cash and cash equivalents
Marketable Securities [Line Items]
Marketable securities, Amortized Cost	249,003
Marketable securities, Gross Unrealized Gain	14
Marketable securities, Estimated Fair Value	249,017
Short term investments
Marketable Securities [Line Items]
Marketable securities, Amortized Cost	403,772
Marketable securities, Gross Unrealized Losses	(443)
Marketable securities, Estimated Fair Value	$ 403,329

Marketable Securities - Additio

Marketable Securities - Additional Information (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable securities held in unrealized loss position for greater than 12 months	$ 0
Marketable securities allowance for credit losses	$ 0
Marketable securities		$ 0

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid clinical trial expenses	$ 4,015	$ 1,397
Prepaid contract manufacturing expenses	2,898	3,808
Prepaid research and development expenses	2,251	627
Other prepaid expenses	2,206	1,218
Total	$ 11,370	$ 7,050

Balance Sheet Details - Sched_2

Balance Sheet Details - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and Equipment, gross	$ 4,913	$ 1,854
Less accumulated depreciation	(1,036)	(407)
Total	3,877	1,447
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and Equipment, gross	3,281	1,830
Computer Equipment
Property Plant And Equipment [Line Items]
Property and Equipment, gross	759
Office Equipment and Furniture
Property Plant And Equipment [Line Items]
Property and Equipment, gross	$ 873	$ 24

Balance Sheet Details - Additio

Balance Sheet Details - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Depreciation expense	$ 0.6	$ 0.3	$ 0.1

Balance Sheet Details - Sched_3

Balance Sheet Details - Schedule of Accrued Compensation (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued bonuses	$ 4,609	$ 5,024
Accrued salaries and payroll taxes	31	64
Accrued ESPP	179	129
Accrued severance		161
Total	$ 4,819	$ 5,378

Balance Sheet Details - Sched_4

Balance Sheet Details - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued clinical trial expenses	$ 4,407	$ 1,999
Accrued contract manufacturing expenses	4,065	906
Accrued research and development expenses	2,958	2,123
Accrued legal expenses	371	531
Payable to PLI	193	193
Unvested early exercise liability	11	35
Accrued other	716	456
Total	$ 12,721	$ 6,243

Collaboration and License Agr_3

Collaboration and License Agreements - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jul. 31, 2020	Sep. 30, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Common stock, shares issued			46,845,573	38,960,716
Revenue recognized			$ 6,809,000	$ 3,129,000	$ 1,229,000
Deferred revenue			16,965,000	19,872,000	6,473,000	$ 1,542,000
Cedars-Sinai Agreement | Cedars-Sinai
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement expiration term		3 years
Cedars-Sinai Agreement | Cedars-Sinai | Vested Common Stock
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Common stock, shares issued		257,500
Cedars-Sinai Agreement | Cedars-Sinai | Unvested Restricted Common Stock
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Common stock, shares issued		335,000
License Agreement | Cedars-Sinai
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement expiration term		10 years
Falk Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized			5,628,000	2,750,000	437,000
Deferred revenue			16,965,000	18,691,000	4,763,000
Falk Agreement | Falk
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Funding percentage third-party development costs set forth in development plan	25%
Collaboration agreement, upfront payment received upon agreement execution	$ 2,500,000
Collaboration agreement, pre-clinical development milestone payment received upon finalization of development plan			2,500,000
Collaboration agreement, pre-clinical development milestone payment received upon clinical candidate selected	10,000,000
Collaboration agreement additional pre-clinical development milestone payment eligible to receive	$ 5,000,000
Revenue recognized			5,600,000	2,800,000	400,000
Deferred revenue			17,000,000	18,700,000
Takeda Collaboration Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized			1,181,000	379,000	792,000
Revenue recognized out of beginning deferred revenue			2,900,000	1,500,000
Deferred revenue				1,181,000	1,710,000	$ 1,542,000
Takeda Collaboration Agreement | Takeda Pharmaceutical Company Limited
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized			1,200,000	400,000	$ 800,000
Deferred revenue			$ 0	$ 1,200,000

Collaboration and License Agr_4

Collaboration and License Agreements - Additional Information (Details1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01 $ in Millions	Dec. 31, 2022 USD ($)
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	8 years
Falk Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation expected to be recognized amount	$ 1.3
Falk Agreement | Falk
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	8 years

Collaboration and License Agr_5

Collaboration and License Agreements - Schedule of Reconciliation of Deferred Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Beginning Balance	$ 19,872,000	$ 6,473,000	$ 1,542,000
Amounts received/credited	3,902,000	16,528,000	6,160,000
Revenue recognized	(6,809,000)	(3,129,000)	(1,229,000)
Ending Balance	16,965,000	19,872,000	6,473,000
Falk Agreement
Disaggregation Of Revenue [Line Items]
Beginning Balance	18,691,000	4,763,000
Amounts received/credited	3,902,000	16,678,000	5,200,000
Revenue recognized	(5,628,000)	(2,750,000)	(437,000)
Ending Balance	16,965,000	18,691,000	4,763,000
Falk Agreement | Falk
Disaggregation Of Revenue [Line Items]
Beginning Balance	18,700,000
Revenue recognized	(5,600,000)	(2,800,000)	(400,000)
Ending Balance	17,000,000	18,700,000
Takeda Agreement
Disaggregation Of Revenue [Line Items]
Beginning Balance	1,181,000	1,710,000	1,542,000
Amounts received/credited		(150,000)	960,000
Revenue recognized	(1,181,000)	(379,000)	(792,000)
Ending Balance		1,181,000	1,710,000
Takeda Agreement | Takeda
Disaggregation Of Revenue [Line Items]
Beginning Balance	1,200,000
Revenue recognized	(1,200,000)	(400,000)	$ (800,000)
Ending Balance	$ 0	$ 1,200,000

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - PLI $ in Millions		1 Months Ended			12 Months Ended
	Jun. 30, 2019 USD ($) shares	Jan. 31, 2021 USD ($) shares	Oct. 31, 2020 USD ($) shares	Jun. 30, 2020 USD ($) shares	Dec. 31, 2020 ft²
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Percentage of voting interest acquired	100%
Total consideration	$ 31.7
Business acquisition, deferred cash payment	15		$ 3.8	$ 5
Business acquisition, deferred cash payment due on June 30, 2020	5
Business acquisition, deferred cash payment due on June 30, 2021	10
Acquisition-related contingent consideration	$ 3.5
Percentage of discount rate on interest component	12%
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Discontinued operation distribution of interest, percentage					100%
Area of Space Leased | ft²					40,000
Term of sublease					1 year
Series C Convertible Preferred Stock
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Business acquisition, number of shares issued | shares	16,500,000
Business acquisition, number of shares issued with fair value	$ 16.5
Acquisition-related contingent consideration shares | shares	3,500,000
Business acquisition deferred cash payment converted to shares of convertible preferred stock | shares				5,000,000
Series D Convertible Preferred Stock
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Business acquisition deferred cash payment converted to shares of convertible preferred stock | shares			5,088,851
Series D-2 Convertible Preferred Stock
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Business acquisition, number of shares issued | shares		7,219,560
Business acquisition, deferred cash payment		$ 6.1
Business acquisition deferred cash payment converted to shares of convertible preferred stock | shares		7,219,560

Discontinued Operations - Sched

Discontinued Operations - Schedule of Consolidated Statements of Operations and Comprehensive Loss as Discontinued Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Operating expenses:
Loss from discontinued operations, net of taxes	$ (5,999)
PLI
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Diagnostic services revenue	36,593
Operating expenses:
Cost of diagnostic services revenue	12,625
Research and development	4,956
Sales and marketing	10,993
General and administrative	9,885
Restructuring	2,260
Amortization of intangible assets	1,179
Goodwill impairment charge	724
Total operating expenses	42,622
Loss from discontinued operations	(6,029)
Interest income	30
Loss from discontinued operations, net of taxes	$ (5,999)

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Details) - Oxford Finance LLC - USD ($)		1 Months Ended
	Mar. 16, 2021	Jul. 31, 2021	Jan. 31, 2020	Dec. 31, 2022
Debt Instrument [Line Items]
Long term debt, maximum borrowing amount			$ 25,000,000
Long term debt, amount drawn upon execution of agreement			$ 7,500,000
Interest rate			2.01%
Additional interest rate			5.98%
Debt instrument minimum annual interest rate			7.99%
Prepayment of outstanding principal balance		$ 7,500,000
Prepayment penalty, accrued interest and final payment		$ 500,000
Series C Convertible Preferred Stock
Debt Instrument [Line Items]
Warrant to purchase of convertible preferred stock			112,500
Exercise price of warrants	$ 7.558		$ 1
Expected term (in years)			10 years
Conversion of convertible preferred stock into common stock at initial public offering, shares	14,884
Cashless exercise warrants				13,849

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details)				1 Months Ended					12 Months Ended
	Apr. 01, 2022 USD ($)	Jan. 01, 2022 shares	Mar. 16, 2021 shares	Dec. 31, 2022 USD ($) $ / shares shares	Feb. 28, 2021 shares	Jan. 31, 2021 USD ($) shares	Oct. 31, 2020 USD ($) $ / shares shares	Mar. 31, 2020 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2017 shares	Mar. 31, 2021 shares
Class Of Stock [Line Items]
Common stock, shares authorized			400,000,000	400,000,000					400,000,000	400,000,000			400,000,000
Preferred stock, shares authorized			40,000,000	40,000,000					40,000,000	40,000,000			40,000,000
Net cash proceeds from sale of convertible preferred stock | $										$ 73,749,000	$ 73,826,000
Remaining unvested shares				4,167					4,167	17,606	54,703
Common stock reserved for issuance				10,216,134					10,216,134	8,678,836
Weighted average grant date fair value of options granted | $ / shares									$ 34.96	$ 12.15	$ 5.93
Total intrinsic value of options exercised | $									$ 48,500,000	$ 2,500,000	$ 300,000
Unvested shares early exercised option right to repurchase shares vesting period									4 years
Unvested early exercise liability | $				$ 11,000					$ 11,000	35,000
Stock compensation expense | $									20,862,000	10,698,000	$ 840,000
Unrecognized compensation cost related to unvested stock-based awards | $				105,800,000					$ 105,800,000
Unrecognized compensation cost is expected to be recognized over a weighted average period									3 years 3 months
Common stock, value | $				$ 5,000					$ 5,000	4,000
Proceeds from sale of common stock in public offerings, gross | $									$ 589,391,000
2021 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock reserved for issuance					360,000
Common stock, shares available for grant				683,891					683,891
Annually increase amount equal to lessor of percentage of shares of common stock outstanding on the final day of the immediately preceding calendar year		1%			1%
Participants to purchase common stock through payroll deductions maximum percentage of eligible compensation					20%
Stock compensation expense | $									$ 400,000	500,000
Issuance of common stock under employee stock purchase plan, shares									65,716
Outstanding liability related to employee contributions for shares pending issuance | $				$ 200,000					$ 200,000
Stock Option Modification
Class Of Stock [Line Items]
Stock compensation expense | $										$ 4,600,000
Follow-on Public Offering
Class Of Stock [Line Items]
Issuance of shares of common stock in initial public offering for cash, net of issuance costs, shares				4,545,455
Common stock price per share | $ / shares				$ 110					$ 110
Proceeds from sale of common stock in public offerings, gross | $				$ 470,500,000
2017 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock reserved for issuance												5,524,354
Maximum options granted period												10 years
2021 Incentive Award Plan
Class Of Stock [Line Items]
Common stock, shares available for grant				1,861,545	3,600,000				1,861,545
Annually increase amount equal to lessor of percentage of shares of common stock outstanding on the final day of the immediately preceding calendar year					5%
Maximum options granted period									10 years
Award subject to continuous service									36 months
Issuance of shares including automatic increase		1,948,035
2021 Incentive Award Plan | Tranche One
Class Of Stock [Line Items]
Award vesting period									1 year
Percentage of award vested									25%
Restricted Stock Units
Class Of Stock [Line Items]
Award vesting period									3 years
Number of shares granted									252,257
Common stock reserved for issuance				251,908					251,908
Percentage of award vested									100%
Convertible Preferred Stock
Class Of Stock [Line Items]
Warrant to purchase of convertible preferred stock			148,848
Series C Convertible Preferred Stock
Class Of Stock [Line Items]
Issuance of convertible preferred stock for cash, net of issuance costs, shares								28,063,500
Net cash proceeds from sale of convertible preferred stock | $								$ 28,000,000
Series D-1 Convertible Preferred Stock
Class Of Stock [Line Items]
Issuance of convertible preferred stock for cash, net of issuance costs, shares							61,066,216
Net cash proceeds from sale of convertible preferred stock | $							$ 46,200,000
Shares issued, price per share | $ / shares							$ 0.7558
Convertible preferred stock issued for deferred purchase price obligation, shares							5,088,851
Issuance of convertible preferred stock for settlement of deferred purchase price | $							$ 3,800,000
Series D-2 Convertible Preferred Stock
Class Of Stock [Line Items]
Issuance of convertible preferred stock for cash, net of issuance costs, shares						93,995,300	94,007,051			86,775,740
Shares issued, price per share | $ / shares							$ 0.8510
Convertible preferred stock issued for deferred purchase price obligation, shares						7,219,560	7,231,311			7,219,560
Issuance of convertible preferred stock for settlement of deferred purchase price | $						$ 6,100,000	$ 6,200,000
Change in fair value of preferred stock purchase right liability | $										$ 1,000,000
Series D Convertible Preferred Stock
Class Of Stock [Line Items]
Issuance of convertible preferred stock for cash, net of issuance costs, shares											61,066,216
Fair value of preferred stock purchase right liability | $							$ 3,900,000
Common Stock
Class Of Stock [Line Items]
Conversion of convertible preferred stock into common stock at initial public offering, shares										25,485,955
Issuance of common stock under employee stock purchase plan, shares									39,566	26,150
Issuance of shares of common stock in initial public offering for cash, net of issuance costs, shares									7,085,803	11,500,000
Common Stock | Convertible Preferred Stock
Class Of Stock [Line Items]
Conversion of convertible preferred stock into common stock at initial public offering, shares			25,485,955
Common Stock | Convertible Preferred Stock Warrant Liability
Class Of Stock [Line Items]
Conversion of convertible preferred stock into common stock at initial public offering, shares			14,884
Sale Agreement
Class Of Stock [Line Items]
Issuance of shares of common stock in initial public offering for cash, net of issuance costs, shares									2,540,348
Common stock price per share | $ / shares				$ 35.19					$ 35.19
Proceeds from sale of common stock in public offerings, gross | $									$ 85,900,000
Agent | Sale Agreement | PLI
Class Of Stock [Line Items]
Percentage of commission from sale of common stock	300
Agent | Sale Agreement | PLI | Maximum
Class Of Stock [Line Items]
Common stock, value | $	$ 150,000,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Number of shares, Outstanding at December 31, 2021	6,474,039
Number of shares, Granted	1,850,156
Number of shares, Exercised	(745,894)
Number of shares, Cancelled/forfeited	(159,511)
Number of shares, Outstanding at December 31, 2022	7,418,790	6,474,039
Number of shares, Vested or expected to vest at December 31, 2022	7,418,790
Number of shares, Exercisable at December 31, 2022	2,646,924
Weighted Average Exercise Price, Outstanding at December 31, 2021	$ 12.18
Weighted Average Exercise Price, Granted	51.98
Weighted Average Exercise Price, Exercised	6.70
Weighted Average Exercise Price, Cancelled/forfeited	24.02
Weighted Average Exercise Price, Outstanding at December 31, 2022	22.40	$ 12.18
Weighted Average Exercise Price, Vested or expected to vest at December 31, 2022	22.40
Weighted Average Exercise Price, Exercisable at December 31, 2022	$ 8.95
Weighted Average Remaining Contractual Terms (in Years), Outstanding	8 years 7 months 6 days	8 years 6 months
Weighted Average Remaining Contractual Terms (in Years), Vested or excepted to vest at December 31, 2022	8 years 7 months 6 days
Weighted Average Remaining Contractual Terms (in Years), Exercisable at December 31, 2022	8 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 649,964
Aggregate Intrinsic Value, Vested or excepted to vest at December 31, 2022	649,964
Aggregate Intrinsic Value, Exercisable at December 31, 2022	$ 267,517

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Grant Date Fair Value of Stock Options (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, Minimum	1.50%	0.20%	0.20%
Risk-free interest rate, Maximum	4.20%	1.40%	1.40%
Expected volatility, Minimum	72.50%	73%	61.50%
Expected volatility, Maximum	74.60%	95.20%	71.80%
Expected term (in years)			6 years 1 month 6 days
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years 6 months	5 years 3 months 18 days
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 6 months	6 years 1 month 6 days

Stockholders' Equity - Summar_3

Stockholders' Equity - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Outstanding Awards, Granted | shares	252,257
Number of Outstanding Awards, Cancelled | shares	(349)
Number of Outstanding Awards, Balance at December 31, 2022 | shares	251,908
Vested or expected to vest at December 31, 2022 | shares	251,908
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 74.11
Weighted Average Grant Date Fair Value, Cancelled | $ / shares	29.56
Weighted Average Grant Date Fair Value, Balance at December 31, 2022 | $ / shares	74.18
Weighted Average Grant Date Fair Value, Vested or expected to vest at December 31, 2022 | $ / shares	$ 74.18
Aggregate Intrinsic Value, Balance at December 31, 2022 | $	$ 27,710
Aggregate Intrinsic Value, Vested or expected to vest at December 31, 2022 | $	$ 27,710

Stockholders' Equity - Summar_4

Stockholders' Equity - Summary of Activity Unvested Common Stock Issued Pursuant Early Exercise of Stock Options Awards (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Unvested at beginning of year	17,606	54,703
Vested or cancelled during the period	(13,439)	(37,097)
Unvested at end of year	4,167	17,606

Stockholders' Equity - Summar_5

Stockholders' Equity - Summary of Fair Value of Stock of the Stock Purchase Right Under ESPP (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, Minimum	1.50%	0.20%	0.20%
Risk-free interest rate, Maximum	4.20%	1.40%	1.40%
Expected volatility, Minimum	72.50%	73%	61.50%
Expected volatility, Maximum	74.60%	95.20%	71.80%
Expected term (in years)			6 years 1 month 6 days
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, Minimum	1.40%	0.03%
Risk-free interest rate, Maximum	4.80%	0.30%
Expected volatility, Minimum	56.50%	71.60%
Expected volatility, Maximum	79.50%	83.90%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years 6 months	5 years 3 months 18 days
Minimum | 2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 6 months	6 years 1 month 6 days
Maximum | 2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	1 year 6 months	1 year 7 months 6 days

Stockholders' Equity - Summar_6

Stockholders' Equity - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 20,862	$ 10,698	$ 840
Discontinued Operations
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation			101
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	7,103	1,755	144
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 13,759	$ 8,943	$ 595

Stockholders' Equity - Summar_7

Stockholders' Equity - Summary of Common Stock Reserved for Future Issuance (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	10,216,134	8,678,836
Common Stock Options Issued and Outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	7,418,790	6,474,039
Warrants to Purchase Common Stock Outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance		14,884
Shares Available for Issuance Under Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	1,861,545	1,856,063
ESPP Shares Pending Issuance
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	683,891	333,850
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	251,908

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	1 Months Ended				12 Months Ended
	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Oct. 31, 2021	Mar. 31, 2021	Dec. 31, 2022 USD ($)	Dec. 31, 2021	Dec. 31, 2020 ft²
Commitments And Contingencies [Line Items]
Operating lease right-of-use asset and liabilities	$ 14,000,000	$ 14,600,000
Operating lease, weighted average discount rate, percent					8.70%
Future minimum lease payments					$ 46,319,000
Indemnification Claims					0
Accrued Indemnification					0
Office and Laboratory Space, San Diego
Commitments And Contingencies [Line Items]
Initial lease term	127 months 15 days	10 years	127 months 15 days
Option to extend additional lease term		5 years	5 years
Approximate monthly rental payment proceeds from lease		$ 200,000			200,000
Lessee operating lease lease expect to commence year	2022-09
Option to extend lease			true	true
Office and Laboratory Space, San Diego | Maximum
Commitments And Contingencies [Line Items]
Tenant improvement allowance		$ 6,300,000			$ 6,100,000
PLI
Commitments And Contingencies [Line Items]
Sublease agreement term							1 year
Sublease option to extend						true
Sublease agreement extended term					6 months
Sublease option to extend, description					The sublease agreement was extended for six months and expired on June 30, 2022 in accordance with its terms. No further
Number of square feet of the building leased | ft²							40,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Information Related to Operating Lease (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 2,304
Variable lease cost	464
Short-term lease cost	494	$ 960	$ 461
Total lease cost	3,262	$ 960	$ 461
Cash paid for amounts included in the measurement of lease liabilities	$ 539

Commitments and Contingencies_3

Commitments and Contingencies - Future Minimum Lease Payments and Information Related to Operating Lease Liability (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 3,352
2024	4,058
2025	4,180
2026	4,305
2027	4,435
Thereafter	25,989
Total lease payments	46,319
Imputed interest	(16,781)
Lease liability	29,538
Lease liabilities, current portion	3,217
Lease liabilities, net of current portion	$ 26,321

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)		12 Months Ended
	Mar. 27, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax [Line Items]
Income tax expense (Benefit)		$ 0	$ 0
Increase in valuation allowance		$ 51,900,000	28,200,000
Federal and state carry forward expiration beginning year		2036
Percentage of future taxable income		80%
Research tax credits		$ 15,288,000	7,012,000
Federal credits expiration beginning year		2040
Unrecognized tax benefits interest or penalties		$ 0	0
Loss carryback period	5 years
Internal Revenue Code 382 and 383
Income Tax [Line Items]
Annual usage of net operating loss and research and development credit carryforwards limited in event of cumulative change in minimum ownership in percentage within three year		50%
NOLs and tax credit carryforwards utilization period		3 years
Cumulative changes in ownership percentage, description		The Company had an ownership change analysis completed through December 31, 2022 and determined that ownership changes there were ownership changes on May 31, 2017, September 1, 2017, September 26, 2017, May 29, 2019, March 27, 2020 and January 29, 2021.
Tax Year 2018
Income Tax [Line Items]
Net operating loss carryforwards		$ 163,100,000
Federal
Income Tax [Line Items]
Net operating loss carryforwards		164,100,000
Research tax credits		11,600,000
Federal | Internal Revenue Code 382 and 383
Income Tax [Line Items]
Research tax credits		968,000
Research tax credits valuation allowance		968,000
State
Income Tax [Line Items]
Net operating loss carryforwards			222,500,000
Research tax credits			$ 9,400,000
State | Internal Revenue Code 382 and 383
Income Tax [Line Items]
Net operating loss carryforwards		562,000
Net operating loss carryforwards valuation allowance		$ 562,000
General and Administrative
Income Tax [Line Items]
Income tax expense (Benefit)				$ 7,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at statutory rates	$ (29,769)	$ (18,938)	$ (6,538)
State income tax, net of federal benefit	(10,897)	(5,865)	(586)
Permanent items	33	255	(14)
Change in valuation allowance	51,733	28,219	7,373
Forfeiture of state operating losses	17	42	521
Stock-based compensation	(2,877)	751	82
Purchase price accretion		101	311
Return to provision adjustment	37	(84)	293
Research and development tax credits	(8,277)	(4,481)	$ (1,442)
Income tax expense (Benefit)	$ 0	$ 0

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforward	$ 49,983	$ 32,373
Capitalized research and development	21,023
Research tax credits	15,288	7,012
Lease liability	8,276
Stock-based compensation	3,039	1,980
Deferred revenue	4,754	1,365
Accrued and other	145	25
Total deferred tax assets	102,508	42,755
Less valuation allowance	(94,541)	(42,688)
Net deferred tax assets	7,967	67
Deferred tax liabilities:
Right-of-use asset	(7,782)
Property and equipment	(185)	(67)
Total deferred tax liabilities	$ (7,967)	$ (67)

Income Taxes - Summary of Gross

Income Taxes - Summary of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Balance at beginning of period	$ 1,949	$ 697
Increase (decrease) related to prior year positions		(186)
Increase related to current year positions	2,271	1,438
Balance at the end of the year	$ 4,220	$ 1,949

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	1 Months Ended		12 Months Ended
	Jan. 31, 2021 USD ($) shares	Oct. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) Employee $ / shares shares	Dec. 31, 2020 USD ($) Employee	Sep. 30, 2017 $ / shares shares
Related Party Transaction [Line Items]
Common stock, shares issued | shares			46,845,573	38,960,716
Common stock, par value | $ / shares			$ 0.0001	$ 0.0001
Accrued expenses and other current liabilities			$ 12,721,000	$ 6,243,000
Number of employees | Employee				1	2
Compensation related expense					$ 800,000
PLI Spinoff
Related Party Transaction [Line Items]
Accrued expenses and other current liabilities			200,000
Discontinued Operations
Related Party Transaction [Line Items]
Payment for collaboration expense					300,000
Series D-2 Convertible Preferred Stock
Related Party Transaction [Line Items]
Issuance of convertible preferred stock for settlement of deferred purchase price	$ 6,100,000	$ 6,200,000
PLI | Series D-2 Convertible Preferred Stock
Related Party Transaction [Line Items]
Number of convertible preferred stock issued as deferred consideration for acquisition | shares	7,219,560
Research and Development
Related Party Transaction [Line Items]
Compensation related expense				$ 800,000	600,000
Payment for collaboration expense				500,000
General and Administrative
Related Party Transaction [Line Items]
Compensation related expense					200,000
Cedars-Sinai Agreement | Cedars-Sinai
Related Party Transaction [Line Items]
Related party costs			100,000	0	0
Cedars-Sinai Agreement | Vested Common Stock | Cedars-Sinai
Related Party Transaction [Line Items]
Common stock, shares issued | shares						257,500
Common stock, par value | $ / shares						$ 0.0001
Cedars-Sinai Agreement | Unvested Restricted Common Stock | Cedars-Sinai
Related Party Transaction [Line Items]
Common stock, shares issued | shares						335,000
Common stock, par value | $ / shares						$ 0.0001
Transition Services Agreement
Related Party Transaction [Line Items]
Payment for terms of agreement			$ 1,500,000	3,800,000
Transition Services Agreement | PLI Spinoff
Related Party Transaction [Line Items]
Payout bonus liability					$ 1,100,000
Bonus liability paid				$ 1,100,000

401(K) Plan - Additional Inform

401(K) Plan - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Company contribution to 401(k) plan	$ 1,000,000	$ 300,000	$ 45,000

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Net proceeds from exercise of option		$ 589,391
Subsequent Event | December 2022 Public Offering
Subsequent Event [Line Items]
Issuance of common stock, shares	483,256
Common stock price per share	$ 110
Net proceeds from exercise of option	$ 50,100