IN8bio (INAB) 10-Q 10 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 03, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	IN8BIO, INC.
Entity Central Index Key	0001740279
Entity Tax Identification Number	82-5462585
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity File Number	001-39692
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	350 5th Avenue
Entity Address, Address Line Two	Suite 5330
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10118
City Area Code	646
Local Phone Number	600-6438
Trading Symbol	INAB
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		18,754,553
Document Quarterly Report	true
Document Transition Report	false

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash	$ 40,675	$ 17,994
Prepaid expenses and other current assets	3,202	150
Total Current Assets	43,877	18,144
Non-current assets
Property and equipment, net	302	186
Deferred offering costs	0	2,439
Right of use assets - financing leases	849	0
Right of use assets - operating leases	1,697	0
Other non-current assets	409	141
Total Non-Current Assets	3,257	2,766
Total Assets	47,134	20,910
Current liabilities
Accounts payable	692	620
Accrued expenses and other current liabilities	840	1,778
Short-term financing lease liability	464	0
Short-term operating lease liability	164	0
Loan payable, current	0	174
Total Current Liabilities	2,160	2,572
Deferred rent	0	17
Long-term financing lease liability	343	0
Long-term operating lease liability	1,593	0
Total Liabilities	4,096	2,589
Commitments and Contingencies
Convertible preferred stock, Series A, (Note 7)	0	34,900
Stockholders' Deficit
Common stock, par value $0.0001 per share; 490,000,000 and 50,700,000 shares authorized at September 30, 2021 and December 31, 2020; 18,754,553 and 3,764,488 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	3	1
Additional paid-in capital	69,877	1,458
Accumulated deficit	(26,842)	(18,038)
Total Stockholders' Deficit	43,038	(16,579)
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit	$ 47,134	$ 20,910

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	490,000,000	50,700,000
Common stock, shares, issued	18,754,553	3,764,488
Common stock, shares, outstanding	18,754,553	3,764,488

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating expenses:
Research and development	$ 1,350	$ 1,057	$ 4,660	$ 3,893
General and administrative	2,041	624	4,144	2,353
Total operating expenses	3,391	1,681	8,804	6,246
Loss from operations	(3,391)	(1,681)	(8,804)	(6,246)
Net loss	(3,391)	(1,681)	(8,804)	(6,246)
Net loss attributable to common stockholders (Note 10)	$ (3,391)	$ (2,182)	$ (8,804)	$ (7,311)
Net loss per share attributable to common stockholders – basic and diluted	$ (0.25)	$ (0.60)	$ (1.26)	$ (2.14)
Weighted-average number of shares used in computing net loss per common share, basic and diluted	13,377,682	3,614,329	7,004,099	3,410,101

Condensed Statements of Convert

Condensed Statements of Convertible Preferred Stock, Common Stock and Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Total	License Agreement [Member]	Legal Settlement [Member]	Convertible Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]License Agreement [Member]	Common Stock [Member]Legal Settlement [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]License Agreement [Member]	Additional Paid-in Capital [Member]Legal Settlement [Member]	Accumulated Deficit [Member]	IPO [Member]	IPO [Member]Convertible Preferred Stock [Member]	IPO [Member]Common Stock [Member]	IPO [Member]Additional Paid-in Capital [Member]
Temporary equity shares beginning at Dec. 31, 2019				2,713,980
Temporary equity amount beginning at Dec. 31, 2019				$ 8,896
Shares beginning at Dec. 31, 2019					3,235,671
Balance beginning at Dec. 31, 2019	$ (9,242)				$ 1			$ 238			$ (9,481)
Stock issued during period shares new issues, amount	200			$ 5,461				200
Stock issued during period shares new issues, shares				1,533,947	182,500	44,011
Stock-based compensation expense	18							18
Net loss	(1,691)										(1,691)
Temporary equity shares ending at Mar. 31, 2020				4,247,927
Temporary equity amount ending at Mar. 31, 2020				$ 14,357
Shares ending at Mar. 31, 2020					3,462,182
Balance ending at Mar. 31, 2020	(10,715)				$ 1			456			(11,172)
Temporary equity shares beginning at Dec. 31, 2019				2,713,980
Temporary equity amount beginning at Dec. 31, 2019				$ 8,896
Shares beginning at Dec. 31, 2019					3,235,671
Balance beginning at Dec. 31, 2019	(9,242)				$ 1			238			(9,481)
Conversion of convertible preferred stock to common stock upon closing of IPO, Value	0
Stock-based compensation expense	54
Net loss	(6,246)
Temporary equity shares ending at Sep. 30, 2020				9,762,331
Temporary equity amount ending at Sep. 30, 2020				$ 34,071
Shares ending at Sep. 30, 2020					3,708,550
Balance ending at Sep. 30, 2020	(14,883)				$ 1			843			(15,727)
Temporary equity shares beginning at Mar. 31, 2020				4,247,927
Temporary equity amount beginning at Mar. 31, 2020				$ 14,357
Shares beginning at Mar. 31, 2020					3,462,182
Balance beginning at Mar. 31, 2020	(10,715)				$ 1			456			(11,172)
Stock-based compensation expense	20							20
Net loss	(2,874)										(2,874)
Temporary equity shares ending at Jun. 30, 2020				4,247,927
Temporary equity amount ending at Jun. 30, 2020				$ 14,357
Shares ending at Jun. 30, 2020					3,462,182
Balance ending at Jun. 30, 2020	(13,569)				$ 1			476			(14,046)
Stock issued during period shares new issues, amount		$ 103	$ 248	$ 19,714					$ 103	$ 248
Stock issued during period shares new issues, shares				5,514,404		45,618	200,750
Stock-based compensation expense	16							16
Net loss	(1,681)										(1,681)
Temporary equity shares ending at Sep. 30, 2020				9,762,331
Temporary equity amount ending at Sep. 30, 2020				$ 34,071
Shares ending at Sep. 30, 2020					3,708,550
Balance ending at Sep. 30, 2020	(14,883)				$ 1			843			(15,727)
Temporary equity shares beginning at Dec. 31, 2020				9,993,727
Temporary equity amount beginning at Dec. 31, 2020	34,900			$ 34,900
Shares beginning at Dec. 31, 2020					3,764,488
Balance beginning at Dec. 31, 2020	(16,579)				$ 1			1,458			(18,038)
Stock-based compensation expense	361							361
Net loss	(2,363)										(2,363)
Temporary equity shares ending at Mar. 31, 2021				9,993,727
Temporary equity amount ending at Mar. 31, 2021				$ 34,900
Shares ending at Mar. 31, 2021					3,764,488
Balance ending at Mar. 31, 2021	(18,581)				$ 1			1,819			(20,401)
Temporary equity shares beginning at Dec. 31, 2020				9,993,727
Temporary equity amount beginning at Dec. 31, 2020	34,900			$ 34,900
Shares beginning at Dec. 31, 2020					3,764,488
Balance beginning at Dec. 31, 2020	(16,579)				$ 1			1,458			(18,038)
Conversion of convertible preferred stock to common stock upon closing of IPO, Value	34,900
Stock-based compensation expense	1,230
Net loss	(8,804)
Temporary equity shares ending at Sep. 30, 2021				0
Temporary equity amount ending at Sep. 30, 2021	0			$ 0
Shares ending at Sep. 30, 2021					18,754,553
Balance ending at Sep. 30, 2021	43,038				$ 3			69,877			(26,842)
Temporary equity shares beginning at Mar. 31, 2021				9,993,727
Temporary equity amount beginning at Mar. 31, 2021				$ 34,900
Shares beginning at Mar. 31, 2021					3,764,488
Balance beginning at Mar. 31, 2021	(18,581)				$ 1			1,819			(20,401)
Stock-based compensation expense	392							392
Net loss	(3,050)										(3,050)
Temporary equity shares ending at Jun. 30, 2021				9,993,727
Temporary equity amount ending at Jun. 30, 2021				$ 34,900
Shares ending at Jun. 30, 2021					3,764,488
Balance ending at Jun. 30, 2021	(21,239)				$ 1			2,211			(23,451)
Stock issued during period shares new issues, amount												$ 32,291		$ 1	$ 32,290
Stock issued during period shares new issues, shares														4,000,000
Temporary equity conversion of convertible preferred stock to common stock, shares													(9,993,727)
Temporary equity conversion of convertible preferred stock to common stock													$ (34,900)
Conversion of convertible preferred stock to common stock, shares														10,990,065
Conversion of convertible preferred stock to common stock												$ 34,900		$ 1	$ 34,899
Stock-based compensation expense	477							477
Net loss	(3,391)										(3,391)
Temporary equity shares ending at Sep. 30, 2021				0
Temporary equity amount ending at Sep. 30, 2021	0			$ 0
Shares ending at Sep. 30, 2021					18,754,553
Balance ending at Sep. 30, 2021	$ 43,038				$ 3			$ 69,877			$ (26,842)

Condensed Statements of Conve_2

Condensed Statements of Convertible Preferred Stock, Common Stock and Stockholders' Deficit (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Mar. 31, 2020
Convertible Preferred Stock [Member]
Payments of stock issuance costs	$ 45	$ 36

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (8,804,000)	$ (6,246,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	67,000	66,000
Stock-based compensation	1,230,000	54,000
Stock issuance related to license agreement	0	103,000
Amortization of financing lease right-of-use assets	392,000	0
Amortization of operating lease right-of-use assets	95,000	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(3,117,000)	6,000
Other non-current assets	(268,000)	(12,000)
Accounts payable	42,000	(195,000)
Accrued expenses and other current liabilities	(938,000)	816,000
Short-term operating lease liabilities	87,000	0
Long-term operating lease liabilities	(119,000)	0
Net cash used in operating activities	(11,333,000)	(5,408,000)
Investing activities
Construction in progress	(153,000)	0
Net cash used in investing activities	(153,000)	0
Financing activities
Proceeds from the issuance of common stock	36,327,000	448,000
Proceeds from issuance of preferred stock - Series A, net of $16 of issuance costs	0	25,175,000
Principal payments on financing leases	(390,000)	0
Proceeds from issuance of loan	0	174,000
Loan payable	(174,000)	0
Deferred offering costs paid	(1,596,000)	(331,000)
Net cash provided by financing activities	34,167,000	25,466,000
Net increase in cash and restricted cash	22,681,000	20,058,000
Cash and restricted cash at beginning of period	17,994,000	610,000
Cash and restricted cash at end of period	40,675,000	20,668,000
Supplemental disclosure of non-cash operating, financing and investing information
Deferred offering costs included in accounts payable and accrued expenses	0	1,062,000
Construction in progress included in accounts payable	30,000	0
Conversion of preferred stock - Series A into common stock	34,900,000	0
Right-of-use assets obtained in exchange for financing lease	309,000	0
Right-of-use assets obtained in exchange for operating lease	969,000	0
Initial measurement of operating lease right-of-use assets and liabilities	$ 3,483,000	$ 0

Condensed Statements of Cash _2

Condensed Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Series A Preferred Stock
Payments of stock issuance costs	$ 16	$ 16

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	1. ORGANIZATION AND NATURE OF OPERATIONS Organization and Business IN8bio, Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of gamma-delta T cell therapies for the treatment of cancer. The Company’s lead product candidates are currently in Phase 1 clinical trials: INB-200, for the treatment of patients with newly diagnosed glioblastoma (“GBM”), and INB-100, for the treatment of patients with leukemia that are undergoing hematopoietic stem cell transplantation (“HSCT”). In addition, the Company’s DeltEx platform has yielded a broad portfolio of preclinical programs, including INB-300 and INB-400, focused on addressing other solid tumor types. Incysus, Inc. (“Incysus”) was a corporation formed in the State of Delaware on November 23, 2015 and Incysus, Ltd. was incorporated in Bermuda on February 8, 2016. Incysus was the wholly owned United States subsidiary of Incysus, Ltd. On May 7, 2018, Incysus, Ltd. reincorporated in the United States in a domestication transaction (the “Domestication”) in which Incysus, Ltd. converted into a newly formed Delaware corporation, Incysus Therapeutics, Inc. (“Incysus Therapeutics”). On July 24, 2019, Incysus Therapeutics merged with Incysus. Incysus Therapeutics subsequently changed its name to IN8bio, Inc. in August 2020. Following the Domestication in May 2018 and the merging of Incysus Therapeutics and Incysus in July 2019, the Company did not have any subsidiaries to consolidate as of December 31, 2020. The Company is headquartered in New York, New York. Coronavirus Pandemic Th e ongoing COVID-19 pandemic, which continues to impact worldwide economic activity, poses risks that the Company or its employees, contractors, suppliers, clinical sites and other partners may be prevented from conducting business activities for an indefinite period of time, including due to shutdowns that may be requested or mandated by governmental authorities. The full extent to which the pandemic may impact the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the pandemic or the impact of the emergence of any variants of COVID-19. The pandemic may impact the timing of regulatory approval of the investigational new drug application for clinical trials, the enrollment of any clinical trials that are approved, the availability of clinical trial materials and regulatory approval and commercialization of our products. The pandemic may also impact the Company’s ability to access capital, which could negatively impact short-term and long-term liquidity. Initial Public Offering On August 3, 2021 , the Company completed its initial public offering (“IPO”) in which it issued and sold 4,000,000 shares of its common stock at a public offering price of $ 10.00 per share. The Company received net proceeds from the IPO of $ 32.3 million, after deducting underwriters’ discounts, commissions, and offering-related costs. Upon closing of the IPO, all of the Company's outstanding shares of convertible preferred stock automatically converted into 10,990,065 shares of common stock (see Note 7). Liquidity and Capital Resources Through September 30, 2021 , the Company funded its operations primarily with proceeds from its Series A convertible preferred stock financing (“Series A Financing”) and most recently, with proceeds from its IPO. The Company has incurred recurring losses and negative operating cash flows from operations since its inception, including net losses of $ 8.8 million and $ 6.2 million for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021 , the Company had an accumulated deficit of $ 26.8 million. The Company has not yet generated product sales and as a result has experienced operating losses since inception. The Company expects to incur additional losses in the future to conduct research and development and will need to raise additional capital to fully implement management’s business plan. The Company intends to raise such capital through the issuance of additional equity, and potentially through borrowings, strategic alliances with partner companies and other licensing transactions. However, if such financing is not available at adequate levels, the Company may need to reevaluate its operating plans. Management believes that its existing cash of $ 40.7 million as of September 30, 2021 will be sufficient to fund its operating expenses and capital expenditure requirements for at least 12 months from the issuance of these condensed financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company has prepared the accompanying condensed financial statements in conformity with generally accepted accounting principles in the United States (“US GAAP”). Un audited Interim Financial Information The condensed financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted from these condensed financial statements, as is permitted by such rules and regulations. Accordingly, these condensed financial statements should be read in conjunction with the financial statements and notes thereto for the years ended December 31, 2020 and 2019 included in the Company’s final prospectus that forms part of the Company’s Registration Statement on Form S-1 (File No. 333-249530), filed with the SEC pursuant to Rule 424(b)(4) on July 30, 2021 (the “Prospectus”). The results for any interim period are not necessarily indicative of results for any future period. In the opinion of the Company’s management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement of the results for the interim periods presented have been included. Use of Estimates The preparation of condensed financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of expenses during the reporting periods presented. Such estimates and assumptions are used for, but are not limited to, the accrual of research and development expenses, deferred tax assets and liabilities and related valuation allowance, fair value of common stock and stock-based compensation, and the useful lives of property and equipment. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Leases Effective January 1, 2021, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) (“ASU 2016-02” or “ASC 842”), using the modified retrospective method and utilized the effective date as its date of initial application, with prior periods presented in accordance with previous guidance under Accounting Standards Codification ("ASC") 840, Leases . At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the balance sheet as right-of-use assets and current and non-current lease liabilities, as applicable. Operating lease liabilities and their corresponding right-of-use assets are initially recorded based on the present value of lease payments over the expected remaining lease term. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Prospectively, the Company will adjust the right-of-use assets for straight-line rent expense and remeasure the lease liability at the net present value using the same incremental borrowing rate that was in effect as of the lease commencement or transition date. The Company elected the following practical expedients, which must be elected as a package and applied consistently to all of its leases at the transition date (including those for which the entity is a lessee or a lessor): i) the Company did not reassess whether any expired or existing contracts are or contain leases; ii) the Company did not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with ASC 840 are classified as operating leases, and all existing leases that were classified as capital leases in accordance with ASC 840 are classified as finance leases); and iii) the Company did not reassess initial direct costs for any existing leases. For leases that existed prior to the date of initial application of ASC 842 (which were previously classified as operating leases), a lessee may elect to use either the total lease term measured at lease inception under ASC 840 or the remaining lease term as of the date of initial application of ASC 842 in determining the period for which to measure its incremental borrowing rate. In transition to ASC 842, the Company utilized the remaining lease term of its leases in determining the appropriate incremental borrowing rates. In accordance with ASC 842, components of a lease should be split into three categories: lease components, non-lease components, and non-components. The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. Entities may elect not to separate lease and non-lease components. The Company has elected to account for lease and non-lease components together as a single lease component for all underlying assets and allocate all of the contract consideration to the lease component only. On the adoption date, $ 1.7 million was recognized as total lease liabilities and $ 1.8 million was recognized as total right-of-use assets on the Company’s condensed balance sheet. Deferred Offering Costs The Company capitalizes certain legal, professional accounting and other third-party fees that are directly associated with in-process preferred stock or common stock financings as deferred offering costs until such financings are consummated. As of August 3, 2021, the date of the closing of the Company's IPO, the Company had deferred offering costs related to the IPO of $ 4.0 million. After closing of the IPO, these costs were recorded in stockholders' equity (deficit) as a reduction of additional paid-in capital generated as a result of the offering. Recently Issued Accounting Standards Updates In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes . ASU No. 2019-12 eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This update is effective for entities other than public business entities, including emerging growth companies that elected to defer compliance with new or revised financial accounting standards until a company that is not an issuer is required to comply with such standards, for annual reporting periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. The Company is currently evaluating the impact, if any, that the adoption of this guidance will have on the condensed financial statements.

Property And Equipment, Net

Property And Equipment, Net	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	3. PROPERTY AND EQUIPMENT, NET Property and equipment, net consist of the following (in thousands): September 30, December 31, Machinery and equipment $ 443 $ 443 Less accumulated depreciation ( 324 ) ( 257 ) Construction in progress 183 — Property and equipment, net $ 302 $ 186 Depreciation expense was $ 22,000 for the three months ended September 30, 2021 and 2020 and was $ 0.1 million for the nine months ended September 30, 2021 and 2020 .

Prepaid Expenses And Other Curr

Prepaid Expenses And Other Current Assets	9 Months Ended
	Sep. 30, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	4. prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, Prepaid expenses $ 3,167 $ 150 Other 35 — Prepaid expenses and other current assets $ 3,202 $ 150

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	5. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following (in thousands): September 30, December 31, Accrued offering costs $ — $ 876 Accrued clinical trials 164 376 Accrued compensation 474 400 Accrued other 202 126 Total accrued expenses and other current liabilities $ 840 $ 1,778

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT	6. Debt In April 2020, the Company was granted a loan (the “Loan”) in an amount of $ 0.2 million, pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the CARES Act, which was enacted on March 27, 2020. The Loan, which was in the form of a Note dated April 16, 2020, matures on April 16, 2022 and bears interest at a rate of 1.0 % per annum, payable monthly commencing on November 16, 2020 . The Note may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Funds from the Loan may only be used for payroll costs, costs used to continue group healthcare benefits, mortgage payments, rent, utilities, and interest on other debt obligations incurred before February 15, 2020. The Company used the entire Loan amount for qualifying expenses. In A ugust 2021, the Company repaid the PPP Loan of $ 0.2 million in full.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity (Deficit)	7. Stockholders' Equity (DEFICIT) In August 2021, in connection with the IPO, the Company filed an Amended and Restated Certificate of Incorporation which authorized 490,000,000 shares of common stock and 10,000,000 shares of undesignated preferred stock that may be issued from time to time by the Company’s Board of Directors in one or more series. Common Stock There were 490,000,000 shares and 50,700,000 shares authorized for issuance at September 30, 2021 and December 31, 2020, respectively, and 18,754,553 shares and 3,764,488 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively. Convertible Preferred Stock Upon closing of the IPO, all of the Company's outstanding shares of convertible preferred stock automatically converted into 10,990,065 shares of common stock.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	8. STOCK-BASED COMPENSATION 2018 Equity Incentive Plan On May 7, 2018, the Company established and adopted the 2018 Equity Incentive Plan (the “2018 Plan”) providing for the granting of stock awards for employees, directors and consultants to purchase shares of the Company’s common stock. Upon the effectiveness of the 2020 Plan (as defined below), the plan was terminated and no further issuances were made under the 2018 Plan, although it continues to govern the terms of any equity grants that remain outstanding under the 2018 Plan. 2020 Equity Incentive Plan The 2020 Equity Incentive Plan (the “2020 Plan”) was approved by the Board of Directors and the Company’s stockholders and became effective on July 29, 2021. The Board of Directors, or committee thereof, is authorized to administer the 2020 Plan. The 2020 Plan provides for the grant of incentive stock options ("ISOs") within the meaning of Section 422 of the U.S. Internal Revenue Code of 1986, as amended, to employees, and for the grant of nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance awards and other forms of awards to employees, directors and consultants and any affiliates’ employees and consultants. The number of shares initially reserved for issuance under the 2020 Plan was 4,200,000 , which will automatically increase on January 1 of each year for a period of 10 years, beginning on January 1, 2022 and continuing through January 1, 2031, in an amount equal to 5 % of the total number of shares of common stock outstanding on the last day of the immediately preceding year, or a lesser number of shares determined by the Board of Directors no later than the last day of the immediately preceding year. The maximum number of shares of common stock that may be issued on the exercise of ISOs under the 2020 Plan will be 13,000,000 shares. 11,021,808 shares were available for grant as of September 30, 2021. 2020 Employee Stock Purchase Plan The 2020 Employee Stock Purchase Plan (the “2020 ESPP”) was approved by the Company’s Board of Directors and the Company’s stockholders and became effective on July 29, 2021. A total of 200,000 shares of common stock were initially reserved for issuance under this plan, which will automatically increase on January 1 of each year for a period of 10 years , beginning on January 1, 2021 and continuing through January 1, 2031, by the lesser of 1 % of the total number of shares of common stock outstanding on the last day of the immediately preceding year; and 400,000 shares, except before the date of any such increase, the Board of Directors may determine that such increase will be less than the amount set forth above. As of September 30, 2021, no shares of common stock had been issued under the ESPP and 200,000 shares remained available for future issuance under the ESPP. The first offering period has not yet been decided by the Company’s Board of Directors or designated committee of the Company’s Board of Directors. Stock Option Activity The following is a summary of the stock option award activity during the nine months ended September 30, 2021: Number Weighted- Weighted- Aggregate Outstanding at December 31, 2020 1,247,158 $ 5.16 9.34 $ 1,486 Granted 786,407 8.08 Exercised — — Forfeited ( 127,721 ) ( 5.16 ) Outstanding at September 30, 2021 1,905,844 $ 6.37 9.02 $ 2,372 Exercisable at September 30, 2021 297,008 $ 3.62 8.12 $ 1,031 Options expected to vest as of September 30, 2021 1,608,836 $ 6.87 9.18 $ 1,341 The weighted-average grant date fair value of options granted during the nine months ended September 30, 2021 and 2020 is $ 5.79 and $ 0.96 , respectively. The aggregate intrinsic value is calculated as the difference between the exercise price and the market price of the Company’s common stock at the date of exercise. Stock-Based Compensation Expense For the nine months ended September 30, 2021 and 2020 , the Company utilized the Black-Scholes option-pricing model for estimating the fair value of the stock options. The following table presents the assumptions and the Company’s methodology for developing each of the assumptions used: September 30, September 30, Volatility 88.78 %- 89.15 % 83.3 %- 91.8 % Expected life (years) 5.49 - 6.27 6.08 Risk-free interest rate 0.66 %- 0.70 % 0.5 %- 1.4 % Dividend rate — % — %  Volatility—The Company estimates the expected volatility of its common stock at the date of grant based on the historical volatility of comparable public companies over the expected term.  Expected life—The expected term represents the period that the Company’s stock option grants are expected to be outstanding. The expected term of the options granted to employees and non-employee directors by the Company has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option.  Risk-free interest rate—The risk-free rate for periods within the estimated life of the stock award is based on the U.S. Treasury yield curve in effect at the time of grant.  Dividend rate—The assumed dividend yield is based upon the Company’s expectation of not paying dividends in the foreseeable future. Stock-based compensation expense was recorded in the following line items in the condensed statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Research and development $ 129 $ 13 $ 477 $ 46 General and administrative 348 3 753 8 Total stock-based compensation expense $ 477 $ 16 $ 1,230 $ 54 No related tax benefits from stock-based compensation expense were recognized for the three and nine months ended September 30, 2021 and 2020. As of September 30, 2021 , there was $ 7.1 million in unrecognized stock-based compensation expense, which is expected to be recognized over a weighted-average period of 3.16 years.

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2021
License Agreements [Abstract]
License Agreements	9. LICENSE AGREEMENTS Emory University, Children’s Healthcare of Atlanta, Inc. and UAB Research Foundation In June 2016, the Company entered into an exclusive license agreement with Emory University, Children’s Healthcare of Atlanta, Inc. and UAB Research Foundation ("UABRF"), as amended from time to time (the “Emory License Agreement”). The Emory License Agreement was amended in October 2017 and July 2020. Under the Emory License Agreement, the Company obtained an exclusive worldwide license under certain immunotherapy related patents and know-how related to gamma-delta T cells developed by Emory University, Children’s Healthcare of Atlanta, Inc. and UABRF’s affiliate, the University of Alabama at Birmingham, to develop, make, have made, use, sell, import and otherwise commercialize products that are covered by such patents or otherwise incorporate or use the licensed technology. Such exclusive license is subject to certain rights retained by these institutions and also the U.S. government. In consideration of the license granted under the Emory License Agreement, the Company paid Emory University a nominal upfront payment. In addition, the Company is required to pay Emory University development milestones totaling up to an aggregate of $ 1.4 million, low-single-digit to mid-single-digit tiered running royalties on the net sales of the licensed products, including an annual minimum royalty beginning on a specified period after the first sale of a licensed product, and a share of certain payments that the Company may receive from sublicenses. In addition, in the event no milestone payments have been paid in certain years, the Company will be required to pay an annual license maintenance fee. The Emory License Agreement also requires the Company to reimburse Emory University for the cost of the prosecution and maintenance of the licensed patents. Pursuant to the Emory License Agreement, the Company is required to use its best efforts to develop, manufacture and commercialize the licensed product, and is obligated to meet certain specified deadlines in the development of the licensed products. The term of the Emory License Agreement will continue until 15 years after the first commercial sale of the licensed product, or the expiration of the relevant licensed patents, whichever is later. The Company may terminate the Emory License Agreement at will at any time upon prior written notice to Emory University. Emory University has the right to terminate the Emory License Agreement if the Company materially breaches the agreement (including failure to meet diligence obligations) and fails to cure such breach within a specified cure period, if the Company becomes bankrupt or insolvent or decides to cease development and commercialization of the licensed product, or if the Company challenges the validity or enforceability of any licensed patents. Exclusive License Agreement with UABRF In March 2016, the Company entered into an exclusive license agreement with UABRF, as amended from time to time (the “UABRF License Agreement”). The Company amended the UABRF License Agreement in December 2016, January 2017, June 2017 and November 2018. Under the UABRF License Agreement, the Company obtained an exclusive worldwide license under certain immunotherapy-related patents related to the use of gamma-delta T cells, certain CAR-T cells and combination treatments for cellular therapies developed by the University of Alabama at Birmingham and owned by UABRF to develop, make, have made, use, sell, import and otherwise commercialize products that are covered by such patents. Such exclusive license is subject to certain rights retained by UABRF and also the U.S. government. In consideration of the license granted under the UABRF License Agreement, the Company paid UABRF a nominal upfront payment and issued 91,250 shares of common stock to UABRF, which were subject to certain antidilution rights. In addition, the Company is required to pay UABRF development milestones totaling up to an aggregate of $ 1.4 million, lump-sum royalties on cumulative net sales totaling up to an aggregate of $ 22.5 million, mid-single-digit running royalties on net sales of the licensed products, low-single-digit running royalties on net sales of the licensed products, and a share of certain non-royalty income that the Company may receive, including from any sublicenses. The UABRF License Agreement also requires the Company to reimburse UABRF for the cost of the prosecution and maintenance of the licensed patents. Pursuant to the UABRF License Agreement, the Company is required to use good faith reasonable commercial efforts to develop, manufacture and commercialize the licensed product. The term of the UABRF License Agreement will continue until the expiration of the licensed patents. The Company may terminate the UABRF License Agreement at will at any time upon prior written notice to UABRF. UABRF has the right to terminate the UABRF License Agreement if the Company materially breaches the agreement and fails to cure such breach within a specified cure period, if the Company fails to diligently undertake development and commercialization activities as set forth in the development and commercialization plan, if the Company underreports its payment obligations or underpays by more than a specified threshold, if the Company challenges the validity or enforceability of any licensed patents, or if the Company becomes bankrupt or insolvent. Antidilution Provision The antidilution provision required the Company to issue additional shares of common stock such that UABRF maintains a 2.5 % ownership interest in the Company until it has raised at least $ 20.0 million through one or more rounds of investment. As of September 30, 2021 , the Company had a total of 151,382 shares of common stock issued in satisfaction of this antidilution provision. The Company assessed the antidilution right and determined that the right (i) meets the definition of a freestanding financial instrument that was not indexed to the Company’s own stock and (ii) meets the definition of a derivative and did not qualify for equity classification. The initial fair value of the antidilution liability, and the value at June 30, 2020, was determined to be immaterial based on the remote probability of an additional financing and the immaterial value of the total number of shares that could be issued pursuant to the provision. The antidilution provision was settled in August 2020 when the Company raised an additional $ 19.8 million in gross proceeds through the issuance and sale of Series A Preferred Stock for a total of $ 35.0 million in gross proceeds related to the issuance and sale of Series A Preferred Stock.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	10. NET LOSS PER SHARE Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share is the same as basic net loss per share for the periods presented since the effects of potentially dilutive securities are antidilutive given the net loss of the Company. Basic and diluted net loss per share attributable to common stockholders is calculated as follows (in thousands except share and per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net loss $ ( 3,391 ) $ ( 1,681 ) $ ( 8,804 ) $ ( 6,246 ) Cumulative dividends on convertible preferred stock — ( 501 ) — ( 1,065 ) Net loss attributable to common stockholders $ ( 3,391 ) $ ( 2,182 ) $ ( 8,804 ) $ ( 7,311 ) Net loss per share—basic and diluted $ ( 0.25 ) $ ( 0.60 ) $ ( 1.26 ) $ ( 2.14 ) Weighted-average number of shares used in computing net loss 13,377,682 3,614,329 7,004,099 3,410,101 The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is antidilutive: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Convertible preferred stock — 5,514,404 — 9,762,331 Stock options to purchase common stock 353,554 — 1,905,844 358,892 Warrants to purchase preferred stock — — — 231,396

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	11. COMMITMENTS AND CONTINGENCIES Intellectual Property The Company has existing commitments to the licensors of the intellectual property which the Company has licensed. These commitments are based upon certain clinical research, regulatory, financial and sales milestones being achieved. Additionally, the Company is obligated to pay a single-digit royalty on commercial sales on a global basis. The royalty term is the later of 10 years from first commercial sale or expiration of the last-to-expire component of the licensed intellectual property.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	12. LEASES The Company has historically entered into lease arrangements for its facilities. As of December 31, 2020, the Company had three operating leases with required future minimum payments. In applying the transition guidance under ASC 842, the Company determined the classification of these leases to be operating leases and recorded right-of-use assets and lease liabilities as of the effective dates. The Company’s leases generally do not include termination or purchase options. Equipment Leases The Company entered into an agreement with an equipment leasing company in 2018, which provided up to $ 1.4 million for equipment purchases in the form of sale and leasebacks or direct leases. As of September 30, 2021 , the Company had completed the sale and leaseback for four pieces of equipment and is leasing three other items directly from the leasing company. The terms of the leases are three years and afterwards provide for either annual extensions or an outright purchase of the equipment. The equipment leases require two advance rental payments to be held as security deposits. The security deposits held amounted to approximately $ 0.1 million as of September 30, 2021 and December 31, 2020. They are included in other non-current assets on the condensed balance sheet. Operating Leases In December 2020, the Company entered into an operating lease for office space in Birmingham, Alabama, for a 63-month term, ending in March 2026, with an option to extend five years . Throughout the term of the lease, the Company is responsible for paying certain costs and expenses, in addition to the rent, as specified in the lease, including a proportionate share of applicable taxes, operating expenses and utilities. In December 2020, the Company entered into an operating lease for laboratory space in Birmingham, Alabama, for a 63-month term, ending in March 2026, with an option to extend five years . Throughout the term of the lease, the Company is responsible for paying certain costs and expenses, in addition to the rent, as specified in the lease, including a proportionate share of applicable taxes, operating expenses and utilities. In September 2021, the Company entered into a new operating lease for office space in New York, New York, with a term commencing on September 15, 2021 and continuing through March 2027 . Throughout the term of the lease, the Company is responsible for paying certain costs and expenses, in addition to the rent, as specified in the lease, including a proportionate share of applicable taxes, operating expenses and utilities. In September 2021, the Company entered into a build-to-suit lease agreement with ECBuild to build out the Company's labs in Birmingham Alabama. The agreement has a threshold of $ 4.0 million in total costs incurred. The operating leases required security deposits at the inception of each lease. The security deposits amounted to approximately $ 268,000 for the nine months ended September 30, 2021. They are included in other non-current assets on the condensed balance sheet. The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s finance and operating leases for the three and nine months ended September 30, 2021 (in thousands): Three Months Ended Nine Months Ended Lease Cost Amortization of finance right-of-use assets $ 141 $ 392 Interest on finance lease liabilities 22 67 Operating lease cost 63 168 Short-term lease cost 118 367 Total lease cost $ 344 $ 994 September 30, Other Operating Lease Information Cash paid for amounts included in the measurement of lease liability – finance leases $ 67 Cash paid for amounts included in the measurement of lease liability – operating leases 105 Weighted-average remaining lease term – finance leases 1.83 Weighted-average remaining lease term – operating leases 4.96 Weighted-average discount rate – finance leases 10.2 % Weighted-average discount rate – operating leases 10.4 % The following table reconciles the undiscounted cash flows to the operating and financing lease liabilities at September 30, 2021 (in thousands): Financing Leases Operating Leases Remainder of 2021 $ 164 $ 53 2022 435 405 2023 252 478 2024 30 490 2025 — 502 Thereafter — 357 Total lease payment 881 2,285 Less: interest 74 528 Total lease liabilities 807 1,757 Less: short-term lease liability 464 164 Long-term lease liability $ 343 $ 1,593

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying condensed financial statements in conformity with generally accepted accounting principles in the United States (“US GAAP”).
Unaudited Interim Financial Information	Un audited Interim Financial Information The condensed financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted from these condensed financial statements, as is permitted by such rules and regulations. Accordingly, these condensed financial statements should be read in conjunction with the financial statements and notes thereto for the years ended December 31, 2020 and 2019 included in the Company’s final prospectus that forms part of the Company’s Registration Statement on Form S-1 (File No. 333-249530), filed with the SEC pursuant to Rule 424(b)(4) on July 30, 2021 (the “Prospectus”). The results for any interim period are not necessarily indicative of results for any future period. In the opinion of the Company’s management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement of the results for the interim periods presented have been included.
Use of Estimates	Use of Estimates The preparation of condensed financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of expenses during the reporting periods presented. Such estimates and assumptions are used for, but are not limited to, the accrual of research and development expenses, deferred tax assets and liabilities and related valuation allowance, fair value of common stock and stock-based compensation, and the useful lives of property and equipment. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Actual results could differ from those estimates.
Leases	Leases Effective January 1, 2021, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) (“ASU 2016-02” or “ASC 842”), using the modified retrospective method and utilized the effective date as its date of initial application, with prior periods presented in accordance with previous guidance under Accounting Standards Codification ("ASC") 840, Leases . At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the balance sheet as right-of-use assets and current and non-current lease liabilities, as applicable. Operating lease liabilities and their corresponding right-of-use assets are initially recorded based on the present value of lease payments over the expected remaining lease term. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Prospectively, the Company will adjust the right-of-use assets for straight-line rent expense and remeasure the lease liability at the net present value using the same incremental borrowing rate that was in effect as of the lease commencement or transition date. The Company elected the following practical expedients, which must be elected as a package and applied consistently to all of its leases at the transition date (including those for which the entity is a lessee or a lessor): i) the Company did not reassess whether any expired or existing contracts are or contain leases; ii) the Company did not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with ASC 840 are classified as operating leases, and all existing leases that were classified as capital leases in accordance with ASC 840 are classified as finance leases); and iii) the Company did not reassess initial direct costs for any existing leases. For leases that existed prior to the date of initial application of ASC 842 (which were previously classified as operating leases), a lessee may elect to use either the total lease term measured at lease inception under ASC 840 or the remaining lease term as of the date of initial application of ASC 842 in determining the period for which to measure its incremental borrowing rate. In transition to ASC 842, the Company utilized the remaining lease term of its leases in determining the appropriate incremental borrowing rates. In accordance with ASC 842, components of a lease should be split into three categories: lease components, non-lease components, and non-components. The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. Entities may elect not to separate lease and non-lease components. The Company has elected to account for lease and non-lease components together as a single lease component for all underlying assets and allocate all of the contract consideration to the lease component only. On the adoption date, $ 1.7 million was recognized as total lease liabilities and $ 1.8 million was recognized as total right-of-use assets on the Company’s condensed balance sheet.
Deferred Offering Costs	Deferred Offering Costs The Company capitalizes certain legal, professional accounting and other third-party fees that are directly associated with in-process preferred stock or common stock financings as deferred offering costs until such financings are consummated. As of August 3, 2021, the date of the closing of the Company's IPO, the Company had deferred offering costs related to the IPO of $ 4.0 million. After closing of the IPO, these costs were recorded in stockholders' equity (deficit) as a reduction of additional paid-in capital generated as a result of the offering.
Recently Issued Accounting Standards Updates	Recently Issued Accounting Standards Updates In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes . ASU No. 2019-12 eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This update is effective for entities other than public business entities, including emerging growth companies that elected to defer compliance with new or revised financial accounting standards until a company that is not an issuer is required to comply with such standards, for annual reporting periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. The Company is currently evaluating the impact, if any, that the adoption of this guidance will have on the condensed financial statements.

Property And Equipment, Net (Ta

Property And Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Components of Property and Equipment, Net	Property and equipment, net consist of the following (in thousands): September 30, December 31, Machinery and equipment $ 443 $ 443 Less accumulated depreciation ( 324 ) ( 257 ) Construction in progress 183 — Property and equipment, net $ 302 $ 186

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, Prepaid expenses $ 3,167 $ 150 Other 35 — Prepaid expenses and other current assets $ 3,202 $ 150

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): September 30, December 31, Accrued offering costs $ — $ 876 Accrued clinical trials 164 376 Accrued compensation 474 400 Accrued other 202 126 Total accrued expenses and other current liabilities $ 840 $ 1,778

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Award Activity	The following is a summary of the stock option award activity during the nine months ended September 30, 2021: Number Weighted- Weighted- Aggregate Outstanding at December 31, 2020 1,247,158 $ 5.16 9.34 $ 1,486 Granted 786,407 8.08 Exercised — — Forfeited ( 127,721 ) ( 5.16 ) Outstanding at September 30, 2021 1,905,844 $ 6.37 9.02 $ 2,372 Exercisable at September 30, 2021 297,008 $ 3.62 8.12 $ 1,031 Options expected to vest as of September 30, 2021 1,608,836 $ 6.87 9.18 $ 1,341
Schedule of Estimating Fair Value of the Stock Options and Common stock Warrants Granted	The following table presents the assumptions and the Company’s methodology for developing each of the assumptions used: September 30, September 30, Volatility 88.78 %- 89.15 % 83.3 %- 91.8 % Expected life (years) 5.49 - 6.27 6.08 Risk-free interest rate 0.66 %- 0.70 % 0.5 %- 1.4 % Dividend rate — % — %
Schedule of Stock-based Compensation Expense	Stock-based compensation expense was recorded in the following line items in the condensed statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Research and development $ 129 $ 13 $ 477 $ 46 General and administrative 348 3 753 8 Total stock-based compensation expense $ 477 $ 16 $ 1,230 $ 54

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Share	Basic and diluted net loss per share attributable to common stockholders is calculated as follows (in thousands except share and per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net loss $ ( 3,391 ) $ ( 1,681 ) $ ( 8,804 ) $ ( 6,246 ) Cumulative dividends on convertible preferred stock — ( 501 ) — ( 1,065 ) Net loss attributable to common stockholders $ ( 3,391 ) $ ( 2,182 ) $ ( 8,804 ) $ ( 7,311 ) Net loss per share—basic and diluted $ ( 0.25 ) $ ( 0.60 ) $ ( 1.26 ) $ ( 2.14 ) Weighted-average number of shares used in computing net loss 13,377,682 3,614,329 7,004,099 3,410,101
Schedule of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is antidilutive: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Convertible preferred stock — 5,514,404 — 9,762,331 Stock options to purchase common stock 353,554 — 1,905,844 358,892 Warrants to purchase preferred stock — — — 231,396

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Summary of Lease Costs and Other Information to Company's Finance and Operating Liabilities	The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s finance and operating leases for the three and nine months ended September 30, 2021 (in thousands): Three Months Ended Nine Months Ended Lease Cost Amortization of finance right-of-use assets $ 141 $ 392 Interest on finance lease liabilities 22 67 Operating lease cost 63 168 Short-term lease cost 118 367 Total lease cost $ 344 $ 994 September 30, Other Operating Lease Information Cash paid for amounts included in the measurement of lease liability – finance leases $ 67 Cash paid for amounts included in the measurement of lease liability – operating leases 105 Weighted-average remaining lease term – finance leases 1.83 Weighted-average remaining lease term – operating leases 4.96 Weighted-average discount rate – finance leases 10.2 % Weighted-average discount rate – operating leases 10.4 %
Schedule of Reconciliation of Undiscounted Cash Flows to Operating and Financing Lease Liabilities	The following table reconciles the undiscounted cash flows to the operating and financing lease liabilities at September 30, 2021 (in thousands): Financing Leases Operating Leases Remainder of 2021 $ 164 $ 53 2022 435 405 2023 252 478 2024 30 490 2025 — 502 Thereafter — 357 Total lease payment 881 2,285 Less: interest 74 528 Total lease liabilities 807 1,757 Less: short-term lease liability 464 164 Long-term lease liability $ 343 $ 1,593

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 03, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Organization And Nature Of Operations [Line Items]
Losses from operations		$ 3,391	$ 1,681	$ 8,804	$ 6,246
Accumulated deficit		(26,842)		(26,842)		$ (18,038)
Cash		40,675		40,675		$ 17,994
IPO [Member]
Organization And Nature Of Operations [Line Items]
Sale of stock, date	Aug. 3, 2021
Sale of shares	4,000,000
Offering price, per share	$ 10
Aggregate net proceeds from offering	$ 32,300
Conversion of convertible preferred stock to common stock, shares	10,990,065
Series A Financing
Organization And Nature Of Operations [Line Items]
Losses from operations				(8,800)	$ (6,200)
Accumulated deficit		$ (26,800)		$ (26,800)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Aug. 03, 2021	Jan. 01, 2021	Dec. 31, 2020
Significant Accounting Policies [Line Items]
Lease liabilities	$ 1,757
Right-of-use assets	1,697			$ 0
Deferred offering costs	$ 0			$ 2,439
IPO [Member]
Significant Accounting Policies [Line Items]
Deferred offering costs		$ 4,000
Accounting Standards Update 2016-02
Significant Accounting Policies [Line Items]
Lease liabilities			$ 1,700
Right-of-use assets			$ 1,800

Property And Equipment, Net - S

Property And Equipment, Net - Schedule of Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 443	$ 443
Less accumulated depreciation	(324)	(257)
Construction in progress	183	0
Property and equipment, net	$ 302	$ 186

Property And Equipment, Net - A

Property And Equipment, Net - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 22,000	$ 22,000	$ 67,000	$ 66,000

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Components of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses	$ 3,167	$ 150
Other	35	0
Prepaid expenses and other current assets	$ 3,202	$ 150

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued offering costs	$ 0	$ 876
Accrued clinical trials	164	376
Accrued compensation	474	400
Accrued other	202	126
Total accrued expenses and other current liabilities	$ 840	$ 1,778

Debt - Additional Information (

Debt - Additional Information (Details) - Paycheck Protection Program [Member] - USD ($) $ in Thousands	1 Months Ended
	Aug. 31, 2021	Apr. 30, 2020
Debt Instrument [Line Items]
Loan		$ 200
Loan maturity, date		Apr. 16, 2022
Interest Rate		1.00%
Debt instrument, Payment terms		monthly
Debt instrument, Date of first required payment		Nov. 16, 2020
Prepayment penalties		$ 0
Repayment of loan	$ 200

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) - Additional Information (Details) - shares	Aug. 03, 2021	Sep. 30, 2021	Aug. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Common stock, shares authorized		490,000,000		50,700,000
Common stock, shares, issued		18,754,553		3,764,488
Common stock, shares, outstanding		18,754,553		3,764,488
IPO [Member]
Class Of Stock [Line Items]
Common stock, shares authorized		490,000,000	490,000,000	50,700,000
Undesignated Preferred stock shares, authorized			10,000,000
Common stock, shares, issued		18,754,553		3,764,488
Common stock, shares, outstanding		18,754,553		3,764,488
Conversion of convertible preferred stock to common stock, shares	10,990,065

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Weighted average grant-date fair value of options granted				$ 5.79	$ 0.96
Tax benefit from stock based compensation expense		$ 0	$ 0	$ 0	$ 0
Restricted Stock [Member]
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Share-based payment arrangement, unrecognized stock based compensation cost		$ 7,100,000		$ 7,100,000
Performance Based Award [Member]
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Weighted-average period over which cost not yet recognized is expected to be recognized				3 years 1 month 28 days
2018 Equity Incentive Plan
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Share-based payment award, shares issued in period				0
2020 Equity Incentive Plan
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Common stock reserved for future issuance	4,200,000
Shares reserved of issuance under the plan increase duration	10 years
Percentage of number of shares of common stock outstanding	5.00%
Maximum number of shares of common stock issuable	13,000,000
Share-based payment award, number of shares available for grant	11,021,808
2020 Employee Stock Purchase Plan
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Share-based payment award, shares issued in period				0
Common stock reserved for future issuance	200,000
Shares reserved of issuance under the plan increase duration	10 years
Percentage of number of shares of common stock outstanding	1.00%
Maximum number of shares of common stock issuable	400,000
Share-based payment award, number of shares available for grant		200,000		200,000

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock Option Award Activities (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Options outstanding, beginning balance	1,247,158
Options granted	786,407
Options exercised	0
Options forfeited	(127,721)
Options outstanding, ending balance	1,905,844	1,247,158
Options exercisable	297,008
Options vested or expected to vest	1,608,836
Options outstanding, weighted average exercise price, beginning balance	$ 5.16
Options granted, weighted average exercise price	8.08
Options exercised, weighted average exercise price	0
Options forfeited, weighted average exercise price	(5.16)
Options outstanding, weighted average exercise price, ending balance	6.37	$ 5.16
Options exercisable, weighted average exercise price	3.62
Options vested or expected to vest, weighted average exercise price	$ 6.87
Options outstanding, weighted average remaining contractual term	9 years 7 days	9 years 4 months 2 days
Options exercisable, weighted average remaining contractual term	8 years 1 month 13 days
Options vested or expected to vest, weighted average remaining contractual term	9 years 2 months 4 days
Options outstanding, aggregate intrinsic value	$ 2,372	$ 1,486
Options exercisable, aggregate intrinsic value	1,031
Options vested or expected to vest, aggregate intrinsic value	$ 1,341

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Estimating Fair Value of the Stock Options and Common stock Warrants Granted (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)		6 years 29 days
Risk-free interest rate minimum	0.66%	0.50%
Risk-free interest rate maximum	0.70%	1.40%
Dividend rate	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	88.78%	83.30%
Expected life (years)	5 years 5 months 26 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	89.15%	91.80%
Expected life (years)	6 years 3 months 7 days

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 477	$ 392	$ 361	$ 16	$ 20	$ 18	$ 1,230	$ 54
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	129			13			477	46
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 348			$ 3			$ 753	$ 8

License Agreements - Additional

License Agreements - Additional Information (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2020	Sep. 30, 2021	Dec. 31, 2020
Common stock, shares, issued		18,754,553	3,764,488
UABRF [Member] | Antidilution Provision [Member]
Common stock, shares, issued		151,382
Equity Method Investment, Ownership Percentage		2.50%
Raise of investment		$ 20,000,000
UABRF [Member] | Antidilution Provision [Member] | Series A Preferred Stock [Member]
Raise of investment	$ 19,800,000
Preferred stock shares issued	$ 35,000,000
Emory License Agreement [Member] | UABRF [Member]
Aggregate pay for development milestones total		$ 1,400,000
License agreement description		The term of the Emory License Agreement will continue until 15 years after the first commercial sale of the licensed product, or the expiration of the relevant licensed patents, whichever is later.
Exclusive License Agreement [Member] | UABRF [Member]
Common stock, shares, issued		91,250
Royalties on cumulative net sales		$ 22,500,000
Exclusive License Agreement [Member] | UABRF [Member] | Maximum
Milestone payment		$ 1,400,000

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (3,391)	$ (3,050)	$ (2,363)	$ (1,681)	$ (2,874)	$ (1,691)	$ (8,804)	$ (6,246)
Cumulative dividends on convertible preferred stock	0			(501)			0	(1,065)
Net loss attributable to common stockholders	$ (3,391)			$ (2,182)			$ (8,804)	$ (7,311)
Net loss per share attributable to common stockholders – basic and diluted	$ (0.25)			$ (0.60)			$ (1.26)	$ (2.14)
Weighted-average number of shares used in computing net loss per common share, basic and diluted	13,377,682			3,614,329			7,004,099	3,410,101

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted net loss per share	0	5,514,404	0	9,762,331
Stock Options To Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted net loss per share	353,554	0	1,905,844	358,892
Warrants to Purchase Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted net loss per share	0	0	0	231,396

Commitments and Contingencies (

Commitments and Contingencies (Additional Information) (Details)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Royalty term	10 years

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Agreement Threshold		$ 344,000	$ 994,000
Birmingham, Alabama
Loss Contingencies [Line Items]
Security deposit	$ 268,000	268,000	$ 268,000
New York [Member]
Loss Contingencies [Line Items]
Lease expiration month and year	2027-03
Office Building | Birmingham, Alabama
Loss Contingencies [Line Items]
Operating lease, term of contract				63 months
Operating lease, option to extend				option to extend five years
Operating lease, existence of option to extend				true
Laboratory | Birmingham, Alabama
Loss Contingencies [Line Items]
Operating lease, term of contract				63 months
Operating lease, option to extend				option to extend five years
Operating lease, existence of option to extend				true
Maximum
Loss Contingencies [Line Items]
Agreement Threshold	$ 4,000,000
Equipment
Loss Contingencies [Line Items]
Leaseback transaction, description			Company had completed the sale and leaseback for four pieces of equipment and is leasing three other items directly from the leasing company. The terms of the leases are three years and afterwards provide for either annual extensions or an outright purchase of the equipment.
Security deposit	100,000	100,000	$ 100,000	$ 100,000
Equipment | Maximum
Loss Contingencies [Line Items]
Amount held for equipment purchases	$ 1,400,000	$ 1,400,000	$ 1,400,000

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs and Other Information to Company's Finance and Operating Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Lease Cost
Amortization of finance right-of-use assets	$ 141	$ 392	$ 0
Interest on finance lease liabilities	22	67
Operating lease cost	63	168
Short-term lease cost	118	367
Total lease cost	344	994
Cash paid for amounts included in the measurement of lease liability – finance leases	67	67
Cash paid for amounts included in the measurement of lease liability – operating leases	$ 105	$ 105
Weighted-average remaining lease term – finance leases	1 year 9 months 29 days	1 year 9 months 29 days
Weighted-average remaining lease term – operating leases	4 years 11 months 15 days	4 years 11 months 15 days
Weighted-average discount rate – finance leases	10.20%	10.20%
Weighted-average discount rate – operating leases	10.40%	10.40%

Leases - Schedule of Reconcilia

Leases - Schedule of Reconciliation of Undiscounted Cash Flows to Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Remainder of 2021	$ 164
2022	435
2023	252
2024	30
2025	0
Thereafter	0
Total lease payment	881
Less: interest	74
Total lease liability	807
Short-term financing lease liability	464	$ 0
Long-term financing lease liability	343	0
Remainder of 2021	53
2022	405
2023	478
2024	490
2025	502
Thereafter	357
Total lease payment	2,285
Less: interest	528
Total lease liability	1,757
Short-term operating lease liability	164	0
Long-term operating lease liability	$ 1,593	$ 0