Nkarta (NKTX) 10-K 17 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 14, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-39370
Entity Registrant Name	Nkarta, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4515206
Entity Address, Address Line One	6000 Shoreline Court
Entity Address, Address Line Two	Suite 102
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	415
Local Phone Number	582-4923
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	NKTX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,000,863
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001787400
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
ICFR Auditor Attestation Flag	false
Entity Public Float			$ 441.4
Auditor Name	Ernst & Young LLP
Auditor Location	Redwood City, California
Auditor Firm ID	42
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement for the 2022 Annual Meeting of Stockholders to be filed with the U.S. Securities and Exchange Commission pursuant to Regulation 14A within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference in Part III, Items 10-14 of this Annual Report on Form 10-K.

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 60,816	$ 96,692
Short-term investments, available-for-sale	177,272	218,221
Prepaid expenses and other current assets	7,692	3,922
Total current assets	245,780	318,835
Restricted cash	2,098	413
Property and equipment, net	12,856	9,350
Operating lease right-of-use assets	11,678	8,505
Other long-term assets	1,491	547
Total assets	273,903	337,650
Current liabilities:
Accounts payable	1,112	1,176
Operating lease liabilities, current portion	2,484	1,402
Accrued and other current liabilities	9,347	6,253
Total current liabilities	12,943	8,831
Operating lease liabilities, net of current portion	9,975	7,517
Other long-term liabilities	18	82
Total liabilities	22,936	16,430
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $0.0001 par value; 54,350,179 shares authorized at December 31, 2021 and 2020; no shares issued and outstanding at December 31, 2021 and 2020
Common stock, $0.0001 par value; 100,000,000 shares authorized at December 31, 2021 and 2020; 32,971,107 and 32,627,963 shares issued and outstanding at December 31, 2021 and 2020, respectively	3	3
Additional paid-in capital	455,210	439,235
Accumulated other comprehensive income (loss)	(150)	3
Accumulated deficit	(204,096)	(118,021)
Total stockholders' equity	250,967	321,220
Total liabilities and stockholders' equity	$ 273,903	$ 337,650

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	54,350,179	54,350,179
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	32,971,107	32,627,963
Common stock, shares outstanding	32,971,107	32,627,963

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
Research and development	$ 63,412,000	$ 36,220,000
General and administrative	23,017,000	15,288,000
Total operating expenses	86,429,000	51,508,000
Loss from operations	(86,429,000)	(51,508,000)
Other income (expense), net:
Change in fair value of preferred stock purchase right liability		(40,163,000)
Interest income	370,000	313,000
Other expense, net	(16,000)	(3,000)
Total other income (expense), net	354,000	(39,853,000)
Net loss	(86,075,000)	(91,361,000)
Comprehensive loss:
Net loss	(86,075,000)	(91,361,000)
Other comprehensive (loss) gain:
Unrealized (loss) gain on securities	(153,000)	5,000
Comprehensive loss	$ (86,228,000)	$ (91,356,000)
Net loss per share, basic and diluted	$ (2.62)	$ (5.44)
Weighted-average number of common shares used in net loss per share, basic and diluted	32,856,883	16,806,262

Statements of Convertible Prefe

Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Convertible Preferred Stock
Temporary Equity, Beginning Balance at Dec. 31, 2019						$ 59,815
Temporary Equity, Beginning Balance, Shares at Dec. 31, 2019						27,283,973
Beginning Balance at Dec. 31, 2019	$ (25,482)	$ 1	$ 1,179	$ (26,660)	$ (2)
Beginning Balance, Shares at Dec. 31, 2019		1,600,601
Temporary equity, Issuance of Series B convertible preferred stock, net of issuance costs						$ 64,321
Temporary equity, Issuance of Series B convertible preferred stock, net of issuance costs, Shares						27,066,206
Reclassification of preferred stock purchase right liability to equity upon issuance of convertible preferred stock						$ 41,641
Temporary equity, conversion of convertible preferred stock to common stock						$ (165,777)
Temporary equity, conversion of convertible preferred stock to common stock, Shares						(54,350,179)
Conversion of convertible preferred stock to common stock	165,777	$ 1	165,776
Conversion of convertible preferred stock to common stock, Shares		14,689,215
Issuance of common stock upon initial public offering, net of issuance costs	265,096	$ 1	265,095
Issuance of common stock upon initial public offering, net of issuance costs, Shares		16,100,000
Vesting of shares of common stock subject to repurchase	50		50
Vesting of shares of common stock subject to repurchase, Shares		85,304
Issuance of common stock upon exercise of stock option	387		387
Issuance of common stock upon exercise of stock option , Shares		152,843
Share-based compensation expense	6,748		6,748
Unrealized gain (loss) on short-term investments	5				5
Net loss	(91,361)			(91,361)
Temporary Equity, Ending Balance, Shares at Dec. 31, 2020						0
Ending Balance at Dec. 31, 2020	321,220	$ 3	439,235	(118,021)	3
Ending Balance, Shares at Dec. 31, 2020		32,627,963
Vesting of shares of common stock subject to repurchase	35		35
Vesting of shares of common stock subject to repurchase, Shares		62,045
Issuance of common stock upon exercise of stock option	1,479		1,479
Issuance of common stock upon exercise of stock option , Shares		281,099
Share-based compensation expense	14,461		14,461
Unrealized gain (loss) on short-term investments	(153)				(153)
Net loss	(86,075)			(86,075)
Temporary Equity, Ending Balance, Shares at Dec. 31, 2021						0
Ending Balance at Dec. 31, 2021	$ 250,967	$ 3	$ 455,210	$ (204,096)	$ (150)
Ending Balance, Shares at Dec. 31, 2021		32,971,107

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (86,075)	$ (91,361)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	14,461	6,748
Depreciation and amortization expense	1,756	786
Accretion of discount and amortization of premium on investments, net	3,237	738
Non-cash lease expense	367	262
Change in fair value of preferred stock purchase right liability		40,163
Others	(30)	(14)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(4,435)	(3,645)
Accounts payable and accrued and other liabilities	2,792	2,817
Net cash used in operating activities	(67,927)	(43,506)
Cash flows from investing activities:
Purchases of available-for-sale securities	(227,282)	(222,570)
Proceeds from maturities of available-for-sale securities	264,841	20,000
Purchase of property and equipment	(5,025)	(7,511)
Net cash provided by (used in) investing activities	32,534	(210,081)
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock, net of issuance costs		64,321
Proceeds from initial public offering, net of issuance costs		265,096
Proceeds from stock option exercises	1,479	387
Proceeds from early exercise of stock options		13
Payments of deferred offering costs	(277)
Net cash provided by financing activities	1,202	329,817
Net (decrease) increase in cash and cash equivalents	(34,191)	76,230
Cash, cash equivalents and restricted cash at beginning of year	97,105	20,875
Cash, cash equivalents and restricted cash at end of year	62,914	97,105
Reconciliation of cash, cash equivalents and restricted cash to the balance sheets:
Cash and cash equivalents	60,816	96,692
Restricted cash	2,098	413
Total cash, cash equivalents and restricted cash	62,914	97,105
Supplemental disclosures of non-cash investing and financing activities:
Acquisitions of property and equipment	$ 238	$ 455

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	1. Description of Business Description of the Business Nkarta, Inc. (“Nkarta” or the “Company”) was incorporated in the State of Delaware in July 2015. The Company is a biopharmaceutical company developing engineered natural killer (“NK”) cells to treat cancer. The Company is focused on leveraging the natural potent power of NK cells to identify and kill abnormal cells and recruit adaptive immune effectors to generate responses that are specific and durable. Nkarta is combining its NK expansion platform technology with proprietary cell engineering technologies to generate an abundant supply of NK cells, engineer enhanced NK cell recognition of tumor targets, and improve persistence for sustained activity in the body for the treatment of cancer. Nkarta’s goal is to develop off-the-shelf NK cell therapy product candidates to improve outcomes for patients. The Company’s operations are based in South San Francisco, California and it operates in one segment. Initial Public Offering On July 14, 2020, the Company completed its initial public offering (“IPO”). The Company’s Registration Statement on Form S-1 (File No. 333-239301) relating to the IPO was declared effective by the Securities and Exchange Commission (“SEC”) on July 9, 2020. The shares began trading on the Nasdaq Global Select Market on July 10, 2020. The Company issued 16,100,000 shares of its common stock, including 2,100,000 shares associated with the full exercise of the underwriters’ option to purchase additional shares, at an offering price of $ 18.00 per share. Immediately prior to the closing of the Company’s IPO on July 14, 2020, all outstanding shares of the Company’s convertible preferred stock were converted into 14,689,215 shares of the Company’s common stock. In aggregate, the shares issued in the IPO generated approximately $ 265.1 million in net proceeds after deducting underwriting discounts and commissions and other offering costs. Liquidity and Management Plans The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Since inception, the Company has devoted substantially all of its efforts to organizing and staffing, business planning, raising capital, conducting preclinical studies and initiating clinical studies, and has not realized substantial revenues from its planned principal operations. In addition, the Company has a limited operating history, has incurred operating losses since inception and expects that it will continue to incur net losses into the foreseeable future as it continues its research and development activities. As of December 31, 2021, the Company had an accumulated deficit of $ 204.1 million and cash, cash equivalents, restricted cash and short-term investments of $ 240.2 million. On August 12, 2021, the Company filed a Registration Statement on Form S-3 (the “Shelf Registration Statement”), covering the offer and sale from time to time, pursuant to Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of up to $ 500.0 million in aggregate offering price of shares of the Company’s common stock, shares of the Company’s preferred stock, debt securities, warrants, and rights and units. The Shelf Registration Statement was declared effective by the Securities and Exchange Commission (the “SEC”) on September 2, 2021. The Shelf Registration Statement included a prospectus covering the offer and sale from time to time of up to $ 150.0 million in aggregate offering price of shares of the Company’s common stock through an “at-the-market” equity offering program (the “ATM Offering Program”) with Cowen and Company, LLC, as sales agent. As of December 31, 2021, no sales of the Company’s common stock had been made pursuant to the ATM Offering Program. Management plans to continue to incur substantial costs in order to conduct research and development activities and additional capital will be needed to undertake these activities. The Company intends to raise such capital through d ebt or equity financings or other arrangements to fund operations. Management believes that the Company’s current cash, cash equivalents, restricted cash and short-term investments will provide sufficient funds to enable the Company to meet its obligations for at least twelve months from the filing date of this report.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principle (“U.S. GAAP”). Reverse Stock Split On July 1, 2020, the Company effected a 1-for- 3.7 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock. Accordingly, the conversion ratio for the Company’s outstanding convertible preferred stock was proportionately adjusted such that the common stock issuable upon conversion of such preferred stock was decreased in proportion to the Reverse Stock Split. The par value of the common stock was not adjusted as a result of the Reverse Stock Split. All references to common stock, options to purchase common stock, early exercised options, share data, per share data, convertible preferred stock (to the extent presented on an as-converted to common stock basis) and related information contained in these financial statements have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented. COVID-19 Pandemic The COVID-19 pandemic has caused disruptions in the global economy and has affected and may continue to affect the Company’s business and operations. The extent of the impact of the COVID-19 pandemic on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, the development and spread of more contagious and/or vaccine-resistant variants, the effectiveness of actions taken in the United States and other countries to contain, vaccinate against, and treat the disease, and the pandemic’s impact on the Company’s current and planned preclinical studies and clinical trials, employees and vendors, all of which are uncertain and cannot be predicted. The extent to which the COVID-19 pandemic may impact the Company’s financial condition or results of operations is uncertain. In response to the pandemic, CARES Act was signed into law on March 27, 2020. The CARES Act, among other things, includes tax provisions relating to refundable payroll tax credits, deferment of employer’s social security payments, net operating loss utilization and carryback periods, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act had no impact on the Company’s income tax provision for the year ended December 31, 2021. The Company continues to evaluate the impact of the CARES Act on its financial position, results of operations and cash flows. The Company currently does not expect to apply for loans or grants under the CARES Act. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to preclinical studies, fair value of assets and liabilities, share-based compensation and income taxes. Management bases its estimates on historical experience, knowledge of current events and actions it may undertake in the future that management believes to be reasonable under the circumstances. Actual results may differ from these estimates and assumptions. Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash, cash equivalents and short-term investments. The Company maintains cash, cash equivalents and short-term investments with various high credit quality and are invested through banks and other financial institutions in the United States. Such deposits may be 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. The Company has not experienced any losses on deposits since inception. Comprehensive Loss Comprehensive loss consists of net loss and unrealized gains or losses on available-for-sale investments. The Company displays comprehensive loss and its components as part of the statements of operations and comprehensive loss. 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: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts of prepaid expenses and other current assets, accounts payable, accrued liabilities and other current liabilities are reasonable estimates of their fair value due to the short-term nature of these accounts. Cash, Cash Equivalents, Short-term Investments and Restricted Cash Cash and Cash Equivalents The Company considers all highly liquid investments with insignificant interest rate risk and an original maturity of three months or less at the date of purchase to be cash equivalents. Cash includes demand deposits held in readily available checking accounts at a federally insured financial institution. Cash equivalents consist of money market funds. Short-term Investments Short-term investments consist of commercial debt securities, commercial paper and U.S. Government securities, classified as available-for-sale securities and have maturities of greater than three months but less than one year. The Company has classified all of its available-for-sale investment securities as current assets on the balance sheets because these are considered highly liquid securities and are available for use in current operations. The Company carries these securities at fair value, and reports unrealized gains and losses as a separate component of accumulated other comprehensive loss. The cost of debt securities is adjusted for amortization of purchase premiums and accretion of discounts to maturity. Such amortization and accretion is included in interest income in the statements of operations and comprehensive loss. Realized gains and losses on sales of securities are determined using the specific identification method and recorded in other income (expense), net in the statement of operations and comprehensive loss. Restricted Cash The Company is required to maintain letters of credit related to its office and lab space lease and the additional facility in South San Francisco that the Company plans to use for corporate offices, laboratories and manufacturing. This cash is the collateral for those letters of credit and per the terms of the leases must remain in place until one to two months after the termination of the leases. As the remaining terms of the leases as of December 31, 2021 is greater than one year, the related restricted cash has been classified as non-current. Property and Equipment, Net Property and equipment, which consist of leasehold improvements, furniture and fixtures, research equipment, computers and software and construction-in-progress are stated at cost less accumulated depreciation. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the assets, which ranges from three to five years . Leasehold improvements are amortized over the remaining life of the lease for leasehold improvements at the time the asset is placed into service. Impairment of Long-Lived Assets The carrying value of long-lived assets, including property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the asset may not be recoverable. An impairment loss is recognized when the total of estimated future undiscounted cash flows, expected to result from the use of the asset and its eventual disposition, are less than its carrying amount. Impairment, if any, would be assessed using discounted cash flows or other appropriate measures of fair value. Through December 31, 2021, there has been no such impairment losses recorded by the Company. Deferred Offering Costs Deferred offering costs that consisted of legal, accounting, printing and other fees and costs directly attributable to the IPO were capitalized. Upon the completion of the IPO in July 2020, the total deferred offering costs of $ 4.4 million were offset against the proceeds from the IPO and reclassified to additional paid-in capital on the balance sheet. Preferred Stock Purchase Right Liability The Company at times enters into convertible preferred stock financings where, in addition to the initial closing, investors agree to buy, and the Company agrees to sell, additional shares of that convertible preferred stock at a fixed price in the event that certain agreed upon milestones are achieved or at the election of investors. The Company evaluates this purchase right and assesses whether it meets the definition of a freestanding instrument and, if so, determines the fair value of the purchase right liability and records it on the balance sheets with the remainder of the proceeds raised being allocated to convertible preferred stock. The preferred stock purchase right liability is 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 in the statements of operations and comprehensive loss. A final revaluation adjustment of preferred stock purchase right liability was recorded at settlement in July 2020 and the resultant fair value was then reclassified to convertible preferred stock at that time. Convertible Preferred Stock The Company recorded all shares of convertible preferred stock at their respective issuance price less issuance costs on the dates of issuance. Convertible preferred stock was previously classified outside of stockholders’ equity (deficit) on the balance sheets as events triggering redemption were not solely within the Company’s control because the preferred stockholders had the ability to effect a liquidation event, as they have majority of the Company’s Board seats. Immediately prior to the closing of the Company’s IPO in July 2020, all outstanding shares of the Company’s convertible preferred stock converted into the Company’s common stock. There were no outstanding shares of the Company’s convertible preferred stock as of December 31, 2021. Research and Development Costs Research and development costs are expensed as incurred. Research and development costs consist primarily of salaries and other benefits of research and development personnel, including associated share-based compensation, costs related to research activities, preclinical studies, clinical trial, drug manufacturing and allocated overhead and facility-related expenses. The Company accounts for non-refundable advance payments for goods or services that will be used in future research and development activities as expenses when the goods have been received or when the service has been performed rather than when the payment is made. Clinical trial costs are a component of research and development expenses. The Company expenses costs for its clinical trial activities performed by third parties, including clinical research organizations and other service providers, as they are incurred, based upon estimates of the work completed over the life of the individual study in accordance with associated agreements. The Company uses information it receives from internal personnel and outside service providers to estimate the clinical trial costs incurred. Commitments The Company recognizes a liability with regard to loss contingencies when it believes it is probable a liability has occurred and the amount can be reasonably estimated. If some amount within a range of loss appears at the time to be a better estimate than any other amount within the range, the Company accrues that amount. When no amount within the range is a better estimate than any other amount the Company accrues the minimum amount in the range. There has been no such liabilities recorded by the Company as of December 31, 2021. Leases At the commencement date of a lease, the Company recognizes lease liabilities which represent its obligation to make lease payments, and right-of-use assets (“ROU assets”) which represent its right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term. As the Company’s leases typically do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the lease commencement date. The ROU asset is measured at cost, which includes the initial measurement of the lease liability and initial direct costs incurred by the Company and excludes lease incentives. ROU assets are recorded in operating lease ROU assets and lease liabilities are recorded in operating lease liabilities, current and noncurrent in the balance sheets. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Lease agreements that contain both lease and non-lease components are generally accounted for separately. The Company does not recognize lease liabilities and ROU assets for short-term leases with terms of twelve months or less. Share-Based Compensation Share-based compensation expense represents the cost of the grant-date fair value of employee, officer, director, and non-employee stock option grants, estimated in accordance with the applicable accounting guidance, recognized using the straight-line method over the vesting period for service-based options and using the graded vesting method for performance-based options. The vesting period generally approximates the expected service period of the awards. Forfeitures are recognized and accounted for as they occur. The fair value of stock options is estimated using a Black-Scholes option pricing model on the date of grant. This method requires certain assumptions be used as inputs, such as the fair value of the underlying common stock, expected term of the option before exercise, expected volatility of the Company’s common stock, expected dividend yield, and a risk-free interest rate. Options granted during the year have a maximum contractual term of ten years . The Company has limited historical stock option activity and therefore estimates the expected term of stock options granted using the simplified method, which represents the average of the contractual term of the stock option and its weighted-average vesting period. The expected volatility of stock options is based upon the historical volatility of a number of publicly traded companies in similar stages of clinical development. The Company has historically not declared or paid any dividends and does not currently expect to do so in the foreseeable future. The risk-free interest rates used are based on the U.S. Department of Treasury (“U.S. Treasury”) yield in effect at the time of grant for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the stock options. Income Taxes Income taxes have been accounted for using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if, based upon the weight of all available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Segment Reporting The Company’s chief operating decision maker, its President and Chief Executive Officer, manages its operations and business as one operating segment for the purposes of allocating resources, makes operating decisions and evaluates financial performance. No product revenue has been generated since inception and all assets are held in the United States. Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration of potential dilutive securities. Diluted net loss per share is computed by dividing the net loss by the sum of the weighted average number of common shares plus the potential dilutive effects of potential dilutive securities outstanding during the period. Potential dilutive securities are excluded from diluted earnings or loss per share if the effect of such inclusion is antidilutive. The Company’s potentially dilutive securities, which include convertible preferred stock prior to the conversion of such shares to common stock, unvested common stock, and outstanding stock options under the Company’s equity incentive plan, have been excluded from the computation of diluted net loss per share as they would be anti-dilutive to the net loss per share. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position. Recent Accounting Pronouncements Adopted Accounting Pronouncements Income Taxes. In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12—Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Topic 740 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. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates. This standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted this standard in the first quarter of 2021 using the prospective method, and the adoption did not have a material impact on the Company’s financial statements. There were no other significant updates to the recently issued accounting standards other than as disclosed herewith. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	3. Net Loss Per Share The following tables summarize the computation of the basic and diluted net loss per share (in thousands except share and per share data): Year Ended December 31, 2021 2020 Numerator: Net loss $ ( 86,075 ) $ ( 91,361 ) Denominator: Weighted average common shares outstanding 32,901,002 16,918,664 Less: weighted average unvested common stock ( 44,119 ) ( 112,402 ) Weighted average shares used to compute net loss 32,856,883 16,806,262 Net loss per share, basic and diluted $ ( 2.62 ) $ ( 5.44 ) The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive: December 31, 2021 2020 Common stock options 4,204,686 3,640,715 Unvested common stock upon early exercise of common stock options 16,181 77,393 4,220,867 3,718,108

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The following tables summarize the fair value of the Company’s financial instruments (in thousands): Fair Value Measurements Using December 31, Quoted Prices Significant Other Significant Assets: Cash equivalents: Money market funds $ 57,018 $ 57,018 $ — $ — Short-term investments: Corporate debt securities $ 111,466 $ — $ 111,466 $ — Commercial paper 21,272 — 21,272 — U.S. Government securities 44,534 — 44,534 — Total short-term investments $ 177,272 $ — $ 177,272 $ — Total $ 234,290 $ 57,018 $ 177,272 $ — Fair Value Measurements Using December 31, Quoted Prices Significant Other Significant Assets: Cash equivalents: Money market funds $ 94,631 $ 94,631 $ — $ — Short-term investments: Corporate debt securities $ 48,614 $ — $ 48,614 $ — Commercial paper 63,445 — 63,445 U.S. Government securities 106,162 — 106,162 — Total short-term investments $ 218,221 $ — $ 218,221 $ — Total $ 312,852 $ 94,631 $ 218,221 $ — Cash Equivalents and Short-Term Investments Financial assets measured at fair value on a recurring basis consist of the Company’s cash equivalents and short-term investments. Cash equivalents consisted of money market funds and short-term investments consisted of commercial paper, corporate debt securities and U.S. Government securities. The Company obtains pricing information from its investment manager and generally determines the fair value of investment securities using standard observable inputs, including reported trades, broker/dealer quotes, and bids and/or offers. Investments are classified as Level 1 within the fair value hierarchy if their quoted prices are available in active markets for identical securities. Investments in money market funds of $ 57.0 million and $ 94.6 million included in cash equivalents as of December 31, 2021 and 2020, respectively, were classified as Level 1 instruments. Investments in corporate debt securities, commercial paper and U.S. Government securities included in short-term investments are valued using Level 2 inputs. Level 2 securities are initially valued at the transaction price and subsequently valued and reported upon utilizing inputs other than quoted prices that are observable either directly or indirectly, such as quotes from third-party pricing vendors. Fair values determined by Level 2 inputs, which utilize data points that are observable such as quoted prices, interest rates and yield curves, require the exercise of judgment and use of estimates, that if changed, could significantly affect the Company’s financial position and results of operations. The following tables summarize the Company’s short-term investments as of December 31, 2021 and 2020 (in thousands): December 31, 2021 Maturity Amortized Unrealized Unrealized Estimated Corporate debt securities 1 year or less $ 111,548 $ ( 89 ) $ 7 $ 111,466 Commercial paper 1 year or less 21,272 — — 21,272 U.S. Government securities 1 year or less 44,602 ( 68 ) — 44,534 Total $ 177,422 $ ( 157 ) $ 7 $ 177,272 December 31, 2020 Maturity Amortized Unrealized Unrealized Estimated Corporate debt securities 1 year or less $ 48,616 $ ( 6 ) $ 4 $ 48,614 Commercial paper 1 year or less 63,445 — — 63,445 U.S. Government securities 1 year or less 106,157 ( 7 ) 12 106,162 Total $ 218,218 $ ( 13 ) $ 16 $ 218,221 The Company considers whether unrealized losses have resulted from a credit loss or other factors. The unrealized losses on the Company’s available-for-sale securities as of December 31 , 2021 and 2020 were caused by fluctuations in market value and interest rates as a result of the economic environment and not credit risk. The Company concluded that an allowance for credit losses was unnecessary as of December 31 , 2021 and 2020. It is neither management’s intention to sell nor is it more likely than not that the Company will be required to sell these investments prior to recovery of their cost basis or recovery of fair value. Unrealized gains and losses are included in accumulated other comprehensive loss. The Company excludes accrued interest from both the fair value and the amortized cost basis of the available-for-sale debt securities for the purposes of identifying and measuring an impairment and to not measure an allowance for expected credit losses for accrued interest receivables. Accrued interest receivable is written off through net realized investment gains (losses) at the time the issuer of the bond defaults or is expected to default on payment. It is the Company's policy to present the accrued interest receivable balance as part of prepaid expenses and other current assets in the balance sheets. Accrued interest receivable related to short-term investments was $ 1.0 million and $ 1.1 million as of December 31, 2021 and 2020, respectively. Preferred Stock Purchase Right Liability In August 2019, the Company entered into a Series B Preferred Stock Purchase Agreement (see Note 10) that contained future purchase rights that were required to be accounted for as liabilities, remeasured to fair value at each reporting date, and classified as a Level 3 instrument within the fair value hierarchy. Upon the exercise of the preferred stock purchase right on July 1, 2020, the preferred stock purchase right liability was revalued at an estimated fair value of $ 41.6 million and was reclassified to additional paid-in capital in the balance sheets. The estimated fair value of the preferred stock purchase right liability at July 1, 2020 was determined using a valuation model that incorporated the probability of the occurrences of the Series B Milestone Closing in addition to the factors considered at issuance. An intrinsic value model was used to determine the fair value of preferred stock purchase right as of July 1, 2020. The following table provides the change in preferred stock purchase right liability for the year ended December 31, 2020 (in thousands): Preferred Stock Balance, January 1, 2020 $ 1,478 Change in fair value of preferred stock purchase right 40,163 Reclassification of preferred stock purchase right liability ( 41,641 ) Balance, December 31, 2020 $ —

Balance Sheet Components

Balance Sheet Components	12 Months Ended
	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	5. Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are comprised of the following (in thousands): December 31, 2021 2020 Prepaid expenses $ 4,538 $ 2,586 Other current assets 3,154 1,336 Total prepaid expenses and other current assets $ 7,692 $ 3,922 Property and Equipment, Net P roperty and equipment, net is comprised of the following (in thousands): December 31, 2021 2020 Leasehold improvements $ 3,462 $ 1,984 Furniture and fixtures 544 322 Research equipment 9,633 4,892 Computers and software 130 124 Construction-in-progress 2,274 3,459 Total property and equipment 16,043 10,781 Less accumulated depreciation and amortization ( 3,187 ) ( 1,431 ) Total property and equipment, net $ 12,856 $ 9,350 Depreciation and amortization expense were $ 1.8 million and $ 0.8 million for the years ended December 31, 2021 and 2020, respectively. Accrued and Other Current Liabilities Accrued and other current liabilities are comprised of the following (in thousands): December 31, 2021 2020 Accrued compensation $ 5,453 $ 3,534 Accrued research and development costs 2,280 1,675 Accrued property and equipment 96 117 Other accrued and current liabilities 1,518 927 Total accrued and other liabilities $ 9,347 $ 6,253

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	6. Leases The Company has operating leases for its current corporate offices, laboratory space, manufacturing facility, and dedicated space in a vivarium in South San Francisco, California, as well as for an additional facility in South San Francisco that the Company plans to use for corporate offices, laboratories and manufacturing. The components of lease expense were as follows (in thousands): Year Ended December 31, 2021 2020 Operating lease expense $ 2,581 $ 1,856 Variable lease expense (1) 302 178 Short-term lease expense 92 14 Total lease expense $ 2,975 $ 2,048 (1) Variable lease expense for the periods presented primarily included common area maintenance charges. Supplemental information related to operating leases were as follows (in thousands): Year Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used for operating leases $ 2,239 $ 1,705 The weighted-average remaining lease term was 6.7 years for the corporate office and laboratory space leases as of December 31, 2021. The corporate office lease includes an option to renew for an additional seven years . However, the renewal option was not included in the lease term for calculating the lease liability, as the renewal option allow the Company to maintain operational flexibility, and the Company was not reasonably certain that it would exercise the renewal option at the time of the lease commencement. The weighted-average discount rate was 9.2 % as of December 31, 2021. Maturities of operating lease liabilities under existing operating leases as of December 31, 2021 were as follows (in thousands): Year ending December 31, Amount 2022 $ 2,579 2023 2,432 2024 2,184 2025 2,200 2026 2,288 2027 and thereafter 5,035 Total future minimum lease payments 16,718 Less imputed interest ( 4,259 ) Present value of net minimum lease payments $ 12,459 Operating lease liabilities: Current 2,484 Non-current 9,975 Total lease liability $ 12,459 In May 2018, the Company entered into a lease agreement for its corporate office and laboratory space located in South San Francisco, California with an expiration date in May 2025 (the “Initial Lease Agreement”). In April 2019, the Company executed the first amendment to the Initial Lease Agreement for additional corporate space, laboratory space and manufacturing capabilities and an extension to the lease term through April 2026. In May 2020, the Company signed a second amendment to the Initial Lease Agreement. The amended lease provides for an eight-year non-cancelable lease of additional office and laboratory space in the same building. The lease amendment for additional office and laboratory space provided for abatement of rent during the first three months of the lease and contains rent escalations during the term of the lease. The lease for this additional space commenced in January 2021 and expires in January 2029 . The lease amendment also includes an extension of the lease term for the existing office and laboratory space beginning on May 1, 2020 and expiring in January 2029. The amendment to the Initial Lease Agreement also includes an option to extend the lease for an additional seven-year term. In January 2021, the Company signed a third amendment to the Initial Lease Agreement which provides for the lease of additional space in the same building. The lease amendment for this additional space commenced in April 2021 and expires in March 2024 . In October 2021, the Company signed a fourth amendment to the Initial Lease Agreement which provides for the lease of additional space in the same building. The lease for additional office and laboratory space provides for abatement of rent during the first two months of the lease and contains rent escalations during the term of the lease. The lease amendment of this additional space is anticipated to commence in April 2022 and expires in January 2029 . The Company expects to pay base rent of approximately $ 4.6 million over the lease term. The lease amendment also includes this additional space in the Company’s option to extend the amended Initial Lease Agreement for an additional seven-year term. The other terms of the Initial Lease Agreement, as amended, remain unchanged. In July 2021, the Company entered into a lease agreement for corporate office, manufacturing and laboratory space located in South San Francisco, California with an expiration date approximately twelve years after the lease's legal commencement date (the “Additional Lease Agreement”). The Company will become responsible for paying rent on the lease's legal commencement date. The Company’s monthly installment of base rent for the new premises will start at approximately $ 0.6 million commencing on the lease commencement date and will increase on an annual basis up to a maximum monthly base rent of approximately $ 0.8 million. The Company expects to pay base rent of approximately $ 99.6 million over the lease term. In addition to base rent, the Company is responsible for payment of direct expenses, which include operating, insurance and tax expenses. The lease also provides for certain tenant improvement allowances of up to approximately $ 25.2 million for tenant improvements and certain infrastructure upgrades in connection with the initial buildout of the premises, approximately $ 4.4 million of which, if utilized, would need to be repaid by the Company over the lease term. As of December 31, 2021, we recorded a receivable of $ 0.8 million in other current assets related to costs incurred in 2021 that are reimbursable under the agreement. In 2021, the Company delivered a security deposit in the form of a letter of credit o f $ 1.6 mi llion to the Landlord in connection with the Additional Lease Agreement. For accounting purposes, the lease commencement date was determined to be in January 2022, which was the date at which the Company was deemed to have obtained control over the property. We expect to record lease liabilities of approximately $ 49 - $ 62 million based on the present value of the remaining minimum rental payments using discount rates as of the effective date. We also expect to record corresponding right-of-use assets of approximately $ 49 - 62 million. The Company, however, does not expect a material impact to its consolidated statements of operations and consolidated statements of cash flow. In November 2021, the Company entered into an amendment to Additional Lease Agreement. The lease amendment expressly includes manufacturing as a permitted use at the facility, clarifies that Silicon Valley Bank is an acceptable bank for purposes of issuing a letter of credit under the lease, revises the letter of credit transferability terms and replaces the form of letter of credit attached to the lease. Total minimum lease payments of $ 4.6 million and $ 99.6 million related to the lease of additional space under the fourth amendment to the Initial Lease Agreement and the Additional Lease Agreement, respectively, were excluded from the table above as the lease agreement had not yet commenced as of December 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Guarantee Agreement The Company has agreements whereby it indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that limits its exposure and enables the Company to recover a portion of any future amounts under certain circumstances and subject to deductibles and exclusions. The Company had no liabilities recorded for these agreements as of December 31, 2021 and 2020. Letters of Credit The Company has $ 2.1 million in letter of credit agreements with a financial institution that are used as collateral for the Company’s corporate headquarters’ operating lease and the additional facility in South San Francisco that the Company plans to use for corporate offices, laboratories and manufacturing. The letters of credit automatically renew annually without amendment unless cancelled by the financial institutions within 30 to 60 days of the annual expiration date.

Collaboration and License Agree

Collaboration and License Agreements	12 Months Ended
	Dec. 31, 2021
Collaboration Agreement [Abstract]
Collaboration and License Agreements	8. Collaboration and License Agreements CRISPR Collaboration Agreement On May 5, 2021, the Company entered into the CRISPR Agreement with CRISPR to co-develop and co-commercialize an engineered CAR-NK product candidate targeting the CD70 tumor antigen and a NK+T product candidate. In addition, the Company will receive a license from CRISPR for up to five CRISPR-Cas9 gene editing targets that can be engineered into an unlimited number of its own NK cell products. CRISPR also has an option to co-develop and co-commercialize a future CAR-NK program. Under the terms of the CRISPR Agreement, the Company and CRISPR share equally in all research and development costs and potential profits worldwide related to the CD70 CAR-NK product candidate, NK+T product candidate, and the potential future CAR-NK program (collectively, “Collaboration Products”). For the NK+T program, CRISPR is responsible for gene-editing activities and T cell related activities, and Nkarta is responsible for NK cell related activities. The related impact of the cost sharing associated with the research and development activities is included in research and development expense on the condensed statements of operations. Expenses related to services performed by the Company are classified as research and development expense. Payments received from CRISPR for partial reimbursement of expenses are recorded as a reduction of research and development expense. As of December 31, 2021, the Company had a $ 1.1 million receivable under the research cost sharing provision, which is included as part of prepaid expenses and other current assets in the condensed balance sheet. For each non-collaboration product candidate incorporating a gene editing target licensed from CRISPR, the Company would retain worldwide rights and may be required to make potential future payments based on the achievement of development and regulatory approval milestones totaling less than mid-twenty million dollars for each non-collaboration product, as well as tiered royalties up to the mid-single digits on net product sales of such product. As of December 31, 2021, the Company has no t paid any amounts no r are any amounts owed by the Company under the CRISPR Agreement, and no milestones have been achieved. MaxCyte License Agreement On October 26, 2021, the Company entered into a license agreement (the “MaxCyte Agreement”) with MaxCyte, Inc. ("MaxCyte") to obtain non-exclusive clinical and commercial rights to use MaxCyte's cell loading technology to develop and commercialize in up to ten licensed products. In connection with the MaxCyte Agreement, the Company must pay to MaxCyte annual research license fees and commercialization license fees, ranging from $ 0.1 million to $ 0.3 million, for each instrument licensed by the Company. Further, the Company could be required to make milestone payments to MaxCyte upon completion of certain regulatory and commercial milestones related to the clinical development and commercialization of certain of the Company’s licensed products. The aggregate potential milestone payments range from $ 10 million to $ 13 million per licensed product. Additionally, the Company may be required to make net sales milestone payments totaling between $ 61.9 million to $ 116.8 million per licensed product. As of December 31, 2021, the Company has not paid any amounts nor are any amounts owed by the Company under the MaxCyte Agreement, and no milestones have been achieved. University of Singapore and St. Jude Children’s License Agreement In August 2016, the National University of Singapore (“NUS”) and St. Jude Children’s Research Hospital (“St. Jude”) and the Company entered into a license agreement under which NUS and St. Jude (the “Licensors”) granted the Company an exclusive, royalty-bearing, worldwide license to its patent rights related to a method for expanding natural killer cells; a chimeric receptor with NKG2D specificity; and a method for supporting autonomous natural killer cell function (“NUS and St. Jude License Agreement”). The NUS and St. Jude License Agreement provides the Company with the rights to grant and authorize sublicenses to make, have made, use, sell, offer for sale and import products and otherwise exploit the patent rights. As consideration for the license, the Company made an upfront payment of $ 31,800 and issued NUS 250,000 shares of the Company’s common stock. The Company determined that the upfront payment (SGD 42,750 ) and value of the common stock issued ($ 2,500 based on fair value at time of issuance) as part of the license agreement would be expensed upon execution of the contract as the license was acquired for research and development purposes which does not have alternative future uses, and the underlying technology has not reached technological feasibility, hence the Company expensed these costs during 2016. In addition, the Company is required to pay an annual license maintenance fee of SGD 25,000 , increasing to SGD 50,000 after year two of the agreement. Further, the Company could be required to make milestone payments to the Licensors upon completion of certain regulatory and commercial milestones related to the clinical development and commercialization of certain of the Company’s product candidates. The aggregate potential milestone payments are approximately SGD 5 million. The Company has also agreed to pay the Licensors royalties of 2.5 % of net sales of products sold by the Company or through a sublicense. Additionally, the Company agreed to pay the Licensors a tiered percentage of sublicensing income (ranging from 7.5 % to 20 %) based on the timing of capital raised and stage of clinical trials. The NUS and St. Jude License Agreement also includes certain performance objectives which obligate the Company to meet various milestones related to the clinical development and commercialization of certain of the Company’s product candidates over time for up to 120 months after the effective date of the NUS and St. Jude License Agreement. The Company recorded $ 37,000 license maintenance fees included as part of research and development expenses for each of the years ended December 31, 2021 and 2020. In 2020, the Company also recorded a $ 0.1 million milestone payments upon completion of a regulatory milestone related to the clinical development of the Company’s product candidate, included as part of research and development expenses.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefits	9. Employee Benefits On January 1, 2018, the Company adopted a defined contribution 401(k) plan that is available to eligible employees. Under the terms of the plan, employees may make voluntary contributions as a percent of compensation, limited to the maximum amount allowable under federal tax regulations. As part of the plan, the Company elected to make non-matching contributions via mandatory 3 % of compensation safe harbor nonelective contributions. The Company recognized $ 0.6 million and $ 0.3 million for expense related to the nonelective 401(k) contributions for the years ended December 31, 2021 and 2020, respectively.

Convertible Preferred Stock and

Convertible Preferred Stock and Stockholders’ Equity (Deficit)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Convertible Preferred Stock and Stockholders’ Equity (Deficit)	10. Convertible Preferred Stock and Stockholders’ Equity (Deficit) Under the Amended and Restated Certificate of Incorporation dated August 26, 2019, the Company had a total of 126,270,161 shares of capital stock authorized for issuance, consisting of 71,919,982 shares of common stock, par value of $ 0.0001 per share, and 54,350,179 shares of convertible preferred stock, par value of $ 0.0001 per share. Of the 54,350,179 shares of convertible preferred stock, 6,170,349 were designated Series A convertible preferred stock and 48,179,830 were designated Series B convertible preferred stock. In connection with the Reverse Stock Split on July 1, 2020, the Company filed a certificate of amendment to its certificate of incorporation, which provided 100,000,000 authorized shares of common stock with a par value of $ 0.0001 per share and 54,350,179 authorized shares of preferred stock with a par value of $ 0.0001 per share. Series A Convertible Preferred Stock In December 2017, the Company sold and issued in a private placement 3,866,602 shares of Series A convertible preferred stock at $ 2.07 per share (the “Series A Financing”). Upon the closing of the Series A Financing, the convertible notes outstanding at that date were converted into 2,011,114 shares of Series A convertible preferred stock at 80 % of the $ 2.07 price per share (the “Series A Original Issue Price”) paid by the Series A Financing investors. The GSK Convertible Note converted into 292,633 shares of Series A convertible preferred stock at 85 % of the Series A Original Issue Price. In connection with the convertible notes, the Company recorded a beneficial conversion feature of $ 0.9 million which was recognized as a debt discount and accreted to interest expense over the term of the note using the effective interest method. Series B Convertible Promissory Notes In May 2019, the Company entered into Series B Convertible Promissory Notes (the “Convertible Notes”) whereby the Company agreed to issue and certain existing Series A investors (the “Noteholders”) agreed to purchase $ 6,000,000 in Convertible Notes. The Convertible Notes accrued interest at a contractual rate of 7.5 % per year and had an original maturity date of one year from their issuance date. The Convertible Notes were to automatically convert into Series B convertible preferred stock at 85 % or 80 % of the price per share paid by other investors upon certain qualified financing events, with the percent discount based on the timing of the financing, or through a voluntary option to convert upon certain non-qualified financing events. In addition, if the maturity date were to occur prior to the conversion or repayment of the Convertible Notes, the Noteholders had the right to convert the outstanding principal amount of the Convertible Notes, and all accrued and unpaid interest, into Series A convertible preferred stock at the Series A original issuance price. As the Convertible Notes contained various settlement outcomes, the Company evaluated each scenario for accounting purposes. The settlement into Series A convertible preferred stock scenario resulted in the Company recording a beneficial conversion feature of $ 0.3 million upon the issuance of the Convertible Notes, as the fair value of the Series A convertible preferred stock on the date of issuance was greater than the original Series A issuance price. The conversion discounts were considered to be redemption features and were evaluated as an embedded derivative and bifurcated from the Convertible Notes, due to the substantial premium to be paid upon redemption. Upon bifurcating the redemption features, the Company recorded a derivative instrument of $ 1.3 million. The derivative instrument and beneficial conversion feature were recorded as a debt discount at inception and were being amortized to interest expense using the effective interest method over the one-year term of the debt. In August 2019, in connection with the Series B convertible preferred stock financing, the Convertible Notes terms were modified so that the Noteholders received a conversion benefit equal to an annual effective interest rate of 7.5 % on the outstanding principal on the Convertible Notes, rather than the originally stated 85 % price. The change in the conversion benefit resulted in an adjustment to the derivative instrument of $ 0.9 million. In addition, as the Convertible Notes contained an embedded beneficial conversion feature and were extinguished before conversion, the Company allocated a portion of the settlement to the repurchase of the beneficial conversion feature, using the intrinsic value on the extinguishment date. This resulted in a reduction to the previously recorded beneficial conversion feature of $ 0.1 million. Additionally, the Company recorded a loss on extinguishment of debt of $ 0.8 million, representing the write-off on the unamortized debt issuance costs on the date the Convertible Notes converted into Series B convertible preferred stock. Series B Convertible Preferred Stock On August 27, 2019, the Company entered into a Series B Preferred Stock Purchase Agreement (the “Stock Purchase Agreement”). The Stock Purchase Agreement contained provisions that obligated the Company to sell, outside of its control, an additional 27,066,206 shares of Series B convertible preferred stock at the Series B Original Issue Price per share, for expected gross proceeds of $ 64.4 million, upon the achievement of a milestone, or by election of the holders of at least one-third of the Company’s Series B convertible preferred stock at any time prior to the completion of the Company’s initial public offering if the milestone was not achieved (the “Series B Milestone Closing”). If the shares were not purchased prior to the completion of the Company’s initial public offering, then the right to purchase these shares would have automatically expired. In the event that an Initial Series B Closing purchaser, or its affiliates or transferees, failed to purchase their required shares in the Series B Milestone Closing, then all the Series B convertible preferred stock held by such initial Series B purchaser would have been automatically converted into one share of common stock for each ten shares of Series B convertible preferred stock. On July 1, 2020, the Company completed the Series B Milestone Closing pursuant to a milestone waiver by the holders of the Series B convertible preferred stock and issued 27,066,206 shares of Series B convertible preferred stock for gross proceeds of $ 64.4 million. On July 14, 2020, upon the closing of the Company’s IPO, all outstanding shares of the Company’s convertible preferred stock converted into 14,689,215 shares of the Company’s common stock. There were no outstanding shares of the Company’s convertible preferred stock as of December 31, 2021 and 2020. The Company determined its obligation to issue additional shares of the Company’s Series B convertible preferred stock in the Series B Milestone Closing represented a freestanding financial instrument that required liability accounting. This freestanding preferred stock purchase right liability was initially recorded at fair value, with fair value changes recognized in the statements of operations and comprehensive loss. At the time the Stock Purchase Agreement was entered into in August 2019, the initial estimated fair value of the preferred stock purchase right liability was $ 2.8 million, and was revalued at $ 1.5 million as of December 31, 2019. On July 1, 2020, the preferred stock purchase right liability was revalued at an estimated fair value of $ 41.6 million and was reclassified to additional paid-in capital upon the exercise of the preferred stock purchase right. The Company recorded the change in the fair value of the Series B convertible preferred stock purchase right liability of $ 40.2 million as other expense for the year ended December 31, 2020, in the statement of operations and comprehensive loss. Common Stock In conjunction with the Company’s July 2020 IPO closing, the Company issued and sold 16,100,000 shares of its common stock, including 2,100,000 shares pursuant to the full exercise of the underwriters' option to purchase additional shares, at a public offering price of $ 18.00 per share, for aggregate net proceeds of $ 265.1 million after deducting underwriting discounts and commissions and other offering costs. In connection with this offering, all outstanding shares of the Company’s convertible preferred stock converted into 14,689,215 shares of common stock.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	11. Share-Based Compensation Equity Incentive Plan 2015 Equity Incentive Plan The Company granted options under its 2015 Equity Incentive Plan (the “2015 Plan”) until July 2020 when it was terminated as to future awards, although it continues to govern the terms of options that remain outstanding under the 2015 Plan. The 2015 Plan allows for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock unit awards and other stock awards. Awards can be made to officers, directors, employees, non-employee directors, and consultants of the Company. In connection with the Board of Directors’ and stockholders’ approval of the 2020 Plan, the 2015 Plan was terminated as to future awards and any options or awards outstanding under the 2015 Plan remain outstanding and effective. As of December 31, 2021, there were an aggregate of 1,798,614 shares of common stock issuable upon the exercise of outstanding options under the 2015 Plan. 2020 Performance Incentive Plan The Company’s 2020 Performance Incentive Plan (the “2020 Plan”) which was adopted by the Company’s board of directors in June 2020 and approved by the Company’s stockholders in July 2020, became effective upon the consummation of the IPO in July 2020. Upon the effectiveness of the 2020 Plan, no further grants may be made under the Company’s 2015 Plan. The Company’s 2020 Plan allows for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, stock bonuses, restricted stock, stock units and other forms of awards including cash awards to its officers, directors, employees, consultants and advisors. As of December 31, 2021, a total of 4,295,638 shares of the Company’s common stock were authorized for issuance with respect to awards granted under the 2020 Plan. The share limit will automatically increase on the first trading day in January of each year (commencing in 2021) by an amount equal to the lesser of (1) 5 % of the total number of outstanding shares of the Company’s common stock on the last trading day in December in the prior year, or (2) such lesser number as determined by the Company’s board of directors. Any shares subject to awards granted under the 2020 Plan or the 2015 Plan that are not paid, delivered or exercised before they expire or are canceled or terminated, or otherwise fail to vest, as well as shares used to pay the purchase or exercise price of such awards or related tax withholding obligations, will become available for new award grants under the 2020 Plan. A total of 2,179,766 shares was available for issuance under the 2020 Plan for the year ended December 31 , 2021. The following table summarizes the stock option activity during the year ended December 31, 2021 (in thousands, except number of shares, exercise prices and contractual term) : Number of shares Weighted-average Weighted-average Aggregate Outstanding at December 31, 2020 3,640,715 $ 11.00 9.0 $ 183,742 Granted 1,005,372 45.55 Exercised ( 281,932 ) 5.25 Forfeited ( 159,469 ) 23.09 Outstanding at December 31, 2021 4,204,686 $ 19.19 8.2 $ 22,022 Exercisable at December 31, 2021 1,516,556 $ 14.53 7.7 $ 10,009 Vested and expected to vest at 4,204,686 $ 19.19 8.2 $ 22,022 The aggregate intrinsic value represents the difference between the exercise price of stock options and the quoted market price of the Company’s common stock for all in-the-money stock options. Additional information related to the Company’s stock options is summarized below (in thousands, except per share amounts): Year Ended December 31, 2021 2020 Weighted-average grant-date fair value of stock option grants per share $ 30.87 $ 12.84 Intrinsic value of options exercised $ 9,991 $ 1,444 Fair value of options vested $ 13,638 $ 2,664 Employee Stock Purchase Plan The Company’s 2020 Employee Stock Purchase Plan (the “ESPP”), which was adopted by the Company’s board of directors in June 2020 and approved by the Company’s stockholders in July 2020, became effective upon the consummation of the IPO. A total of 622,652 shares of the Company’s common stock is available for issuance under the ESPP. The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15 % of their eligible compensation, subject to any plan limitations. The ESPP provides for six-month offering periods, and at the end of each offering period, employees are able to purchase shares at 85 % of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the last trading day of the offering period. As of December 31 , 2021, no shares had been issued under the ESPP, and the full number of shares authorized under the ESPP Plan was available for issuance purposes. Liability for Early Exercise of Restricted Stock Options Certain individuals were granted the ability to early exercise their stock options. The shares of common stock issued from the early exercise of unvested stock options are restricted and continue to vest in accordance with the original vesting schedule. The Company has the option to repurchase any unvested shares at the original purchase price upon any voluntary or involuntary termination. The shares purchased by the employees and non-employees pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be outstanding until those shares vest. The cash received in exchange for exercised and unvested shares related to stock options granted is recorded as a liability for the early exercise of stock options on the accompanying balance sheets and will be transferred into common stock and additional paid-in capital as the shares vest. Shares subject to repurchase by the Company were 16,181 shares and 77,393 shares, with the related liability of $ 18 thousand and $ 0.1 million as of December 31, 2021 and 2020, respectively, recorded under other long-term liabilities in the balance sheets. Common Stock Reserved for Future Issuance As of December 31, 2021, the Company had reserved the following shares of common stock for future issuance: December 31, Common stock options granted and outstanding 4,204,686 Reserved for future equity award grants 2,179,766 Reserved for future ESPP issuances 622,652 7,007,104 Share-Based Compensation Expense Share-based compensation expense for the years ended December 31, 2021 and 2020 were as follows (in thousands): Year Ended December 31, 2021 2020 Research and development $ 6,719 $ 1,871 General and administrative 7,742 4,877 Total share-based compensation expense $ 14,461 $ 6,748 The total unrecognized compensation cost related to share-based awards was $ 36.4 million, which is expected to be recognized over a weighted-average remaining service period of 2.2 years as of December 31, 2021. In October 2020, the Company recorded share-based compensation expense of $ 2.3 million related to the modification of certain stock option granted to its former Chief Financial Officer, Matthew Plunkett, under a Separation and Release Agreement that was executed on October 2, 2020 (the “Termination Date”). In addition, the Company recorded severance benefits expense of $ 0.3 million in October 2020 that was paid within the 6 months after the Termination Date. Fair Value Disclosures The fair value of stock options was estimated on the date of grant using the Black-Scholes option pricing model with the following range of assumptions: Year Ended December 31, 2021 2020 Common stock fair value $ 15.35 - $ 54.89 $ 4.29 - $ 61.47 Risk-free interest rate 0.6 % - 1.4 % 0.4 % - 0.5 % Expected volatility 77.3 % - 79.9 % 74.8 % - 81.4 % Expected term (in years) 5.5 - 6.1 5.5 - 6.1 Expected dividend yield — — The Company recognizes compensation costs related to stock options granted to employees and nonemployees based on the estimated fair value of the awards on the date of grant, net of forfeitures. The Company generally recognizes grant-date fair value of stock options granted to employees and non-employee service providers on a straight-line basis over the requisite service period, which is generally the vesting term of the respective awards. The Company determines the fair value of stock options with a service and performance condition, or performance-based options, based on the fair value of the Company’s common stock on the date of grant. The Company accounts for the impact of forfeitures as they occur. For purposes of calculating share-based compensation, the Company estimates the fair value of stock options issued using a Black-Scholes option-pricing model. The determination of the fair value of share-based payment awards utilizing the Black-Scholes option-pricing model is affected by the Company’s stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. Expected term. The Company opted to use the “simplified method” for estimating the expected term of employee options, whereby the expected term equals the average of the vesting term and the original contractual term of the option (generally 10 years). Expected volatility. Due to the Company’s limited operating history and a lack of company specific historical and implied volatility data, the Company based its estimate of expected volatility on the historical volatilities of the common stock of comparable publicly traded biopharmaceutical companies over a period equal to the expected term of the stock option grants. The comparable companies were chosen based on their similar size, stage in the life cycle, and financial leverage to the Company. Risk-free interest rate. The risk-free rate assumption is based on the U.S. Treasury instruments with maturities similar to the expected term of the stock options. Expected dividend yield. The Company has no t issued any dividends and do no t expect to issue dividends over the life of the options, as a result the estimated dividend yield is zero .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes Due to the Company’s net losses for the years ended December 31, 2021 and 2020, and since the Company has a full valuation allowance against deferred tax assets, there was no tax provision or benefit for income taxes recorded in the years presented other than minimum amounts required for state tax purposes. A reconciliation on income taxes to the amount computed by applying the statutory federal income tax rate to the net loss is summarized as follows (in thousands): Year Ended December 31, 2021 2020 Income tax benefit at statutory rates $ ( 18,076 ) $ ( 19,186 ) State income tax, net of federal benefit ( 1,005 ) ( 3,929 ) Permanent items 592 749 Research and development credits ( 1,661 ) ( 1,264 ) Other ( 515 ) 231 Change in valuation allowance 20,665 14,965 Change in fair value of derivative liabilities 8,434 Income tax expense $ — $ — Significant components of the Company’s deferred tax assets are shown below (in thousands): December 31, 2021 2020 Deferred tax assets: Net operating loss carry forwards $ 33,767 $ 17,674 Depreciation and amortization 268 265 Research and development credits 6,984 3,986 Share-based compensation 2,245 876 Accrued expenses 1,189 983 Lease liability 2,616 2,496 Other, net 34 15 Total deferred tax assets 47,103 26,295 Valuation allowance for deferred tax assets ( 44,361 ) ( 23,696 ) Deferred tax assets, net of valuation allowance 2,742 2,599 Deferred tax liabilities: Right-of-use asset ( 2,471 ) ( 2,382 ) Depreciation and amortization ( 271 ) ( 217 ) Net deferred tax assets $ — $ — The Company has a net operating loss and has provided a valuation allowance against net deferred tax assets due to uncertainties regarding the Company’s ability to realize these assets. The valuation allowance increased by $ 20.7 million and $ 15.0 million as of December 31, 2021 and 2020, respectively. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences representing net future deductible amounts become deductible. Due to the Company’s history of losses, and lack of other positive evidence, the Company has determined that it is more likely than not that its net deferred tax assets will not be realized, and therefore, the net deferred tax assets are substantially offset by a valuation allowance at December 31, 2021 and 2020. The $ 2.7 million net deferred tax asset is realizable as a result of utilizing the deferred tax liabilities associated with the Company’s leases as a source of income. The deferred tax assets were primarily comprised of federal and state tax net operating losses and tax credit carryforwards. As of December 31, 2021, the Company had net operating loss (“NOL”) carryforwards of approximately $ 139.0 million and $ 65.4 million, available to reduce future taxable income, if any, for federal and California state income tax purposes, respectively. Of the $ 139.0 million federal NOL carryforwards, $ 0.2 million and $ 3.0 will begin expiring in 2035 and 2036 , respectively, if not utilized, while $ 135.8 million can be carried forward indefinitely. The state NOL carryforwards will begin expiring in 2036 , if not utilized. The Company also had federal and state research and development credit carry forwards of approximately $ 5.4 million and $ 3.6 million, respectively, at December 31, 2021. The federal credits will begin expiring in 2035 if not utilized. The California credits have no expiration date. Utilization of the NOL and research and development credit carryforwards may be subject to a substantial annual limitation due to ownership change limitations that may have occurred or that could occur in the future, as required by Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), as well as similar state provisions. The future utilization of the Company’s NOL and tax credit carryforwards to offset future taxable income may be subject to a substantial annual limitation as a result of changes in ownership by stockholders that hold 5 % or more of the Company’s common stock. An assessment of such ownership changes under Section 382 was not completed through December 31, 2019. To the extent that an assessment is completed in the future, the Company’s ability to utilize tax attributes could be restricted on a year-by-year basis and certain attributes could expire before they are utilized. The Company will examine the impact of any potential ownership changes in the future. The Company has not been audited by the Internal Revenue Service or any state income or franchise tax agency. As of December 31, 2021, its federal and state returns for the years ended 2015 through the current period are still open to examination. In addition, all of the net operating losses and research and development credit carryforwards that may be used in future years are still subject to inquiry given that the statute of limitation for these items would begin in the year of the utilization. The balance of gross unrecognized tax benefits as of December 31, 2021 and 2020 was approximately $ 1.4 million and $ 0.8 million, respectively, all of which would affect the Company’s income tax expense if recognized, before consideration of the Company’s valuation allowance. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. There was no interest and penalties for the years ended December 31, 2021 and 2020. The Company files income tax returns in the United States federal jurisdiction and the State of California and is not currently under examination by any taxing authority for any open tax year. Due to net operating loss carryforwards, all years remain open for income tax examination. To the extent the Company has tax attribute carryforwards, the tax years in which the attribute was generated may still be adjusted upon examination by the IRS or state tax authorities to the extent utilized in a future period. No federal or state tax audits are currently in process. The following table summarizes the changes in the Company’s gross unrecognized tax benefits (in thousands): December 31, 2021 2020 Balance at the beginning of the year $ 777 $ 270 Increases (decreases) related to tax positions taken in prior years ( 281 ) 14 Increases related to tax positions taken in current year 863 493 Balance at the end of the year $ 1,359 $ 777

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principle (“U.S. GAAP”).
Reverse Stock Split	Reverse Stock Split On July 1, 2020, the Company effected a 1-for- 3.7 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock. Accordingly, the conversion ratio for the Company’s outstanding convertible preferred stock was proportionately adjusted such that the common stock issuable upon conversion of such preferred stock was decreased in proportion to the Reverse Stock Split. The par value of the common stock was not adjusted as a result of the Reverse Stock Split. All references to common stock, options to purchase common stock, early exercised options, share data, per share data, convertible preferred stock (to the extent presented on an as-converted to common stock basis) and related information contained in these financial statements have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented.
COVID-19 Pandemic	COVID-19 Pandemic The COVID-19 pandemic has caused disruptions in the global economy and has affected and may continue to affect the Company’s business and operations. The extent of the impact of the COVID-19 pandemic on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, the development and spread of more contagious and/or vaccine-resistant variants, the effectiveness of actions taken in the United States and other countries to contain, vaccinate against, and treat the disease, and the pandemic’s impact on the Company’s current and planned preclinical studies and clinical trials, employees and vendors, all of which are uncertain and cannot be predicted. The extent to which the COVID-19 pandemic may impact the Company’s financial condition or results of operations is uncertain. In response to the pandemic, CARES Act was signed into law on March 27, 2020. The CARES Act, among other things, includes tax provisions relating to refundable payroll tax credits, deferment of employer’s social security payments, net operating loss utilization and carryback periods, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act had no impact on the Company’s income tax provision for the year ended December 31, 2021. The Company continues to evaluate the impact of the CARES Act on its financial position, results of operations and cash flows. The Company currently does not expect to apply for loans or grants under the CARES Act.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to preclinical studies, fair value of assets and liabilities, share-based compensation and income taxes. Management bases its estimates on historical experience, knowledge of current events and actions it may undertake in the future that management believes to be reasonable under the circumstances. Actual results may differ from these estimates and assumptions.
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 and short-term investments. The Company maintains cash, cash equivalents and short-term investments with various high credit quality and are invested through banks and other financial institutions in the United States. Such deposits may be 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. The Company has not experienced any losses on deposits since inception.
Comprehensive Loss	Comprehensive Loss Comprehensive loss consists of net loss and unrealized gains or losses on available-for-sale investments. The Company displays comprehensive loss and its components as part of the statements of operations and comprehensive loss.
Fair Value of Financial Instruments	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: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts of prepaid expenses and other current assets, accounts payable, accrued liabilities and other current liabilities are reasonable estimates of their fair value due to the short-term nature of these accounts.
Cash, Cash Equivalents, Short-term Investments and Restricted Cash	Cash, Cash Equivalents, Short-term Investments and Restricted Cash Cash and Cash Equivalents The Company considers all highly liquid investments with insignificant interest rate risk and an original maturity of three months or less at the date of purchase to be cash equivalents. Cash includes demand deposits held in readily available checking accounts at a federally insured financial institution. Cash equivalents consist of money market funds. Short-term Investments Short-term investments consist of commercial debt securities, commercial paper and U.S. Government securities, classified as available-for-sale securities and have maturities of greater than three months but less than one year. The Company has classified all of its available-for-sale investment securities as current assets on the balance sheets because these are considered highly liquid securities and are available for use in current operations. The Company carries these securities at fair value, and reports unrealized gains and losses as a separate component of accumulated other comprehensive loss. The cost of debt securities is adjusted for amortization of purchase premiums and accretion of discounts to maturity. Such amortization and accretion is included in interest income in the statements of operations and comprehensive loss. Realized gains and losses on sales of securities are determined using the specific identification method and recorded in other income (expense), net in the statement of operations and comprehensive loss. Restricted Cash The Company is required to maintain letters of credit related to its office and lab space lease and the additional facility in South San Francisco that the Company plans to use for corporate offices, laboratories and manufacturing. This cash is the collateral for those letters of credit and per the terms of the leases must remain in place until one to two months after the termination of the leases. As the remaining terms of the leases as of December 31, 2021 is greater than one year, the related restricted cash has been classified as non-current.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, which consist of leasehold improvements, furniture and fixtures, research equipment, computers and software and construction-in-progress are stated at cost less accumulated depreciation. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the assets, which ranges from three to five years . Leasehold improvements are amortized over the remaining life of the lease for leasehold improvements at the time the asset is placed into service.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The carrying value of long-lived assets, including property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the asset may not be recoverable. An impairment loss is recognized when the total of estimated future undiscounted cash flows, expected to result from the use of the asset and its eventual disposition, are less than its carrying amount. Impairment, if any, would be assessed using discounted cash flows or other appropriate measures of fair value. Through December 31, 2021, there has been no such impairment losses recorded by the Company.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs that consisted of legal, accounting, printing and other fees and costs directly attributable to the IPO were capitalized. Upon the completion of the IPO in July 2020, the total deferred offering costs of $ 4.4 million were offset against the proceeds from the IPO and reclassified to additional paid-in capital on the balance sheet.
Preferred Stock Purchase Right Liability	Preferred Stock Purchase Right Liability The Company at times enters into convertible preferred stock financings where, in addition to the initial closing, investors agree to buy, and the Company agrees to sell, additional shares of that convertible preferred stock at a fixed price in the event that certain agreed upon milestones are achieved or at the election of investors. The Company evaluates this purchase right and assesses whether it meets the definition of a freestanding instrument and, if so, determines the fair value of the purchase right liability and records it on the balance sheets with the remainder of the proceeds raised being allocated to convertible preferred stock. The preferred stock purchase right liability is 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 in the statements of operations and comprehensive loss. A final revaluation adjustment of preferred stock purchase right liability was recorded at settlement in July 2020 and the resultant fair value was then reclassified to convertible preferred stock at that time.
Convertible Preferred Stock	Convertible Preferred Stock The Company recorded all shares of convertible preferred stock at their respective issuance price less issuance costs on the dates of issuance. Convertible preferred stock was previously classified outside of stockholders’ equity (deficit) on the balance sheets as events triggering redemption were not solely within the Company’s control because the preferred stockholders had the ability to effect a liquidation event, as they have majority of the Company’s Board seats. Immediately prior to the closing of the Company’s IPO in July 2020, all outstanding shares of the Company’s convertible preferred stock converted into the Company’s common stock. There were no outstanding shares of the Company’s convertible preferred stock as of December 31, 2021.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred. Research and development costs consist primarily of salaries and other benefits of research and development personnel, including associated share-based compensation, costs related to research activities, preclinical studies, clinical trial, drug manufacturing and allocated overhead and facility-related expenses. The Company accounts for non-refundable advance payments for goods or services that will be used in future research and development activities as expenses when the goods have been received or when the service has been performed rather than when the payment is made. Clinical trial costs are a component of research and development expenses. The Company expenses costs for its clinical trial activities performed by third parties, including clinical research organizations and other service providers, as they are incurred, based upon estimates of the work completed over the life of the individual study in accordance with associated agreements. The Company uses information it receives from internal personnel and outside service providers to estimate the clinical trial costs incurred.
Commitments	Commitments The Company recognizes a liability with regard to loss contingencies when it believes it is probable a liability has occurred and the amount can be reasonably estimated. If some amount within a range of loss appears at the time to be a better estimate than any other amount within the range, the Company accrues that amount. When no amount within the range is a better estimate than any other amount the Company accrues the minimum amount in the range. There has been no such liabilities recorded by the Company as of December 31, 2021.
Leases	Leases At the commencement date of a lease, the Company recognizes lease liabilities which represent its obligation to make lease payments, and right-of-use assets (“ROU assets”) which represent its right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term. As the Company’s leases typically do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the lease commencement date. The ROU asset is measured at cost, which includes the initial measurement of the lease liability and initial direct costs incurred by the Company and excludes lease incentives. ROU assets are recorded in operating lease ROU assets and lease liabilities are recorded in operating lease liabilities, current and noncurrent in the balance sheets. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Lease agreements that contain both lease and non-lease components are generally accounted for separately. The Company does not recognize lease liabilities and ROU assets for short-term leases with terms of twelve months or less.
Share-Based Compensation	Share-Based Compensation Share-based compensation expense represents the cost of the grant-date fair value of employee, officer, director, and non-employee stock option grants, estimated in accordance with the applicable accounting guidance, recognized using the straight-line method over the vesting period for service-based options and using the graded vesting method for performance-based options. The vesting period generally approximates the expected service period of the awards. Forfeitures are recognized and accounted for as they occur. The fair value of stock options is estimated using a Black-Scholes option pricing model on the date of grant. This method requires certain assumptions be used as inputs, such as the fair value of the underlying common stock, expected term of the option before exercise, expected volatility of the Company’s common stock, expected dividend yield, and a risk-free interest rate. Options granted during the year have a maximum contractual term of ten years . The Company has limited historical stock option activity and therefore estimates the expected term of stock options granted using the simplified method, which represents the average of the contractual term of the stock option and its weighted-average vesting period. The expected volatility of stock options is based upon the historical volatility of a number of publicly traded companies in similar stages of clinical development. The Company has historically not declared or paid any dividends and does not currently expect to do so in the foreseeable future. The risk-free interest rates used are based on the U.S. Department of Treasury (“U.S. Treasury”) yield in effect at the time of grant for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the stock options.
Income Taxes	Income Taxes Income taxes have been accounted for using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if, based upon the weight of all available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.
Segment Reporting	Segment Reporting The Company’s chief operating decision maker, its President and Chief Executive Officer, manages its operations and business as one operating segment for the purposes of allocating resources, makes operating decisions and evaluates financial performance. No product revenue has been generated since inception and all assets are held in the United States.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration of potential dilutive securities. Diluted net loss per share is computed by dividing the net loss by the sum of the weighted average number of common shares plus the potential dilutive effects of potential dilutive securities outstanding during the period. Potential dilutive securities are excluded from diluted earnings or loss per share if the effect of such inclusion is antidilutive. The Company’s potentially dilutive securities, which include convertible preferred stock prior to the conversion of such shares to common stock, unvested common stock, and outstanding stock options under the Company’s equity incentive plan, have been excluded from the computation of diluted net loss per share as they would be anti-dilutive to the net loss per share. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Accounting Pronouncements Income Taxes. In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12—Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Topic 740 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. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates. This standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted this standard in the first quarter of 2021 using the prospective method, and the adoption did not have a material impact on the Company’s financial statements. There were no other significant updates to the recently issued accounting standards other than as disclosed herewith. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Share	The following tables summarize the computation of the basic and diluted net loss per share (in thousands except share and per share data): Year Ended December 31, 2021 2020 Numerator: Net loss $ ( 86,075 ) $ ( 91,361 ) Denominator: Weighted average common shares outstanding 32,901,002 16,918,664 Less: weighted average unvested common stock ( 44,119 ) ( 112,402 ) Weighted average shares used to compute net loss 32,856,883 16,806,262 Net loss per share, basic and diluted $ ( 2.62 ) $ ( 5.44 )
Summarizes the Outstanding Potentially Dilutive Securities Excluded in Calculation of Diluted Net Loss Per Share	The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive: December 31, 2021 2020 Common stock options 4,204,686 3,640,715 Unvested common stock upon early exercise of common stock options 16,181 77,393 4,220,867 3,718,108

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Summary of Fair Value of Financial Instrument	The following tables summarize the fair value of the Company’s financial instruments (in thousands): Fair Value Measurements Using December 31, Quoted Prices Significant Other Significant Assets: Cash equivalents: Money market funds $ 57,018 $ 57,018 $ — $ — Short-term investments: Corporate debt securities $ 111,466 $ — $ 111,466 $ — Commercial paper 21,272 — 21,272 — U.S. Government securities 44,534 — 44,534 — Total short-term investments $ 177,272 $ — $ 177,272 $ — Total $ 234,290 $ 57,018 $ 177,272 $ — Fair Value Measurements Using December 31, Quoted Prices Significant Other Significant Assets: Cash equivalents: Money market funds $ 94,631 $ 94,631 $ — $ — Short-term investments: Corporate debt securities $ 48,614 $ — $ 48,614 $ — Commercial paper 63,445 — 63,445 U.S. Government securities 106,162 — 106,162 — Total short-term investments $ 218,221 $ — $ 218,221 $ — Total $ 312,852 $ 94,631 $ 218,221 $ —
Schedule of Change in Preferred Stock Purchase Right Liability	The following table provides the change in preferred stock purchase right liability for the year ended December 31, 2020 (in thousands): Preferred Stock Balance, January 1, 2020 $ 1,478 Change in fair value of preferred stock purchase right 40,163 Reclassification of preferred stock purchase right liability ( 41,641 ) Balance, December 31, 2020 $ —
Short-term investments
Schedule of Short-term Investments	The following tables summarize the Company’s short-term investments as of December 31, 2021 and 2020 (in thousands): December 31, 2021 Maturity Amortized Unrealized Unrealized Estimated Corporate debt securities 1 year or less $ 111,548 $ ( 89 ) $ 7 $ 111,466 Commercial paper 1 year or less 21,272 — — 21,272 U.S. Government securities 1 year or less 44,602 ( 68 ) — 44,534 Total $ 177,422 $ ( 157 ) $ 7 $ 177,272 December 31, 2020 Maturity Amortized Unrealized Unrealized Estimated Corporate debt securities 1 year or less $ 48,616 $ ( 6 ) $ 4 $ 48,614 Commercial paper 1 year or less 63,445 — — 63,445 U.S. Government securities 1 year or less 106,157 ( 7 ) 12 106,162 Total $ 218,218 $ ( 13 ) $ 16 $ 218,221

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets are comprised of the following (in thousands): December 31, 2021 2020 Prepaid expenses $ 4,538 $ 2,586 Other current assets 3,154 1,336 Total prepaid expenses and other current assets $ 7,692 $ 3,922
Schedule of Property and Equipment, Net	roperty and equipment, net is comprised of the following (in thousands): December 31, 2021 2020 Leasehold improvements $ 3,462 $ 1,984 Furniture and fixtures 544 322 Research equipment 9,633 4,892 Computers and software 130 124 Construction-in-progress 2,274 3,459 Total property and equipment 16,043 10,781 Less accumulated depreciation and amortization ( 3,187 ) ( 1,431 ) Total property and equipment, net $ 12,856 $ 9,350
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities are comprised of the following (in thousands): December 31, 2021 2020 Accrued compensation $ 5,453 $ 3,534 Accrued research and development costs 2,280 1,675 Accrued property and equipment 96 117 Other accrued and current liabilities 1,518 927 Total accrued and other liabilities $ 9,347 $ 6,253

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows (in thousands): Year Ended December 31, 2021 2020 Operating lease expense $ 2,581 $ 1,856 Variable lease expense (1) 302 178 Short-term lease expense 92 14 Total lease expense $ 2,975 $ 2,048 (1) Variable lease expense for the periods presented primarily included common area maintenance charges.
Schedule of Supplemental Information related to Operating Leases	Supplemental information related to operating leases were as follows (in thousands): Year Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used for operating leases $ 2,239 $ 1,705
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities under existing operating leases as of December 31, 2021 were as follows (in thousands): Year ending December 31, Amount 2022 $ 2,579 2023 2,432 2024 2,184 2025 2,200 2026 2,288 2027 and thereafter 5,035 Total future minimum lease payments 16,718 Less imputed interest ( 4,259 ) Present value of net minimum lease payments $ 12,459 Operating lease liabilities: Current 2,484 Non-current 9,975 Total lease liability $ 12,459

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	The following table summarizes the stock option activity during the year ended December 31, 2021 (in thousands, except number of shares, exercise prices and contractual term) : Number of shares Weighted-average Weighted-average Aggregate Outstanding at December 31, 2020 3,640,715 $ 11.00 9.0 $ 183,742 Granted 1,005,372 45.55 Exercised ( 281,932 ) 5.25 Forfeited ( 159,469 ) 23.09 Outstanding at December 31, 2021 4,204,686 $ 19.19 8.2 $ 22,022 Exercisable at December 31, 2021 1,516,556 $ 14.53 7.7 $ 10,009 Vested and expected to vest at 4,204,686 $ 19.19 8.2 $ 22,022
Summary of Additional Information Related to Stock Options	Additional information related to the Company’s stock options is summarized below (in thousands, except per share amounts): Year Ended December 31, 2021 2020 Weighted-average grant-date fair value of stock option grants per share $ 30.87 $ 12.84 Intrinsic value of options exercised $ 9,991 $ 1,444 Fair value of options vested $ 13,638 $ 2,664
Summary of Common Stock Reserved For Future Issuance	As of December 31, 2021, the Company had reserved the following shares of common stock for future issuance: December 31, Common stock options granted and outstanding 4,204,686 Reserved for future equity award grants 2,179,766 Reserved for future ESPP issuances 622,652 7,007,104
Summary of Share-based Compensation Expense	Share-based compensation expense for the years ended December 31, 2021 and 2020 were as follows (in thousands): Year Ended December 31, 2021 2020 Research and development $ 6,719 $ 1,871 General and administrative 7,742 4,877 Total share-based compensation expense $ 14,461 $ 6,748
Schedule of Fair Value of Stock Options Estimated on Date of Grant Using Black-Scholes Option Pricing Model	The fair value of stock options was estimated on the date of grant using the Black-Scholes option pricing model with the following range of assumptions: Year Ended December 31, 2021 2020 Common stock fair value $ 15.35 - $ 54.89 $ 4.29 - $ 61.47 Risk-free interest rate 0.6 % - 1.4 % 0.4 % - 0.5 % Expected volatility 77.3 % - 79.9 % 74.8 % - 81.4 % Expected term (in years) 5.5 - 6.1 5.5 - 6.1 Expected dividend yield — —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Reconciliation on Income Taxes Amount Computed by Applying Statutory Federal Income Tax Rate to Net Loss	A reconciliation on income taxes to the amount computed by applying the statutory federal income tax rate to the net loss is summarized as follows (in thousands): Year Ended December 31, 2021 2020 Income tax benefit at statutory rates $ ( 18,076 ) $ ( 19,186 ) State income tax, net of federal benefit ( 1,005 ) ( 3,929 ) Permanent items 592 749 Research and development credits ( 1,661 ) ( 1,264 ) Other ( 515 ) 231 Change in valuation allowance 20,665 14,965 Change in fair value of derivative liabilities 8,434 Income tax expense $ — $ —
Significant Components of Deferred Tax Assets	Significant components of the Company’s deferred tax assets are shown below (in thousands): December 31, 2021 2020 Deferred tax assets: Net operating loss carry forwards $ 33,767 $ 17,674 Depreciation and amortization 268 265 Research and development credits 6,984 3,986 Share-based compensation 2,245 876 Accrued expenses 1,189 983 Lease liability 2,616 2,496 Other, net 34 15 Total deferred tax assets 47,103 26,295 Valuation allowance for deferred tax assets ( 44,361 ) ( 23,696 ) Deferred tax assets, net of valuation allowance 2,742 2,599 Deferred tax liabilities: Right-of-use asset ( 2,471 ) ( 2,382 ) Depreciation and amortization ( 271 ) ( 217 ) Net deferred tax assets $ — $ —
Summary of Changes in Gross Unrecognized Tax Benefits	The following table summarizes the changes in the Company’s gross unrecognized tax benefits (in thousands): December 31, 2021 2020 Balance at the beginning of the year $ 777 $ 270 Increases (decreases) related to tax positions taken in prior years ( 281 ) 14 Increases related to tax positions taken in current year 863 493 Balance at the end of the year $ 1,359 $ 777

Description of Business - Addit

Description of Business - Additional Information (Details) $ / shares in Units, $ in Thousands	Aug. 12, 2021USD ($)	Jul. 14, 2020USD ($)$ / sharesshares	Jul. 01, 2020USD ($)	Dec. 31, 2021USD ($)Segmentshares	Dec. 31, 2020USD ($)shares
Class Of Stock [Line Items]
Number of operating segments | Segment				1
Shares issued during period | shares				32,971,107	32,627,963
Proceeds From Issuance Initial Public Offering					$ 265,096
Accumulated deficit				204,096	$ 118,021
Cash, cash equivalents, restricted cash and short-term investments				240,200
Maximum
Class Of Stock [Line Items]
Proceeds From Issuance Initial Public Offering	$ 150,000
Issuance and sale of equity	$ 500,000
Series B Convertible Preferred Stock
Class Of Stock [Line Items]
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs			$ 64,400
IPO
Class Of Stock [Line Items]
Shares issued during period | shares		16,100,000
Shares issued, price per share | $ / shares		$ 18
Underwriters Option to Purchase Additional Shares
Class Of Stock [Line Items]
Shares issued during period | shares		2,100,000
ATM Program
Class Of Stock [Line Items]
Proceeds from sale of offering				$ 0
Common Stock
Class Of Stock [Line Items]
Conversion of convertible preferred stock to common stock | shares					14,689,215
Common Stock | IPO
Class Of Stock [Line Items]
Conversion of convertible preferred stock to common stock | shares		14,689,215
Proceeds From Issuance Initial Public Offering		$ 265,100

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Polices - Additional Information (Details)	Jul. 01, 2020	Dec. 31, 2021USD ($)Segmentshares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020shares	Jul. 31, 2020USD ($)	Dec. 31, 2019shares
Accounting Policies [Line Items]
Reverse stock split, conversion ratio	3.7
Description of the reverse stock split		On July 1, 2020, the Company effected a 1-for-3.7 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock. Accordingly, the conversion ratio for the Company’s outstanding convertible preferred stock was proportionately adjusted such that the common stock issuable upon conversion of such preferred stock was decreased in proportion to the Reverse Stock Split. The par value of the common stock was not adjusted as a result of the Reverse Stock Split. All references to common stock, options to purchase common stock, early exercised options, share data, per share data, convertible preferred stock (to the extent presented on an as-converted to common stock basis) and related information contained in these financial statements have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented.
Impairment losses on long-lived assets		$ 0
Deferred offering costs					$ 4,400,000
Product revenue			$ 0
Liability regard to loss contingencies		$ 0	$ 0
Contractual term of options granted		10 years
Number of operating segments | Segment		1
ASU 2019-12
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Mar. 31, 2021	Mar. 31, 2021
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true	true
Convertible Preferred Stock
Accounting Policies [Line Items]
Temporary Equity Shares Outstanding | shares		0	0	0		27,283,973
Minimum
Accounting Policies [Line Items]
Estimated useful lives of assets		3 years
Maximum
Accounting Policies [Line Items]
Estimated useful lives of assets		5 years
Contractual term of options granted		10 years

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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net loss	$ (86,075)	$ (91,361)
Denominator:
Weighted average common shares outstanding	32,901,002	16,918,664
Less: weighted average unvested common stock issued upon early exercise of common stock options	(44,119)	(112,402)
Weighted average shares used to compute net loss per share, basic and diluted	32,856,883	16,806,262
Net loss per share, basic and diluted	$ (2.62)	$ (5.44)

Net Loss Per Share - Summarizes

Net Loss Per Share - Summarizes the Outstanding Potentially Dilutive Securities Excluded in Calculation of Diluted Net Loss Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4,220,867	3,718,108
Common Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4,204,686	3,640,715
Unvested Common Stock Upon Early Exercise of Common Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	16,181	77,393

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Fair Value of Financial Instrument (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jul. 01, 2020
Assets:
Money market funds	$ 57,018	$ 94,631
Total short-term investments	177,272	218,221
Total	234,290	312,852
Liabilities:
Preferred stock purchase right liability			$ 41,600
Commercial Paper
Assets:
Total short-term investments	21,272	63,445
Corporate Debt Securities
Assets:
Total short-term investments	111,466	48,614
U.S. Government Securities
Assets:
Total short-term investments	44,534	106,162
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Money market funds	57,018	94,631
Total	57,018	94,631
Significant Other Observable Inputs (Level 2)
Assets:
Total short-term investments	177,272	218,221
Total	177,272	218,221
Significant Other Observable Inputs (Level 2) | Commercial Paper
Assets:
Total short-term investments	21,272	63,445
Significant Other Observable Inputs (Level 2) | Corporate Debt Securities
Assets:
Total short-term investments	111,466	48,614
Significant Other Observable Inputs (Level 2) | U.S. Government Securities
Assets:
Total short-term investments	$ 44,534	$ 106,162

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Jul. 01, 2020
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Preferred stock purchase right liability			$ 41.6
Short-term investments
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Accrued interest receivable	$ 1	$ 1.1
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money Market Funds
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Investments	$ 57	$ 94.6

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Short-term Investments (Details) - Short-term investments - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available for sale securities, Amortized Cost	$ 177,422	$ 218,218
Available for sale securities, Unrealized Losses	(157)	(13)
Available for sale securities, Unrealized Gains	7	16
Available for sale securities,Estimated Fair Value	177,272	218,221
Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available for sale securities, Amortized Cost	21,272	63,445
Available for sale securities,Estimated Fair Value	$ 21,272	63,445
Commercial Paper | Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Maturity (in years)	1 year
U.S. Government Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available for sale securities, Amortized Cost	$ 44,602	106,157
Available for sale securities, Unrealized Losses	(68)	(7)
Available for sale securities, Unrealized Gains		12
Available for sale securities,Estimated Fair Value	$ 44,534	$ 106,162
U.S. Government Securities | Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Maturity (in years)	1 year	1 year
Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available for sale securities, Amortized Cost	$ 111,548	$ 48,616
Available for sale securities, Unrealized Losses	(89)	(6)
Available for sale securities, Unrealized Gains	7	4
Available for sale securities,Estimated Fair Value	$ 111,466	$ 48,614
Corporate Debt Securities | Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Maturity (in years)	1 year	1 year

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Schedule of Change in Preferred Stock Purchase Right Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Balance, January 1, 2020		$ 1,478
Change in fair value of preferred stock purchase right liability		40,163
Reclassification of preferred stock purchase right liability to equity upon issuance of convertible preferred stock		$ (41,641)

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Prepaid expenses	$ 4,538	$ 2,586
Other current assets	3,154	1,336
Total prepaid expenses and other current assets	$ 7,692	$ 3,922

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Total property and equipment	$ 16,043	$ 10,781
Less accumulated depreciation and amortization	(3,187)	(1,431)
Total property and equipment, net	12,856	9,350
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	3,462	1,984
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	544	322
Research Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	9,633	4,892
Computers and Software
Property Plant And Equipment [Line Items]
Total property and equipment	130	124
Construction in Progress
Property Plant And Equipment [Line Items]
Total property and equipment	$ 2,274	$ 3,459

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Depreciation and amortization expense	$ 1.8	$ 0.8

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued compensation	$ 5,453	$ 3,534
Accrued research and development costs	2,280	1,675
Accrued property and equipment	96	117
Other accrued and current liabilities	1,518	927
Total accrued and other liabilities	$ 9,347	$ 6,253

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease, Cost [Abstract]
Operating lease expense	$ 2,581	$ 1,856
Variable lease expense	302	178
Short-term lease expense	92	14
Total lease expense	$ 2,975	$ 2,048

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$ 2,239	$ 1,705

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended					12 Months Ended
	Oct. 31, 2021	Jul. 31, 2021	Jan. 31, 2021	May 31, 2020	May 31, 2018	Dec. 31, 2021	Dec. 31, 2020
Lessee Lease Description [Line Items]
Weighted-average discount rate						9.20%
Operating lease not yet commenced minimum lease payments						$ 4,600	$ 99,600
Expects to pay base rent over the lease term		$ 99,600
Lessee, operating lease, term of contract		12 years
Monthly base rent		$ 600
Maximum monthly base rent after increase on annual basis		800
Cash received for tenant improvement allowances to be repaid		4,400
Lease liabilities						12,459
Right-of-use assets						11,678	$ 8,505
Maximum
Lessee Lease Description [Line Items]
Tenant improvement allowances yet to receive		$ 25,200
Lease liabilities						62,000
Right-of-use assets						62,000
Minimum
Lessee Lease Description [Line Items]
Lease liabilities						49,000
Right-of-use assets						49,000
Letter of Credit
Lessee Lease Description [Line Items]
Security deposit						$ 1,600
Third amendment
Lessee Lease Description [Line Items]
Operating lease, description						The lease amendment for this additional space commenced in April 2021 and expires in March 2024.
Lease expiration month and year			2024-03
Other Current Assets
Lessee Lease Description [Line Items]
Operating lease receivable						$ 800
Initial Lease Agreement
Lessee Lease Description [Line Items]
Operating lease, existence of option to extend	true			true
Lease term				8 years
Lease expiration year	2029			2029
Lessee option to extend description	The lease amendment of this additional space is anticipated to commence in April 2022 and expires in January 2029. The Company expects to pay base rent of approximately $4.6 million over the lease term. The lease amendment also includes this additional space in the Company’s option to extend the amended Initial Lease Agreement for an additional seven-year term.					The lease amendment also includes an extension of the lease term for the existing office and laboratory space beginning on May 1, 2020 and expiring in January 2029. The amendment to the Initial Lease Agreement also includes an option to extend the lease for an additional seven-year term.
Expects to pay base rent over the lease term	$ 4,600
Corporate Office and Laboratory Space
Lessee Lease Description [Line Items]
Weighted-average remaining lease term						6 years 8 months 12 days
Renewal term						7 years
Operating lease, existence of option to extend						true
Lease expiration year					2025
Corporate Office and Laboratory Space | Initial Lease Agreement
Lessee Lease Description [Line Items]
Renewal term				7 years
Operating lease, existence of option to extend					true
Lessee option to extend description						In April 2019, the Company executed the first amendment to the Initial Lease Agreement for additional corporate space, laboratory space and manufacturing capabilities and an extension to the lease term through April 2026.

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 2,579
2023	2,432
2024	2,184
2025	2,200
2026	2,288
2027 and thereafter	5,035
Total future minimum lease payments	16,718
Less imputed interest	(4,259)
Present value of net minimum lease payments	12,459
Operating lease liabilities:
Current	2,484	$ 1,402
Non-current	9,975	$ 7,517
Total lease liability	$ 12,459

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Liabilities recorded for agreements	$ 0	$ 0
Agreement with Financial Institution
Loss Contingencies [Line Items]
Letters of credit outstanding amount	$ 2,100,000
Agreement with Financial Institution | Maximum
Loss Contingencies [Line Items]
Letter of credit notice period by financial institution before annual expiration date	60 days
Agreement with Financial Institution | Minimum
Loss Contingencies [Line Items]
Letter of credit notice period by financial institution before annual expiration date	30 days

Collaboration and License Agr_2

Collaboration and License Agreements - Additional Information (Details)	Oct. 26, 2021USD ($)	May 05, 2021CrisprCas9	Aug. 31, 2016USD ($)shares	Aug. 31, 2016SGD ($)shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development costs					$ 63,412,000	$ 36,220,000
Research Collaboration Agreement | Development and Regulatory Approval Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential future payments					totaling less than mid-twenty million dollars
Amount paid under the agreement					$ 0
Amounts owed under the agreement					0
Receivable under research cost sharing provision					1,100,000
MaxCyte License Agreement | Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestone payments	$ 10,000,000
Net sales milestone payments	61,900,000
Annual research license fees and Commercialization license fees	100,000
MaxCyte License Agreement | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestone payments	13,000,000
Net sales milestone payments	116,800,000
Annual research license fees and Commercialization license fees	$ 300,000
NK Cell Products | Research Collaboration Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of non-exclusive rights to gene editing targets | CrisprCas9		5
NUS and St. Jude | License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment			$ 31,800	$ 42,750
Upfront payment, shares issued | shares			250,000	250,000
Fair value of common stock issued			$ 2,500
Annual license maintenance fee				$ 25,000
Potential milestone payments				$ 5,000,000
Percentage of licensors royalties			2.50%	2.50%
Milestone payment					100,000
NUS and St. Jude | License Agreement | Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of sublicensing income			7.50%	7.50%
NUS and St. Jude | License Agreement | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of sublicensing income			20.00%	20.00%
License agreement term			120 months	120 months
NUS and St. Jude | License Maintenance Fees | License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development costs					$ 37,000	$ 37,000
NUS and St. Jude | After Year Two of the Agreement | License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Annual license maintenance fee				$ 50,000

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - 401 (K) Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, description	On January 1, 2018, the Company adopted a defined contribution 401(k) plan that is available to eligible employees.
Employer contribution, percent	3.00%
Expense contribution plan	$ 0.6	$ 0.3

Convertible Preferred Stock a_2

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Additional Information (Details) - USD ($)	Aug. 12, 2021	Jul. 14, 2020	Jul. 01, 2020	Aug. 27, 2019	Aug. 31, 2019	May 31, 2019	Dec. 31, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 26, 2019
Class Of Stock [Line Items]
Capital stock, shares authorized											126,270,161
Common stock, shares authorized			100,000,000					100,000,000	100,000,000		71,919,982
Common stock, par value			$ 0.0001					$ 0.0001	$ 0.0001		$ 0.0001
Convertible preferred stock, par value											$ 0.0001
Preferred stock, shares authorized			54,350,179					54,350,179	54,350,179
Preferred stock, par value			$ 0.0001					$ 0.0001	$ 0.0001
Estimated fair value of preferred stock purchase right liability			$ 41,600,000		$ 2,800,000					$ 1,478,000
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings									$ (40,163,000)
Proceeds From Issuance Initial Public Offering									$ 265,096,000
Common Stock
Class Of Stock [Line Items]
Stock issued and sold									16,100,000
Stock Issued During Period Shares Conversion Of Convertible Securities									14,689,215
Common Stock | IPO
Class Of Stock [Line Items]
Stock issued and sold		16,100,000
Stock Issued During Period Shares Conversion Of Convertible Securities		14,689,215
Stock public offering price		$ 18
Proceeds From Issuance Initial Public Offering		$ 265,100,000
Common Stock | Underwriters Option to Purchase Additional Shares
Class Of Stock [Line Items]
Stock issued and sold		2,100,000
Maximum
Class Of Stock [Line Items]
Proceeds From Issuance Initial Public Offering	$ 150,000,000
Series B Convertible Promissory Notes
Class Of Stock [Line Items]
Convertible notes, beneficial conversion feature						$ (300,000)
Convertible notes accrued interest per year					7.50%
Percentage of convertible notes automatically convert into Series B convertible preferred stock price per share					85.00%
Derivative instrument						$ 1,300,000
Amortization term of interest expense using effective interest method						1 year
Change in conversion benefit resulted in adjustment to derivative instrument					$ 900,000
Loss on extinguishment of debt					800,000
Series B Convertible Promissory Notes | Previously Recorded
Class Of Stock [Line Items]
Convertible notes, beneficial conversion feature					$ (100,000)
Series A investors | Series B Convertible Promissory Notes
Class Of Stock [Line Items]
Number of convertible promissory notes issued						$ 6,000,000
Convertible notes accrued interest per year						7.50%
Convertible notes original maturity date from issuance date						1 year
Series A investors | Series B Convertible Promissory Notes | Maximum
Class Of Stock [Line Items]
Percentage of convertible notes automatically convert into Series B convertible preferred stock price per share						85.00%
Series A investors | Series B Convertible Promissory Notes | Minimum
Class Of Stock [Line Items]
Percentage of convertible notes automatically convert into Series B convertible preferred stock price per share						80.00%
Convertible Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock, shares authorized											54,350,179
Sale of preferred stock, net of issuance costs, Shares									27,066,206
Number of shares converted into shares								0	0	27,283,973
Convertible Preferred Stock | Common Stock | IPO
Class Of Stock [Line Items]
Stock Issued During Period Shares Conversion Of Convertible Securities			14,689,215
Series A Convertible Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock, shares authorized											6,170,349
Stock issued and sold							3,866,602
Convertible preferred stock price per share							$ 2.07
Convertible notes, beneficial conversion feature							$ (900,000)
Series A Convertible Preferred Stock | GSK Convertible Note
Class Of Stock [Line Items]
Convertible notes outstanding shares converted into convertible preferred stock							292,633
Percentage of outstanding convertible notes into convertible preferred stock							85.00%
Series A Convertible Preferred Stock | Series A Financing investors
Class Of Stock [Line Items]
Convertible preferred stock price per share							$ 2.07
Convertible notes outstanding shares converted into convertible preferred stock							2,011,114
Percentage of outstanding convertible notes into convertible preferred stock							80.00%
Series B Convertible Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock, shares authorized											48,179,830
Convertible notes outstanding shares converted into convertible preferred stock				1
Number of shares converted into shares				10
Sale of preferred stock, net of issuance costs, Shares			27,066,206
Proceeds From Issuance Of Convertible Preferred Stock			$ 64,400,000
Series B Convertible Preferred Stock | Stock Purchase Agreement
Class Of Stock [Line Items]
Number of convertible preferred stock sold and issued during the period				27,066,206
Gross proceed from convertible preferred stock				$ 64,400,000

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common stock available for issuance		7,007,104
Other long-term liabilities		$ 18,000	$ 82,000
Unrecognized compensation cost		$ 36,400,000
Unrecognized compensation cost, expected to be recognized over weighted average remaining service period		2 years 2 months 12 days
Share-based compensation		$ 14,461,000	$ 6,748,000
Contractual term of options granted		10 years
Dividends issued for options		$ 0
Dividends expected to be issued over life of options		$ 0
Estimated dividend yield		0.00%
Separation and Release Agreement | Matthew Plunkett
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 2,300,000
Severance benefits expense	$ 300,000
Agreement execution date	Oct. 2, 2020
Period in which severance benefits payable after termination date	6 months
Restricted Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares subject to repurchase		16,181	77,393
Other long-term liabilities		$ 18,000	$ 100,000
2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued		0
Number of common stock available for issuance		622,652
Maximum percentage of employee compensation eligible for plan		15.00%
Offering period		6 months
Commons stock purchase price as percentage of fair value		85.00%
2015 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued		1,798,614
2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common stock authorized for issuance		4,295,638
Increase in share limit as percentage of outstanding shares of common stock on last trading day in prior year		5.00%
Number of common stock available for issuance		2,179,766

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity (Details) - 2020 Plan and 2015 Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, outstanding beginning balance	3,640,715
Number of shares, granted	1,005,372
Number of shares, exercised	(281,932)
Number of shares, forfeited	(159,469)
Number of shares, outstanding ending balance	4,204,686	3,640,715
Number of shares, exercisable	1,516,556
Number of shares, vested and expected to vest	4,204,686
Weighted-average exercise price, outstanding beginning balance	$ 11
Weighted-average exercise price, granted	45.55
Weighted-average exercise price, exercised	5.25
Weighted-average exercise price, forfeited	23.09
Weighted-average exercise price, outstanding ending balance	19.19	$ 11
Weighted-average exercise price, exercisable	14.53
Weighted-average exercise price, vested and expected to vest	$ 19.19
Weighted-average remaining contractual term (in years), outstanding balance	8 years 2 months 12 days	9 years
Weighted-average remaining contractual term (in years), exercisable	7 years 8 months 12 days
Weighted-average remaining contractual term (in years), vested and expected to vest	8 years 2 months 12 days
Aggregate intrinsic value, outstanding balance	$ 22,022	$ 183,742
Aggregate intrinsic value, exercisable	10,009
Aggregate intrinsic value, vested and expected to vest	$ 22,022

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Additional Information Related to Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted-average grant-date fair value of stock option grants per share	$ 30.87	$ 12.84
Intrinsic value of options exercised	$ 9,991	$ 1,444
Fair value of options vested	$ 13,638	$ 2,664

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Common Stock Reserved for Future Issuance (Details)	Dec. 31, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,007,104
Reserved for Future ESPP Issuances
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	622,652
Reserved for Future Equity Award Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	2,179,766
Common Stock Options Granted and Outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,204,686

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 14,461	$ 6,748
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	6,719	1,871
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 7,742	$ 4,877

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Fair Value of Stock Options Estimated on Date of Grant Using Black-Scholes Option Pricing Model (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, minimum	0.60%	0.40%
Risk-free interest rate, maximum	1.40%	0.50%
Expected volatility, minimum	77.30%	74.80%
Expected volatility, maximum	79.90%	81.40%
Expected dividend yield	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock fair value	$ 15.35	$ 4.29
Expected term (in years)	5 years 6 months	5 years 6 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock fair value	$ 54.89	$ 61.47
Expected term (in years)	6 years 1 month 6 days	6 years 1 month 6 days

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Provision or benefit for income taxes	$ 0	$ 0
Increase in valuation allowance of net deferred tax assets	20,700,000	15,000,000
Net deferred tax asset	2,742,000	2,599,000
Gross unrecognized tax benefits	1,359,000	777,000	$ 270,000
Unrecognized tax benefits, penalties and interest expense	0	$ 0
Net Operating Loss and Tax Credit Carryforwards to Offset | Minimum
Income Taxes [Line Items]
Changes in ownership by stockholders holding percentage			5.00%
Federal
Income Taxes [Line Items]
Net operating loss carryforwards	139,000,000
Federal | Research and Development Credit Carry Forwards
Income Taxes [Line Items]
Tax credit carryforwards	$ 5,400,000
Tax credit carryforwards, expire	2035
Federal | 2035
Income Taxes [Line Items]
Net operating loss carryforwards	$ 200,000
Net operating loss carryforwards, expire	2035
Federal | 2036
Income Taxes [Line Items]
Net operating loss carryforwards	$ 3,000,000
Net operating loss carryforwards, expire	2036
Federal | Carry Forward Indefinitely
Income Taxes [Line Items]
Net operating loss carryforwards	$ 135,800,000
California State
Income Taxes [Line Items]
Net operating loss carryforwards	$ 65,400,000
Net operating loss carryforwards, expire	2036
California State | Research and Development Credit Carry Forwards
Income Taxes [Line Items]
Tax credit carryforwards	$ 3,600,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation on Income Taxes Amount Computed by Applying Statutory Federal Income Tax Rate to Net Loss (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax benefit at statutory rates	$ (18,076,000)	$ (19,186,000)
State income tax, net of federal benefit	(1,005,000)	(3,929,000)
Permanent items	592,000	749,000
Research and development credits	(1,661,000)	(1,264,000)
Other	(515,000)	231,000
Change in valuation allowance	20,665,000	14,965,000
Change in fair value of derivative liabilities		8,434,000
Income tax expense	$ 0	$ 0

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carry forwards	$ 33,767	$ 17,674
Depreciation and amortization	268	265
Research and development credits	6,984	3,986
Share-based compensation	2,245	876
Accrued expenses	1,189	983
Lease liability	2,616	2,496
Other, net	34	15
Total deferred tax assets	47,103	26,295
Valuation allowance for deferred tax assets	(44,361)	(23,696)
Deferred tax assets, net of valuation allowance	2,742	2,599
Deferred tax liabilities:
Right-of-use asset	(2,471)	(2,382)
Depreciation and amortization	(271)	(217)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes in Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 777	$ 270
Increases (decreases) related to tax positions taken in prior years	(281)	14
Increases related to tax positions taken in current year	863	493
Balance at the end of the year	$ 1,359	$ 777