Vincerx Pharma (VINC) 10-Q 11 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 30, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	Vincerx Pharma, Inc.
Entity Central Index Key	0001796129
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		21,245,842
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-39244
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-3197402
Entity Address, Address Line One	260 Sheridan Avenue, Suite 400
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94306
City Area Code	650
Local Phone Number	800-6676
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	VINC
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,489	$ 11,663
Restricted cash	70	70
Short-term marketable securities	35,279	40,796
Prepaid expenses	807	134
Other current assets	3,362	3,301
Total current assets	44,007	55,964
Right-of-use assets, net	2,923	3,064
Property, plant and equipment, net	164	177
Other assets	354	81
Total assets	47,448	59,286
Current liabilities
Accounts payable	6,173	4,065
Accrued expenses	3,355	3,923
Lease liability	1,058	1,024
Common stock warrant liabilities	126	144
Total current liabilities	10,712	9,156
Lease liability, net of current portion	2,220	2,412
Other noncurrent liabilities	50	50
Total liabilities	12,982	11,618
Commitments and contingencies - Note 6
Stockholders' equity
Preferred stock, $0.0001 par value; 30,000,000 shares authorized, none issued or outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock, $0.0001 par value; 120,000,000 shares authorized, 21,245,842 shares and 21,242,884 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	2	2
Additional paid-in capital	170,108	169,030
Accumulated other comprehensive income (loss)	35	(26)
Accumulated deficit	(135,679)	(121,338)
Total stockholders' equity	34,466	47,668
Total liabilities and stockholders' equity	$ 47,448	$ 59,286

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred stock shares authorized	30,000,000	30,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	120,000,000	120,000,000
Common stock shares issued	21,245,842	21,242,884
Common stock shares outstanding	21,245,842	21,242,884

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations And Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating expenses:
General and administrative	$ 4,512	$ 5,656
Research and development	10,587	15,971
Total operating expenses	15,099	21,627
Loss from operations	(15,099)	(21,627)
Other income (expense)
Change in fair value of warrant liabilities	18	5,211
Interest income	466	0
Other income (expense)	274	(8)
Total other income (expense)	758	5,203
Net loss	(14,341)	(16,424)
Other comprehensive income:
Net foreign currency translation gain	30	15
Net unrealized gain on marketable securities	31	0
Comprehensive loss	$ (14,280)	$ (16,409)
Net loss per common share, basic	$ (0.68)	$ (0.79)
Net loss per common share, diluted	$ (0.68)	$ (0.79)
Weighted average common shares outstanding, basic	21,188	20,896
Weighted average common shares outstanding, diluted	21,188	20,896

Condensed consolidated statem_2

Condensed consolidated statements of changes In stockholders' equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2021	$ 100,321	$ 2	$ 156,311	$ (21)	$ (55,971)
Beginning Balance, Shares at Dec. 31, 2021		21,057
Stock-based compensation	5,258		5,258
Cumulative translation adjustment	15			15
Unrealized gain on marketable securities	0
Net loss	(16,424)				(16,424)
Ending Balance at Mar. 31, 2022	89,170	$ 2	161,569	(6)	(72,395)
Ending Balance, Shares at Mar. 31, 2022		21,057
Beginning Balance at Dec. 31, 2022	47,668	$ 2	169,030	(26)	(121,338)
Beginning Balance, Shares at Dec. 31, 2022		21,243
Issuance of common stock from employee stock plans	3	$ 0	3
Issuance of common stock from employee stock plans, Shares		3
Stock-based compensation	1,075		1,075
Cumulative translation adjustment	30			30
Unrealized gain on marketable securities	31			31
Net loss	(14,341)				(14,341)
Ending Balance at Mar. 31, 2023	$ 34,466	$ 2	$ 170,108	$ 35	$ (135,679)
Ending Balance, Shares at Mar. 31, 2023		21,246

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (14,341)	$ (16,424)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	13	14
Stock-based compensation	1,075	5,258
Amortization of right-of-use assets	141	216
Change in fair value of warrant liabilities	(18)	(5,211)
Net amortization of discounts on marketable securities	(337)	0
Changes in operating assets and liabilities:
Prepaid and other current assets	(734)	(1,234)
Other assets	(273)	(214)
Accounts payable	2,108	1,367
Accrued expenses	(568)	1,336
Lease liabilities	(158)	(136)
Net cash used in operating activities	(13,092)	(15,028)
Cash Flows from Investing Activities:
Purchases of marketable securities	(4,192)	0
Sales and maturities of marketable securities	10,077	0
Net cash provided by investing activities	5,885	0
Cash Flows from Financing Activities:
Proceeds from issuance of common stock from employee stock plans	3	0
Net cash provided by financing activities	3	0
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	30	17
Net decrease in cash, cash equivalents, and restricted cash	(7,174)	(15,011)
Cash, cash equivalents, and restricted cash at beginning of the period	11,733	111,564
Cash, cash equivalents, and restricted cash at end of the period	4,559	96,553
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 0	$ 0

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	NOTE 1. NATURE OF BUSINESS LSAC was initially formed on December 19, 2018 as a Delaware corporation for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. In December 2020, the Merger Sub merged with and into Legacy Vincera Pharma, with Legacy Vincera Pharma surviving the Merger as a wholly- owned subsidiary of LSAC. In connection with the Business Combination, LSAC changed its name to Vincera Pharma, Inc., and subsequently in January 2021, changed its name to Vincerx Pharma, Inc. (together with its consolidated subsidiaries, the “Company”). The Company is a clinical-stage biopharmaceutical company focused on leveraging its extensive development and oncology expertise to advance new therapies intended to address unmet medical needs for the treatment of cancer. The Company’s current pipeline is entirely derived from the Bayer License Agreement (see Note 3), pursuant to which the Company has been granted an exclusive, royalty-bearing, worldwide license under certain Bayer patents and know-how follow-on The Company’s business operations, and those of third parties with whom the Company conducts business, have been, and could continue to be, adversely affected by health pandemics and epidemics, including COVID-19,

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q S-X The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K 10-K Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, common stock warrant liabilities and stock-based compensation. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates. Reclassifications Certain previously reported financial information has been reclassified to conform to the current period presentation. The impact of reclassifications was not significant to the prior year’s overall presentation. Significant Accounting Policies Concentrations of Credit Risk The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, development by the Company or its competitors of technological innovations, risks of failure of clinical studies, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to transition from preclinical manufacturing to commercial production of products. The Company’s future product candidates will require approvals from the FDA and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed, or the Company was unable to maintain approval for any product candidate, it could have a material adverse impact on the Company. Cash and Cash Equivalents Management considers all highly liquid investments with an insignificant interest rate risk and original maturities of three months or less to be cash equivalents. Marketable Securities The Company generally invests its excess cash in money market funds and investment grade short-term to intermediate-term fixed income securities. Such investments are included in cash and cash equivalents, short-term marketable securities or long-term marketable securities on the condensed consolidated balance sheets. Marketable securities with a maturity date greater than 90 days and less than one year at each condensed consolidated balance sheet date are classified as short-term. Marketable securities with a maturity date greater than one year, if any, are classified as long-term. All of the Company’s marketable securities are considered available-for-sale The Company periodically evaluates whether declines in the fair values of its marketable securities below their amortized cost are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as the Company’s ability and intent to hold the marketable security until a forecasted recovery occurs. Additionally, the Company assesses whether it has plans to sell the marketable security or it is more likely than not it will be required to sell any marketable securities before recovery of its amortized cost basis. Factors considered include quoted market prices, recent financial results and operating trends, implied values from any recent transactions or offers of investee securities, credit quality of debt instrument issuers, other publicly available information that may affect the value of the marketable security, duration and severity of the decline in value, and the Company’s strategy and intentions for holding the marketable security. German Grant Income The Company recognizes grant income in the period when the underlying eligible expenses are incurred. The German government grant program provides for tax refunds or direct reimbursements of eligible research expenses of up to 1.0 million euros per year over a period of six years. The grant was approved in 2022 and is retroactive to 2021. Grant income for the three months ended March 31, 2023 has been recorded in other income (expense), net on the Company’s condensed consolidated statements of operations and comprehensive loss. The corresponding receivable is included within other current assets or other assets on the Company’s condensed consolidated balance sheet depending upon expectations for collection within 12 months of the balance sheet date. There have been no other material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K.

Bayer License

Bayer License	3 Months Ended
	Mar. 31, 2023
Bayer License Agreement [Abstract]
Bayer License	NOTE 3. BAYER LICENSE On October 7, 2020, the Company entered into the Bayer License Agreement, which became effective on December 23, 2020 upon the closing of the Business Combination. Pursuant to the Bayer License Agreement, the Company has an exclusive, worldwide, royalty-bearing license under certain Bayer patents and know-how P-TEFb Following the closing of the Business Combination, the Company paid Bayer a $5.0 million upfront license fee on January 5, 2021. As of December 31, 2022, the Company recorded a $1.0 million development milestone payable to Baye r, which remains outstanding as of March 31, 2023, in c If the Company achieves all of the development and commercial sales milestones for license products under the Bayer License Agreement for each of the countries and disease indications, the Company would be obligated to pay milestone payments that range from $110.0 million to up to $318.0 million per licensed product, and upon successful commercialization of at least five licensed products, the Company could be required to pay aggregate milestone payments in excess of $1.0 billion. In addition to milestone payments, the Company is also required to pay Bayer under the Bayer License Agreement ongoing royalties in the single digit to low double-digit percentage range on net commercial sales of licensed products.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 4. FAIR VALUE MEASUREMENT The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (amounts in thousands): Fair Value Measured as of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Cash Equivalents: Money market funds $ 1,308 $ — $ — $ 1,308 Short-term marketable securities: Commercial paper — 10,086 — 10,086 U.S. government agency securities — 15,892 — 15,892 Corporate debt securities — 9,301 — 9,301 Total cash equivalents and marketable securities $ 1,308 $ 35,279 $ — $ 36,587 Fair Value Measured as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Cash Equivalents: Money market funds $ 2,266 $ — $ — $ 2,266 Commercial paper — 4,496 — 4,496 Corporate debt securities — 3,032 — 3,032 Short-term marketable securities: Commercial paper — 15,587 — 15,587 U.S. government treasuries 1,005 — — 1,005 U.S. government agency securities — 16,069 — 16,069 Corporate debt securities — 8,135 — 8,135 Total cash equivalents and marketable securities $ 3,271 $ 47,319 $ — $ 50,590 The Company’s Level 2 securities are valued using third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly. There were no transfers of assets between Level 1, Level 2, or Level 3 during the three-month period ended March 31, 2023. Fair Value Measured as of Level 1 Level 2 Level 3 Total Liabilities: Common stock warrant liabilities $ — $ — $ 126 $ 126 Total fair value $ — $ — $ 126 $ 126 Fair Value Measured as of Level 1 Level 2 Level 3 Total Liabilities: Common stock warrant liabilities $ — $ — $ 144 $ 144 Total fair value $ — $ — $ 144 $ 144 The estimated fair value of the warrant liability for the private warrants at March 31, 2023 and December 31, 2022 was determined using Level 3 inputs. Inherent in a Monte Carlo options pricing model are assumptions related to expected stock-price volatility, expected life, risk-free interest rate, and dividend yield. The Company estimates the volatility of its ordinary shares based on its historical volatility for a time period that approximates the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon The following table presents changes in Level 3 liabilities measured at fair value for the three-month period ended March 31, 2023. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs (in thousands). Warrant Balance – January 1, 2023 $ 144 C (18 ) Balance – March 31, 2023 $ 126 A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy as of March 31, 2023 and December 31, 2022 is as follows: As of As of Stock price $ 1.04 $ 1.02 Exercise price $ 11.50 $ 11.50 Option term (years) 2.7 3.0 Volatility (annual) 74.8 % 73.7 % Risk-free rate 3.8 % 4.1 % Dividend yield (per share) 0 % 0 %

Available-For-Sale Securities

Available-For-Sale Securities	3 Months Ended
	Mar. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Available-For-Sale Securities	NOTE 5. AVAILABLE-FOR-SALE All marketable securities were considered available-for-sale March 31, 2023 Amortized Cost Gross Unrealized Gross Fair Value Assets: Short-term marketable securities: Commercial paper $ 10,094 $ — $ (8 ) $ 10,086 U.S. government agency securities 15,917 — (25 ) 15,892 Corporate debt securities 9,311 — (10 ) 9,301 Total marketable securities $ 35,322 $ — $ (43 ) $ 35,279 December 31, 2022 Amortized Cost Gross Unrealized Gross Fair Value Assets: Short-term marketable securities: Commercial paper $ 15,608 $ — $ (21 ) $ 15,587 U.S. government treasuries 1,007 — (2 ) 1,005 U.S. government agency securities 16,105 — (36 ) 16,069 Corporate debt securities 8,149 — (14 ) 8,135 Total marketable securities $ 40,869 $ — $ (73 ) $ 40,796 As of March 31, 2023, some of the Company’s marketable securities were in an unrealized loss position. The Company determined that it did have the ability and intent to hold all marketable securities that have been in a continuous loss position until maturity or recovery, thus there has been no recognition of any other-than-temporary impairment in the three-months ended March 31, 2023.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 6. COMMITMENTS AND CONTINGENCIES Leases On December 23, 2020, the Company entered into a five-year term lease agreement which commenced on January 1, 2021 At March 31, 2023, the Company had operating lease liabilities of approximately $3.3 million and right-of-use In connection with the Company’s strategic plan and workforce reduction in 2022, the Company consolidated its leased office space at its corporate headquarters location. Effective July 8, 2022, the Company subleased substantially all of its remaining unused office space for a term of 18 months at a base rent of $50,000 per month. The Company has not been legally released from its primary obligations under the original lease and subsequent amendments and, therefore, continues to account for the original lease according to Accounting Standard Codification (“ASC”) Topic 842, “Leases.” The Company records both fixed and variable payments received from the sublessee in its condensed consolidated statements of operations and comprehensive loss on a straight-line basis as an offset to rent expense. Such payments received in the three months ended March 31, 2023 were $150,000. The Company also received a $50,000 deposit, recorded as a noncurrent liability in the condensed consolidated balance sheets. The following summarizes quantitative information about the Company’s operating leases (amounts in thousands): For the three months 2023 2022 Lease cost Operating lease cost $ 299 $ 299 Variable lease cost — — Total operating lease expense $ 299 $ 299 Other information Operating cash flows from operating leases $ 317 $ 219 Right-of-use $ — $ — Weighted-average remaining lease term – operating leases 2.8 3.8 Weighted-average discount rate – operating leases 8 % 8 % As of March 31, 2023, future minimum payments during the remaining period and the next three years are as follows (in thousands): Remaining period ended December 31, 2023 $ 949 Year ended December 31, 2024 1,320 Year ended December 31, 2025 1,372 Year ended December 31, 2026 28 Total 3,669 Less present value discount (391 ) Operating lease liabilities included in the condensed consolidated balance sheet at March 31, 2023 $ 3,278

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders' Equity	NOTE 7. STOCKHOLDERS’ EQUITY The Company’s Certificate of Incorporation authorizes the issuance of 120,000,000 shares of common stock, $0.0001 par value per share and 30,000,000 shares of undesignated preferred stock, $0.0001 par value per share. As of March 31, 2023 and December 31, 2022, there were 21,245,842 shares and 21,242,884 shares, respectively, of common stock outstanding, and no shares of preferred stock outstanding. Restricted Stock A summary of restricted stock activity for the three months ended March 31, 2023 and 2022 is presented below: Number of Shares Weighted Average Nonvested at January 1, 2023 67,002 $ 0.065 Vested (16,396 ) — Nonvested at March 31, 2023 50,606 $ 0.074 Number of Shares Weighted Average Nonvested at January 1, 2022 182,686 $ 0.045 Vested (33,203 ) — Nonvested at March 31, 2022 149,483 $ 0.049 As of March 31, 2023, there was approximately $3,900 of unrecognized stock-based compensation related to restricted stock that will be amortized in 1.2 years. Warrants As of March 31, 2023, there were 3,295,000 private warrants to purchase common stock outstanding. No public warrants remain outstanding at March 31, 2023. The private warrants are identical to the previously outstanding public warrants except that (i) each private warrant is exercisable for one share of common stock at an exercise price of $11.50 per share and (ii) such private warrants will be exercisable for cash (even if a registration statement covering the shares of common stock issuable upon exercise of such private warrants is not effective) or on a cashless basis, at the holder’s option (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to remove the cashless exercise provision), and will not be redeemable by the Company (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held first 12 months following the closing of the Business Combination unless the last sales price of the Company’s common stock has been equal to or greater than $20.00 per share for any 20 trading days within a 30 trading day period ending on the third business day prior to the date on which notice of redemption is given), in each case so long as they are still held by the initial purchasers or their affiliates. The private warrants purchased by Rosedale Park, LLC, will expire on March 5, 2025, provided that once the private warrants are not beneficially owned by Chardan Capital Markets, LLC or any of its related persons anymore, the private warrants may not be exercised five years following the completion of the Company’s initial business combination. The previously outstanding public warrants and the private warrants issued to LifeSci Holdings LLC that were amended as described above were determined to be equity classified in accordance with ASC 815, “Derivatives and Hedging” (see Note 4). The remaining private warrants were determined to be liability classified in accordance with ASC 815, “Derivatives and Hedging” (see Note 4).

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	Mar. 31, 2023
Share-based Payment Arrangement [Abstract]
Equity Incentive Plans	NOTE 8. EQUITY INCENTIVE PLANS In connection with the Business Combination, the stockholders approved the Vincerx Pharma, Inc. 2020 Stock Incentive Plan (the “2020 Plan”), which became effective upon the closing of the Business Combination on December 23, 2020. As of March 31, 2023, the Company had 5,600,152 shares of common stock reserved for issuance, and 417,500 options to acquire common stock that are available to grant, under the 2020 Plan. The 2020 Plan allows for the grant of stock options and rights to acquire restricted stock to employees, directors, and consultants of the Company. The terms and conditions of specific awards are set at the discretion of the Company’s board of directors. Options granted under the 2020 Plan expire no later than 10 years from the date of grant. Unvested common shares obtained upon early exercise of options are subject to repurchase by the Company at the original issue price. Stock option activity under the 2020 Plan is as follows (in thousands, except per share amounts): Stock Options Weighted Average Weighted Aggregate Outstanding at January 1, 2023 4,353 $ 10.87 8.6 $ 125 Options granted 952 1.17 — — Options exercised (3 ) 0.82 — — Options cancelled (119 ) 16.56 — — Outstanding at March 31, 2023 5,183 $ 8.97 8.8 $ 137 Options vested and exercisable at March 31, 2023 2,265 $ 15.00 8.2 $ 22 Stock-based compensation expense is based on the grant-date fair value. The Company recognizes compensation expense for all stock-based awards on a straight-line basis over the requisite service period of the awards, which is generally the option vesting term of three years. As of March 31, 2023, the Company had stock-based compensation of approximately $4.1 million related to unvested stock options not yet recognized that are expected to be recognized over an estimated weighted average period of 0.8 years. The following weighted average assumptions were used as inputs to the Black-Scholes option valuation model in determining the estimated grant-date fair value of the Company’s stock options granted during the three months ended March 31, 2023 and 2022: For the three months 2023 2022 Exercise price $ 1.17 $ 6.26 Expected term (years) 5.5 6.0 Volatility (annual) 89.5 % 83.6 % Risk-free rate 4.0 % 1.9 % Dividend yield (per share) 0 % 0 % Total stock-based compensation expense recognized in the three months ended March 31, 2023 and 2022 was as follows (amounts in thousands): For the three months ended 2023 2022 Research and development $ 418 $ 3,484 General and administrative 657 1,774 Total stock-based compensation expense $ 1,075 $ 5,258

Net Loss per Share Applicable t

Net Loss per Share Applicable to Common Stockholders	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss per Share Applicable to Common Stockholders	NOTE 9. NET LOSS PER SHARE APPLICABLE TO COMMON STOCKHOLDERS Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted loss per common share is computed similarly to basic loss per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. The following table sets forth the computation of loss per share for the three months ended March 31, 2023 and 2022 (amounts in thousands, except per share number): For the three months ended 2023 2022 Numerator: Net loss $ (14,341 ) $ (16,424 ) Denominator: Weighted average common shares outstanding, basic and diluted 21,188 20,896 Net loss per common share, basic and diluted $ (0.68 ) $ (0.79 ) The following table presents the potential common stock outstanding that was excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive (amount in thousands): For the three months ended 2023 2022 Options outstanding 5,183 4,328 Warrants 3,295 3,295 Restricted stock 51 149 Total 8,529 7,772

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q S-X The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K 10-K
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, common stock warrant liabilities and stock-based compensation. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.
Reclassification	Reclassifications Certain previously reported financial information has been reclassified to conform to the current period presentation. The impact of reclassifications was not significant to the prior year’s overall presentation.
Concentration of Credit Risk	Concentrations of Credit Risk The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, development by the Company or its competitors of technological innovations, risks of failure of clinical studies, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to transition from preclinical manufacturing to commercial production of products. The Company’s future product candidates will require approvals from the FDA and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed, or the Company was unable to maintain approval for any product candidate, it could have a material adverse impact on the Company.
Cash and Cash Equivalents	Cash and Cash Equivalents Management considers all highly liquid investments with an insignificant interest rate risk and original maturities of three months or less to be cash equivalents.
Marketable Securities	Marketable Securities The Company generally invests its excess cash in money market funds and investment grade short-term to intermediate-term fixed income securities. Such investments are included in cash and cash equivalents, short-term marketable securities or long-term marketable securities on the condensed consolidated balance sheets. Marketable securities with a maturity date greater than 90 days and less than one year at each condensed consolidated balance sheet date are classified as short-term. Marketable securities with a maturity date greater than one year, if any, are classified as long-term. All of the Company’s marketable securities are considered available-for-sale The Company periodically evaluates whether declines in the fair values of its marketable securities below their amortized cost are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as the Company’s ability and intent to hold the marketable security until a forecasted recovery occurs. Additionally, the Company assesses whether it has plans to sell the marketable security or it is more likely than not it will be required to sell any marketable securities before recovery of its amortized cost basis. Factors considered include quoted market prices, recent financial results and operating trends, implied values from any recent transactions or offers of investee securities, credit quality of debt instrument issuers, other publicly available information that may affect the value of the marketable security, duration and severity of the decline in value, and the Company’s strategy and intentions for holding the marketable security.
German Grant Income	German Grant Income The Company recognizes grant income in the period when the underlying eligible expenses are incurred. The German government grant program provides for tax refunds or direct reimbursements of eligible research expenses of up to 1.0 million euros per year over a period of six years. The grant was approved in 2022 and is retroactive to 2021. Grant income for the three months ended March 31, 2023 has been recorded in other income (expense), net on the Company’s condensed consolidated statements of operations and comprehensive loss. The corresponding receivable is included within other current assets or other assets on the Company’s condensed consolidated balance sheet depending upon expectations for collection within 12 months of the balance sheet date. There have been no other material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Summary of Fair Value Assets Measured on Recurring Basis	The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (amounts in thousands): Fair Value Measured as of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Cash Equivalents: Money market funds $ 1,308 $ — $ — $ 1,308 Short-term marketable securities: Commercial paper — 10,086 — 10,086 U.S. government agency securities — 15,892 — 15,892 Corporate debt securities — 9,301 — 9,301 Total cash equivalents and marketable securities $ 1,308 $ 35,279 $ — $ 36,587 Fair Value Measured as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Cash Equivalents: Money market funds $ 2,266 $ — $ — $ 2,266 Commercial paper — 4,496 — 4,496 Corporate debt securities — 3,032 — 3,032 Short-term marketable securities: Commercial paper — 15,587 — 15,587 U.S. government treasuries 1,005 — — 1,005 U.S. government agency securities — 16,069 — 16,069 Corporate debt securities — 8,135 — 8,135 Total cash equivalents and marketable securities $ 3,271 $ 47,319 $ — $ 50,590
Summary of Liabilities Measured at Fair Value on Recurring Basis	Fair Value Measured as of Level 1 Level 2 Level 3 Total Liabilities: Common stock warrant liabilities $ — $ — $ 126 $ 126 Total fair value $ — $ — $ 126 $ 126 Fair Value Measured as of Level 1 Level 2 Level 3 Total Liabilities: Common stock warrant liabilities $ — $ — $ 144 $ 144 Total fair value $ — $ — $ 144 $ 144
Summary of Changes in Level 3 Warrant liabilities measured at fair value	The following table presents changes in Level 3 liabilities measured at fair value for the three-month period ended March 31, 2023. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs (in thousands). Warrant Balance – January 1, 2023 $ 144 C (18 ) Balance – March 31, 2023 $ 126
Private Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Summary of Fair Value of the Company's warrant liabilities	A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy as of March 31, 2023 and December 31, 2022 is as follows: As of As of Stock price $ 1.04 $ 1.02 Exercise price $ 11.50 $ 11.50 Option term (years) 2.7 3.0 Volatility (annual) 74.8 % 73.7 % Risk-free rate 3.8 % 4.1 % Dividend yield (per share) 0 % 0 %

Available-For-Sale Securities (

Available-For-Sale Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Summary of Available For Sale Securities	All marketable securities were considered available-for-sale March 31, 2023 Amortized Cost Gross Unrealized Gross Fair Value Assets: Short-term marketable securities: Commercial paper $ 10,094 $ — $ (8 ) $ 10,086 U.S. government agency securities 15,917 — (25 ) 15,892 Corporate debt securities 9,311 — (10 ) 9,301 Total marketable securities $ 35,322 $ — $ (43 ) $ 35,279 December 31, 2022 Amortized Cost Gross Unrealized Gross Fair Value Assets: Short-term marketable securities: Commercial paper $ 15,608 $ — $ (21 ) $ 15,587 U.S. government treasuries 1,007 — (2 ) 1,005 U.S. government agency securities 16,105 — (36 ) 16,069 Corporate debt securities 8,149 — (14 ) 8,135 Total marketable securities $ 40,869 $ — $ (73 ) $ 40,796

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Contractual Obligation, Fiscal Year Maturity [Abstract]
Summary of Quantitative Information About the Company's Operating Leases	The following summarizes quantitative information about the Company’s operating leases (amounts in thousands): For the three months 2023 2022 Lease cost Operating lease cost $ 299 $ 299 Variable lease cost — — Total operating lease expense $ 299 $ 299 Other information Operating cash flows from operating leases $ 317 $ 219 Right-of-use $ — $ — Weighted-average remaining lease term – operating leases 2.8 3.8 Weighted-average discount rate – operating leases 8 % 8 %
Summary of Future Minimum Lease Payments	As of March 31, 2023, future minimum payments during the remaining period and the next three years are as follows (in thousands): Remaining period ended December 31, 2023 $ 949 Year ended December 31, 2024 1,320 Year ended December 31, 2025 1,372 Year ended December 31, 2026 28 Total 3,669 Less present value discount (391 ) Operating lease liabilities included in the condensed consolidated balance sheet at March 31, 2023 $ 3,278

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Summary of Restricted Stock Activity	A summary of restricted stock activity for the three months ended March 31, 2023 and 2022 is presented below: Number of Shares Weighted Average Nonvested at January 1, 2023 67,002 $ 0.065 Vested (16,396 ) — Nonvested at March 31, 2023 50,606 $ 0.074 Number of Shares Weighted Average Nonvested at January 1, 2022 182,686 $ 0.045 Vested (33,203 ) — Nonvested at March 31, 2022 149,483 $ 0.049

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2023
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	Stock option activity under the 2020 Plan is as follows (in thousands, except per share amounts): Stock Options Weighted Average Weighted Aggregate Outstanding at January 1, 2023 4,353 $ 10.87 8.6 $ 125 Options granted 952 1.17 — — Options exercised (3 ) 0.82 — — Options cancelled (119 ) 16.56 — — Outstanding at March 31, 2023 5,183 $ 8.97 8.8 $ 137 Options vested and exercisable at March 31, 2023 2,265 $ 15.00 8.2 $ 22
Summary of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model	The following weighted average assumptions were used as inputs to the Black-Scholes option valuation model in determining the estimated grant-date fair value of the Company’s stock options granted during the three months ended March 31, 2023 and 2022: For the three months 2023 2022 Exercise price $ 1.17 $ 6.26 Expected term (years) 5.5 6.0 Volatility (annual) 89.5 % 83.6 % Risk-free rate 4.0 % 1.9 % Dividend yield (per share) 0 % 0 %
Summary of Stock Based Compensation Expense	Total stock-based compensation expense recognized in the three months ended March 31, 2023 and 2022 was as follows (amounts in thousands): For the three months ended 2023 2022 Research and development $ 418 $ 3,484 General and administrative 657 1,774 Total stock-based compensation expense $ 1,075 $ 5,258

Net Loss per Share Applicable_2

Net Loss per Share Applicable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Summary of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of loss per share for the three months ended March 31, 2023 and 2022 (amounts in thousands, except per share number): For the three months ended 2023 2022 Numerator: Net loss $ (14,341 ) $ (16,424 ) Denominator: Weighted average common shares outstanding, basic and diluted 21,188 20,896 Net loss per common share, basic and diluted $ (0.68 ) $ (0.79 )
Summary of Potential Common Stock Outstanding that was excluded from the Computation of Diluted Net Loss Per Share of Common Stock	The following table presents the potential common stock outstanding that was excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive (amount in thousands): For the three months ended 2023 2022 Options outstanding 5,183 4,328 Warrants 3,295 3,295 Restricted stock 51 149 Total 8,529 7,772

Nature of Business - Additional

Nature of Business - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Incorporation date	Dec. 19, 2018

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - 3 months ended Mar. 31, 2023 $ in Thousands, € in Millions	EUR (€)	USD ($)
Summary Of Significant Accounting Policies [Line Items]
Federal depository insurance coverage amount | $		$ 250,000
German grant income | €	€ 1

Bayer License Agreement - Addit

Bayer License Agreement - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended
	Jan. 05, 2021	Mar. 31, 2023
Bayer License Agreement [Line Items]
Date of licence agreement with Bayer		Oct. 07, 2020
Licence fee payable to Bayer		$ 1
Licence fee paid to Bayer	$ 5
Aggregate milestone payments Payable to Bayer		1,000
Maximum [Member]
Bayer License Agreement [Line Items]
Milestone payments payables per licenced product to Bayer		318
Minimum [Member]
Bayer License Agreement [Line Items]
Milestone payments payables per licenced product to Bayer		$ 110

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Fair Value Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	$ 36,587	$ 50,590
Cash Equivalents [Member] | Money market funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	1,308	2,266
Cash Equivalents [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		4,496
Cash Equivalents [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		3,032
Short-term marketable securities [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	10,086	15,587
Short-term marketable securities [Member] | U.S. government treasuries [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		1,005
Short-term marketable securities [Member] | U.S. government agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	15,892	16,069
Short-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	9,301	8,135
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	1,308	3,271
Level 1 [Member] | Cash Equivalents [Member] | Money market funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	1,308	2,266
Level 1 [Member] | Cash Equivalents [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		0
Level 1 [Member] | Cash Equivalents [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		0
Level 1 [Member] | Short-term marketable securities [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 1 [Member] | Short-term marketable securities [Member] | U.S. government treasuries [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		1,005
Level 1 [Member] | Short-term marketable securities [Member] | U.S. government agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 1 [Member] | Short-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	35,279	47,319
Level 2 [Member] | Cash Equivalents [Member] | Money market funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 2 [Member] | Cash Equivalents [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		4,496
Level 2 [Member] | Cash Equivalents [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		3,032
Level 2 [Member] | Short-term marketable securities [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	10,086	15,587
Level 2 [Member] | Short-term marketable securities [Member] | U.S. government treasuries [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		0
Level 2 [Member] | Short-term marketable securities [Member] | U.S. government agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	15,892	16,069
Level 2 [Member] | Short-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	9,301	8,135
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 3 [Member] | Cash Equivalents [Member] | Money market funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 3 [Member] | Cash Equivalents [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		0
Level 3 [Member] | Cash Equivalents [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		0
Level 3 [Member] | Short-term marketable securities [Member] | Commercial paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 3 [Member] | Short-term marketable securities [Member] | U.S. government treasuries [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities		0
Level 3 [Member] | Short-term marketable securities [Member] | U.S. government agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0	0
Level 3 [Member] | Short-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	$ 0	$ 0

Fair Value Measurement - Summ_2

Fair Value Measurement - Summary of Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Liabilities:
Liabilities fair value disclosure	$ 126	$ 144
Level 1 [Member]
Liabilities:
Liabilities fair value disclosure	0	0
Level 2 [Member]
Liabilities:
Liabilities fair value disclosure	0	0
Level 3 [Member]
Liabilities:
Liabilities fair value disclosure	126	144
Common Stock Warrant Liabilities Restates [Member]
Liabilities:
Liabilities fair value disclosure	126	144
Common Stock Warrant Liabilities Restates [Member] | Level 1 [Member]
Liabilities:
Liabilities fair value disclosure	0	0
Common Stock Warrant Liabilities Restates [Member] | Level 2 [Member]
Liabilities:
Liabilities fair value disclosure	0	0
Common Stock Warrant Liabilities Restates [Member] | Level 3 [Member]
Liabilities:
Liabilities fair value disclosure	$ 126	$ 144

Fair Value Measurement - Summ_3

Fair Value Measurement - Summary of Changes in Level 3 Warrant liabilities measured at fair value (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Marketable Securities, Unrealized Gain (Loss)
Level 3 [Member] | Warrant [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 144
Change in fair value	(18)
Ending balance	$ 126

Fair Value Measurement - Summ_4

Fair Value Measurement - Summary of Fair Value Of Private Warrants was Re-measured Based on the Assumptions (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2023 $ / shares	Mar. 31, 2022 $ / shares	Dec. 31, 2022 $ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price	$ 1.17	$ 6.26
Option term (years)	5 years 6 months	6 years
Volatility (annual)	89.50%	83.60%
Risk-free rate	4%	1.90%
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Dividend yield (per share)	0		0
Measurement Input, Share Price [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock price	$ 1.04		$ 1.02
Measurement Input, Exercise Price [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price	$ 11.5		$ 11.5
Measurement Input, Expected Term [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Option term (years)	2 years 8 months 12 days		3 years
Measurement Input, Price Volatility [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Volatility (annual)	74.80%		73.70%
Measurement Input, Risk Free Interest Rate [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk-free rate	3.80%		4.10%

Available-For-Sale Securities -

Available-For-Sale Securities - Summary of Available For Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 35,322	$ 40,869
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(43)	(73)
Fair Value	35,279	40,796
Short-term marketable securities [Member] | Commercial paper [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	10,094	15,608
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(8)	(21)
Fair Value	10,086	15,587
Short-term marketable securities [Member] | U.S. government treasuries [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost		1,007
Gross Unrealized Gain		0
Gross Unrealized Loss		(2)
Fair Value		1,005
Short-term marketable securities [Member] | U.S. government agency securities [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	15,917	16,105
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(25)	(36)
Fair Value	15,892	16,069
Short-term marketable securities [Member] | Corporate debt securities [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	9,311	8,149
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(10)	(14)
Fair Value	$ 9,301	$ 8,135

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Dec. 23, 2020	Jul. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Loss Contingencies [Line Items]
Duration of lease agreement	5 years
Date of lease Commencement	Jan. 01, 2021
Annual lease rent	$ 1,200		$ 299	$ 299
Operating lease liabilities			3,278
Operating Right of Use Assets			2,923		$ 3,064
Lessee Operating Sub Lease Term Of Contract		18 months
Lessee, operating sub lease, rent amount		$ 50,000
Sublease Income			150,000,000
Other Noncurrent Liabilities [Member]
Loss Contingencies [Line Items]
Lease Deposit Liability			$ 50,000

Commitments and Contingencies

Commitments and Contingencies - Summary of Quantitative Information About the Company's Operating Leases (Details) - USD ($) $ in Thousands		3 Months Ended
	Dec. 23, 2020	Mar. 31, 2023	Mar. 31, 2022
Lease cost
Operating lease cost		$ 299	$ 299
Variable lease cost		0	0
Total operating lease expense	$ 1,200	299	299
Operating cash flows from operating leases		317	219
Right-of-use assets obtained in exchange for operating lease liabilities		$ 0	$ 0
Weighted-average remaining lease term—operating leases		2 years 9 months 18 days	3 years 9 months 18 days
Weighted-average discount rate—operating leases		8%	8%

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Contractual Obligation, Fiscal Year Maturity [Abstract]
Remaining period ended December 31, 2023	$ 949
Year ended December 31, 2024	1,320
Year ended December 31, 2025	1,372
Year ended December 31, 2026	28
Total	3,669
Less present value discount	(391)
Operating lease liabilities included in the Consolidated Balance Sheet at December 31, 2022	$ 3,278

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Shares	67,002	182,686
Vested, Shares	(16,396)	(33,203)
Ending balance, Shares	50,606	149,483
Beginning balance, Weighted Average	$ 0.065	$ 0.045
Vested, Weighted Average	0	0
Ending balance, Weighted Average	$ 0.074	$ 0.049

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Preferred stock shares authorized	30,000,000	30,000,000
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred stock shares outstanding	0	0
Common stock shares authorized	120,000,000	120,000,000
Common stock par value	$ 0.0001	$ 0.0001
Unrecognized stock based compensation	$ 4,100
Amotization period of unrecognized stock based compensation	9 months 18 days
Common stock shares outstanding	21,245,842	21,242,884
Private Placement [Member]
Class Of Stock [Line Items]
Shares issued price per warrant	$ 11.5
Public Warrant [Member]
Class Of Stock [Line Items]
No of Warrents outstanding	0
Private Warrants [Member]
Class Of Stock [Line Items]
No of Warrents outstanding	3,295,000
Common stock conversion	each private warrant is exercisable for one share of common stock at an exercise price of $11.50
Class of warrant or right redemption threshold trading days	20 days
Class of warrant or right redemption threshold consecutive trading days	30 days
Warrant expiration term	5 years
Private Warrants [Member] | Rosedale Park LLC [Member]
Class Of Stock [Line Items]
Class of warrents exercised	500,000
Warrants expiration date	Mar. 05, 2025
Private Warrants [Member] | LifeSci Holdings LLC [Member]
Class Of Stock [Line Items]
Class of warrents exercised	500,000
Restricted Stock [Member]
Class Of Stock [Line Items]
Unrecognized stock based compensation	$ 3,900
Amotization period of unrecognized stock based compensation	1 year 2 months 12 days
Common Stock [Member] | Private Warrants [Member]
Class Of Stock [Line Items]
Share redemption trigger price	$ 20

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation | $	$ 4.1
Amotization period of unrecognized stock based compensation	9 months 18 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period	3 years
Twenty Thousand Twenty Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for issuance	5,600,152
Number of shares available for grant	417,500

Equity Incentive Plans - Schedu

Equity Incentive Plans - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Stock Options	4,353,000
Options granted, Stock Options	952,000
Options exercised, Stock Options	(3,000)
Options cancelled, Stock Options	(119,000)
Outstanding, Stock Options	5,183,000
Options vested and exercisable, Stock Options	2,265,000
Outstanding, Weighted Average Exercise Price	$ 10.87
Options granted, Weighted Average Exercise Price	1.17
Options exercised, Weighted Average Exercise Price	0.82
Options cancelled, Weighted Average Exercise Price	16.56
Outstanding, Weighted Average Exercise Price	8.97
Options vested and exercisable, Weighted Average Exercise Price (in years)	$ 15
Outstanding, Outstanding, Weighted Average Remaining Contractual Life (in years)	8 years 9 months 18 days	8 years 7 months 6 days
Outstanding, Outstanding, Weighted Average Remaining Contractual Life (in years)	8 years 9 months 18 days	8 years 7 months 6 days
Options vested and exercisable, Weighted Average Remaining Contractual Life (in years)	8 years 2 months 12 days
Outstanding, Aggregate Intrinsic Value	$ 125
Outstanding, Aggregate Intrinsic Value	137
Options vested and exercisable, Aggregate Intrinsic Value	$ 22

Equity Incentive Plans - Sche_2

Equity Incentive Plans - Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Exercise price	$ 1.17	$ 6.26
Expected term (years)	5 years 6 months	6 years
Volatility (annual)	89.50%	83.60%
Risk-free rate	4%	1.90%
Dividend yield (per share)	0%	0%

Equity Incentive Plans - Sche_3

Equity Incentive Plans - Schedule of Employee Service Share Based Compensation Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,075	$ 5,258
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	418	3,484
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 657	$ 1,774

Net Loss per Share Applicable_3

Net Loss per Share Applicable to Common Stockholders - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (14,341)	$ (16,424)
Denominator:
Weighted Average Number of Shares Outstanding, Basic	21,188	20,896
Weighted Average Number of Shares Outstanding, Diluted	21,188	20,896
Earnings Per Share, Basic	$ (0.68)	$ (0.79)
Earnings Per Share, Diluted	$ (0.68)	$ (0.79)

Net Loss per Share Applicable_4

Net Loss per Share Applicable to Common Stockholders - Schedule of Potential Common Stock Outstanding that was excluded from the Computation of Diluted Net Loss Per Share of Common Stock (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,529	7,772
Option Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,183	4,328
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,295	3,295
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	51	149