Aerovate Therapeutics (AVTE) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-40544
Entity Registrant Name	AEROVATE THERAPEUTICS, INC.
Entity Central Index Key	0001798749
Entity Tax Identification Number	83-1377888
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	930 Winter Street
Entity Address, Address Line Two	Suite M-500
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02116
City Area Code	(617)
Local Phone Number	443-2400
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	AVTE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,410,393

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 180,878	$ 4,573
Prepaid expenses and other current assets	2,224	103
Total current assets	183,102	4,676
Property and equipment, net	162	39
Operating lease right-of-use assets	583
Other long-term assets	278
Total assets	184,125	4,715
Current liabilities:
Accounts payable (including related party amounts of $9 and $6, respectively)	2,555	618
Accrued and other current liabilities (Note 3)	1,123	1,156
Operating lease liabilities	147
Total current liabilities	3,825	1,774
Operating lease liabilities, net of current portion	452
Total liabilities	4,277	1,774
Redeemable convertible preferred stock, value
Stockholders’ equity (deficit):
Common stock, $0.0001 par value; 150,000,000 and 50,000,000 shares authorized at September 30, 2021 and December 31, 2020, respectively; 24,410,393 and 243,076 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	2
Additional paid-in capital	208,015	63
Accumulated deficit	(28,169)	(13,407)
Total stockholders’ equity (deficit)	179,848	(13,344)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	184,125	4,715
Series A Redeemable Convertible Preferred Stock [Member]
Current liabilities:
Redeemable convertible preferred stock, value		12,285
Series Seed Redeemable Convertible Preferred Stock [Member]
Current liabilities:
Redeemable convertible preferred stock, value		$ 4,000

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts payable, related party	$ 9	$ 6
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	50,000,000
Common stock, shares issued	24,410,393	243,076
Common stock, shares outstanding	24,410,393	243,076
Series A Redeemable Convertible Preferred Stock [Member]
Redeemable convertible preferred stock, par value	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, shares authorized	0	40,052,154
Redeemable convertible preferred stock, shares issued	0	6,489,534
Redeemable convertible preferred stock, shares outstanding	0	6,489,534
Series Seed Redeemable Convertible Preferred Stock [Member]
Redeemable convertible preferred stock, par value	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, shares authorized	0	4,000,000
Redeemable convertible preferred stock, shares issued	0	4,000,000
Redeemable convertible preferred stock, shares outstanding	0	4,000,000

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating expenses:
Research and development (includes related party amounts of $13, $23, $68 and $59, respectively)	$ 3,418	$ 1,966	$ 9,941	$ 4,643
General and administrative (includes related party amounts of $3, $8, $14 and $23, respectively)	2,782	277	4,813	583
Total operating expenses	6,200	2,243	14,754	5,226
Loss from operations	(6,200)	(2,243)	(14,754)	(5,226)
Other income (expense):
Interest income (expense)	16		18	(75)
Change in fair value of convertible promissory notes		(64)		(644)
Other expense			(4)
Total other income (expense)	16	(64)	14	(719)
Net loss and comprehensive loss	$ (6,184)	$ (2,307)	$ (14,740)	$ (5,945)
Net loss per share, basic and diluted	$ (0.26)	$ (10.13)	$ (1.80)	$ (25.20)
Weighted-average shares of common stock outstanding, basic and diluted	23,885,017	242,901	8,180,359	241,949

Condensed Statements of Opera_2

Condensed Statements of Operations and Comprehensive Loss (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Research and development, related party	$ 13	$ 23	$ 68	$ 59
General and administrative, related party	$ 3	$ 8	$ 14	$ 23

Condensed Statements of Redeema

Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]Series A Redeemable Convertible Preferred Stock [Member]	Preferred Stock [Member]Series Seed Redeemable Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, shares at Dec. 31, 2019		4,000,000
Beginning balance at Dec. 31, 2019		$ 4,000
Beginning balance, shares at Dec. 31, 2019			241,467
Beginning balance at Dec. 31, 2019					$ (3,643)	$ (3,643)
Stock based compensation				7		7
Net loss					(1,436)	(1,436)
Ending balance, shares at Mar. 31, 2020		4,000,000
Ending balance at Mar. 31, 2020		$ 4,000
Ending balance, shares at Mar. 31, 2020			241,467
Ending balance at Mar. 31, 2020				7	(5,079)	(5,072)
Beginning balance, shares at Dec. 31, 2019		4,000,000
Beginning balance at Dec. 31, 2019		$ 4,000
Beginning balance, shares at Dec. 31, 2019			241,467
Beginning balance at Dec. 31, 2019					(3,643)	(3,643)
Net loss						(5,945)
Ending balance, shares at Sep. 30, 2020	6,489,534	4,000,000
Ending balance at Sep. 30, 2020	$ 12,285	$ 4,000
Ending balance, shares at Sep. 30, 2020			243,076
Ending balance at Sep. 30, 2020				39	(9,741)	(9,702)
Beginning balance, shares at Mar. 31, 2020		4,000,000
Beginning balance at Mar. 31, 2020		$ 4,000
Beginning balance, shares at Mar. 31, 2020			241,467
Beginning balance at Mar. 31, 2020				7	(5,079)	(5,072)
Stock based compensation				6		6
Net loss					(2,202)	(2,202)
Ending balance, shares at Jun. 30, 2020		4,000,000
Ending balance at Jun. 30, 2020		$ 4,000
Ending balance, shares at Jun. 30, 2020			241,467
Ending balance at Jun. 30, 2020				13	(7,281)	(7,268)
Issuance of Series A redeemable convertible preferred stock upon conversion of December 2019 convertible promissory notes to related party	$ 3,219
Issuance of Series A redeemable convertible preferred stock upon conversion of December 2019 convertible promissory notes to related party, Shares	1,700,343
Issuance of Series A redeemable convertible preferred stock upon conversion of July 2020 convertible promissory notes to related party	$ 2,500
Issuance of Series A redeemable convertible preferred stock upon conversion of July 2020 convertible promissory notes to related party, Shares	1,320,655
Issuance of Series A redeemable convertible preferred stock at $1.893 per share, net of issuance costs of $153	$ 6,413
Issuance of redeemable convertible preferred stock, Shares	3,468,536
Accretion of Series A redeemable convertible preferred stock to redemption value	$ 153				(153)	(153)
Issuance of common stock upon exercise of stock options				5		5
Stock based compensation				21		21
Net loss					(2,307)	(2,307)
Ending balance, shares at Sep. 30, 2020	6,489,534	4,000,000
Ending balance at Sep. 30, 2020	$ 12,285	$ 4,000
Ending balance, shares at Sep. 30, 2020			243,076
Ending balance at Sep. 30, 2020				39	(9,741)	$ (9,702)
Issuance of common stock upon exercise of stock options, Shares						1,609
Beginning balance, shares at Dec. 31, 2020	6,489,534	4,000,000
Beginning balance at Dec. 31, 2020	$ 12,285	$ 4,000
Beginning balance, shares at Dec. 31, 2020			243,076
Beginning balance at Dec. 31, 2020				63	(13,407)	$ (13,344)
Issuance of Series A redeemable convertible preferred stock upon conversion of December 2019 convertible promissory notes to related party, Shares
Issuance of Series A redeemable convertible preferred stock upon conversion of July 2020 convertible promissory notes to related party, Shares
Issuance of Series A redeemable convertible preferred stock at $1.893 per share, net of issuance costs of $153	$ 7,983
Issuance of redeemable convertible preferred stock, Shares	4,224,274
Accretion of Series A redeemable convertible preferred stock to redemption value	$ 13				(13)	(13)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, Shares
Issuance of common stock upon initial public offering, net of issuance costs
Issuance of common stock upon exercise of stock options
Stock based compensation				23		23
Net loss					(2,781)	(2,781)
Ending balance, shares at Mar. 31, 2021	10,713,808	4,000,000
Ending balance at Mar. 31, 2021	$ 20,281	$ 4,000
Ending balance, shares at Mar. 31, 2021			243,076
Ending balance at Mar. 31, 2021				86	(16,201)	(16,115)
Beginning balance, shares at Dec. 31, 2020	6,489,534	4,000,000
Beginning balance at Dec. 31, 2020	$ 12,285	$ 4,000
Beginning balance, shares at Dec. 31, 2020			243,076
Beginning balance at Dec. 31, 2020				63	(13,407)	(13,344)
Net loss						(14,740)
Ending balance, shares at Sep. 30, 2021
Ending balance at Sep. 30, 2021
Ending balance, shares at Sep. 30, 2021			24,410,393
Ending balance at Sep. 30, 2021			$ 2	208,015	(28,169)	$ 179,848
Issuance of common stock upon exercise of stock options, Shares
Beginning balance, shares at Mar. 31, 2021	10,713,808	4,000,000
Beginning balance at Mar. 31, 2021	$ 20,281	$ 4,000
Beginning balance, shares at Mar. 31, 2021			243,076
Beginning balance at Mar. 31, 2021				86	(16,201)	$ (16,115)
Issuance of Series A redeemable convertible preferred stock at $1.893 per share, net of issuance costs of $153	$ 55,529
Issuance of redeemable convertible preferred stock, Shares	29,338,346
Accretion of Series A redeemable convertible preferred stock to redemption value	$ 9				(9)	(9)
Stock based compensation				321		321
Net loss					(5,775)	(5,775)
Ending balance, shares at Jun. 30, 2021	40,052,154	4,000,000
Ending balance at Jun. 30, 2021	$ 75,819	$ 4,000
Ending balance, shares at Jun. 30, 2021			243,076
Ending balance at Jun. 30, 2021				407	(21,985)	(21,578)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	$ (75,819)	$ (4,000)	$ 1	79,818		79,819
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, Shares	(40,052,154)	(4,000,000)	14,182,854
Issuance of common stock upon initial public offering, net of issuance costs			$ 1	126,945		126,946
Stock based compensation				845		845
Net loss					(6,184)	(6,184)
Issuance of common stock upon initial public offering, net of issuance costs, Shares			9,984,463
Ending balance, shares at Sep. 30, 2021
Ending balance at Sep. 30, 2021
Ending balance, shares at Sep. 30, 2021			24,410,393
Ending balance at Sep. 30, 2021			$ 2	$ 208,015	$ (28,169)	$ 179,848

Condensed Statements of Redee_2

Condensed Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) (Parenthetical) - Preferred Stock [Member] - Series A Redeemable Convertible Preferred Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020
Share price	$ 1.893	$ 1.893	$ 1.893
Issuance costs	$ 9	$ 13	$ 153

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flow from operating activities:
Net loss	$ (14,740)	$ (5,945)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation expense	1,189	34
Depreciation expense	7
Non-cash interest expense		75
Change in fair value of convertible promissory notes to related party		644
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(2,121)	(235)
Other long-term assets	(278)
Accounts payable	1,654	30
Accrued and other current liabilities	(33)	422
Operating lease asset and liability, net	16
Net cash used in operating activities	(14,306)	(4,975)
Cash flow from investing activities:
Purchases of property and equipment	(96)
Net cash used in investing activities	(96)
Cash flow from financing activities:
Proceeds from sale of Series A redeemable convertible preferred stock, net of issuance costs	63,512	6,413
Proceeds from issuance of convertible promissory notes to related party		2,500
Proceeds from exercise of stock options		5
Proceeds from issuance of common stock, net of issuance costs	127,195
Net cash provided by financing activities	190,707	8,918
Net increase in cash	176,305	3,943
Cash and cash equivalents at the beginning of the year	4,573	3,514
Cash and cash equivalents at the end of the period	180,878	7,457
Supplemental disclosure of noncash investing and financing activities:
Right-of-use asset obtained in exchange for operating lease liability	583
Deferred offering costs included in accounts payable	250
Purchases of property and equipment in accounts payable	34
Conversion of convertible promissory notes to related party to Series A redeemable convertible preferred stock		(3,219)
Conversion of convertible promissory notes to related party to Series A redeemable convertible preferred stock		$ (2,500)

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	(1) Organization and Nature of Operations (a) Organization and Nature of Operations Aerovate Therapeutics Inc. (“Aerovate” or the “Company”) was incorporated in the state of Delaware in July 2018 and is headquartered in Boston, Massachusetts. The Company is a biotechnology company that is focused on the development of AV-101, a novel treatment for pulmonary arterial hypertension (“PAH”). The Company anticipates initiating a Phase 2b/3 trial of AV-101 in PAH patients in the second half of 2021. (b) Initial Public Offering On July 2, 2021, the Company completed its initial public offering (“IPO”). The Company’s Registration Statement on Form S-1 (File No. 333-256949) relating to the IPO was declared effective by the Securities and Exchange Commission (“SEC”) on June 29, 2021. The shares began trading on The Nasdaq Global Market on June 30, 2021. The Company issued 9,984,463 1,302,321 14.00 14,182,854 126.9 (c) Liquidity and Going Concern Since inception, the Company has devoted substantially all of its resources to research and development activities, business planning, establishing and maintaining its intellectual property portfolio, hiring personnel, raising capital, and providing general and administrative support for these operations and has not realized revenues from its planned principal operations. The Company has incurred losses and negative cash flows from operations since inception. In addition, the Company expects to incur substantial operating losses for the next several years as it continues its research and development activities. As of September 30, 2021, the Company had cash and cash equivalents of $ 180.9 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 debt or equity financings or other arrangements to fund operations. Management believes that the Company’s current cash and cash equivalents 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	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	(2) Basis of Presentation and Significant Accounting Policies (a) Basis of Presentation The accompanying unaudited condensed financial statements as of September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020 have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States of America for interim financial information and pursuant to Article 10 of Regulation S-X of the Securities Act of 1933, as amended (the Securities Act). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These unaudited condensed financial statements include only normal and recurring adjustments that the Company believes are necessary to fairly state the Company’s financial position and the results of its operations and cash flows. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full fiscal year or any subsequent interim period. The condensed balance sheet as of December 31, 2020 has been derived from the audited financial statements at that date but does not include all disclosures required by GAAP for complete financial statements. Because all of the disclosures required by GAAP for complete financial statements are not included herein, these unaudited condensed financial statements and the notes accompanying them should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2020. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). (b) Reverse Stock Split On June 22, 2021, the Company effected a 1-for-3.1060103 (c) Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. For operating leases with an initial term greater than 12 months, the Company recognizes operating lease right-of-use assets and operating lease liabilities based on the present value of lease payments over the lease term at the commencement date. Operating lease right-of-use assets are comprised of the lease liability plus any lease payments made and excludes lease incentives. Lease terms include options to renew or terminate the lease when the Company is reasonably certain that the renewal option will be exercised or when it is reasonably certain that the termination option will not be exercised. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in similar economic environments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected the practical expedient to not separate lease and non-lease components. (d) Deferred Offering Costs The Company capitalizes within other long-term assets certain legal, accounting and other third-party fees that are directly related to the Company’s in-process equity financings, including the planned initial public offering, until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction of the proceeds received as a result of the offering. Should a planned equity financing be abandoned, terminated or significantly delayed, the deferred offering costs are immediately written off to operating expenses. As of September 30, 2021 and December 31, 2020, deferred offering costs of $ 0 (e) Net Loss Per Share The two-class method is applicable because the Series A redeemable convertible preferred stock meets the definition of a participating security. Basic net loss per share is calculated by dividing the net loss and increases in the carrying amount of redeemable preferred stock by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss and increases in the carrying amount of redeemable preferred stock by the weighted average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities include outstanding stock options under the Company’s equity incentive plan and the redeemable convertible preferred stock, which 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 as the inclusion of the potentially dilutive securities would be anti-dilutive. The following table summarizes the Company’s net loss per share (in thousands, except share and per share amounts): Schedule of Net Loss Per Share Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net loss and comprehensive loss $ (6,184 ) $ (2,307 ) $ (14,740 ) $ (5,945 ) Accretion of Series A redeemable convertible preferred stock to redemption value - (153 ) (22 ) (153 ) Net loss and comprehensive loss available to common stockholders $ (6,184 ) $ (2,460 ) $ (14,762 ) $ (6,098 ) Denominator: Weighted-average common stock outstanding, basic and diluted 23,885,017 242,901 8,180,359 241,949 Net loss per share, basic and diluted $ (0.26 ) $ (10.13 ) $ (1.80 ) $ (25.20 ) Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would have had an anti-dilutive effect are as follows (in common stock equivalent shares): Schedule of Potentially Dilutive Securities Not Included in the Calculation of Diluted Net Loss Per Share As of September 30, 2021 2020 Series Seed redeemable convertible preferred stock - 1,287,825 Series A redeemable convertible preferred stock - 2,089,341 Options to purchase common stock 2,800,574 221,064 2,800,574 3,598,230

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Accrued And Other Current Liabilities
Accrued and Other Current Liabilities	(3) Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following (in thousands): Schedule of Accrued and Other Current Liabilities September 30, December 31, 2021 2020 Accrued research and development $ 578 $ 946 Accrued payroll and other employee benefits 365 192 Other 180 18 Total accrued and other current liabilities $ 1,123 $ 1,156

Convertible Promissory Notes

Convertible Promissory Notes	9 Months Ended
	Sep. 30, 2021
Convertible Promissory Notes
Convertible Promissory Notes	(4) Convertible Promissory Notes On December 30, 2019, the Company issued convertible promissory notes (the “2019 Notes”) totaling $ 2.5 6% 80% 1.893 0.6 0.1 On July 13, 2020, the Company issued convertible promissory notes (the “2020 Notes”) totaling $ 2.5 3% October 31, 2020 no

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(5) Fair Value of Financial Instruments The cash and cash equivalents balance as of September 30, 2021 consisted of cash in the amount of $ 1.6 179.3 The following table provides a reconciliation of all liabilities measured at fair value using Level 3 significant unobservable inputs (in thousands): Summary of Reconciliation of All Liabilities Measured at Fair Value Using Level 3 Significant Unobservable Inputs Convertible Promissory Notes Balance at December 31, 2019 $ 2,500 Issuance of convertible promissory notes, related party $ 2,500 Change in fair value of convertible promissory notes, related party 644 Exchange of convertible promissory notes (Note 4) (5,644 ) Balance at September 30, 2020 $ - There are no

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders’ Equity (Deficit)	(6) Stockholders’ Equity (Deficit) Under the Amended and Restated Articles of Incorporation dated August 3, 2020, the Company had a total of 94,052,154 50,000,000 0.0001 44,052,154 0.0001 4,000,000 40,052,154 In connection with the Reverse Stock Split on June 22, 2021, the Company filed a certificate of amendment to its certificate of incorporation, which provided 150,000,000 0.0001 10,000,000 0.0001 (a) Redeemable Convertible Preferred Stock In August 2018, the Company sold to RA Capital Health Care Fund, L.P. an aggregate of 4,000,000 1.00 4.0 3,468,536 6.6 3,020,998 The Stock Purchase Agreement contained provisions that potentially obligated the Company to sell, outside of its control, an additional 33,562,620 1.893 63.5 On February 1, 2021, upon the completion of the First Milestone Closing, the Company sold 4,224,274 8.0 29,338,346 55.5 Immediately prior to the closing of the Company’s IPO on July 2, 2021, all outstanding shares of the Company’s redeemable convertible preferred stock converted into 14,182,854 (b) Common Stock In August 2018, the Company issued 241,467 0.0012 9,984,463 14,182,854 The holders of the common stock are entitled to one vote for each share of common stock held at all meetings of stockholders. As of September 30, 2021, the Company had reserved the following shares of common stock, on an as-converted basis, for future issuance: Schedule of Common Stock Shares Reserved for On and As-converted Basis, for Future Issuance September 30, 2021 Common stock options granted and outstanding 2,800,574 Reserved for future option grants 1,738,380 Reserved for future ESPP issuances 230,000 Total 4,768,954

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	(7) Share-Based Compensation (a) Stock Option Plan The Company’s 2021 Stock Option and Incentive Plan (the “2021 Plan”) was adopted by the Company’s board of directors and approved by the Company’s stockholders in June 2021 and became effective as of June 29, 2021. Upon the effectiveness of the 2021 Plan, the Company’s 2018 Equity Incentive Plan (the “2018 Plan”) was terminated and no further grants may be made thereunder. The Company’s 2021 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. A total of 2,600,000 4% 861,620 1,738,380 The options that are granted under the 2021 Plan and the 2018 Plan are exercisable at various dates as determined upon grant and terminate within 10 three to four years The following table summarizes the option activity under the 2021 Plan and 2018 Plan for the nine months ended September 30, 2021: Summary of Option Activity Under 2021 Plan and 2018 Plan Options Weighted-Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Vested and expected to vest at December 31, 2020 229,105 $ 1.74 9.69 $ - Granted 2,571,469 $ 6.15 9.59 - Exercised - Cancelled/Forfeited - Outstanding at September 30, 2021 2,800,574 $ 5.79 9.54 $ 42,442 Vested and exercisable at September 30, 2021 172,729 $ 4.35 9.27 $ 2,873 Vested and expected to vest at September 30, 2021 2,800,574 $ 5.79 9.54 $ 42,442 All exercisable options are vested and all outstanding options are vested or expected to vest. (b) Employee Stock Purchase Plan The Company’s Employee Stock Purchase Plan (the “ESPP”) was adopted by the Company’s board of directors and stockholders in June 2021 and became effective upon the consummation of the IPO. A total of 230,000 15% 85% no (c) Share-Based Compensation Expense The Company estimated the fair value of stock options using the Black-Scholes valuation model. The Company accounts for any forfeitures of options when they occur. Previously recognized compensation expense for an award is reversed in the period that the award is forfeited. The fair value of stock options was estimated using the following assumptions: Summary of Fair Value of Stock Options Assumptions Three Months Ended Nine Months Ended 2021 2020 2021 2020 Expected term (in years) 5.2 5.8 5.5 6.1 5.2 6.1 5.5 6.1 Expected volatility 69.4 69.5 % 71.4 72.8 % 68.7 69.6 % 68.0 79.4 % Risk-free interest rate 0.9 1.1 % 0.4 % 0.9 1.2 % 0.4 - 1.5 % Expected dividend - - - - Stock-based compensation expense recognized for stock option grants has been reported in the statements of operations and comprehensive loss as follows (in thousands): Summary of Stock-Based Compensation Expense Recognized for Stock Option Grants Three Months Ended Nine Months Ended 2021 2020 2021 2020 Research and development $ 134 $ 15 $ 247 $ 17 General and administrative 711 6 942 17 Total $ 845 $ 21 $ 1,189 $ 34 As of September 30, 2021, there was approximately $ 8.8 3.5

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	(8) Related Party Transactions Services Agreement In August 2018, the Company entered into a services agreement (“Services Agreement”) with Carnot, LLC (“Carnot”), an entity owned and controlled by RA Capital Management, LLC under which Carnot provides research and other services to the Company. RA Capital Management, LLC is a related party due to its equity ownership of the Company. The Company pays Carnot for services performed and costs incurred. The Services Agreement is for a term of two years In July 2019, the Services Agreement with Carnot was amended whereby research and other services are now performed by Carnot Pharma, LLC (“Carnot Pharma”), an entity owned and controlled by RA Capital Management, LLC, and the term was updated to the later of (i) two years Expenses incurred by the Company under the Services Agreement with Carnot Pharma totaled $ 17,000 31,000 0.1 9,000 6,000

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(9) Commitments and Contingencies In August 2021, the Company entered into a lease agreement (the “Waltham Lease”) for approximately 5,000 The Waltham Lease has a term of thirty-nine months (“Lease Term”), unless extended or earlier terminated. three years 18,000 2 The total operating lease expense for the three and nine months ended September 30, 2021 was $ 16,000 As of September 30, 2021, the future minimum annual lease payments under the operating lease was as follows (in thousands): Schedule of Future Minimum Annual Lease Payments for Operating Leases 2021 $ 18 2022 216 2023 221 2024 206 Total operating lease payments 661 Less: Amount representing interest (62 ) Total operating lease liabilities $ 599 Weighted-average remaining lease term (in years) 3.2 Weighted-average incremental borrowing rate 6 %

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation The accompanying unaudited condensed financial statements as of September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020 have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States of America for interim financial information and pursuant to Article 10 of Regulation S-X of the Securities Act of 1933, as amended (the Securities Act). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These unaudited condensed financial statements include only normal and recurring adjustments that the Company believes are necessary to fairly state the Company’s financial position and the results of its operations and cash flows. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full fiscal year or any subsequent interim period. The condensed balance sheet as of December 31, 2020 has been derived from the audited financial statements at that date but does not include all disclosures required by GAAP for complete financial statements. Because all of the disclosures required by GAAP for complete financial statements are not included herein, these unaudited condensed financial statements and the notes accompanying them should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2020. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”).
Reverse Stock Split	(b) Reverse Stock Split On June 22, 2021, the Company effected a 1-for-3.1060103
Leases	(c) Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. For operating leases with an initial term greater than 12 months, the Company recognizes operating lease right-of-use assets and operating lease liabilities based on the present value of lease payments over the lease term at the commencement date. Operating lease right-of-use assets are comprised of the lease liability plus any lease payments made and excludes lease incentives. Lease terms include options to renew or terminate the lease when the Company is reasonably certain that the renewal option will be exercised or when it is reasonably certain that the termination option will not be exercised. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in similar economic environments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected the practical expedient to not separate lease and non-lease components.
Deferred Offering Costs	(d) Deferred Offering Costs The Company capitalizes within other long-term assets certain legal, accounting and other third-party fees that are directly related to the Company’s in-process equity financings, including the planned initial public offering, until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction of the proceeds received as a result of the offering. Should a planned equity financing be abandoned, terminated or significantly delayed, the deferred offering costs are immediately written off to operating expenses. As of September 30, 2021 and December 31, 2020, deferred offering costs of $ 0
Net Loss Per Share	(e) Net Loss Per Share The two-class method is applicable because the Series A redeemable convertible preferred stock meets the definition of a participating security. Basic net loss per share is calculated by dividing the net loss and increases in the carrying amount of redeemable preferred stock by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss and increases in the carrying amount of redeemable preferred stock by the weighted average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities include outstanding stock options under the Company’s equity incentive plan and the redeemable convertible preferred stock, which 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 as the inclusion of the potentially dilutive securities would be anti-dilutive. The following table summarizes the Company’s net loss per share (in thousands, except share and per share amounts): Schedule of Net Loss Per Share Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net loss and comprehensive loss $ (6,184 ) $ (2,307 ) $ (14,740 ) $ (5,945 ) Accretion of Series A redeemable convertible preferred stock to redemption value - (153 ) (22 ) (153 ) Net loss and comprehensive loss available to common stockholders $ (6,184 ) $ (2,460 ) $ (14,762 ) $ (6,098 ) Denominator: Weighted-average common stock outstanding, basic and diluted 23,885,017 242,901 8,180,359 241,949 Net loss per share, basic and diluted $ (0.26 ) $ (10.13 ) $ (1.80 ) $ (25.20 ) Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would have had an anti-dilutive effect are as follows (in common stock equivalent shares): Schedule of Potentially Dilutive Securities Not Included in the Calculation of Diluted Net Loss Per Share As of September 30, 2021 2020 Series Seed redeemable convertible preferred stock - 1,287,825 Series A redeemable convertible preferred stock - 2,089,341 Options to purchase common stock 2,800,574 221,064 2,800,574 3,598,230

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Net Loss Per Share	The following table summarizes the Company’s net loss per share (in thousands, except share and per share amounts): Schedule of Net Loss Per Share Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net loss and comprehensive loss $ (6,184 ) $ (2,307 ) $ (14,740 ) $ (5,945 ) Accretion of Series A redeemable convertible preferred stock to redemption value - (153 ) (22 ) (153 ) Net loss and comprehensive loss available to common stockholders $ (6,184 ) $ (2,460 ) $ (14,762 ) $ (6,098 ) Denominator: Weighted-average common stock outstanding, basic and diluted 23,885,017 242,901 8,180,359 241,949 Net loss per share, basic and diluted $ (0.26 ) $ (10.13 ) $ (1.80 ) $ (25.20 )
Schedule of Potentially Dilutive Securities Not Included in the Calculation of Diluted Net Loss Per Share	Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would have had an anti-dilutive effect are as follows (in common stock equivalent shares): Schedule of Potentially Dilutive Securities Not Included in the Calculation of Diluted Net Loss Per Share As of September 30, 2021 2020 Series Seed redeemable convertible preferred stock - 1,287,825 Series A redeemable convertible preferred stock - 2,089,341 Options to purchase common stock 2,800,574 221,064 2,800,574 3,598,230

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Accrued And Other Current Liabilities
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following (in thousands): Schedule of Accrued and Other Current Liabilities September 30, December 31, 2021 2020 Accrued research and development $ 578 $ 946 Accrued payroll and other employee benefits 365 192 Other 180 18 Total accrued and other current liabilities $ 1,123 $ 1,156

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Reconciliation of All Liabilities Measured at Fair Value Using Level 3 Significant Unobservable Inputs	The following table provides a reconciliation of all liabilities measured at fair value using Level 3 significant unobservable inputs (in thousands): Summary of Reconciliation of All Liabilities Measured at Fair Value Using Level 3 Significant Unobservable Inputs Convertible Promissory Notes Balance at December 31, 2019 $ 2,500 Issuance of convertible promissory notes, related party $ 2,500 Change in fair value of convertible promissory notes, related party 644 Exchange of convertible promissory notes (Note 4) (5,644 ) Balance at September 30, 2020 $ -

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit) (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Common Stock Shares Reserved for On and As-converted Basis, for Future Issuance	As of September 30, 2021, the Company had reserved the following shares of common stock, on an as-converted basis, for future issuance: Schedule of Common Stock Shares Reserved for On and As-converted Basis, for Future Issuance September 30, 2021 Common stock options granted and outstanding 2,800,574 Reserved for future option grants 1,738,380 Reserved for future ESPP issuances 230,000 Total 4,768,954

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Option Activity Under 2021 Plan and 2018 Plan	The following table summarizes the option activity under the 2021 Plan and 2018 Plan for the nine months ended September 30, 2021: Summary of Option Activity Under 2021 Plan and 2018 Plan Options Weighted-Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Vested and expected to vest at December 31, 2020 229,105 $ 1.74 9.69 $ - Granted 2,571,469 $ 6.15 9.59 - Exercised - Cancelled/Forfeited - Outstanding at September 30, 2021 2,800,574 $ 5.79 9.54 $ 42,442 Vested and exercisable at September 30, 2021 172,729 $ 4.35 9.27 $ 2,873 Vested and expected to vest at September 30, 2021 2,800,574 $ 5.79 9.54 $ 42,442
Summary of Fair Value of Stock Options Assumptions	Summary of Fair Value of Stock Options Assumptions Three Months Ended Nine Months Ended 2021 2020 2021 2020 Expected term (in years) 5.2 5.8 5.5 6.1 5.2 6.1 5.5 6.1 Expected volatility 69.4 69.5 % 71.4 72.8 % 68.7 69.6 % 68.0 79.4 % Risk-free interest rate 0.9 1.1 % 0.4 % 0.9 1.2 % 0.4 - 1.5 % Expected dividend - - - -
Summary of Stock-Based Compensation Expense Recognized for Stock Option Grants	Stock-based compensation expense recognized for stock option grants has been reported in the statements of operations and comprehensive loss as follows (in thousands): Summary of Stock-Based Compensation Expense Recognized for Stock Option Grants Three Months Ended Nine Months Ended 2021 2020 2021 2020 Research and development $ 134 $ 15 $ 247 $ 17 General and administrative 711 6 942 17 Total $ 845 $ 21 $ 1,189 $ 34

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Annual Lease Payments for Operating Leases	As of September 30, 2021, the future minimum annual lease payments under the operating lease was as follows (in thousands): Schedule of Future Minimum Annual Lease Payments for Operating Leases 2021 $ 18 2022 216 2023 221 2024 206 Total operating lease payments 661 Less: Amount representing interest (62 ) Total operating lease liabilities $ 599 Weighted-average remaining lease term (in years) 3.2 Weighted-average incremental borrowing rate 6 %

Organization and Nature of Op_2

Organization and Nature of Operations (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jul. 02, 2021	Sep. 30, 2021	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Cash and cash equivalents		$ 180,878	$ 4,573
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued	9,984,463
Number of shares issued on conversion of preferred stock	14,182,854
Net proceeds	$ 126,900
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued	1,302,321
Offering price	$ 14

Schedule of Net Loss Per Share

Schedule of Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Net loss and comprehensive loss	$ (6,184)	$ (5,775)	$ (2,781)	$ (2,307)	$ (2,202)	$ (1,436)	$ (14,740)	$ (5,945)
Accretion of redeemable convertible preferred stock to redemption value		$ 9	$ 13	153
Net loss and comprehensive loss available to common stockholders	$ (6,184)			$ (2,460)			$ (14,762)	$ (6,098)
Weighted-average common stock outstanding, basic and diluted	23,885,017			242,901			8,180,359	241,949
Net loss per share, basic and diluted	$ (0.26)			$ (10.13)			$ (1.80)	$ (25.20)
Series A Redeemable Convertible Preferred Stock [Member]
Accretion of redeemable convertible preferred stock to redemption value				$ (153)			$ (22)	$ (153)

Schedule of Potentially Dilutiv

Schedule of Potentially Dilutive Securities Not Included in the Calculation of Diluted Net Loss Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	2,800,574	3,598,230
Series Seed Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share		1,287,825
Series A Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share		2,089,341
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	2,800,574	221,064

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies (Details Narrative) - USD ($)	Jun. 22, 2021	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Reverse stock split ratio	1-for-3.1060103
Deferred offering costs		$ 0	$ 0

Schedule of Accrued and Other C

Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued And Other Current Liabilities
Accrued research and development	$ 578	$ 946
Accrued payroll and other employee benefits	365	192
Other	180	18
Total accrued and other current liabilities	$ 1,123	$ 1,156

Convertible Promissory Notes (D

Convertible Promissory Notes (Details Narrative)	Aug. 05, 2020	Jul. 13, 2020USD ($)	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)	Aug. 05, 2020USD ($)	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)	Dec. 30, 2019USD ($)
Short-term Debt [Line Items]
Change in fair value of convertible promissory notes				$ 64,000			$ 644,000
Series A Redeemable Convertible Preferred Stock [Member]
Short-term Debt [Line Items]
Share price | $ / shares			$ 1.893			$ 1.893
2019 Convertible Promissory Notes
Short-term Debt [Line Items]
Notes issued amount								$ 2,500,000
Interest rate								6.00%
Change in fair value of convertible promissory notes					$ 600,000
Interest expense							$ 100,000
2019 Convertible Promissory Notes | Series A Redeemable Convertible Preferred Stock [Member]
Short-term Debt [Line Items]
Percentage of share price as conversion price	0.80
2020 Convertible Promissory Notes
Short-term Debt [Line Items]
Notes issued amount		$ 2,500,000
Interest rate		3.00%
Change in fair value of convertible promissory notes		$ 0
Debt Instrument, Maturity Date		Oct. 31, 2020

Summary of Reconciliation of Al

Summary of Reconciliation of All Liabilities Measured at Fair Value Using Level 3 Significant Unobservable Inputs (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Short-term Debt [Line Items]
Issuance of convertible promissory notes, related party		$ 2,500,000
Ending balance	$ 0
Convertible Promissory Notes [Member]
Short-term Debt [Line Items]
Beginning balance		2,500,000
Issuance of convertible promissory notes, related party		2,500,000
Change in fair value of convertible promissory notes, related party		644,000
Exchange of convertible promissory notes (Note 4)		(5,644,000)
Ending balance

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details Narrative)	Sep. 30, 2021USD ($)
Fair Value Disclosures [Abstract]
Cash	$ 1,600,000
Money market funds, carrying value	179,300,000
Liabilities measured at fair value	$ 0

Schedule of Common Stock Shares

Schedule of Common Stock Shares Reserved for On and As-converted Basis, for Future Issuance (Details) - shares	Sep. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Common stock options granted and outstanding	2,800,574	229,105
Reserved for future option grants	1,738,380
Reserved for future ESPP issuances	230,000
Total	4,768,954

Stockholders_ Equity (Deficit_2

Stockholders’ Equity (Deficit) (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	Jul. 02, 2021	Jun. 04, 2021	Feb. 01, 2021	Aug. 05, 2020	Aug. 31, 2018	Sep. 30, 2021	Jun. 22, 2021	Dec. 31, 2020	Aug. 03, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Capital Stock Shares, Authorized									94,052,154
Common shares, shares authorized (in shares)						150,000,000	150,000,000	50,000,000	50,000,000
Common shares, par value (in dollars per share)						$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Convertible preferred shares, shares authorized (in shares)							10,000,000		44,052,154
Convertible preferred shares, par value (in dollars per share)							$ 0.0001		$ 0.0001
Common shares, shares issued (in shares)						24,410,393		243,076
IPO [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued	9,984,463
RA Capital Healthcare Fund, L.P
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share price					$ 0.0012
Common stock shares issued upon conversion of redeemable convertible preferred stock	14,182,854
Common shares, shares issued (in shares)					241,467
Series Seed Redeemable Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Convertible preferred shares, shares authorized (in shares)					4,000,000	0		4,000,000	4,000,000
Convertible preferred shares, par value (in dollars per share)					$ 1	$ 0.0001		$ 0.0001
Redeemable convertible preferred stock, shares						0		4,000,000
Series Seed Redeemable Convertible Preferred Stock [Member] | RA Capital Healthcare Fund, L.P
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from sale of redeemable preferred stock					$ 4
Series A Redeemable Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Convertible preferred shares, shares authorized (in shares)						0		40,052,154	40,052,154
Convertible preferred shares, par value (in dollars per share)						$ 0.0001		$ 0.0001
Proceeds from sale of redeemable preferred stock				$ 6.6
Redeemable convertible preferred stock, shares				3,468,536		0		6,489,534
Redeemable convertible preferred stock, shares issued, conversion of notes				3,020,998
Share price						$ 1.893
Series A Redeemable Convertible Preferred Stock [Member] | Stock purchase agreement
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from sale of redeemable preferred stock				$ 63.5
Redeemable convertible preferred stock, shares				33,562,620
Share price				$ 1.893
Series A Redeemable Convertible Preferred Stock [Member] | Stock purchase agreement | First milestone
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from sale of redeemable preferred stock			$ 8
Redeemable convertible preferred stock, shares			4,224,274
Series A Redeemable Convertible Preferred Stock [Member] | Stock purchase agreement | Second and third milestone
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from sale of redeemable preferred stock		$ 55.5
Redeemable convertible preferred stock, shares		29,338,346

Summary of Option Activity Unde

Summary of Option Activity Under 2021 Plan and 2018 Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Options Outstanding, beginning balance		229,105
Weighted-Average Exercise Price Outstanding, beginning balance		$ 1.74
Weighted- Average Remaining Contractual Term, Outstanding		9 years 6 months 14 days	9 years 8 months 8 days
Aggregate Intrinsic Value Outstanding, beginning balance
Options Granted		2,571,469
Weighted-Average Exercise Price, Granted		$ 6.15
Weighted- Average Remaining Contractual Term, Granted		9 years 7 months 2 days
Options Exercised	1,609
Options, Cancelled/Forfeited
Options Outstanding, ending balance		2,800,574	229,105
Weighted-Average Exercise Price Outstanding, ending balance		$ 5.79	$ 1.74
Aggregate Intrinsic Value Outstanding, ending balance		$ 42,442
Options, Vested and exercisable		172,729
Weighted-Average Exercise Price, Vested and exercisable		$ 4.35
Weighted- Average Remaining Contractual Term, Vested and exercisable		9 years 3 months 7 days
Aggregate Intrinsic Value, Vested and exercisable		$ 2,873
Options, Vested and expected to vest		2,800,574
Weighted-Average Exercise Price, Vested and expected to vest		$ 5.79
Weighted- Average Remaining Contractual Term, Vested and expected		9 years 6 months 14 days
Aggregate Intrinsic Value, Vested and expected to vest		$ 42,442

Summary of Fair Value of Stock

Summary of Fair Value of Stock Options Assumptions (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	69.40%	71.40%	68.70%	68.00%
Expected volatility, maximum	69.50%	72.80%	69.60%	79.40%
Risk-free interest rate, minimum	0.90%		0.90%	0.40%
Risk-free interest rate, maximum	1.10%		1.20%	1.50%
Risk-free interest rate		0.40%
Expected dividend
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 2 months 12 days	5 years 6 months	5 years 2 months 12 days	5 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 9 months 18 days	6 years 1 month 6 days	6 years 1 month 6 days	6 years 1 month 6 days

Summary of Stock-Based Compensa

Summary of Stock-Based Compensation Expense Recognized for Stock Option Grants (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 845	$ 21	$ 1,189	$ 34
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	134	15	247	17
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 711	$ 6	$ 942	$ 17

Share-Based Compensation (Detai

Share-Based Compensation (Details Narrative) - USD ($) $ in Millions	Jun. 29, 2021	Jun. 30, 2021	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			2,571,469
Number of shares available for award purposes			1,738,380
Unrecognized stock based compensation			$ 8.8
Unrecognized stock-based compensation weighted-average period			3 years 6 months
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for issuance	2,600,000
Percentage on total number of shares outstanding	4.00%
Number of shares granted			861,620
Number of shares available for award purposes			1,738,380
Expiration period			10 years
Vesting period description			three to four years
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for issuance		230,000
Percentage of common stock purchase price		15.00%
Discount percentage on marker price		85.00%
Shares issued			0

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - Service agreement with carnot LLC - USD ($)	Sep. 18, 2018	Jul. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Term of service agreement	2 years	2 years
Accounts payable, related party			$ 9,000		$ 9,000		$ 6,000
Research and development and general and administrative expenses
Related Party Transaction [Line Items]
Expenses incurred under service agreement			$ 17,000	$ 31,000	$ 100,000	$ 100,000

Schedule of Future Minimum Annu

Schedule of Future Minimum Annual Lease Payments for Operating Leases (Details) $ in Thousands	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 18
2022	216
2023	221
2024	206
Total operating lease payments	661
Less: Amount representing interest	(62)
Total operating lease liabilities	$ 599
Weighted-average remaining lease term (in years)	3 years 2 months 12 days
Weighted-average incremental borrowing rate	6.00%

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative)	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2021USD ($)ft²	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Lessee, Lease, Description [Line Items]
Operating lease expense		$ 16,000	$ 16,000
Waltham Lease [Member]
Lessee, Lease, Description [Line Items]
Area Of Land | ft²	5,000
Lease term description	The Waltham Lease has a term of thirty-nine months (“Lease Term”), unless extended or earlier terminated.
Lease term	3 years
Rent payable	$ 18,000
Increase in base rent payable percentage	2.00%