Repare Therapeutics (RPTX) 10-K 28 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	RPTX
Entity Registrant Name	Repare Therapeutics Inc.
Entity Central Index Key	0001808158
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 383,103,514
Entity Common Stock, Shares Outstanding		42,182,177
Title of 12(b) Security	Common Shares, no par value
Security Exchange Name	NASDAQ
Entity File Number	001-39335
Entity Incorporation, State or Country Code	A8
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	7171 Frederick-Banting
Entity Address, Address Line Two	Suite 270
Entity Address, City or Town	St-Laurent
Entity Address, State or Province	QC
Entity Address, Country	CA
Entity Address, Postal Zip Code	H4S 1Z9
City Area Code	857
Local Phone Number	412-7018
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Documents Incorporated by Reference	Portions of the definitive proxy statement for the registrant’s 2024 annual meeting of shareholders, which is to be filed within 120 days after the end of the registrant’s fiscal year ended December 31, 2023, are incorporated by reference into Part III of this Form 10-K, to the extent described in Part III.
Auditor Firm ID	1263
Auditor Name	Ernst & Young LLP
Auditor Location	Montréal, Canada

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 111,268	$ 159,521
Marketable securities	112,359	184,420
Income tax receivable	10,813	0
Other current receivables	4,499	4,323
Prepaid expenses	4,749	5,715
Total current assets	243,688	353,979
Property and equipment, net	4,215	4,228
Operating lease right-of-use assets	3,326	5,371
Income tax receivable	2,276	0
Other assets	396	497
TOTAL ASSETS	253,901	364,075
Current liabilities:
Accounts payable	2,400	461
Accrued expenses and other current liabilities	24,057	21,645
Operating lease liabilities, current portion	2,400	2,171
Deferred revenue, current portion	10,222	53,102
Income tax payable	0	1,240
Total current liabilities	39,079	78,619
Operating lease liabilities, net of current portion	1,010	3,257
Deferred revenue, net of current portion	1,730	2,682
TOTAL LIABILITIES	41,819	84,558
Commitments and Contingencies
SHAREHOLDERS' EQUITY:
Preferred shares, no par value per share; unlimited shares authorized as of December 31, 2023 and December 31, 2022, respectively; 0 shares issued and outstanding as of December 31, 2023, and December 31, 2022, respectively	0	0
Common shares, no par value per share; unlimited shares authorized as of December 31, 2023 and December 31, 2022; 42,176,041 and 42,036,193 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively	483,350	482,032
Additional paid-in capital	61,813	37,226
Accumulated other comprehensive loss	28	(428)
Accumulated deficit	(333,109)	(239,313)
TOTAL SHAREHOLDERS' EQUITY	212,082	279,517
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 253,901	$ 364,075

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0	$ 0
Preferred stock shares authorized	Unlimited	Unlimited
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0	$ 0
Common stock shares authorized	Unlimited	Unlimited
Common stock shares issued	42,176,041	42,036,193
Common stock shares outstanding	42,176,041	42,036,193

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Collaboration agreements	$ 51,133	$ 131,830
Operating expenses:
Research and development, net of tax credits	133,593	119,066
General and administrative	33,764	32,560
Total operating expenses	167,357	151,626
Loss from operations	(116,224)	(19,796)
Other income (expense), net
Realized and unrealized gain (loss) on foreign exchange	(170)	308
Interest income	13,334	5,631
Other expense, net	(119)	(43)
Total other income, net	13,045	5,896
Loss before income taxes	(103,179)	(13,900)
Income tax benefit (expense)	9,383	(15,147)
Net loss	(93,796)	(29,047)
Unrealized gain (loss) on available-for-sale marketable securities	456	(428)
Total other comprehensive income (loss)	456	(428)
Comprehensive loss	$ (93,340)	$ (29,475)
Net loss per share attributable to common shareholders--basic	$ (2.23)	$ (0.69)
Net loss per share attributable to common shareholders--diluted	$ (2.23)	$ (0.69)
Weighted-average common shares outstanding-basic	42,093,293	41,922,042
Weighted-average common shares outstanding-diluted	42,093,293	41,922,042

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	2020 Employee Share Purchase Plan	Common Shares	Common Shares 2020 Employee Share Purchase Plan	Additional Paid-in Capital	Additional Paid-in Capital 2020 Employee Share Purchase Plan	Accumulated Other Comprehensive Income	Accumulated Deficit
Balance at Dec. 31, 2021	$ 288,421		$ 480,699		$ 17,988			$ (210,266)
Balance, Shares at Dec. 31, 2021			41,850,162
Exercise of vested stock options	447		$ 708		(261)
Exercise of vested stock options, Shares			148,116
Share-based compensation expense	19,691				19,691
Issuance of common shares under the 2020 Employee Share Purchase Plan		$ 433		$ 625		$ (192)
Issuance of common shares under the 2020 Employee Share Purchase Plan, Shares				37,915
Other comprehensive loss	(428)						$ (428)
Net loss	(29,047)							(29,047)
Balance at Dec. 31, 2022	279,517		$ 482,032		37,226		(428)	(239,313)
Balance, Shares at Dec. 31, 2022			42,036,193
Exercise of vested stock options	$ 153		$ 241		(88)
Exercise of vested stock options, Shares	64,240		64,240
Share-based compensation expense	$ 25,063				25,063
Issuance of common shares under the 2020 Employee Share Purchase Plan		$ 689		$ 1,077		$ (388)
Issuance of common shares under the 2020 Employee Share Purchase Plan, Shares				75,608
Other comprehensive loss	456						456
Net loss	(93,796)							(93,796)
Balance at Dec. 31, 2023	$ 212,082		$ 483,350		$ 61,813		$ 28	$ (333,109)
Balance, Shares at Dec. 31, 2023			42,176,041

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows From Operating Activities:
Net loss for the year	$ (93,796)	$ (29,047)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	25,063	19,691
Depreciation expense	1,951	1,978
Non-cash lease expense	2,194	2,206
Foreign exchange loss (gain)	78	(298)
Net accretion of marketable securities	(7,465)	(2,233)
Deferred tax asset	0	3,620
Changes in operating assets and liabilities:
Prepaid expenses	969	593
Other current receivables	(216)	(1,385)
Other non-current assets	101	89
Accounts payable	1,934	(1,348)
Accrued expenses and other current liabilities	2,412	3,020
Operating lease liabilities, current portion	151	615
Income taxes	(14,329)	717
Operating lease liabilities, net of current portion	(2,373)	(2,146)
Deferred revenue	(43,832)	4,250
Net cash (used in) provided by operating activities	(127,158)	322
Cash Flows From Investing Activities:
Purchase of property and equipment	(1,938)	(602)
Proceeds from maturities of marketable securities	259,000	81,400
Purchase of marketable securities	(179,021)	(256,576)
Net cash provided by (used in) investing activities	78,041	(175,778)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	153	447
Proceeds from issuance of common shares under the 2020 Employee Share Purchase Plan	689	433
Net cash provided by financing activities	842	880
Effect of exchange rate fluctuations on cash held	22	(330)
Net (Decrease) Increase In Cash And Cash Equivalents	(48,253)	(174,906)
Cash and cash equivalents cash at beginning of year	159,521	334,427
Cash and cash equivalents at end of year	111,268	159,521
Supplemental Disclosure Of Cash Flow Information:
Cash interest received	3,089	1,966
Cash taxes paid, net	4,945	10,810
Right-of-use assets obtained in exchange for new operating lease liability	$ 149	$ 86

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (93,796)	$ (29,047)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023 shares
Lloyd M Segal
Trading Arrangements, by Individual
Name	Lloyd M. Segal
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 22, 2023
Arrangement Duration	456 days
Aggregate Available	103,091
Expiration Date	March 22, 2025
Steve Forte
Trading Arrangements, by Individual
Name	Steve Forte
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 22, 2023
Arrangement Duration	456 days
Aggregate Available	134,089
Expiration Date	March 22, 2025
Maria Koehler
Trading Arrangements, by Individual
Name	Maria Koehler
Title	Chief Medical Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 22, 2023
Arrangement Duration	456 days
Aggregate Available	143,064
Expiration Date	March 22, 2025
Michael Zinda
Trading Arrangements, by Individual
Name	Michael Zinda
Title	Chief Scientific Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	December 22, 2023
Arrangement Duration	456 days
Aggregate Available	91,719
Expiration Date	March 22, 2025

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	1. Organization and Nature of Business Repare Therapeutics Inc. (“Repare” or the “Company”) is a precision medicine oncology company focused on the development of synthetic lethality-based therapies to patients with cancer. The Company was incorporated under the Canada Business Corporations Act on September 6, 2016 . On June 23, 2020, immediately prior to the completion of its initial public offering (the “IPO”), the Company was continued as a corporation under the Business Corporations Act (Québec) . Since inception, the Company has incurred operating losses. As of December 31, 2023, the Company had an accumulated deficit of $ 333.1 million . The Company does not have any products approved for sale and has financed its operations primarily through equity financings and funding from its collaboration and license agreements. Based on its current operating plan, the Company expects that its existing cash and cash equivalents and marketable securities on hand will be sufficient to fund its operating and capital expenditures for at least one year from the date of the issuance of these consolidated financial statements. There can be no assurance that the Company will be able to obtain additional debt or equity financing, or generate product revenue or revenue from collaboration agreements, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations and financial condition.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). Principles of Consolidation The accompanying consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Repare Therapeutics USA Inc. (“Repare USA”), which was incorporated under the laws of Delaware on June 1, 2017. The financial statements of Repare USA are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group transactions, balances, income, and expenses are eliminated in full upon consolidation. Smaller Reporting Company Because the market value of our common shares held by non-affiliates was between $250 million and $700 million as of June 30, 2023 and our revenue for the year ended December 31, 2022 was more than $100 million, we will lose our status as a “smaller reporting company” and no longer be eligible to rely on the scaled disclosure exemptions available to smaller reporting companies starting with the filing of our first Quarterly Report in 2024. Foreign Currencies The functional currency for the Company and Repare USA is the U.S. dollar (“USD”). Accordingly, transactions denominated in currencies other than the functional currency are measured and recorded in the functional currency at the exchange rate in effect on the date of the transactions. At each consolidated balance sheet date, monetary assets and liabilities denominated in currencies other than the functional currency are remeasured using the exchange rate in effect at that date. Non-monetary assets and liabilities and revenue and expense items denominated in foreign currencies are translated into the functional currency using the exchange rate prevailing at the dates of the respective transactions. Any gains or losses arising on remeasurement are included in the consolidated statement of operations. Segment Information The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s singular focus is the research, development and commercialization of precision oncology drugs targeting specific vulnerabilities of tumors in genetically defined patient populations. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation, and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents. Cash and cash equivalents include cash held in banks, amounts held in money market funds and commercial paper with original maturities less than 90 days. Marketable Securities The Company classifies marketable debt securities with a remaining maturity of greater than three months when purchased as available-for-sale. Marketable debt securities with a remaining maturity date greater than one year are classified as non-current where the Company has the intent and ability to hold these securities for at least the next 12 months. The Company’s marketable securities consist of U.S. treasury securities, government-sponsored enterprises securities, and commercial paper with original maturities greater than 90 days. All of the Company’s marketable securities have a contractual maturity of one year or less. The Company considers its investment portfolio of U.S. treasury securities, government-sponsored enterprises securities, and commercial paper to be available-for-sale. Accordingly, these investments are recorded at fair value, which is based on observable inputs, other than quoted market prices. Unrealized gains and losses are reported in accumulated other comprehensive items in shareholders’ equity. Amortization and accretion of premiums and discounts are recorded in interest income (expense). Realized gains or losses on debt securities are included in other income (expense). The Company reviews investments whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not recoverable within a reasonable period of time. In connection therewith, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors, considering the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss on the consolidated balance sheet, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that is not related to credit is recognized in other comprehensive loss. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in other income (expense), net within the consolidated statement of operations. Losses are charged against the allowance when the Company believes the uncollectibility of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Concentrations of Credit Risk and Off-Balance Sheet Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and marketable securities. Our investment portfolio comprises money market funds, U.S. treasury securities, government-sponsored enterprises securities, and commercial paper. Our investment policy limits investment instruments to investment-grade securities with the objective to preserve capital and to maintain liquidity until the funds can be used in business operations. The Company maintains deposits in accredited financial institutions which exceed insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company’s exposure to foreign exchange risk is primarily related to fluctuations between the Canadian dollar and the U.S. dollar. There are balances in Canadian dollars which are subject to foreign currency fluctuations relating to the impact of translating to U.S. dollars for financial statement presentation. As of December 31, 2023 and 2022 , the Company had no significant off-balance sheet risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements. Comprehensive Loss Comprehensive loss includes net loss as well as other changes in shareholders’ equity that result from transactions and economic events other than those with shareholders. Other comprehensive loss consists of unrealized losses on available-for-sale marketable securities. Total comprehensive loss for all periods presented has been disclosed in the consolidated statements of operations and comprehensive loss. Fair Value Measurements Certain assets and liabilities of the Company are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. An entity may choose to measure financial instruments and certain other items at fair value at specified election dates. Subsequent unrealized gains and losses on items for which the fair value option has been elected will be reported in earnings. The estimated fair values of the Company’s cash and cash equivalents, other current receivables, other assets, accounts payable, and accrued expenses and other current liabilities approximate their carrying values. The Company’s marketable securities are carried at fair value, determined according to Level 2 inputs in the fair value hierarchy described above. Property and Equipment, Net Property and equipment is stated at historical cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, which are as follows: Asset Category Estimated Useful Lives Computer equipment 3 years Office equipment 5 years Laboratory equipment 5 years Leasehold improvements the shorter of the lease term and the useful life When assets are retired or disposed of, the assets and related accumulated depreciation are derecognized from the accounts, and any resulting gain or loss is included in the determination of net loss. Expenditures for maintenance and repairs are recorded to expense as incurred. Impairment of Long-Lived Assets The Company evaluates its finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable. Recoverability of these assets is measured by comparing their carrying value to the future net undiscounted cash flows the assets are expected to generate over their remaining economic life. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying value of the assets exceeds their fair value. Indefinite-lived intangible assets are tested for impairment annually, or more frequently if indicators of impairment are present. To date, no such impairment losses have been recorded. Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the consolidated balance sheet as a right-of-use asset and current and non-current lease liabilities, as applicable. Operating lease liabilities and their corresponding right-of-use assets are initially recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments to the right-of-use asset may be required for items such as incentives received. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Prospectively, the Company will adjust the right-of-use assets for straight-line rent expense or any incentives received and remeasure the lease liability at the net present value using the same incremental borrowing rate that was in effect as of the lease commencement or transition date. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will renew. Assumptions made by the Company at the commencement date are re-evaluated upon occurrence of certain events, including a lease modification. A lease modification results in a separate contract when the modification grants the lessee an additional right of use not included in the original lease and when lease payments increase commensurate with the standalone price for the additional right of use. When a lease modification results in a separate contract, it is accounted for in the same manner as a new lease. In accordance with ASC 842, components of a lease should be split into three categories: lease components, non-lease components and non-components. The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. Entities may elect not to separate lease and non-lease components. The Company has elected to account for lease and non-lease components together as a single lease component for all underlying assets and allocate all of the contract consideration to the lease component only. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The Company enters into collaboration and license agreements, which are within the scope of ASC 606, to discover, develop, manufacture, and commercialize product candidates. The terms of these agreements typically contain multiple promises or obligations, which may include: (i) licenses to compounds directed to specific targets (referred to as “exclusive licenses”) and (ii) research and development activities to be performed on behalf of the collaboration partner related to the licensed targets. Payments to the Company under these agreements may include non-refundable license fees, customer option exercise fees, payments for research activities, reimbursement of certain costs, payments based upon the achievement of certain milestones and royalties on any resulting net product sales. The Company first evaluates license and/or collaboration arrangements to determine whether the arrangement (or part of the arrangement) represents a collaborative arrangement pursuant to ASC 808, Collaborative Arrangements (“ASC 808”), based on the risks and rewards and activities of the parties pursuant to the contractual arrangement. The Company accounts for collaborative arrangements (or elements within the contract that are deemed part of a collaborative arrangement), which represent a collaborative relationship and not a customer relationship, outside the scope of ASC 606. The Company’s collaborations primarily represent revenue arrangements. For the arrangements or arrangement components that are subject to revenue accounting guidance, in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements, the Company applies the five-step model. As part of the accounting for these arrangements, the Company must use significant judgment to determine: a) the number of performance obligations based on the determination under step (ii) above and whether those performance obligations are distinct from other performance obligations in the contract; b) the transaction price under step (iii) above; and c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of transaction price in step (iv) above. The Company uses judgment to determine whether milestones or other variable consideration, except for sales-based royalties, should be included in the transaction price as described further below. The transaction price is allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. In determining the stand-alone selling price of a license to the Company’s proprietary technology or a material right provided by a customer option, the Company considers market conditions as well as entity-specific factors, including those factors contemplated in negotiating the agreements as well as internally developed estimates that include assumptions related to the market opportunity, estimated development costs, probability of success and the time needed to commercialize a product candidate pursuant to the license. In validating its estimated stand-alone selling price, the Company evaluates whether changes in the key assumptions used to determine its estimated stand-alone selling price will have a significant effect on the allocation of arrangement consideration between performance obligations. Amounts received prior to revenue recognition are recorded as deferred revenue. Amounts expected to be recognized as revenue within one year following the balance sheet date are classified as current portion of deferred revenue in the accompanying consolidated balance sheets. Amounts not expected to be recognized as revenue within one year following the balance sheet date are classified as deferred revenue, net of current portion. Amounts recognized as revenue, but not yet received or invoiced are generally recognized as contract assets. Exclusive Licenses – If the license to the Company’s intellectual property is determined to be distinct from the other promises or performance obligations identified in the arrangement, which generally include research and development services, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. In assessing whether a license is distinct from the other promises, the Company considers relevant facts and circumstances of each arrangement, including the research and development capabilities of the collaboration partner and the availability of the associated expertise in the general marketplace. In addition, the Company considers whether the collaboration partner can benefit from the license for its intended purpose without the receipt of the remaining promises, whether the value of the license is dependent on the unsatisfied promises, whether there are other vendors that could provide the remaining promises and whether it is separately identifiable from the remaining promises. For licenses that are combined with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation and whether the license is the predominant promise within the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue. If the license is the predominant promise, and it is determined that the license represents functional intellectual property (“IP”), revenue is recognized at the point in time when control of the license is transferred. If it is determined that the license does not represent functional IP, revenue is recognized over time using an appropriate method of measuring progress. Research and Development Services – The obligations under the Company’s collaboration and license agreements generally include research and development services to be performed by the Company to benefit the collaboration partner. For performance obligations that include research and development services, the Company generally recognizes revenue allocated to such performance obligations based on an appropriate measure of progress. The Company utilizes judgment to determine the appropriate method of measuring progress for purposes of recognizing revenue, which is generally an input measure such as costs incurred. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. The measure of progress, and thereby periods of which revenue should be recognized, are subject to estimates by management and may change over the course of the contract. Reimbursements from the partner that are the result of a collaborative relationship with the partner, instead of a customer relationship, such as co-development activities, are recorded as a reduction to research and development expense. Customer Options – The Company’s arrangements may provide a collaborator with the right to acquire additional goods or services in the future. Under these agreements, fees may be due to the Company (i) at the inception of the arrangement as an upfront fee or payment or (ii) upon the exercise of the customer option. If an arrangement is determined to contain customer options that allow the customer to acquire additional goods or services, the goods and services underlying the customer options are not considered to be performance obligations at the outset of the arrangement, as they are contingent upon option exercise. The Company evaluates the customer options for material rights, or options to acquire additional goods or services for free or at a discount. If the customer options are determined to represent a material right, the material right is recognized as a separate performance obligation at the inception of the arrangement. The Company allocates the transaction price to material rights based on the relative stand-alone selling price, which is determined based on the identified discount and the probability that the customer will exercise the option. Amounts allocated to a material right are not recognized as revenue until, at the earliest, the option is exercised or expires. Milestone Payments – At the inception of each arrangement that includes development milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The Company evaluates factors such as the scientific, clinical, regulatory, commercial, and other risks that must be overcome to achieve the particular milestone in making this assessment. There is considerable judgment involved in determining whether it is probable that a significant revenue reversal would not occur. At the end of each subsequent reporting period, the Company reevaluates the probability of achievement of all milestones subject to constraint and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. If a milestone or other variable consideration relates specifically to the Company’s efforts to satisfy a single performance obligation or to a specific outcome from satisfying the performance obligation, the Company generally allocates the milestone amount entirely to that performance obligation once it is probable that a significant revenue reversal would not occur. Royalties – For arrangements that include sales-based royalties, including milestone payments based on a level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any royalty revenue resulting from any of its licensing arrangements. For a complete discussion of accounting for collaboration revenues, s ee Note 13. Research and Development Expenses Research and development costs are expensed as incurred. The Company’s research and development expenses consist primarily of costs incurred in performing research and development activities, including salaries and other compensation, share-based compensation, fees paid to external service providers, laboratory supplies and costs for facilities and equipment, partially offset by fully refundable research and development tax credits. Non-refundable prepayments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are expensed as the goods are delivered or the services are performed, or until it is no longer expected that the goods will be delivered, or the services rendered. Accrued and Prepaid Research and Development Expenses The Company has entered into various research and development contracts with research institutions, outside consultants, contract research organizations and clinical manufacturing organizations that conduct and manage preclinical studies and clinical trials on the Company’s behalf based on actual time and expenses incurred. The payments for these vendors are recorded as research and development expenses as incurred. There may be instances in which payments made to our vendors will exceed the level of services provided and result in a prepayment of the research and development expense. The Company records accrued liabilities and prepaid expenses for the estimated costs of research and development activities based upon the estimated services provided but not yet invoiced. When evaluating the adequacy of the accrued liabilities and prepaid expenses, the Company analyzes progress of the studies, including the phase or completion of events, invoices received and contracted costs. The Company accrues the expenses for its clinical trial activities performed by third-party vendors, including contract research organizations and clinical sites, based upon estimates of the proportion of work completed over the life of the individual clinical trial, activities performed by patient and patient enrollment rates in accordance with associated agreements. Significant judgements and estimates are made in determining the accrued and prepaid balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Share-Based Compensation The Company accounts for all share-based awards granted to employees and non-employees as share-based compensation expense at fair value. The measurement date for employee and non-employee awards is the date of grant, and share-based compensation costs are recognized over the employees’ requisite service period, which is the vesting period, on a straight-line basis. Forfeitures are accounted for as they occur. The fair value of each restricted share unit is estimated on the date of grant based on the fair value of the Company’s common share on that same date. The fair value of each stock option grant or purchases under the Company’s 2020 Employee Share Purchase Plan (“ESPP”) is estimated on the date of grant using the Black-Scholes option-pricing model, which requires inputs based on certain subjective assumptions, including the expected share price volatility, the expected term of the option, the risk-free interest rate for a period that approximates the expected term of the option and the Company’s expected dividend yield. As there was no public market for its common shares prior to its IPO in June 2020, the Company determined the volatility for stock option awards granted based on an analysis of reported data for a group of guideline companies that issued options with substantially similar terms. The expected volatility has been determined using a weighted-average of the historical volatility measures of this group of guideline companies blended with the historical volatility of the Company’s common shares. The Company expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. For purchases under our ESPP, only the historical volatility of the Company’s common shares is used when developing an estimate of expected volatility. The expected term of the Company’s stock options granted to employees and non-employees has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. In connection with the adoption of ASU No. 2018-07, Compensation—Stock Compensation (“ASU No. 2018-07”), the Company calculated the expected term of non-employee awards using the midpoint between the vesting date and the contractual term, which is consistent with the method used for employee awards. For purchases under our ESPP, the expected term is based on the length of the offering period. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award, for time periods approximately equal to the expected term of the award

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values: Description Financial Assets Level 1 Level 2 Level 3 (in thousands) As at December 31, 2023 Assets Cash and cash equivalents Money market funds $ 36,991 $ 36,991 $ — $ — Commercial paper 29,815 — 29,815 — Total cash and cash equivalents 66,806 36,991 29,815 — Marketable securities U.S. Treasury and government-sponsored 22,409 — 22,409 — Commercial paper 89,950 — 89,950 — Total marketable securities 112,359 — 112,359 — Total financial assets $ 179,165 $ 36,991 $ 142,174 $ — As at December 31, 2022 Assets Money market funds included in cash and cash $ 42,995 $ 42,995 $ — $ — Marketable securities U.S. Treasury and government-sponsored 184,420 — 184,420 — Total financial assets $ 227,415 $ 42,995 $ 184,420 $ — When developing fair value estimates, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs. When available, the Company uses quoted market prices to measure the fair value. In determining the fair values at each date presented above, the Company relied on quoted prices for similar securities in active markets or using other inputs that are observable or can be corroborated by observable market data. During the years ended December 31, 2023 and 2022 , there were no transfers between fair value measure levels.

Other Current Receivables

Other Current Receivables	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Other Current Receivables	5. Other Current Receivables Other current receivables as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 2022 (in thousands) Research and development tax credits receivable $ 1,319 $ 1,280 Collaboration revenue receivable 2,050 1,525 Sales tax and other receivables 1,130 1,518 Total other current receivables $ 4,499 $ 4,323

Cash and Cash Equivalents and M

Cash and Cash Equivalents and Marketable Securities	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Cash and Cash Equivalents and Marketable Securities	3. Cash and Cash Equivalents and Marketable Securities As of December 31, 2023 and 2022, cash and cash equivalents and marketable securities were comprised of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) As at December 31, 2023 Cash and cash equivalents: Cash $ 44,462 $ — $ — $ 44,462 Money market funds 36,991 — — 36,991 Commercial paper 29,811 4 — 29,815 Total cash and cash equivalents $ 111,264 $ 4 $ — $ 111,268 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 22,434 $ — $ ( 25 ) $ 22,409 Commercial paper 89,901 60 ( 11 ) 89,950 Total marketable securities $ 112,335 $ 60 $ ( 36 ) $ 112,359 As at December 31, 2022 Cash and cash equivalents: Cash $ 116,526 $ — $ — $ 116,526 Money market funds 42,995 — — 42,995 Total cash and cash equivalents $ 159,521 $ — $ — $ 159,521 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 184,848 $ 5 $ ( 433 ) $ 184,420 Total marketable securities $ 184,848 $ 5 $ ( 433 ) $ 184,420 Interest receivable was $ 0.4 million and $ 0.4 million as of December 31, 2023 and 2022, respectively, and is included in other receivables. The Company held available-for-sale marketable securities with an aggregate fair value of $ 58.6 million and $ 157.9 million that were in an unrealized loss position as of December 31, 2023 and 2022, respectively. These marketable securities have been in an unrealized loss position for less than twelve months. The unrealized losses as of December 31, 2023 were not attributed to credit risk but were primarily associated with changes in interest rates and market liquidity. The Company does not intend to sell these securities and it is more likely than not that it will hold these investments for a period of time sufficient to recover the amortized cost. As a result, the Company did no t record an allowance for credit losses or other impairment charges for its marketable securities for the year ended December 31, 2023. The Company recognized a $ 0.5 million net unrealized gain and $ 0.4 million net unrealized loss in other comprehensive income for the years ended December 31, 2023 and 2022, respectively. The maturities of the Company’s marketable securities as of December 31, 2023 and 2022 are less than one year.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	6. Property and Equipment, Net Property and equipment, net as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 2022 (in thousands) Computer equipment $ 473 $ 473 Office equipment 514 514 Laboratory equipment 7,985 6,075 Leasehold improvements 2,547 2,519 Total 11,519 9,581 Less: Accumulated depreciation ( 7,304 ) ( 5,353 ) Property and equipment, net $ 4,215 $ 4,228 Depreciation expense recognized was allocated as follows: Year Ended December 31, 2023 2022 (in thousands) Research and development $ 1,835 $ 1,837 General and administration 116 141 Depreciation expense $ 1,951 $ 1,978

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	7. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 2022 (in thousands) Accrued compensation and benefits $ 6,981 $ 5,616 Accrued research and development expense 16,251 15,078 Accrued professional services 631 680 Other 194 271 Total accrued expenses and other current liabilities $ 24,057 $ 21,645

License Agreements

License Agreements	12 Months Ended
	Dec. 31, 2023
License Agreements [Abstract]
License Agreements	8. License Agreements In December 2016, as further amended in February 2017 and amended and restated in July 2018, the Company entered into a license agreement (the “NYU Agreement”) with New York University, pursuant to which the Company obtained a worldwide, royalty-bearing, exclusive license under certain patents and know-how of New York University to research, develop and commercialize products covered by such licensed patents. The Company is required to pay New York University an annual non-refundable license fee, which is creditable against future milestone and royalty payments. The Company is required to pay amounts up to approximately $ 6.7 million in the aggregate upon achievement of certain clinical and commercial milestones and pay a low single digit royalty on future net sales of any product covered by a licensed product and a lower-single digit royalty on future net sales of any product not covered by a licensed product. The NYU Agreement expires on the date of expiration of all royalty obligations. Any potential future milestone or royalty payment amounts have no t been accrued at December 31, 2023 and 2022 due to the uncertainty related to the successful achievement of these milestones.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	9. Leases The Company has historically entered into lease arrangements for its facilities and certain equipment. As of December 31, 2023 , the Company had four operating leases with required future minimum payments. The Company’s leases generally do not include termination or purchase options. Operating Leases In June 2017, and as further amended in 2021, the Company entered into a lease agreement for office and laboratory space in Montré al, Quebec, for a four-year term, ending in July 2021 . In August 2021, the lease was extended through July 2025 . In November 2017, and as further amended throughout 2018, 2019, 2020, 2021 and 2022, the Company entered into a lease agreement for office and laboratory space located in Montréal, Qué bec, for a three-year term ending in October 2020 , which was extended through December 2022 . In January 2023, and as further amended in April 2023, the Company entered into a lease renewal agreement for a thirty-two month term, ending in August 2025 . In July 2021, the Company entered into a lease agreement for office space in Cambridge, Massachusetts, for a three-year term ending in December 2024 , which commenced in December 2021. The Company has an option for a three year renewal, which has not been recognized in the Company’s right-of-use asset or lease liability. In November 2019, and as further amended in July 2021, the Company entered into a lease agreement for office and laboratory space for a five-year term located in Montr éal, Qué bec which commenced in September 2020. The Company has an option for a five year renewal, which has not been recognized in the Company’s right-of-use asset or lease liability. The following tables contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the years ended December 31, 2023 and 2022: December 31, 2023 2022 (in thousands) Operating Leases Lease Cost Operating lease cost $ 2,372 $ 2,456 Short-term lease cost 122 33 Variable lease cost 249 278 Total lease cost $ 2,743 $ 2,767 December 31, 2023 2022 (in thousands, except as specified otherwise) Other Operating Lease Information Operating cash flows for operating leases $ 2,405 $ 1,948 Right-of-use assets obtained in exchange for lease obligations $ 149 $ 86 Weighted-average remaining lease term (in years) 1.46 2.43 Weighted-average discount rate 4.2 % 4.0 % Variable lease costs for the years ended December 31, 2023 and 2022 include contingent rental usage, common area maintenance and other operating charges. As the Company’s leases do no t provide an implicit rate, the Company utilized its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Future minimum lease payments under the Company’s operating leases as of December 31, 2023 were as follows: December 31, (in thousands) Maturity of Lease Liabilities 2024 $ 2,490 2025 1,022 Total lease payments $ 3,512 Less: interest ( 102 ) Total lease liabilities $ 3,410

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Shareholders' Equity	10. Shareholders’ Equity Preferred Shares Effective upon the closing of the IPO, the Company authorized for issue an unlimited number of preferred shares, issuable in series, having such designations, rights, privileges, restrictions and conditions, including dividend and voting rights as the board of directors of the Company may determine, and such rights and privileges, including dividend and voting rights, may be superior to those of the common shares. No preferred shares were issued and outstanding as of December 31, 2023 and 2022. Common Shares The articles of continuance of the Company authorize an unlimited number of common shares, voting and participating, without par value. Each common share entitles the holder to one vote on all matters submitted to the shareholders for a vote. The holders of common shares are entitled to receive dividends, as may be declared by the board of directors, if any. Through December 31, 2023 , no cash dividends have been declared or paid. In August 2022, the Company entered into a sale agreement (the “Sales Agreement”), with Cowen and Company, LLC. Under the Sales Agreement, the Company may sell up to $ 125.0 million in common shares. During the years ended December 31, 2023 and 2022, the Company did no t issue or sell shares under the Sales Agreement.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	11. Share-Based Compensation 2020 Employee Share Purchase Plan In June 2020, the Company’s board of directors adopted, and the Company’s shareholders approved the 2020 Employee Share Purchase Plan (“ESPP”). The number of shares reserved and available for issuance under the ESPP will automatically increase each January 1, beginning on January 1, 2021 and each January 1 thereafter through January 31, 2030, by the lesser of (1) 1.0 % of the total number of common shares outstanding on December 31 of the preceding calendar year, (2) 3,300,000 common shares, or (3) such smaller number of common shares as the Company’s board of directors may designate. As of January 1, 2024, the number of common shares that may be issued under the ESPP is 1,833,186 . The ESPP enables eligible employees to purchase common shares of the Company at the end of each offering period at a price equal to 85 % of the fair market value of the shares on the first business day or the last business day of the offering period, whichever is lower. Participation in the ESPP is voluntary. Eligible employees become participants in the ESPP by enrolling in the plan and authorizing payroll deductions. At the end of each offering period, accumulated payroll deductions are used to purchase the Company’s shares at the discounted price. The Company makes no contributions to the ESPP. A participant may withdraw from the ESPP or suspend contributions to the ESPP. If the participant elects to withdraw during an offering, all contributions are refunded as soon as administratively practicable. If a participant elects to withdraw or suspend contributions, they will not be able to re-enroll in the current offering but may elect to participate in future offerings. A participant may only purchase whole shares of the Company’s common shares in the ESPP. ESPP offering periods are offered on a rolling six-month basis. For the years ended December 31, 2023 and 2022 the Company issued 75,608 and 37,915 common shares under the ESPP, respectively, at an average price per share of $ 9.11 and $ 11.43 , respectively. Cash received from purchases under the ESPP for the years ended December 31, 2023 and 2022 was $ 0.7 million and $ 0.4 million , respectively. In February 2024, the Company issued 60,618 common shares under the ESPP at an average price per share of $ 5.91 . The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value under the ESPP offering were as follows: Year Ended December 31, 2023 2022 Risk-free interest rate 5.29 % 2.36 % Expected term (in years) 0.50 0.50 Expected volatility 58.38 % 85.37 % Expected dividend yield 0.00 % 0.00 % The weighted average grant date fair value of common shares offered and issued under the ESPP during the years ended December 31, 2023 and 2022 was $ 3.27 and $ 4.91 , respectively. Option Plan and 2020 Plan In December 2016, as further amended in December 2017 and September 2019, the Company adopted the Repare Therapeutics Inc. Option Plan (the “Option Plan”) for the issuance of stock options and other share-based awards to directors, officers, employees or consultants. The Option Plan authorized up to 4,074,135 shares of the Company’s common shares to be issued. In June 2020, the Company’s board of directors adopted, and the Company’s shareholders approved the 2020 Equity Incentive Plan (the “2020 Plan”). The 2020 Plan became effective on the effective date of the IPO, at which time the Company ceased making awards under the Option Plan. The 2020 Plan allows the Company’s compensation committee to make equity-based and cash-based incentive awards to the Company’s officers, employees, directors and consultants including but not limited to stock options and restricted share units. The aggregate number of common shares reserved and available for issuance under the 2020 Plan has automatically increased on January 1 of each year beginning on January 1, 2021 and will continue to increase on January 1 of each year through and including January 1, 2030, by 5 % of the outstanding number of common shares on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s board of directors. As of January 1, 2024, the number of common shares reserved for issuance under the 2020 Plan is 12,132,580 . The exercise price per share of stock option must be at least equal to the fair value of the common shares on the date of grant, as determined by the Company’s compensation committee or the Company’s board of directors. Stock options awarded under the 2020 Plan expire 10 years after the grant. Unless otherwise stated in a stock option agreement, options generally have vesting conditions of 25 % of the shares subject to an option grant typically vesting upon the first anniversary of the vesting start date and thereafter at the rate of one forty-eighth of the option shares per month as of the first day of each month after the first anniversary. Inducement Grant In May 2023, the compensation committee of the Company’s board of directors approved the grant of an inducement award to a newly hired member of the senior leadership team. The equity award, which was granted outside of the 2020 Plan, was an inducement material to such executive entering into employment with the Company, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option award to purchase an aggregate of 240,000 of the Company’s common shares has a ten-year term and an exercise price of $ 9.83 per share. The award has terms and conditions consistent with those set forth under the 2020 Plan and vests under the similar vesting schedules as stock option awards granted under the 2020 Plan. The inducement grant is included in the stock options table below. Stock Options The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted-average basis: Year Ended December 31, 2023 2022 Risk-free interest rate 3.73 % 2.17 % Expected term (in years) 6.01 5.99 Expected volatility 81.50 % 78.95 % Expected dividend yield 0.00 % 0.00 % The weighted average grant date fair value of stock options granted during the years ended December 31, 2023 and 2022 was $ 8.18 and $ 9.54 , respectively. The following table summarizes the Company’s stock options activity: Number of Weighted Weighted Intrinsic value (in thousands) Outstanding, January 1, 2023 8,032,902 $ 14.38 7.90 $ 37,250 Granted 2,371,540 $ 11.55 Exercised ( 64,240 ) $ 2.37 Forfeited ( 242,431 ) $ 15.20 Outstanding, December 31, 2023 10,097,771 $ 13.77 7.41 $ 13,502 Options exercisable, December 31, 2023 5,960,917 $ 13.00 6.62 $ 13,000 Options unvested, December 31, 2023 4,136,854 $ 14.88 8.57 $ 502 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common shares for those stock options that had an exercise price lower than the fair value of the Company’s common shares. The aggregate intrinsic value of options exercised during the years ended December 31, 2023 and 2022 was $ 0.5 million and $ 1.7 million , respectively. The total fair value of options vested during the years ended December 31, 2023 and 2022 was $ 24.4 million and $ 20.1 million , respectively. During the year ended December 31, 2023 , an aggregate of 64,240 options were exercised at a weighted-average exercise price of $ 2.37 per share, for aggregate proceeds of $ 0.2 million . As a result, an amount of $ 0.1 million previously included in additional paid-in-capital related to the exercised options has been credited to common shares and deducted from additional paid-in-capital. Restricted Share Units The following table summarizes the Company’s restricted share unit activity: Number of Weighted Weighted Intrinsic value (in thousands) Outstanding, January 1, 2023 — $ — — $ — Awarded 626,260 $ 12.42 Vested and released — $ — Forfeited ( 22,575 ) $ 12.42 Outstanding, December 31, 2023 603,685 $ 12.42 2.09 $ 4,407 The fair value of each restricted share unit is estimated on the date of grant based on the fair value of our common shares on that same date. Share-Based Compensation Share-based compensation expense for all awards was allocated as follows: Year Ended December 31, 2023 2022 (in thousands) Research and development $ 13,239 $ 10,020 General and administrative 11,824 9,671 Total share-based compensation expense $ 25,063 $ 19,691 Share-based compensation expense by type of award was as follows: Year Ended December 31, 2023 2022 (in thousands) Stock options $ 22,422 $ 19,400 Restricted share units 2,298 — ESPP 343 291 Total share-based compensation expense $ 25,063 $ 19,691 As of December 31, 2023, there was $ 37.5 million and $ 5.2 million of unrecognized share-based compensation expense to be recognized over a weighted-average remaining vesting period of 1.4 years and 2.1 years related to unvested stock options and unvested restricted share units, respectively.

Employee Savings Plan

Employee Savings Plan	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Savings Plan	12. Employee Savings Plan The Company offers its employees in the United States the ability to participate in a 401(k) savings plan and offers its employees in Canada the ability to participate in a registered retirement savings plan. The Company makes non-matching employer contributions into both of these plans on behalf of participants equal to 3 % of their base salary. The Company has recorded an expense of $ 0.9 million and $ 0.8 million in matching contributions for the years ended December 31, 2023 and 2022 .

Collaborations

Collaborations	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborations	13. Collaborations The following table presents revenue from collaboration agreements: December 31, 2023 2022 (in thousands) Roche Collaboration and License Agreement $ 14,545 $ 116,668 Bristol-Myers Squibb Collaboration and License Agreement 26,115 15,162 Ono Collaboration Agreement 10,473 — Total revenue $ 51,133 $ 131,830 Roche Collaboration and License Agreement In June 2022, the Company entered into a collaboration and license agreement (the “Roche Agreement”) with Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd (collectively, “Roche”) regarding the development and commercialization of the Company’s product candidate camonsertib (also known as RP-3500) and specified other Ataxia-Telangiectasia and Rad3-related protein kinase (“ATR”) inhibitors (the “Licensed Products”). The transaction was subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions, which were met on July 13, 2022 (“Effective Date”). Pursuant to the Roche Agreement, the Company granted Roche a worldwide, perpetual, exclusive, sublicensable license to develop, manufacture, and commercialize the Licensed Products, as well as a non-exclusive, sublicensable license to certain related companion diagnostics. The Company agreed to complete specified ongoing clinical trials in accordance with the development plan in the Roche Agreement, as well as ongoing investigator sponsored trials (together, the “Continuing Trials”) at the Company’s expense. Roche assumed all subsequent development of camonsertib with the potential to expand development into additional tumors and multiple combination studies. The Company retained the right to conduct specified clinical trials (the “Repare Trials”) of camonsertib in combination with the Company’s PKMYT1 compound (also known as lunresertib). The Roche Agreement also provided the Company, at its sole discretion, with the ability to opt-in to a 50/50 U.S. co-development and profit share arrangement, including participation in U.S. co-promotion if U.S. regulatory approval is received. If the Company would have chosen to exercise its co-development and profit share option, it would continue to be eligible to receive certain clinical, regulatory, commercial and sales milestone payments, in addition to full ex-U.S. royalties. The Roche Agreement was subsequently amended in October 2022 to extend the timeline to negotiate in good faith the parties’ rights and obligations with respect to the Repare Trials, as defined in the Roche Agreement, and to clarify indications included in the development plan that were subject to milestones. Under the terms of the Roche Agreement, the Company received an upfront, nonrefundable payment of $ 125.0 million in July 2022. The Company also received an additional payment of $ 4.0 million negotiated with Roche for revisions to the clinical development plan under the Roche Agreement as agreed to by the parties at the time of the Effective Date. The Company further received $ 5.6 million for the transfer of clinical trial material on hand to Roche, as agreed to pursuant to the Roche Agreement. In addition, in February 2023, the Company became entitled to receive an additional payment of $ 4.0 million, negotiated with Roche for additional revisions to the clinical development plan under the Roche Agreement, which was received in April 2023. The Company negotiated an additional payment of $ 4.0 million for revisions to the clinical development plan under the Roche Agreement, of which $ 2.1 million was recorded as a receivable at December 31, 2023. The Company was eligible to receive up to $ 1.172 billion in potential clinical, regulatory, commercial and sales milestones, of which a $ 40 million milestone was earned in January 2024 upon dosing of the first patient in the camonsertib-based arm of the Roche TAPISTRY trial, as well as royalties on global net sales ranging from high-single-digits to high-teens, subject to certain specified reductions. Royalties were payable by Roche on a product by product and country by country basis until the later of 12 years following the first commercial sale of a licensed product in such country or the expiration of certain exclusivity rights. The Roche Agreement would have expired upon the last to expire royalty term or, as applicable, the end of the U.S. co-development and profit share arrangement. Additionally, Roche could terminate the agreement for convenience in its entirety or on a product by product or country by country basis subject to certain notice periods. Either party could terminate earlier upon the other party’s uncured material breach of the agreement or insolvency. Subject to the terms of the Roche Agreement, effective upon termination of the Roche Agreement, the Company is entitled to retain specified licenses to be able to continue to exploit the Licensed Products. The Company assessed the Roche Agreement in accordance with ASC 606, Revenue from Contracts with Customers , and concluded that Roche is a customer within the context of the agreement. At inception, the Company identified several performance obligations under the agreement, being (i) the combination of the exclusive perpetual license to the Licensed Products and the non-exclusive license to certain companion diagnostics, (ii) the research and development activities related to the completion of the Continuing Trials, as well as (iii) the transfer of clinical trial materials on hand. The Company determined that the exclusive license to the Licensed Products and the non-exclusive license to certain companion diagnostics should be combined into one distinct performance obligation as they were not capable of being distinct from each other within the context of the agreement given both are highly interdependent of each other. The Company determined that the combined licenses, the completion of the Continuing Trials and the transfer of clinical trial materials were all capable of being distinct and were distinct within the context of the Roche Agreement given such activities are independent of each other and Roche could benefit from either separately. The Company determined that the transaction price at the onset of the agreement was $ 134.6 million, being the total non-refundable upfront payment received of $ 125.0 million, the additional $ 4.0 million payment received and the $ 5.6 million received for the transfer of clinical trial materials. Additional consideration is to be paid to the Company upon the achievement of multiple clinical, regulatory and sales milestones. The Company utilized the most likely method approach and concluded that these amounts were constrained based on the probability of achievement. As such, the Company excluded this additional consideration from the transaction price. The Company allocated the transaction price at the onset of the agreement of $ 134.6 million to each performance obligation based on the relative stand-alone selling price of each performance obligation at inception. The Company has determined the estimated stand-alone selling price at contract inception of the combined licenses by applying a probability adjusted discounted cashflow model which forecasts future cash flows related to the licenses. The Company considered applicable market conditions and relevant entity-specific factors, including those factors contemplated in negotiating the agreement, probability of success, discount rate and the time needed to commercialize a product pursuant to the license. The Company determined the estimated stand-alone selling price at contract inception of the research and development activities required to complete the Continuing Trials based on internal estimates of the costs to perform the services, inclusive of a reasonable profit margin. Significant inputs used to determine the total costs to complete the Continuing Trials included the length of time required, the internal hours as well as external costs expected to be incurred, the number of patients and the number of clinical and investigator sponsored trials. The Company determined the stand-alone selling price of the clinical trial materials transferred based on the purchase price from external vendors, without applying a markup as the materials have a built-in margin from the external vendors. In February 2023, the Company received a further payment of $ 4.0 million negotiated with Roche for additional revisions to the clinical development plan. The Company negotiated an additional payment of $ 4.0 million for revisions to the clinical development plan under the Roche Agreement, of which $ 2.1 million was recorded as a receivable at December 31, 2023. The Company determined that the scope and the price of the contract had increased as a result of these additional changes and thus reflected a contract modification under ASC 606. The additional services were assessed to be not distinct from the ongoing performance obligation related to the completion of the Continuing Trials but distinct from the other performance obligations. No adjustment was therefore made to the two previously completed performance obligations, being the combined licenses and the transfer of clinical trial materials. The transaction price was updated for the additional consideration of $ 6.1 million in 2023, which has been allocated to the completion of the Continuing Trials performance obligation. Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations is as follows: Performance obligation Transaction price (in thousands) Combined licenses $ 105,327 Completion of Continuing Trials 32,635 Transfer of clinical trial materials 2,714 Total transaction price $ 140,676 Revenue associated with the combined licenses was recognized at a point in time upon the transfer of the licenses to Roche on the effective date of the Roche Agreement as the Company concluded that the combined licenses were a functional intellectual property license that Roche could benefit from as of the time of grant. Revenue associated with the transfer of clinical trial materials was recognized at a point in time upon delivery of the clinical trial materials to Roche in the year ended December 31, 2022. Revenue associated with the completion of the Continuing Trials has been deferred and will be recognized on a proportional performance basis over the period of time to complete the Continuing Trials, using input-based measurements of total costs of research and development incurred to estimate the proportion performed. Progress towards completion is remeasured at the end of each reporting period. Deferred revenue pertaining to the Roche Agreement Completion of Continuing Trials (in thousands) Balance as of December 31, 2022 $ 17,958 Increase in collaboration revenue receivable 6,050 Recognition as revenue, as the result of performance obligations satisfied ( 14,545 ) Balance as of December 31, 2023 $ 9,463 Classified as short-term $ 7,733 Classified as long-term 1,730 The Company recognized $ 14.5 million as revenue for the year ended December 31, 2023 in recognition of research and development services performed towards the completion of the Continuing Trials under the Roche Agreement. Adjustments to revenue previously recognized based on updated measures of progress related to the completion of the Continuing Trials have been recognized on a cumulative catch-up basis in the year ended December 31, 2023. The Company recognized $ 116.7 million for the year ended December 31, 2022 as revenue associated with the Roche Agreement, of which $ 105.3 million related to the grant of the combined licenses, $ 2.7 million related to the clinical trial materials transferred, and $ 8.6 million related to the partial recognition of deferred revenue for research and development services performed towards the completion of the Continuing Trials during the period. As of December 31, 2023, there was $ 9.4 million (December 31, 2022 – $ 18.0 million ) of deferred revenue related to the Roche Agreement, of which $ 7.7 million (December 31, 2022 – $ 15.3 million ) was classified as current and $ 1.7 million (December 31, 2022 – $ 2.7 million ) was classified as non-current in the consolidated balance sheet based on the period the services to complete the Continuing Trials are expected to be performed. Subsequent to year-end, on February 7, 2024, the Company received written notice from Roche of their election to terminate the Roche collaboration agreement. The termination will become effective in May 2024, at which time the Company will regain global development and commercialization rights for camonsertib from Roche. Following May 7, 2024, and except as disclosed above, there is no other material relationship between the Company and Roche. As such, all deferred revenue related to the Roche Agreement is expected to be recognized in 2024. Bristol-Myers Squibb In May 2020, the Company entered into a collaboration and license agreement (the “BMS Agreement”) with Bristol-Myers Squibb Company (Bristol-Myers Squibb), pursuant to which the Company and Bristol-Myers Squibb have agreed to collaborate in the research and development of potential new product candidates for the treatment of cancer. The Company is providing Bristol-Myers Squibb access to a selected number of its existing screening campaigns and novel campaigns. The Company is responsible for carrying out early-stage research activities directed to identifying potential targets for potential licensing by Bristol-Myers Squibb, in accordance with a mutually agreed upon research plan and will be solely responsible for such costs. The collaboration consists of programs directed to both druggable targets and to targets commonly considered undruggable to traditional small molecule approaches. Upon Bristol-Myers Squibb’s election to exercise its option to obtain exclusive worldwide licenses for the subsequent development, manufacturing and commercialization of a program, Bristol-Myers Squibb will then be solely responsible for all such worldwide activities and costs. The BMS Agreement was subsequently amended in July, September and November 2020 to include additional campaigns to the list of existing campaigns from which Bristol-Myers Squibb may select campaigns under the agreement and to enable unblinding of a Bristol-Myers Squibb alliance manager in order to streamline the collaboration and selection process. The collaboration term expired in November 2023, being 42 months after the effective date of the BMS Agreement. The BMS Agreement will expire, assuming that Bristol-Myers Squibb has exercised at least one option for a program, on a licensed product-by-licensed product and country-by-country basis on expiration of the applicable royalty term and in its entirety upon expiration of the last royalty term. Either party may terminate earlier upon an uncured material breach of the agreement by the other party, or the insolvency of the other party. Additionally, Bristol-Myers Squibb may terminate the BMS Agreement for any or no reason on a program-by-program basis upon specified written notice. Under the terms of the BMS Agreement, Bristol-Myers Squibb paid the Company an initial nonrefundable upfront fee payment of $ 50.0 million in June 2020. The Company is entitled to receive, on a program-by-program basis, option exercise fees ranging in the low six figures depending on the nature of the applicable program. Bristol-Myers Squibb also has the right to retain rights to certain back-up programs in exchange for a one-time payment in the low eight figures per program. The Company is also entitled to receive up to $ 301.0 million in total milestones on a program-by-program basis, consisting of $ 176.0 million in the aggregate for certain specified research, development and regulatory milestones and $ 125.0 million in the aggregate for certain specified commercial milestones. The Company is further entitled to a tiered percentage royalty on annual net sales ranging from high-single digits to low-double digits, subject to certain specified reductions. Royalties are payable by Bristol-Myers Squibb on a licensed product-by-licensed product and country-by-country basis until the later of the expiration of the last valid claim covering the licensed product in such country, expiration of all applicable regulatory exclusivities in such country for such licensed product and the tenth anniversary of the first commercial sale of such licensed product in such country. On a program-by-program basis, prior to the earlier of such program ceasing to be included under the BMS Agreement and expiration of the last to expire royalty term for such program, the Company, alone and with third parties, is prohibited from researching, developing, manufacturing and commercializing products that are directed to the applicable target for such program. The Company has provided Bristol-Myers Squibb with certain, limited rights to first negotiation if the Company determines to divest, license or collaborate with others regarding certain existing programs, including in the event that the Company receives an unsolicited offer to do so. The right of first negotiation expressly excludes any potential change of control transaction, as defined in the agreement. The Company assessed the BMS Agreement in accordance with ASC 606, Revenue from Contracts with Customers, and concluded that Bristol-Myers Squibb is a customer based on the agreement structure. At inception, the Company identified several performance obligations under the BMS Agreement, being (i) research activities for each campaign over the collaboration term, as well as (ii) a selected number of material rights associated with options to obtain exclusive development, manufacturing, and commercial licenses to targets identified. The Company determined that the options to obtain the exclusive development, manufacturing and commercialization licenses were material rights under ASC 606 because there are minimal amounts to be paid to the Company upon exercise of such options. The Company determined that the transaction price at the onset of the BMS Agreement is the total non-refundable upfront payment received of $ 50.0 million. Additional consideration is to be paid to the Company upon the exercise of options to license targets and future milestone payments. The Company utilized the most likely method approach and concluded that these amounts were constrained as they represent option fees and milestone payments that can only be achieved subsequent to option exercises. As such, the Company excluded this additional consideration from the transaction price. The Company has allocated the transaction price of $ 50.0 million to each performance obligation based on the relative stand-alone selling price of each performance obligation at inception, which was determined based on each performance obligation’s estimated stand-alone selling price. The Company has determined the estimated stand-alone selling price at contract inception of the research activities based on internal estimates of the costs to perform the services, inclusive of a reasonable profit margin. Significant inputs used to determine the total costs to perform the research activities included the length of time required, the internal hours expected to be incurred on the services and the number and costs of various studies that will be performed to complete the research plan. The Company determined the estimated stand-alone selling price at contract inception of the material rights associated with options to obtain exclusive licenses to druggable targets and undruggable targets based on the fees Bristol-Myers Squibb would pay to exercise these options, the probability-weighted value of expected future cash flows associated with each license related to each target and the probability that these options would be exercised by Bristol-Myers Squibb. In developing such estimates, the Company also considered applicable market conditions and relevant entity-specific factors, including those factors contemplated in negotiating the agreement, probability of success and the time needed to commercialize a product candidate pursuant to the associated license. Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations was as follows: Performance obligation Transaction price (in thousands) Research activities $ 6,405 Options to license druggable targets 31,148 Options to license undruggable targets 12,447 Total transaction price $ 50,000 Revenue associated with the options has been deferred and will be recognized at the point in time when options to license are exercised by Bristol-Myers Squibb or upon expiry of such options. Revenue associated with the research activities has been deferred and will be recognized on a proportional performance basis over the period of service for research activities, being the collaboration term, using input-based measurements of total costs of research incurred to estimated proportion performed. Progress towards completion is remeasured at the end of each reporting period. Deferred revenue pertaining to the BMS Agreement Research activities Options to license druggable targets Options to license undruggable targets Total (in thousands) Balance as of December 31, 2022 $ 2,448 $ 12,459 $ 12,447 $ 27,354 Increase in collaboration revenue receivable — 1,250 — 1,250 Recognition as revenue, as the result of performance ( 2,448 ) ( 13,709 ) ( 9,958 ) ( 26,115 ) Balance as of December 31, 2023 $ — $ — $ 2,489 $ 2,489 Classified as short-term $ — $ — $ 2,489 $ 2,489 The Company recognized $ 2.4 million and $ 2.7 million as revenue for the years ended December 31, 2023 and 2022, respectively, in recognition of deferred revenue for research activities performed under the BMS Agreement. In fiscal 2023, Bristol-Myers Squibb exercised its option for a druggable target and also waived its rights to exercise an option for another druggable target. As a result, the Company recognized $ 12.7 million as revenue related to druggable targets for the year ended December 31, 2023 , including the option fee payment of $ 0.25 million. In fiscal 2022, Bristol-Myers Squibb waived its rights to exercise options for druggable targets directed at two separate lesions. As a result, the Company recognized $ 12.5 million as revenue related to druggable targets for the year ended December 31, 2022. In fiscal 2023, Bristol-Myers Squibb also triggered a $ 1.0 million further development election for a previously exercised druggable target. As such, the Company recognized $ 1.0 million for this specified research milestone as revenue for the year ended December 31, 2023 (2022 - nil ). The Company completed the discovery portion of the BMS Agreement in November 2023. With the completion of its performance obligations under the BMS Agreement in the fourth quarter of 2023, the Company recognized $ 10.0 million as revenue for the year ended December 31, 2023 related to options to license undruggable targets (2022 - nil ) as these options expired upon completion of the discovery portion of the BMS Agreement. As of December 31, 2023, Bristol Myers Squibb retains its right to exercise one option to an undruggable target which will expire in March 2024 if unexercised by then. As of December 31, 2023, there was $ 2.5 million (December 31, 2022 - $ 27.4 million ) of deferred revenue related to the BMS Agreement, of which $ 2.5 million (December 31, 2022 - $ 27.4 million ) was classified as current on the consolidated balance sheet based on the period the services are expected to be performed and the expected timing of potential option exercises. Ono In January 2019, the Company entered into a research services, license and collaboration agreement (the “Ono Agreement”) with Ono Pharmaceutical Company, Ltd. (“Ono”), pursuant to which the Company and Ono agreed to collaborate in the research of potential product candidates targeting Polθ and the development of the Company’s small molecule Polθ ATPase inhibitor program. The Company was primarily responsible for carrying out research activities to identify a product candidate, to be licensed to Ono, in accordance with a mutually agreed upon research plan during a research term that will end upon the earlier of the date of the first submission of an Investigational New Drug application (“IND”) in the United States or Japan, or the end of the research term. In the event that Ono elected to collaborate on the subsequent development and commercialization of the proposed product candidate, Ono would then have been responsible for such activities in Japan, South Korea, Taiwan, Hong-Kong, Macau and the Association of Southeast Asian Nations (collectively, the “Ono territory”), and the Company would have been responsible for all such activities in the rest of the world outside the Ono territory, including the United States, Canada and European Union. In such instance, Ono would have been responsible for a specified percentage of research and developments costs for the IND-enabling studies of the selected product candidate. In October 2021, the Company and Ono entered into an amendment to the Ono Agreement whereby the research term, as defined in the Ono Agreement, was extended by one year . In January 2023, the Company and Ono entered into a second amendment to the Ono Agreement whereby the Research Term, as defined in the Ono Agreement, was extended until July 31, 2023. Under the terms of the Ono Agreement, the Company received non-refundable upfront payments of ¥ 900 million ($ 8.1 million), consisting of an initial upfront fee payment of ¥ 110 million ($ 1.0 million) and an initial upfront research service payment of ¥ 790 million ($ 7.1 million). The Company assessed the arrangement in accordance with ASC 606 and concluded that Ono is a customer based on the arrangement structure. The Company identified a single performance obligation under the arrangement consisting of the combination of the license to develop and commercialize a selected product candidate targeting Polθ and associated research services. The Company determined that the license and research services are not distinct within the context of the contract, and the license is the predominant good or service. Accordingly, revenue is recognized in accordance with guidance for licenses, and because the license represents functional IP, it is recognized at the point in time control of the license is transferred. The Company determined that the transaction price at the onset of the arrangement is the total upfront payments received in the aggregate amount of $ 8.1 million which was recorded as deferred revenue. The future milestone payments represent variable consideration that is fully constrained at inception of the arrangement as the achievement of the milestone events are highly uncertain. In October 2021 and December 2022, the Company achieved specified research triggers amounting to ¥ 100 million ($ 0.9 million) and ¥ 200 million ($ 1.5 million), respectively, as research service payments provided for in the Ono Agreement. The ¥ 200 million ($ 1.5 million) is included in the collaboration revenue receivable at December 31, 2022 and was subsequently received in January 2023. These amounts have been added to the transaction price as the consideration was no longer constrained. Deferred revenue pertaining to the Ono Agreement Research activities (in thousands) Balance as of December 31, 2022 $ 10,473 Recognition as revenue, as the result of performance obligations satisfied ( 10,473 ) Balance as of December 31, 2023 $ — In June 2023, the Company and Ono determined not to further extend the Term of the Ono Agreement. As a result, no product candidate will be licensed to Ono pursuant to the terms of agreement. The Company recognized $ 10.5 million as revenue for the year ended December 31, 2023 , respectively ( nil for the year ended December 31, 2022 ) with regards to the performance obligation under the Ono Agreement. In July 2023, Ono provided the Company with a formal notice to terminate the Ono Agreement without cause as defined in the Ono Agreement. As a result of this termination, all rights to the Polθ program have reverted to the Company.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes Loss before the provision for income taxes consisted of the following: Year Ended December 31, 2023 2022 (in thousands) Canada $ ( 108,362 ) $ ( 17,550 ) Foreign 5,183 3,650 Loss before provision for income taxes $ ( 103,179 ) $ ( 13,900 ) The components of the provision for income taxes are as follows: Year Ended December 31, 2023 2022 (in thousands) Current income tax provision - foreign $ ( 9,383 ) $ 11,527 Deferred income tax benefit - foreign — 3,620 Total provision for income taxes $ ( 9,383 ) $ 15,147 A reconciliation between tax expense and the product of accounting income multiplied by the statutory income tax rate is as follows: Year Ended December 31, 2023 2022 (in thousands) Loss before income taxes $ ( 103,179 ) $ ( 13,900 ) Income tax at statutory rate 26.5 % 26.5 % Computed income tax recovery ( 27,342 ) ( 3,684 ) Effect on income tax resulting from: Federal investment tax credit ( 6,648 ) ( 4,899 ) Accounting charges not deductible for tax purposes 5,132 679 Capital gain income — ( 13,956 ) Equity compensation 4,292 3,492 State taxes 643 ( 777 ) Other 26 ( 142 ) Change in valuation allowance 14,514 34,434 Tax (benefit) expense $ ( 9,383 ) $ 15,147 The Company’s applicable statutory tax rate is the Canadian combined rate applicable in the jurisdictions in which the Company operates. Income tax receivable in the amount of $ 13.1 million as of December 31, 2023 reflects the overpayment of tax installments by the Company’s U.S. subsidiary, which resulted from its compliance with the requirement to capitalize and amortize certain specified research and experimental expenditures subject to Section 174 of the Internal Revenue Code of 1986, as amended (“IRC”) (as per the Tax Cuts and Jobs Act of 2017), prior to the issuance of interim guidance on September 8, 2023 by the Department of Treasury and the Internal Revenue Service on IRC Section 174 that supports the deduction of certain expenses that would otherwise be treated as specified research and experimental expenditures. The current portion of the income tax receivable is approximately $ 10.8 million, which primarily consists of an overpayment of tax installments by the Company’s U.S. subsidiary for the 2022 fiscal year, and the long-term portion is approximately $ 2.3 million. As of December 31, 2023, the Company had tax losses of approximately $ 263.8 million , which are available to offset future taxable income in Canada. The Company has not recognized the tax benefit of these losses. These losses expire as follows: (in thousands) 2043 $ 115,959 2042 34,571 2041 93,833 2040 — 2039 11,394 2038 7,111 2037 883 Total $ 263,751 As of December 31, 2023, the Company had Scientific Research and Experimental Development (“SR&ED”) expenditures of approximately $ 70.7 million for Canadian federal and Québec purposes, which have not been deducted. These expenditures are available to reduce future taxable income and have an unlimited carryforward period. SR&ED expenditures are subject to verification by the tax authorities and, accordingly, the amounts may vary. As of December 31, 2023, the Company had non-refundable Canadian federal investment tax credits of approximately $ 11.7 million , which may be utilized to reduce Canadian federal income taxes payable. The Company has not recognized the tax benefits related to the non-refundable investment tax credits. The investment tax credits expire as follows: (in thousands) 2043 $ 2,649 2042 2,433 2041 2,253 2040 1,702 2039 1,362 2038 776 2037 455 2036 24 Total $ 11,654 The Company’s deferred tax assets as of December 31, 2023 and 2022 consisted of the following: 2023 2022 (in thousands) Net operating loss carryforwards $ 69,894 $ 42,003 Net research and development expenditures 18,724 14,468 Share issuance costs 1,200 2,369 Net federal investment tax credits 8,567 6,589 U.S. research and development tax credits 4,565 — Tax basis of property and equipment in excess of carrying values 39 ( 376 ) Operating lease right-of-use assets ( 883 ) ( 1,429 ) Operating lease liability 906 1,445 Accrued expense and other liabilities 1,134 785 Deferred revenue 3,167 14,783 Share-based compensation 4,240 2,492 R&D costs capitalized — 13,911 Total deferred tax assets 111,553 97,040 Valuation allowance ( 111,553 ) ( 97,040 ) Net deferred tax assets $ — $ — Management has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets and has determined that it is more likely than not that the Company will not recognize the benefit of its net deferred tax assets, and as a result, a valuation allowance of $ 111.6 million and $ 97.0 million has been established at December 31, 2023 and December 31, 2022, respectively. The Company has incurred net operating losses in Canada since inception and the Company’s U.S. subsidiary operated profitably in the United States since its inception. As of December 31, 2023 , the Company had U.S. federal and state research and development tax credit carry forwards of $ 4.6 million. The Company files income tax returns in Canada and in the United States. In the normal course of business, the Company could be subject to examination by federal and provincial or state jurisdictions, where applicable. There are currently no pending tax examinations. The Company may be subject to tax examination for fiscal years 2017 to 2023 due to unexpired statute of limitation periods. The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations for both federal taxes and the provinces and states in which the Company operates or does business in. ASC 740 states that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. The Company records uncertain tax positions as liabilities in accordance with ASC 740 and adjusts these liabilities when the Company’s judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the unrecognized tax benefit liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available. As of December 31, 2023 and 2022 , no uncertain tax positions have been recorded in the consolidated financial statements. The Company recognizes interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying consolidated statement of operations and comprehensive loss. As of December 31, 2023 and 2022 , no accrued interest or penalties are included on the related tax liability line in the consolidated balance sheet.

Net Loss per Share

Net Loss per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Loss per Share	15. Net Loss per Share The following table summarizes the computation of basic and diluted net loss per share attributable to common shareholders of the Company: Year Ended December 31, 2023 2022 (in thousands, except share and per share data) Numerator: Net loss $ ( 93,796 ) $ ( 29,047 ) Denominator: Weighted-average number of common shares outstanding—basic and 42,093,293 41,922,042 Net loss per share—basic and diluted $ ( 2.23 ) $ ( 0.69 ) The Company’s potentially dilutive securities, which include options to purchase common shares, restricted share units, and shares issuable under the ESPP, have been excluded from the computation of diluted net loss per share attributable to common shareholders as the effect would be to reduce the net loss per share attributable to common shareholders. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common shareholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect: Year Ended December 31, 2023 2022 Options to purchase common shares 10,097,771 8,032,902 Restricted share units 603,685 — Estimated shares issuable under the ESPP 55,327 47,216

Government Assistance

Government Assistance	12 Months Ended
	Dec. 31, 2023
Research and Development [Abstract]
Government Assistance	16. Government Assistance The Company incurred research and development expenditures which are eligible for refundable investment tax credits. The refundable investment tax credits recorded are based on management’s estimates of amounts expected to be recovered and are subject to audit by the taxation authorities. These amounts have been recorded as a reduction of research and development expenditures in the amounts of $ 1.5 million , and $ 1.4 million for the years ended December 31, 2023 and 2022 , respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies The following table summarizes the Company’s commitments to settle contractual obligations at December 31, 2023, other than leases which are recognized as operating lease liabilities in the consolidated balance sheet. Year Ending December 31, (in thousands) 2024 $ 3,107 2025 33 2026 57 2027 33 2028 41 Following years 173 Total $ 3,444 The commitment amounts in the table above are associated with contracts that are enforceable and legally binding and that specify all significant terms, including fixed or minimum services to be used, fixed, minimum or variable price provisions, and the approximate timing of the actions under the contracts. Collaboration and Research Agreements Collaboration and research agreement obligations primarily relate to a strategic collaboration agreement that was entered into with the University of Texas M. D. Anderson Cancer Center (“MDACC”) in March 2020. The collaboration consists of preclinical studies and clinical trials designed by the Company and MDACC with the research to be completed by MDACC. The Company has agreed to commit $ 10.0 million in funding for various studies over a period of five years , of which $ 7.7 million was paid as of December 31, 2023. The Company entered into an agreement with the Broad Institute, Inc. (“Broad”), in July 2022, under which Broad will perform specialty screening services at the Company’s request over the course of a three-year term in exchange for payments of $ 0.8 million per year, beginning in July 2022, totaling $ 2.3 million in the aggregate, of which $ 1.5 million was paid as of December 31, 2023. Purchase and Other Obligations In the normal course of business, the Company enters into contracts with Contract Research Organizations (“CROs”) and other third parties for preclinical studies and clinical trials, research and development supplies and other testing and manufacturing services. These contracts generally do not contain minimum purchase commitments and provide for termination on 30 to 90 days’ prior written notice, and therefore are cancellable contracts. These payments are not included in the table above as the amount and timing of such payments are not known as of December 31, 2023. The Company has further entered into license agreements under which it is obligated to make milestone and royalty payments and incur annual maintenance fees. The future milestone or royalty payments under these agreements have not been included in the table above since the payment obligations are contingent upon future events, such as achieving certain clinical and commercial milestones or generating product sales. As of December 31, 2023, the Company is unable to estimate the timing or likelihood of achieving these clinical and commercial milestones or generating future product sales (see Note 8). Indemnification Agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is not aware of any indemnification arrangements that could have a material effect on its financial position, results of operations or cash flows, and it has not accrued any liabilities related to such obligations in these consolidated financial statements as at December 31, 2023 .

Currency Risk

Currency Risk	12 Months Ended
	Dec. 31, 2023
Foreign Currency Risk [Abstract]
Currency Risk	18. Currency Risk The Company is exposed to the financial risk related to the fluctuation of foreign exchange rates and the degree of volatility of those rates. The foreign currency risk is limited to the portion of the Company’s business transactions denominated in currency other than U.S. dollars. The Company incurs a portion of its expenses in Canadian dollars, as well as other currencies to a lesser extent. A change in the currency exchange rates between the U.S. dollars relative to the Canadian dollar could have a significant effect on the Company’s consolidated results of operations, financial position, or cash flows. The Company does not enter into arrangements to hedge its currency risk exposure, although it maintains expected Canadian dollar cash requirements in Canadian dollars to form a natural hedge. The Company is exposed to currency risk through its cash, other current receivables, accounts payable, accrued expenses and other current liabilities, as well as right-of-use lease liabilities denominated in Canadian dollars as follows: December 31, 2023 2022 (in thousands) Cash $ 3,120 $ 1,904 Other current receivables 743 851 Accounts payable ( 290 ) ( 324 ) Accrued expenses and other current liabilities ( 4,310 ) ( 4,095 ) Lease liabilities ( 2,971 ) ( 4,392 ) Net financial position exposure $ ( 3,708 ) $ ( 6,056 ) Based on the above net exposure at December 31, 2023 , and assuming that all other variables remain constant, a 10 % depreciation of the U.S. dollar against the Canadian dollar would result in an increase of $ 0.3 million in the Company’s net loss for the year ended December 31, 2023 .

Geographic Information

Geographic Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Geographic Information	19. Geographic Information The Company’s property and equipment, net by location was as follows: December 31, 2023 2022 (in thousands) Canada $ 3,469 $ 2,888 United States 746 1,340 Total property and equipment, net $ 4,215 $ 4,228 The Company’s right-of-use assets by location were as follows: December 31, 2023 2022 (in thousands) Canada $ 2,376 $ 3,578 United States 950 1,793 Total right-of-use assets, net $ 3,326 $ 5,371 For the year ended December 31, 2023 the Canadian parent company recognized revenue under its collaboration agreements of $ 26.1 million (2022 - $ 15.2 million ) with Bristol-Myers Squibb, whose headquarters are located in the United States; $ 14.5 million (2022 - $ 116.7 million ) with Roche, whose headquarters are located in Switzerland; and $ 10.5 million (2022 - nil ) with Ono, whose headquarters are located in Japan.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events a) Debiopharm collaboration agreement In January 2024, the Company announced that it had entered into a clinical study and collaboration agreement with Debiopharm, a privately-owned, Swiss-based biopharmaceutical company, with the aim to explore the synergy between lunresertib and Debio 0123, a potential best-in-class, brain-penetrant and highly selective WEE1 inhibitor. The Company and Debiopharm will collaborate on the design of the trial for the development of the combination, with the Company sponsoring the global study as a new arm in its ongoing MYTHIC trial, and will share all costs equally. The Company and Debiopharm will each supply their respective drugs, and each retain all commercial rights to their respective compounds, including as monotherapy or as combination therapies. b) Roche Agreement In February 2024, the Company received a $ 40 million milestone payment from Roche that was earned upon dosing of the first patient with camonsertib in Roche’s Phase 2 TAPISTRY trial in January 2024. On February 7, 2024, the Company received written notice from Roche of their election to terminate the Roche Agreement following a review of Roche’s pipeline and evolving external factors. The termination will become effective in May 2024, at which time the Company will regain global development and commercialization rights for camonsertib from Roche.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”).
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Repare Therapeutics USA Inc. (“Repare USA”), which was incorporated under the laws of Delaware on June 1, 2017. The financial statements of Repare USA are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group transactions, balances, income, and expenses are eliminated in full upon consolidation.
Smaller Reporting Company	Smaller Reporting Company Because the market value of our common shares held by non-affiliates was between $250 million and $700 million as of June 30, 2023 and our revenue for the year ended December 31, 2022 was more than $100 million, we will lose our status as a “smaller reporting company” and no longer be eligible to rely on the scaled disclosure exemptions available to smaller reporting companies starting with the filing of our first Quarterly Report in 2024.
Foreign Currencies	Foreign Currencies The functional currency for the Company and Repare USA is the U.S. dollar (“USD”). Accordingly, transactions denominated in currencies other than the functional currency are measured and recorded in the functional currency at the exchange rate in effect on the date of the transactions. At each consolidated balance sheet date, monetary assets and liabilities denominated in currencies other than the functional currency are remeasured using the exchange rate in effect at that date. Non-monetary assets and liabilities and revenue and expense items denominated in foreign currencies are translated into the functional currency using the exchange rate prevailing at the dates of the respective transactions. Any gains or losses arising on remeasurement are included in the consolidated statement of operations.
Segment Information	Segment Information The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s singular focus is the research, development and commercialization of precision oncology drugs targeting specific vulnerabilities of tumors in genetically defined patient populations.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation, and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents. Cash and cash equivalents include cash held in banks, amounts held in money market funds and commercial paper with original maturities less than 90 days.
Marketable Securities	Marketable Securities The Company classifies marketable debt securities with a remaining maturity of greater than three months when purchased as available-for-sale. Marketable debt securities with a remaining maturity date greater than one year are classified as non-current where the Company has the intent and ability to hold these securities for at least the next 12 months. The Company’s marketable securities consist of U.S. treasury securities, government-sponsored enterprises securities, and commercial paper with original maturities greater than 90 days. All of the Company’s marketable securities have a contractual maturity of one year or less. The Company considers its investment portfolio of U.S. treasury securities, government-sponsored enterprises securities, and commercial paper to be available-for-sale. Accordingly, these investments are recorded at fair value, which is based on observable inputs, other than quoted market prices. Unrealized gains and losses are reported in accumulated other comprehensive items in shareholders’ equity. Amortization and accretion of premiums and discounts are recorded in interest income (expense). Realized gains or losses on debt securities are included in other income (expense). The Company reviews investments whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not recoverable within a reasonable period of time. In connection therewith, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors, considering the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss on the consolidated balance sheet, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that is not related to credit is recognized in other comprehensive loss. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in other income (expense), net within the consolidated statement of operations. Losses are charged against the allowance when the Company believes the uncollectibility of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met.
Concentrations of Credit Risk and Off-Balance Sheet Risk	Concentrations of Credit Risk and Off-Balance Sheet Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and marketable securities. Our investment portfolio comprises money market funds, U.S. treasury securities, government-sponsored enterprises securities, and commercial paper. Our investment policy limits investment instruments to investment-grade securities with the objective to preserve capital and to maintain liquidity until the funds can be used in business operations. The Company maintains deposits in accredited financial institutions which exceed insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company’s exposure to foreign exchange risk is primarily related to fluctuations between the Canadian dollar and the U.S. dollar. There are balances in Canadian dollars which are subject to foreign currency fluctuations relating to the impact of translating to U.S. dollars for financial statement presentation. As of December 31, 2023 and 2022 , the Company had no significant off-balance sheet risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss as well as other changes in shareholders’ equity that result from transactions and economic events other than those with shareholders. Other comprehensive loss consists of unrealized losses on available-for-sale marketable securities. Total comprehensive loss for all periods presented has been disclosed in the consolidated statements of operations and comprehensive loss.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities of the Company are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. An entity may choose to measure financial instruments and certain other items at fair value at specified election dates. Subsequent unrealized gains and losses on items for which the fair value option has been elected will be reported in earnings. The estimated fair values of the Company’s cash and cash equivalents, other current receivables, other assets, accounts payable, and accrued expenses and other current liabilities approximate their carrying values. The Company’s marketable securities are carried at fair value, determined according to Level 2 inputs in the fair value hierarchy described above.
Property and Equipment, Net	Property and Equipment, Net Property and equipment is stated at historical cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, which are as follows: Asset Category Estimated Useful Lives Computer equipment 3 years Office equipment 5 years Laboratory equipment 5 years Leasehold improvements the shorter of the lease term and the useful life When assets are retired or disposed of, the assets and related accumulated depreciation are derecognized from the accounts, and any resulting gain or loss is included in the determination of net loss. Expenditures for maintenance and repairs are recorded to expense as incurred.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates its finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable. Recoverability of these assets is measured by comparing their carrying value to the future net undiscounted cash flows the assets are expected to generate over their remaining economic life. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying value of the assets exceeds their fair value. Indefinite-lived intangible assets are tested for impairment annually, or more frequently if indicators of impairment are present. To date, no such impairment losses have been recorded.
Leases	Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the consolidated balance sheet as a right-of-use asset and current and non-current lease liabilities, as applicable. Operating lease liabilities and their corresponding right-of-use assets are initially recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments to the right-of-use asset may be required for items such as incentives received. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Prospectively, the Company will adjust the right-of-use assets for straight-line rent expense or any incentives received and remeasure the lease liability at the net present value using the same incremental borrowing rate that was in effect as of the lease commencement or transition date. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will renew. Assumptions made by the Company at the commencement date are re-evaluated upon occurrence of certain events, including a lease modification. A lease modification results in a separate contract when the modification grants the lessee an additional right of use not included in the original lease and when lease payments increase commensurate with the standalone price for the additional right of use. When a lease modification results in a separate contract, it is accounted for in the same manner as a new lease. In accordance with ASC 842, components of a lease should be split into three categories: lease components, non-lease components and non-components. The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. Entities may elect not to separate lease and non-lease components. The Company has elected to account for lease and non-lease components together as a single lease component for all underlying assets and allocate all of the contract consideration to the lease component only.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The Company enters into collaboration and license agreements, which are within the scope of ASC 606, to discover, develop, manufacture, and commercialize product candidates. The terms of these agreements typically contain multiple promises or obligations, which may include: (i) licenses to compounds directed to specific targets (referred to as “exclusive licenses”) and (ii) research and development activities to be performed on behalf of the collaboration partner related to the licensed targets. Payments to the Company under these agreements may include non-refundable license fees, customer option exercise fees, payments for research activities, reimbursement of certain costs, payments based upon the achievement of certain milestones and royalties on any resulting net product sales. The Company first evaluates license and/or collaboration arrangements to determine whether the arrangement (or part of the arrangement) represents a collaborative arrangement pursuant to ASC 808, Collaborative Arrangements (“ASC 808”), based on the risks and rewards and activities of the parties pursuant to the contractual arrangement. The Company accounts for collaborative arrangements (or elements within the contract that are deemed part of a collaborative arrangement), which represent a collaborative relationship and not a customer relationship, outside the scope of ASC 606. The Company’s collaborations primarily represent revenue arrangements. For the arrangements or arrangement components that are subject to revenue accounting guidance, in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements, the Company applies the five-step model. As part of the accounting for these arrangements, the Company must use significant judgment to determine: a) the number of performance obligations based on the determination under step (ii) above and whether those performance obligations are distinct from other performance obligations in the contract; b) the transaction price under step (iii) above; and c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of transaction price in step (iv) above. The Company uses judgment to determine whether milestones or other variable consideration, except for sales-based royalties, should be included in the transaction price as described further below. The transaction price is allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. In determining the stand-alone selling price of a license to the Company’s proprietary technology or a material right provided by a customer option, the Company considers market conditions as well as entity-specific factors, including those factors contemplated in negotiating the agreements as well as internally developed estimates that include assumptions related to the market opportunity, estimated development costs, probability of success and the time needed to commercialize a product candidate pursuant to the license. In validating its estimated stand-alone selling price, the Company evaluates whether changes in the key assumptions used to determine its estimated stand-alone selling price will have a significant effect on the allocation of arrangement consideration between performance obligations. Amounts received prior to revenue recognition are recorded as deferred revenue. Amounts expected to be recognized as revenue within one year following the balance sheet date are classified as current portion of deferred revenue in the accompanying consolidated balance sheets. Amounts not expected to be recognized as revenue within one year following the balance sheet date are classified as deferred revenue, net of current portion. Amounts recognized as revenue, but not yet received or invoiced are generally recognized as contract assets. Exclusive Licenses – If the license to the Company’s intellectual property is determined to be distinct from the other promises or performance obligations identified in the arrangement, which generally include research and development services, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. In assessing whether a license is distinct from the other promises, the Company considers relevant facts and circumstances of each arrangement, including the research and development capabilities of the collaboration partner and the availability of the associated expertise in the general marketplace. In addition, the Company considers whether the collaboration partner can benefit from the license for its intended purpose without the receipt of the remaining promises, whether the value of the license is dependent on the unsatisfied promises, whether there are other vendors that could provide the remaining promises and whether it is separately identifiable from the remaining promises. For licenses that are combined with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation and whether the license is the predominant promise within the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue. If the license is the predominant promise, and it is determined that the license represents functional intellectual property (“IP”), revenue is recognized at the point in time when control of the license is transferred. If it is determined that the license does not represent functional IP, revenue is recognized over time using an appropriate method of measuring progress. Research and Development Services – The obligations under the Company’s collaboration and license agreements generally include research and development services to be performed by the Company to benefit the collaboration partner. For performance obligations that include research and development services, the Company generally recognizes revenue allocated to such performance obligations based on an appropriate measure of progress. The Company utilizes judgment to determine the appropriate method of measuring progress for purposes of recognizing revenue, which is generally an input measure such as costs incurred. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. The measure of progress, and thereby periods of which revenue should be recognized, are subject to estimates by management and may change over the course of the contract. Reimbursements from the partner that are the result of a collaborative relationship with the partner, instead of a customer relationship, such as co-development activities, are recorded as a reduction to research and development expense. Customer Options – The Company’s arrangements may provide a collaborator with the right to acquire additional goods or services in the future. Under these agreements, fees may be due to the Company (i) at the inception of the arrangement as an upfront fee or payment or (ii) upon the exercise of the customer option. If an arrangement is determined to contain customer options that allow the customer to acquire additional goods or services, the goods and services underlying the customer options are not considered to be performance obligations at the outset of the arrangement, as they are contingent upon option exercise. The Company evaluates the customer options for material rights, or options to acquire additional goods or services for free or at a discount. If the customer options are determined to represent a material right, the material right is recognized as a separate performance obligation at the inception of the arrangement. The Company allocates the transaction price to material rights based on the relative stand-alone selling price, which is determined based on the identified discount and the probability that the customer will exercise the option. Amounts allocated to a material right are not recognized as revenue until, at the earliest, the option is exercised or expires. Milestone Payments – At the inception of each arrangement that includes development milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The Company evaluates factors such as the scientific, clinical, regulatory, commercial, and other risks that must be overcome to achieve the particular milestone in making this assessment. There is considerable judgment involved in determining whether it is probable that a significant revenue reversal would not occur. At the end of each subsequent reporting period, the Company reevaluates the probability of achievement of all milestones subject to constraint and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. If a milestone or other variable consideration relates specifically to the Company’s efforts to satisfy a single performance obligation or to a specific outcome from satisfying the performance obligation, the Company generally allocates the milestone amount entirely to that performance obligation once it is probable that a significant revenue reversal would not occur. Royalties – For arrangements that include sales-based royalties, including milestone payments based on a level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any royalty revenue resulting from any of its licensing arrangements. For a complete discussion of accounting for collaboration revenues, s ee Note 13.
Research and Development Expenses	Research and Development Expenses Research and development costs are expensed as incurred. The Company’s research and development expenses consist primarily of costs incurred in performing research and development activities, including salaries and other compensation, share-based compensation, fees paid to external service providers, laboratory supplies and costs for facilities and equipment, partially offset by fully refundable research and development tax credits. Non-refundable prepayments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are expensed as the goods are delivered or the services are performed, or until it is no longer expected that the goods will be delivered, or the services rendered.
Accrued and Prepaid Research and Development Expenses	Accrued and Prepaid Research and Development Expenses The Company has entered into various research and development contracts with research institutions, outside consultants, contract research organizations and clinical manufacturing organizations that conduct and manage preclinical studies and clinical trials on the Company’s behalf based on actual time and expenses incurred. The payments for these vendors are recorded as research and development expenses as incurred. There may be instances in which payments made to our vendors will exceed the level of services provided and result in a prepayment of the research and development expense. The Company records accrued liabilities and prepaid expenses for the estimated costs of research and development activities based upon the estimated services provided but not yet invoiced. When evaluating the adequacy of the accrued liabilities and prepaid expenses, the Company analyzes progress of the studies, including the phase or completion of events, invoices received and contracted costs. The Company accrues the expenses for its clinical trial activities performed by third-party vendors, including contract research organizations and clinical sites, based upon estimates of the proportion of work completed over the life of the individual clinical trial, activities performed by patient and patient enrollment rates in accordance with associated agreements. Significant judgements and estimates are made in determining the accrued and prepaid balances at the end of any reporting period. Actual results could differ from the Company’s estimates.
Share-Based Compensation	Share-Based Compensation The Company accounts for all share-based awards granted to employees and non-employees as share-based compensation expense at fair value. The measurement date for employee and non-employee awards is the date of grant, and share-based compensation costs are recognized over the employees’ requisite service period, which is the vesting period, on a straight-line basis. Forfeitures are accounted for as they occur. The fair value of each restricted share unit is estimated on the date of grant based on the fair value of the Company’s common share on that same date. The fair value of each stock option grant or purchases under the Company’s 2020 Employee Share Purchase Plan (“ESPP”) is estimated on the date of grant using the Black-Scholes option-pricing model, which requires inputs based on certain subjective assumptions, including the expected share price volatility, the expected term of the option, the risk-free interest rate for a period that approximates the expected term of the option and the Company’s expected dividend yield. As there was no public market for its common shares prior to its IPO in June 2020, the Company determined the volatility for stock option awards granted based on an analysis of reported data for a group of guideline companies that issued options with substantially similar terms. The expected volatility has been determined using a weighted-average of the historical volatility measures of this group of guideline companies blended with the historical volatility of the Company’s common shares. The Company expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. For purchases under our ESPP, only the historical volatility of the Company’s common shares is used when developing an estimate of expected volatility. The expected term of the Company’s stock options granted to employees and non-employees has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. In connection with the adoption of ASU No. 2018-07, Compensation—Stock Compensation (“ASU No. 2018-07”), the Company calculated the expected term of non-employee awards using the midpoint between the vesting date and the contractual term, which is consistent with the method used for employee awards. For purchases under our ESPP, the expected term is based on the length of the offering period. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award, for time periods approximately equal to the expected term of the award. The Company has not paid, and does not anticipate paying, cash dividends on its common shares; therefore, the expected dividend yield is assumed to be zero . Share-based compensation is classified in the accompanying consolidated statements of operations and comprehensive loss based on the function to which the related services are provided. Any consideration paid by employees on exercising stock options or the purchases under our ESPP and the corresponding portion previously credited to additional paid-in capital are credited to share capital.
Share Issuance Costs	Share Issuance Costs Share issuance costs applicable to the issuance of equity instruments are recorded as a reduction of the financing equity proceeds.
Net Loss per Share	Net Loss per Share Basic net loss per share attributable to common shareholders is computed by dividing the net loss attributable to common shareholders by the weighted-average number of common shares outstanding during the reporting period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common shareholders by the weighted-average number of common shares and potentially dilutive securities outstanding during the period determined using the treasury-stock and if-converted methods. For purposes of the diluted net loss per share calculation, options to purchase common shares, restricted share units and shares issuable under the ESPP considered to be potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and therefore, basic and diluted net loss per share were the same for all reporting periods presented.
Income Taxes	Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on differences between the consolidated financial statement carrying amounts and the tax bases of the assets and liabilities using the enacted tax rates in effect in the years in which the differences are expected to reverse. A valuation allowance against deferred tax assets is recorded if, based on the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties.
Research and Development Tax Credits	Research and Development Tax Credits The Company recognizes the benefit of refundable Canadian research and development tax credits as a reduction of research and development costs when there is reasonable assurance that the amount claimed will be recovered.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements There were no new accounting pronouncements adopted.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB amended the guidance in ASU 280, Segment Reporting, to require a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Public entities with a single reportable segment are required to provide the new disclosures and all the disclosures currently required under ASC 280. The new guidance is effective for public entities in fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently assessing the impact of this amendment on its consolidated financial statements. In December 2023, the FASB amended the guidance in ASU 740, Income Taxes, to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The new guidance is effective for public entities in fiscal years beginning after 15 December 2024. Early adoption is permitted. The Company is currently assessing the impact of this amendment on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Property and Equipment	Property and equipment is stated at historical cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, which are as follows: Asset Category Estimated Useful Lives Computer equipment 3 years Office equipment 5 years Laboratory equipment 5 years Leasehold improvements the shorter of the lease term and the useful life

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values: Description Financial Assets Level 1 Level 2 Level 3 (in thousands) As at December 31, 2023 Assets Cash and cash equivalents Money market funds $ 36,991 $ 36,991 $ — $ — Commercial paper 29,815 — 29,815 — Total cash and cash equivalents 66,806 36,991 29,815 — Marketable securities U.S. Treasury and government-sponsored 22,409 — 22,409 — Commercial paper 89,950 — 89,950 — Total marketable securities 112,359 — 112,359 — Total financial assets $ 179,165 $ 36,991 $ 142,174 $ — As at December 31, 2022 Assets Money market funds included in cash and cash $ 42,995 $ 42,995 $ — $ — Marketable securities U.S. Treasury and government-sponsored 184,420 — 184,420 — Total financial assets $ 227,415 $ 42,995 $ 184,420 $ —

Other Current Receivables (Tabl

Other Current Receivables (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Other Current Receivables	Other current receivables as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 2022 (in thousands) Research and development tax credits receivable $ 1,319 $ 1,280 Collaboration revenue receivable 2,050 1,525 Sales tax and other receivables 1,130 1,518 Total other current receivables $ 4,499 $ 4,323

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Cash and Cash Equivalents and Marketable Securities	As of December 31, 2023 and 2022, cash and cash equivalents and marketable securities were comprised of the following: Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) As at December 31, 2023 Cash and cash equivalents: Cash $ 44,462 $ — $ — $ 44,462 Money market funds 36,991 — — 36,991 Commercial paper 29,811 4 — 29,815 Total cash and cash equivalents $ 111,264 $ 4 $ — $ 111,268 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 22,434 $ — $ ( 25 ) $ 22,409 Commercial paper 89,901 60 ( 11 ) 89,950 Total marketable securities $ 112,335 $ 60 $ ( 36 ) $ 112,359 As at December 31, 2022 Cash and cash equivalents: Cash $ 116,526 $ — $ — $ 116,526 Money market funds 42,995 — — 42,995 Total cash and cash equivalents $ 159,521 $ — $ — $ 159,521 Marketable securities: U.S. Treasury and government-sponsored enterprises $ 184,848 $ 5 $ ( 433 ) $ 184,420 Total marketable securities $ 184,848 $ 5 $ ( 433 ) $ 184,420

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 2022 (in thousands) Computer equipment $ 473 $ 473 Office equipment 514 514 Laboratory equipment 7,985 6,075 Leasehold improvements 2,547 2,519 Total 11,519 9,581 Less: Accumulated depreciation ( 7,304 ) ( 5,353 ) Property and equipment, net $ 4,215 $ 4,228
Schedule of Depreciation Expense Recognized	Depreciation expense recognized was allocated as follows: Year Ended December 31, 2023 2022 (in thousands) Research and development $ 1,835 $ 1,837 General and administration 116 141 Depreciation expense $ 1,951 $ 1,978

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 2022 (in thousands) Accrued compensation and benefits $ 6,981 $ 5,616 Accrued research and development expense 16,251 15,078 Accrued professional services 631 680 Other 194 271 Total accrued expenses and other current liabilities $ 24,057 $ 21,645

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Summary of Lease Costs	The following tables contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the years ended December 31, 2023 and 2022: December 31, 2023 2022 (in thousands) Operating Leases Lease Cost Operating lease cost $ 2,372 $ 2,456 Short-term lease cost 122 33 Variable lease cost 249 278 Total lease cost $ 2,743 $ 2,767
Summary of Other Operating Lease Information	December 31, 2023 2022 (in thousands, except as specified otherwise) Other Operating Lease Information Operating cash flows for operating leases $ 2,405 $ 1,948 Right-of-use assets obtained in exchange for lease obligations $ 149 $ 86 Weighted-average remaining lease term (in years) 1.46 2.43 Weighted-average discount rate 4.2 % 4.0 %
Summary of Future Minimum Lease Payments under Operating Leases	Future minimum lease payments under the Company’s operating leases as of December 31, 2023 were as follows: December 31, (in thousands) Maturity of Lease Liabilities 2024 $ 2,490 2025 1,022 Total lease payments $ 3,512 Less: interest ( 102 ) Total lease liabilities $ 3,410

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Assumptions used to Determine Grant Date Fair Value under ESPP Offering	The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value under the ESPP offering were as follows: Year Ended December 31, 2023 2022 Risk-free interest rate 5.29 % 2.36 % Expected term (in years) 0.50 0.50 Expected volatility 58.38 % 85.37 % Expected dividend yield 0.00 % 0.00 %
Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model	The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted-average basis: Year Ended December 31, 2023 2022 Risk-free interest rate 3.73 % 2.17 % Expected term (in years) 6.01 5.99 Expected volatility 81.50 % 78.95 % Expected dividend yield 0.00 % 0.00 %
Schedule of Share Option Activity	The following table summarizes the Company’s stock options activity: Number of Weighted Weighted Intrinsic value (in thousands) Outstanding, January 1, 2023 8,032,902 $ 14.38 7.90 $ 37,250 Granted 2,371,540 $ 11.55 Exercised ( 64,240 ) $ 2.37 Forfeited ( 242,431 ) $ 15.20 Outstanding, December 31, 2023 10,097,771 $ 13.77 7.41 $ 13,502 Options exercisable, December 31, 2023 5,960,917 $ 13.00 6.62 $ 13,000 Options unvested, December 31, 2023 4,136,854 $ 14.88 8.57 $ 502
Summary of Total Outstanding Restricted Stock Units	Restricted Share Units The following table summarizes the Company’s restricted share unit activity: Number of Weighted Weighted Intrinsic value (in thousands) Outstanding, January 1, 2023 — $ — — $ — Awarded 626,260 $ 12.42 Vested and released — $ — Forfeited ( 22,575 ) $ 12.42 Outstanding, December 31, 2023 603,685 $ 12.42 2.09 $ 4,407 The fair value of each restricted share unit is estimated on the date of grant based on the fair value of our common shares on that same date.
Schedule of Share-based Compensation Expense	Share-based compensation expense for all awards was allocated as follows: Year Ended December 31, 2023 2022 (in thousands) Research and development $ 13,239 $ 10,020 General and administrative 11,824 9,671 Total share-based compensation expense $ 25,063 $ 19,691 Share-based compensation expense by type of award was as follows: Year Ended December 31, 2023 2022 (in thousands) Stock options $ 22,422 $ 19,400 Restricted share units 2,298 — ESPP 343 291 Total share-based compensation expense $ 25,063 $ 19,691

Collaborations (Tables)

Collaborations (Tables)	12 Months Ended
	Dec. 31, 2023
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Schedule of Revenue From Collaboration Agreements	The following table presents revenue from collaboration agreements: December 31, 2023 2022 (in thousands) Roche Collaboration and License Agreement $ 14,545 $ 116,668 Bristol-Myers Squibb Collaboration and License Agreement 26,115 15,162 Ono Collaboration Agreement 10,473 — Total revenue $ 51,133 $ 131,830
Roche
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Schedule of Transaction Price Performance Obligations	Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations is as follows: Performance obligation Transaction price (in thousands) Combined licenses $ 105,327 Completion of Continuing Trials 32,635 Transfer of clinical trial materials 2,714 Total transaction price $ 140,676
Schedule of Deferred Revenue	Deferred revenue pertaining to the Roche Agreement Completion of Continuing Trials (in thousands) Balance as of December 31, 2022 $ 17,958 Increase in collaboration revenue receivable 6,050 Recognition as revenue, as the result of performance obligations satisfied ( 14,545 ) Balance as of December 31, 2023 $ 9,463 Classified as short-term $ 7,733 Classified as long-term 1,730
Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Schedule of Transaction Price Performance Obligations	Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations was as follows: Performance obligation Transaction price (in thousands) Research activities $ 6,405 Options to license druggable targets 31,148 Options to license undruggable targets 12,447 Total transaction price $ 50,000
Schedule of Deferred Revenue	Deferred revenue pertaining to the BMS Agreement Research activities Options to license druggable targets Options to license undruggable targets Total (in thousands) Balance as of December 31, 2022 $ 2,448 $ 12,459 $ 12,447 $ 27,354 Increase in collaboration revenue receivable — 1,250 — 1,250 Recognition as revenue, as the result of performance ( 2,448 ) ( 13,709 ) ( 9,958 ) ( 26,115 ) Balance as of December 31, 2023 $ — $ — $ 2,489 $ 2,489 Classified as short-term $ — $ — $ 2,489 $ 2,489
Ono Pharmaceutical Company Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Schedule of Deferred Revenue	Deferred revenue pertaining to the Ono Agreement Research activities (in thousands) Balance as of December 31, 2022 $ 10,473 Recognition as revenue, as the result of performance obligations satisfied ( 10,473 ) Balance as of December 31, 2023 $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Summary of Loss Before Provision for Income Taxes	Loss before the provision for income taxes consisted of the following: Year Ended December 31, 2023 2022 (in thousands) Canada $ ( 108,362 ) $ ( 17,550 ) Foreign 5,183 3,650 Loss before provision for income taxes $ ( 103,179 ) $ ( 13,900 )
Summary of provision for income taxes	The components of the provision for income taxes are as follows: Year Ended December 31, 2023 2022 (in thousands) Current income tax provision - foreign $ ( 9,383 ) $ 11,527 Deferred income tax benefit - foreign — 3,620 Total provision for income taxes $ ( 9,383 ) $ 15,147
Summary of Reconciliation of Provision for Income Taxes	A reconciliation between tax expense and the product of accounting income multiplied by the statutory income tax rate is as follows: Year Ended December 31, 2023 2022 (in thousands) Loss before income taxes $ ( 103,179 ) $ ( 13,900 ) Income tax at statutory rate 26.5 % 26.5 % Computed income tax recovery ( 27,342 ) ( 3,684 ) Effect on income tax resulting from: Federal investment tax credit ( 6,648 ) ( 4,899 ) Accounting charges not deductible for tax purposes 5,132 679 Capital gain income — ( 13,956 ) Equity compensation 4,292 3,492 State taxes 643 ( 777 ) Other 26 ( 142 ) Change in valuation allowance 14,514 34,434 Tax (benefit) expense $ ( 9,383 ) $ 15,147
Summary of Losses Expire	The Company has not recognized the tax benefit of these losses. These losses expire as follows: (in thousands) 2043 $ 115,959 2042 34,571 2041 93,833 2040 — 2039 11,394 2038 7,111 2037 883 Total $ 263,751
Summary of Investment Tax Credits Expire	The Company has not recognized the tax benefits related to the non-refundable investment tax credits. The investment tax credits (in thousands) 2043 $ 2,649 2042 2,433 2041 2,253 2040 1,702 2039 1,362 2038 776 2037 455 2036 24 Total $ 11,654
Summary of Deferred Tax Assets	The Company’s deferred tax assets as of December 31, 2023 and 2022 consisted of the following: 2023 2022 (in thousands) Net operating loss carryforwards $ 69,894 $ 42,003 Net research and development expenditures 18,724 14,468 Share issuance costs 1,200 2,369 Net federal investment tax credits 8,567 6,589 U.S. research and development tax credits 4,565 — Tax basis of property and equipment in excess of carrying values 39 ( 376 ) Operating lease right-of-use assets ( 883 ) ( 1,429 ) Operating lease liability 906 1,445 Accrued expense and other liabilities 1,134 785 Deferred revenue 3,167 14,783 Share-based compensation 4,240 2,492 R&D costs capitalized — 13,911 Total deferred tax assets 111,553 97,040 Valuation allowance ( 111,553 ) ( 97,040 ) Net deferred tax assets $ — $ —

Net Loss per Share (Tables)

Net Loss per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Common Shareholders	The following table summarizes the computation of basic and diluted net loss per share attributable to common shareholders of the Company: Year Ended December 31, 2023 2022 (in thousands, except share and per share data) Numerator: Net loss $ ( 93,796 ) $ ( 29,047 ) Denominator: Weighted-average number of common shares outstanding—basic and 42,093,293 41,922,042 Net loss per share—basic and diluted $ ( 2.23 ) $ ( 0.69 )
Computation of Diluted Net Loss Per Share in Attributable to Common Shareholders Indicate to Anti Diluted Effect	The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect: Year Ended December 31, 2023 2022 Options to purchase common shares 10,097,771 8,032,902 Restricted share units 603,685 — Estimated shares issuable under the ESPP 55,327 47,216

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Commitments to Settle Contractual Obligations	The following table summarizes the Company’s commitments to settle contractual obligations at December 31, 2023, other than leases which are recognized as operating lease liabilities in the consolidated balance sheet. Year Ending December 31, (in thousands) 2024 $ 3,107 2025 33 2026 57 2027 33 2028 41 Following years 173 Total $ 3,444

Currency Risk (Tables)

Currency Risk (Tables)	12 Months Ended
	Dec. 31, 2023
Foreign Currency Risk [Abstract]
Schedule of Financial Position Exposure	The Company is exposed to currency risk through its cash, other current receivables, accounts payable, accrued expenses and other current liabilities, as well as right-of-use lease liabilities denominated in Canadian dollars as follows: December 31, 2023 2022 (in thousands) Cash $ 3,120 $ 1,904 Other current receivables 743 851 Accounts payable ( 290 ) ( 324 ) Accrued expenses and other current liabilities ( 4,310 ) ( 4,095 ) Lease liabilities ( 2,971 ) ( 4,392 ) Net financial position exposure $ ( 3,708 ) $ ( 6,056 )

Geographic Information (Tables)

Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Property and Equipment, Net and Right-of-Use Assets by Location	The Company’s property and equipment, net by location was as follows: December 31, 2023 2022 (in thousands) Canada $ 3,469 $ 2,888 United States 746 1,340 Total property and equipment, net $ 4,215 $ 4,228 The Company’s right-of-use assets by location were as follows: December 31, 2023 2022 (in thousands) Canada $ 2,376 $ 3,578 United States 950 1,793 Total right-of-use assets, net $ 3,326 $ 5,371

Organization and Nature of Bu_2

Organization and Nature of Business - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Organization and Nature of Business [Line Items]
Entity incorporation, date of incorporation	Sep. 06, 2016
Accumulated deficit	$ (333,109)	$ (239,313)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Significant off-balance sheet risk, description	As of December 31, 2023 and 2022, the Company had no significant off-balance sheet risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements.	As of December 31, 2023 and 2022, the Company had no significant off-balance sheet risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements.
Impairment of long-lived assets	$ 0
Share based compensation, expected dividend yield assumed	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
Computer Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	3 years
Office Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	5 years
Laboratory Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	5 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Leasehold improvements	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember

Cash and Cash Equivalents and_3

Cash and Cash Equivalents and Marketable Securities - Summary of Cash and Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 111,264	$ 159,521
Unrealized Gains	4	0
Unrealized Losses	0	0
Fair Value	111,268	159,521
Commercial paper | Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	29,811
Unrealized Gains	4
Unrealized Losses	0
Fair Value	29,815
Money market funds | Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	36,991	42,995
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	36,991	42,995
Marketable securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	112,335	184,848
Unrealized Gains	60	5
Unrealized Losses	(36)	(433)
Fair Value	112,359	184,420
Marketable securities | U.S. Treasury and government-sponsored enterprises
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	22,434	184,848
Unrealized Gains	0	5
Unrealized Losses	(25)	(433)
Fair Value	22,409	184,420
Marketable securities | Commercial paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	89,901
Unrealized Gains	60
Unrealized Losses	(11)
Fair Value	89,950
Cash | Cash and cash equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	44,462	116,526
Fair Value	$ 44,462	$ 116,526

Cash and Cash Equivalents and_4

Cash and Cash Equivalents and Marketable Securities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 400,000	$ 400,000
Debt securities unrealized loss position	58,600,000	157,900,000
Unrealized gain (loss) on available-for-sale marketable securities	456,000	$ (428,000)
Allowance for credit losses or other impairment charges	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Marketable securities
Assets
Marketable securities	$ 112,359	$ 184,420
Marketable securities | U.S. Treasury and government-sponsored enterprises
Assets
Marketable securities	22,409	184,420
Marketable securities | Commercial paper
Assets
Marketable securities	89,950
Fair Value Measurements, Recurring
Assets
Cash and cash equivalents	66,806
Marketable securities	112,359
Assets, Fair Value Disclosure, Total	179,165	227,415
Fair Value Measurements, Recurring | U.S. Treasury and government-sponsored enterprises
Assets
Marketable securities	22,409	184,420
Fair Value Measurements, Recurring | Level 1
Assets
Cash and cash equivalents	36,991
Marketable securities	0
Assets, Fair Value Disclosure, Total	36,991	42,995
Fair Value Measurements, Recurring | Level 1 | U.S. Treasury and government-sponsored enterprises
Assets
Marketable securities	0	0
Fair Value Measurements, Recurring | Level 2
Assets
Cash and cash equivalents	29,815
Marketable securities	112,359
Assets, Fair Value Disclosure, Total	142,174	184,420
Fair Value Measurements, Recurring | Level 2 | U.S. Treasury and government-sponsored enterprises
Assets
Marketable securities	22,409	184,420
Fair Value Measurements, Recurring | Commercial paper
Assets
Cash and cash equivalents	29,815
Marketable securities	89,950
Fair Value Measurements, Recurring | Commercial paper | Level 1
Assets
Cash and cash equivalents	0
Marketable securities	0
Fair Value Measurements, Recurring | Commercial paper | Level 2
Assets
Cash and cash equivalents	29,815
Marketable securities	89,950
Fair Value Measurements, Recurring | Money market funds included in cash and cash equivalents
Assets
Cash and cash equivalents	36,991	42,995
Fair Value Measurements, Recurring | Money market funds included in cash and cash equivalents | Level 1
Assets
Cash and cash equivalents	$ 36,991	$ 42,995

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value, assets, transfers between levels	$ 0	$ 0

Other Current Receivables - Sch

Other Current Receivables - Schedule of Other Current Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Research and development tax credits receivable	$ 1,319	$ 1,280
Collaboration revenue receivable	2,050	1,525
Sales tax and other receivables	1,130	1,518
Total other current receivables	$ 4,499	$ 4,323

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 11,519	$ 9,581
Less: Accumulated depreciation	(7,304)	(5,353)
Property and equipment, net	4,215	4,228
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	473	473
Office Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	514	514
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	7,985	6,075
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 2,547	$ 2,519

Property and Equipment, Net -_2

Property and Equipment, Net - Schedule of Depreciation Expense Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Depreciation expense	$ 1,951	$ 1,978
Research and Development Expense
Property Plant And Equipment [Line Items]
Depreciation expense	1,835	1,837
General and Administrative Expense
Property Plant And Equipment [Line Items]
Depreciation expense	$ 116	$ 141

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 6,981	$ 5,616
Accrued research and development expense	16,251	15,078
Accrued professional services	631	680
Other	194	271
Total accrued expenses and other current liabilities	$ 24,057	$ 21,645

License Agreements - Additional

License Agreements - Additional Information (Detail) - NYU Agreement - USD ($)	1 Months Ended	12 Months Ended
	Jul. 31, 2018	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement milestone and royalty payments upon achievement of certain clinical and commercial milestones	$ 6,700,000	$ 6,700,000
Accrual of potential future milestone or royalty payment		$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Details) - Lease	1 Months Ended					12 Months Ended
	Jan. 31, 2023	Aug. 31, 2021	Jul. 31, 2021	Nov. 30, 2017	Jun. 30, 2017	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2023	Nov. 30, 2019
Lessee Lease Description [Line Items]
Number of operating leases						4
Lessee, operating lease, existence of option to terminate						false
Implicit interest rate						0%	0%
Office and Laboratory Space | Montreal, Quebec
Lessee Lease Description [Line Items]
Minimum lease term				3 years	4 years			32 months	5 years
Operating lease, expiration month and year	2025-08			2020-10	2021-07
Operating lease, existence of option to extend		true		true
Operating lease, option to extend, description		extended through July 2025		extended through December 2022
Operating Lease, renewal term									5 years
Office Space | Cambridge, Massachusetts
Lessee Lease Description [Line Items]
Minimum lease term			3 years
Operating lease, expiration month and year			2024-12
Operating Lease, renewal term			3 years

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease Cost
Operating lease cost	$ 2,372	$ 2,456
Short-term lease cost	122	33
Variable lease cost	249	278
Total lease cost	$ 2,743	$ 2,767

Leases - Summary of Other Opera

Leases - Summary of Other Operating Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows for operating leases	$ 2,405	$ 1,948
Right-of-use assets obtained in exchange for lease obligations	$ 149	$ 86
Weighted-average remaining lease term (in years)	1 year 5 months 15 days	2 years 5 months 4 days
Weighted-average discount rate	4.20%	4%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments under Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 2,490
2025	1,022
Total lease payments	3,512
Less: interest	(102)
Total lease liabilities	$ 3,410

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Preferred stock shares issued		0	0
Preferred stock shares outstanding		0	0
Common stock voting rights		Each common share entitles the holder to one vote on all matters submitted to the shareholders for a vote.
Cash dividends declared or paid		$ 0
Common Shares | Sales Agreement
Class Of Stock [Line Items]
Shares issued		0	0
Common Shares | Sales Agreement | Maximum
Class Of Stock [Line Items]
Maximum aggregate amount	$ 125,000,000

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2023	Jun. 30, 2020	Dec. 31, 2023	Dec. 31, 2022	Feb. 29, 2024	Jan. 01, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares issued			42,176,041	42,036,193
Intrinsic value of options exercised			$ 500	$ 1,700
Fair value of options vested			$ 24,400	20,100
Number of options exercised			64,240
Exercised options, weighted-average exercise price			$ 2.37
Aggregate proceeds from exercise of options			$ 153	$ 447
Decrease in additional paid-in capital as exercised options credited to common shares			$ 100
Stock options granted to employees			2,371,540
Weighted average exercise price of stock options granted			$ 11.55
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested stock options			$ 37,500
Unrecognized share-based compensation expense related to unvested stock options, weighted-average remaining vesting period			1 year 4 months 24 days
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested restricted share units			$ 5,200
Unrecognized share-based compensation expense related to unvested stock options, weighted-average remaining vesting period			2 years 1 month 6 days
Restricted stock units, Awarded			626,260
Inducement Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting term	10 years
Stock options granted to employees	240,000
Weighted average exercise price of stock options granted	$ 9.83
Common Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options exercised			64,240	148,116
2020 Employee Share Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance						1,833,186
Annual increase in number of shares available for issuance as percentage of outstanding shares common stock on final day of preceding calendar year		1%
Annual increase in number of shares available for issuance maximum number of common stock issued		3,300,000
Purchase price of shares as percentage of fair market value of common stock on date of purchase		85%
Common stock shares issued		0	75,608	37,915
Shares issued, price per share			$ 9.11	$ 11.43
Weighted average grant date fair value			$ 3.27	$ 4.91
Cash received from purchases under ESPP			$ 700	$ 400
2020 Employee Share Purchase Plan | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares issued					60,618
Shares issued, price per share					$ 5.91
Option Plan | Common Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares ceased granting		4,074,135
2020 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserved for future issuance						12,132,580
Annual increase in number of shares available for issuance as percentage of outstanding shares common stock on final day of preceding calendar year			5%
Expiration period			10 years
Weighted average grant date fair value			$ 8.18	$ 9.54
2020 Equity Incentive Plan | Vesting on First Anniversary Date of Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage			25%
2020 Equity Incentive Plan | Vesting on Monthly Basis at Rate of 1/48th
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Monthly vesting rate			1/48

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Assumptions used to Determine Grant Date Fair Value under ESPP Offering (Details) - 2020 Employee Share Purchase Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	5.29%	2.36%
Expected term (in years)	6 months	6 months
Expected volatility	58.38%	85.37%
Expected dividend yield	0%	0%

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model (Details) - 2020 Equity Incentive Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	3.73%	2.17%
Expected term (in years)	6 years 3 days	5 years 11 months 26 days
Expected volatility	81.50%	78.95%
Expected dividend yield	0%	0%

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Share Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of shares, Outstanding at beginning of period	8,032,902
Number of shares, Granted	2,371,540
Number of shares, Exercised	(64,240)
Number of shares, Forfeited	(242,431)
Number of shares, Outstanding at end of period	10,097,771	8,032,902
Number of shares, Options Exercisable	5,960,917
Number of shares, Options Unvested	4,136,854
Weighted average exercise price, Outstanding at beginning of period	$ 14.38
Weighted average exercise price, Granted	11.55
Weighted average exercise price, Exercised	2.37
Weighted average exercise price, Forfeited	15.2
Weighted average exercise price, Outstanding at end of period	13.77	$ 14.38
Weighted average exercise price, Options exercisable	13
Weighted average exercise price, Options Unvested	$ 14.88
Weighted average remaining contractual term (in years) , Outstanding	7 years 4 months 28 days	7 years 10 months 24 days
Weighted average remaining contractual term (in years), Options Exercisable	6 years 7 months 13 days
Weighted average remaining contractual term (in years), Options Unvested	8 years 6 months 25 days
Intrinsic value, Outstanding at beginning of period	$ 37,250
Intrinsic value, Outstanding at end of period	13,502	$ 37,250
Intrinsic value, Options exercisable	13,000
Intrinsic value, Options unvested	$ 502

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Total Outstanding Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units, Beginning Balance	0
Restricted stock units, Awarded	626,260
Restricted stock units, Vested and released	0
Restricted stock units, Forfeited	(22,575)
Restricted stock units, Ending balance	603,685	0
Weighted average grant date fair value, Beginning balance	$ 0
Weighted average grant date fair value, Awarded	12.42
Weighted average grant date fair value, Vested and released	0
Weighted average grant date fair value, Forfeited	$ 12.42
Weighted average remaining contractual term (in years)	2 years 1 month 2 days	0 years
Weighted average grant date fair value, Ending balance	$ 12.42	$ 0
Intrinsic Value, Outstanding at the beginning of period	$ 0
Intrinsic Value, Outstanding at the Ending period	$ 4,407	$ 0

Share-Based Compensation - Sc_4

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 25,063	$ 19,691
Research and Development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	13,239	10,020
General and Administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	11,824	9,671
Employee Stock Option
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	22,422	19,400
Restricted Share Units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	2,298	0
ESPP
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 343	$ 291

Employee Savings Plan - Additio

Employee Savings Plan - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Percentage of non-matching employer contributions	3%
Matching contribution expense	$ 0.9	$ 0.8

Collaborations - Schedule of Re

Collaborations - Schedule of Revenue from Collaboration Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	$ 51,133	$ 131,830
Roche
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	14,545	116,668
Bristol-Myers Squibb Company
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	26,115	15,162
Ono Pharmaceutical Company Ltd
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	$ 10,473	$ 0

Collaborations - Additional Inf

Collaborations - Additional Information (Details) $ in Thousands, ¥ in Millions

1 Months Ended

10 Months Ended

12 Months Ended

Jul. 01, 2023

Oct. 31, 2021 USD ($)

Oct. 31, 2021 JPY (¥)

Jan. 01, 2019 USD ($)

Jan. 01, 2019 JPY (¥)

Jan. 31, 2023

Jun. 30, 2020 USD ($)

May 31, 2020 USD ($)

Oct. 31, 2021

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2022 JPY (¥)

Jan. 31, 2024 USD ($)

Feb. 28, 2023 USD ($)

Dec. 31, 2022 JPY (¥)

Ono Pharmaceutical Company Limited [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Termination agreement description

In July 2023, Ono provided the Company with a formal notice to terminate the Ono Agreement without cause as defined in the Ono Agreement. As a result of this termination, all rights to the Polθ program have reverted to the Company.

Ono Pharmaceutical Company Limited [Member] | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non refundable amounts earned during the current year

$ 8,100

¥ 900

Deferred revenue recognized

$ 10,500

$ 0

Deferred revenue

8,100

Collaboration term extended period

1 year

Second amendment agreement

In January 2023, the Company and Ono entered into a second amendment to the Ono Agreement whereby the Research Term, as defined in the Ono Agreement, was extended until July 31, 2023.

Initial upfront fee payment

1,000

110

Deferred revenue, additions

$ 900

¥ 100

1,500

¥ 200

Collaboration receivable

1,500

¥ 200

Ono Pharmaceutical Company Limited [Member] | Research, Development and Regulatory Milestones | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non refundable amounts earned during the current year

$ 7,100

¥ 790

Ono Pharmaceutical Company Limited [Member] | Research Activities

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue

0

10,473

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

140,676

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non refundable amounts earned during the current year

6,100

Non-refundable upfront payment received

134,600

Deferred revenue recognized

14,500

116,700

Milestone payment earned receivable

$ 40,000

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Additional Clinical Development Plan [Member] | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

4,000

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | 2nd Additional Clinical Development Plan Member | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

4,000

Collaboration revenue receivable

$ 4,000

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | 3rd additional clinical development plan | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue receivable

4,000

Collaboration revenue receivable earned

2,100

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Clinical, Regulatory, Commercial And Sales Milestone | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Milestones Payments

1,172,000

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Upfront Non Refundable First Payment Received | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

125,000

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Transfer of Clinical Trial Materials

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

2,714

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Transfer of Clinical Trial Materials | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

5,600

Deferred revenue recognized

2,700

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Combined Licenses

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

105,327

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Combined Licenses | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue recognized

105,300

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Research and Development Services | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue recognized

8,600

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Completion of Continuing Trials

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

32,635

Deferred revenue

9,463

17,958

Deferred revenue, current

7,733

Deferred revenue, noncurrent

1,730

Hoffmann La Roche Inc And F Hoffmann La Roche Ltd | Completion of Continuing Trials | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue

9,400

18,000

Deferred revenue, current

7,700

15,300

Deferred revenue, noncurrent

1,700

2,700

Bristol-Myers Squibb Company

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

50,000

Deferred revenue

2,489

27,354

Deferred revenue, current

2,489

Bristol-Myers Squibb Company | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non refundable amounts earned during the current year

$ 50,000

Non-refundable upfront payment received

$ 50,000

Deferred revenue

2,500

27,400

Deferred revenue, current

2,500

27,400

Collaboration term expiration period

42 months

Bristol-Myers Squibb Company | Research Activities

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Non-refundable upfront payment received

6,405

Deferred revenue

0

2,448

Deferred revenue, current

0

Bristol-Myers Squibb Company | Research Activities | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue recognized

2,400

2,700

Bristol-Myers Squibb Company | Druggable Target | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue recognized

12,700

12,500

Deferred revenue, triggered further development

1,000

Deferred Revenue Triggered Additional Development Recognized

1,000

0

Option fee Received

250

Bristol-Myers Squibb Company | Undruggable Target | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Deferred revenue recognized

$ 10,000

$ 0

Bristol-Myers Squibb Company | Maximum | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Milestone payments entitled to be received

$ 301,000

Bristol-Myers Squibb Company | Maximum | Commercial Milestones | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Milestone payments entitled to be received

125,000

Bristol-Myers Squibb Company | Maximum | Research, Development and Regulatory Milestones | Collaboration and License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Milestone payments entitled to be received

$ 176,000

Collaborations - Schedule of Tr

Collaborations - Schedule of Transaction Price Performance Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	$ 50,000
Hoffmann La Roche Inc And F Hoffmann La Roche Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	140,676
Research Activities | Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	6,405
Options to License Druggable Targets | Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	31,148
Options to License Undruggable Targets | Bristol-Myers Squibb Company
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	12,447
Combined Licenses | Hoffmann La Roche Inc And F Hoffmann La Roche Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	105,327
Completion of Continuing Trials | Hoffmann La Roche Inc And F Hoffmann La Roche Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	32,635
Transfer of Clinical Trial Materials | Hoffmann La Roche Inc And F Hoffmann La Roche Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Transaction price	$ 2,714

Collaborations - Schedule of De

Collaborations - Schedule of Deferred Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Roche | Completion of Continuing Trials
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	$ 17,958
Increase in collaboration revenue receivable	6,050
Recognition as revenue, as the result of performance obligations satisfied	(14,545)
Balance, Ending	9,463
Classified as short-term	7,733
Classified as long-term	1,730
Bristol-Myers Squibb Company
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	27,354
Increase in collaboration revenue receivable	1,250
Recognition as revenue, as the result of performance obligations satisfied	(26,115)
Balance, Ending	2,489
Classified as short-term	2,489
Bristol-Myers Squibb Company | Research Activities
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	2,448
Increase in collaboration revenue receivable	0
Recognition as revenue, as the result of performance obligations satisfied	(2,448)
Balance, Ending	0
Classified as short-term	0
Bristol-Myers Squibb Company | Options to License Druggable Target Lesions
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	12,459
Increase in collaboration revenue receivable	1,250
Recognition as revenue, as the result of performance obligations satisfied	(13,709)
Balance, Ending	0
Classified as short-term	0
Bristol-Myers Squibb Company | Options to License Undruggable Targets
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	12,447
Increase in collaboration revenue receivable	0
Recognition as revenue, as the result of performance obligations satisfied	(9,958)
Balance, Ending	2,489
Classified as short-term	2,489
Ono Pharmaceutical Company Ltd | Research Activities
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Balance, Beginning	10,473
Recognition as revenue, as the result of performance obligations satisfied	(10,473)
Balance, Ending	$ 0

Income Taxes - Summary of Loss

Income Taxes - Summary of Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Canada	$ (108,362)	$ (17,550)
Foreign	5,183	3,650
Loss before income taxes	$ (103,179)	$ (13,900)

Income Taxes - Summary of provi

Income Taxes - Summary of provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Current income tax provision - foreign	$ (9,383)	$ 11,527
Deferred income tax benefit - foreign	0	3,620
Tax (benefit) expense	$ (9,383)	$ 15,147

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (103,179)	$ (13,900)
Income tax at statutory rate	26.50%	26.50%
Computed income tax recovery	$ (27,342)	$ (3,684)
Federal investment tax credit	(6,648)	(4,899)
Accounting charges not deductible for tax purposes	5,132	679
Capital gain income	0	(13,956)
Equity compensation	4,292	3,492
State Taxes	643	(777)
Other	26	(142)
Change in valuation allowance	14,514	34,434
Tax (benefit) expense	$ (9,383)	$ 15,147

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Income tax receivable	$ 13,100,000
Income taxes receivable, Current	10,813,000	$ 0
Income taxes receivable, noncurrent	2,276,000	0
Income tax losses	263,751,000
Scientific research and experimental development expenditures	70,700,000
Investment tax credits	11,654,000
Deferred Tax Assets, Valuation Allowance	111,553,000	97,040,000
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 4,565,000	0
Tax examination	2017 2018 2019 2020 2021 2022 2023
Unrecognized tax positions	$ 0	0
Accrued interest or penalties	0	$ 0
U.S. federal and state research and development
Income Taxes [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 4,600,000

Income Taxes - Summary of Losse

Income Taxes - Summary of Losses Expire (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
2043	$ 115,959
2042	34,571
2041	93,833
2040	0
2039	11,394
2038	7,111
2037	883
Total	$ 263,751

Income Taxes - Summary of Inves

Income Taxes - Summary of Investment Tax Credits Expire (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
2043	$ 2,649
2042	2,433
2041	2,253
2040	1,702
2039	1,362
2038	776
2037	455
2036	24
Total	$ 11,654

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 69,894	$ 42,003
Net research and development expenditures	18,724	14,468
Share issuance costs	1,200	2,369
Net federal investment tax credits	8,567	6,589
U.S. research and development tax credits	4,565	0
Tax basis of property and equipment in excess of carrying values	39
Tax basis of property and equipment in excess of carrying values		(376)
Operating lease right-of-use assets	(883)	(1,429)
Operating lease liability	906	1,445
Accrued expense and other liabilities	1,134	785
Deferred revenue	3,167	14,783
Share-based compensation	4,240	2,492
R&D costs capitalized	0	13,911
Total deferred tax assets	111,553	97,040
Valuation allowance	(111,553)	(97,040)
Net deferred tax assets	$ 0	$ 0

Net Loss per Share - Summary of

Net Loss per Share - Summary of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net Income (Loss)	$ (93,796)	$ (29,047)
Denominator:
Weighted-average number of common shares outstanding-basic	42,093,293	41,922,042
Weighted-average number of common shares outstanding-diluted	42,093,293	41,922,042
Net loss per share basic	$ (2.23)	$ (0.69)
Net loss per share diluted	$ (2.23)	$ (0.69)

Net Loss per Share - Computatio

Net Loss per Share - Computation of Diluted Net Loss Per Share in Attributable to Common Shareholders Indicate to Anti Diluted Effect (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Options to Purchase Common Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	10,097,771	8,032,902
Restricted Share Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	603,685	0
Estimated Shares Issuable Under the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	55,327	47,216

Government Assistance - Additio

Government Assistance - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Research and Development [Abstract]
Reduction of research and development expenditures	$ 1.5	$ 1.4

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Commitments to Settle Contractual Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 3,107
2025	33
2026	57
2027	33
2028	41
Following years	173
Total	$ 3,444

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($)		1 Months Ended
	Jul. 31, 2022	Mar. 31, 2020	Dec. 31, 2023
Preclinical Studies and Clinical Trials | MDACC
Commitments And Contingencies Disclosure [Line Items]
Contractual obligation		$ 10,000,000
Contractual obligation period		5 years
Contractual Obligations Paid			$ 7,700,000
Specialty Screening Services | Broad Institute, Inc.
Commitments And Contingencies Disclosure [Line Items]
Contractual obligation	$ 2,300,000
Contractual obligation period	3 years
Contractual Obligations Paid			$ 1,500,000
Contractual obligation per year	$ 800,000

Currency Risk - Schedule of Fin

Currency Risk - Schedule of Financial Position Exposure (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Foreign Currency Risk [Line Items]
Net financial position exposure	$ (3,708)	$ (6,056)
Cash
Foreign Currency Risk [Line Items]
Assets exposure	3,120	1,904
Other Current Receivables
Foreign Currency Risk [Line Items]
Assets exposure	743	851
Accounts Payable
Foreign Currency Risk [Line Items]
Liability exposure	(290)	(324)
Accrued Expenses and Other Current Liabilities
Foreign Currency Risk [Line Items]
Liability exposure	(4,310)	(4,095)
Lease Liabilities
Foreign Currency Risk [Line Items]
Liability exposure	$ (2,971)	$ (4,392)

Currency Risk - Additional Info

Currency Risk - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Foreign Currency Risk [Abstract]
Percentage of depreciation USD against Canadian dollar	10%
Increase in net loss currency risk	$ 0.3

Geographic Information - Schedu

Geographic Information - Schedule of Property and Equipment, Net by Location (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Property and equipment, net	$ 4,215	$ 4,228
Canada
Segment Reporting Information [Line Items]
Property and equipment, net	3,469	2,888
United States
Segment Reporting Information [Line Items]
Property and equipment, net	$ 746	$ 1,340

Geographic Information - Sche_2

Geographic Information - Schedule of Right-of-Use Assets by Location (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Operating lease right-of-use assets	$ 3,326	$ 5,371
Canada
Segment Reporting Information [Line Items]
Operating lease right-of-use assets	2,376	3,578
United States
Segment Reporting Information [Line Items]
Operating lease right-of-use assets	$ 950	$ 1,793

Geographic Information - Additi

Geographic Information - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Bristol-Myers Squibb Company
Segment Reporting Information [Line Items]
Revenue	$ (26,115)
Bristol-Myers Squibb Company | United States
Segment Reporting Information [Line Items]
Revenue	26,100	$ 15,200
Roche | Switzerland
Segment Reporting Information [Line Items]
Revenue	14,500	116,700
Ono Pharmaceutical Co., Ltd. | Japan
Segment Reporting Information [Line Items]
Revenue	$ 10,500	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Millions	Feb. 29, 2024 USD ($)
Roche | Subsequent Event
Subsequent Event [Line Items]
Milestones payments received	$ 40