ALX Oncology (ALXO) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 06, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Registrant Name	ALX ONCOLOGY HOLDINGS INC
Entity Central Index Key	0001810182
Entity File Number	001-39386
Entity Tax Identification Number	85-0642577
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	866 Malcolm Road
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Burlingame
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94010
City Area Code	650
Local Phone Number	466-7125
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		40,342,798
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	ALXO
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 409,964	$ 434,219
Prepaid expenses and other current assets	2,313	1,773
Total current assets	412,277	435,992
Property and equipment, net	167	52
Other assets	8,845	10
Total assets	421,289	436,054
Current liabilities:
Accounts payable	5,806	4
Payable and accrued liabilities due to related party	788	72
Accrued expenses and other current liabilities	7,385	6,128
Total current liabilities	13,979	6,204
Other non-current liabilities	2,296	5
Total liabilities	16,275	6,209
Commitments and contingencies (Note 11)
Stockholders’ equity
Common stock, $0.001 par value; 1,000,000,000 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 40,325,270 and 39,844,522 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	40	40
Additional paid-in capital	553,955	548,327
Accumulated deficit	(148,981)	(118,522)
Total stockholders’ equity	405,014	429,845
Total liabilities and stockholders’ equity	$ 421,289	$ 436,054

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	40,325,270	39,844,522
Common stock, shares outstanding	40,325,270	39,844,522

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Related-party revenue		$ 527		$ 1,182
Type of Revenue [Extensible List]	alxo:RelatedPartyMember	alxo:RelatedPartyMember	alxo:RelatedPartyMember	alxo:RelatedPartyMember
Operating expenses:
Research and development	$ 11,213	$ 7,663	$ 21,062	$ 11,491
General and administrative	5,086	3,172	9,445	4,645
Cost of services for related-party revenue		479		1,075
Total operating expenses	16,299	11,314	30,507	17,211
Loss from operations	(16,299)	(10,787)	(30,507)	(16,029)
Interest expense	(3)	(219)	(6)	(434)
Other income (expense), net	28	(305)	54	(298)
Loss before income taxes	(16,274)	(11,311)	(30,459)	(16,761)
Income tax provision		(20)		(24)
Net loss and comprehensive loss	(16,274)	(11,331)	(30,459)	(16,785)
Cumulative dividends allocated to preferred stockholders		(2,641)		(4,624)
Net loss attributable to common stockholders	$ (16,274)	$ (13,972)	$ (30,459)	$ (21,409)
Net loss per share attributable to common stockholders, basic and diluted	$ (0.40)	$ (4.41)	$ (0.76)	$ (6.78)
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic and diluted	40,247,110	3,164,707	40,151,802	3,157,387

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance at Dec. 31, 2019	$ (70,639)		$ 3	$ 2,140	$ (72,782)
Temporary equity, shares at Dec. 31, 2019		10,313,808
Temporary equity, balance at Dec. 31, 2019		$ 70,363
Balance, shares at Dec. 31, 2019			3,166,946
Vesting of early exercised stock options	16			16
Stock-based compensation	151			151
Net loss	(5,454)				(5,454)
Issuance of convertible preferred stock, net of issuance costs		$ 104,680
Issuance of convertible preferred stock, net of issuance costs, shares		11,055,966
Balance at Mar. 31, 2020	(75,926)		$ 3	2,307	(78,236)
Temporary equity, shares at Mar. 31, 2020		21,369,774
Temporary equity, balance at Mar. 31, 2020		$ 175,043
Balance, shares at Mar. 31, 2020			3,166,946
Balance at Dec. 31, 2019	(70,639)		$ 3	2,140	(72,782)
Temporary equity, shares at Dec. 31, 2019		10,313,808
Temporary equity, balance at Dec. 31, 2019		$ 70,363
Balance, shares at Dec. 31, 2019			3,166,946
Net loss	(16,785)
Balance at Jun. 30, 2020	(84,398)		$ 3	5,166	(89,567)
Temporary equity, shares at Jun. 30, 2020		21,369,774
Temporary equity, balance at Jun. 30, 2020		$ 175,043
Balance, shares at Jun. 30, 2020			3,166,946
Balance at Mar. 31, 2020	(75,926)		$ 3	2,307	(78,236)
Temporary equity, shares at Mar. 31, 2020		21,369,774
Temporary equity, balance at Mar. 31, 2020		$ 175,043
Balance, shares at Mar. 31, 2020			3,166,946
Vesting of early exercised stock options	6			6
Stock-based compensation	2,853			2,853
Net loss	(11,331)				(11,331)
Balance at Jun. 30, 2020	(84,398)		$ 3	5,166	(89,567)
Temporary equity, shares at Jun. 30, 2020		21,369,774
Temporary equity, balance at Jun. 30, 2020		$ 175,043
Balance, shares at Jun. 30, 2020			3,166,946
Balance at Dec. 31, 2020	429,845		$ 40	548,327	(118,522)
Balance, shares at Dec. 31, 2020			39,844,522
Issuance of common stock under equity incentive plan	1,024			1,024
Issuance of common stock under equity incentive plans, shares			364,047
Stock-based compensation	1,800			1,800
Net loss	(14,185)				(14,185)
Balance at Mar. 31, 2021	418,484		$ 40	551,151	(132,707)
Balance, shares at Mar. 31, 2021			40,208,569
Balance at Dec. 31, 2020	429,845		$ 40	548,327	(118,522)
Balance, shares at Dec. 31, 2020			39,844,522
Net loss	(30,459)
Balance at Jun. 30, 2021	405,014		$ 40	553,955	(148,981)
Balance, shares at Jun. 30, 2021			40,325,270
Balance at Mar. 31, 2021	418,484		$ 40	551,151	(132,707)
Balance, shares at Mar. 31, 2021			40,208,569
Issuance of common stock under equity incentive plan	464			464
Issuance of common stock under equity incentive plans, shares			114,488
Issuance of common stock under employee stock purchase plan	103			103
Issuance of common stock under employee stock purchase plan, shares			2,213
Stock-based compensation	2,237			2,237
Net loss	(16,274)				(16,274)
Balance at Jun. 30, 2021	$ 405,014		$ 40	$ 553,955	$ (148,981)
Balance, shares at Jun. 30, 2021			40,325,270

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net loss	$ (30,459)	$ (16,785)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	11	192
Non-cash lease costs	204
Stock-based compensation	4,037	3,004
Amortization of term loan discount and issuance costs		221
Changes in fair value of compound derivative liability and warrants		408
Changes in operating assets and liabilities
Receivables due from related-party		9
Prepaid expenses and other current assets	(531)	(1,137)
Other assets	(9,038)
Accounts payable	5,802	(2,003)
Payable and accrued liabilities due to related party	716
Accrued expenses and other current liabilities	1,210	1,100
Other non-current liabilities	2,291	(135)
Net cash used in operating activities	(25,757)	(15,126)
Investing activities
Purchase of property and equipment	(7)	(10)
Net cash used in investing activities	(7)	(10)
Financing activities
Proceeds from exercise of stock options under equity incentive plan	1,479
Proceeds from issuance of common stock pursuant to employee stock purchase plan	103
Proceeds from issuance of convertible preferred stock, net		104,680
Principal payments on finance lease obligations	(73)
Deferred offering costs		(458)
Net cash provided by financing activities	1,509	104,222
Net increase (decrease) in cash and cash equivalents	(24,255)	89,086
Cash and cash equivalents at beginning of period	434,219	9,017
Cash and cash equivalents at end of period	409,964	98,103
Supplemental disclosure
Cash paid for interest	3	188
Cash paid for taxes	274
Supplemental disclosure of non-cash investing and financing activities
Vesting of early exercised stock options		22
Deferred offering costs incurred but not paid		$ 1,953
Right-of-use asset acquired under operating leases	1,812
Right-of-use asset acquired under finance leases	834
Acquisition of property and equipment in accounts payable and other current liabilities	$ 127

Organization

Organization	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
ORGANIZATION	(1) ORGANIZATION Organization ALX Oncology Holdings Inc., or the Company, is a clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. The Company was formed as a Delaware corporation on April 1, 2020, or Inception, for the purpose of completing the Company’s initial public offering of its common stock and related transactions in order to carry on the business of ALX Oncology Limited. After Inception, ALX Oncology Limited became a wholly-owned subsidiary of the Company as a result of the internal reorganization. As part of the internal reorganization, all of the equity, option and warrant holders of ALX Oncology Limited became equity, option and warrant holders of the Company, holding the same number of corresponding shares, options and/or warrants in the Company as they did in ALX Oncology Limited immediately prior to the internal reorganization. The information included herein is presented as that of ALX Oncology Holdings Inc. unless such information refers to a date prior to April 1, 2020, in which case it will reflect that of ALX Oncology Limited, the predecessor company. The Company owns subsidiaries, consisting of ALX Oncology Limited, incorporated in Ireland; ALX Oncology Inc., incorporated in the United States, and Alexo International Holdings Ltd, incorporated in Malta; Alexo Therapeutics International, incorporated in the Cayman Islands, which is a wholly-owned subsidiary of Alexo International Holdings Ltd. and Sirpant Therapeutics, incorporated in the Cayman Islands, which is a wholly-owned subsidiary of Alexo Therapeutics International, or collectively, the Subsidiaries. As of June 30, 2021, the Company has devoted substantially all of its efforts to the product development as well as formation and financing of the Company, and has not realized product revenues from its planned principal operations. The Company has no manufacturing facilities and all manufacturing related activities are contracted out to third-party service providers. Management expects to incur additional losses in the future to conduct product candidate research and development and to conduct pre-commercialization activities and recognizes that the Company will likely raise additional capital to fully implement its business plan. The Company intends to raise such capital through the sale of additional equity, debt financings or strategic alliances with third parties. However, there can be no assurance that the Company will be successful in acquiring additional funding at levels sufficient to fund its operations or on terms acceptable to the Company. If the Company is unsuccessful in its efforts to raise additional financing, the Company could be required to significantly reduce operating expenses and delay, reduce the scope of or eliminate some of its development programs or its future commercialization efforts, out-license intellectual property rights to its product candidates and sell unsecured assets, or a combination of the above, any of which may have a material adverse effect on the Company’s business, results of operations, financial condition and/or its ability to fund its scheduled obligations on a timely basis or at all. The Company believes that the existing capital resources will be sufficient to fund the projected operating requirements for at least the next twelve months.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	(2) SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States, or GAAP and applicable rules and regulations of the Securities and Exchange Commission, or SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year ending December 31, 2021. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain reclassifications have also been made within the condensed consolidated balance sheet as of December 31, 2020 to conform to the current year presentation. The Company reclassified approximately $0.1 million out of accrued expenses and other current liabilities into payable and accrued liabilities due to related-party. Total current liabilities as of December 31, 2020 did not change as a result of these reclassifications. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its estimates, including those related to the estimated useful lives of long-lived assets, clinical trial accruals, fair value of assets and liabilities, income taxes and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could materially differ from those estimates. Significant Accounting Policies With the exception of the change for the accounting of leases as a result of the adoption of Accounting Standards Update (ASU) No. 2016-02, Leases, Topic 842, or Accounting Standards Codification (ASC) 842, there have been no new or material changes to the significant accounting policies discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Leases The Company determines if an arrangement contains a lease at inception. For arrangements where the Company is the lessee, leases are included in operating or finance lease right-of-use, or ROU, assets; current operating or finance lease liabilities; and non-current operating or finance lease liabilities. Lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. ROU assets also include any initial direct costs incurred and any lease payments made on or before the lease commencement date, less lease incentives received. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the lease liabilities as the Company’s leases generally do not provide an implicit rate. The incremental borrowing rate is reevaluated upon a lease modification. The Company considered information available at the adoption date of Topic 842 to determine the incremental borrowing rate for leases in existence as of this date. Lease terms may include options to extend or terminate the lease when the Company is reasonably certain that the option will be exercised. Lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, ROU assets are amortized on a straight-line basis over the shorter of the expected useful life or the lease term, and the carrying amount of the lease liability is adjusted to reflect interest, which is recorded in interest expense. The Company elected to apply each of the practical expedients described in Topic 842 which allow companies (i) not to reassess prior conclusions on whether any expired or existing contracts are or contain a lease, lease classification, and initial direct costs, (ii) combine lease and non-lease components for all underlying assets groups, and (iii) not recognize ROU assets or lease liabilities for short term leases. A short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued ASU No. 2016-02 (Topic 842), Leases (ASU 2016-02). ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both operating and finance leases. ASU No. 2016-02 will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. In June 2020, the FASB issued ASU No. 2020-05, which extended the effective date of ASU No. 2016-02 for non-public business entities, including smaller reporting companies, to fiscal years beginning after December 15, 2021. The Company adopted Topic 842 on January 1, 2021, with early adoption permitted using the alternative modified transition method, which applies the standard as of the effective date and therefore, the Company has not applied the standard to the comparative periods presented on the Company's financial statements. The Company elected the following practical expedients: (i) not to reassess prior conclusions on whether any expired or existing contracts are or contain a lease, lease classification, and initial direct costs; (ii) combine lease and non-lease components (iii) not to recognize ROU assets or lease liabilities for short term leases As a lessee, the primary impact of the adoption of Topic 842 was the recognition of operating and finance lease ROU assets of $0.3 million and $0.2 million, respectively, and operating and finance lease liabilities of $0.3 million and $0.2 million, respectively, as of January 1, 2021. ROU assets are presented within other assets, current lease liabilities are presented within accrued expenses and other current liabilities, and non-current lease liabilities are presented within other non-current liabilities on the condensed consolidated balance sheet. See Note 5 "Leases" for additional details. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021. ASU 2019-12 is effective for the Company beginning January 1, 2022. Early adoption is permitted. The Company adopted this standard as of January 1, 2021 on a prospective basis and there was no material impact on its condensed consolidated financial statements and disclosures as a result of the adoption.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(3) FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of the Company’s financial assets and liabilities are determined in accordance with the fair value hierarchy established in Accounting Standards Codification (ASC) Topic 820, Fair Value Measurements and Disclosures. ASC Topic 820 defines fair value 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. The fair value hierarchy of ASC Topic 820 requires an entity to maximize the use of observable inputs when measuring fair value and classifies those inputs into three levels: Level 1—Observable inputs, such as quoted prices in active markets Level 2—Inputs, other than the quoted prices in active markets, which are observable either directly or indirectly such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the instrument’s anticipated life Level 3—Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions Cash and cash equivalents are reported at their respective fair values on the Company’s condensed consolidated balance sheets. Where quoted prices are available in an active market, securities are classified as Level 1. The Company classifies money market funds as Level 1. If quoted market prices are not available for the specific security, then the Company would estimate fair value by using quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs obtained from various third-party data providers, including but not limited to benchmark yields, reported trades and broker/dealer quotes. Where applicable the market approach utilizes prices and information from market transactions for similar or identical assets. The following table sets forth the Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): As of June 30, 2021 Level 1 Level 2 Level 3 Fair Value Financial assets Cash equivalents Money market funds $ 398,145 $ — $ — $ 398,145 As of December 31, 2020 Level 1 Level 2 Level 3 Fair Value Financial assets Cash equivalents Money market funds $ 424,115 $ — $ — $ 424,115 The Company did not have any outstanding financial liabilities to be re-measured on a recurring basis as of June 30, 2021 and December 31, 2020. There were no The carrying values of the Company’s financial instruments, such as accounts payable and accrued expenses and other current liabilities, approximated fair value due to the short-term nature of these items.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
BALANCE SHEET COMPONENTS	(4) BALANCE SHEET COMPONENTS Property and Equipment, Net The following table presents the components of property and equipment, net as of June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 Computer hardware and software $ 63 $ 63 Furniture and fixtures 6 9 Leasehold improvements 131 5 Property and equipment, gross 200 77 Less: accumulated depreciation and amortization (33 ) (25 ) Total property and equipment, net $ 167 $ 52 Depreciation and amortization expense was nominal during the three and six months ended June 30, 2021. Depreciation and amortization expense was $0.1 million and $0.2 million during the three and six months ended June 30, 2020, respectively. Accrued Expenses and Other Current Liabilities The following table presents the components of accrued expenses and other current liabilities as of June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 Accrued clinical and nonclinical study costs $ 3,325 $ 1,401 Accrued compensation and related expenses 1,769 1,974 Accrued contract manufacturing 1,322 2,123 Finance lease liabilities, current 429 — Accrued professional fees 225 300 Other 205 151 Operating lease liabilities, current 110 — Accrued Federal Income Tax — 179 Total accrued expenses and other current liabilities $ 7,385 $ 6,128

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	(5) LEASES In 2017, the Company entered into a lease agreement for office space for a period of five years and four months, commencing February 1, 2018 and ending May 31, 2023. In July 2020, the Company (i) assigned to Tallac Therapeutics, Inc., or Tallac Therapeutics, a related party, the Company’s lease with respect to the premises located at 866 Malcolm Road, Burlingame, California, and (ii) entered a sub-lease agreement for the same premise from Tallac Therapeutics. The sub-lease is an operating lease. As of June 30, 2021, the Company had approximately $0.3 million right-of-use asset and lease liability related to this lease. The Company evaluated its vendor contracts to identify embedded leases, if any, and noted that a pharmaceutical support services agreement entered into in May 2016, included leases under ASC 842 because the Company has the right to direct the use of certain equipment. The embedded leases commenced in September 2020 and expire in August 2023 with no stated option to extend the term. The Company classified the leases as finance leases. In May 2021, the Company entered into a lease agreement for office space totaling approximately 10,000 square feet at 323 Allerton Avenue, South San Francisco, California. The term of the lease is from July 5, 2021 to August 31, 2026, with early entry date of June 6, 2021. The lease does not provide an option to extend after it expires. The total lease payments for the life of the lease is approximately $2.0 million. The Company obtained the right to direct the usage of the office space on the early entry date, and therefore considered June 6, 2021 as the lease commencement date. The lease was evaluated as an operating lease. As of June 30, 2021, the Company had approximately $1.8 million right-of-use asset and lease liability related to this lease. The ROU assets recorded under the operating lease and finance lease were $2.1 million and $1.0 million, respectively, at June 30, 2021. The amounts were included in the other assets on the condensed consolidated balance sheet. The following table presents the maturities and balance sheet information of the Company's operating and finance lease liabilities as of June 30, 2021 (in thousands, except lease term and discount rate) June 30, 2021 Operating Leases Finance Leases 2021 (remaining six months) $ 78 $ 216 2022 519 432 2023 482 288 2024 433 — 2025 446 — Thereafter 302 — Total lease payments 2,260 936 Less: imputed interest (202 ) (18 ) Total lease liabilities $ 2,058 $ 918 Lease liabilities: current ( i ) $ 251 $ 429 Lease liabilities: non-current (ii) 1,807 489 Total lease liabilities $ 2,058 $ 918 Weighted average remaining lease term (in years) 4.7 2.2 Weighted average discount rate 3.4 % 1.7 % (i) Current lease liabilities were presented within accrued expenses and other current liabilities and payable and accrued liabilities due to related party of $0.1 million and $0.1 million, respectively, on the condensed consolidated balance sheet. (ii) Non-current lease liabilities were presented within other non-current liabilities on the condensed consolidated balance sheet. The following table presents the components of lease costs (in thousands): Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Operating lease cost $ 62 $ 97 Variable lease cost and other, net ( i ) 17 39 Finance lease cost Amortization of right-of-use assets 90 145 Interest 3 6 Total lease cost $ 172 $ 287 (i) The Variable lease cost and other, net is comprised primarily of common area maintenance charges for the operating lease, which is dependent on usage. These costs are classified as operating lease expense due to the election to not separate lease and non-lease components. These costs were not included within the measurement of the Company’s operating lease ROU assets and operating lease liabilities. The following table presents supplemental cash flow information related to leases: Six Months Ended June 30, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 102 Operating cash flows from finance leases $ 3 Financing cash flows from finance leases $ 73 Right-of-use asset acquired under leases Operating leases $ 1,812 Finance leases $ 834 ASC 840 Disclosures The Company elected the alternative modified transition method, which applies ASC 842 as of the effective date on January 1, 2021. Prior to the adoption of ASC 842, the Company applied ASC 840 to its lease transactions. The following table presents the future minimum lease commitments under the Company’s operating leases as of December 31, 2020, as previously disclosed (in thousands): December 31, 2020 2021 140 2022-2023 206 Total future minimum lease payments $ 346 Rent expense was $0.2 million and $0.4 million, respectively, for the three and six months ended June 30, 2020.

Term Loan

Term Loan	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
TERM LOAN AND RELATED DERIVATIVES	(6) TERM LOAN AND RELATED DERIVATIVES The Company’s wholly-owned subsidiaries Alexo Therapeutics International and Sirpant Therapeutics, as borrowers, entered into a Loan and Security Agreement, or the Loan Agreement, dated as of December 20, 2019, with Silicon Valley Bank, or SVB, and WestRiver, collectively as lenders, and SVB, as administrative agent and collateral agent. On the closing date of the Loan Agreement in December 2019, $6.0 million was funded to the Company. In December 2020, the Company repaid the loan balance. In conjunction with the Loan Agreement, the Company issued warrants to purchase Series B convertible preferred stock to SVB and WestRiver, and recorded a warrant liability of approximately $0.4 million at the date of issuance. The Company also determined that certain loan features were embedded derivatives requiring bifurcation and separate accounting, and recorded a term loan compound derivative liability of approximately $51,000. The Company measured its Series B convertible preferred stock warrant liability and term loan compound derivative liability at fair value on a recurring basis, which were classified as Level 3 liabilities. During the three months ended June 30, 2020, the increase in fair value in warrant liability was approximately $309,000 and the compound derivative liability balance changed by a nominal amount. During the six months ended June 30, 2020, the increases in fair value in warrant liability and compound derivative liability were approximately $395,000 and $13,000, respectively. Those amounts were recognized as a component of other income (expense), net in the condensed consolidated statement of operations and comprehensive loss. The Company reclassified the preferred stock warrant liability balance into additional paid-in capital in July 2020 with no further re-measurement required, as the common stock warrants are considered permanent equity effective with the completion of the initial public offering. The compound derivative liability was extinguished upon the extinguishment of the host instrument in December 2020.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	(7) STOCKHOLDERS’ EQUITY On July 21, 2020, the Company’s amended and restated certificate of incorporation became effective, authorizing 1,000,000,000 shares of common stock and 100,000,000 shares of undesignated preferred stock. As of June 30, 2021 and December 31, 2020, the Company had 40,325,270 and 39,844,522 shares of common stock outstanding, respectively. Common Stock Common stock reserved for future issuance as of June 30, 2021 and December 31, 2020, consists of the following: June 30, December 31, 2021 2020 Stock options issued and outstanding 4,417,249 4,857,308 Stock options authorized for future issuance 4,390,750 2,835,443 Employee Stock Purchase Plan shares authorized for future issuance 796,232 400,000 Total 9,604,231 8,092,751

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
STOCK-BASED COMPENSATION	(8) STOCK-BASED COMPENSATION 2020 Amended and Restated Equity Incentive Plan On April 1, 2020, the board of directors approved a new equity incentive plan, or the 2020 Equity Incentive Plan, that replaced the 2015 Share Award Scheme. In July 2020, the Company adopted the Amended and Restated 2020 Equity Incentive Plan, or the 2020 Plan. The 2020 Plan replaced the Company’s 2020 Equity Incentive Plan and a total of 7,874,862 shares were reserved under the 2020 Plan. Unless the board of directors provides otherwise, beginning on January 1, 2021, and ending on (and inclusive of) January 1, 2030, the maximum number of shares available for issuance under the 2020 Plan automatically increases on the first day of each fiscal year by an amount equal to the least of: • 4,000,000 shares; • four percent of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year; or • such number of shares as the board of directors may determine no later than the last day of the immediately preceding fiscal year. Accordingly, on January 1, 2021, the number of shares available under the 2020 Plan was increased by 1,593,781 Employee Stock Purchase Plan In July 2020, the Company's board of directors and stockholders approved the ALX Oncology Holdings Inc. 2020 Employee Stock Purchase Plan, or the ESPP. The ESPP allows eligible employees to have up to 15 percent of their eligible compensation withheld and used to purchase common stock, subject to a maximum of $25,000 worth of stock purchased in a calendar year or no more than 3,000 shares in a purchase period, whichever is less. The ESPP allows for offering periods of up to 27 months consisting of one or more purchase periods. In January 2021, the board of directors approved the first offering period with a simultaneous purchase period beginning February 1, 2021 and ending June 30, 2021. The board of directors delegated the Company’s Chief Executive Officer and the Chief Financial Officer to administrate the ESPP for subsequent offering periods. Eligible employees can purchase the Company’s common stock at the end of the purchase period at 85% of the lower of the closing price of the Company’s common stock on the Nasdaq Global Select Market on the first day of the offering period and the last day of the purchase period . The initial number of shares of common stock available for issuance under the ESPP was 400,000. Unless the board of directors provides otherwise, beginning on January 1, 2021, the maximum number of shares available for sale under the ESPP automatically increases on the first trading day in January of each calendar year during the term of the ESPP by an amount equal to the least of: • 800,000 shares; • one percent of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year; or • such number of shares as the board of directors may determine no later than the last day of the immediately preceding fiscal year. Accordingly, on January 1, 2021, the number of shares available under the ESPP was increased by 398,445 shares. As of June 30, 2021, 2,213 shares of common stock have been purchased under the ESPP, and the number of shares of common stock available for issuance under the ESPP was 796,232. S tock -based Compensation Expense Total stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Research and development $ 715 $ 2,284 $ 1,294 $ 2,367 General and administrative 1,522 569 2,743 637 $ 2,237 $ 2,853 $ 4,037 $ 3,004

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS	(9) RELATED-PARTY TRANSACTIONS Related-party revenue In June 2018, the Company entered into a Research and Development Services Agreement, or Tollnine Agreement, with Tollnine Therapeutics, Inc., or Tollnine, a related-party of the Company, to provide research and development services to Tollnine. The Company’s Chief Executive Officer was also the Chief Executive Officer of Tollnine until April 2020 and two of the Company’s investors were also investors in Tollnine. As such, Tollnine was deemed to be a related-party. The Tollnine Agreement had an initial term of 3 years. The services were provided at a price based on the costs incurred by the Company plus a mark-up equal to 10% of such costs. The Company recognized revenue when Tollnine, as the Company’s customer, obtained control of promised goods or services, in an amount that reflects the consideration which the Company received in exchange for those goods or services. The Company recognized related-party revenues of $0.5 million and $1.2 million for the three and six months ended June 30, 2020, respectively, under the Tollnine Agreement. Effective as of July 1, 2020, the Company terminated the Tollnine Agreement and entered into the Tallac Services Agreement with Tallac Therapeutics (formerly known as Tollnine). Tallac Service Agreement The Company entered into a research and development services agreement, or the Tallac Services Agreement, with Tallac Therapeutics effective as of July 1, 2020. The Tallac Services Agreement provides that Tallac Therapeutics will provide certain preclinical research services to the Company for a service fee based on the costs incurred by Tallac Therapeutics plus a mark-up equal to 10% of such costs. The Tallac Services Agreement has an initial term of four years and is renewed automatically for additional one year terms thereafter. The Company records the payments for the research and development services as research and development costs within the condensed consolidated statement of operations and comprehensive loss. The Company has recorded $0.1 million and $0.5 million, respectively, as research and development costs for the three and six months ended June 30, 2021. Tallac Collaboration Agreement On March 4, 2021, the Company entered into a Collaboration Agreement with Tallac Therapeutics to jointly develop, manufacture, and commercialize a novel class of cancer immunotherapeutics. The collaboration builds on the Company’s expertise in developing therapies that block the CD47 checkpoint pathway and expands its immuno-oncology pipeline. The companies will leverage their respective scientific and technical expertise to advance an anti-SIRPα antibody conjugated to a Toll-like receptor 9, or TLR9, agonist for targeted activation of both the innate and adaptive immune systems. The key economic components of the collaboration transaction include that both parties will share equally (a) in the cost and expenses of research and development and (b) any profit or loss. The Company accounts for research and development, or R&D, costs in accordance ASC 730, Research and Development, which states R&D costs must be charged to expense as incurred. Accordingly, the Company records its internal and third-party costs associated with the collaboration as R&D expenses as incurred. When the Company is entitled to reimbursement of the R&D expenses that it incurs under the collaboration, the Company records those reimbursable amounts as a reduction to R&D expenses. The Company also records as R&D expenses, the portion of Tallac’s expenses that the Company is obligated to reimburse, in the period when Tallac incurs such expenses. During the three and six months ended June 30, 2021, the Company recorded $0.6 million in R&D expenses related to the collaboration. The Collaboration Agreement includes the right to set off clause, as such, the Company records the amount due to or reimbursable from Tallac on a net basis. As of June 30, 2021, the Company had $0.6 million of accrued expenses due to Tallac which was presented within the payable and accrued liabilities - related party on the condensed consolidated balance sheet.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS	(10) NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Net loss $ (16,274 ) $ (11,331 ) $ (30,459 ) $ (16,785 ) Less: cumulative preferred dividends allocated to preferred stockholders — (2,641 ) — (4,624 ) Net loss attributable to common stockholders $ (16,274 ) $ (13,972 ) $ (30,459 ) $ (21,409 ) Denominator: Weighted-average shares of common stock outstanding 40,247,110 3,164,707 40,151,802 3,157,387 Net loss per share attributable to common stockholders, basic and diluted $ (0.40 ) $ (4.41 ) $ (0.76 ) $ (6.78 ) Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods presented as the inclusion of all potential common stock outstanding would have been anti-dilutive. The following outstanding potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive: June 30, 2021 2020 Convertible preferred stock — 21,369,774 Warrants to purchase convertible preferred stock — 61,292 Common stock subject to repurchase — 3,908 Options issued and outstanding 4,417,249 3,874,815 Estimated common stock issuable under the employee stock purchase plan 3,994 — Total 4,421,243 25,309,789

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(11) COMMITMENTS AND CONTINGENCIES Guarantees and Indemnifications In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations. The Company also has indemnification obligations to its officers and directors for specified events or occurrences, subject to some limits, while they are serving at the Company’s request in such capacities. There have been no claims to date and the Company has director and officer insurance that may enable the Company to recover a portion of any amounts paid for future potential claims. The Company believes the fair value of these indemnification agreements is minimal. Accordingly, the Company has not recorded any liabilities for these agreements as of June 30, 2021. Contingencies From time to time, the Company may be a party to various claims in the normal course of business. Legal fees and other costs associated with such actions will be expensed as incurred. The Company will assess, in conjunction with its legal counsel, the need to record a liability for litigation and contingencies. Reserve estimates will be recorded when and if it is determined that a loss related matter is both probable and reasonably estimable. For the six months ended June 30, 2021 the Company had no pending or threatened litigation. Leases The Company has operating leases related to its office spaces and embedded finance leases related to a pharmaceutical support services agreement License Agreements In March 2015, the Company entered into a license agreement, or the Stanford Agreement, with the Board of Trustees of the Leland Stanford Junior University, or Stanford, under which the Company obtained a worldwide, royalty-bearing, sublicensable license under certain patents relating to the Company’s current product candidates, to develop, manufacture and commercialize products for use in certain licensed fields, the scope of which would include the application of the licensed intellectual property in oncology. The Company paid Stanford a nonrefundable license royalty and reimbursed Stanford for past patent expenses, together totaling less than $0.1 million, and granted Stanford a specified number of shares of common stock of the Company. The Company is required to make milestone payments up to an aggregate of $5.0 million in respect of a specified number of licensed products that successfully satisfy certain clinical and regulatory milestones. The Company recorded the first milestone payment of $0.2 million during the three months ended June 30, 2021. In June 2016, the Company entered into a license agreement with Selexis SA, or Selexis, under which the Company obtained a worldwide, royalty-bearing, sublicensable license under certain patents, know-how and other intellectual property, to use Selexis generated cell lines to manufacture evorpacept (also known as ALX148), and to make, use and sell licensed product containing such compound in all fields of use. The Company paid Selexis a nominal one-time fee and will pay Selexis an annual maintenance fee. The Company also agreed to pay Selexis milestone payments up to an aggregate of 1.2 million Swiss Francs in respect of all licensed products developed and/or commercialized under the grant that successfully satisfies certain milestone events. The Company recorded a milestone payment of $0.1 million during the three months ended June 30, 2021. In March 2017, the Company entered into an agreement with Crystal Bioscience Inc. (now a subsidiary of Ligand Pharmaceuticals Incorporated), or Crystal, under which the Company obtained an assignment of certain patents, covering certain SIRPα antibodies. Under this agreement, the Company also received a worldwide, royalty-bearing non-exclusive license, with the right to grant sublicenses through multiple tiers of sublicenses, under certain of Crystal’s background patents and know-how necessary to commercialize the rights under the assigned patents. The Company agreed to pay Crystal milestone payments up to $11.1 million in respect of all licensed products developed under the assigned patents, that successfully satisfy certain clinical and regulatory milestones, each milestone being paid only once for all products. No as of June 30, 2021. Other Contractual Obligations and Other Commitments In November 2015, the Company entered into a Master Service Agreement, or the MSA, with KBI Biopharma, Inc. relating to formulation development, process development and current good manufacturing practices, or cGMP, manufacturing of evorpacept for use in clinical trials on a project basis. The MSA had an initial term of three years with successive one-year The Company enters into contracts in the normal course of business with various third parties for clinical trials, preclinical research studies and testing, manufacturing and other services and products for operating purposes. These contracts generally provide for termination upon notice. Payments due upon cancellation consist only of payments for services provided or expenses incurred, including non-cancellable obligations of our service providers, up to the date of cancellation.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Preparation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States, or GAAP and applicable rules and regulations of the Securities and Exchange Commission, or SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year ending December 31, 2021. All intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain reclassifications have also been made within the condensed consolidated balance sheet as of December 31, 2020 to conform to the current year presentation. The Company reclassified approximately $0.1 million out of accrued expenses and other current liabilities into payable and accrued liabilities due to related-party. Total current liabilities as of December 31, 2020 did not change as a result of these reclassifications.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its estimates, including those related to the estimated useful lives of long-lived assets, clinical trial accruals, fair value of assets and liabilities, income taxes and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could materially differ from those estimates.
Significant Accounting Policies Policy	Significant Accounting Policies With the exception of the change for the accounting of leases as a result of the adoption of Accounting Standards Update (ASU) No. 2016-02, Leases, Topic 842, or Accounting Standards Codification (ASC) 842, there have been no new or material changes to the significant accounting policies discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Leases	Leases The Company determines if an arrangement contains a lease at inception. For arrangements where the Company is the lessee, leases are included in operating or finance lease right-of-use, or ROU, assets; current operating or finance lease liabilities; and non-current operating or finance lease liabilities. Lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. ROU assets also include any initial direct costs incurred and any lease payments made on or before the lease commencement date, less lease incentives received. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the lease liabilities as the Company’s leases generally do not provide an implicit rate. The incremental borrowing rate is reevaluated upon a lease modification. The Company considered information available at the adoption date of Topic 842 to determine the incremental borrowing rate for leases in existence as of this date. Lease terms may include options to extend or terminate the lease when the Company is reasonably certain that the option will be exercised. Lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, ROU assets are amortized on a straight-line basis over the shorter of the expected useful life or the lease term, and the carrying amount of the lease liability is adjusted to reflect interest, which is recorded in interest expense. The Company elected to apply each of the practical expedients described in Topic 842 which allow companies (i) not to reassess prior conclusions on whether any expired or existing contracts are or contain a lease, lease classification, and initial direct costs, (ii) combine lease and non-lease components for all underlying assets groups, and (iii) not recognize ROU assets or lease liabilities for short term leases. A short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise.
Adopted Accounting Pronouncements	Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued ASU No. 2016-02 (Topic 842), Leases (ASU 2016-02). ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both operating and finance leases. ASU No. 2016-02 will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. In June 2020, the FASB issued ASU No. 2020-05, which extended the effective date of ASU No. 2016-02 for non-public business entities, including smaller reporting companies, to fiscal years beginning after December 15, 2021. The Company adopted Topic 842 on January 1, 2021, with early adoption permitted using the alternative modified transition method, which applies the standard as of the effective date and therefore, the Company has not applied the standard to the comparative periods presented on the Company's financial statements. The Company elected the following practical expedients: (i) not to reassess prior conclusions on whether any expired or existing contracts are or contain a lease, lease classification, and initial direct costs; (ii) combine lease and non-lease components (iii) not to recognize ROU assets or lease liabilities for short term leases As a lessee, the primary impact of the adoption of Topic 842 was the recognition of operating and finance lease ROU assets of $0.3 million and $0.2 million, respectively, and operating and finance lease liabilities of $0.3 million and $0.2 million, respectively, as of January 1, 2021. ROU assets are presented within other assets, current lease liabilities are presented within accrued expenses and other current liabilities, and non-current lease liabilities are presented within other non-current liabilities on the condensed consolidated balance sheet. See Note 5 "Leases" for additional details. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021. ASU 2019-12 is effective for the Company beginning January 1, 2022. Early adoption is permitted. The Company adopted this standard as of January 1, 2021 on a prospective basis and there was no material impact on its condensed consolidated financial statements and disclosures as a result of the adoption.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Financial Assets Measured at Fair Value on Recurring Basis	The following table sets forth the Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): As of June 30, 2021 Level 1 Level 2 Level 3 Fair Value Financial assets Cash equivalents Money market funds $ 398,145 $ — $ — $ 398,145 As of December 31, 2020 Level 1 Level 2 Level 3 Fair Value Financial assets Cash equivalents Money market funds $ 424,115 $ — $ — $ 424,115

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Components of Property and Equipment	The following table presents the components of property and equipment, net as of June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 Computer hardware and software $ 63 $ 63 Furniture and fixtures 6 9 Leasehold improvements 131 5 Property and equipment, gross 200 77 Less: accumulated depreciation and amortization (33 ) (25 ) Total property and equipment, net $ 167 $ 52
Components of Accrued Expenses and Other Current Liabilities	The following table presents the components of accrued expenses and other current liabilities as of June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 Accrued clinical and nonclinical study costs $ 3,325 $ 1,401 Accrued compensation and related expenses 1,769 1,974 Accrued contract manufacturing 1,322 2,123 Finance lease liabilities, current 429 — Accrued professional fees 225 300 Other 205 151 Operating lease liabilities, current 110 — Accrued Federal Income Tax — 179 Total accrued expenses and other current liabilities $ 7,385 $ 6,128

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Maturities of Operating and Finance Lease Liabilities	The following table presents the maturities and balance sheet information of the Company's operating and finance lease liabilities as of June 30, 2021 (in thousands, except lease term and discount rate) June 30, 2021 Operating Leases Finance Leases 2021 (remaining six months) $ 78 $ 216 2022 519 432 2023 482 288 2024 433 — 2025 446 — Thereafter 302 — Total lease payments 2,260 936 Less: imputed interest (202 ) (18 ) Total lease liabilities $ 2,058 $ 918 Lease liabilities: current ( i ) $ 251 $ 429 Lease liabilities: non-current (ii) 1,807 489 Total lease liabilities $ 2,058 $ 918 Weighted average remaining lease term (in years) 4.7 2.2 Weighted average discount rate 3.4 % 1.7 % (i) Current lease liabilities were presented within accrued expenses and other current liabilities and payable and accrued liabilities due to related party of $0.1 million and $0.1 million, respectively, on the condensed consolidated balance sheet. (ii) Non-current lease liabilities were presented within other non-current liabilities on the condensed consolidated balance sheet.
Components of Lease Costs	The following table presents the components of lease costs (in thousands): Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Operating lease cost $ 62 $ 97 Variable lease cost and other, net ( i ) 17 39 Finance lease cost Amortization of right-of-use assets 90 145 Interest 3 6 Total lease cost $ 172 $ 287 (i) The Variable lease cost and other, net is comprised primarily of common area maintenance charges for the operating lease, which is dependent on usage. These costs are classified as operating lease expense due to the election to not separate lease and non-lease components. These costs were not included within the measurement of the Company’s operating lease ROU assets and operating lease liabilities.
Supplemental Cash Flow Information Related to Leases	The following table presents supplemental cash flow information related to leases: Six Months Ended June 30, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 102 Operating cash flows from finance leases $ 3 Financing cash flows from finance leases $ 73 Right-of-use asset acquired under leases Operating leases $ 1,812 Finance leases $ 834
Schedule of Future Minimum Lease Commitments under Operating Leases	The following table presents the future minimum lease commitments under the Company’s operating leases as of December 31, 2020, as previously disclosed (in thousands): December 31, 2020 2021 140 2022-2023 206 Total future minimum lease payments $ 346

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Common Stock Reserved for Future Issuance on Converted Basis	Common stock reserved for future issuance as of June 30, 2021 and December 31, 2020, consists of the following: June 30, December 31, 2021 2020 Stock options issued and outstanding 4,417,249 4,857,308 Stock options authorized for future issuance 4,390,750 2,835,443 Employee Stock Purchase Plan shares authorized for future issuance 796,232 400,000 Total 9,604,231 8,092,751

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Total Stock Based Compensation Expense	Total stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Research and development $ 715 $ 2,284 $ 1,294 $ 2,367 General and administrative 1,522 569 2,743 637 $ 2,237 $ 2,853 $ 4,037 $ 3,004

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss per Share	The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Net loss $ (16,274 ) $ (11,331 ) $ (30,459 ) $ (16,785 ) Less: cumulative preferred dividends allocated to preferred stockholders — (2,641 ) — (4,624 ) Net loss attributable to common stockholders $ (16,274 ) $ (13,972 ) $ (30,459 ) $ (21,409 ) Denominator: Weighted-average shares of common stock outstanding 40,247,110 3,164,707 40,151,802 3,157,387 Net loss per share attributable to common stockholders, basic and diluted $ (0.40 ) $ (4.41 ) $ (0.76 ) $ (6.78 )
Summary of Outstanding Potentially Dilutive Securities Were Excluded from Computation of Diluted Net Loss Per Share	The following outstanding potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive: June 30, 2021 2020 Convertible preferred stock — 21,369,774 Warrants to purchase convertible preferred stock — 61,292 Common stock subject to repurchase — 3,908 Options issued and outstanding 4,417,249 3,874,815 Estimated common stock issuable under the employee stock purchase plan 3,994 — Total 4,421,243 25,309,789

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jan. 01, 2021	Dec. 31, 2020
Significant Accounting Policies [Line Items]
Accrued expenses and other current liabilities	$ 7,385		$ 6,128
Payable and accrued liabilities due to related-party	$ 788		72
Lease, practical expedients, package [true false]	true
Operating lease ROU assets	$ 2,100
Finance lease ROU assets	1,000
Operating lease liabilities	2,058
Finance lease liabilities	$ 918
Finance lease, right-of-use asset, statement of financial position [extensible list]	Other assets
Finance lease, liability, current, statement of financial position [extensible list]	Accrued expenses and other current liabilities
Finance lease, liability, noncurrent, statement of financial position [extensible list]	Other non-current liabilities
Operating lease, right-of-use asset, statement of financial position [extensible list]	Prepaid expenses and other current assets
Operating lease, liability, current, statement of financial position [extensible list]	Accrued expenses and other current liabilities
Operating lease, liability, noncurrent, statement of financial position [extensible list]	Other non-current liabilities
ASU 2016-02
Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 1, 2021
Operating lease ROU assets		$ 300
Finance lease ROU assets		200
Operating lease liabilities		300
Finance lease liabilities		$ 200
ASU 2019-12
Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 1, 2021
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
Revision of Prior Period, Reclassification, Adjustment
Significant Accounting Policies [Line Items]
Accrued expenses and other current liabilities			(100)
Payable and accrued liabilities due to related-party			$ 100

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value on Recurring Basis - Money Market Funds - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial assets
Cash equivalents	$ 398,145	$ 424,115
Level 1
Financial assets
Cash equivalents	$ 398,145	$ 424,115

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets transferred from level 1 to level 2	$ 0	$ 0	$ 0	$ 0
Fair value assets transferred from level 2 to level 1	0	0	0	0
Fair value liabilities transferred from level 1 to level 2	0	0	0	0
Fair value liabilities transferred from level 2 to level 1	0	0	0	0
Fair value assets transferred into level 3	0	0	0	$ 0
Fair value assets transferred out of level 3	0	0	0
Fair value liabilities transferred into level 3	0	0	0
Fair value liabilities transferred out of level 3	0	$ 0	0
Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial liabilities fair value disclosure	$ 0		$ 0		$ 0

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Components of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 200	$ 77
Less: accumulated depreciation and amortization	(33)	(25)
Total property and equipment, net	167	52
Computer Hardware and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	63	63
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	6	9
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 131	$ 5

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Depreciation and amortization expense	$ 0.1	$ 0.2

Balance Sheet Components - Comp

Balance Sheet Components - Components of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued clinical and nonclinical study costs	$ 3,325	$ 1,401
Accrued compensation and related expenses	1,769	1,974
Accrued contract manufacturing	1,322	2,123
Finance lease liabilities, current	429
Accrued professional fees	225	300
Other	205	151
Operating lease liabilities, current	110
Accrued Federal Income Tax		179
Total accrued expenses and other current liabilities	$ 7,385	$ 6,128

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	May 31, 2021USD ($)ft²	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2017
Lessee Lease Description [Line Items]
Operating lease ROU assets			$ 2,100
Operating lease liabilities			$ 2,058
Option to extend term			no
Finance lease ROU assets			$ 1,000
Office Space at 866 Malcolm Road, Burlingame, California
Lessee Lease Description [Line Items]
Lessee, operating lease term of contract					5 years 4 months
Lessee, operating lease commencing end date					May 31, 2023
Operating lease ROU assets			300
Operating lease liabilities			300
Rent expense		$ 200		$ 400
Office Space at 333 Allerton Avenue, South San Francisco, California
Lessee Lease Description [Line Items]
Lessee, operating lease commencing end date	Aug. 31, 2026
Operating lease ROU assets	$ 2,000
Operating lease liabilities			$ 1,800
Area of operating lease | ft²	10,000
Operating lease, description			Company entered into a lease agreement for office space totaling approximately 10,000 square feet at 323 Allerton Avenue, South San Francisco, California. The term of the lease is from July 5, 2021 to August 31, 2026, with early entry date of June 6, 2021. The lease does not provide an option to extend after it expires. The total lease payments for the life of the lease is approximately $2.0 million. The Company obtained the right to direct the usage of the office space on the early entry date, and therefore considered June 6, 2021 as the lease commencement date.
Existence of option to extend	false
Lessee, operating lease early entry date	Jun. 6, 2021
Option to extend term	no

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating and Finance Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (remaining six months)	$ 78
2022	519
2023	482
2024	433
2025	446
Thereafter	302
Total lease payments	2,260
Less: imputed interest	(202)
Operating lease liabilities	2,058
Lease liabilities: current	251
Lease liabilities: non-current	1,807
Total lease liabilities	$ 2,058
Weighted average remaining lease term (in years)	4 years 8 months 12 days
Weighted average discount rate	3.40%
Finance Lease, Liability, Payment, Due [Abstract]
2021 (remaining six months)	$ 216
2022	432
2023	288
Total lease payments	936
Less: imputed interest	(18)
Finance lease liabilities	918
Finance lease liabilities, current	429
Finance leases: non-current	489
Total lease liabilities	$ 918
Weighted average remaining lease term (in years)	2 years 2 months 12 days
Weighted average discount rate	1.70%

Leases - Schedule of Maturiti_2

Leases - Schedule of Maturities of Operating and Finance Lease Liabilities (Parenthetical) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Lessee Lease Description [Line Items]
Operating current lease liabilities	$ 251
Finance current lease liabilities	429
Accrued Expenses and Other Current Liabilities and Payable and Accrued Liabilities Due to Related Party
Lessee Lease Description [Line Items]
Operating current lease liabilities	100
Finance current lease liabilities	$ 100

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 62	$ 97
Variable lease cost and other, net	17	39
Finance lease cost, Amortization of right-of-use assets	90	145
Finance lease cost, Interest	3	6
Total lease cost	$ 172	$ 287

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 102
Operating cash flows from finance leases	3
Financing cash flows from finance leases	73
Right-of-use asset acquired under leases
Operating leases	1,812
Finance leases	$ 834

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Commitments under Operating Leases (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
2021	$ 140
2022-2023	206
Total future minimum lease payments	$ 346

Term Loan and Related Derivativ

Term Loan and Related Derivatives - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Dec. 20, 2019
Debt Instrument [Line Items]
Increase in fair value of warrant liability	$ 309,000	$ 395,000
Compound Derivative Liability
Debt Instrument [Line Items]
Fair value of compound derivative liability			$ 51,000
Increase in fair value of compound derivative liability		$ 13,000
Series B Convertible Preferred Stock
Debt Instrument [Line Items]
Warrant liability converted into common stock			$ 400,000
Loan Agreement
Debt Instrument [Line Items]
Term loan, principal amount				$ 6,000,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares	Jun. 30, 2021	Dec. 31, 2020	Jul. 21, 2020
Class Of Stock [Line Items]
Common stock, shares authorized	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, shares outstanding	40,325,270	39,844,522
Undesignated Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock, shares authorized			100,000,000

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Reserved for Future Issuance on Converted Basis (Details) - shares	Jun. 30, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Common stock reserved for future issuance	9,604,231	8,092,751
Stock Options Issued and Outstanding
Class Of Stock [Line Items]
Common stock reserved for future issuance	4,417,249	4,857,308
Stock Options Authorized for Future Issuance
Class Of Stock [Line Items]
Common stock reserved for future issuance	4,390,750	2,835,443
Employee Stock Purchase Plan Shares Authorized for Future Issuance
Class Of Stock [Line Items]
Common stock reserved for future issuance	796,232	400,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	Jan. 01, 2021	Jul. 31, 2020	Jun. 30, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance			9,604,231	8,092,751
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance		400,000	796,232
Maximum percentage of additional shares reserved for future issuance			1.00%
Number of additional shares reserved for future issuance	398,445
Percentage of eligible compensation withheld		15.00%
Share-based compensation, authorized amount		$ 25,000
Share-based compensation, number of shares authorized		3,000
Share-based compensation, maximum offering period		27 months
Share-based Compensation, lower of closing price, percentage		85.00%
Number of shares purchased			2,213
Maximum | ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance			800,000
2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance		7,874,862
Maximum percentage of additional shares reserved for future issuance			4.00%
Number of additional shares reserved for future issuance	1,593,781
2020 Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance			4,000,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Total Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,237	$ 2,853	$ 4,037	$ 3,004
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	715	2,284	1,294	2,367
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,522	$ 569	$ 2,743	$ 637

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Details) $ in Thousands	Jul. 01, 2020	Jun. 30, 2018	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)Investor
Related Party Transaction [Line Items]
Related-party revenue				$ 527		$ 1,182
Research and development costs			$ 11,213	7,663	$ 21,062	$ 11,491
Tollnine | Research and Development Services Agreement
Related Party Transaction [Line Items]
Number of company's investors who are investors in related party as well | Investor						2
Related-party revenue				$ 500		$ 1,200
Initial term of agreement with related party		3 years
Markup cost in percentage		10.00%
Tallac Therapeutics | Research and Development Services Agreement
Related Party Transaction [Line Items]
Initial term of agreement with related party	4 years
Agreement automatically renewal additional term unless terminated	1 year
Markup cost in percentage	10.00%
Research and development costs			100		500
Tallac Therapeutics | Collaboration Agreement
Related Party Transaction [Line Items]
Research and development costs			600		600
Accrued expenses due			$ 600		$ 600

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net loss	$ (16,274)	$ (14,185)	$ (11,331)	$ (5,454)	$ (30,459)	$ (16,785)
Less: cumulative preferred dividends allocated to preferred stockholders			(2,641)			(4,624)
Net loss attributable to common stockholders	$ (16,274)		$ (13,972)		$ (30,459)	$ (21,409)
Denominator:
Weighted-average shares of common stock outstanding	40,247,110		3,164,707		40,151,802	3,157,387
Net loss per share attributable to common stockholders, basic and diluted	$ (0.40)		$ (4.41)		$ (0.76)	$ (6.78)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Summary of Outstanding Potentially Dilutive Securities Were Excluded from Computation of Diluted Net Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4,421,243	25,309,789
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share		21,369,774
Warrants to Purchase Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share		61,292
Common Stock Subject to Repurchase
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share		3,908
Estimated Common Stock Issuable Under the Employee Stock Purchase Plan
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,994
Options Issued and Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4,417,249	3,874,815

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Nov. 30, 2015	Jun. 30, 2021	Jun. 30, 2021
Indemnification Agreement
Commitments And Contingencies [Line Items]
Guarantee obligations		$ 0	$ 0
Exclusive Equity Agreement | Stanford Junior University
Commitments And Contingencies [Line Items]
Nonrefundable license royalty and patent expenses			100,000
Clinical and regulatory milestones payments		5,000,000	5,000,000
Milestone payments related to clinical and regulatory		200,000
Commercial License Agreement | Selexis SA
Commitments And Contingencies [Line Items]
Clinical and regulatory milestones payments		1,200,000	1,200,000
Milestone payments related to clinical and regulatory		100,000
Commercial Antibody Agreement | Crystal Bioscience Inc
Commitments And Contingencies [Line Items]
Clinical and regulatory milestones payments		$ 11,100,000	11,100,000
Milestone payments related to clinical and regulatory			$ 0
Master Service Agreement
Commitments And Contingencies [Line Items]
Initial term of agreement	3 years
Renewal periods of agreement	1 year
Future purchase obligations	$ 6,200,000
Master Service Agreement | Two Drug Product Manufacturer
Commitments And Contingencies [Line Items]
Future purchase obligations	$ 1,400,000