Janux Therapeutics (JANX) 10-K 10 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 08, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Trading Symbol	JANX
Security12b Title	Common Stock, $0.001 par value per share
Security Exchange Name	NASDAQ
Entity Registrant Name	Janux Therapeutics, Inc.
Entity Central Index Key	0001817713
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Entity Public Float			$ 204.8
Entity Common Stock, Shares Outstanding		41,833,315
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-40475
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2289112
Entity Address, Address Line One	10955 Vista Sorrento Parkway, Suite 200
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	751-4493
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement for its 2023 Annual Meeting of Stockholders, which the Registrant intends to file pursuant to Regulation 14A with the Securities and Exchange Commission not later than 120 days after the Registrant’s fiscal year ended December 31, 2022, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	San Diego, California

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 51,426	$ 35,582
Short-term investments	275,590	339,383
Prepaid expenses and other current assets	5,423	2,054
Total current assets	332,439	377,019
Restricted cash	816	816
Property and equipment, net	7,086	1,412
Operating lease right-of-use assets	22,279	185
Other long-term assets	1,390	392
Total assets	364,010	379,824
Current liabilities:
Accounts payable	2,159	2,458
Accrued liabilities	8,010	3,779
Current portion of deferred revenue	5,406	5,163
Unvested stock liabilities	169	1,203
Current portion of operating lease liabilities	763	194
Total current liabilities	16,507	12,797
Deferred revenue, net of current portion	2,221	700
Operating lease liabilities, net of current portion	24,542	0
Total liabilities	43,270	13,497
Commitments and contingencies (Note 3)
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value; authorized shares - 10,000,000 at December 31,2002 and 2021, respectivley no shares issued and outstanding at December 31, 2022 and 2021
Common stock, $0.001 par value; authorized shares - 200,000,000 at December 31, 2022 and 2021, respectively; issued shares - 41,684,666 and 41,622,962 at December 31, 2022 and 2021, respectively; outstanding shares - 41,616,260 and 41,243,137 at December 31, 2022 and 2021, respectively	42	41
Additional paid-in capital	432,703	413,967
Accumulated other comprehensive loss	(1,535)	(270)
Accumulated deficit	(110,470)	(47,411)
Total stockholders' equity	320,740	366,327
Total liabilities and stockholders' equity	$ 364,010	$ 379,824

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	41,684,666	41,622,962
Common stock, shares outstanding	41,616,260	41,243,137

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Collaboration revenue	$ 8,612	$ 3,637
Operating expenses:
Research and development (includes related party amounts of $537 and $1,609, respectively)	53,441	26,237
General and administrative (includes related party amounts of $91 and $325, respectively)	22,262	10,329
Total operating expenses	75,703	36,566
Loss from operations	(67,091)	(32,929)
Other income:
Interest income	4,032	257
Total other income	4,032	257
Net loss	(63,059)	(32,672)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale securities, net	(1,265)	(270)
Comprehensive loss	$ (64,324)	$ (32,942)
Net loss per common share, basic	$ (1.52)	$ (1.39)
Net loss per common share, diluted	$ (1.52)	$ (1.39)
Weighted average number of shares outstanding, basic	41,469,631	23,530,252
Weighted-average shares of common stock outstanding, diluted	41,469,631	23,530,252

Statements of Operations and _2

Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Research and development expense	$ 53,441	$ 26,237
General and administrative expenses	22,262	10,329
Related Party
Research and development expense	537	1,609
General and administrative expenses	$ 91	$ 325

Statements of Convertible Prefe

Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Convertible Preferred Stock [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Temporary equity, Beginning balance at Dec. 31, 2020		$ 21,624
Temporary equity, Beginning balance (in shares) at Dec. 31, 2020		6,838,829
Beginning balance at Dec. 31, 2020	$ (14,638)				$ 1	$ 100		$ (14,739)
Beginning balance (in shares) at Dec. 31, 2020					1,046,599
Issuance of convertible preferred stock, net of issuance costs			$ 55,722	$ 124,825
Issuance of convertible preferred stock, net of issuance costs (in shares)			5,894,740	8,038,073
Conversion of convertible preferred stock to common stock in connection with initial public offering, converted	(202,171)	$ (202,171)
Conversion of convertible preferred stock to common stock in connection with initial public offering, converted (in shares)		(20,771,642)
Conversion of convertible preferred stock to common stock in connection with initial public offering, issued	202,171				$ 27	202,144
Conversion of convertible preferred stock to common stock in connection with initial public offering, issued (in shares)					26,608,460
Initial public offering, net of issuance costs	204,167				$ 13	204,154
Initial public offering, net of issuance costs (in shares)					13,110,000
Exercise of common stock options	20					20
Exercise of common stock options (in shares)					113,418
Shares issued under employee stock purchase plan	164					164
Shares issued under employee stock purchase plan (in shares)					11,452
Vesting of restricted shares	475					475
Vesting of restricted shares (in shares)					353,208
Stock-based compensation	6,910					6,910
Unrealized loss on available-for-sale securities, net	(270)						$ (270)
Net loss	(32,672)							(32,672)
Ending balance at Dec. 31, 2021	366,327				$ 41	413,967	(270)	(47,411)
Ending balance (in shares) at Dec. 31, 2021					41,243,137
Conversion of convertible preferred stock to common stock in connection with initial public offering, converted	0
Exercise of common stock options	$ 1					1
Exercise of common stock options (in shares)	7,405				7,405
Shares issued under employee stock purchase plan	$ 499					499
Shares issued under employee stock purchase plan (in shares)					54,299
Vesting of restricted shares	1,034				$ 1	1,033
Vesting of restricted shares (in shares)					311,419
Stock-based compensation	17,203					17,203
Unrealized loss on available-for-sale securities, net	(1,265)						(1,265)
Net loss	(63,059)							(63,059)
Ending balance at Dec. 31, 2022	$ 320,740				$ 42	$ 432,703	$ (1,535)	$ (110,470)
Ending balance (in shares) at Dec. 31, 2022					41,616,260

Statements of Convertible Pre_2

Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Series A Convertible Preferred Stock [Member]
Issuance costs	$ 278
Series B Convertible Preferred Stock [Member]
Issuance costs	175
Initial Public Offering [Member]
Issuance costs	$ 18,703

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (63,059)	$ (32,672)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	841	113
Loss on disposal of assets	0	3
Stock-based compensation	17,203	6,910
Amortization (accretion) of premiums/discounts on investments, net	(2,183)	(172)
Changes in operating assets and liabilities:
Accounts receivable	0	8,000
Prepaid expenses and other current assets	(3,369)	(1,805)
Other long-term assets	(1,270)	(392)
Accounts payable	(294)	2,139
Accrued expenses (includes related party amounts of $(25) and $(512), respectively)	4,156	3,028
Deferred revenue	1,764	(2,137)
Operating lease right-of-use assets and liabilities, net	3,289	9
Net cash used in operating activities	(42,922)	(16,976)
Cash flows from investing activities
Purchases of property and equipment	(6,445)	(1,482)
Purchases of short-term investments	(294,389)	(473,626)
Maturities of short-term investments	359,100	134,145
Net cash provided by (used in) investing activities	58,266	(340,963)
Cash flows from financing activities
Proceeds from exercise of vested and unvested common stock options and employee stock purchase plan	500	1,810
Proceeds from initial public offering, net of issuance costs	0	204,167
Net cash provided by financing activities	500	386,524
Net increase in cash, cash equivalents and restricted cash	15,844	28,585
Cash, cash equivalents and restricted cash - beginning of year	36,398	7,813
Cash, cash equivalents and restricted cash - end of year	52,242	36,398
Supplemental disclosure of noncash investing and financing activities
Conversion of convertible preferred stock to common stock in connection with initial public offering, converted	0	202,171
Unpaid property and equipment	109	38
Vesting of restricted common stock	1,034	475
Unrealized loss on available-for-sale securities, net	(1,265)	(270)
Operating lease liabilities arising from right-of-use assets	23,422	256
Series A Convertible Preferred Stock [Member]
Cash flows from financing activities
Proceeds from issuance of convertible preferred stock, net of issuance costs	0	55,722
Series B Convertible Preferred Stock [Member]
Cash flows from financing activities
Proceeds from issuance of convertible preferred stock, net of issuance costs	$ 0	$ 124,825

Statements of Cash Flows (Paren

Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Accrued expenses includes related party amounts	$ (25)	$ (512)

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summ ary of Significant Accounting Policies Organization Janux Therapeutics, Inc. (the “Company”) was incorporated in the State of Delaware in June 2017 and is based in San Diego, California. The Company is a clinical stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager ("TRACTr") and Tumor Activated Immunomodulator ("TRACIr") platforms to better treat patients suffering from cancer. Forward Stock Split In June 2021, the Company’s board of directors and stockholders approved an amendment to the Company’s certificate of incorporation to effect a forward split of shares of the Company’s common stock on a one-for- 1.281 basis, which was effected on June 4, 2021 (the “Forward Stock Split”). The number of authorized shares and the par values of the common stock and convertible preferred stock were not adjusted as a result of the Forward Stock Split. Accordingly, the outstanding shares of common stock as of December 31, 2020 presented in the accompanying Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) give retroactive effect to the Forward Stock Split. Liquidity and Capital Resources From its inception through December 31, 2022, the Company has devoted substantially all its efforts to organizing and staffing, business planning, raising capital and developing its TRACTr and TRACIr therapeutic platforms and clinical and preclinical assets. The Company has incurred net losses and negative cash flows from operations since inception and had an accumulated deficit of $ 110.5 million as of December 31, 2022. The Company has a limited operating history, has not generated any product revenue, and the sales and income potential of its business is unproven. To date the Company has funded its operations primarily with the net proceeds from the issuance of convertible promissory notes, the issuance of convertible preferred stock, the issuance of common stock in its initial public offering (“IPO”), the exercise of common stock options and amounts received under a collaboration agreement. The Company expects to incur substantial operating losses for the next several years and will need to obtain additional financing in order to continue its research and development activities, initiate and complete clinical trials and launch and commercialize any product candidates for which it receives regulatory approval. The Company plans to continue to fund its losses from operations and capital funding needs through public or private equity or debt financings or other sources. The COVID-19 pandemic continues to evolve and has resulted in a significant disruption of global capital markets. The impact of the COVID-19 pandemic on capital markets may affect the availability, amount and type of financing available to the Company in the future. If the Company is not able to secure adequate additional funding, the Company may be forced to make reductions in spending, extend payment terms with suppliers, liquidate assets where possible, or suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, results of operations and future prospects. There can be no assurance that such financing will be available or will be at terms acceptable to the Company. The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty. Management is required to perform an analysis over its ability to continue as a going concern. Management must first evaluate whether there are conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern (step 1). If management concludes that substantial doubt is raised, management is also required to consider whether its plans alleviate that doubt (step 2). Management’s assessment included the preparation of cash flow forecasts resulting in management’s conclusion that the Company has sufficient capital to fund operations for at least 12 months from the date the financial statements for the year ended December 31, 2022 are issued. Use of Estimates The Company’s financial statements are prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The preparation of the Company’s financial statements requires it to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s financial statements and accompanying notes. The most significant estimates in the Company’s financial statements relate to estimates to complete the performance obligations and the estimated transaction price for collaboration revenue, accruals for research and development expenses, stock-based compensation and fair value measurements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenues and expenses that are not readily apparent from other sources. Although the impact of the COVID-19 pandemic to the Company’s business and operating results presents additional uncertainty, the Company continues to use the best information available to update its accounting estimates. Actual results may differ materially and adversely from these estimates. Fair Value Measurements The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, prepaid and other current assets, accounts payable, and accrued liabilities, approximate fair value due to the short-term nature of those instruments. The fair value of assets classified within Level 1 is based on quoted prices in active markets as provided by the Company’s investment managers. The fair value of short-term investments classified within Level 2 is based on standard observable inputs, including reported trades, broker/dealer quotes, and bids and/or offers. The Company validates the quoted market prices provided by its investment managers by comparing the investment managers’ assessment of the fair values of the Company’s investment portfolio balance against the fair values of the Company’s investment portfolio balance obtained from an independent source. The Company has no financial liabilities recorded at fair value on a recurring basis. None of the Company’s non-financial assets or liabilities are recorded at fair value on a non-recurring basis. No transfers between levels have occurred during the periods presented. The following tables summarize the Company’s financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Total Quoted Prices in Significant Other Significant As of December 31, 2022: Assets: Cash equivalents: Money market funds $ 12,697 $ 12,697 $ — $ — Total cash equivalents 12,697 12,697 — — Short-term investments: U.S. Treasury securities 63,016 63,016 — — U.S. agency bonds 67,020 — 67,020 — U.S. agency discount notes 4,334 — 4,334 — Corporate debt securities 1,970 — 1,970 — Commercial paper 139,250 — 139,250 — Total short-term investments 275,590 63,016 212,574 — Restricted cash: Money market account 816 816 — — Total restricted cash 816 816 — — Total assets measured at fair value on a recurring basis $ 289,103 $ 76,529 $ 212,574 $ — Fair Value Measurements at Total Quoted Prices in Significant Other Significant As of December 31, 2021: Assets: Cash equivalents: Money market funds $ 15,020 $ 15,020 $ — $ — Commercial paper 9,998 — 9,998 — Total cash equivalents 25,018 15,020 9,998 — Short-term investments: U.S. Treasury securities 99,247 99,247 — — Corporate debt securities 6,026 — 6,026 — Commercial paper 234,110 — 234,110 — Total short-term investments 339,383 99,247 240,136 — Restricted cash: Money market account 816 816 — — Total restricted cash 816 816 — — Total assets measured at fair value on a recurring basis $ 365,217 $ 115,083 $ 250,134 $ — Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents include cash in readily available checking accounts, commercial paper and money market funds. Restricted Cash Restricted cash consists of a money market account securing a standby letter of credit issued in connection with the Company’s Torrey Plaza operating lease (as defined and described in Note 3). The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheets that sum to the amounts shown in the statements of cash flows (in thousands): December 31, 2022 2021 Cash and cash equivalents $ 51,426 $ 35,582 Restricted cash 816 816 Total cash and cash equivalents and restricted cash $ 52,242 $ 36,398 Short-Term Investments Short-term investments consist of U.S. treasury securities, U.S. agency bonds, U.S. agency discount notes, corporate debt securities and commercial paper. The Company has classified these investments as available-for-sale, as the sale of such investments may be required prior to maturity to implement management strategies, and therefore has classified all investment securities as current assets. Those investments with maturity dates of three months or less at the date of purchase are presented as cash equivalents in the accompanying balance sheets. Short-term investments are carried at fair value with the unrealized gains and losses included in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit) until realized. Any premium or discount arising at purchase is amortized or accreted to interest income as an adjustment to yield using the straight-line method over the life of the instrument. The Company records an allowance for credit losses when unrealized losses are due to credit-related factors. Realized gains and losses are calculated using the specific identification method and recorded as interest income. The following tables summarize short-term investments (in thousands): As of December 31, 2022 Amortized Unrealized Estimated Cost Gains Losses Fair Value U.S. Treasury securities $ 63,675 $ — $ ( 659 ) $ 63,016 U.S. agency bonds 67,421 — ( 401 ) 67,020 U.S. agency discount notes 4,321 13 — 4,334 Corporate debt securities 1,975 — ( 5 ) 1,970 Commercial paper 139,733 26 ( 509 ) 139,250 Total $ 277,125 $ 39 $ ( 1,574 ) $ 275,590 As of December 31, 2021 Amortized Unrealized Estimated Cost Gains Losses Fair Value U.S. Treasury securities $ 99,457 $ — $ ( 210 ) $ 99,247 Corporate debt securities 6,029 — ( 3 ) 6,026 Commercial paper 234,167 7 ( 64 ) 234,110 Total $ 339,653 $ 7 $ ( 277 ) $ 339,383 The amortized cost and estimated fair value in the tables above exclude $ 0.7 million and $ 0.2 million o f accrued interest receivable as of December 31, 2022 and 2021, respectively. Accrued interest receivable is included in prepaid expenses and other current assets in the accompanying balance sheets. Contractual maturities of available-for-sale debt securities are as follows (in thousands): As of December 31, 2022 Due in 1 Year or Less Due Between 1 and 2 Years U.S. Treasury securities $ 57,369 $ 5,647 U.S. agency bonds 37,202 29,818 U.S. agency discount notes 4,334 — Corporate debt securities — 1,970 Commercial paper 139,250 — Total $ 238,155 $ 37,435 As of December 31, 2021 Due in 1 Year or Less Due Between 1 and 2 Years U.S. Treasury securities $ 51,131 $ 48,116 Corporate debt securities 6,026 — Commercial paper 234,110 — Total $ 291,267 $ 48,116 As of December 31, 2022 , 41 out of 47 of ou r available-for-sale debt securities were in an aggregate gross unrealized loss position. The Company considers the decline in market value for the securities to be primarily attributable to current economic conditions and interest rate adjustments, rather than credit-related factors. No allowance for credit losses has been recorded as of December 31, 2022 or December 31, 2021. Additionally, no realized gains or losses on sales of short-term investments were recorded for the years ended December 31, 2022 or December 31, 2021. The following table summarizes our available-for-sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded at December 31, 2022, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands): Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized U.S. Treasury securities $ 15,566 $ ( 82 ) $ 47,450 $ ( 577 ) $ 63,016 $ ( 659 ) U.S. agency bonds 67,020 ( 401 ) — — 67,020 ( 401 ) Corporate debt securities 1,970 ( 5 ) — — 1,970 ( 5 ) Commercial paper 118,840 ( 509 ) — — 118,840 ( 509 ) Total $ 203,396 $ ( 997 ) $ 47,450 $ ( 577 ) $ 250,846 $ ( 1,574 ) There were no a vailable-for-sale debt securities in a continuous unrealized loss position for 12 months or longer at December 31, 2021. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in a federally insured financial institution in excess of federally insured limits. The Company has not experienced any losses in such account and management believes that the Company is not exposed to significant credit risk. The Company is also subject to credit risk from its accounts receivable. The Company generally does not perform evaluations of customers’ financial condition and generally does not require collateral. For the year ended December 31, 2022 , all of the Company’s revenue related to a single customer. Property and Equipment, Net Property and equipment, net consists of laboratory equipment, computer equipment and software, and construction in progress. Property and equipment is stated at cost and depreciated over the estimated useful lives of the assets (generally five years ) using the straight-line method. Repairs and maintenance costs are charged to expense as incurred. Impairment of Long-Lived Assets Long-lived assets consist of property and equipment. An impairment loss is recorded if and when events and circumstances indicate that assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The Company has no t recognized any impairment losses through December 31, 2022 . Deferred Revenue When the Company is entitled to bill its customers and receive payment from its customers in advance of its obligation to provide services or transfer goods to its customers, the Company includes the amounts in deferred revenue on its balance sheets. For further discussion, refer to the Company’s revenue recognition policy below. Leases The Company determines if a contract contains a lease at the inception of the contract and evaluates each lease agreement to determine whether the lease is an operating or finance lease. For leases where the Company is the lessee, right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Liabilities from operating leases are included in current portion of operating lease liabilities, and operating lease liabilities, net of current portion on the accompanying balance sheets. The Company does not have any financing leases. Short-term leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company does not have material short-term lease costs. Lease liabilities are measured at the present value of the lease payments not yet paid discounted using the discount rate for the lease established at the lease commencement date. To determine the present value, the implicit rate is used when readily determinable. For those leases where the implicit rate is not provided, the Company determines an incremental borrowing rate (“IBR”) based on the information available at the lease commencement date in determining the present value of lease payments. The IBR is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. ROU assets are measured as the present value of the lease payments and also include any prepaid lease payments made and any other indirect costs incurred, and exclude any lease incentives received. Lease terms may include the impact of options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company’s operating leases are subject to additional variable charges, including common area maintenance, property taxes, property insurance and other variable costs. Given the variable nature of such costs, they are recognized as expense as incurred. The Company has elected the practical expedient to account for the lease and non-lease components, such as common area maintenance charges, as a single lease component for the Company's facilities leases. The Company has elected to recognize lease incentives, such as tenant improvement allowances, at the lease commencement date as a reduction to the ROU asset and lease liabilities balance until paid to it by the lessor to the extent that the lease provides a specified fixed or maximum level of reimbursement and the Company is reasonably certain to incur reimbursable costs at least equaling such amounts. Revenue Recognition The Company recognizes revenue in a manner that depicts the transfer of control of a product or a service to a customer and reflects the amount of the consideration the Company is entitled to receive in exchange for such product or service. In doing so, the Company follows a five-step approach: (i) identify the contract 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, and (v) recognize revenue when (or as) the customer obtains control of the product or service. The Company considers the terms of a contract and all relevant facts and circumstances when applying the revenue recognition standard. A customer is a party that has entered into a contract with the Company, where the purpose of the contract is to obtain a product or a service that is an output of the Company’s ordinary activities in exchange for consideration. To be considered a contract, (i) the contract must be approved (in writing, orally, or in accordance with other customary business practices), (ii) each party’s rights regarding the product or the service to be transferred can be identified, (iii) the payment terms for the product or the service to be transferred can be identified, (iv) the contract must have commercial substance (that is, the risk, timing or amount of future cash flows is expected to change as a result of the contract), and (v) it is probable that the Company will collect substantially all of the consideration to which it is entitled to receive in exchange for the transfer of the product or the service. A performance obligation is defined as a promise to transfer a product or a service to a customer. The Company identifies each promise to transfer a product or a service (or a bundle of products or services, or a series of products and services that are substantially the same and have the same pattern of transfer) that is distinct. A product or a service is distinct if both (i) the customer can benefit from the product or the service either on its own or together with other resources that are readily available to the customer and (ii) the Company’s promise to transfer the product or the service to the customer is separately identifiable from other promises in the contract. Each distinct promise to transfer a product or a service is a unit of accounting for revenue recognition. If a promise to transfer a product or a service is not separately identifiable from other promises in the contract, such promises should be combined into a single performance obligation. The transaction price is the amount of consideration the Company is entitled to receive in exchange for the transfer of control of a product or a service to a customer. To determine the transaction price, the Company considers the existence of any significant financing component, the effects of any variable elements, noncash considerations and consideration payable to the customer. If a significant financing component exists, the transaction price is adjusted for the time value of money. If an element of variability exists, the Company must estimate the consideration it expects to receive and uses that amount as the basis for recognizing revenue as the product or the service is transferred to the customer. There are two methods for determining the amount of variable consideration: (i) the expected value method, which is the sum of probability-weighted amounts in a range of possible consideration amounts, and (ii) the mostly likely amount method, which identifies the single most likely amount in a range of possible consideration amounts. If a contract has multiple performance obligations, the Company allocates the transaction price to each distinct performance obligation in an amount that reflects the consideration the Company is entitled to receive in exchange for satisfying each distinct performance obligation. For each distinct performance obligation, revenue is recognized when (or as) the Company transfers control of the product or the service applicable to such performance obligation. In those instances where the Company first receives consideration in advance of satisfying its performance obligation, the Company classifies such consideration as deferred revenue until (or as) the Company satisfies such performance obligation. In those instances where the Company first satisfies its performance obligation prior to its receipt of consideration, the consideration is recorded as accounts receivable. The Company expenses incremental costs of obtaining and fulfilling a contract as and when incurred if the expected amortization period of the asset that would be recognized is one year or less, or if the amount of the asset is immaterial. Otherwise, such costs are capitalized as contract assets if they are incremental to the contract and amortized to expense proportionate to revenue recognition of the underlying contract. Research and Development Expenses All research and development costs are expensed in the period incurred. Payments for these activities are based on the terms of the individual agreements, which may differ from the pattern of costs incurred, and payments made in advance of performance are reflected in the accompanying balance sheets as prepaid expenses. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Patent Costs Costs related to filing and pursuing patent applications are recorded as general and administrative expense and expensed as incurred since recoverability of such expenditures is uncertain. Stock-Based Compensation Stock-based compensation expense represents the grant date fair value of equity awards, consisting of stock options and employee stock purchase rights, recognized on a straight-line basis over the requisite service period for stock options and over the respective offering period for employee stock purchase plan rights. The Company estimates the fair value of equity awards using the Black-Scholes option pricing model and recognizes forfeitures as they occur. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby (1) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability. Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The only component of other comprehensive loss is unrealized gain (loss) on available-for-sale securities. Comprehensive losses have been reflected in the statements of operations and comprehensive loss and as a separate component in the statements of convertible preferred stock and stockholders’ equity (deficit). Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as one operating segment. No product revenue has been generated since inception and all assets are held in the United States. Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. The Company has excluded weighted-average unvested shares of 182,194 shares and 445,326 shares from the weighted-average number of common shares outstanding for the years ended December 31, 2022 and 2021, respectively. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period determined using the treasury-stock and if-converted methods. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities would be anti-dilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares): December 31, 2022 2021 Common stock options 7,345,444 5,654,663 Unvested common stock 68,406 379,825 Employee stock purchase plan shares 10,423 5,229 Total potentially dilutive shares 7,424,273 6,039,717 Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has irrevocably elected not to avail itself of this exemption from new or revised accounting standards and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Balance Sheet Details

Balance Sheet Details	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Balance Sheet Details	2. Balance Sheet Details Property and equipment, net consist of the following (in thousands): December 31, 2022 2021 Laboratory equipment $ 6,838 $ 1,377 Furniture and fixtures 752 — Computer equipment and software 323 27 Construction in progress 145 139 Total property and equipment 8,058 1,543 Less: accumulated depreciation ( 972 ) ( 131 ) Property and equipment, net $ 7,086 $ 1,412 Accrued liabilities consist of the following (in thousands): December 31, 2022 2021 Accrued compensation $ 2,671 $ 1,171 Accrued research and development 4,716 2,130 Other accrued liabilities 623 478 $ 8,010 $ 3,779

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	3. Commitments and Contingencies License Agreement with WuXi Biologics (Hong Kong) Limited In April 2021, the Company entered into a cell line license agreement (“Cell Line License Agreement”) with WuXi Biologics (Hong Kong) Limited (“WuXi Biologics”), pursuant to which the Company received a non-exclusive, worldwide, sublicensable license under certain of WuXi Biologics’ patent rights, know-how and biological materials (“WuXi Biologics Licensed Technology”), to use the WuXi Biologics Licensed Technology to make, use, sell, offer for sale and import certain therapeutic products produced through the use of the cell line licensed by WuXi Biologics under the Cell Line License Agreement (“WuXi Biologics Licensed Product”). In consideration for the license, the Company paid WuXi Biologics a non-refundable, one-time license fee of $ 0.2 million upon WuXi Biologics’ achievement of a certain technical milestone. This one-time license fee was recognized as research and development expense when incurred since the WuXi Biologics Licensed Technology had no alternative future use. If the Company does not engage WuXi Biologics or its affiliates to manufacture the WuXi Biologics Licensed Products for its commercial supplies, the Company is required to make royalty payments to WuXi Biologics in an amount equal to a low single-digit percentage of specified portions of net sales of WuXi Biologics Licensed Products manufactured by a third-party manufacturer. The Company has the right (but not the obligation) to buy out its remaining royalty obligations with respect to each WuXi Biologics Licensed Product by paying WuXi Biologics a one-time payment in an amount ranging from low single digit million dollars to a maximum of $ 15.0 million depending on the development and commercialization stage of the WuXi Biologics Licensed Product (the “Buyout Option”), and upon such payment, the Company’s license with respect to such WuXi Biologics Licensed Product will become fully paid-up, irrevocable, and perpetual. The royalty obligations will remain in effect during the term of the Cell Line License Agreement so long as the Company has not exercised the Buyout Option. The Cell Line License Agreement will continue indefinitely unless terminated (i) by the Company upon three months’ prior written notice and the Company’s payment of all amounts due to WuXi Biologics through the effective date of termination, (ii) by either party for the other party’s material breach that remains uncured for 30 days after written notice, and (iii) by WuXi Biologics if the Company fails to make a payment and such failure continues for 30 days after receiving notice of such failure. Operating Leases In October 2021, the Company entered into a lease agreement (the "Torrey Plaza Lease") to lease office and laboratory space in San Diego, California. The Company determined this facilities lease was an operating lease at the inception of the lease contract. According to accounting standards, the Torrey Plaza Lease commenced on April 1, 2022 and has a term of 130 months from the commencement date. The lease provides an option to extend the term of the lease for a period of 5 years beyond the initial term, which the Company is not reasonably certain to exercise and therefore was not considered in determining the ROU assets and lease liabilities balance. As required under the terms of the Torrey Plaza Lease, in October 2021 the Company entered into a standby letter of credit, which is secured by a money market account in the amount of $ 0.8 million. The letter of credit is subject to draw down by the landlord upon certain events of breach or default by the Company. The letter of credit amount is subject to a 50 % reduction subject to certain conditions on or following the date that is 54 months following the contractual lease commencement date. Future minimum noncancelable operating lease payments as of December 31, 2022 are as follows (in thousands): 2023 2,761 2024 3,403 2025 3,505 2026 3,611 Thereafter 24,421 Total minimum lease payments 37,701 Less: Imputed interest ( 12,396 ) Total operating lease liabilities 25,305 Less: Current portion of operating lease liabilities ( 763 ) Operating lease liabilities, net of current portion $ 24,542 The Torrey Plaza lease had a remaining lease term of 10.1 years and a discount rate of 8 % as of December 31, 2022. Operating lease expense for year ended December 31, 2022 was $ 2.8 million. Lease incentives received for amounts included in the measurement of lease liabilities for the year ended December 31, 2022 was $ 0.7 million. Cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2022 was $ 0.2 million. Operating lease expense for year ended December 31, 2021 was immaterial. Cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2021 was $ 0.3 million. Contingencies From time to time, the Company may be subject to claims or lawsuits arising in the ordinary course of business. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. As of December 31, 2022, the Company is not currently party to any material legal proceedings.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	4. Related Party Transactions In January 2021, the Company entered into a Support Services Agreement (the "2021 Support Services Agreement") with COI Pharmaceuticals, Inc. (“COI”) that outlines the terms of services provided by COI to the Company, as well as the fees charged for such services. COI is a shared service company that provides certain back-office and administrative and research and development support services, including facilities support, to the portfolio companies of Avalon Ventures, an entity that beneficially owns greater than 5 % of our outstanding capital stock. The 2021 Support Services Agreement was most recently renewed in January 2023 and will continue to renew for additional one-year renewal periods until terminated by the parties. Either party may terminate the 2021 Support Services Agreement with 30 days written notice. Expense recognized by the Company under the 2021 Support Services Agreement for the years ended December 31, 2022 and 2021 was as follows (in thousands): Year Ended December 31, 2022 2021 Research and development $ 537 $ 1,609 General and administrative 91 325 Total $ 628 $ 1,934

Convertible Preferred Stock and

Convertible Preferred Stock and Stockholders’ Equity (Deficit)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Convertible Preferred Stock and Stockholders' Equity (Deficit)	5. Convertible Preferred Stock and Stockholders’ Equity (Deficit) Convertible Preferred Stock In March 2021, the Company entered into a Series A preferred stock purchase agreement with various investors, pursuant to which it issued and sold an aggregate of 5,894,740 shares of its Series A convertible preferred stock at a price per share of $ 9.50 for gross proceeds of $ 56.0 million. In April 2021, the Company entered into a Series B preferred stock purchase agreement with various investors, pursuant to which it issued and sold an aggregate of 8,038,073 shares of its Series B convertible preferred stock at a price per share of $ 15.551 for gross proceeds of $ 125.0 million. Initial Public Offering In June 2021, the Company completed its IPO selling 13,110,000 shares its common stock at $ 17.00 per share. Proceeds from the Company’s IPO, net of underwriting discounts and commissions and other offering costs, were $ 204.2 million. In connection with the Company’s IPO, all outstanding shares of the Company’s convertible preferred stock automatically converted into 26,608,460 shares of the Company's common stock. Registration Statements on Form S-3 In August 2022, the Company filed a shelf registration statement (File No. 333-266720), which became effective upon filing. The shelf registration statement provides us with the ability to offer up to $ 400.0 million of certain securities, including shares of our common stock, from time to time. The specific terms of any offering under the shelf registration statement are established at the time of such offering. Additionally, the Company entered into a sales agreement with Jefferies Group LLC (Jefferies) with respect to an at-the-market offering program, under which the Company may offer and sell, from time to time at its sole discretion, shares of our common stock having an aggregate offering price of up to $ 100.0 million through Jefferies as the sales agent. 2017 Equity Incentive Plan In August 2017, the Company adopted the Janux Therapeutics, Inc. 2017 Equity Incentive Plan (the “2017 Plan”), which provided for the grant of incentive stock options, nonstatutory stock options, restricted stock awards and other stock awards to its employees, members of its board of directors and consultants. The maximum term of options granted under the 2017 Plan is ten years and, in general, the options issued under the 2017 Plan vest over a four-year period from the vesting commencement date. The 2017 Plan allows for the early exercise of stock options, which may be subject to repurchase by the Company at the original exercise price. Upon the effectiveness of the 2021 Plan defined and described below, no further grants will be made under the 2017 Plan. Any outstanding awards granted under the 2017 Plan will remain subject to the terms of the 2017 Plan and applicable award agreements. 2021 Equity Incentive Plan In June 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan,” and together with the 2017 Plan the “Plans”). Under the 2021 Plan, the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock awards, performance cash awards and other forms of stock awards to employees, directors and consultants. The maximum term of options granted under the 2021 Plan is ten years and, in general, the options issued under the 2021 Plan vest over a four-year period from the vesting commencement date. The 2021 Plan does not permit early exercises. A total of 2,775,890 new shares of common stock were initially reserved for issuance under the 2021 Plan. The number of shares reserved that were remaining under the 2017 Plan as of the effective date of the 2021 Plan, or 1,424,110 shares, were added to the shares initially reserved under the 2021 Plan upon its effectiveness and any future cancellations under the 2017 Plan will become available for future issuance under the 2021 Plan. In addition, the number of shares of common stock available for issuance under the 2021 Plan automatically increases on January 1 of each calendar year through January 1, 2031, in an amount equal to 5% of the total number of shares of the Company’s common stock on the last day of the calendar month before the date of each automatic increase, or a lesser number of shares determined by the Company’s board of directors. As of December 31, 2022, there w ere 6,676,843 s hares authorized for issuance under the 2021 Plan, inclusive of shares added from 2017 Plan cancellations. A summary of the Company’s stock option activity under its Plans is as follows (in thousands, except share, per share data and years): Number of Weighted- Weighted- Aggregate Balance at December 31, 2021 5,654,663 $ 9.65 9.22 $ 62,954 Granted 2,252,965 $ 17.24 Exercised ( 7,405 ) $ 0.17 Forfeited or cancelled ( 554,779 ) $ 13.87 Balance at December 31, 2022 7,345,444 $ 11.67 8.31 $ 29,806 Vested and expected to vest at December 31, 2022 7,345,444 $ 11.67 8.31 $ 29,806 Exercisable at December 31, 2022 4,954,426 $ 8.08 7.95 $ 28,629 The weighted-average grant date fair value per share of option grants for the years ended December 31, 2022 and 2021 was $ 12.35 a nd $ 8.01 , respectively. The total intrinsic value of stock options exercised for the years ended December 31, 2022 and 2021 was $ 0.1 milli on and $ 1.0 million, respectively. As of December 31, 2022 , total unrecognized stock-based compensation cost associated with option grants was $ 40.8 million, which is expected to be recognized over a remaining weighted-average period of approximately 2.5 years. The assumptions used in the Black-Scholes option pricing model to determine the fair value of stock option grants under its Plans were as follows: Year Ended December 31, 2022 2021 Risk-free interest rate 1.5 % – 4.2 % 0.8 % – 1.6 % Expected volatility 81 % – 85 % 83 % – 87 % Expected term (in years) 5.3 – 6.1 5.5 – 10.0 Expected dividend yield — — Risk-free interest rate . The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for zero coupon U.S. Treasury notes with maturities similar to the expected term of the awards. Expected volatility . Given the Company’s limited historical stock price volatility data, the expected volatility assumption is based on volatilities of a peer group of similar companies whose share prices are publicly available. The peer group was developed based on companies in the biotechnology industry. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price becomes available. Expected term . The expected term represents the period of time that options are expected to be outstanding. Because the Company does not have historical exercise behavior, it determines the expected life assumption using the simplified method, for employees, which is an average of the contractual term of the option and its vesting period. The expected term for nonemployee options is generally the contractual term. Expected dividend yield . The Company bases the expected dividend yield assumption on the fact that it has never paid cash dividends and has no present intention to pay cash dividends and, therefore, used an expected dividend yield of zero. 2021 Employee Stock Purchase Plan In June 2021, the Company adopted the 2021 Employee Stock Purchase Plan (the “ESPP”), which became effective on June 10, 2021. The ESPP permits eligible employees who elect to participate in an offering under the ESPP to have up to 15 % of their eligible earnings withheld, subject to certain limitations, to purchase shares of common stock pursuant to the ESPP. The price of common stock purchased under the ESPP is equal to 85 % of the lower of the fair market value of the common stock at the commencement date of each offering period or the relevant date of purchase. A total o f 466,000 shares of common stock were approved to be initially reserved for issuance under the ESPP. In addition, the number of shares of common stock available for issuance under the ESPP automatically increases on January 1 of each calendar year through January 1, 2031, in an amount equal to the lesser of (i) 1 % of the total number of shares of the Company’s common stock on the last day of the calendar month before the date of each automatic increase and (ii) 932,000 shares; provided that before the date of any such increase, the Company’s board of directors may determine that such increase will be less than the amount set forth in clauses (i) and (ii). In June 2021, employees began to enroll in the ESPP and the Company’s first offering period commenced. Stock-based compensation expense related to the ESPP was $ 0.6 million and $ 0.2 million for the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022 , total unrecognized stock-based compensation expense related to the ESPP was $ 1.4 million, which is expected to be recognized over a remaining weighted-average period of approximately 1.7 years. Stock-Based Compensation Expense Stock-based compensation expense has been reported in the statements of operations and comprehensive loss as follows (in thousands): Year Ended December 31, 2022 2021 Research and development $ 7,235 $ 3,018 General and administrative 9,968 3,892 Total $ 17,203 $ 6,910 Unvested Stock Liabilities A summary of the Company’s unvested shares and unvested stock liabilities is as follows (in thousands, except share data): Number of Unvested Balance at December 31, 2021 379,825 $ 1,203 Vested shares ( 311,419 ) ( 1,034 ) Balance at December 31, 2022 68,406 $ 169 Common Stock Reserved for Future Issuance Common stock reserved for future issuance consists of the following: December 31, 2022 2021 Common stock options outstanding 7,345,444 5,654,663 Shares available for issuance under the Plans 4,012,001 3,629,039 Shares available for issuance under the ESPP 816,478 454,548 Total 12,173,923 9,738,250

Research Collaboration and Excl

Research Collaboration and Exclusive License Agreement	12 Months Ended
	Dec. 31, 2022
Research Collaboration And Exclusive License Agreement [Abstract]
Research Collaboration and Exclusive License Agreement	6. Research Collaboration and Exclusive License Agreement In December 2020, the Company entered into a research collaboration and exclusive license agreement (the “Merck Agreement”), pursuant to which the Company granted Merck Sharp & Dohme Corp. (“Merck”) an exclusive, worldwide, royalty-bearing, sublicensable license to certain of its patent rights and know-how for up to two collaboration targets (“First Collaboration Target” and “Second Collaboration Target”, together the “Collaboration Targets”) related to next generation T cell engager immunotherapies for the treatment of cancer. In each case, once the Collaboration Targets are designated by Merck, they have the right to research, develop, make, have made, use, import, offer to sell, and sell compounds and any licensed products related thereto. Merck selected the First Collaboration Target upon execution of the Merck Agreement and selected the Second Collaboration Target in May 2022. Following the research term, Merck will have the sole right to research, develop, manufacture, and commercialize the licensed compounds and products directed against the Collaboration Targets. Consideration in the Merck Agreement consists of (i) an $ 8.0 million non-refundable and non-creditable upfront fee, (ii) $ 8.0 million paid upon the selection of the Second Collaboration Target, (iii) research program funding (iv) development and regulatory milestones, (v) commercial milestones, and (vi) royalty payments. Under the Merck Agreement, the Company is eligible to receive up to an aggregate of $ 142.5 million per Collaboration Target in milestone payments ($ 285.0 million collectively for both Collaboration Targets), contingent on the achievement of certain regulatory and development milestones. Merck is also required to make milestone payments to the Company upon the successful completion of certain commercial milestones, in an aggregate amount not to exceed $ 350.0 million for each licensed product under either of the Collaboration Targets. The Merck Agreement provides that Merck is obligated to pay to the Company tiered royalty payments on a product-by-product and country-by-country basis, ranging from low single-digit to low teens percentage royalty rates on specified portions of annual net sales for licensed products under either of the Collaboration Targets that are commercialized. Such royalties are subject to reduction, on a product-by-product and country-by-country basis, for licensed products not covered by patent claims, or that require Merck to obtain a license to obtain a license to third-party intellectual property in order to commercialize the licensed products, or that are subject to compulsory licensing. The Merck Agreement will terminate at the end of the calendar year in which the expiration of all royalty obligations occurs for all licensed products under the agreement. Merck has the unilateral right to terminate the Merck Agreement in its entirety or on a Collaboration Target by Collaboration Target basis at any time and for any reason upon prior written notice to the Company. Both parties have the right to terminate the agreement for an uncured material breach, certain illegal or unethical activities, and insolvency of the other party. Upon expiration of the agreement but not early termination thereof, and provided all payments due under the agreement have been made, Merck’s exclusive licenses under the agreement will become fully paid-up and perpetual. The Company concluded that Merck represented a customer and has accounted for the initial units of account in accordance with FASB’s Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”). As it relates to Merck's option to select a Second Collaboration Target, which was exercised during the year ended December 31, 2022, the Company concluded that this option represented a customer option to purchase additional goods or services that is not a material right and, therefore, is accounted for as a separate contract and separate performance obligation to purchase the additional goods or services. The Company identified its performance obligations under the Merck Agreement and each Collaboration Target as the grant to Merck of an exclusive license to certain of its intellectual property subject to certain conditions, its conduct of research services and the Company’s participation in a joint research committee. The Company determined that these performance obligations should be accounted for as one combined performance obligation for each Collaboration Target since they are not distinct. The Company also determined that the combined performance obligation for each Collaboration Target is transferred over the expected term of the conduct of the research services. In accordance with ASC 606, the Company determined that the transaction price under the Merck Agreement for each the First Collaboration Target and the Second Collaboration Target is $ 11.4 million, consisting of the upfront, non-refundable and non-creditable payment of $ 8.0 million and the aggregate estimated reimbursable research program funding for each the First Collaboration Target and the Second Collaboration Target of $ 3.4 million. The aggregate amount of the transaction price allocated to the performance obligations that were unsatisfied (or partially unsatisfied) as of December 31, 2022 was $ 0.5 million for the First Collaboration Target and $ 10.0 million for the Second Collaboration Target. The Company concluded that there was not a significant financing component under the Merck Agreement. With respect to the remaining variable consideration within the Merck Agreement, including milestone and royalty payments, the Company determined that as of December 31, 2022 these payments were probable of significant revenue reversal as their achievement is highly dependent on factors outside the Company’s control. Therefore, this aggregate consideration has been fully constrained and is therefore not included in the transaction price. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achievement of each milestone and any related constraint, and if necessary, adjust its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect the reported amount of revenues in the period of adjustment. Consideration received for each Collaboration Target is recorded as deferred revenue and recognized as revenue over time in conjunction with the Company’s conduct of research services as the research services are the primary component of the combined performance obligations for each Collaboration Target. Revenue associated with the upfront payment and research program funding for each Collaboration Target is recognized based on actual total full-time equivalent employees (“FTEs”) utilized as a percentage of total FTEs expected to be utilized over the expected term of conduct of the research services performed for each respective Collaboration Target. The Company estimates the remaining term of these research services, over which revenue will be recognized, t o be 0.3 years for the First Collaboration Target and 1.7 years for th e Second Collaboration Target as of December 31, 2022. The Company recognized $ 8.6 million and $ 3.6 million of revenue under the Merck Agreement for the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022 , aggregate deferred revenue related to the Merck Agreement was $ 7.6 million, $ 5.4 million of which was classified as current. The Company had no accounts receivable outstanding as of December 31, 2022 or 2021. The remaining performance obligations under the Merck Agreement for each Collaboration Target relate to the Company’s conduct of research services and the Company’s participation in a joint research committee.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The Company has no t recorded a current or deferred tax expense or benefit for the years ended December 31, 2022 or 2021. The net losses for the years ended December 31, 2022 and 2021 were generated solely in the United States. A reconciliation of the Company’s income tax expense (benefit) to the amount computed by applying the federal statutory income tax rate is summarized as follows (in thousands): Year Ended December 31, 2022 2021 Expected tax benefit computed at federal statutory rate $ ( 13,242 ) $ ( 6,861 ) State income taxes, net of federal tax benefit ( 3,754 ) ( 2,169 ) Permanent differences 1,899 324 Research and development credits ( 2,930 ) ( 745 ) Reserve for uncertain tax positions 715 253 Other 80 328 Change in valuation allowance 17,232 8,870 Income tax expense (benefit) $ — $ — Significant components of the Company’s net deferred tax assets (liabilities) are summarized as follows (in thousands): December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 16,261 $ 11,134 Research and development credit carryforwards 3,377 1,179 Stock-based compensation 3,453 1,273 Lease liability 7,081 Capitalized research and development 8,310 54 Other 430 77 Total deferred tax assets 38,912 13,717 Valuation allowance ( 30,976 ) ( 13,390 ) Net deferred tax assets 7,936 327 Deferred tax liabilities: Property and equipment ( 1,519 ) ( 106 ) ROU asset ( 6,235 ) Other ( 182 ) ( 221 ) Total gross deferred tax liabilities ( 7,936 ) ( 327 ) Net deferred tax assets $ — $ — Deferred income tax assets and liabilities are recorded for differences between the financial statement and tax basis of the assets and liabilities that will result in taxable or deductible amounts in the future based on enacted laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company has evaluated the available evidence supporting the realization of its gross deferred tax assets, including the amount and timing of future taxable income, and has determined it is more likely than not that the assets will not be realized. Due to uncertainties surrounding the realizability of the deferred tax assets, the Company maintains a full valuation allowance against its deferred tax assets at December 31, 2022 and 2021. At December 31, 2022 , the Company had federal and state net operating loss ("NOL") carryforwards of $ 50.0 million and $ 82.0 million, respectively. Federal NOL carryforwards totaling $ 0.5 million begin to expire in 2037 , unless previously utilized, and federal NOL carryforwards of $ 49.5 million generated after 2017, may be carried forward indefinitely but can only be utilized to offset 80 % of future taxable income. State NOL carryforwards totaling $ 82.0 million begin to expire in 2037 , unless previously utilized. In addition, the Company also has federal and state research and development ("R&D") credit carryforwards totaling $ 3.1 million and $ 1.9 million respectively. The federal R&D credit carryforwards will begin to expire in 2037 unless previously utilized. The state R&D credit carryforwards do not expire. Utilization of the Company's NOL and R&D credit carryforwards may be subject to substantial annual limitations in the event a cumulative ownership change has occurred, or that could occur in the future, as required by Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"). In general, an "ownership change," as defined by Section 382 of the Code, results from a transaction, or series of transactions over a three-year period, resulting in an ownership change of more than 50% of the outstanding stock of a company by certain stockholders or public groups. Such an ownership change may limit the amount of NOL and R&D credit carryforwards that can be utilized annually to offset future taxable income and tax, respectively. The Company has not completed such an ownership change analysis pursuant to Section 382 of the Code. If ownership changes have occurred or occur in the future, the amount of remaining tax attribute carryforwards available to offset taxable income and income tax expense in future years may be restricted or eliminated. If eliminated, the related asset would be removed from deferred tax assets with a corresponding reduction in the valuation allowance. Due to the existence of the valuation allowance, limitations created by future ownership changes, if any, will not impact the Company's effective tax rate. The Company recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination by tax authorities. Further, due to the existence of the valuation allowance, future changes in the Company's unrecognized tax benefits will not impact the effective tax rate. The following table summarizes the changes to the Company’s gross unrecognized tax benefits for the years ended December 31, 2022 and 2021 (in thousands): Year Ended December 31, 2022 2021 Balance at beginning of year $ 510 $ 234 Decreases related to prior year tax positions — ( 50 ) Increases related to current year tax positions 763 326 Balance at end of year $ 1,273 $ 510 The Company had no accrual for interest or penalties on the Company's balance sheets at December 31, 2022 or 2021, and has not recognized interest and/or penalties in the statement of operations and comprehensive loss for the years ended December 31, 2022 and 2021. As of December 31, 2022 and 2021, the Company had unrecognized tax benefits of $ 1.3 million an d $ 0.5 mil lion, respectively, which if recognized currently, should not impact the effective tax rate due to the Company maintaining a full valuation allowance. The Company does not expect that there will be a significant change in the unrecognized tax benefit over the next twelve months. The Company is subject to taxation in the United States and various state jurisdictions. All of the Company's tax years are subject to examination by federal and state tax authorities due to the carryforward of unutilized net operating losses and research and development credits. Further, the Company is not currently under examination by any federal, state or local tax authority.

401 (k) Plan

401 (k) Plan	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
401 (k) Plan	8. 401(k) Plan Effective April 2021, the Company adopted a defined contribution retirement savings plan under Section 401(k) of the Internal Revenue Code available to eligible employees. Employee contributions are voluntary and determined on an individual basis, limited to the maximum amount allowable under federal tax regulations. Under the plan, the Company makes a mandatory annual contribution of up to 3 % of eligible employees’ compensation. Employer contributions for the years ended December 31, 2022 and 2021 were immaterial.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Janux Therapeutics, Inc. (the “Company”) was incorporated in the State of Delaware in June 2017 and is based in San Diego, California. The Company is a clinical stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager ("TRACTr") and Tumor Activated Immunomodulator ("TRACIr") platforms to better treat patients suffering from cancer.
Forward Stock Split	Forward Stock Split In June 2021, the Company’s board of directors and stockholders approved an amendment to the Company’s certificate of incorporation to effect a forward split of shares of the Company’s common stock on a one-for- 1.281 basis, which was effected on June 4, 2021 (the “Forward Stock Split”). The number of authorized shares and the par values of the common stock and convertible preferred stock were not adjusted as a result of the Forward Stock Split. Accordingly, the outstanding shares of common stock as of December 31, 2020 presented in the accompanying Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) give retroactive effect to the Forward Stock Split.
Liquidity and Capital Resources	Liquidity and Capital Resources From its inception through December 31, 2022, the Company has devoted substantially all its efforts to organizing and staffing, business planning, raising capital and developing its TRACTr and TRACIr therapeutic platforms and clinical and preclinical assets. The Company has incurred net losses and negative cash flows from operations since inception and had an accumulated deficit of $ 110.5 million as of December 31, 2022. The Company has a limited operating history, has not generated any product revenue, and the sales and income potential of its business is unproven. To date the Company has funded its operations primarily with the net proceeds from the issuance of convertible promissory notes, the issuance of convertible preferred stock, the issuance of common stock in its initial public offering (“IPO”), the exercise of common stock options and amounts received under a collaboration agreement. The Company expects to incur substantial operating losses for the next several years and will need to obtain additional financing in order to continue its research and development activities, initiate and complete clinical trials and launch and commercialize any product candidates for which it receives regulatory approval. The Company plans to continue to fund its losses from operations and capital funding needs through public or private equity or debt financings or other sources. The COVID-19 pandemic continues to evolve and has resulted in a significant disruption of global capital markets. The impact of the COVID-19 pandemic on capital markets may affect the availability, amount and type of financing available to the Company in the future. If the Company is not able to secure adequate additional funding, the Company may be forced to make reductions in spending, extend payment terms with suppliers, liquidate assets where possible, or suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, results of operations and future prospects. There can be no assurance that such financing will be available or will be at terms acceptable to the Company. The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty. Management is required to perform an analysis over its ability to continue as a going concern. Management must first evaluate whether there are conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern (step 1). If management concludes that substantial doubt is raised, management is also required to consider whether its plans alleviate that doubt (step 2). Management’s assessment included the preparation of cash flow forecasts resulting in management’s conclusion that the Company has sufficient capital to fund operations for at least 12 months from the date the financial statements for the year ended December 31, 2022 are issued.
Use of Estimates	Use of Estimates The Company’s financial statements are prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The preparation of the Company’s financial statements requires it to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s financial statements and accompanying notes. The most significant estimates in the Company’s financial statements relate to estimates to complete the performance obligations and the estimated transaction price for collaboration revenue, accruals for research and development expenses, stock-based compensation and fair value measurements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenues and expenses that are not readily apparent from other sources. Although the impact of the COVID-19 pandemic to the Company’s business and operating results presents additional uncertainty, the Company continues to use the best information available to update its accounting estimates. Actual results may differ materially and adversely from these estimates.
Fair Value Measurement	Fair Value Measurements The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, prepaid and other current assets, accounts payable, and accrued liabilities, approximate fair value due to the short-term nature of those instruments. The fair value of assets classified within Level 1 is based on quoted prices in active markets as provided by the Company’s investment managers. The fair value of short-term investments classified within Level 2 is based on standard observable inputs, including reported trades, broker/dealer quotes, and bids and/or offers. The Company validates the quoted market prices provided by its investment managers by comparing the investment managers’ assessment of the fair values of the Company’s investment portfolio balance against the fair values of the Company’s investment portfolio balance obtained from an independent source. The Company has no financial liabilities recorded at fair value on a recurring basis. None of the Company’s non-financial assets or liabilities are recorded at fair value on a non-recurring basis. No transfers between levels have occurred during the periods presented. The following tables summarize the Company’s financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Total Quoted Prices in Significant Other Significant As of December 31, 2022: Assets: Cash equivalents: Money market funds $ 12,697 $ 12,697 $ — $ — Total cash equivalents 12,697 12,697 — — Short-term investments: U.S. Treasury securities 63,016 63,016 — — U.S. agency bonds 67,020 — 67,020 — U.S. agency discount notes 4,334 — 4,334 — Corporate debt securities 1,970 — 1,970 — Commercial paper 139,250 — 139,250 — Total short-term investments 275,590 63,016 212,574 — Restricted cash: Money market account 816 816 — — Total restricted cash 816 816 — — Total assets measured at fair value on a recurring basis $ 289,103 $ 76,529 $ 212,574 $ — Fair Value Measurements at Total Quoted Prices in Significant Other Significant As of December 31, 2021: Assets: Cash equivalents: Money market funds $ 15,020 $ 15,020 $ — $ — Commercial paper 9,998 — 9,998 — Total cash equivalents 25,018 15,020 9,998 — Short-term investments: U.S. Treasury securities 99,247 99,247 — — Corporate debt securities 6,026 — 6,026 — Commercial paper 234,110 — 234,110 — Total short-term investments 339,383 99,247 240,136 — Restricted cash: Money market account 816 816 — — Total restricted cash 816 816 — — Total assets measured at fair value on a recurring basis $ 365,217 $ 115,083 $ 250,134 $ —
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents include cash in readily available checking accounts, commercial paper and money market funds.
Restricted Cash	Restricted Cash Restricted cash consists of a money market account securing a standby letter of credit issued in connection with the Company’s Torrey Plaza operating lease (as defined and described in Note 3). The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheets that sum to the amounts shown in the statements of cash flows (in thousands): December 31, 2022 2021 Cash and cash equivalents $ 51,426 $ 35,582 Restricted cash 816 816 Total cash and cash equivalents and restricted cash $ 52,242 $ 36,398
Short-Term Investments	Short-Term Investments Short-term investments consist of U.S. treasury securities, U.S. agency bonds, U.S. agency discount notes, corporate debt securities and commercial paper. The Company has classified these investments as available-for-sale, as the sale of such investments may be required prior to maturity to implement management strategies, and therefore has classified all investment securities as current assets. Those investments with maturity dates of three months or less at the date of purchase are presented as cash equivalents in the accompanying balance sheets. Short-term investments are carried at fair value with the unrealized gains and losses included in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit) until realized. Any premium or discount arising at purchase is amortized or accreted to interest income as an adjustment to yield using the straight-line method over the life of the instrument. The Company records an allowance for credit losses when unrealized losses are due to credit-related factors. Realized gains and losses are calculated using the specific identification method and recorded as interest income. The following tables summarize short-term investments (in thousands): As of December 31, 2022 Amortized Unrealized Estimated Cost Gains Losses Fair Value U.S. Treasury securities $ 63,675 $ — $ ( 659 ) $ 63,016 U.S. agency bonds 67,421 — ( 401 ) 67,020 U.S. agency discount notes 4,321 13 — 4,334 Corporate debt securities 1,975 — ( 5 ) 1,970 Commercial paper 139,733 26 ( 509 ) 139,250 Total $ 277,125 $ 39 $ ( 1,574 ) $ 275,590 As of December 31, 2021 Amortized Unrealized Estimated Cost Gains Losses Fair Value U.S. Treasury securities $ 99,457 $ — $ ( 210 ) $ 99,247 Corporate debt securities 6,029 — ( 3 ) 6,026 Commercial paper 234,167 7 ( 64 ) 234,110 Total $ 339,653 $ 7 $ ( 277 ) $ 339,383 The amortized cost and estimated fair value in the tables above exclude $ 0.7 million and $ 0.2 million o f accrued interest receivable as of December 31, 2022 and 2021, respectively. Accrued interest receivable is included in prepaid expenses and other current assets in the accompanying balance sheets. Contractual maturities of available-for-sale debt securities are as follows (in thousands): As of December 31, 2022 Due in 1 Year or Less Due Between 1 and 2 Years U.S. Treasury securities $ 57,369 $ 5,647 U.S. agency bonds 37,202 29,818 U.S. agency discount notes 4,334 — Corporate debt securities — 1,970 Commercial paper 139,250 — Total $ 238,155 $ 37,435 As of December 31, 2021 Due in 1 Year or Less Due Between 1 and 2 Years U.S. Treasury securities $ 51,131 $ 48,116 Corporate debt securities 6,026 — Commercial paper 234,110 — Total $ 291,267 $ 48,116 As of December 31, 2022 , 41 out of 47 of ou r available-for-sale debt securities were in an aggregate gross unrealized loss position. The Company considers the decline in market value for the securities to be primarily attributable to current economic conditions and interest rate adjustments, rather than credit-related factors. No allowance for credit losses has been recorded as of December 31, 2022 or December 31, 2021. Additionally, no realized gains or losses on sales of short-term investments were recorded for the years ended December 31, 2022 or December 31, 2021. The following table summarizes our available-for-sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded at December 31, 2022, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands): Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized U.S. Treasury securities $ 15,566 $ ( 82 ) $ 47,450 $ ( 577 ) $ 63,016 $ ( 659 ) U.S. agency bonds 67,020 ( 401 ) — — 67,020 ( 401 ) Corporate debt securities 1,970 ( 5 ) — — 1,970 ( 5 ) Commercial paper 118,840 ( 509 ) — — 118,840 ( 509 ) Total $ 203,396 $ ( 997 ) $ 47,450 $ ( 577 ) $ 250,846 $ ( 1,574 ) There were no a vailable-for-sale debt securities in a continuous unrealized loss position for 12 months or longer at December 31, 2021.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in a federally insured financial institution in excess of federally insured limits. The Company has not experienced any losses in such account and management believes that the Company is not exposed to significant credit risk. The Company is also subject to credit risk from its accounts receivable. The Company generally does not perform evaluations of customers’ financial condition and generally does not require collateral. For the year ended December 31, 2022 , all of the Company’s revenue related to a single customer.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consists of laboratory equipment, computer equipment and software, and construction in progress. Property and equipment is stated at cost and depreciated over the estimated useful lives of the assets (generally five years ) using the straight-line method. Repairs and maintenance costs are charged to expense as incurred.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets consist of property and equipment. An impairment loss is recorded if and when events and circumstances indicate that assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The Company has no t recognized any impairment losses through December 31, 2022 .
Deferred Revenue	Deferred Revenue When the Company is entitled to bill its customers and receive payment from its customers in advance of its obligation to provide services or transfer goods to its customers, the Company includes the amounts in deferred revenue on its balance sheets. For further discussion, refer to the Company’s revenue recognition policy below.
Leases	Leases The Company determines if a contract contains a lease at the inception of the contract and evaluates each lease agreement to determine whether the lease is an operating or finance lease. For leases where the Company is the lessee, right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Liabilities from operating leases are included in current portion of operating lease liabilities, and operating lease liabilities, net of current portion on the accompanying balance sheets. The Company does not have any financing leases. Short-term leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company does not have material short-term lease costs. Lease liabilities are measured at the present value of the lease payments not yet paid discounted using the discount rate for the lease established at the lease commencement date. To determine the present value, the implicit rate is used when readily determinable. For those leases where the implicit rate is not provided, the Company determines an incremental borrowing rate (“IBR”) based on the information available at the lease commencement date in determining the present value of lease payments. The IBR is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. ROU assets are measured as the present value of the lease payments and also include any prepaid lease payments made and any other indirect costs incurred, and exclude any lease incentives received. Lease terms may include the impact of options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company’s operating leases are subject to additional variable charges, including common area maintenance, property taxes, property insurance and other variable costs. Given the variable nature of such costs, they are recognized as expense as incurred. The Company has elected the practical expedient to account for the lease and non-lease components, such as common area maintenance charges, as a single lease component for the Company's facilities leases. The Company has elected to recognize lease incentives, such as tenant improvement allowances, at the lease commencement date as a reduction to the ROU asset and lease liabilities balance until paid to it by the lessor to the extent that the lease provides a specified fixed or maximum level of reimbursement and the Company is reasonably certain to incur reimbursable costs at least equaling such amounts.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in a manner that depicts the transfer of control of a product or a service to a customer and reflects the amount of the consideration the Company is entitled to receive in exchange for such product or service. In doing so, the Company follows a five-step approach: (i) identify the contract 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, and (v) recognize revenue when (or as) the customer obtains control of the product or service. The Company considers the terms of a contract and all relevant facts and circumstances when applying the revenue recognition standard. A customer is a party that has entered into a contract with the Company, where the purpose of the contract is to obtain a product or a service that is an output of the Company’s ordinary activities in exchange for consideration. To be considered a contract, (i) the contract must be approved (in writing, orally, or in accordance with other customary business practices), (ii) each party’s rights regarding the product or the service to be transferred can be identified, (iii) the payment terms for the product or the service to be transferred can be identified, (iv) the contract must have commercial substance (that is, the risk, timing or amount of future cash flows is expected to change as a result of the contract), and (v) it is probable that the Company will collect substantially all of the consideration to which it is entitled to receive in exchange for the transfer of the product or the service. A performance obligation is defined as a promise to transfer a product or a service to a customer. The Company identifies each promise to transfer a product or a service (or a bundle of products or services, or a series of products and services that are substantially the same and have the same pattern of transfer) that is distinct. A product or a service is distinct if both (i) the customer can benefit from the product or the service either on its own or together with other resources that are readily available to the customer and (ii) the Company’s promise to transfer the product or the service to the customer is separately identifiable from other promises in the contract. Each distinct promise to transfer a product or a service is a unit of accounting for revenue recognition. If a promise to transfer a product or a service is not separately identifiable from other promises in the contract, such promises should be combined into a single performance obligation. The transaction price is the amount of consideration the Company is entitled to receive in exchange for the transfer of control of a product or a service to a customer. To determine the transaction price, the Company considers the existence of any significant financing component, the effects of any variable elements, noncash considerations and consideration payable to the customer. If a significant financing component exists, the transaction price is adjusted for the time value of money. If an element of variability exists, the Company must estimate the consideration it expects to receive and uses that amount as the basis for recognizing revenue as the product or the service is transferred to the customer. There are two methods for determining the amount of variable consideration: (i) the expected value method, which is the sum of probability-weighted amounts in a range of possible consideration amounts, and (ii) the mostly likely amount method, which identifies the single most likely amount in a range of possible consideration amounts. If a contract has multiple performance obligations, the Company allocates the transaction price to each distinct performance obligation in an amount that reflects the consideration the Company is entitled to receive in exchange for satisfying each distinct performance obligation. For each distinct performance obligation, revenue is recognized when (or as) the Company transfers control of the product or the service applicable to such performance obligation. In those instances where the Company first receives consideration in advance of satisfying its performance obligation, the Company classifies such consideration as deferred revenue until (or as) the Company satisfies such performance obligation. In those instances where the Company first satisfies its performance obligation prior to its receipt of consideration, the consideration is recorded as accounts receivable. The Company expenses incremental costs of obtaining and fulfilling a contract as and when incurred if the expected amortization period of the asset that would be recognized is one year or less, or if the amount of the asset is immaterial. Otherwise, such costs are capitalized as contract assets if they are incremental to the contract and amortized to expense proportionate to revenue recognition of the underlying contract.
Research and Development Expenses	Research and Development Expenses All research and development costs are expensed in the period incurred. Payments for these activities are based on the terms of the individual agreements, which may differ from the pattern of costs incurred, and payments made in advance of performance are reflected in the accompanying balance sheets as prepaid expenses. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates.
Patent Costs	Patent Costs Costs related to filing and pursuing patent applications are recorded as general and administrative expense and expensed as incurred since recoverability of such expenditures is uncertain.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense represents the grant date fair value of equity awards, consisting of stock options and employee stock purchase rights, recognized on a straight-line basis over the requisite service period for stock options and over the respective offering period for employee stock purchase plan rights. The Company estimates the fair value of equity awards using the Black-Scholes option pricing model and recognizes forfeitures as they occur.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby (1) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The only component of other comprehensive loss is unrealized gain (loss) on available-for-sale securities. Comprehensive losses have been reflected in the statements of operations and comprehensive loss and as a separate component in the statements of convertible preferred stock and stockholders’ equity (deficit).
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as one operating segment. No product revenue has been generated since inception and all assets are held in the United States.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. The Company has excluded weighted-average unvested shares of 182,194 shares and 445,326 shares from the weighted-average number of common shares outstanding for the years ended December 31, 2022 and 2021, respectively. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period determined using the treasury-stock and if-converted methods. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities would be anti-dilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares): December 31, 2022 2021 Common stock options 7,345,444 5,654,663 Unvested common stock 68,406 379,825 Employee stock purchase plan shares 10,423 5,229 Total potentially dilutive shares 7,424,273 6,039,717
Emerging Growth Company Status	Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has irrevocably elected not to avail itself of this exemption from new or revised accounting standards and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables summarize the Company’s financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Total Quoted Prices in Significant Other Significant As of December 31, 2022: Assets: Cash equivalents: Money market funds $ 12,697 $ 12,697 $ — $ — Total cash equivalents 12,697 12,697 — — Short-term investments: U.S. Treasury securities 63,016 63,016 — — U.S. agency bonds 67,020 — 67,020 — U.S. agency discount notes 4,334 — 4,334 — Corporate debt securities 1,970 — 1,970 — Commercial paper 139,250 — 139,250 — Total short-term investments 275,590 63,016 212,574 — Restricted cash: Money market account 816 816 — — Total restricted cash 816 816 — — Total assets measured at fair value on a recurring basis $ 289,103 $ 76,529 $ 212,574 $ — Fair Value Measurements at Total Quoted Prices in Significant Other Significant As of December 31, 2021: Assets: Cash equivalents: Money market funds $ 15,020 $ 15,020 $ — $ — Commercial paper 9,998 — 9,998 — Total cash equivalents 25,018 15,020 9,998 — Short-term investments: U.S. Treasury securities 99,247 99,247 — — Corporate debt securities 6,026 — 6,026 — Commercial paper 234,110 — 234,110 — Total short-term investments 339,383 99,247 240,136 — Restricted cash: Money market account 816 816 — — Total restricted cash 816 816 — — Total assets measured at fair value on a recurring basis $ 365,217 $ 115,083 $ 250,134 $ —
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheets that sum to the amounts shown in the statements of cash flows (in thousands): December 31, 2022 2021 Cash and cash equivalents $ 51,426 $ 35,582 Restricted cash 816 816 Total cash and cash equivalents and restricted cash $ 52,242 $ 36,398
Summary of Short-Term Investments	The following tables summarize short-term investments (in thousands): As of December 31, 2022 Amortized Unrealized Estimated Cost Gains Losses Fair Value U.S. Treasury securities $ 63,675 $ — $ ( 659 ) $ 63,016 U.S. agency bonds 67,421 — ( 401 ) 67,020 U.S. agency discount notes 4,321 13 — 4,334 Corporate debt securities 1,975 — ( 5 ) 1,970 Commercial paper 139,733 26 ( 509 ) 139,250 Total $ 277,125 $ 39 $ ( 1,574 ) $ 275,590 As of December 31, 2021 Amortized Unrealized Estimated Cost Gains Losses Fair Value U.S. Treasury securities $ 99,457 $ — $ ( 210 ) $ 99,247 Corporate debt securities 6,029 — ( 3 ) 6,026 Commercial paper 234,167 7 ( 64 ) 234,110 Total $ 339,653 $ 7 $ ( 277 ) $ 339,383 The amortized cost and estimated fair value in the tables above exclude $ 0.7 million and $ 0.2 million o f accrued interest receivable as of December 31, 2022 and 2021, respectively. Accrued interest receivable is included in prepaid expenses and other current assets in the accompanying balance sheets.
Schedule of Contractual Maturities of Available-for-sale Debt Securities	Contractual maturities of available-for-sale debt securities are as follows (in thousands): As of December 31, 2022 Due in 1 Year or Less Due Between 1 and 2 Years U.S. Treasury securities $ 57,369 $ 5,647 U.S. agency bonds 37,202 29,818 U.S. agency discount notes 4,334 — Corporate debt securities — 1,970 Commercial paper 139,250 — Total $ 238,155 $ 37,435 As of December 31, 2021 Due in 1 Year or Less Due Between 1 and 2 Years U.S. Treasury securities $ 51,131 $ 48,116 Corporate debt securities 6,026 — Commercial paper 234,110 — Total $ 291,267 $ 48,116
Schedule of Available-for-Sale Debt Securities in an Unrealized Loss Position	The following table summarizes our available-for-sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded at December 31, 2022, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands): Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized U.S. Treasury securities $ 15,566 $ ( 82 ) $ 47,450 $ ( 577 ) $ 63,016 $ ( 659 ) U.S. agency bonds 67,020 ( 401 ) — — 67,020 ( 401 ) Corporate debt securities 1,970 ( 5 ) — — 1,970 ( 5 ) Commercial paper 118,840 ( 509 ) — — 118,840 ( 509 ) Total $ 203,396 $ ( 997 ) $ 47,450 $ ( 577 ) $ 250,846 $ ( 1,574 )
Summary of Potentially Dilutive Shares Not Included in the Calculation of Net Loss Per Share	Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares): December 31, 2022 2021 Common stock options 7,345,444 5,654,663 Unvested common stock 68,406 379,825 Employee stock purchase plan shares 10,423 5,229 Total potentially dilutive shares 7,424,273 6,039,717

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consist of the following (in thousands): December 31, 2022 2021 Laboratory equipment $ 6,838 $ 1,377 Furniture and fixtures 752 — Computer equipment and software 323 27 Construction in progress 145 139 Total property and equipment 8,058 1,543 Less: accumulated depreciation ( 972 ) ( 131 ) Property and equipment, net $ 7,086 $ 1,412
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): December 31, 2022 2021 Accrued compensation $ 2,671 $ 1,171 Accrued research and development 4,716 2,130 Other accrued liabilities 623 478 $ 8,010 $ 3,779

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Noncancelable Operating Lease Payments	Future minimum noncancelable operating lease payments as of December 31, 2022 are as follows (in thousands): 2023 2,761 2024 3,403 2025 3,505 2026 3,611 Thereafter 24,421 Total minimum lease payments 37,701 Less: Imputed interest ( 12,396 ) Total operating lease liabilities 25,305 Less: Current portion of operating lease liabilities ( 763 ) Operating lease liabilities, net of current portion $ 24,542

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Summary of Expense Recognized under 2021 Support Services Agreement	Expense recognized by the Company under the 2021 Support Services Agreement for the years ended December 31, 2022 and 2021 was as follows (in thousands): Year Ended December 31, 2022 2021 Research and development $ 537 $ 1,609 General and administrative 91 325 Total $ 628 $ 1,934

Convertible Preferred Stock a_2

Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Summary of Stock Option Activity	A summary of the Company’s stock option activity under its Plans is as follows (in thousands, except share, per share data and years): Number of Weighted- Weighted- Aggregate Balance at December 31, 2021 5,654,663 $ 9.65 9.22 $ 62,954 Granted 2,252,965 $ 17.24 Exercised ( 7,405 ) $ 0.17 Forfeited or cancelled ( 554,779 ) $ 13.87 Balance at December 31, 2022 7,345,444 $ 11.67 8.31 $ 29,806 Vested and expected to vest at December 31, 2022 7,345,444 $ 11.67 8.31 $ 29,806 Exercisable at December 31, 2022 4,954,426 $ 8.08 7.95 $ 28,629
Summary of Fair Value of Stock Option Grants	The assumptions used in the Black-Scholes option pricing model to determine the fair value of stock option grants under its Plans were as follows: Year Ended December 31, 2022 2021 Risk-free interest rate 1.5 % – 4.2 % 0.8 % – 1.6 % Expected volatility 81 % – 85 % 83 % – 87 % Expected term (in years) 5.3 – 6.1 5.5 – 10.0 Expected dividend yield — —
Summary of Stock-Based Compensation Expense	Stock-based compensation expense has been reported in the statements of operations and comprehensive loss as follows (in thousands): Year Ended December 31, 2022 2021 Research and development $ 7,235 $ 3,018 General and administrative 9,968 3,892 Total $ 17,203 $ 6,910
Summary of Unvested Shares and Unvested Stock Liabilities	A summary of the Company’s unvested shares and unvested stock liabilities is as follows (in thousands, except share data): Number of Unvested Balance at December 31, 2021 379,825 $ 1,203 Vested shares ( 311,419 ) ( 1,034 ) Balance at December 31, 2022 68,406 $ 169
Summary of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consists of the following: December 31, 2022 2021 Common stock options outstanding 7,345,444 5,654,663 Shares available for issuance under the Plans 4,012,001 3,629,039 Shares available for issuance under the ESPP 816,478 454,548 Total 12,173,923 9,738,250

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Income Tax Expense (Benefit)	A reconciliation of the Company’s income tax expense (benefit) to the amount computed by applying the federal statutory income tax rate is summarized as follows (in thousands): Year Ended December 31, 2022 2021 Expected tax benefit computed at federal statutory rate $ ( 13,242 ) $ ( 6,861 ) State income taxes, net of federal tax benefit ( 3,754 ) ( 2,169 ) Permanent differences 1,899 324 Research and development credits ( 2,930 ) ( 745 ) Reserve for uncertain tax positions 715 253 Other 80 328 Change in valuation allowance 17,232 8,870 Income tax expense (benefit) $ — $ —
Schedule of Components of Net Deferred Tax Assets (Liabilities)	Significant components of the Company’s net deferred tax assets (liabilities) are summarized as follows (in thousands): December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 16,261 $ 11,134 Research and development credit carryforwards 3,377 1,179 Stock-based compensation 3,453 1,273 Lease liability 7,081 Capitalized research and development 8,310 54 Other 430 77 Total deferred tax assets 38,912 13,717 Valuation allowance ( 30,976 ) ( 13,390 ) Net deferred tax assets 7,936 327 Deferred tax liabilities: Property and equipment ( 1,519 ) ( 106 ) ROU asset ( 6,235 ) Other ( 182 ) ( 221 ) Total gross deferred tax liabilities ( 7,936 ) ( 327 ) Net deferred tax assets $ — $ —
Summary of Changes to GrossUnrecognized Tax Benefits	The following table summarizes the changes to the Company’s gross unrecognized tax benefits for the years ended December 31, 2022 and 2021 (in thousands): Year Ended December 31, 2022 2021 Balance at beginning of year $ 510 $ 234 Decreases related to prior year tax positions — ( 50 ) Increases related to current year tax positions 763 326 Balance at end of year $ 1,273 $ 510

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Security Segment shares	Dec. 31, 2021 USD ($) shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stockholders' equity note, stock split	Company’s certificate of incorporation to effect a forward split of shares of the Company’s common stock on a one-for-1.281 basis, which was effected on June 4, 2021 (the “Forward Stock Split”). The number of authorized shares and the par values of the common stock and convertible preferred stock were not adjusted as a result of the Forward Stock Split. Accordingly, the outstanding shares of common stock as of December 31, 2020 presented in the accompanying Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) give retroactive effect to the Forward Stock Split.
Stock split, conversion ratio	1.281
Accumulated deficit	$ (110,470,000)	$ (47,411,000)
Accrued interest receivable	700,000	200,000
Realized gains or losses on sales of short-term investments	0	0
Allowance for credit losses	0	0
Short-term investments	$ 275,590,000	$ 339,383,000
Weighted average number of shares outstanding, basic | shares	41,469,631	23,530,252
Weighted-average unvested shares | shares	182,194	445,326
Accounts receivable	$ 0	$ 0
Property and equipment estimated useful life	5 years
Impairment losses	$ 0
Number of operating segments | Segment	1
Product revenue	$ 8,612,000	3,637,000
Available-for-sale debt securities number of position gross unrealized loss | Security	41
Available-for-sale debt securities, fair market value	$ 250,846,000
Available-for-sale debt securities in a continuous unrealized loss position for 12 months or longer	$ 577,000	$ 0
Number of available-for-sale debt securities | Security	47
Product Revenue | United States
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Product revenue	$ 0

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	$ 12,697	$ 25,018
Total short-term investments	275,590	339,383
Total restricted cash	816	816
Total assets measured at fair value on a recurring basis	289,103	365,217
U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	63,016	99,247
U.S. Agency Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	67,020
U.S. Agency Discount Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	4,334
Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	1,970	6,026
Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	139,250	234,110
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	12,697	15,020
Total restricted cash	816	816
Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents		9,998
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	12,697	15,020
Total short-term investments	63,016	99,247
Total restricted cash	816	816
Total assets measured at fair value on a recurring basis	76,529	115,083
Level 1 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	63,016	99,247
Level 1 | U.S. Agency Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0
Level 1 | U.S. Agency Discount Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0
Level 1 | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 1 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 1 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	12,697	15,020
Total restricted cash	816	816
Level 1 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents		0
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	0	9,998
Total short-term investments	212,574	240,136
Total restricted cash	0	0
Total assets measured at fair value on a recurring basis	212,574	250,134
Level 2 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 2 | U.S. Agency Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	67,020
Level 2 | U.S. Agency Discount Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	4,334
Level 2 | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	1,970	6,026
Level 2 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	139,250	234,110
Level 2 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total restricted cash	0	0
Level 2 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents		9,998
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total short-term investments	0	0
Total restricted cash	0	0
Total assets measured at fair value on a recurring basis	0	0
Level 3 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 3 | U.S. Agency Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0
Level 3 | U.S. Agency Discount Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0
Level 3 | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 3 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 3 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total restricted cash	$ 0	0
Level 3 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents		$ 0

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies - Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 51,426	$ 35,582
Restricted cash	816	816
Total cash and cash equivalents and restricted cash	$ 52,242	$ 36,398	$ 7,813

Organization and Summary of S_7

Organization and Summary of Significant Accounting Policies - Summary of Short-Term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 277,125	$ 339,653
Unrealized Gains	39	7
Unrealized Losses	(1,574)	(277)
Estimated Fair Value	275,590	339,383
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	63,675	99,457
Unrealized Gains	0	0
Unrealized Losses	(659)	(210)
Estimated Fair Value	63,016	99,247
U.S. Agency Bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	67,421
Unrealized Gains	0
Unrealized Losses	(401)
Estimated Fair Value	67,020
U.S. Agency Discount Notes
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	4,321
Unrealized Gains	13
Unrealized Losses	0
Estimated Fair Value	4,334
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	1,975	6,029
Unrealized Gains	0	0
Unrealized Losses	(5)	(3)
Estimated Fair Value	1,970	6,026
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	139,733	234,167
Unrealized Gains	26	7
Unrealized Losses	(509)	(64)
Estimated Fair Value	$ 139,250	$ 234,110

Organization and Summary of S_8

Organization and Summary of Significant Accounting Policies - Schedule of Contractual Maturities of Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Due in 1 Year or Less	$ 238,155	$ 291,267
Due Between 1 and 2 Years	37,435	48,116
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Due in 1 Year or Less	57,369	51,131
Due Between 1 and 2 Years	5,647	48,116
U.S. Agency Bonds
Schedule Of Available For Sale Securities [Line Items]
Due in 1 Year or Less	37,202
Due Between 1 and 2 Years	29,818
U.S. Agency Discount Notes
Schedule Of Available For Sale Securities [Line Items]
Due in 1 Year or Less	4,334
Due Between 1 and 2 Years	0
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Due in 1 Year or Less	0	6,026
Due Between 1 and 2 Years	1,970	0
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Due in 1 Year or Less	139,250	234,110
Due Between 1 and 2 Years	$ 0	$ 0

Organization and Summary of S_9

Organization and Summary of Significant Accounting Policies - Schedule of Available-for-Sale Debt Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months, Fair Value	$ 203,396
Less than 12 Months, Unrealized Losses	(997)
12 Months or Longer, Fair Value	47,450
12 Months or Longer, Unrealized Losses	(577)	$ 0
Total, Fair Value	250,846
Total, Unrealized Losses	(1,574)
U.S. Treasury Securities
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months, Fair Value	15,566
Less than 12 Months, Unrealized Losses	(82)
12 Months or Longer, Fair Value	47,450
12 Months or Longer, Unrealized Losses	(577)
Total, Fair Value	63,016
Total, Unrealized Losses	(659)
U.S. Agency Bonds
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months, Fair Value	67,020
Less than 12 Months, Unrealized Losses	(401)
12 Months or Longer, Fair Value	0
12 Months or Longer, Unrealized Losses	0
Total, Fair Value	67,020
Total, Unrealized Losses	(401)
Corporate Debt Securities
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months, Fair Value	1,970
Less than 12 Months, Unrealized Losses	(5)
12 Months or Longer, Fair Value	0
12 Months or Longer, Unrealized Losses	0
Total, Fair Value	1,970
Total, Unrealized Losses	(5)
Commercial Paper
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months, Fair Value	118,840
Less than 12 Months, Unrealized Losses	(509)
12 Months or Longer, Fair Value	0
12 Months or Longer, Unrealized Losses	0
Total, Fair Value	118,840
Total, Unrealized Losses	$ (509)

Organization and Summary of _10

Organization and Summary of Significant Accounting Policies - Summary of Potentially Dilutive Shares Not Included in the Calculation of Net Loss Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potentially dilutive shares	7,424,273	6,039,717
Common Stock Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potentially dilutive shares	7,345,444	5,654,663
Unvested Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potentially dilutive shares	68,406	379,825
Employee Stock Purchase Plan Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potentially dilutive shares	10,423	5,229

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Total property and equipment	$ 8,058	$ 1,543
Less: accumulated depreciation	(972)	(131)
Property, Plant and Equipment, Net, Total	7,086	1,412
Laboratory Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	6,838	1,377
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	752	0
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Total property and equipment	323	27
Construction in Progress
Property Plant And Equipment [Line Items]
Total property and equipment	$ 145	$ 139

Balance Sheet Details - Sched_2

Balance Sheet Details - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued compensation	$ 2,671	$ 1,171
Accrued research and development	4,716	2,130
Other accrued liabilities	623	478
Accrued liabilities	$ 8,010	$ 3,779

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Commitments And Contingencies [Line Items]
Lease incentives received			$ 0.7
Operating lease expense			2.8
Cash paid			$ 0.2	$ 0.3
Torrey Plaza
Commitments And Contingencies [Line Items]
Operating lease commencement date		Apr. 01, 2022
Operating lease term of contract	130 months	130 months
Operating lease, option to extend			option to extend
Operating lease, renewal term	5 years	5 years
Operating lease, existence of option to extend		true
Operating lease, weighted average remaining lease term			10 years 1 month 6 days
Operating lease, weighted average discount rate			8%
Letter of credit	$ 0.8	$ 0.8
Torrey Plaza | Letter of Credit [Member]
Commitments And Contingencies [Line Items]
Percentage of letter of credit subject to certain conditions	50%
Cell Line License Agreement | Wu Xi Biologics
Commitments And Contingencies [Line Items]
Non-refundable license fee paid			$ 0.2
Maximum payment to buy out royalty obligation			$ 15

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Noncancelable Operating Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Commitments And Contingencies [Line Items]
2023	$ 2,761
2024	3,403
2025	3,505
2026	3,611
Thereafter	24,421
Total minimum lease payments	37,701
Less: Imputed interest	(12,396)
Total operating lease liabilities	25,305
Less: Current portion of operating lease liabilities	(763)	$ (194)
Operating lease liabilities, net of current portion	$ 24,542	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	Dec. 31, 2022
Related Party Transaction [Line Items]
Minimum beneficial ownership percentage of outstanding capital stock	5%

Related Party Transactions - Su

Related Party Transactions - Summary of Expense Recognized under 2021 Support Services Agreement (Details) - Support Services Agreement - COI Pharmaceuticals, Inc. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Expense recognized	$ 628	$ 1,934
Research and Development
Related Party Transaction [Line Items]
Expense recognized	537	1,609
General and Administrative
Related Party Transaction [Line Items]
Expense recognized	$ 91	$ 325

Convertible Preferred Stock a_3

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Additional Information (Details) - USD ($)		1 Months Ended				12 Months Ended
	Jun. 10, 2021	Aug. 31, 2022	Jun. 30, 2021	Apr. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock, shares issued						41,684,666	41,622,962
Preferred stock, par value						$ 0.001	$ 0.001
Proceeds from initial public offering, net of issuance costs						$ 0	$ 204,167,000
Common stock reserved for issuance						12,173,923	9,738,250
Weighted average grant date fair value per share of option grants						$ 12.35	$ 8.01
Total Intrinsic value of stock options exercised						$ 100,000	$ 1,000,000
Unrecognized stock-based compensation cost						$ 40,800,000
Unrecognized stock-based compensation cost, weighted-average period of recognition						2 years 6 months
Expected dividend yield						0%	0%
Percentage of number of common stock shares	1%
Aggregate offering price of common stock						$ 42,000	$ 41,000
2017 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock reserved for issuance			1,424,110
2021 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock initially reserved for issuance			2,775,890
Shares authorized for issuance						6,676,843
2021 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock initially reserved for issuance	466,000
Unrecognized stock-based compensation cost						$ 1,400,000
Unrecognized stock-based compensation cost, weighted-average period of recognition						1 year 8 months 12 days
Percentage of eligible earnings withheld to purchase shares of common stock	15%
Fair market value percentage price of common stock purchased	85%
Minimum increase in shares reserved for issuance						932,000
Stock-based compensation expense						$ 600,000	$ 200,000
Maximum
Class Of Stock [Line Items]
Securities issuable		$ 400,000,000
Maximum | Jefferies Group LLC [Member]
Class Of Stock [Line Items]
Aggregate offering price of common stock		$ 100,000,000
Initial Public Offering [Member]
Class Of Stock [Line Items]
Common stock, shares issued			13,110,000
Conversion of convertible preferred stock to common stock in connection with initial public offering, issued (in shares)			26,608,460
Common stock per share			$ 17
Proceeds from stock transaction costs			$ 204,200,000
Series A Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock, shares issued upon conversion					5,894,740
Preferred stock, par value					$ 9.50
Proceeds from issuance of redeemable convertible preferred stock					$ 56,000,000
Series B Preferred Stock
Class Of Stock [Line Items]
Convertible preferred stock, shares issued upon conversion				8,038,073
Preferred stock, par value				$ 15.551
Proceeds from issuance of redeemable convertible preferred stock				$ 125,000,000

Convertible Preferred Stock a_4

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Outstanding Options, Beginning balance	5,654,663
Number of Outstanding Options, Granted	2,252,965
Number of Outstanding Options, Exercised	(7,405)
Number of Outstanding Options, Forfeited or cancelled	(554,779)
Number of Outstanding Options, Ending balance	7,345,444	5,654,663
Number of Outstanding Options, Vested and expected to vest	7,345,444
Number of Outstanding Options, Exercisable	4,954,426
Weighted- Average Exercise Price, Beginning balance	$ 9.65
Weighted- Average Exercise Price, Granted	17.24
Weighted- Average Exercise Price, Exercised	0.17
Weighted- Average Exercise Price, Forfeited or cancelled	13.87
Weighted- Average Exercise Price, Ending balance	11.67	$ 9.65
Weighted- Average Exercise Price, Vested and expected to vest	11.67
Weighted- Average Exercise Price, Exercisable	$ 8.08
Weighted- Average Remaining Contractual Term	8 years 3 months 21 days	9 years 2 months 19 days
Weighted- Average Remaining Contractual Term, Vested and expected to vest	8 years 3 months 21 days
Weighted- Average Remaining Contractual Term, Exercisable	7 years 11 months 12 days
Aggregate Intrinsic Value	$ 29,806	$ 62,954
Aggregate Intrinsic Value, Vested and expected to vest	29,806
Aggregate Intrinsic Value, Exercisable	$ 28,629

Convertible Preferred Stock a_5

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Summary of Fair Value of Stock Option Grants (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Expected dividend yield	0%	0%
Minimum
Class Of Stock [Line Items]
Risk-free interest rate	1.50%	0.80%
Expected volatility	81%	83%
Expected term (in years)	5 years 3 months 18 days	5 years 6 months
Maximum
Class Of Stock [Line Items]
Risk-free interest rate	4.20%	1.60%
Expected volatility	85%	87%
Expected term (in years)	6 years 1 month 6 days	10 years

Convertible Preferred Stock a_6

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 17,203	$ 6,910
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	7,235	3,018
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 9,968	$ 3,892

Convertible Preferred Stock a_7

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Summary of Unvested Shares and Unvested Stock Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) shares
Number of Unvested Shares
Number of Unvested Shares, Beginning balance | shares	379,825
Vested shares | shares	(311,419)
Number of Unvested Shares, Ending balance | shares	68,406
Unvested Stock Liabilities
Unvested Stock Liabilities, Beginning balance | $	$ 1,203
Vested shares | $	(1,034)
Unvested Stock Liabilities, Ending balance | $	$ 169

Convertible Preferred Stock a_8

Convertible Preferred Stock and Stockholders' Equity (Deficit) - Summary of Common Stock Reserved for Future Issuance (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Common Stock Reserved For Future Issuance [Line Items]
Common stock reserved for issuance	12,173,923	9,738,250
Common Stock Options Outstanding
Common Stock Reserved For Future Issuance [Line Items]
Common stock reserved for issuance	7,345,444	5,654,663
Shares Available for Issuance Under Plans
Common Stock Reserved For Future Issuance [Line Items]
Common stock reserved for issuance	4,012,001	3,629,039
Shares Available for Issuance Under ESPP
Common Stock Reserved For Future Issuance [Line Items]
Common stock reserved for issuance	816,478	454,548

Research Collaboration and Ex_2

Research Collaboration and Exclusive License Agreement - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Target	Dec. 31, 2021 USD ($)
Research And Development Arrangement Contract To Perform For Others [Line Items]
Deferred revenue current	$ 5,406	$ 5,163
Accounts receivable outstanding	0	0
Merck Agreement First Collaboration Target
Research And Development Arrangement Contract To Perform For Others [Line Items]
Aggregate transaction price allocated to unsatisfied performance obligation	500
Merck Agreement Second Collaboration Target
Research And Development Arrangement Contract To Perform For Others [Line Items]
Aggregate transaction price allocated to unsatisfied performance obligation	$ 10,000
Merck Agreement
Research And Development Arrangement Contract To Perform For Others [Line Items]
Number of collaboration targets | Target	2
Non-refundable and non-creditable upfront fee	$ 8,000
Payable upon selection of second collaboration target	8,000
Milestone payments	285,000
Transaction price	11,400
Reimbursable research program funding for collaboration target	3,400
Revenue recognized	8,600	$ 3,600
Deferred revenue	7,600
Deferred revenue current	5,400
Merck Agreement | Maximum
Research And Development Arrangement Contract To Perform For Others [Line Items]
Milestone payments per collaboration target	142,500
Milestone payments upon successful completion of certain commercial milestones	$ 350,000

Research Collaboration and Ex_3

Research Collaboration and Exclusive License Agreement - Additional Information 1 (Detail) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01	Dec. 31, 2022
First Collaboration Target
Research And Development Arrangement Contract To Perform For Others [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months 18 days
Second Collaboration Target
Research And Development Arrangement Contract To Perform For Others [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year 8 months 12 days

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Deferred tax expense or benefit	$ 0	$ 0
Accrual for interest or penalties	0	0
Unrecognized tax benefits	1,273,000	$ 510,000	$ 234,000
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	50,000,000
Operating loss carryforwards subject to expiration	500,000
Operating loss carryforwards indefinite period	$ 49,500,000
Percentage to be utilized to offset future taxable income.	80%
Net operating loss carryforwards expiration starting period	2037
Federal | Research
Operating Loss Carryforwards [Line Items]
Tax credits	$ 3,100,000
Tax credits expiration starting year	2037
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 82,000,000
Net operating loss carryforwards expiration starting period	2037
State | Research
Operating Loss Carryforwards [Line Items]
Tax credits	$ 1,900,000

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Expected tax benefit computed at federal statutory rate	$ (13,242)	$ (6,861)
State income taxes, net of federal tax benefit	(3,754)	(2,169)
Permanent differences	1,899	324
Research and development credits	(2,930)	(745)
Reserve for uncertain tax positions	715	253
Other	80	328
Change in valuation allowance	$ 17,232	$ 8,870

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Net Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 16,261	$ 11,134
Research and development credit carryforwards	3,377	1,179
Stock-based compensation	3,453	1,273
Lease liability	7,081
Capitalized research and development	8,310	54
Other	430	77
Total deferred tax assets	38,912	13,717
Valuation allowance	(30,976)	(13,390)
Net deferred tax assets	7,936	327
Deferred tax liabilities:
Property and equipment	(1,519)	(106)
ROU asset	(6,235)
Other	(182)	(221)
Total gross deferred tax liabilities	$ (7,936)	$ (327)

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes to Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Balance at beginning of year	$ 510	$ 234
Decreases related to prior year tax positions		(50)
Increases related to current year tax positions	763	326
Balance at end of year	$ 1,273	$ 510

401 (k) Plan - Additional Infor

401 (k) Plan - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
Maximum
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employers matching contribution, annual vesting percentage	3%