Monte Rosa Therapeutics (GLUE) 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 07, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	Monte Rosa Therapeutics, Inc.
Entity Central Index Key	0001826457
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		48,399,056
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Security12b Title	Common stock, par value $0.0001 per share
Trading Symbol	GLUE
Security Exchange Name	NASDAQ
Entity File Number	001-40522
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	84-3766197
Entity Address Address Line1	645 Summer Street
Entity Address, Address Line Two	Suite 102
Entity Address City Or Town	Boston
Entity Address State Or Province	MA
Entity Address Postal Zip Code	02210
City Area Code	617
Local Phone Number	949-2643
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 112,394		$ 346,071
Marketable securities	159,755		0
Proceeds receivable from common stock sale	13,507		0
Other receivables	4,050		0
Current restricted cash	960		0
Prepaid expenses and other current assets	4,569		2,595
Total current assets	295,235		348,666
Property and equipment, net	19,384		12,325
Operating lease right-of-use assets	38,534		0
Restricted cash, net of current	4,302		5,338
Other long-term assets	148		0
Total assets	357,603		366,329
Current liabilities:
Accounts payable	9,753		6,558
Accrued expenses and other current liabilities	8,972		10,080
Current portion of operating lease liability	3,065		0
Total current liabilities	21,790		16,638
Defined benefit plan liability	2,128		2,176
Operating lease liability	42,593		0
Total liabilities	66,511		18,814
Commitments and contingencies
Stockholders' equity
Common stock, $0.0001 par value; 500,000,000 shares authorized, 48,528,247 shares issued and 48,372,781 shares outstanding as of September 30, 2022; and 500,000,000 shares authorized, 46,794,295 shares issued and 46,535,966 shares outstanding as of December 31, 2021	5		5
Additional paid-in capital	493,443		471,566
Accumulated other comprehensive loss	(2,602)		(2,021)
Accumulated deficit	(199,754)		(122,035)
Total stockholders' equity	291,092	$ 302,050	347,515
Total liabilities and stockholders' equity	$ 357,603		$ 366,329

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par or stated value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares, issued	48,528,247	46,794,295
Common stock shares outstanding	48,372,781	46,535,966

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating expenses:
Research and development	$ 21,342	$ 15,115	$ 60,193	$ 39,025
General and administrative	7,020	4,753	19,702	10,470
Total operating expenses	28,362	19,868	79,895	49,495
Loss from operations	(28,362)	(19,868)	(79,895)	(49,495)
Other income (expense):
Interest income, net	997	13	1,774	33
Foreign currency exchange gain (loss), net	63	18	293	(96)
Gain (loss) on disposal of fixed assets	(16)	0	109	0
Changes in fair value of preferred stock tranche obligations, net	0	0	0	(960)
Total other income (expense)	1,044	31	2,176	(1,023)
Net loss	$ (27,318)	$ (19,837)	$ (77,719)	$ (50,518)
Net loss per share attributable to common stockholders-basic	$ (0.58)	$ (0.43)	$ (1.67)	$ (2.85)
Net loss per share attributable to common stockholders-diluted	$ (0.58)	$ (0.43)	$ (1.67)	$ (2.85)
Weighted-average number of shares outstanding used in computing net loss per common share-basic	46,732,353	45,987,866	46,666,000	17,751,410
Weighted-average number of shares outstanding used in computing net loss per common share-diluted	46,732,353	45,987,866	46,666,000	17,751,410
Comprehensive loss:
Net loss	$ (27,318)	$ (19,837)	$ (77,719)	$ (50,518)
Provision for pension benefit obligation	32	(535)	99	(894)
Unrealized loss on available-for-sale securities	(176)	0	(680)	0
Comprehensive loss	$ (27,462)	$ (20,372)	$ (78,300)	$ (51,412)

Condensed Combined and Consolid

Condensed Combined and Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Series B Convertible Preferred Stock	Series C Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance at Dec. 31, 2020	$ (48,728)				$ 1	$ 404	$ (1,056)	$ (48,077)
Balance at Dec. 31, 2020		$ 67,764
Balance (in shares) at Dec. 31, 2020		53,631,514			1,685,534
Restricted common stock vesting, Shares					36,565
Issuance of convertible preferred stock, net of issuance costs			$ 68,571	$ 94,837
Issuance of convertible preferred stock, net of issuance costs, shares			24,000,000	32,054,521
Provision for pension benefit obligation	136						136
Stock-based compensation expense	252					252
Net loss	(12,276)							(12,276)
Balance at Mar. 31, 2021	(60,616)				$ 1	656	(920)	(60,353)
Balance (in shares) at Mar. 31, 2021					1,722,099
Balance at Mar. 31, 2021		$ 231,172
Balance (in shares) at Mar. 31, 2021		109,686,035
Balance at Dec. 31, 2020	(48,728)				$ 1	404	(1,056)	(48,077)
Balance at Dec. 31, 2020		$ 67,764
Balance (in shares) at Dec. 31, 2020		53,631,514			1,685,534
Net loss	(50,518)
Balance at Sep. 30, 2021	369,305				$ 5	469,845	(1,950)	(98,595)
Balance (in shares) at Sep. 30, 2021					46,483,918
Balance at Sep. 30, 2021		$ 0
Balance (in shares) at Sep. 30, 2021		0
Balance at Mar. 31, 2021	(60,616)				$ 1	656	(920)	(60,353)
Balance (in shares) at Mar. 31, 2021					1,722,099
Balance at Mar. 31, 2021		$ 231,172
Balance (in shares) at Mar. 31, 2021		109,686,035
Restricted common stock vesting, Shares					36,580
Exercise of common stock options	128					128
Exercise of common stock options, Shares					76,950
Conversion of convertible preferred stock into common stock	231,172	$ (231,172)			$ 2	231,170
Conversion of convertible preferred stock into common stock, Shares		(109,686,035)			31,068,102
Issuance of common stock in connection with initial public offering, net of issuance costs	203,875				$ 1	203,874
Issuance of common stock in connection with initial public offering, net of issuance costs, shares					11,700,000
Provision for pension benefit obligation	(495)						(495)
Stock-based compensation expense	1,019					1,019
Net loss	(18,405)							(18,405)
Balance at Jun. 30, 2021	356,678				$ 4	436,847	(1,415)	(78,758)
Balance (in shares) at Jun. 30, 2021					44,603,731
Balance at Jun. 30, 2021		$ 0
Balance (in shares) at Jun. 30, 2021		0
Restricted common stock vesting, Shares					125,187
Issuance of common stock in connection with initial public offering, net of issuance costs	30,926				$ 1	30,925
Issuance of common stock in connection with initial public offering, net of issuance costs, shares					1,755,000
Provision for pension benefit obligation	(535)						(535)
Stock-based compensation expense	2,073					2,073
Net loss	(19,837)							(19,837)
Balance at Sep. 30, 2021	369,305				$ 5	469,845	(1,950)	(98,595)
Balance (in shares) at Sep. 30, 2021					46,483,918
Balance at Sep. 30, 2021		$ 0
Balance (in shares) at Sep. 30, 2021		0
Balance at Dec. 31, 2021	347,515				$ 5	471,566	(2,021)	(122,035)
Balance (in shares) at Dec. 31, 2021					46,535,966
Restricted common stock vesting, Shares					34,505
Exercise of common stock options	153					153
Exercise of common stock options, Shares					60,240
Provision for pension benefit obligation	34						34
Stock-based compensation expense	2,251					2,251
Unrealized loss on available-for-sale securities	(146)						(146)
Net loss	(23,932)							(23,932)
Balance at Mar. 31, 2022	325,875				$ 5	473,970	(2,133)	(145,967)
Balance (in shares) at Mar. 31, 2022					46,630,711
Balance at Dec. 31, 2021	$ 347,515				$ 5	471,566	(2,021)	(122,035)
Balance (in shares) at Dec. 31, 2021					46,535,966
Exercise of common stock options, Shares	95,726
Net loss	$ (77,719)
Balance at Sep. 30, 2022	291,092				$ 5	493,443	(2,602)	(199,754)
Balance (in shares) at Sep. 30, 2022					48,372,781
Balance at Mar. 31, 2022	325,875				$ 5	473,970	(2,133)	(145,967)
Balance (in shares) at Mar. 31, 2022					46,630,711
Restricted common stock vesting, Shares					34,508
Exercise of common stock options	96					96
Exercise of common stock options, Shares					19,439
Provision for pension benefit obligation	33						33
Stock-based compensation expense	2,873					2,873
Unrealized loss on available-for-sale securities	(358)						(358)
Net loss	(26,469)							(26,469)
Balance at Jun. 30, 2022	302,050				$ 5	476,939	(2,458)	(172,436)
Balance (in shares) at Jun. 30, 2022					46,684,658
Restricted common stock vesting, Shares					33,850
Exercise of common stock options	79					79
Exercise of common stock options, Shares					16,047
Issuance of common stock, net of issuance costs Shares					$ 1,638,226
Issuance of common stock, net of issuance costs	13,211					13,211
Provision for pension benefit obligation	32						32
Stock-based compensation expense	3,214					3,214
Unrealized loss on available-for-sale securities	(176)						(176)
Net loss	(27,318)							(27,318)
Balance at Sep. 30, 2022	$ 291,092				$ 5	$ 493,443	$ (2,602)	$ (199,754)
Balance (in shares) at Sep. 30, 2022					48,372,781

Condensed Combined and Consol_2

Condensed Combined and Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Series B Convertible Preferred Stock
Stock issuance costs of convertible securities				$ 69
Series C Convertible Preferred Stock
Stock issuance costs of convertible securities				$ 163
Common Stock
Stock issuance costs	$ 714	$ 2,300	$ 18,500

Condensed Combined and Consol_3

Condensed Combined and Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (77,719)	$ (50,518)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation expense	8,338	3,344
Depreciation	2,675	1,323
Noncash lease expense	3,202	0
Net accretion of discounts/premiums on marketable securities	(685)	0
Changes in fair value of preferred stock tranche obligations	0	960
Gain (loss) on disposal of property and equipment	109	(13)
Changes in operating assets and liabilities
Other receivables	(177)	0
Prepaid expenses and other current assets	(2,122)	(1,593)
Accounts payable	(899)	(5,446)
Accrued expenses and other current liabilities	(1,041)	6,726
Defined benefit plan liability	50	0
Right-of-use assets and operating lease liabilities	(18)
Net cash used in operating activities	(68,505)	(45,191)
Cash flows from investing activities:
Purchases of property and equipment	(5,640)	(6,673)
Proceeds from sale of property and equipment	109	67
Purchases of marketable securities	(290,049)	0
Proceeds from maturities of marketable securities	130,300	0
Net cash used in investing activities	(165,280)	(6,606)
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock	0	143,000
Payment of convertible preferred stock issuance costs	0	(231)
Proceeds from initial public offering, net of underwriting discount	0	237,750
Payment of initial public offering issuance costs	0	(2,950)
Payment of common stock issuance costs	(296)	0
Proceeds from exercise of employee stock options	328	128
Net cash provided by financing activities	32	377,697
Net (decrease) increase in cash, cash equivalents and restricted cash	(233,753)	325,900
Cash, cash equivalents and restricted cash—beginning of period	351,409	42,863
Cash, cash equivalents and restricted cash-end of period	117,656	368,763
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	112,394	367,034
Restricted cash	5,262	1,729
Total cash, cash equivalents and restricted cash	117,656	368,763
Supplemental disclosure of noncash items
Conversion of convertible preferred stock into common stock	0	231,172
Settlement of preferred stock tranche obligation	0	20,640
Common stock issuance costs in accounts payable and accrued expenses	31	0
Proceeds receivable from issuance of common stock	13,507	0
Reduction of right-of-use assets for lease incentives receivable	3,872	0
Purchases of property and equipment in accounts payable and accrued expenses	$ 4,750	$ 1,909

Condensed Combined and Consol_4

Condensed Combined and Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Cash Flows [Abstract]
Proceeds from initial public offering, net of underwriting discount	$ 17.9	$ 17.9

Description of Business, Contri

Description of Business, Contribution and Exchange, and Liquidity	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Description of Business, Contribution and Exchange, and Liquidity	1. Description of business, contribution and exchange, and liquidity Business Monte Rosa Therapeutics, Inc. is a biotechnology company developing a portfolio of novel small molecule precision medicines that employ the body’s natural mechanisms to selectively degrade therapeutically-relevant proteins. As used in these condensed consolidated financial statements, unless the context otherwise requires, references to the Company or Monte Rosa refer to Monte Rosa Therapeutics, Inc. and its wholly owned subsidiaries Monte Rosa Therapeutics AG and Monte Rosa Therapeutics Securities Corp. Monte Rosa Therapeutics AG, a Swiss operating company, was incorporated under the laws of Switzerland in April 2018. Monte Rosa Therapeutics, Inc. was incorporated in Delaware in November 2019. The Company is headquartered in Boston, Massachusetts with research operations in both Boston and Basel, Switzerland. Reverse Stock Split The Company's board of directors approved a one-for-3.5305 reverse stock split of its issued and outstanding common stock and stock options and a proportional adjustment to the existing conversion ratios for the Company's preferred stock effective as of June 17, 2021. Accordingly, all share and per share amounts for all periods presented in the financial statements and notes thereto have been retroactively adjusted, where applicable, to reflect the reverse stock split. Initial Public Offering In June 2021 the Company completed its initial public offering, or IPO, and issued an aggregate of 11,700,000 shares of common stock at a price to the public of $ 19.00 per share. The Company received aggregate net proceeds from the IPO of $ 203.6 million, after deducting underwriting discounts and commissions of $ 15.6 million and offering costs of $ 3.1 million. In connection with the IPO, the Company granted the underwriters a 30-day option to purchase an additional 1,755,000 shares. In July 2021, the underwriters exercised the option in full and the Company issued 1,755,000 shares of common stock for aggregate net proceeds of $ 31.0 million after deducting underwriter discounts and commissions of $ 2.3 million. Immediately prior to consummation of the IPO, all outstanding shares of the Company's Series A, Series A-2, Series B and Series C convertible preferred stock were converted into 31,068,102 shares of common stock. The Company's common stock began trading on the Nasdaq Global Select Market on June 24, 2021 under the symbol “GLUE”. Liquidity considerations Since inception, the Company has devoted substantially all its efforts to business planning, research and development, recruiting management and technical staff, and raising capital and has financed its operations primarily through the issuance of convertible preferred shares and public offerings of the Company's common stock. The Company’s continued discovery and development of its product candidates will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. As of September 30, 2022, the Company had an accumulated deficit of $ 199.8 million. The Company has incurred losses and negative cash flows from operations since inception, including net losses of $ 77.7 million and $ 50.5 million for the nine months ended September 30, 2022 and 2021, respectively. The Company expects that its operating losses and negative cash flows will continue for the foreseeable future as the Company continues to develop its product candidates. The Company currently expects that its cash, cash equivalents, and marketable securities of $ 272.1 million as of September 30, 2022 will be sufficient to fund operating expenses and capital requirements for at least 12 months from the date the third quarter interim condensed consolidated financial statements are issued. However, additional funding will be necessary to fund future discovery research, pre-clinical and clinical activities. The Company will seek additional funding through public financings, debt financings, collaboration agreements, strategic alliances and licensing arrangements. Although it has been successful in raising capital in the past, there is no assurance that the Company will be successful in obtaining such additional financing on terms acceptable to it, if at all, and the Company may not be able to enter into collaborations or other arrangements. If the Company is unable to obtain funding, it could be forced to delay, reduce or eliminate its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect the Company’s business prospects, even the ability to continue operations.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of significant accounting policies	2. Summary of significant accounting policies Basis of presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, and are stated in U.S. dollars. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification and Accounting Standards Updates, or ASUs, of the Financial Accounting Standards Board, or FASB. All intercompany balances and transactions have been eliminated in consolidation. Unaudited Financial Information The Company’s condensed consolidated financial statements included herein have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, and pursuant to the rules and regulations of the SEC. In the Company’s opinion, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair presentation of the financial position and results of operations for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period. Recently issued accounting pronouncements The Company has elected to use the extended transition period for complying with new or revised accounting standards as available under the Jumpstart Our Business Startups Act (JOBS Act). In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires measurement and recognition of expected credit losses for financial assets. In April 2019, the FASB issued clarification to ASU 2016-13 within ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging , and Topic 825, Financial Instruments , or ASU 2016-13. The guidance is effective for fiscal years beginning after December 15, 2022. The Company is currently assessing the potential impact of adopting ASU 2016-13 on its financial statements and financial statement disclosures. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . ASU 2020-06 will simplify the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (i) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (ii) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. ASU 2020-06 also amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. ASU 2020-06 will be effective for the Company beginning after December 15, 2023. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently assessing the impact adoption of ASU 2020-06 will have on its financial statements and disclosures. Recently adopted accounting pronouncements On January 1, 2022, the Company adopted Accounting Standard Update (“ASU”) No. 2016-02, Leases (Topic 842), and its associated amendments using the modified retrospective transition approach by applying the new standard to all leases existing at the date of initial application and not restating comparative periods. There was no cumulative-effect adjustment recorded to retained earnings upon adoption. Under the standard, a lessee is required to recognize a lease liability and right-of-use (ROU) asset for all leases, unless the lease qualifies for the short-term lease exception. The new guidance also modified the classification criteria and requires additional disclosures to enable users of financial statements to understand the amount, timing, and uncertainty of cash flows arising from leases. Consistent with current guidance, a lessee’s recognition, measurement, and presentation of expenses and cash flows arising from a lease continues to depend primarily on its classification. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward its historical lease classification, its assessment on whether a contract was or contains a lease, and its initial direct costs for any leases that existed prior to January 1, 2022. In addition, the Company elected the following transitional practical expedients: (1) the short-term lease exception and (2) to not separate its non-lease components for its real estate, vehicle and equipment leases. Upon the adoption of this standard, the Company recorded operating lease right-of-use assets of $ 7.3 million and corresponding operating lease liabilities of $ 7.4 million as of January 1, 2022. The difference between the value of the right-of-use assets and lease liabilities is due to the reclassification of existing deferred rent as of January 1, 2022. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, or ASU 2019-12. ASU 2019-12 eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted ASU 2019-12 on January 1, 2022. The adoption of the standard was immaterial to the accompanying condensed consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair value measurements The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands): As of September 30, 2022 Level 1 Level 2 Level 3 Total Current assets Money market funds $ 101,157 $ — $ — $ 101,157 Pension plan assets — 3,739 — 3,739 Corporate debt securities — 83,503 — 83,503 U.S Treasury securities — 76,252 — 76,252 Total assets measured at fair value $ 101,157 $ 163,494 $ — $ 264,651 Money market funds are highly liquid investments and are actively traded. The pricing information on the Company’s money market funds are based on quoted prices in active markets for identical securities. This approach results in the classification of these securities as Level 1 of the fair value hierarchy. The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured members held within the Swiss Life Collective BVG Foundation collective investment fund and are classified within Level 2 of the fair value hierarchy. Marketable securities consist of corporate debt securities and U.S. Treasury securities which are classified as available-for-sale pursuant to ASC 320, Investments—Debt and Equity Securities . Marketable securities are classified within Level 2 of the fair value hierarchy because pricing inputs are other than quoted prices in active markets. The fair values of these investments are estimated by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities based on historical data and other observable inputs. All marketable securities have a maturity date within the next 12 months. There were no transfers among Level 1, Level 2 or Level 3 categories in the nine months ended September 30, 2022 and 2021 .

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	4. Marketable Securities Marketable securities as of September 30, 2022 consisted of the following (in thousands) : Amortized Unrealized Unrealized Fair Cost Gains Losses Value Description Corporate debt securities $ 83,917 $ 5 $ ( 419 ) $ 83,503 U.S Treasury securities 76,518 1 ( 267 ) 76,252 Total $ 160,435 $ 6 $ ( 686 ) $ 159,755 As of September 30, 2022, the Company held 27 marketable securities, 21 of which were in an unrealized loss position. The aggregate fair value of securities in a loss position is $ 118.1 million. There were no individual securities that were in a significant unrealized loss position as of September 30, 2022. The Company evaluates securities for other-than-temporary impairments based on quantitative and qualitative factors, and considers the decline in market value as of September 30, 2022 , to be primarily attributable to the then current economic and market conditions. The Company neither intends to sell these investments nor concludes that it is more-likely-than-not that the Company will have to sell them before recovery of their carrying values. The Company also believes that it will be able to collect both principal and interest amounts due to it at maturity.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	5. Property and Equipment, net Property and equipment, net, consist of the following (in thousands): September 30, December 31, Laboratory equipment $ 16,914 $ 12,315 Computer hardware and software 491 299 Furniture and fixtures 299 443 Leasehold improvements 1,368 1,119 Construction in process 5,492 852 Total property and equipment, at cost $ 24,564 $ 15,028 Less: accumulated depreciation ( 5,180 ) ( 2,703 ) Property and equipment, net $ 19,384 $ 12,325 Depreciation expense for the three months ended September 30, 2022 and 2021 was $ 1.1 million and $ 0.6 million, respectively. Depreciation expense for the nine months ended September 30, 2022 and 2021 was $ 2.7 million and $ 1.3 million, respectively.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	6. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities in the condensed consolidated balance sheets. The Company has no finance leases as of September 30, 2022. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, management estimated the incremental borrowing rate based on the rate of interest the Company would have to pay to borrow a similar amount on a collateralized basis over a similar term. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Summer Street Lease In September 2020, the Company entered into an operating lease agreement to lease 16,748 square feet of office and laboratory space at 645 Summer Street, Boston, Massachusetts. The original term of the 645 Summer Lease expires in March 2026 . On May 5, 2022, the Company entered into an Agreement for Termination of Lease (the “Lease Termination Agreement”) with OPG MP Parcel Owner (DE) LLC (the “Landlord”) which, subject to the Landlord executing a lease with a new tenant, provides the Company with the option to terminate the existing lease agreement (the “645 Summer Lease”) for office space located at 645 Summer Street, Boston, MA. On August 8, 2022, the termination condition was met. As a result, the operating lease ROU asset and operating lease liability were reduced by $ 3.7 million to $ 1.3 million and $ 1.4 million, respectively, and the $ 1.0 million security deposit associated with the lease was reclassified from long-term restricted cash to current restricted cash on the condensed consolidated balance sheet. The 645 Summer lease will terminate on June 1, 2023 , provided, however, the Company may terminate the lease as of any date between February 1, 2023 and June 1, 2023 upon providing 90 days prior notice of such date. Klybeck Lease In March 2021, the Company entered into an operating lease agreement for office and lab space that occupies approximately 21,422 square feet located at Hochbergerstrasse 60C, 4057 Basel, Basel-City, Switzerland. The current term of the lease expires in March 2026. Harrison Avenue Lease In December 2021, the Company entered into a non-cancelable lease agreement for 63,327 square feet of office and laboratory space to support its expanding operations. The term of the lease commenced on April 1, 2022 and the Company’s obligation to pay rent will begin upon the earlier of (a) December 1, 2022 or (b) the date which is two (2) months following the date which Company substantially completes its tenant improvements. The initial term of the lease is 128 months following the commencement date at which point the Company has the option to extend the lease an additional 5 years . As of the lease commencement date, the Company has determined that it is not reasonably certain to exercise the option to extend the lease and has not included the extension period in the lease term. The annual base rent under the Lease is $ 95.00 per square foot for the first year, which is subject to scheduled annual increases of 3 %, plus certain costs, operating expenses and property management fees. Pursuant to the terms of the Harrison Avenue Lease, the landlord will reimburse the Company For $ 13 million of tenant improvements. The Company will reduce the ROU asset and record an asset for construction in progress as costs and incurred and reimbursed. These costs will be reclassified from construction in progress to leasehold improvements upon completion of the project. As of September 30, 2022 the Company had $ 3.9 million receivable in reimbursable tenant improvements which is recorded as an other receivable on the condensed consolidated balance sheet. The components of lease expense for the nine months ended September 30, 2022 are as follows (in thousands): Nine months ended September 30, 2022 Operating lease expense $ 4,857 Variable lease expense 1,128 Total lease expense $ 5,985 The variable lease expenses generally include common area maintenance and property taxes. All lease related expenses have been recorded as research and development expense in the condensed consolidated statements of operations and comprehensive loss. There were no short-term lease costs in the nine months ended September 30, 2022. The weighted average remaining lease term and discount rate related to the Company's leases are as follows: September 30, 2022 Weighted average remaining lease term (years) 9.9 Weighted average discount rate 9.8 % Supplemental cash flow information relating to the Company's leases for the nine months ended September 30, 2022 are as follows (in thousands): Nine months ended September 30, 2022 Right-of-use assets obtained in exchange for operating lease obligations $ 48,488 Cash paid for amounts included in the measurement of lease liabilities $ 1,181 The amortization of the ROU assets for the nine months ended September 30, 2022 was $ 2.4 million. Future minimum lease payments under non-cancelable leases as of September 30, 2022 for each of the years ending December 31 are as follows (in thousands): Undiscounted lease payments Remaining 2022 $ 1,023 2023 7,373 2024 6,788 2025 6,983 2026 6,867 Thereafter 44,360 Total undiscounted minimum lease payments 73,394 Less: Imputed interest ( 27,736 ) Total operating lease liability $ 45,658 Prior to January 1, 2022, the Company accounted for its leases in accordance with ASC Topic 840, Leases . As of December 31, 2021, the Company was committed under operating leases for its corporate offices. The future minimum lease payments under non-cancelable operating leases as of December 31, 2021 were as follows: 2022 $ 3,160 2023 8,353 2024 8,583 2025 8,820 2026 7,298 Thereafter 44,360 Total future minimum lease payments $ 80,574

Common stock

Common stock	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Common stock	7. Common stock The Company’s board of directors approved a one -for-3.5305 reverse stock split of its issued and outstanding common stock and stock options and a proportional adjustment to the existing conversion ratios for the Company’s preferred stock effective as of June 17, 2021 . Accordingly, all share and per share amounts for all periods presented in the accompanying financial statements and notes thereto have been retroactively adjusted, where applicable, to reflect the reverse stock split. On September 30, 2022, the Company sold 1,638,226 shares of common stock in an at-the-market (ATM) offering for aggregate gross proceeds of $ 13.9 million, or aggregate net proceeds of $ 13.2 million after deducting underwriting discounts and commissions and other offering costs. The proceeds from the ATM offering were receivable as of September 30, 2022. On October 5, 2022, the transaction was settled and the cash proceeds net of underwriting costs were received. The Company had 500,000,000 shares of common stock authorized, of which 48,528,247 shares were issued and 48,372,781 shares were outstanding as of September 30, 2022. The holders of common stock are entitled to dividends when and if declared by the board of directors. The board of directors has no t declared any dividends and the Company has no t paid any dividends. The holders of common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. The Company has issued restricted stock to founders, employees and consultants, and expense for this restricted stock is recognized on a straight-line basis (see Note 8). The restricted stock generally vests monthly over 4 years . As of September 30, 2022, and December 31, 2021, the Company has reserved the following shares of common stock for the vesting of restricted stock and exercise of stock options: September 30, December 31, Options to purchase common stock 7,207,043 5,563,513 Unvested restricted common stock awards 155,466 258,329 Unvested restricted common stock units 91,000 — 7,453,509 5,821,842

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	8. Stock-based compensation 2020 Stock incentive plan The Company’s 2020 Stock Option and Grant Plan, or the 2020 Plan, provided for the Company to grant stock options, restricted stock and other stock awards, to employees, non-employee directors, and consultants. Upon the effectiveness of the 2021 Plan (as defined below), no further issuances will be made under the 2020 Plan. 2021 Stock incentive plan The Company’s 2021 Stock Option and Incentive Plan, or the 2021 Plan, was approved by the Company’s board of directors on May 28, 2021 and the Company’s stockholders on June 17, 2021 and became effective on the date immediately prior to the date on which the registration statement for the Company’s IPO was declared effective. The 2021 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, restricted stock awards, unrestricted stock awards, cash-based awards and dividend equivalent rights to the Company’s officers, employees, directors and consultants. The number of shares initially reserved for issuance under the 2021 Plan is 4,903,145 . As of December 31, 2021, 3,658,193 shares of common stock were available for issuance under 2021 Plan. As of September 30, 2022, 4,055,464 shares were available for issuance under the 2021 Plan. Under the evergreen provision of the 2021 plan, each January 1 commencing in 2022 and thereafter automatically increases shares available for issuance by 5 % of the outstanding number of shares of the Company’s common stock on the immediately preceding December 31 or such lesser number of shares as may be determined by the Company’s compensation, nomination and corporate governance committee. 2021 Employee stock purchase plan The Company’s 2021 Employee Stock Purchase Plan, or the 2021 ESPP, was approved by the Company’s board of directors on May 28, 2021 and the Company’s stockholders on June 17, 2021 and became effective on the date immediately prior to the date on which the registration statement for the Company’s IPO was declared effective. A total of 439,849 shares of the Company’s common stock were initially reserved for issuance under the 2021 ESPP, which will be automatically increased on January 1, 2022 and will continue to increase each January 1 thereafter through January 1, 2031, by the least of (i) 439,849 shares of the Company’s common stock, (ii) 1 % of the outstanding number of shares of the Company’s common stock on the immediately preceding December 31, 2020 or (iii) such lesser number of shares of the Company’s common stock as determined by the plan administrator of the 2021 ESPP. As of December 31, 2021 439,849 shares of common stock remained available for issuance under the 2021 ESPP. Effective January 1, 2022 the number of shares available under the 2021 ESPP automatically increased by 439,849 shares pursuant to the evergreen provision of the 2021 ESPP. As of September 30, 2022, 879,698 shares were available for issuance under the 2021 ESPP. Stock option activity The following summarizes stock option activity: Number of Weighted Weighted Aggregate Outstanding—December 31, 2021 5,563,513 $ 7.92 9.2 $ 70,045 Granted 1,954,775 12.76 — — Exercised ( 95,726 ) 3.42 — — Forfeited ( 215,519 ) 12.41 — — Outstanding—September 30, 2022 7,207,043 $ 9.16 8.7 $ 14,897 Exercisable—September 30, 2022 2,033,754 $ 7.04 8.4 $ 6,378 The aggregate intrinsic value of options granted is calculated as the difference between the exercise price of the options and the estimated fair value of the Company’s common stock. Restricted stock award activity The following summarizes restricted stock award activity: Number Weighted Unvested as of December 31, 2021 258,329 $ 0.90 Vested ( 102,863 ) $ 0.77 Unvested as of September 30, 2022 155,466 $ 0.98 The aggregate fair value of restricted stock awards that vested during the nine months ended September 30, 2022 was $ 1.2 million. The aggregate fair value of restricted stock that vested during the nine months ended September 30, 2021 was $ 0.2 million. The weighted average grant date fair value of restricted stock that vested during the nine months ended September 30, 2022 was $ 0.77 . Restricted stock unit activity The following summarizes restricted stock unit activity: Number Weighted Unvested as of December 31, 2021 — $ — Granted 91,000 $ 10.11 Unvested as of September 30, 2022 91,000 $ 10.11 The weighted average grant date fair value of restricted stock granted during the nine months ended September 30, 2022 was $ 10.11 . Stock-based compensation expense Stock-based compensation expense is classified as follows (in thousands): Nine months ended 2022 2021 Research and development $ 4,289 $ 1,559 General and administrative 4,049 1,785 Total stock-based compensation expense $ 8,338 $ 3,344 As of September 30, 2022 total unrecognized stock–based compensation cost related to unvested stock options, restricted stock awards, and restricted stock units was $ 32.6 million, $ 0.2 million, and $ 0.8 million, respectively. The Company expects to recognize this remaining cost over a weighted average period of 2.7 years, 1.2 years, and 1.8 years, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	. Income taxes The Company did no t record a provision or benefit for income taxes during the nine months ended September 30, 2022 and 2021. The Company continues to maintain a full valuation allowance against all of its deferred tax assets. The Company has evaluated the positive and negative evidence involving its ability to realize our deferred tax assets. The Company has considered its history of cumulative net losses incurred since inception and its lack of any commercial products. The Company has concluded that it is more likely than not that it will not realize the benefits of its deferred tax assets. The Company reevaluates the positive and negative evidence at each reporting period.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Common Share	10. Net loss per common share Basic and diluted net loss per share attributable to common stockholders is calculated as follows (in thousands except share and per share amounts): Three months ended Nine months ended 2022 2021 2022 2021 Net loss $ ( 27,318 ) $ ( 19,837 ) $ ( 77,719 ) $ ( 50,518 ) Net loss per share attributable to common stockholders—basic and diluted $ ( 0.58 ) $ ( 0.43 ) $ ( 1.67 ) $ ( 2.85 ) Weighted-average number of common shares used in computing net loss 46,732,353 45,987,866 46,666,000 17,751,410 The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per common share, as their effect is anti-dilutive: September 30, September 30, 2022 2021 Stock options to purchase common stock 7,207,043 5,566,421 Restricted common stock 155,466 296,929 Restricted stock units 91,000 —

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Parties	11. Related parties Versant Venture Management, LLC or Versant Venture has been a related party since inception of the Company as an investor and member of the board of directors. The Company had a service agreement with a Versant Venture discovery engine, Ridgeline Discovery, or Ridgeline. Ridgeline provided management and administrative support to facilitate start-up of the Company and provided research and development services. Expenses attributable to Ridgeline were recognized primarily in research and development expenses in the Company’s condensed consolidated statements of operations and comprehensive loss. The Company paid $ 0.5 million and $ 7.8 million to Ridgeline during the three and nine month periods ended September 30, 2021, respectively. The consulting agreement with Ridgeline expired December 31, 2021. Transactions with Versant Venture and Ridgeline for the three and nine month periods ended September 30, 2022, were immaterial.

Employee Retirement Plan

Employee Retirement Plan	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Retirement Plan	12. Employee retirement plans The Company, in compliance with Swiss Law, is contracted with the Swiss Life Collective BVG Foundation for the provision of pension benefits in a defined benefit plan. All benefits are reinsured in their entirety with Swiss Life Ltd within the framework of the contract. The technical administration and management of the savings account are guaranteed by Swiss Life on behalf of the collective foundation. Insurance benefits due are paid directly to the entitled persons by Swiss Life in the name of and for the account of the collective foundation. The pension plan is financed by contributions of both employees and employer. The contract between the Company and the collective foundation can be terminated by either side. In the event of a termination, the Company would have an obligation to find alternative pension arrangements for its employees. Because there is no guarantee that the employee pension arrangements would be continued under the same conditions, there is a risk, albeit remote, that a pension obligation may fall on the Company. The pension assets are pooled for all affiliated companies; the investment of assets is done by the governing bodies of the collective foundation or by mandated parties. The risks of disability, death and longevity are reinsured in their entirety with Swiss Life Ltd. The Company recorded $ 0.2 million and $ 0.1 million defined benefit related expense during the three months ended September 30, 2022 and 2021, respectively. The Company recorded $ 0.6 million and $ 0.3 million defined benefit related expense during the nine months ended September 30, 2022 and 2021, respectively. In February 2021, the Company adopted a defined contribution plan intended to qualify under Section 401(k) of the Internal Revenue Code covering all eligible U.S. based employees of the Company. All employees are eligible to become participants of the plan immediately upon hire. Each active employee may elect, voluntarily, to contribute a percentage of their compensation to the plan each year, subject to certain limitations. The Company reserves the right, but is not obligated, to make additional contributions to this plan. The Company makes safe-harbor match contributions of 100 % of the first 4 % of each participant’s eligible compensation. The Company recorded $ 0.1 million and $ 0.1 million matching 401(k) contribution related expense during the three months ended September 30, 2022 and 2021, respectively. The Company recorded $ 0.4 million and $ 0.2 million matching 401(k) contribution related expense during the nine months ended September 30, 2022 and 2021 , respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, and are stated in U.S. dollars. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification and Accounting Standards Updates, or ASUs, of the Financial Accounting Standards Board, or FASB. All intercompany balances and transactions have been eliminated in consolidation.
Initial Public Offering	Initial Public Offering In June 2021 the Company completed its initial public offering, or IPO, and issued an aggregate of 11,700,000 shares of common stock at a price to the public of $ 19.00 per share. The Company received aggregate net proceeds from the IPO of $ 203.6 million, after deducting underwriting discounts and commissions of $ 15.6 million and offering costs of $ 3.1 million. In connection with the IPO, the Company granted the underwriters a 30-day option to purchase an additional 1,755,000 shares. In July 2021, the underwriters exercised the option in full and the Company issued 1,755,000 shares of common stock for aggregate net proceeds of $ 31.0 million after deducting underwriter discounts and commissions of $ 2.3 million. Immediately prior to consummation of the IPO, all outstanding shares of the Company's Series A, Series A-2, Series B and Series C convertible preferred stock were converted into 31,068,102 shares of common stock. The Company's common stock began trading on the Nasdaq Global Select Market on June 24, 2021 under the symbol “GLUE”.
Liquidity Consideration	Liquidity considerations Since inception, the Company has devoted substantially all its efforts to business planning, research and development, recruiting management and technical staff, and raising capital and has financed its operations primarily through the issuance of convertible preferred shares and public offerings of the Company's common stock. The Company’s continued discovery and development of its product candidates will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. As of September 30, 2022, the Company had an accumulated deficit of $ 199.8 million. The Company has incurred losses and negative cash flows from operations since inception, including net losses of $ 77.7 million and $ 50.5 million for the nine months ended September 30, 2022 and 2021, respectively. The Company expects that its operating losses and negative cash flows will continue for the foreseeable future as the Company continues to develop its product candidates. The Company currently expects that its cash, cash equivalents, and marketable securities of $ 272.1 million as of September 30, 2022 will be sufficient to fund operating expenses and capital requirements for at least 12 months from the date the third quarter interim condensed consolidated financial statements are issued. However, additional funding will be necessary to fund future discovery research, pre-clinical and clinical activities. The Company will seek additional funding through public financings, debt financings, collaboration agreements, strategic alliances and licensing arrangements. Although it has been successful in raising capital in the past, there is no assurance that the Company will be successful in obtaining such additional financing on terms acceptable to it, if at all, and the Company may not be able to enter into collaborations or other arrangements. If the Company is unable to obtain funding, it could be forced to delay, reduce or eliminate its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect the Company’s business prospects, even the ability to continue operations.
Unaudited Financial Information	Unaudited Financial Information The Company’s condensed consolidated financial statements included herein have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, and pursuant to the rules and regulations of the SEC. In the Company’s opinion, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair presentation of the financial position and results of operations for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements The Company has elected to use the extended transition period for complying with new or revised accounting standards as available under the Jumpstart Our Business Startups Act (JOBS Act). In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires measurement and recognition of expected credit losses for financial assets. In April 2019, the FASB issued clarification to ASU 2016-13 within ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging , and Topic 825, Financial Instruments , or ASU 2016-13. The guidance is effective for fiscal years beginning after December 15, 2022. The Company is currently assessing the potential impact of adopting ASU 2016-13 on its financial statements and financial statement disclosures. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . ASU 2020-06 will simplify the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (i) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (ii) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. ASU 2020-06 also amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. ASU 2020-06 will be effective for the Company beginning after December 15, 2023. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently assessing the impact adoption of ASU 2020-06 will have on its financial statements and disclosures. Recently adopted accounting pronouncements On January 1, 2022, the Company adopted Accounting Standard Update (“ASU”) No. 2016-02, Leases (Topic 842), and its associated amendments using the modified retrospective transition approach by applying the new standard to all leases existing at the date of initial application and not restating comparative periods. There was no cumulative-effect adjustment recorded to retained earnings upon adoption. Under the standard, a lessee is required to recognize a lease liability and right-of-use (ROU) asset for all leases, unless the lease qualifies for the short-term lease exception. The new guidance also modified the classification criteria and requires additional disclosures to enable users of financial statements to understand the amount, timing, and uncertainty of cash flows arising from leases. Consistent with current guidance, a lessee’s recognition, measurement, and presentation of expenses and cash flows arising from a lease continues to depend primarily on its classification. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward its historical lease classification, its assessment on whether a contract was or contains a lease, and its initial direct costs for any leases that existed prior to January 1, 2022. In addition, the Company elected the following transitional practical expedients: (1) the short-term lease exception and (2) to not separate its non-lease components for its real estate, vehicle and equipment leases. Upon the adoption of this standard, the Company recorded operating lease right-of-use assets of $ 7.3 million and corresponding operating lease liabilities of $ 7.4 million as of January 1, 2022. The difference between the value of the right-of-use assets and lease liabilities is due to the reclassification of existing deferred rent as of January 1, 2022. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, or ASU 2019-12. ASU 2019-12 eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted ASU 2019-12 on January 1, 2022. The adoption of the standard was immaterial to the accompanying condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities Measured On Recurring Basis	The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands): As of September 30, 2022 Level 1 Level 2 Level 3 Total Current assets Money market funds $ 101,157 $ — $ — $ 101,157 Pension plan assets — 3,739 — 3,739 Corporate debt securities — 83,503 — 83,503 U.S Treasury securities — 76,252 — 76,252 Total assets measured at fair value $ 101,157 $ 163,494 $ — $ 264,651

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Marketable securities	Marketable securities as of September 30, 2022 consisted of the following (in thousands) : Amortized Unrealized Unrealized Fair Cost Gains Losses Value Description Corporate debt securities $ 83,917 $ 5 $ ( 419 ) $ 83,503 U.S Treasury securities 76,518 1 ( 267 ) 76,252 Total $ 160,435 $ 6 $ ( 686 ) $ 159,755

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net, consist of the following (in thousands): September 30, December 31, Laboratory equipment $ 16,914 $ 12,315 Computer hardware and software 491 299 Furniture and fixtures 299 443 Leasehold improvements 1,368 1,119 Construction in process 5,492 852 Total property and equipment, at cost $ 24,564 $ 15,028 Less: accumulated depreciation ( 5,180 ) ( 2,703 ) Property and equipment, net $ 19,384 $ 12,325

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Summary of Lease Expense	The components of lease expense for the nine months ended September 30, 2022 are as follows (in thousands): Nine months ended September 30, 2022 Operating lease expense $ 4,857 Variable lease expense 1,128 Total lease expense $ 5,985
Schedule of Lease Terms and Discount Rate	The weighted average remaining lease term and discount rate related to the Company's leases are as follows: September 30, 2022 Weighted average remaining lease term (years) 9.9 Weighted average discount rate 9.8 %
Schedule Of Supplemental Cash Flow Information Related To Leases	Supplemental cash flow information relating to the Company's leases for the nine months ended September 30, 2022 are as follows (in thousands): Nine months ended September 30, 2022 Right-of-use assets obtained in exchange for operating lease obligations $ 48,488 Cash paid for amounts included in the measurement of lease liabilities $ 1,181
Schedule of Future Minimum Payments Under Non -cancelable Operating Leases	Future minimum lease payments under non-cancelable leases as of September 30, 2022 for each of the years ending December 31 are as follows (in thousands): Undiscounted lease payments Remaining 2022 $ 1,023 2023 7,373 2024 6,788 2025 6,983 2026 6,867 Thereafter 44,360 Total undiscounted minimum lease payments 73,394 Less: Imputed interest ( 27,736 ) Total operating lease liability $ 45,658
Schedule of Future Minimum Rental Payments for Operating Leases under non-cancelable	The future minimum lease payments under non-cancelable operating leases as of December 31, 2021 were as follows: 2022 $ 3,160 2023 8,353 2024 8,583 2025 8,820 2026 7,298 Thereafter 44,360 Total future minimum lease payments $ 80,574

Common stock (Tables)

Common stock (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Common Stock Reserved for Potential Conversion of Outstanding Preferred Stock, Vesting of Restricted Stock and Exercise of Stock Options	As of September 30, 2022, and December 31, 2021, the Company has reserved the following shares of common stock for the vesting of restricted stock and exercise of stock options: September 30, December 31, Options to purchase common stock 7,207,043 5,563,513 Unvested restricted common stock awards 155,466 258,329 Unvested restricted common stock units 91,000 — 7,453,509 5,821,842

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following summarizes stock option activity: Number of Weighted Weighted Aggregate Outstanding—December 31, 2021 5,563,513 $ 7.92 9.2 $ 70,045 Granted 1,954,775 12.76 — — Exercised ( 95,726 ) 3.42 — — Forfeited ( 215,519 ) 12.41 — — Outstanding—September 30, 2022 7,207,043 $ 9.16 8.7 $ 14,897 Exercisable—September 30, 2022 2,033,754 $ 7.04 8.4 $ 6,378
Schedule of Restricted Stock Award Activity	The following summarizes restricted stock award activity: Number Weighted Unvested as of December 31, 2021 258,329 $ 0.90 Vested ( 102,863 ) $ 0.77 Unvested as of September 30, 2022 155,466 $ 0.98
Schedule of Restricted Stock Unit Activity	The following summarizes restricted stock unit activity: Number Weighted Unvested as of December 31, 2021 — $ — Granted 91,000 $ 10.11 Unvested as of September 30, 2022 91,000 $ 10.11
Schedule of Stock Based Compensation Expense	Stock-based compensation expense is classified as follows (in thousands): Nine months ended 2022 2021 Research and development $ 4,289 $ 1,559 General and administrative 4,049 1,785 Total stock-based compensation expense $ 8,338 $ 3,344

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted net loss per share attributable to common stockholders is calculated as follows (in thousands except share and per share amounts): Three months ended Nine months ended 2022 2021 2022 2021 Net loss $ ( 27,318 ) $ ( 19,837 ) $ ( 77,719 ) $ ( 50,518 ) Net loss per share attributable to common stockholders—basic and diluted $ ( 0.58 ) $ ( 0.43 ) $ ( 1.67 ) $ ( 2.85 ) Weighted-average number of common shares used in computing net loss 46,732,353 45,987,866 46,666,000 17,751,410
Schedule of Antidilutive Securities Excluded from Earnings Per Share Calculation	The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per common share, as their effect is anti-dilutive: September 30, September 30, 2022 2021 Stock options to purchase common stock 7,207,043 5,566,421 Restricted common stock 155,466 296,929 Restricted stock units 91,000 —

Description of Business, Cont_2

Description of Business, Contribution and Exchange, and Liquidity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended						9 Months Ended
	Jul. 23, 2021	Jun. 17, 2021	Jun. 30, 2021	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Subsidiary Or Equity Method Investee [Line Items]
Common stock shares issued				48,528,247						48,528,247		46,794,295
Common stock par or stated value per share				$ 0.0001						$ 0.0001		$ 0.0001
Proceeds from issuance of common stock										$ 13,507	$ 0
Proceeds from initial public offering, net of underwriting discount										$ 0	237,750
Stockholders' equity, reverse stock split		one-for-3.5305								The Company’s board of directors approved a one-for-3.5305 reverse stock split of its issued and outstanding common stock and stock options and a proportional adjustment to the existing conversion ratios for the Company’s preferred stock effective as of June 17, 2021
Restricted Cash and Cash Equivalents				$ 272,100						$ 272,100
Retained earnings accumulated deficit				199,754						199,754		$ 122,035
Net loss				(27,318)	$ (26,469)	$ (23,932)	$ (19,837)	$ (18,405)	$ (12,276)	(77,719)	(50,518)
Cash and cash equivalents at carrying value				$ 112,394			$ 367,034			$ 112,394	$ 367,034	$ 346,071
Common Stock
Subsidiary Or Equity Method Investee [Line Items]
Stock Issued during period, for conversion of convertible securities			31,068,102
IPO
Subsidiary Or Equity Method Investee [Line Items]
Common stock shares issued	1,755,000		11,700,000					11,700,000
Common stock par or stated value per share				$ 19						$ 19
Proceeds from issuance of common stock	$ 31,000
Proceeds from initial public offering, net of underwriting discount										$ 203,600
Underwriting discount and commission	$ 2,300									15,600
Offering Costs										$ 3,100

Summary of significant accoun_3

Summary of significant accounting policies (Additional Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Operating lease right-of-use assets	$ 38,534	$ 7,300	$ 0
Operating lease liability		$ 7,400

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Liabilities Measured on Recurring Basis (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Current assets
Total assets measured at fair value	$ 264,651
Level 1
Current assets
Total assets measured at fair value	101,157
Level 2
Current assets
Total assets measured at fair value	163,494
Level 3
Current assets
Total assets measured at fair value	0
Corporate Debt Securities
Current assets
Total assets measured at fair value	83,503
Corporate Debt Securities | Level 1
Current assets
Total assets measured at fair value	0
Corporate Debt Securities | Level 2
Current assets
Total assets measured at fair value	83,503
Corporate Debt Securities | Level 3
Current assets
Total assets measured at fair value
US Treasury Securities
Current assets
Total assets measured at fair value	76,252
US Treasury Securities | Level 1
Current assets
Total assets measured at fair value	0
US Treasury Securities | Level 2
Current assets
Total assets measured at fair value	76,252
US Treasury Securities | Level 3
Current assets
Total assets measured at fair value
Money Market Funds
Current assets
Total assets measured at fair value	101,157
Money Market Funds | Level 1
Current assets
Total assets measured at fair value	101,157
Money Market Funds | Level 2
Current assets
Total assets measured at fair value	0
Money Market Funds | Level 3
Current assets
Total assets measured at fair value	0
Pension Plan Assets
Current assets
Total assets measured at fair value	3,739
Pension Plan Assets | Level 1
Current assets
Total assets measured at fair value	0
Pension Plan Assets | Level 2
Current assets
Total assets measured at fair value	3,739
Pension Plan Assets | Level 3
Current assets
Total assets measured at fair value	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Measure at fair value, transfers among Level 1, Level 2 or Level 3	$ 0	$ 0

Marketable Securities (Addition

Marketable Securities (Additional Information) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) Security
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-Sale, Unrealized Loss Position | $	$ 118.1
Number of marketable securities held | Security	27

Marketable Securities - Summary

Marketable Securities - Summary of Marketable securities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Marketable Securities [Line Items]
Amortized Cost	$ 160,435
Unrealized Gains	6
Unrealized Losses	(686)
Fair Value	159,755
Corporate Debt Securities
Marketable Securities [Line Items]
Amortized Cost	83,917
Unrealized Gains	5
Unrealized Losses	(419)
Fair Value	83,503
US Treasury Securities
Marketable Securities [Line Items]
Amortized Cost	76,518
Unrealized Gains	1
Unrealized Losses	(267)
Fair Value	$ 76,252

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Total property and equipment, at cost	$ 24,564	$ 15,028
Less: accumulated depreciation	(5,180)	(2,703)
Property and equipment, net	19,384	12,325
Laboratory Equipment
Property Plant And Equipment [Line Items]
Total property and equipment, at cost	16,914	12,315
Computer Hardware and Software
Property Plant And Equipment [Line Items]
Total property and equipment, at cost	491	299
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment, at cost	299	443
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment, at cost	1,368	1,119
Construction in process
Property Plant And Equipment [Line Items]
Total property and equipment, at cost	$ 5,492	$ 852

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 1,100	$ 600	$ 2,675	$ 1,323

Leases (Additional Information)

Leases (Additional Information) (Details)		9 Months Ended
	Dec. 14, 2021 USD ($) ft²	Sep. 30, 2022 USD ($)	Jan. 01, 2021 ft²	Jan. 01, 2020 ft²
Lessee, Lease, Description [Line Items]
Finance Lease		$ 0
Short-Term Lease		0
Amortization of the ROU assets		$ 2,400,000
Lease expiration date		Mar. 31, 2026
Tenant improvements		$ 13,000,000
Receivable in Tenant Improvements		$ 3,900,000
645 Summer Street [Member]
Lessee, Lease, Description [Line Items]
Land Subject to Ground Leases | ft²				16,748
Lease expiration date		Jun. 01, 2023
Operating Lease Lability And Right of Use Asset		$ 3,700,000
Right of Use Assets Decreased Limit, Amount		1,300,000
Operating Lease Liabilities Decreased Limit, Amount		1,400,000
Reclassified Lease Amount		$ 1,000,000
Hochbergerstrasse [Member]
Lessee, Lease, Description [Line Items]
Land Subject to Ground Leases | ft²			21,422
Harrison Street [Member]
Lessee, Lease, Description [Line Items]
Land Subject to Ground Leases | ft²	63,327
Lease commencement date	Apr. 01, 2022
Initial lease term	128 months
Renewal term	5 years
Lease annual base rent per square foot	$ 95
Increase in annual base rent (Percentage)	3%

Leases - Summary of Lease Expen

Leases - Summary of Lease Expense (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Operating lease expense	$ 4,857
Variable lease expense	1,128
Total lease expense	$ 5,985

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rate (Details)	Sep. 30, 2022
Leases [Abstract]
Weighted average remaining lease term (years)	9 years 10 months 24 days
Weighted average discount rate	9.80%

Leases - Schedule Of Supplement

Leases - Schedule Of Supplemental Cash Flow Information Related To Leases (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Right-of-use assets obtained in exchange for operating lease obligations	$ 48,488
Cash paid for amounts included in the measurement of lease liabilities	$ 1,181

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments Under Non -cancelable Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 01, 2022
Finite-Lived Intangible Assets [Line Items]
Total operating lease liability		$ 7,400
Non-cancelable leases [Member]
Finite-Lived Intangible Assets [Line Items]
Remaining 2022	$ 1,023
2023	7,373
2024	6,788
2025	6,983
2026	6,867
Thereafter	44,360
Total undiscounted minimum lease payments	73,394
Less: Imputed interest	(27,736)
Total operating lease liability	$ 45,658

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Rental Payments for Operating Leases under non-cancelable (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 3,160
2023	8,353
2024	8,583
2025	8,820
2026	7,298
Thereafter	44,360
Total future minimum lease payments	$ 80,574

Convertible Preferred Stock - A

Convertible Preferred Stock - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Class Of Stock [Line Items]
Payments of stock issuance costs	$ 0	$ 231

Common stock (Additional Inform

Common stock (Additional Information) (Details)		3 Months Ended	9 Months Ended
	Jun. 17, 2021	Sep. 30, 2022 USD ($) shares	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 shares
Class of Stock [Line Items]
Common stock, shares authorized | shares		500,000,000	500,000,000	500,000,000
Common stock shares issued | shares		48,528,247	48,528,247	46,794,295
Stock Split Conversion Ratio	1
Common stock shares outstanding | shares		48,372,781	48,372,781	46,535,966
Dividends declared		$ 0	$ 0
Dividends paid			$ 0
Common stock, voting rights			one
Aggregate net proceeds		$ 13,211,000
Restricted common stock
Class of Stock [Line Items]
Vesting term			4 years
ATM [Member]
Class of Stock [Line Items]
Common stock shares issued | $ / shares			$ 1,638,226
Aggregate gross proceeds			$ 13,900,000
Aggregate net proceeds			$ 13,200,000

Common stock - Schedule of Comm

Common stock - Schedule of Common Stock for Potential Conversion Outstanding Preferred Stock (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock reserved for future issuance	7,453,509	5,821,842
Options to Purchase Common Stock
Class Of Stock [Line Items]
Common stock reserved for future issuance	7,207,043	5,563,513
Unvested restricted common stock awards
Class Of Stock [Line Items]
Common stock reserved for future issuance	155,466	258,329
Unvested restricted common stock units
Class Of Stock [Line Items]
Common stock reserved for future issuance	91,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jan. 01, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,453,509			5,821,842
Common stock, shares, issued	48,528,247			46,794,295
Aggregate fair value of restricted stock vested	$ 1.2	$ 0.2
Restricted common stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value, vested	$ 0.77
Unrecognized stock based compensation cost	$ 0.2
Unrecognized stock based compensation cost, units	$ 0.8
Expected remaining cost, weighted average period	1 year 2 months 12 days
Expected remaining cost, weighted average period, units	1 year 9 months 18 days
Weighted average grant date fair value, Granted	$ 10.11
Unvested Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock based compensation cost	$ 32.6
Expected remaining cost, weighted average period	2 years 8 months 12 days
2021 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance			4,903,145
Increase in share percentage	5%
Shares Issued	4,055,464			3,658,193
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	439,849
Increase in share percentage	1%
Number of share increase	439,849
Shares Issued	879,698
Common stock, shares, issued				439,849

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of options, beginning balance | shares	5,563,513
Number of options, granted | shares	1,954,775
Number of options, exercised | shares	(95,726)
Number of options, forfeited | shares	(215,519)
Number of options, ending balance | shares	7,207,043	5,563,513
Number of options, exercisable | shares	2,033,754
Weighted average exercise price, beginning balance | $ / shares	$ 7.92
Weighted average exercise price, granted | $ / shares	12.76
Weighted average exercise price, exercised | $ / shares	3.42
Weighted average exercise price, forfeited | $ / shares	12.41
Weighted average exercise price, ending balance | $ / shares	9.16	$ 7.92
Weighted average exercise price, exercisable | $ / shares	$ 7.04
Weighted average remaining contractual term (years), balance	8 years 8 months 12 days	9 years 2 months 12 days
Weighted average remaining contractual term (years), exercisable	8 years 4 months 24 days
Aggregate intrinsic value, beginning balance | $	$ 70,045
Aggregate intrinsic value, ending balance | $	14,897	$ 70,045
Aggregate intrinsic value, exercisable | $	$ 6,378

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Restricted Stock Award Activity (Details) - Restricted common stock	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Unvested, beginning balance | shares	258,329
Number of shares, Vested | shares	(102,863)
Number of shares, Unvested, ending balance | shares	155,466
Weighted average grant date fair value, beginning balance | $ / shares	$ 0.90
Weighted average grant date fair value, vested | $ / shares	0.77
Weighted average grant date fair value, ending balance | $ / shares	$ 0.98

Stock-based compensation - Sc_3

Stock-based compensation - Schedule of Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Restricted common stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Unvested, beginning balance | shares	258,329
Number of shares, Unvested, ending balance | shares	155,466
Weighted average grant date fair value, beginning balance	$ 0.90
Weighted average grant date fair value, Granted	10.11
Weighted average grant date fair value, ending balance	$ 0.98
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Granted | shares	91,000
Number of shares, Unvested, ending balance | shares	91,000
Weighted average grant date fair value, Granted	$ 10.11
Weighted average grant date fair value, ending balance	$ 10.11

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 8,338	$ 3,344
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	4,289	1,559
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,049	$ 1,785

Income taxes - Additional Infor

Income taxes - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Provision or benefit for income tax	$ 0	$ 0

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (27,318)	$ (26,469)	$ (23,932)	$ (19,837)	$ (18,405)	$ (12,276)	$ (77,719)	$ (50,518)
Net loss per share attributable to common stockholders-basic	$ (0.58)			$ (0.43)			$ (1.67)	$ (2.85)
Net loss per share attributable to common stockholders-diluted	$ (0.58)			$ (0.43)			$ (1.67)	$ (2.85)
Weighted-average number of common shares used in computing net loss per share-basic	46,732,353			45,987,866			46,666,000	17,751,410
Weighted-average number of common shares used in computing net loss per share-diluted	46,732,353			45,987,866			46,666,000	17,751,410

Net Loss Per Share (Schedule _2

Net Loss Per Share (Schedule of Anti-Dilutive Shares Excluded from Earnings Per Share Calculation) (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	7,207,043	5,566,421
Restricted common stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	155,466	296,929
Restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	91,000

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Research and development	$ 21,342	$ 15,115	$ 60,193	$ 39,025
General and administrative expense	$ 7,020	4,753	$ 19,702	10,470
Ridgeline
Related Party Transaction [Line Items]
Research and development		$ 500		$ 7,800

Employee Retirement Plan - Addi

Employee Retirement Plan - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Defined benefit plan expenses	$ 0.2	$ 0.1	$ 0.6	$ 0.3
Percentage of company's matching contribution with respect to each participant's contribution			4%
Company matching contributions to maximum employees eligible compensation			100%
Total company contributions to 401 (k) plan	$ 0.1	$ 0.1	$ 0.4	$ 0.2