Akili (AKLI) 10-Q 12 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	Akili, Inc.
Entity Central Index Key	0001850266
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		78,156,468
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-40558
Entity Tax Identification Number	92-3654772
Entity Address, Address Line One	125 Broad Street
Entity Address, Address Line Two	Fifth Floor
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	617
Local Phone Number	456-0597
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	AKLI
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 87,869	$ 54,097
Restricted cash	305	305
Short-term investments	29,571	82,034
Accounts receivable	49	41
Prepaid expenses and other current assets	3,531	4,565
Total current assets	121,325	141,042
Property and equipment, net	844	919
Operating lease right-of-use asset	2,427	2,596
Prepaid expenses and other long-term assets	1
Total assets	124,597	144,557
Current liabilities:
Accounts payable	1,413	2,681
Accrued expenses and other current liabilities	2,828	5,616
Deferred revenue	120	106
Operating lease liability	809	826
Note payable, short term	6,250	4,375
Total current liabilities	11,420	13,604
Note payable, long term	8,706	10,442
Operating lease liability, net of current portion	2,307	2,485
Corporate bond, net of bond discount	1,888	1,834
Earn-out liabilities	7,836	5,513
Total liabilities	32,157	33,878
Commitments and contingencies
Stockholders' equity
Common stock, $0.0001 par value: 1,000,000,000 shares authorized; 78,117,798 and 78,022,924 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	8	8
Additional paid-in capital	353,429	350,980
Accumulated deficit	(260,999)	(240,288)
Accumulated other comprehensive income (loss)	2	(21)
Total stockholders' equity	92,440	110,679
Total liabilities and stockholders' equity	$ 124,597	$ 144,557

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	78,117,798	78,022,924
Common stock, shares outstanding	78,117,798	78,022,924

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenues	$ 113	$ 66
Cost of revenues	137	96
Gross loss	(24)	(30)
Operating expenses:
Research and development	6,084	6,304
Selling, general and administrative	13,011	15,391
Total operating expenses	19,095	21,695
Operating loss	(19,119)	(21,725)
Other income (expense):
Other income	1,043	9
Interest expense	(622)	(176)
Change in estimated fair value of earn-out liabilities	(2,013)
Total other income (expense)	(1,592)	(167)
Loss before income taxes	(20,711)	(21,892)
Income tax expense	0	0
Net loss	(20,711)	(21,892)
Unrealized gain (loss) on short-term investments	23	(6)
Comprehensive loss	(20,688)	(21,898)
Net loss	(20,711)	(21,892)
Dividends on Series D convertible preferred stock		(2,877)
Redemption value of Series D convertible preferred stock		(1,438)
Net loss attributable to common stockholders - basic	$ (20,711)	$ (26,207)
Net loss per share attributable to common stockholders - basic	$ (0.27)	$ (15.60)
Net loss per share attributable to common stockholders - diluted	$ (0.27)	$ (15.60)
Weighted average common shares outstanding, Basic	78,079,013	1,680,164
Weighted average common shares outstanding, Diluted	78,079,013	1,680,164

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Deficit (unaudited) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2021	$ (226,114)				$ (226,114)
Temporary Equity, Beginning Balance, Shares at Dec. 31, 2021		43,318,218
Temporary Equity, Beginning Balance at Dec. 31, 2021		$ 291,876
Beginning Balance, Shares at Dec. 31, 2021			1,674,106
Stock-based compensation expense	2,070			$ 2,070
Exercise of stock options	64			64
Exercise of stock options, Shares			17,268
Stock dividend accrued for Series D preferred stock	(2,877)			(2,134)	(743)
Stock dividend accrued for Series D preferred stock, Temporary Equity		2,877
Redemption value of Series D preferred stock	(1,438)				(1,438)
Redemption value of Series D preferred stock, Temporary Equity		$ 1,438
Other comprehensive gain (loss)	(6)					$ (6)
Net loss	(21,892)				(21,892)
Ending Balance at Mar. 31, 2022	(250,193)				(250,187)	(6)
Temporary Equity, Ending Balance, Shares at Mar. 31, 2022		43,318,218
Temporary Equity, Ending Balance at Mar. 31, 2022		$ 296,191
Ending Balance, Shares at Mar. 31, 2022			1,691,374
Beginning Balance at Dec. 31, 2022	110,679		$ 8	350,980	(240,288)	(21)
Beginning Balance, Shares at Dec. 31, 2022			78,022,924
Vesting of RSUs			78,161
Stock-based compensation expense	$ 2,449			2,449
Exercise of stock options, Shares	17,267		16,713
Other comprehensive gain (loss)	$ 23					23
Net loss	(20,711)				(20,711)
Ending Balance at Mar. 31, 2023	$ 92,440		$ 8	$ 353,429	$ (260,999)	$ 2
Ending Balance, Shares at Mar. 31, 2023			78,117,798

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (20,711)	$ (21,892)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	77	77
Reduction in the carrying amount of right-of-use assets	169	118
Stock-based compensation expense	2,759	2,070
Amortization of premium on short-term investments	(432)	(5)
Non Cash Interest Expense	194	88
Change in fair value of earn-out liabilities	2,013
Changes in operating assets and liabilities:
Accounts receivable	(8)	(4)
Prepaid expenses and other current assets	1,079	(1,754)
Prepaid expenses and other long-term assets	(1)	6
Accounts payable	(1,268)	896
Accrued expenses and other current liabilities	(2,788)	(1,708)
Deferred rent and other long term liabilities		(7)
Operating lease liabilities	(195)	(137)
Deferred revenue	14	27
Net cash used in operating activities	(19,098)	(22,225)
Cash flows from investing activities:
Acquisition of property and equipment	(3)	(10)
Purchases of short-term investments	(22,082)	(14,974)
Proceeds from maturities of short-term investments	75,000
Net cash provided by (used in) investing activities	52,915	(14,984)
Cash flows from financing activities:
Proceeds from exercise of stock options		64
Taxes paid related to net share settlement of share-based awards	(45)
Net cash provided by (used in) financing activities	(45)	64
Net increase (decrease) in cash, cash equivalents, and restricted cash	33,772	(37,145)
Cash, cash equivalents, and restricted cash at beginning of period	54,402	77,204
Cash, cash equivalents, and restricted cash at end of period	88,174	40,059
Supplementary Information:
Cash paid for interest	$ 422	88
Noncash investing and financing activities:
Redemption value of Series D preferred stock		1,438
Dividends accrued for Series D preferred stock		$ 2,877

Nature of the Business and Basi

Nature of the Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	1. Nature of the Busin ess and Basis of Presentation Organization Akili, Inc. (collectively referred to with its wholly-owned, controlled subsidiaries, as “Akili” or the “Company”) operates as one business segment and is a leading digital medicine company, pioneering the development of cognitive treatments through game-changing technologies. Akili’s approach of developing and commercializing technologies designed to directly target the physiology of the brain has established a new category of medicine—medicine that is validated through clinical trials like a drug or medical device, but experienced like entertainment. In June 2020, EndeavorRx, the first product built on Akili’s platform was granted marketing authorization and classified as a Class II medical device by the FDA through FDA’s de novo process. EndeavorRx is indicated for use to improve attention function for children ages 8-12 with primarily inattentive or combined-type ADHD, who have a demonstrated attention issue. Akili has a pipeline that will be reprioritized in connection with capital raising and business development activities as the Company focuses its efforts primarily on commercialization of EndeavorRx in ADHD and seeking an expanded label in patients with ADHD. The Company is headquartered in Boston, Massachusetts. On August 19, 2022, (the “Closing Date”), Social Capital Suvretta Holdings Corp. I (“SCS”) consummated the previously announced merger pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated January 26, 2022, by and among SCS, Akili Interactive Labs, Inc. and Karibu Merger Sub, Inc., pursuant to which Karibu Merger Sub, Inc. merged with and into Akili Interactive Labs, Inc., with Akili Interactive Labs, Inc. becoming a wholly owned subsidiary of SCS (the “Business Combination”). Upon the closing of the Business Combination (the “Closing”), SCS changed its name to Akili, Inc. In connection with the Business Combination, SCS completed the sale and issuance of 16,200,000 shares of Akili, Inc. common stock, $ 0.0001 par value per share (the “Common Stock”) in a private placement transaction for a purchase price of $ 10.00 per share for $ 162,000 in the aggregate (the “PIPE Investment”). Gross proceeds from the Merger totaled approximately $ 164,283 which included funds held in SCS’s trust account (after giving effect to redemptions). In connection with the Business Combination, approximately $ 31,438 of transaction costs and other fees were incurred. References to SCS refer to the Company prior to the consummation of the Business Combination and references to “Legacy Akili” refer to Akili Interactive Labs, Inc. (now a wholly-owned subsidiary of Akili, Inc.) prior to the consummation of the Business Combination. Legacy Akili was deemed the accounting acquirer in the Business Combination. This determination was primarily based on Legacy Akili’s stockholders prior to the Business Combination having a majority of the voting power in the combined company, Legacy Akili having the ability to appoint a majority of the board of directors of the combined company (the “Board”), Legacy Akili’s existing management comprising the senior management of the combined company, Legacy Akili comprising the ongoing operations of the combined company, Legacy Akili being the larger entity based on historical revenues and business operations, and the combined company assuming Legacy Akili’s name. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Akili issuing stock for the net assets of SCS, accompanied by a recapitalization. Under this method of accounting, SCS who was the legal acquirer, is treated as the “acquired” company for financial reporting purposes. The net assets of SCS are stated at historical cost, with no goodwill or other intangible assets recorded. The equity structure has been restated in all comparative periods up to the Closing Date to reflect the number of shares of the Company’s Common Stock, $ 0.0001 par value per share, issued to Legacy Akili stockholders in connection with the Business Combination. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Akili’s convertible preferred stock (“Legacy Convertible Preferred Stock”) and Legacy Akili common stock prior to the Business Combination have been retroactively restated as shares reflecting the exchange ratio of approximately 1.15 pursuant to the terms of the Business Combination. Legacy Convertible Preferred Stock previously classified as mezzanine was retroactively adjusted, converted into Common Stock, and reclassified to permanent as a result of the reverse recapitalization. Akili, Inc. (formerly SCS) is a Delaware corporation incorporated on December 1, 2020. Akili Interactive Labs, Inc. is a Delaware corporation incorporated on December 1, 2011. Going Concern The Company is subject to risks common to companies in the biotechnology industry including, but not limited to, new technological innovations, protection of proprietary technology, dependence on key personnel, compliance with government regulations and the need to obtain additional financing. The Company requires a significant amount of capital to fund its current operating requirements as it pursues its strategic growth goals. The Company is making investments in its commercialization efforts, such as sales and marketing initiatives, to drive awareness, adoption and coverage for EndeavorRx. Most of the Company’s product candidates are still in development. There can be no assurance that the Company’s research and development will be successfully completed; that adequate protection for the Company’s intellectual property will be obtained; that any products developed will obtain necessary government regulatory approval; or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid change in technology and substantial competition from pharmaceutical and biotechnology companies. In addition, the Company is dependent upon the services of its employees and consultants. The Company’s condensed consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities in the ordinary course of business. The Company has experienced negative operating cash flows for the three months ended March 31, 2023 and had an accumulated deficit of $ 260,999 at March 31, 2023. The Company believes that its cash and cash equivalents and short-term investments at March 31, 2023 of $ 117,440 , will be sufficient to fund the Company’s planned operations and existing obligations for at least one year after the date that the condensed consolidated financial statements are issued. The future viability of the Company is dependent on its ability to generate cash from operating activities or to raise additional capital to finance its operations. The Company’s failure to raise capital when needed, or on terms favorable to the Company, could have a negative impact on its financial condition and ability to pursue its business strategies. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, after elimination of all intercompany accounts and transactions. As permitted for interim reporting, certain footnotes or other financial information that are normally required by U.S. GAAP may be condensed or omitted, unless otherwise required by U.S. GAAP or Securities and Exchange Commission (“SEC”) rules and regulations. These condensed consolidated financial statements were prepared on the same basis as and should be read in conjunction with the Company’s annual consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”). In the opinion of management, all adjustments of a normal recurring nature, considered necessary for fair presentation, have been included in these condensed consolidated financial statements. The results of operations for the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any other interim period or future year. The condensed consolidated balance sheet as of December 31, 2022 was derived from the audited annual consolidated financial statements but does not include all information required by U.S. GAAP for annual consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2022, included in the Annual Report. There have been no material changes to the significant accounting policies during the three months ended March 31, 2023. Earn-Out Liabilities: In connection with the Business Combination, holders of Legacy Akili common stock, Legacy Convertible Preferred Stock and warrants to purchase shares of Legacy Akili common stock (“Earn-Out Shareholders”) and employees or individual service providers holding options to purchase shares of Legacy Akili common stock, in each case as designated by the Board of Akili as an earn-out service provider prior to the Closing Date (“Earn-Out Service Providers”) received the contingent right to receive additional Common Stock upon the achievement of certain earn-out targets (the “Rights”). The Company concluded the issuance of Rights to Earn-Out Shareholders constitutes a deemed dividend and evaluated the Rights for classification under guidance applicable to financial instruments. In assessing classification, the Company considered ASC Subtopic 815-40 “ Contracts in Entity’s Own Equity ” and determined the Rights contain settlement provisions that preclude them from being indexed to the Company’s stock and accordingly liability classification is required. The Company concluded issuance of the Rights to Earn-Out Service Providers represents compensation in scope of ASC Topic 718, “ Compensation - Stock Compensation. ” In considering relevant classification guidance, the Company determined the Rights issued to Earn-Out Service Providers are liabilities because they are indexed to whether such Earn-Out Service Providers hold qualifying equity instruments when the earn-out targets are achieved. The fair value of the contingent earn-out consideration is estimated as of the Closing Date at the present value of the expected contingent earn-out consideration using a Monte Carlo Simulation Method (“MCSM”). The Company reviews the probability of achievement of the earn-out targets to determine the impact on the fair value of the earn-out consideration on a quarterly basis over the earn-out period. For Earn-Out Shareholders, the corresponding fair value was initially recorded against additional paid-in capital. Changes in the estimated fair value of the contingent earn-out consideration related to Earn-Out Shareholders are recorded in other income (expense) in the Consolidated Statements of Operations and Comprehensive Loss and are reflected in the period in which they are identified. For Earn-Out Service Providers, the corresponding fair value was initially recorded within operating expenses in the same functional category as the grantees' operating expenses. Changes in the estimated fair value of contingent earn-out consideration related to Earn-Out Service Providers is recorded as stock compensation for the period. Changes in the estimated fair value of the contingent earn-out consideration may materially impact or cause volatility in the Company's operating results. Revenue: Product revenue was $ 113 and $ 66 for the three months ended March 31, 2023 and 2022, respectively. There was no collaboration revenue in either period. As of March 31, 2023, the Company has a contract liability related to product revenue, which consists of amounts that have been paid but have not been recognized as revenue. All amounts are expected to be recognized as revenue within 12 months of the balance sheet date and are classified as current deferred revenue. The Company recognized $ 49 of product revenue in the three months ended March 31, 2023 that was previously included in the December 31, 2022 deferred revenue balance. Contract Liabilities Product Balance at December 31, 2022 $ 106 Revenue recognized ( 113 ) Revenue deferred 127 Balance at March 31, 2023 $ 120 Concentration of credit risk: On March 10, 2023, Silicon Valley Bank (“SVB”) was closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver. On March 13, 2023, pursuant to a joint statement released by the U.S. Department of Treasury, the U.S. Federal Reserve, and the FDIC, the U.S. government provided assurance that all depositors would be fully protected. Thereafter, the FDIC transferred all deposits of SVB to a newly created bridge bank, named Silicon Valley Bridge Bank, N.A. (“SVBB”), which announced that it would fully honor existing credit facilities. On March 27, 2023, First Citizens BancShares, Inc. entered into an agreement with the FDIC to purchase all assets and liabilities of SVBB and confirmed it would honor existing credit facilities. The Amended and Restated Loan and Security Agreement with SVB required an exclusive relationship for our operating cash account, however in light of the events and status of SVB, we entered into an agreement in April 2023 which allows the Company to establish operating accounts and move an additional portion of our cash resources to other financial institutions. Recently adopted accounting pronouncements: In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), as amended by ASU 2019-10. ASU 2016-13 will change how companies account for credit losses for most financial assets and certain other instruments. For trade receivables, loans and held-to-maturity debt securities, companies will be required to recognize an allowance for credit losses rather than reducing the carrying value of the asset. ASU 2016-13 is effective for the Company for the annual reporting period beginning January 1, 2023. The Company adopted this guidance for the three months ending March 31, 2023, however there was no impact to the financial statements.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2023
Payables And Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	3. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: March 31, December 31, Accrued bonus $ 736 $ 2,819 Accrued royalties 113 110 Accrued wages and benefits 899 1,281 Accrued clinical study expenses 269 292 Accrued consulting service expenses 216 401 Other accrued expenses 595 713 Total $ 2,828 $ 5,616

Corporate Bond

Corporate Bond	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Corporate Bond	4. Corporate Bond In March 2019, in connection with Shionogi & Co., Ltd exercising its option to enter into a collaboration agreement with the Company, the Company issued a $ 5,000 corporate bond to Shionogi for cash (the “Corporate Bond”). The Corporate Bond is unsecured and is subordinated to the obligations of the Company under indebtedness for borrowed money owed by the Company to any bank or other financial institution. The Company recognized amortization expense of $ 54 and $ 48 related to the discount on the Corporate Bond as a component of interest expense in the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2023 and 2022, respectively. The carrying amount of the corporate bond is as follows: March 31, December 31, Corporate Bond $ 5,000 $ 5,000 Unamortized discount on Corporate Bond ( 3,112 ) ( 3,166 ) Corporate Bond, net of discount $ 1,888 $ 1,834

Note Payable

Note Payable	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Note Payable	. Note Payable Amended and Restated Loan and Security Agreement As described in Note 2, First Citizens BancShares, Inc. entered into an agreement to purchase all assets and liabilities of SVBB and will fully honor the existing Amended and Restated Loan and Security Agreement. At March 31, 2023 , the Company had outstanding principal of $ 15,000 and there is no remaining available undrawn debt. The Company recognized non-cash interest expense related to debt issuance costs of $ 139 and $ 40 for the three months ended March 31, 2023 and 2022 , respectively. The Company recognized selling, general and administrative expense related to loan commitment fees of $ 42 and $ 57 for the three months ended March 31, 2023 and 2022, respectively. The interest rate in effect was 11.8 % and 7.25 % as of March 31, 2023 and March 31, 2022 , respectively. At March 31, 2023 , the carrying amount of the note payable (excluding the current portion of $ 6,250 ) is as follows: Outstanding principal $ 15,000 Note payable, short term ( 6,250 ) Final payment 750 Unamortized debt issuance costs ( 794 ) Note payable, long term (net of debt issuance costs) $ 8,706 Future minimum principal payments due under the Amended and Restated Loan and Security Agreement, excluding the final payment of $ 750 due at maturity, prepayment or termination, are as follows: Years Ending December 31, Remainder of 2023 4,375 2024 7,500 2025 3,125 Total $ 15,000

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stock-Based Compensation	6. Stock-Based Compensation 2022 Stock Option and Incentive Plan: Share-based compensation expense related to stock options, RSUs, PSUs, and the expense related to Earn-Out Service Providers, is classified in the condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended 2023 2022 Research and development $ 879 $ 609 Selling, general and administrative 1,880 1,461 Total $ 2,759 $ 2,070 Included in the three months ended March 31, 2023 balances in the table above is $ 310 of stock-based compensation related to the potential issuance of the Earn-Out Shares to Earn-Out Service Providers. Stock Options: The following is a summary of stock option activity for the three months ended March 31, 2023 : Number of Weighted- Weighted- Aggregate Balance at December 31, 2022 12,190,970 $ 3.98 7.36 Granted 1,783,600 $ 1.56 Cancelled ( 1,183,454 ) $ 3.96 Exercised ( 17,267 ) $ 0.05 Balance at March 31, 2023 12,773,849 $ 3.63 7.48 $ 598 Exercisable March 31, 2023 6,707,365 $ 3.67 5.77 $ 526 Options vested and expected to vest, March 31, 2023 12,773,849 $ 3.63 7.48 $ 598 The fair value of all option activity was estimated at the date of grant using a Black-Scholes model with the following weighted-average assumptions for the three months ended March 31, 2023 and 2022: Three Months Ended 2023 2022 Fair value of Common Stock $ 1.56 $ 10.06 Expected volatility 99.24 % 96.21 % Expected term (in years) 6.13 6.03 Risk-free interest rate 3.87 % 1.73 % Expected dividend yield 0.00 % 0.00 % The weighted average grant-date fair value of stock options granted to employees during the three months ended March 31, 2023 and 2022 was $ 1.26 and $ 8.97 per share, respectively. During the three months ended March 31, 2023 and 2022, the aggregate intrinsic value of stock option awards exercised was $ 26 and $ 110 , respectively. Aggregate intrinsic value represents the difference between the exercise price and the fair value of the underlying Common Stock on the date of exercise. As of March 31, 2023 there was $ 15,609 of unrecognized compensation cost related to unvested stock option grants to employees under the 2022 Plan, which is expected to be recognized over a weighted-average period of 2.8 years. Restricted Stock Units: The following table summarizes RSU activity for the three months ended March 31, 2023: Number of Weighted- Balance at December 31, 2022 801,401 $ 2.30 Granted 1,005,725 $ 1.56 Vested ( 78,161 ) $ 2.30 Forfeited ( 83,017 ) $ 2.30 Balance at March 31, 2023 1,645,948 $ 2.07 As of March 31, 2023 there was $ 2,864 of unrecognized compensation cost related to unvested RSUs under the 2022 Plan, which is expected to be recognized over a weighted-average period of 3.7 years. Performance Stock Units: The following table summarizes PSU activity for the three months ended March 31, 2023: Number of Weighted- Balance at December 31, 2022 4,554,408 $ 1.50 Granted — n/a Vested — n/a Forfeited — n/a Balance at March 31, 2023 4,554,408 $ 1.50 As of March 31, 2023, there was $ 5,787 of unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted average period of approximately 2.3 years.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	7. Fair Value of Financial Assets and Liabilities The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values: Fair Value Measurements as of March 31, 2023 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 69,222 $ - $ - $ 69,222 Short-term investments: United States treasuries 29,571 - - 29,571 Total assets $ 98,793 $ - $ - $ 98,793 Long-term liabilities: Earn-out liabilities - - 7,836 7,836 Total liabilities $ - $ - $ 7,836 $ 7,836 Fair Value Measurements as of December 31, 2022 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 32,829 $ - $ - $ 32,829 Short-term investments: United States treasuries 82,034 - - 82,034 Total assets $ 114,863 $ - $ - $ 114,863 Long-term liabilities: Earn-out liabilities - - 5,513 5,513 Total liabilities $ - $ - $ 5,513 $ 5,513 The Company evaluates transfers between levels at the end of each reporting period. There were no transfers of financial instruments between levels during the three months ended March 31, 2023 . The Company recorded unrealized gains on short-term investments of $ 23 in other comprehensive gain for the three months ended March 31, 2023. As of March 31, 2023 and December 31, 2022 , the Company’s cash equivalents consisted of money market funds with original maturities of less than 90 days from the date of purchase. As of March 31, 2023 and December 31, 2022 , the Company’s short-term investments consisted of United States treasuries with original maturities of more than three months but less than one year . Earn-out liabilities — Upon the Closing, the Earn-Out Shares were accounted for as a liability because the triggering events that determine the number of shares to be earned (the “Triggering Events”) included events that were indexed to the Common Stock of the Company. The estimated fair value of the Earn-out liabilities is determined at each reporting period using a Monte Carlo Simulation Method (“MCSM”). Earn-Out Shareholders Earn-Out Service Providers Total Fair value as of December 31, 2022 $ 4,778 $ 735 $ 5,513 Change in fair value 2,013 310 2,323 Fair value as of March 31, 2023 $ 6,791 $ 1,045 $ 7,836 The following assumptions were used at March 31, 2023: Price target : price target as defined in the Merger Agreement for each Triggering Event: • Triggering Event I is $ 15.00 per share • Triggering Event II is $ 20.00 per share • Triggering Event III is $ 30.00 per share Current stock price : the closing stock price as quoted on Nasdaq as of March 31, 2023 was $ 1.60 . Expected term : the expected term is the five-year term of the earn-out period. Expected volatility : the volatility rate as of March 31, 2023 was 110.0 %. The volatility rate was determined using an average of historical volatilities over the expected term of selected industry peers deemed comparable to the Company. Expected dividend yield : the expected dividend yield is zero as it is not expected that the Company will declare dividends on Common Stock during the expected term.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	8. Net Loss Per Share The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company: Three Months Ended 2023 2022 Numerator: Net loss $ ( 20,711 ) $ ( 21,892 ) Dividends on Series D convertible preferred stock - ( 2,877 ) Redemption value of Series D convertible preferred stock - ( 1,438 ) Net loss attributable to common stockholders - basic and diluted $ ( 20,711 ) $ ( 26,207 ) Denominator: Weighted average common stock outstanding 78,079,013 1,680,164 Net loss per share attributable to common stockholders - basic and diluted $ ( 0.27 ) $ ( 15.60 ) For periods in which the Company reports a net loss attributable to common stockholders, potentially dilutive securities have been excluded from the computation of diluted net loss per share as their effects would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect: Three Months Ended 2023 2022 Series A-1 convertible preferred stock (as converted to Common Stock) - 4,000,000 Series A-2 convertible preferred stock (as converted to Common Stock) - 4,427,072 Series B convertible preferred stock (as converted to Common Stock) - 7,341,485 Series C convertible preferred stock (as converted to Common Stock) - 8,016,645 Series D convertible preferred stock (as converted to Common Stock) - 21,277,800 Warrants to purchase Common Stock 133,578 226,196 Stock options to purchase Common Stock 12,773,849 8,512,300 Earn-out Shares 7,536,461 - Unvested RSUs 1,645,948 - Unvested PSUs 4,554,408 - Total 26,644,244 53,801,498

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2023
Restructuring Charges [Abstract]
Restructuring Charges	9. Restructuring Charges On January 12, 2023 , the Company announced a restructuring of its operations and a reduction in workforce. As a result of the restructuring, the Company incurred a restructuring charge of $ 2,329 associated primarily with severance and other termination-related benefits related to 48 full-time employees, representing approximately 31 % of the employee base at the time of the restructuring. All costs associated with the restructuring were recorded within operating expenses in the same functional category as the employees' operating expenses in the quarter ended March 31, 2023 . The restructuring reduced costs related to certain of our pipeline programs in order to prioritize certain of our commercial efforts and our ADHD label expansion programs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, after elimination of all intercompany accounts and transactions. As permitted for interim reporting, certain footnotes or other financial information that are normally required by U.S. GAAP may be condensed or omitted, unless otherwise required by U.S. GAAP or Securities and Exchange Commission (“SEC”) rules and regulations. These condensed consolidated financial statements were prepared on the same basis as and should be read in conjunction with the Company’s annual consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”). In the opinion of management, all adjustments of a normal recurring nature, considered necessary for fair presentation, have been included in these condensed consolidated financial statements. The results of operations for the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any other interim period or future year. The condensed consolidated balance sheet as of December 31, 2022 was derived from the audited annual consolidated financial statements but does not include all information required by U.S. GAAP for annual consolidated financial statements.
Earn-Out Liabilities	Earn-Out Liabilities: In connection with the Business Combination, holders of Legacy Akili common stock, Legacy Convertible Preferred Stock and warrants to purchase shares of Legacy Akili common stock (“Earn-Out Shareholders”) and employees or individual service providers holding options to purchase shares of Legacy Akili common stock, in each case as designated by the Board of Akili as an earn-out service provider prior to the Closing Date (“Earn-Out Service Providers”) received the contingent right to receive additional Common Stock upon the achievement of certain earn-out targets (the “Rights”). The Company concluded the issuance of Rights to Earn-Out Shareholders constitutes a deemed dividend and evaluated the Rights for classification under guidance applicable to financial instruments. In assessing classification, the Company considered ASC Subtopic 815-40 “ Contracts in Entity’s Own Equity ” and determined the Rights contain settlement provisions that preclude them from being indexed to the Company’s stock and accordingly liability classification is required. The Company concluded issuance of the Rights to Earn-Out Service Providers represents compensation in scope of ASC Topic 718, “ Compensation - Stock Compensation. ” In considering relevant classification guidance, the Company determined the Rights issued to Earn-Out Service Providers are liabilities because they are indexed to whether such Earn-Out Service Providers hold qualifying equity instruments when the earn-out targets are achieved. The fair value of the contingent earn-out consideration is estimated as of the Closing Date at the present value of the expected contingent earn-out consideration using a Monte Carlo Simulation Method (“MCSM”). The Company reviews the probability of achievement of the earn-out targets to determine the impact on the fair value of the earn-out consideration on a quarterly basis over the earn-out period. For Earn-Out Shareholders, the corresponding fair value was initially recorded against additional paid-in capital. Changes in the estimated fair value of the contingent earn-out consideration related to Earn-Out Shareholders are recorded in other income (expense) in the Consolidated Statements of Operations and Comprehensive Loss and are reflected in the period in which they are identified. For Earn-Out Service Providers, the corresponding fair value was initially recorded within operating expenses in the same functional category as the grantees' operating expenses. Changes in the estimated fair value of contingent earn-out consideration related to Earn-Out Service Providers is recorded as stock compensation for the period. Changes in the estimated fair value of the contingent earn-out consideration may materially impact or cause volatility in the Company's operating results.
Revenue	Revenue: Product revenue was $ 113 and $ 66 for the three months ended March 31, 2023 and 2022, respectively. There was no collaboration revenue in either period. As of March 31, 2023, the Company has a contract liability related to product revenue, which consists of amounts that have been paid but have not been recognized as revenue. All amounts are expected to be recognized as revenue within 12 months of the balance sheet date and are classified as current deferred revenue. The Company recognized $ 49 of product revenue in the three months ended March 31, 2023 that was previously included in the December 31, 2022 deferred revenue balance. Contract Liabilities Product Balance at December 31, 2022 $ 106 Revenue recognized ( 113 ) Revenue deferred 127 Balance at March 31, 2023 $ 120
Concentration of credit risk	Concentration of credit risk: On March 10, 2023, Silicon Valley Bank (“SVB”) was closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver. On March 13, 2023, pursuant to a joint statement released by the U.S. Department of Treasury, the U.S. Federal Reserve, and the FDIC, the U.S. government provided assurance that all depositors would be fully protected. Thereafter, the FDIC transferred all deposits of SVB to a newly created bridge bank, named Silicon Valley Bridge Bank, N.A. (“SVBB”), which announced that it would fully honor existing credit facilities. On March 27, 2023, First Citizens BancShares, Inc. entered into an agreement with the FDIC to purchase all assets and liabilities of SVBB and confirmed it would honor existing credit facilities. The Amended and Restated Loan and Security Agreement with SVB required an exclusive relationship for our operating cash account, however in light of the events and status of SVB, we entered into an agreement in April 2023 which allows the Company to establish operating accounts and move an additional portion of our cash resources to other financial institutions.
Recently Adopted and Issued Accounting Pronouncements	Recently adopted accounting pronouncements: In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), as amended by ASU 2019-10. ASU 2016-13 will change how companies account for credit losses for most financial assets and certain other instruments. For trade receivables, loans and held-to-maturity debt securities, companies will be required to recognize an allowance for credit losses rather than reducing the carrying value of the asset. ASU 2016-13 is effective for the Company for the annual reporting period beginning January 1, 2023. The Company adopted this guidance for the three months ending March 31, 2023, however there was no impact to the financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Contract Liabilities	Contract Liabilities Product Balance at December 31, 2022 $ 106 Revenue recognized ( 113 ) Revenue deferred 127 Balance at March 31, 2023 $ 120

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Payables And Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: March 31, December 31, Accrued bonus $ 736 $ 2,819 Accrued royalties 113 110 Accrued wages and benefits 899 1,281 Accrued clinical study expenses 269 292 Accrued consulting service expenses 216 401 Other accrued expenses 595 713 Total $ 2,828 $ 5,616

Corporate Bond (Tables)

Corporate Bond (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Carrying Amount of Corporate Bond	The carrying amount of the corporate bond is as follows: March 31, December 31, Corporate Bond $ 5,000 $ 5,000 Unamortized discount on Corporate Bond ( 3,112 ) ( 3,166 ) Corporate Bond, net of discount $ 1,888 $ 1,834

Note Payable (Table)

Note Payable (Table)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Carrying Amount of Note Payable	At March 31, 2023 , the carrying amount of the note payable (excluding the current portion of $ 6,250 ) is as follows: Outstanding principal $ 15,000 Note payable, short term ( 6,250 ) Final payment 750 Unamortized debt issuance costs ( 794 ) Note payable, long term (net of debt issuance costs) $ 8,706
Future Minimum Principal Payments Due	Future minimum principal payments due under the Amended and Restated Loan and Security Agreement, excluding the final payment of $ 750 due at maturity, prepayment or termination, are as follows: Years Ending December 31, Remainder of 2023 4,375 2024 7,500 2025 3,125 Total $ 15,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Summary of Stock-Based Compensation Expense	RSUs, PSUs, and the expense related to Earn-Out Service Providers, is classified in the condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended 2023 2022 Research and development $ 879 $ 609 Selling, general and administrative 1,880 1,461 Total $ 2,759 $ 2,070
Summary of Stock Option Activity and Related Information	: Number of Weighted- Weighted- Aggregate Balance at December 31, 2022 12,190,970 $ 3.98 7.36 Granted 1,783,600 $ 1.56 Cancelled ( 1,183,454 ) $ 3.96 Exercised ( 17,267 ) $ 0.05 Balance at March 31, 2023 12,773,849 $ 3.63 7.48 $ 598 Exercisable March 31, 2023 6,707,365 $ 3.67 5.77 $ 526 Options vested and expected to vest, March 31, 2023 12,773,849 $ 3.63 7.48 $ 598
Summary of Stock Option Activity Weighted-Average Assumptions	The fair value of all option activity was estimated at the date of grant using a Black-Scholes model with the following weighted-average assumptions for the three months ended March 31, 2023 and 2022: Three Months Ended 2023 2022 Fair value of Common Stock $ 1.56 $ 10.06 Expected volatility 99.24 % 96.21 % Expected term (in years) 6.13 6.03 Risk-free interest rate 3.87 % 1.73 % Expected dividend yield 0.00 % 0.00 %
Summary of RSUs Activity	The following table summarizes RSU activity for the three months ended March 31, 2023: Number of Weighted- Balance at December 31, 2022 801,401 $ 2.30 Granted 1,005,725 $ 1.56 Vested ( 78,161 ) $ 2.30 Forfeited ( 83,017 ) $ 2.30 Balance at March 31, 2023 1,645,948 $ 2.07
Summary of PSUs activity	The following table summarizes PSU activity for the three months ended March 31, 2023: Number of Weighted- Balance at December 31, 2022 4,554,408 $ 1.50 Granted — n/a Vested — n/a Forfeited — n/a Balance at March 31, 2023 4,554,408 $ 1.50

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis	The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values: Fair Value Measurements as of March 31, 2023 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 69,222 $ - $ - $ 69,222 Short-term investments: United States treasuries 29,571 - - 29,571 Total assets $ 98,793 $ - $ - $ 98,793 Long-term liabilities: Earn-out liabilities - - 7,836 7,836 Total liabilities $ - $ - $ 7,836 $ 7,836 Fair Value Measurements as of December 31, 2022 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 32,829 $ - $ - $ 32,829 Short-term investments: United States treasuries 82,034 - - 82,034 Total assets $ 114,863 $ - $ - $ 114,863 Long-term liabilities: Earn-out liabilities - - 5,513 5,513 Total liabilities $ - $ - $ 5,513 $ 5,513
Schedule of Change in Fair Value Recorded as Stock Compensation	The estimated fair value of the Earn-out liabilities is determined at each reporting period using a Monte Carlo Simulation Method (“MCSM”). Earn-Out Shareholders Earn-Out Service Providers Total Fair value as of December 31, 2022 $ 4,778 $ 735 $ 5,513 Change in fair value 2,013 310 2,323 Fair value as of March 31, 2023 $ 6,791 $ 1,045 $ 7,836

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company: Three Months Ended 2023 2022 Numerator: Net loss $ ( 20,711 ) $ ( 21,892 ) Dividends on Series D convertible preferred stock - ( 2,877 ) Redemption value of Series D convertible preferred stock - ( 1,438 ) Net loss attributable to common stockholders - basic and diluted $ ( 20,711 ) $ ( 26,207 ) Denominator: Weighted average common stock outstanding 78,079,013 1,680,164 Net loss per share attributable to common stockholders - basic and diluted $ ( 0.27 ) $ ( 15.60 )
Summary of Computation of Diluted Net Loss Per Share Attributable to Common Stockholders Including Anti-dilutive Effect	The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect: Three Months Ended 2023 2022 Series A-1 convertible preferred stock (as converted to Common Stock) - 4,000,000 Series A-2 convertible preferred stock (as converted to Common Stock) - 4,427,072 Series B convertible preferred stock (as converted to Common Stock) - 7,341,485 Series C convertible preferred stock (as converted to Common Stock) - 8,016,645 Series D convertible preferred stock (as converted to Common Stock) - 21,277,800 Warrants to purchase Common Stock 133,578 226,196 Stock options to purchase Common Stock 12,773,849 8,512,300 Earn-out Shares 7,536,461 - Unvested RSUs 1,645,948 - Unvested PSUs 4,554,408 - Total 26,644,244 53,801,498

Nature of the Business and Ba_2

Nature of the Business and Basis of Presentation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Aug. 19, 2022
Organization, Consolidation and Presentation of Financial Statements [Lite Items]
Common stock, par value	$ 0.0001	$ 0.0001
Cash and cash equivalents and short term investments	$ 117,440
Accumulated deficit	$ (260,999)	$ (240,288)
SCS
Organization, Consolidation and Presentation of Financial Statements [Lite Items]
Business combination, issuance of common shares	16,200,000
Common stock, par value	$ 0.0001
Business acquisition share price	$ 10
Business combination amount	$ 162,000
Business combination merger included funds in trust account	$ 164,283
Business combination, transaction costs			$ 31,438
Business combination exchange ratio	115%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized	$ (113,000)
Revenues	113,000	$ 66,000
Product Revenue
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized	49,000
Revenues	113,000	66,000
Collaboration Revenue
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 0	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Contract Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Accounting Policies [Abstract]
Beginning balance	$ 106
Revenue recognized	(113)
Revenue deferred	127
Ending balance	$ 120

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables And Accruals [Abstract]
Accrued bonus	$ 736	$ 2,819
Accrued royalties	113	110
Accrued wages and benefits	899	1,281
Accrued clinical study expenses	269	292
Accrued consulting service expenses	216	401
Other accrued expenses	595	713
Total	$ 2,828	$ 5,616

Corporate Bond - Additional Inf

Corporate Bond - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2019
Debt Instrument [Line Items]
Corporate bond	$ 5,000		$ 5,000
Corporate Bond Securities
Debt Instrument [Line Items]
Amortization expense	$ 54	$ 48
Corporate Bond Securities | Shinogi And Company Limited | Option And Collaboration Agreement
Debt Instrument [Line Items]
Corporate bond				$ 5,000

Corporate Bond - Schedule Of Su

Corporate Bond - Schedule Of Subordinated Borrowing (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Subordinated Borrowings [Abstract]
Corporate bond	$ 5,000	$ 5,000
Unamortized discount on corporate bond	(3,112)	(3,166)
Corporate bond, net of discount	$ 1,888	$ 1,834

Note Payable - Additional Infor

Note Payable - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Interest expense, debt	$ 622	$ 176
Interest rate	11.80%	7.25%
Selling, general and administrative expense	$ 13,011	$ 15,391
Note payable, short term	6,250		$ 4,375
Final payment	750
Loan and Security Agreement
Debt Instrument [Line Items]
Outstanding principal amount	15,000
Interest expense, debt	139	40
Selling, general and administrative expense	$ 42	$ 57

Note Payable - Schedule of Carr

Note Payable - Schedule of Carrying Amount of Note Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Note payable, short term	$ (6,250)	$ (4,375)
Final payment	750
Note payable, long term (net of debt issuance costs)	8,706	$ 10,442
Note Payable
Debt Instrument [Line Items]
Outstanding principal	15,000
Note payable, short term	(6,250)
Final payment	750
Unamortized debt issuance costs	(794)
Note payable, long term (net of debt issuance costs)	$ 8,706

Note Payable - Future Minimum P

Note Payable - Future Minimum Principal Payments Due (Details) - Loan and Security Agreement $ in Thousands	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Remainder of 2023	$ 4,375
2024	7,500
2025	3,125
Outstanding principal	$ 15,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Stock-based compensation	$ 2,759,000	$ 2,070,000
Weighted average grant-date fair value of stock options granted to employees	$ 1.26	$ 8.97
Aggregate intrinsic value of stock option awards exercised	$ 26,000	$ 110,000
Restricted Stock Units (RSUs)
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Unrecognized compensation cost related to unvested stock option grants to employees	$ 2,864,000
Unrecognized compensation cost, expected to be recognized over a weighted-average period	3 years 8 months 12 days
Performance Stock Units (PSUs)
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Unrecognized compensation cost related to unvested stock option grants to employees	$ 5,787
Unrecognized compensation cost, expected to be recognized over a weighted-average period	2 years 3 months 18 days
Earn-Out Shares to Earn-Out Service Provider
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Stock-based compensation	$ 310,000
2022 Stock Option and Incentive Plan
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Unrecognized compensation cost related to unvested stock option grants to employees	$ 15,609,000
Unrecognized compensation cost, expected to be recognized over a weighted-average period	2 years 9 months 18 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 2,759	$ 2,070
Research and Development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	879	609
Selling, General and Administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 1,880	$ 1,461

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity and Related Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Number of Options, Beginning Balance	12,190,970
Number of Options, Granted	1,783,600
Number of Options, Cancelled	(1,183,454)
Number of Options, Exercised	(17,267)
Number of Options, Ending Balance	12,773,849	12,190,970
Number of Options, Exercisable	6,707,365
Number of Options, Options Vested and Expected to Vest	12,773,849
Weighted Average Exercise Price Per Share, Beginning Balance	$ 3.98
Weighted Average Exercise Price Per Share, Granted	1.56
Weighted Average Exercise Price Per Share, Cancelled	3.96
Weighted Average Exercise Price Per Share, Exercised	0.05
Weighted Average Exercise Price Per Share, Ending Balance	3.63	$ 3.98
Weighted Average Exercise Price Per Share, Exercisable	3.67
Weighted Average Exercise Price Per Share, Options Vested and Expected to Vest	$ 3.63
Weighted Average Remaining Contractual Term (in Years), Balance	7 years 5 months 23 days	7 years 4 months 9 days
Weighted Average Remaining Contractual Term (in Years), Exercisable	5 years 9 months 7 days
Weighted Average Remaining Contractual Term (in Years), Options vested and expected to vest	7 years 5 months 23 days
Aggregate Intrinsic Value, Balance	$ 598
Aggregate Intrinsic Value, Exercisable	526
Aggregate Intrinsic Value, Options vested and expected to vest	$ 598

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock Option Activity Weighted Average Assumptions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Fair value of common stock	$ 1.56	$ 10.06
Expected volatility	99.24%	96.21%
Expected term (in years)	6 years 1 month 17 days	6 years 10 days
Risk-free interest rate	3.87%	1.73%
Expected dividend yield	0%	0%

Stock-Based Compensation - The

Stock-Based Compensation - The Summary of RSU and PSU Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance | shares	801,401
Granted | shares	1,005,725
Vested | shares	(78,161)
Forfeited | shares	(83,017)
Ending Balance | shares	1,645,948
Beginning Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 2.30
Granted, Weighted-Average Grant Date Fair Value | $ / shares	1.56
Vested, Weighted-Average Grant Date Fair Value | $ / shares	2.30
Forfeited, Weighted-Average Grant Date Fair Value | $ / shares	2.30
Ending Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 2.07
Performance Stock Units (PSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance | shares	4,554,408
Ending Balance | shares	4,554,408
Beginning Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 1.50
Ending Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 1.50

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Fair Value of Assets and Liabilities on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Short-term investments	$ 29,571	$ 82,034
Fair Value, Measurements, Recurring
Assets
Total assets	98,793	114,863
Long-term liabilities:
Total liabilities	7,836	5,513
Fair Value, Measurements, Recurring | Earn-Out Liabilities
Long-term liabilities:
Total liabilities	7,836	5,513
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Assets
Total assets	98,793	114,863
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Long-term liabilities:
Total liabilities	7,836	5,513
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Earn-Out Liabilities
Long-term liabilities:
Total liabilities	7,836	5,513
Fair Value, Measurements, Recurring | Money Market Funds
Assets
Cash equivalents	69,222	32,829
Fair Value, Measurements, Recurring | Money Market Funds | Fair Value, Inputs, Level 1
Assets
Cash equivalents	69,222	32,829
Fair Value, Measurements, Recurring | US Treasury Securities
Assets
Short-term investments	29,571	82,034
Fair Value, Measurements, Recurring | US Treasury Securities | Fair Value, Inputs, Level 1
Assets
Short-term investments	$ 29,571	$ 82,034

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Schedule of Change in Fair Value Recorded as Stock Compensation (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Fair value as of December 31, 2022	$ 5,513
Change in fair value	2,323
Fair value as of March 31, 2023	7,836
Earn-Out Shareholders
Business Acquisition [Line Items]
Fair value as of December 31, 2022	4,778
Change in fair value	2,013
Fair value as of March 31, 2023	6,791
Earn-Out Service Providers
Business Acquisition [Line Items]
Fair value as of December 31, 2022	735
Change in fair value	310
Fair value as of March 31, 2023	$ 1,045

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Fair value, transfers of financial instruments between levels	$ 0
Unrealized gains on short-term Investments in other comprehensive loss	$ 23,000	$ (6,000)
Earn-out shares, share price	$ 1.60
Earn-out shares, expected term	5 years
Earn-out shares, expected volatility rate	110%
Earn-out shares, expected dividend yield	0%
Triggering Event I
Business Acquisition [Line Items]
Earn-out shares, share price	$ 15
Triggering Event II
Business Acquisition [Line Items]
Earn-out shares, share price	20
Triggering Event III
Business Acquisition [Line Items]
Earn-out shares, share price	$ 30
Fair Value, Measurements, Recurring
Business Acquisition [Line Items]
Liabilities, fair value	$ 7,836,000		$ 5,513,000
Short-Term Investments
Business Acquisition [Line Items]
Unrealized gains on short-term Investments in other comprehensive loss	$ 23,000
Short-Term Investments | US Treasury Securities | Maximum
Business Acquisition [Line Items]
Original maturities term of investments from date of purchase	1 year		1 year
Short-Term Investments | US Treasury Securities | MinimumMember
Business Acquisition [Line Items]
Original maturities term of investments from date of purchase	3 months		3 months
Cash And Cash Equivalents | Money Market Funds | Maximum
Business Acquisition [Line Items]
Original maturities term of investments from date of purchase	90 days		90 days

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net loss	$ (20,711)	$ (21,892)
Dividends on Series D convertible preferred stock		(2,877)
Redemption value of Series D convertible preferred stock		(1,438)
Net loss attributable to common stockholders - basic	(20,711)	(26,207)
Net loss attributable to common stockholders - diluted	$ (20,711)	$ (26,207)
Denominator:
Weighted average common stock outstanding - basic	78,079,013	1,680,164
Weighted average common stock outstanding - diluted	78,079,013	1,680,164
Net loss per share attributable to common stockholders - basic	$ (0.27)	$ (15.60)
Net loss per share attributable to common stockholders - diluted	$ (0.27)	$ (15.60)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Computation of Diluted Net Loss Per Share Attributable to Common Stockholders Including Anti-dilutive Effect (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	26,644,244	53,801,498
Series A-1 Convertible Preferred Stock (as Converted to Common Stock)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		4,000,000
Series A-2 Convertible Preferred Stock (as Converted to Common Stock)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		4,427,072
Series B Convertible Preferred Stock (as Converted to Common Stock)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		7,341,485
Series C Convertible Preferred Stock (as Converted to Common Stock)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		8,016,645
Series D Convertible Preferred Stock (as Converted to Common Stock)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		21,277,800
Warrants to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	133,578	226,196
Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	12,773,849	8,512,300
Earn-out Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	7,536,461
Unvested RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	1,645,948
Unvested PSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	4,554,408

Restructuring Charges - Additio

Restructuring Charges - Additional Information (Details) $ in Thousands		3 Months Ended
	Jan. 12, 2023	Mar. 31, 2023 USD ($) Employees
Restructuring Charges [Abstract]
Restructuring operations announcement date	Jan. 12, 2023
Restructuring charge | $		$ 2,329
Number of employees related to restructuring | Employees		48
Percentage of employee base at time of restructuring		31%