Akili (AKLI) 10-Q 14 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
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 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	71 Commercial Street
Entity Address, Address Line Two	Mailbox 312
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02109
City Area Code	617
Local Phone Number	313-8853
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, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 63,161	$ 75,150
Restricted cash	180	305
Accounts receivable	144	300
Prepaid expenses and other current assets	1,513	2,275
Total current assets	64,998	78,030
Property and equipment, net	835	680
Operating lease right-of-use asset	1,442	1,577
Prepaid expenses and other long-term assets	90	96
Total assets	67,365	80,383
Current liabilities:
Accounts payable	1,101	1,285
Accrued expenses and other current liabilities	1,794	3,326
Deferred revenue	38	100
Operating lease liability	779	756
Note payable, short term	7,500	7,500
Total current liabilities	11,212	12,967
Note payable, long term	1,671	3,445
Operating lease liability, net of current portion	1,528	1,730
Corporate bond, net of bond discount	2,115	2,054
Earn-out liabilities	608	1,632
Other long-term liabilities	23	23
Total liabilities	17,157	21,851
Commitments and contingencies
Stockholders' equity
Common stock, $0.0001 par value: 1,000,000,000 shares authorized; 78,684,864 and 78,356,527 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	8	8
Additional paid-in capital	359,744	358,305
Accumulated deficit	(309,544)	(299,781)
Total stockholders' equity	50,208	58,532
Total liabilities and stockholders' equity	$ 67,365	$ 80,383

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
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	78,684,864	78,356,527
Common stock, shares outstanding	78,684,864	78,356,527

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 383	$ 113
Cost of revenues	173	137
Gross profit (loss)	210	(24)
Operating expenses:
Research and development	4,183	6,084
Selling, general and administrative	6,892	13,011
Total operating expenses	11,075	19,095
Operating loss	(10,865)	(19,119)
Other income (expense):
Other income	667	1,043
Interest expense	(453)	(622)
Change in estimated fair value of earn-out liabilities	888	(2,013)
Total other income (expense)	1,102	(1,592)
Loss before income taxes	(9,763)	(20,711)
Net loss	(9,763)	(20,711)
Unrealized gain on short-term investments		23
Comprehensive loss	(9,763)	(20,688)
Net loss	$ (9,763)	$ (20,711)
Weighted average common stock outstanding - basic	78,526,669	78,079,013
Weighted average common shares outstanding - diluted	78,526,669	78,079,013
Net loss per share - basic	$ (0.12)	$ (0.27)
Net loss per share - diluted	$ (0.12)	$ (0.27)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2022	$ 110,679	$ 8	$ 350,980	$ (240,288)	$ (21)
Beginning Balance, Shares at Dec. 31, 2022		78,022,924
Stock-based compensation expense	2,449		2,449
Exercise of stock options, Shares		16,713
Vesting of RSUs, Shares		78,161
Other comprehensive income	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
Beginning Balance at Dec. 31, 2023	58,532	$ 8	358,305	(299,781)
Beginning Balance, Shares at Dec. 31, 2023		78,356,527
Stock-based compensation expense	1,438		1,438
Exercise of stock options	$ 1		1
Exercise of stock options, Shares	207,238	204,053
Vesting of RSUs, Shares		124,284
Net loss	$ (9,763)			(9,763)
Ending Balance at Mar. 31, 2024	$ 50,208	$ 8	$ 359,744	$ (309,544)
Ending Balance, Shares at Mar. 31, 2024		78,684,864

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (9,763)	$ (20,711)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	75	77
Reduction in the carrying amount of right-of-use assets	135	169
Stock-based compensation expense	1,302	2,759
Amortization of premium on short-term investments		(432)
Non Cash Interest Expense	162	194
Change in fair value of earn-out liabilities	(888)	2,013
Changes in operating assets and liabilities:
Accounts receivable	156	(8)
Prepaid expenses and other current assets	776	1,079
Prepaid expenses and other long-term assets	6	(1)
Accounts payable	(184)	(1,268)
Accrued expenses and other current liabilities	(1,532)	(2,788)
Operating lease liabilities	(179)	(195)
Deferred revenue	(62)	14
Net cash used in operating activities	(9,996)	(19,098)
Cash flows from investing activities:
Acquisition of property and equipment	(3)	(3)
Capitalized software development costs	(227)
Purchases of short-term investments		(22,082)
Proceeds from maturities of short-term investments		75,000
Net cash provided by (used in) investing activities	(230)	52,915
Cash flows from financing activities:
Proceeds from exercise of stock options	1
Taxes paid related to net share settlement of share-based awards	(14)	(45)
Repayment of principal on note payable	(1,875)
Net cash used in financing activities	(1,888)	(45)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(12,114)	33,772
Cash, cash equivalents, and restricted cash at beginning of period	75,455	54,402
Cash, cash equivalents, and restricted cash at end of period	63,341	88,174
Supplementary Information:
Cash paid for interest	$ 310	$ 422

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (9,763)	$ (20,711)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Nature of the Business and Basi

Nature of the Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
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 leveraging 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 U.S. Food and Drug Administration (“FDA”) through FDA’s de novo process. EndeavorRx is indicated for use to improve attention function for children ages 8-17 with primarily inattentive or combined-type ADHD, who have a demonstrated attention issue, following the Company’s receipt of FDA authorization in December 2023 for the expanded EndeavorRx label to include older children ages 13-17. In June 2023, the Company released EndeavorOTC, which is built on the same platform as EndeavorRx, nationwide without a prescription to improve attention function, ADHD symptoms and quality of life in adults 18 years of age and older with primarily inattentive or combined-type ADHD, under the FDA guidance entitled “ Enforcement Policy for Digital Health Devices for Treating Psychiatric Disorders During the Coronavirus Disease 2019 Public Health Emergency ” (the “COVID-19 Guidance”). The COVID-19 Guidance allows for the marketing of certain digital therapeutics without premarket clearance, de novo classification, or approval so long as certain criteria are met for the duration of the COVID-19 Guidance, which was expected to remain in effect until November 7, 2023 consistent with FDA guidance entitled “ Transition Plan for Medical Devices That Fall Within Enforcement Policies Issued During the Coronavirus Disease 2019 (COVID-19) Public Health Emergency ” (the “COVID-19 Transition Guidance”). The COVID-19 Transition Guidance allows for the continued distribution of devices falling under the COVID-19 Guidance without marketing authorization so long as the manufacturer has submitted a marketing submission to FDA, the submission has been accepted by FDA prior to November 7, 2023 and FDA has not taken a final action on the marketing submission. While EndeavorOTC has not been authorized by FDA for any indications, the Company submitted a marketing submission to FDA for EndeavorOTC on October 30, 2023. Through guidance from FDA regarding the COVID-19 Transition Guidance, it was clarified that marketing submissions received by FDA on or before November 7, 2023, that pass their technical review after the deadline without being placed on submission hold will still be eligible for continued enforcement discretion. Pursuant to FDA’s guidance on this topic, and given that the Company has since passed FDA’s technical review and has not been placed on submission hold, the Company is continuing to distribute and make EndeavorOTC available under the COVID-19 Guidance. In April 2024, the Company announced an amended agreement with Shionogi & Co. Ltd. (“Shionogi”), as well as the Company and the Company’s board of directors’ (the “Board”) ongoing process to evaluate potential strategic alternatives. As a result of the Company’s announcements and the related workforce reduction of approximately 46 % of the Company’s employees, the Company’s efforts are primarily focused on supporting Shionogi’s regulatory and commercialization activities, continuing to support current users of its EndeavorRx and EndeavorOTC products and make its products available for purchase, and continuing to pursue regulatory authorization from FDA for EndeavorOTC in adults 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. 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 based on its shift in corporate strategy announced in late April 2024. The Company’s efforts are primarily focused on supporting Shionogi’s regulatory and commercialization activities, continuing to support current users of its EndeavorRx and EndeavorOTC products and make its products available for purchase, and continuing to pursue regulatory authorization from FDA for EndeavorOTC in adults with ADHD. There can be no assurance that the Company’s product development and substantially reduced commercialization efforts will be successful; that adequate protection for the Company’s intellectual property will be obtained; that any products developed will obtain necessary government regulatory authorization; or that any products will be commercially viable. Even if the Company’s product development and limited commercialization 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, 2024 and had an accumulated deficit of $ 309,544 at March 31, 2024. The Company believes that its cash and cash equivalents at March 31, 2024 of $ 63,161 , will be sufficient to fund the Company’s planned operations and existing obligations for at least one year after the date of this Quarterly Report. The future viability of the Company is dependent on its ability to generate cash from operating activities and manage liquidity by maintaining reduced operating expenses. The Company may also seek to raise additional capital to finance its operations. The Company’s failure to generate cash from operating activities or to raise capital when needed, or on terms favorable to the Company, could have a negative impact on its financial condition and ability to execute on its shift in corporate strategy announced in late April 2024. 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, 2023 (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, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other interim period or future year. The condensed consolidated balance sheet as of December 31, 2023 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, 2024
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, 2023, included in the Annual Report. There have been no material changes to the significant accounting policies during the three months ended March 31, 2024. 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: The Company generates revenue from contracts with caregivers and patients who purchase subscriptions to access EndeavorRx (“Clients”), the Company’s FDA-authorized video game treatment. Clients are billed in advance for the entire subscription term (new subscriptions are currently for 30 days). Along with the subscription to the video game product, Clients also receive reporting metrics and technical support services. The reporting metrics rely on gameplay data being sent back from EndeavorRx, which the Company analyzes in order to provide information on daily efforts and level completion to Clients throughout the subscription term via the EndeavorRx Insight app. The subscription to the video game product, reporting metrics and technical support services are combined as a single stand-ready performance obligation because these elements are not considered distinct in the context of the contract with the customer. Accordingly, the consideration is recognized ratably on an over time basis over the subscription period which begins once the access code is inputted into the game by the Client and game play has started. The Company generates revenue from customers who purchase EndeavorOTC subscriptions of variable term lengths (currently available as three months , six months or one year ) to access the video game treatment. Customers are billed in advance for the entire applicable subscription term. Along with the subscription to the video game treatment, the customers also receive technical support services and access to software updates. The technical support services and access to software updates were determined to be immaterial in the context of the contract primarily due to the fact that the underlying selective stimulus management engine (“SSME”) technology is not being updated throughout the subscription term, and therefore the primary functionality of the product is not changed during the term of the arrangement. As EndeavorOTC has significant stand-alone functionality that can be used immediately upon delivery, the performance obligation is considered complete upon delivery and all of the consideration is recognized at that point in time. The following table presents the Company’s revenue by product type: Three Months Ended 2024 2023 EndeavorOTC revenue $ 254 $ — EndeavorRx revenue 129 113 Total $ 383 $ 113 There was no collaboration revenue in either period. As of March 31, 2024, the Company has a contract liability related to EndeavorRx 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 $ 80 of product revenue in the three months ended March 31, 2024 that was previously included in the December 31, 2023 deferred revenue balance. Contract Liabilities Product Balance at December 31, 2023 $ 100 Revenue recognized 129 Revenue deferred ( 191 ) Balance at March 31, 2024 $ 38 Cost of revenue: Cost of revenue includes personnel and related costs, third party contractor expenses, customer support costs, royalties, amortization of capitalized software related to our two commercialized products and subscription portal, and software subscriptions related to our products and hosting fees. Sales of EndeavorOTC incur Apple App Store and Google Play fees, both of which are included in cost of revenue. As the Company controls the product until it is transferred to the customer, it is considered the principal in the arrangement and all revenue and cost of revenue is shown gross in the Condensed Consolidated Statements of Operations and Comprehensive Loss.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
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 $ 454 $ 2,355 Accrued royalties 139 150 Accrued wages and benefits 136 200 Accrued clinical study expenses 19 12 Accrued consulting service expenses 45 129 Other accrued expenses 1,001 480 Total $ 1,794 $ 3,326

Corporate Bond

Corporate Bond	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Corporate Bond	4. Corporate Bond In March 2019, in connection with Shionogi 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 $ 61 and $ 54 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, 2024 and 2023, respectively. The carrying amount of the corporate bond is as follows: March 31, 2024 December 31, 2023 Corporate Bond $ 5,000 $ 5,000 Unamortized discount on Corporate Bond ( 2,885 ) ( 2,946 ) Corporate Bond, net of discount $ 2,115 $ 2,054 See Note 9 for a description of the Shionogi Amendment entered into by the Company and Shionogi effective as of April 26, 2024, pursuant to which the Corporate Bond was canceled and forgiven by Shionogi.

Note Payable

Note Payable	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Note Payable	5. Note Payable Amended and Restated Loan and Security Agreement At March 31, 2024, the Company had outstanding principal of $ 8,750 and there is no remaining available undrawn debt. The Company recognized non-cash interest expense related to debt issuance costs of $ 101 and $ 139 for the three months ended March 31, 2024 and 2023 , respectively. The Company recognized selling, general and administrative expense related to loan commitment fees of $ 0 and $ 42 for the three months ended March 31, 2024 and 2023, respectively. The interest rate in effect was 12.3 % and 11.8 % as of March 31, 2024 and 2023 , respectively. At March 31, 2024 , the carrying amount of the note payable (excluding the current portion of $ 7,500 ) is as follows: Outstanding principal $ 8,750 Note payable, short term ( 7,500 ) Final payment 750 Unamortized debt issuance costs ( 329 ) Note payable, long term (net of debt issuance costs) $ 1,671 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 2024 5,625 2025 3,125 Total $ 8,750 See Note 9 for a description of the Company’s May 8, 2024 repayment in full of the outstanding principal, outstanding interest, and final payment under, and full termination of, the Amended and Restated Loan and Security Agreement, including agreement to terminate the associated liens on Company assets.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Research and development $ 670 $ 879 Selling, general and administrative 632 1,880 Total $ 1,302 $ 2,759 Included in the three months ended March 31, 2024 and 2023 balances in the table above is $( 136 ) and $ 310 , respectively, 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, 2024: Number of Weighted- Weighted- Aggregate Balance at December 31, 2023 14,591,753 $ 2.94 7.31 Granted 66,000 $ 0.25 Cancelled ( 513,456 ) $ 2.09 Exercised ( 207,238 ) $ 0.01 Balance at March 31, 2024 13,937,059 $ 3.00 7.11 $ 3 Exercisable March 31, 2024 7,738,868 $ 3.81 5.57 $ — Options vested and expected to vest, March 31, 2024 13,937,059 $ 3.00 7.11 $ 3 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, 2024 and 2023: Three Months Ended 2024 2023 Fair value of Common Stock $ 0.25 $ 1.56 Expected volatility 102.89 % 99.24 % Expected term (in years) 5.83 6.13 Risk-free interest rate 4.23 % 3.87 % 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, 2024 and 2023 was $ 0.21 and $ 1.26 per share, respectively. During the three months ended March 31, 2024 and 2023, the aggregate intrinsic value of stock option awards exercised was $ 54 and $ 26 , 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, 2024 there was $ 8,666 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 2.0 years. Restricted Stock Units: The following table summarizes RSU activity for the three months ended March 31, 2024: Number of Weighted- Balance at December 31, 2023 2,998,837 $ 0.89 Granted 16,000 $ 0.32 Vested ( 129,530 ) $ 1.77 Forfeited ( 113,917 ) $ 0.87 Balance at March 31, 2024 2,771,390 $ 0.85 As of March 31, 2024 there was $ 2,096 of unrecognized compensation cost related to unvested RSUs under the 2022 Plan, which is expected to be recognized over a weighted-average period of 2.2 years. Performance Stock Units: The following table summarizes PSU activity for the three months ended March 31, 2024: Number of Weighted- Balance at December 31, 2023 2,028,134 $ 1.50 Granted — n/a Vested — n/a Forfeited ( 284,650 ) $ 1.50 Balance at March 31, 2024 1,743,484 $ 1.50 As of March 31, 2024, there was $ 1,254 of unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted average period of approximately 1.4 years.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	3 Months Ended
	Mar. 31, 2024
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, 2024 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 50,252 $ - $ - $ 50,252 Liabilities Long-term liabilities: Earn-out liabilities $ - $ - $ 608 $ 608 Fair Value Measurements as of December 31, 2023 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 61,539 $ - $ - $ 61,539 Liabilities Long-term liabilities: Earn-out liabilities $ - $ - $ 1,632 $ 1,632 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, 2024. As of March 31, 2024 and December 31, 2023 , the Company’s cash equivalents consisted of money market funds with original maturities of less than 90 days from the date of purchase. 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, 2023 $ 1,415 $ 217 $ 1,632 Change in fair value ( 888 ) ( 136 ) ( 1,024 ) Fair value as of March 31, 2024 $ 527 $ 81 $ 608 The following assumptions were used at March 31, 2024: 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, 2024 was $ 0.29 . Expected term : the expected term is 3.4 years as of March 31, 2024, which is the remaining term of the earn-out period. Expected volatility : the volatility rate as of March 31, 2024 was 122.5 % . 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, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	8. Net Loss Per Share The computation of basic net loss per share is based on the weighted-average number of our common shares outstanding. The computation of diluted net loss per share is based on the weighted-average number of our common shares outstanding and potential dilutive common shares during the period as determined by the treasury stock method. The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company: Three Months Ended 2024 2023 Numerator: Net loss attributable to common stockholders - basic and diluted $ ( 9,763 ) $ ( 20,711 ) Denominator: Weighted average common stock outstanding - basic and diluted 78,526,669 78,079,013 Net loss per share attributable to common stockholders - basic and diluted $ ( 0.12 ) $ ( 0.27 ) The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: Three Months Ended 2024 2023 Warrants to purchase Common Stock 133,578 133,578 Stock options to purchase Common Stock 13,937,059 12,773,849 Earn-out shares 7,536,461 7,536,461 Unvested RSUs 2,771,390 1,645,948 Unvested PSUs 1,743,484 4,554,408 Total 26,121,972 26,644,244

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events Shionogi Akili Interactive Labs, Inc., a wholly owned subsidiary of the Company (“Akili Interactive Labs”), and Shionogi previously entered into a December 2018 Option and Collaboration Agreement (as previously amended, the “Shionogi Agreement”) pursuant to which Akili Interactive Labs and Shionogi agreed to collaborate in the clinical development and commercialization of certain Company digital therapeutic products in Japan and Taiwan. On April 26, 2024, Akili Interactive Labs and Shionogi entered into a further amendment (the “Shionogi Amendment”, and such date the “Amendment Effective Date”) to the Shionogi Agreement, modifying certain payment terms and obligations. The Shionogi Amendment modified the financial terms of the Shionogi Agreement to provide for the following: • Shionogi will pay Akili Interactive Labs $ 10.5 million within 30 business days of the Amendment Effective Date, in consideration for the elimination of (i) all future royalty payments that had been provided for under the Shionogi Agreement and (ii) certain future regulatory and sales milestone payments that had been provided for under the Shionogi Agreement. • In consideration for Akili Interactive Labs entering into the Shionogi Amendment, and effective as of the Amendment Effective Date, Shionogi and Akili Interactive Labs canceled the $ 5.0 million Corporate Bond previously issued by Akili Interactive Labs to Shionogi and terminated the corresponding bond subscription agreement, resulting in the elimination of all Akili Interactive Labs repayment obligations under such Corporate Bond. • Akili Interactive Labs is entitled to receive up to a total of $ 3.5 million from Shionogi by the end of 2025 in consideration of certain development and support services to be performed by Akili Interactive Labs, as well as an additional $ 1.0 million from Shionogi payable in the event that Akili Interactive Labs delivers to Shionogi an updated version of SDT-001 within 11 months of the Amendment Effective Date. Of the above $ 3.5 million, at least $ 1.5 million shall be paid to Akili Interactive Labs within 30 business days of the Amendment Effective Date. • Akili Interactive Labs is entitled to receive up to a total of $ 3.0 million from Shionogi in potential regulatory milestone payments. Restructuring On April 30, 2024 , the Company announced a restructuring of its operations and a reduction in its workforce as part of the Company and the Board’s ongoing process of evaluating potential strategic alternatives. As a result of the restructuring, the Company expects to incur a restructuring charge associated primarily with severance and other benefits related to 31 employees, representing approximately 46 % of the employee base at the time of the restructuring across different areas and functions. The Company estimates the severance and restructuring-related costs associated with the restructuring will be approximately $ 2.3 - $ 2.8 million and such costs are expected to be recorded in the quarter ended June 30, 2024. The Company expects that payment of most of these costs will be paid in 2024. SVB Debt Repayment On May 8, 2024, the Company, Silicon Valley Bank (“SVB”) and SVB Innovation Credit Fund VIII, L.P. entered into a payoff letter (the “Payoff Letter”) for a voluntary prepayment with respect to the Amended and Restated Loan and Security Agreement, dated May 25, 2021 (the “SVB Loan Agreement”). Pursuant to the Payoff Letter, the Company paid a total of approximately $8.3 million to SVB, representing the outstanding principal, accrued and unpaid interest, final payment and fees due to SVB under the SVB Loan Agreement, all facilities thereunder and related loan documents, in repayment of the Company’s outstanding obligations under the SVB Loan Agreement, all facilities thereunder and related loan documents, and thereby terminated the SVB Loan Agreement, all facilities thereunder and related loan documents. Pursuant to the Payoff Letter, SVB’s commitments to extend further credit to the Company terminated; SVB agreed to release and terminate all liens or security interests granted to secure the obligations under the SVB Loan Agreement and the Company was unconditionally released from its respective guaranties and obligations under the SVB Loan Agreement, all facilities thereunder and related loan documents without further action (other than with respect to customary provisions and agreements that are expressly specified to survive the termination).

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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, 2023 (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, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other interim period or future year. The condensed consolidated balance sheet as of December 31, 2023 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: The Company generates revenue from contracts with caregivers and patients who purchase subscriptions to access EndeavorRx (“Clients”), the Company’s FDA-authorized video game treatment. Clients are billed in advance for the entire subscription term (new subscriptions are currently for 30 days). Along with the subscription to the video game product, Clients also receive reporting metrics and technical support services. The reporting metrics rely on gameplay data being sent back from EndeavorRx, which the Company analyzes in order to provide information on daily efforts and level completion to Clients throughout the subscription term via the EndeavorRx Insight app. The subscription to the video game product, reporting metrics and technical support services are combined as a single stand-ready performance obligation because these elements are not considered distinct in the context of the contract with the customer. Accordingly, the consideration is recognized ratably on an over time basis over the subscription period which begins once the access code is inputted into the game by the Client and game play has started. The Company generates revenue from customers who purchase EndeavorOTC subscriptions of variable term lengths (currently available as three months , six months or one year ) to access the video game treatment. Customers are billed in advance for the entire applicable subscription term. Along with the subscription to the video game treatment, the customers also receive technical support services and access to software updates. The technical support services and access to software updates were determined to be immaterial in the context of the contract primarily due to the fact that the underlying selective stimulus management engine (“SSME”) technology is not being updated throughout the subscription term, and therefore the primary functionality of the product is not changed during the term of the arrangement. As EndeavorOTC has significant stand-alone functionality that can be used immediately upon delivery, the performance obligation is considered complete upon delivery and all of the consideration is recognized at that point in time. The following table presents the Company’s revenue by product type: Three Months Ended 2024 2023 EndeavorOTC revenue $ 254 $ — EndeavorRx revenue 129 113 Total $ 383 $ 113 There was no collaboration revenue in either period. As of March 31, 2024, the Company has a contract liability related to EndeavorRx 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 $ 80 of product revenue in the three months ended March 31, 2024 that was previously included in the December 31, 2023 deferred revenue balance. Contract Liabilities Product Balance at December 31, 2023 $ 100 Revenue recognized 129 Revenue deferred ( 191 ) Balance at March 31, 2024 $ 38
Cost of revenue	Cost of revenue: Cost of revenue includes personnel and related costs, third party contractor expenses, customer support costs, royalties, amortization of capitalized software related to our two commercialized products and subscription portal, and software subscriptions related to our products and hosting fees. Sales of EndeavorOTC incur Apple App Store and Google Play fees, both of which are included in cost of revenue. As the Company controls the product until it is transferred to the customer, it is considered the principal in the arrangement and all revenue and cost of revenue is shown gross in the Condensed Consolidated Statements of Operations and Comprehensive Loss.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Contract Liabilities	Contract Liabilities Product Balance at December 31, 2023 $ 100 Revenue recognized 129 Revenue deferred ( 191 ) Balance at March 31, 2024 $ 38
Summary of Product Type Information	The following table presents the Company’s revenue by product type: Three Months Ended 2024 2023 EndeavorOTC revenue $ 254 $ — EndeavorRx revenue 129 113 Total $ 383 $ 113

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
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 $ 454 $ 2,355 Accrued royalties 139 150 Accrued wages and benefits 136 200 Accrued clinical study expenses 19 12 Accrued consulting service expenses 45 129 Other accrued expenses 1,001 480 Total $ 1,794 $ 3,326

Corporate Bond (Tables)

Corporate Bond (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Carrying Amount of Corporate Bond	The carrying amount of the corporate bond is as follows: March 31, 2024 December 31, 2023 Corporate Bond $ 5,000 $ 5,000 Unamortized discount on Corporate Bond ( 2,885 ) ( 2,946 ) Corporate Bond, net of discount $ 2,115 $ 2,054

Note Payable (Table)

Note Payable (Table)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Carrying Amount of Note Payable	At March 31, 2024 , the carrying amount of the note payable (excluding the current portion of $ 7,500 ) is as follows: Outstanding principal $ 8,750 Note payable, short term ( 7,500 ) Final payment 750 Unamortized debt issuance costs ( 329 ) Note payable, long term (net of debt issuance costs) $ 1,671
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 2024 5,625 2025 3,125 Total $ 8,750

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Summary of Stock-Based Compensation Expense	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 2024 2023 Research and development $ 670 $ 879 Selling, general and administrative 632 1,880 Total $ 1,302 $ 2,759
Summary of Stock Option Activity and Related Information	The following is a summary of stock option activity for the three months ended March 31, 2024: Number of Weighted- Weighted- Aggregate Balance at December 31, 2023 14,591,753 $ 2.94 7.31 Granted 66,000 $ 0.25 Cancelled ( 513,456 ) $ 2.09 Exercised ( 207,238 ) $ 0.01 Balance at March 31, 2024 13,937,059 $ 3.00 7.11 $ 3 Exercisable March 31, 2024 7,738,868 $ 3.81 5.57 $ — Options vested and expected to vest, March 31, 2024 13,937,059 $ 3.00 7.11 $ 3
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, 2024 and 2023: Three Months Ended 2024 2023 Fair value of Common Stock $ 0.25 $ 1.56 Expected volatility 102.89 % 99.24 % Expected term (in years) 5.83 6.13 Risk-free interest rate 4.23 % 3.87 % Expected dividend yield 0.00 % 0.00 %
Summary of RSUs Activity	The following table summarizes RSU activity for the three months ended March 31, 2024: Number of Weighted- Balance at December 31, 2023 2,998,837 $ 0.89 Granted 16,000 $ 0.32 Vested ( 129,530 ) $ 1.77 Forfeited ( 113,917 ) $ 0.87 Balance at March 31, 2024 2,771,390 $ 0.85
Summary of PSUs activity	The following table summarizes PSU activity for the three months ended March 31, 2024: Number of Weighted- Balance at December 31, 2023 2,028,134 $ 1.50 Granted — n/a Vested — n/a Forfeited ( 284,650 ) $ 1.50 Balance at March 31, 2024 1,743,484 $ 1.50

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 50,252 $ - $ - $ 50,252 Liabilities Long-term liabilities: Earn-out liabilities $ - $ - $ 608 $ 608 Fair Value Measurements as of December 31, 2023 Description Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 61,539 $ - $ - $ 61,539 Liabilities Long-term liabilities: Earn-out liabilities $ - $ - $ 1,632 $ 1,632
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, 2023 $ 1,415 $ 217 $ 1,632 Change in fair value ( 888 ) ( 136 ) ( 1,024 ) Fair value as of March 31, 2024 $ 527 $ 81 $ 608

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income (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 2024 2023 Numerator: Net loss attributable to common stockholders - basic and diluted $ ( 9,763 ) $ ( 20,711 ) Denominator: Weighted average common stock outstanding - basic and diluted 78,526,669 78,079,013 Net loss per share attributable to common stockholders - basic and diluted $ ( 0.12 ) $ ( 0.27 )
Summary of Computation of Diluted Net Income (Loss) Per Share Attributable to Common Stockholders Including Anti-dilutive Effect	The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: Three Months Ended 2024 2023 Warrants to purchase Common Stock 133,578 133,578 Stock options to purchase Common Stock 13,937,059 12,773,849 Earn-out shares 7,536,461 7,536,461 Unvested RSUs 2,771,390 1,645,948 Unvested PSUs 1,743,484 4,554,408 Total 26,121,972 26,644,244

Nature of the Business and Ba_2

Nature of the Business and Basis of Presentation - Additional Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) Segment $ / shares	Dec. 31, 2023 USD ($) $ / shares
Organization, Consolidation and Presentation of Financial Statements [Lite Items]
Number of business segments | Segment	1
Percentage of workforce reduction of employees	46%
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Cash and cash equivalents and short term investments	$ 63,161
Accumulated deficit	$ (309,544)	$ (299,781)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2024	Mar. 31, 2023
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized		$ 129,000
Revenues		$ 383,000	$ 113,000
Subscriptions term		30 days
Minimum
Summary Of Significant Accounting Policies [Line Items]
Subscriptions term	3 months
Middle
Summary Of Significant Accounting Policies [Line Items]
Subscriptions term	6 months
Maximum
Summary Of Significant Accounting Policies [Line Items]
Subscriptions term	1 year
Product Revenue
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized		$ 80,000
Collaboration Revenue
Summary Of Significant Accounting Policies [Line Items]
Revenues		$ 0	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Product Type Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 383,000	$ 113,000
EndeavorOTC revenue
Summary Of Significant Accounting Policies [Line Items]
Revenues	254,000	0
EndeavorRx revenue
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 129,000	$ 113,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Contract Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Accounting Policies [Abstract]
Beginning balance	$ 100
Revenue recognized	129
Revenue deferred	(191)
Ending balance	$ 38

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Prepaid Expense, Current [Abstract]
Prepaid expenses and other current assets	$ 1,513	$ 2,275

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Write-down in right-of-use asset	$ 1,442	$ 1,577

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, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued bonus	$ 454	$ 2,355
Accrued royalties	139	150
Accrued wages and benefits	136	200
Accrued clinical study expenses	19	12
Accrued consulting service expenses	45	129
Other accrued expenses	1,001	480
Total	$ 1,794	$ 3,326

Corporate Bond - Additional Inf

Corporate Bond - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Mar. 31, 2019
Debt Instrument [Line Items]
Corporate bond	$ 5,000,000		$ 5,000,000
Corporate Bond Securities
Debt Instrument [Line Items]
Amortization expense	$ 61,000	$ 54,000
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, 2024	Dec. 31, 2023
Subordinated Borrowings [Abstract]
Corporate bond	$ 5,000	$ 5,000
Unamortized discount on corporate bond	(2,885)	(2,946)
Corporate bond, net of discount	$ 2,115	$ 2,054

Note Payable - Additional Infor

Note Payable - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Interest expense, debt	$ 453	$ 622
Interest rate	12.30%	11.80%
Selling, general and administrative expense	$ 6,892	$ 13,011
Note payable, short term	7,500		$ 7,500
Loan and Security Agreement
Debt Instrument [Line Items]
Outstanding principal amount	8,750
Interest expense, debt	101	139
Selling, general and administrative expense	$ 0	$ 42

Note Payable - Schedule of Carr

Note Payable - Schedule of Carrying Amount of Note Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Note payable, short term	$ (7,500)	$ (7,500)
Final payment	750
Note payable, long term (net of debt issuance costs)	1,671	$ 3,445
Note Payable
Debt Instrument [Line Items]
Outstanding principal	8,750
Note payable, short term	(7,500)
Final payment	750
Unamortized debt issuance costs	(329)
Note payable, long term (net of debt issuance costs)	$ 1,671

Note Payable - Future Minimum P

Note Payable - Future Minimum Principal Payments Due (Details) - Loan and Security Agreement $ in Thousands	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Remainder of 2024	$ 5,625
2025	3,125
Outstanding principal	$ 8,750

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 1,302	$ 2,759
Research and Development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	670	879
Selling, General and Administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 632	$ 1,880

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Stock-based compensation	$ 1,302	$ 2,759
Weighted average grant-date fair value of stock options granted to employees	$ 0.21	$ 1.26
Aggregate intrinsic value of stock option awards exercised	$ 54	$ 26
Stock Options
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Unrecognized compensation cost related to unvested stock options/RSUs/PSUs grants to employees	$ 8,666
Unrecognized compensation cost, expected to be recognized over a weighted-average period	2 years
Restricted Stock Units (RSUs)
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Unrecognized compensation cost related to unvested stock options/RSUs/PSUs grants to employees	$ 2,096
Unrecognized compensation cost, expected to be recognized over a weighted-average period	2 years 2 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 options/RSUs/PSUs grants to employees	$ 1,254
Unrecognized compensation cost, expected to be recognized over a weighted-average period	1 year 4 months 24 days
Earn-Out Shares to Earn-Out Service Provider
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]
Stock-based compensation	$ (136)	$ 310

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, 2024	Dec. 31, 2023
Equity [Abstract]
Number of Options, Beginning Balance	14,591,753
Number of Options, Granted	66,000
Number of Options, Cancelled	(513,456)
Number of Options, Exercised	(207,238)
Number of Options, Ending Balance	13,937,059	14,591,753
Number of Options, Exercisable	7,738,868
Number of Options, Options Vested and Expected to Vest	13,937,059
Weighted Average Exercise Price Per Share, Beginning Balance	$ 2.94
Weighted Average Exercise Price Per Share, Granted	0.25
Weighted Average Exercise Price Per Share, Cancelled	2.09
Weighted Average Exercise Price Per Share, Exercised	0.01
Weighted Average Exercise Price Per Share, Ending Balance	3	$ 2.94
Weighted Average Exercise Price Per Share, Exercisable	3.81
Weighted Average Exercise Price Per Share, Options Vested and Expected to Vest	$ 3
Weighted Average Remaining Contractual Term (in Years), Balance	7 years 1 month 9 days	7 years 3 months 21 days
Weighted Average Remaining Contractual Term (in Years), Exercisable	5 years 6 months 25 days
Weighted Average Remaining Contractual Term (in Years), Options vested and expected to vest	7 years 1 month 9 days
Aggregate Intrinsic Value, Balance	$ 3
Aggregate Intrinsic Value, Options vested and expected to vest	$ 3

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock Option Activity Weighted Average Assumptions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Equity [Abstract]
Fair value of common stock	$ 0.25	$ 1.56
Expected volatility	102.89%	99.24%
Expected term (in years)	5 years 9 months 29 days	6 years 1 month 17 days
Risk-free interest rate	4.23%	3.87%
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, 2024 $ / shares shares
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning Balance | shares	2,998,837
Granted | shares	16,000
Vested | shares	(129,530)
Forfeited | shares	(113,917)
Ending Balance | shares	2,771,390
Beginning Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 0.89
Granted, Weighted-Average Grant Date Fair Value | $ / shares	0.32
Vested, Weighted-Average Grant Date Fair Value | $ / shares	1.77
Forfeited, Weighted-Average Grant Date Fair Value | $ / shares	0.87
Ending Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 0.85
Performance Stock Units (PSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning Balance | shares	2,028,134
Forfeited | shares	(284,650)
Ending Balance | shares	1,743,484
Beginning Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 1.5
Forfeited, Weighted-Average Grant Date Fair Value | $ / shares	1.5
Ending Balance, Weighted-Average Grant Date Fair Value | $ / shares	$ 1.5

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Fair Value of Assets and Liabilities on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Money Market Funds
Assets
Cash equivalents	$ 50,252	$ 61,539
Money Market Funds | Fair Value, Inputs, Level 1
Assets
Cash equivalents	50,252	61,539
Earn-Out Liabilities
Long-term liabilities:
Total liabilities	608	1,632
Earn-Out Liabilities | Fair Value, Inputs, Level 3
Long-term liabilities:
Total liabilities	$ 608	$ 1,632

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, 2024 USD ($)
Business Acquisition [Line Items]
Fair value as of December 31, 2023	$ 1,632
Change in fair value	(1,024)
Fair value as of March 31, 2024	608
Earn-Out Shareholders
Business Acquisition [Line Items]
Fair value as of December 31, 2023	1,415
Change in fair value	(888)
Fair value as of March 31, 2024	527
Earn-Out Service Providers
Business Acquisition [Line Items]
Fair value as of December 31, 2023	217
Change in fair value	(136)
Fair value as of March 31, 2024	$ 81

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, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Fair value, transfers of financial instruments between levels	$ 0
Earn-out shares, share price	$ 0.29
Earn-out shares, expected term	3 years 4 months 24 days
Earn-out shares, expected volatility rate	122.50%
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
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 ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net loss attributable to common stockholders - basic	$ (9,763)	$ (20,711)
Net loss attributable to common stockholders - diluted	$ (9,763)	$ (20,711)
Denominator:
Weighted average common stock outstanding - basic	78,526,669	78,079,013
Weighted average effect of potentially dilutive securities:
Weighted average common stock outstanding - diluted	78,526,669	78,079,013
Net loss per share attributable to common stockholders - basic	$ (0.12)	$ (0.27)
Net loss per share attributable to common stockholders - diluted	$ (0.12)	$ (0.27)

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, 2024	Mar. 31, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	26,121,972	26,644,244
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	133,578
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	13,937,059	12,773,849
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	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	2,771,390	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	1,743,484	4,554,408

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Millions			3 Months Ended
	Apr. 30, 2024 USD ($) Employees	Apr. 26, 2024 USD ($)	Jun. 30, 2024 USD ($)
Forecast
Subsequent Event [Line Items]
Restructuring costs			$ 2.8
Subsequent Event
Subsequent Event [Line Items]
Restructuring operations announcement date	Apr. 30, 2024
Number of employees related to restructuring | Employees	31
Percentage of employee base at time of restructuring	46%
Restructuring costs	$ 2.3
Shinogi And Company Limited | Subsequent Event
Subsequent Event [Line Items]
Royality payments receivable		$ 10.5
Maximum consideration of certain development and support services receivable		3.5
Additional consideration of certain development and support services payments receivable		1
Maximum consideration of certain development and support services receivable within 30 days		1.5
Milestone payments receivable		3
Shinogi And Company Limited | Subsequent Event | Corporate Bond
Subsequent Event [Line Items]
Cancelled corporate bond		$ 5