Singular Genomics Systems (OMIC) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Entity Registrant Name	SINGULAR GENOMICS SYSTEMS, INC.
Entity Central Index Key	0001850906
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Trading Symbol	OMIC
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,058,523
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity File Number	001-40443
Entity Tax Identification Number	81-2948451
Entity Address, Address Line One	10931 N. Torrey Pines Road
Entity Address, Address Line Two	Suite #100
Entity Address, City or Town	La Jolla
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92037
City Area Code	858
Local Phone Number	333-7830
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 239,263	$ 11,688
Short-term investments	117,750	15,231
Prepaid expenses and other current assets	7,214	652
Total current assets	364,227	27,571
Property and equipment, net	4,917	2,368
Restricted cash	687	482
Other noncurrent assets	1,000	81
Total assets	370,831	30,502
Current liabilities:
Accounts payable	2,390	427
Accrued expenses	3,443	1,592
Current portion of long term debt, net of issuance costs	0	926
Warrant liability	0	451
Other current liabilities	158	294
Total current liabilities	5,991	3,690
Long-term debt, net of issuance costs	9,868	8,469
Other noncurrent liabilities	2,904	714
Total liabilities	18,763	12,873
Commitments and contingencies (Note 7)
Stockholders' equity (deficit):
Common stock, $0.0001 par value; 400,000,000 and 60,272,685 shares authorized, 71,934,170 and 10,816,937 of shares outstanding at September 30, 2021 and December 31, 2020, respectively	7	1
Additional paid-in capital	484,202	1,552
Accumulated other comprehensive (loss) gain	(5)	17
Accumulated deficit	(132,136)	(53,125)
Total stockholders' equity (deficit)	352,068	(51,555)
Total liabilities, convertible preferred stock and stockholders' equity	370,831	30,502
Series Seed Convertible Preferred Stock [Member]
Current liabilities:
Convertible preferred stock, par value:	0	4,486
Series A Convertible Preferred Stock [Member]
Current liabilities:
Convertible preferred stock, par value:	0	19,908
Series B Convertible Preferred Stock [Member]
Current liabilities:
Convertible preferred stock, par value:	$ 0	$ 44,790

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Temporary equity, shares authorized	39,020,122
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	400,000,000	60,272,685
Common stock, shares outstanding	71,934,170	10,816,937
Series Seed Convertible Preferred Stock [Member]
Temporary equity, par value per share	$ 0.0001	$ 0.0001
Temporary equity, shares authorized	6,520,790	6,520,790
Temporary equity, shares issued	0	6,520,790
Temporary equity, shares outstanding	0	6,520,790
Temporary equity, liquidation preference	$ 0	$ 4,499,998
Series A Convertible Preferred Stock [Member]
Temporary equity, par value per share	$ 0.0001	$ 0.0001
Temporary equity, shares authorized	12,932,429	12,932,429
Temporary equity, shares issued	0	12,932,429
Temporary equity, shares outstanding	0	12,932,429
Temporary equity, liquidation preference	$ 0	$ 20,000,002
Series B Convertible Preferred Stock [Member]
Temporary equity, par value per share	$ 0.0001	$ 0.0001
Temporary equity, shares authorized	19,566,903	19,566,903
Temporary equity, shares issued	0	19,373,169
Temporary equity, shares outstanding	0	19,373,169
Temporary equity, liquidation preference	$ 0	$ 44,999,997

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating expenses:
Research and development	$ 8,910	$ 6,080	$ 23,200	$ 15,431
Selling, General and Administrative	8,551	1,698	18,406	4,518
Total operating expenses	17,461	7,778	41,606	19,949
Loss from operations	(17,461)	(7,778)	(41,606)	(19,949)
Other income (expense):
Interest income	91	76	223	444
Interest expense	(234)	(202)	(654)	(503)
Change in fair value of convertible promissory notes	0		35,199	0
Change in fair value of warrant liability	0	(49)	(2,180)	(49)
Other (expense) income	(7)	20	405	24
Net loss	$ (17,611)	$ (7,933)	$ (79,011)	$ (20,033)
Basic and diluted net loss per share	$ (0.25)	$ (0.74)	$ (2.05)	$ (1.91)
Weighted-average shares used in computing net loss per share, basic and diluted	71,721,861	10,726,496	38,553,685	10,507,732

Condensed Statements of Compreh

Condensed Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net loss	$ (17,611)	$ (7,933)	$ (79,011)	$ (20,033)
Other comprehensive loss:
Unrealized (loss) gain on available-for-sale securities	(22)	(6)	(22)	24
Comprehensive loss	$ (17,633)	$ (7,939)	$ (79,033)	$ (20,009)

Condensed Statements of Preferr

Condensed Statements of Preferred Stock and Stockholders' Equity/(Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Series Seed Convertible Preferred Stock [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit [Member]
Temporary equity, Balance at Dec. 31, 2019		$ 4,486	$ 19,908	$ 44,820
Temporary equity, Balance (in shares) at Dec. 31, 2019		6,520,790	12,932,429	19,373,169
Balance at Dec. 31, 2019	$ (24,725)				$ 1	$ 440	$ 14	$ (25,180)
Balance (in shares) at Dec. 31, 2019					10,063,023
Vesting of restricted common stock (in shares)					420,833
Vesting of common stock issued for early exercise of stock options	8					8
Vesting of common stock issued for early exercise of stock options (in shares)					6,445
Issuance of common stock in connection with exercise of stock options	4					4
Issuance of common stock in connection with exercise of stock options (in shares)					18,124
Stock-based compensation	239					239
Unrealized gain (loss) on available- for-sale marketable securities	(542)						(542)
Net loss	(6,847)
Temporary equity, Balance at Mar. 31, 2020		$ 4,486	$ 19,908	$ 44,820
Temporary equity, Balance (in shares) at Mar. 31, 2020		6,520,790	12,932,429	19,373,169
Balance at Mar. 31, 2020	(30,269)				$ 1	691	(528)	(30,433)
Balance (in shares) at Mar. 31, 2020					10,508,425
Temporary equity, Balance at Dec. 31, 2019		$ 4,486	$ 19,908	$ 44,820
Temporary equity, Balance (in shares) at Dec. 31, 2019		6,520,790	12,932,429	19,373,169
Balance at Dec. 31, 2019	(24,725)				$ 1	440	14	(25,180)
Balance (in shares) at Dec. 31, 2019					10,063,023
Net loss	(20,033)
Temporary equity, Balance at Sep. 30, 2020		$ 4,486	$ 19,908	$ 44,790
Temporary equity, Balance (in shares) at Sep. 30, 2020		6,520,790	12,932,429	19,373,169
Balance at Sep. 30, 2020	(43,933)				$ 1	1,242	38	(45,213)
Balance (in shares) at Sep. 30, 2020					10,788,091
Temporary equity, Balance at Mar. 31, 2020		$ 4,486	$ 19,908	$ 44,820
Temporary equity, Balance (in shares) at Mar. 31, 2020		6,520,790	12,932,429	19,373,169
Balance at Mar. 31, 2020	(30,269)				$ 1	691	(528)	(30,433)
Balance (in shares) at Mar. 31, 2020					10,508,425
Vesting of restricted common stock (in shares)					229,167
Vesting of common stock issued for early exercise of stock options	7					7
Vesting of common stock issued for early exercise of stock options (in shares)					8,143
Issuance of common stock in connection with exercise of stock options	2					2
Issuance of common stock in connection with exercise of stock options (in shares)					3,330
Stock-based compensation	260					260
Unrealized gain (loss) on available- for-sale marketable securities	572						572
Net loss								(6,847)
Temporary equity, Balance at Jun. 30, 2020		$ 4,486	$ 19,908	$ 44,820
Temporary equity, Balance (in shares) at Jun. 30, 2020		6,520,790	12,932,429	19,373,169
Balance at Jun. 30, 2020	(36,275)				$ 1	960	44	(37,280)
Balance (in shares) at Jun. 30, 2020					10,749,065
Conversion of preferred stock into common stock, issued				$ 30
Vesting of common stock issued for early exercise of stock options	7					7
Vesting of common stock issued for early exercise of stock options (in shares)					11,918
Issuance of common stock in connection with exercise of stock options	4					4
Issuance of common stock in connection with exercise of stock options (in shares)					27,108
Stock-based compensation	270					271
Unrealized gain (loss) on available- for-sale marketable securities	(6)						(6)
Net loss	(7,933)							(7,933)
Temporary equity, Balance at Sep. 30, 2020		$ 4,486	$ 19,908	$ 44,790
Temporary equity, Balance (in shares) at Sep. 30, 2020		6,520,790	12,932,429	19,373,169
Balance at Sep. 30, 2020	(43,933)				$ 1	1,242	38	(45,213)
Balance (in shares) at Sep. 30, 2020					10,788,091
Temporary equity, Balance at Dec. 31, 2020		$ 4,486	$ 19,908	$ 44,790
Temporary equity, Balance (in shares) at Dec. 31, 2020		6,520,790	12,932,429	19,373,169
Balance at Dec. 31, 2020	(51,555)				$ 1	1,552	17	(53,125)
Balance (in shares) at Dec. 31, 2020					10,816,937
Vesting of common stock issued for early exercise of stock options	92					92
Vesting of common stock issued for early exercise of stock options (in shares)					151,343
Issuance of common stock in connection with exercise of stock options	995					995
Issuance of common stock in connection with exercise of stock options (in shares)					1,855,904
Stock-based compensation	1,096					1,096
Unrealized gain (loss) on available- for-sale marketable securities	(49)						(49)
Net loss	(23,921)							(23,921)
Temporary equity, Balance at Mar. 31, 2021		$ 4,486	$ 19,908	$ 44,790
Temporary equity, Balance (in shares) at Mar. 31, 2021		6,520,790	12,932,429	19,373,169
Balance at Mar. 31, 2021	(73,342)				$ 1	3,735	(32)	(77,046)
Balance (in shares) at Mar. 31, 2021					12,824,184
Temporary equity, Balance at Dec. 31, 2020		$ 4,486	$ 19,908	$ 44,790
Temporary equity, Balance (in shares) at Dec. 31, 2020		6,520,790	12,932,429	19,373,169
Balance at Dec. 31, 2020	$ (51,555)				$ 1	1,552	17	(53,125)
Balance (in shares) at Dec. 31, 2020					10,816,937
Conversion of preferred stock into common stock, converted (in shares)	(38,826,388)	(6,520,790)
Issuance of common stock in connection with exercise of stock options (in shares)	5,415,875
Net loss	$ (79,011)
Temporary equity, Balance (in shares) at Sep. 30, 2021		0	0	0
Balance at Sep. 30, 2021	352,068				$ 7	484,202	(5)	(132,136)
Balance (in shares) at Sep. 30, 2021					71,934,170
Temporary equity, Balance at Mar. 31, 2021		$ 4,486	$ 19,908	$ 44,790
Temporary equity, Balance (in shares) at Mar. 31, 2021		6,520,790	12,932,429	19,373,169
Balance at Mar. 31, 2021	(73,342)				$ 1	3,735	(32)	(77,046)
Balance (in shares) at Mar. 31, 2021					12,824,184
Conversion of preferred stock into common stock, converted	(69,184)	$ 4,486	$ 19,908	$ 44,790	$ (4)	(69,180)
Conversion of preferred stock into common stock, converted (in shares)		6,520,790	12,932,429	19,373,169	(38,826,388)
Conversion of the 2021 Notes into common stock	165,699				$ 1	165,698
Conversion of the 2021 Notes into common stock (in shares)					7,531,777
Issuance of common stock upon initial public offering, net of issuance costs	237,199				$ 1	237,198
Issuance of common stock upon initial public offering, net of issuance costs (in shares)					11,730,000
Cashless exercise of common stock warrant						2,631
Cashless exercise of common stock warrant (in shares)					117,088
Vesting of common stock issued for early exercise of stock options	230					230
Vesting of common stock issued for early exercise of stock options (in shares)					378,146
Issuance of common stock in connection with exercise of stock options	66					66
Issuance of common stock in connection with exercise of stock options (in shares)					118,744
Stock-based compensation	2,341					2,341
Unrealized gain (loss) on available- for-sale marketable securities	49						49
Net loss	(37,479)							(37,479)
Balance at Jun. 30, 2021	366,578				$ 7	481,079	17	(114,525)
Balance (in shares) at Jun. 30, 2021					71,526,327
Vesting of common stock issued for early exercise of stock options	236					236
Vesting of common stock issued for early exercise of stock options (in shares)					382,040
Issuance of common stock in connection with exercise of stock options	28					28
Issuance of common stock in connection with exercise of stock options (in shares)					25,803
Stock-based compensation	2,859					2,859
Unrealized gain (loss) on available- for-sale marketable securities	(22)						(22)
Net loss	(17,611)							(17,611)
Temporary equity, Balance (in shares) at Sep. 30, 2021		0	0	0
Balance at Sep. 30, 2021	$ 352,068				$ 7	$ 484,202	$ (5)	$ (132,136)
Balance (in shares) at Sep. 30, 2021					71,934,170

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (79,011)	$ (20,033)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	769	441
Loss on disposal of property and equipment	94	0
Stock-based compensation	6,296	770
Change in fair value of convertible promissory notes	35,199	0
Change in fair value of warrant liability	2,180	49
Amortization of premium on short -term investments	1,364	74
Accretion of debt issuance costs	243	157
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(6,025)	(345)
Other long-term assets	(919)	0
Accounts payable	1,643	(5)
Accrued expenses	1,851	858
Other current liabilities	(136)	91
Other noncurrent liabilities	450	56
Net cash used in operating activities	(36,002)	(17,887)
Investing activities
Purchases of short-term investments	(146,070)	(6,086)
Sales of short-term investments	26,579	15,433
Maturities of shot-term investments	15,049	8,146
Purchases of property and equipment	(3,094)	(1,143)
Net cash (used) in / provided by investing activities	(107,536)	16,350
Financing activities
Proceeds from initial public offering, net of issuance costs	237,199
Proceeds from issuance of convertible promisorry notes	130,500	0
Proceeds from issuance of debt	10,500	7,500
Proceeds from exercise of stock options, net of repurchases	3,519	17
Repayments of debt principal and issuance costs in connection with refinancing	(10,400)
Issuance costs in connection with Series B convertible preferred stock		(30)
Net cash provided by financing activities	371,318	7,487
Increase in cash and cash equivalents and restricted cash	227,780	5,950
Cash and cash equivalents and restricted cash, beginning of year	12,170	5,523
Cash and cash equivalents and restricted cash, end of year	239,950	11,473
Supplemental disclosure for cash activities
Interest paid	449	312
Supplemental disclosure for non-cash activities
Vesting of restricted stock	558	22
Conversion of preferred stock to common stock	69,184	0
Conversion of convertible promissory notes to common stock	165,699	0
Purchase of property plant and equipment included in accounts payable	319	66
Warrants issued in connection with issuance of long-term debt	$ 0	$ 189

Business

Business	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business And Basis of Presentation	1. Business Description of Business Singular Genomics Systems, Inc. (the “Company”) is a life science technology company that is leveraging novel next-generation sequencing (“NGS”) and multiomics technology to build products that are designed to empower researchers and clinicians to advance science and medicine. The Company developed a novel and proprietary NGS technology, which it refers to as its Sequencing Engine. This Sequencing Engine is the foundational platform technology that forms the basis of the Company’s products in development. The Company is currently developing two integrated solutions that are purpose-built to target specific applications. Its first integrated solution is targeted at the NGS market and comprises the G4 Instrument and an associated menu of consumable kits, which is referred to collectively as the G4 Integrated Solution. The G4 Instrument is a benchtop next-generation sequencer designed to produce fast and accurate genetic sequencing results. The integrated purpose-built kits that run on the G4 Instrument address specific applications in fast-growing markets including oncology and immune profiling. The Company’s second integrated solution in development comprises the PX Instrument and an associated menu of consumable kits, which is referred to collectively as the PX Integrated Solution. Leveraging sequencing as a universal readout, the PX Integrated Solution combines single-cell analysis, spatial analysis, genomics and proteomics in one integrated instrument providing a versatile multiomics solution. The Company was incorporated in the state of Delaware in June 2016 and has its principal operations in La Jolla, California. Initial Public Offering On June 1, 2021, the Company closed its initial public offering (“ IPO”) in which it sold 11,730,000 shares of common stock (which included 1,530,000 shares that were sold pursuant to the full exercise of the IPO underwriters’ option to purchase additional shares) at a public offering price of $ 22.00 per share. The Company received net proceeds of approximately $ 237.2 million after deducting offering costs, underwriting discounts and commissions of $ 20.9 million. Concurrent with the closing of the IPO:  38,826,388 outstanding shares of convertible preferred stock converted into an equivalent number of shares of common stock;  outstanding principal and interest amount of convertible promissory notes (the “2021 Convertible Notes” ) converted into 7,531,777 shares of common stock; and  a warrant to purchase 129,156 shares of convertible preferred stock (the “SVB Warrant”) was automatically adjusted to become a warrant to purchase an equivalent number of shares of common stock. Liquidity and Capital Resources The Company has incurred net losses since inception and, as of September 30, 2021 and December 31, 2020, had an accumulated deficit of $132.1 million and $53.1 million, respectively. The Company has a limited operating history and the revenue and income potential of the Company’s business are unproven. From incorporation in June 2016 through September 30, 2021, substantially all of the Company’s operations have been funded by the sales of equity securities and issuances of debt. As of September 30, 2021, the Company had cash, cash equivalents and short-term investments of $ 357.0 million . The Company believes that its cash, cash equivalents and short-term investments as of September 30, 2021 are sufficient to fund its operations for at least 12 months from the issuance date of the accompanying unaudited condensed financial statements .

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Use of Estimates The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for annual financial statements have been omitted. In the opinion of management, all adjustments, consisting of normal recurring adjustments considered necessary for fair presentation, have been included. Interim financial results are not necessarily indicative of results anticipated for the full year. The preparation of the Company’s unaudited condensed financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s unaudited condensed financial statements and accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may significantly differ from these estimates and assumptions. Significant estimates and assumptions include the fair value of the 2021 Convertible Notes, the fair value of the liability for the SVB Warrant, the fair value of the Company’s preferred and common stock, stock-based compensation and the useful lives of property and equipment. Cash, Cash Equivalents and Restricted Cash Cash and Cash Equivalents Cash and cash equivalents include cash readily available in checking, savings, money market and sweep accounts. The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Restricted Cash Restricted cash is held in a separate restricted bank account as the collateral for the security deposits on three executed lease agreements and as the collateral on the Company’s corporate credit card program. The Company has classified restricted cash as noncurrent on its balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets (in thousands): September 30, December 31, Cash and cash equivalents $ 239,263 $ 11,688 Restricted cash 687 482 Total $ 239,950 $ 12,170 Concentration of Credit Risk Financial instruments, which potentially subject the Company to a concentration of credit risk, consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Short-term Investments As of September 30, 2021 and December 31, 2020, short-term investments primarily consisted of corporate debt securities and asset-backed securities. The Company classifies its investments in securities as available-for-sale because, for accounting purposes, they are not considered to be either held-to-maturity securities or trading securities. They are not considered to be held-to-maturity securities because the Company does not have the positive intent to hold those securities to maturity. They are not considered trading securities because they are not acquired with the intent of selling them within hours or days. The Company’s investments in securities are classified as current as they are available for use in current operations. Short-term investments are carried at fair value with the unrealized gains and losses included in other comprehensive income (loss) as a component of stockholders’ equity until realized. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity and recorded as interest income. Realized gains and losses are determined using the specific identification method and are included in other income (expense). The following tables summarize the short-term investments held at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Amortized Gross Estimated Asset-backed securities $ 28,377 $ ( 9 ) $ 28,368 Corporate debt securities 89,378 4 89,382 $ 117,755 $ ( 5 ) $ 117,750 December 31, 2020 Amortized Gross Estimated Asset-backed securities $ 3,938 $ 5 $ 3,943 Corporate debt securities 11,276 12 11,288 $ 15,214 $ 17 $ 15,231 The following table summarizes contractual maturities of available-for-sale securities held at September 30, 2021 and December 31, 2020 (in thousands): September 30, December 31, Estimated Estimated Due within one year $ 85,263 $ 9,559 After one but within five years 32,487 5,672 Total $ 117,750 $ 15,231 The Company determined there was no other-than-temporary impairment of any of its investments. Property and Equipment, Net Property and equipment, net, which consists primarily of lab equipment, computers and software, furniture and fixtures and leasehold improvements, are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets (generally three to five years ). Leasehold improvements are amortized over the remaining life of the lease or the useful life of the asset, whichever is shorter. Repairs and maintenance costs are charged to expense as incurred. Deferred Rent Rent expense is recognized on a straight-line basis over the lease term. The difference between rent expense and amounts paid under the lease agreement is deferred and recorded in other current and noncurrent liabilities in the accompanying balance sheets. Impairment of Long-lived Assets Long-lived assets consist primarily of property and equipment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Fair value would be assessed using discounted cash flows or other appropriate measures of fair value. The Company did no t recognize any impairment losses for the nine months ended September 30, 2021 and September 30, 2020 , respectively. Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP and consist primarily of cash, cash equivalents, short-term investments, restricted cash, accounts payable, accrued liabilities, the 2021 Convertible Notes and the SVB Warrant. The carrying amounts of cash, cash equivalents, accounts payable, and accrued liabilities approximate their fair values due to the short-term nature of these instruments. None of the Company’s non-financial assets or liabilities are recorded at fair value on a recurring basis. As permitted under Accounting Standards Codification (“ASC”) 825, Financial Instruments (“ASC 825”), the Company has elected the fair value option to account for its 2021 Convertible Not es and SVB Warrant. C hanges in the fair value of the 2021 Convertible Notes and the SVB Warrant were recorded in the statements of operations. As a result of applying the fair value option, direct costs and fees related to the 2021 Convertible Notes were recognized as incurred and not deferred. In June 2021, in connection with the IPO completion, the 2021 Convertible Notes converted into the Company’s common stock and the SVB Warrant was automatically adjusted into a warrant to purchase an equivalent number of shares of common stock. There are significant judgments and estimates inherent in the determination of the fair value of these liabilities. If the Company had made different assumptions including, among others, those related to the timing and probability of various corporate scenarios, discount rates, volatilities and exit valuations, the carrying values of the 2021 Convertible Notes and SVB Warrant, and net loss and net loss per share, could have been significantly different. Research and Development Expense The Company’s research and development expense consists primarily of: salaries, payroll taxes, employee benefits and stock-based compensation for personnel engaged in research and development activities; fees paid to consultants; license fees paid to third parties for use of their intellectual property, laboratory supplies and development materials; allocated information technology and facilities costs; and depreciation. Research and development costs are charged to expense as incurred. Patent Costs Costs related to filing and pursuing patent applications are recorded as selling, general and administrative expenses within the Company’s statements of operations and expensed as incurred since recoverability of such expenditures is uncertain . Issuance Costs Related to Equity and Debt The Company allocates issuance costs between the individual freestanding instruments identified on the same basis as proceeds were allocated. Issuance costs associated with the issuance of debt is recorded as a direct reduction of the carrying amount of the debt liability, limited to the notional value of the debt. The Company accounts for the Silicon Valley Bank loan (see Note 6) as a liability measured at amortized cost and amortizes the related debt discount to interest expense using the effective interest method over the expected term of the debt. Stock-based Compensation The Company accounts for stock-based compensation by measuring and recognizing compensation expense for all stock-based awards made to employees and non-employees based on estimated grant-date fair values. The Company uses the straight-line method to recognize compensation cost over the required service period of the award, which is generally the vesting period of the award. The Company recognizes actual forfeitures by reducing the stock-based compensation in the same period that the forfeitures occur. The Company estimates the fair value of stock-based option awards to employees and non-employees using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of subjective assumptions, including the fair value of common stock, expected term, expected volatility, risk-free interest rate and expected dividend yield, which are described in greater detail below. Inputs to the Black-Scholes option pricing model are subjective and generally require the use of judgment. Changes in the assumptions can materially affect how much stock-based compensation is recognized. These inputs are as follows:  Fair value of common stock — For awards granted prior to the IPO, when there was no public market for the Company’s common stock, the grant date fair value of the Company’s common stock was determined by the Company’s board of directors based in part on valuations of the Company’s common stock prepared by a third-party valuation specialist. In connection with the preparation of the financial statements for the year ended December 31, 2020, the Company performed a retrospective review of the fair value of its common stock based on information then available. For awards granted after the IPO, the fair value of common stock is the closing price per share of the Company’s common stock on the grant date as reported on the Nasdaq Global Select Market.  Expected term —The expected term represents the average period that options granted are expected to be outstanding and is determined using the simplified method (based on the mid-point between the weighted-average vesting period and the end of the contractual term). The Company uses the simplified method because the Company has concluded that its historical option exercise experience does not provide a reasonable basis to estimate expected term.  Expected volatility —The Company had no publicly available stock price information prior to its IPO and limited publicly available stock price information after its IPO; therefore, the Company used the historical volatility of the stock price of similar publicly traded companies. The historical volatility is calculated based on a period of time commensurate with the expected term.  Risk-free interest rate —The risk-free interest rate is based on the U.S. Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term.  Expected dividend yield —The Company has never paid dividends and does not intend to pay dividends in the foreseeable future. Therefore, the Company used an expected dividend yield of zero. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized as income or expense in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce any provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby: (i) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position; and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50% likely to be realized upon ultimate settlement with the related tax authority. The Company will recognize interest and penalties related to unrecognized tax benefits within income tax expense. Comprehensive Income (Loss) Comprehensive income (loss) is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The only component of other comprehensive income (loss) is unrealized gain (loss) on available-for-sale securities, which have been reflected in the statements of comprehensive loss and as a separate component in the statements of preferred stock and stockholders’ equity (deficit). Net Loss per Share In periods of net loss, basic loss per share is computed by dividing net loss available to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. For periods prior to the IPO, the convertible preferred stock contain non-forfeitable rights to dividends with the common stockholders, and therefore are considered to be participating securities. Outstanding stock options, the SVB Warrant, convertible preferred stock and shares of common stock subject to repurchase by the Company are excluded from the calculation of diluted net loss per common share for the periods presented as their effect would be anti-dilutive. Thus, for all periods presented, there is no difference in the number of shares used to calculate basic and diluted net loss per share. Segment Information Operating segments are components of a public entity that: (a) engage in business activities from which they may recognize revenues and incur expenses; (b) have operating results that are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and (c) have discrete financial information available. The Company views its operations and manages its business as one operating segment, and thus has one reportable segment. The Company’s long-lived assets are located in the United States. Recent Accounting Pronouncements—Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). The standard establishes a right-of-use model and requires a lessee to recognize on the balance sheet a right-of-use asset and corresponding lease liability for all leases with terms longer than 12 months. For lessees, leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 is effective for the Company’s annual periods beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, and early adoption is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its financial statements and related disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments–Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. ASU 2016-13 is effective for the Company’s annual periods beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its financial statements and related disclosures. In November 2018, the FASB issued ASU No. 2018-18 (“ASU 2018-18”), which clarifies the interaction between ASC Topic 808, Collaborative Arrangements , and ASC Topic 606, Revenue from Contracts with Customers . This guidance, among other items, clarifies that certain transactions between collaborative participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account. ASU 2018-18 is effective for the Company’s fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The Company does not expect the impact of the adoption of this standard to materially impact its financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part of its initiative to reduce complexity in accounting standards. The ASU is effective for the Company’s fiscal years beginning after December 15, 2021, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company does not expect the impact of the adoption of this standard to materially impact its financial statements and related disclosures.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements For accounting purposes, fair value is defined as an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. When quoted market prices are available in active markets, the fair value of assets and liabilities is estimated within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using pricing models, quoted prices of assets and liabilities with similar characteristics, or discounted cash flows, within Level 2 of the valuation hierarchy. In cases where Level 1 or Level 2 inputs are not available, the fair values are estimated by using inputs within Level 3 of the hierarchy. None of the Company’s assets or liabilities are recorded at fair value on a recurring basis other than cash and cash equivalents, short-term investments, the liability for the SVB Warrant and the 2021 Convertible Notes prior to their conversion. No transfers between levels occurred during the periods presented. The fair value of short-term investments is based on market prices quoted on the last day of the fiscal period or other observable market inputs. The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Assets: Level 1 Level 2 Level 3 Total Cash and money market funds $ 239,263 $ - $ - $ 239,263 Asset-backed securities - 28,368 - 28,368 Corporate debt securities - 89,382 - 89,382 Total assets $ 239,263 $ 117,750 $ - $ 357,013 December 31, 2020 Assets: Level 1 Level 2 Level 3 Total Cash and money market funds $ 11,688 $ - $ - $ 11,688 Asset-backed securities - 3,943 - 3,943 Corporate debt securities - 11,288 - 11,288 Total assets $ 11,688 $ 15,231 $ - $ 26,919 Liabilities: Warrant liability $ - $ - $ 451 451 Total liabilities $ - $ - $ 451 $ 451 SVB Warrant In November 2019, simultaneously with the first draw-down under its 2019 SVB Loan (see Note 6), SVB entered into a warrant agreement with the Company to purchase 32,289 shares of Series B convertible preferred stock of the Company at an exercise price of $ 2.3228 per share (as amended, the “SVB Warrant”). In March 2020, in connection with the Company’s second draw-down under the 2019 SVB Loan, the SVB Warrant was amended to increase the number of shares of Series B convertible preferred stock of the Company by 96,867 , to a total of 129,156 shares. In connection with the completion of the Company’s IPO, in accordance with the original terms the warrant instrument, the SVB Warrant was automatically adjusted into a warrant to purchase an equivalent number of shares of common stock. In June 2021, after the IPO, SVB net exercised the SVB Warrant into 117,088 shares of common stock of the Company, and the SVB Warrant is no longer outstanding as of September 30, 2021. The fair value of the SVB Warrant liability was remeasured at each financial reporting period with any changes in fair value recognized as other income (expense) in the statements of operations. The fair value for the warrant liability for the SVB Warrant was based on the Black-Scholes option pricing valuation model using significant inputs not observable in the market and was thus classified within Level 3 of the fair value hierarchy. The change in fair value of the warrant for the nine months ended September 30, 2021 and 2020 was $2.2 million and $ 49 thousand, respectively. When, in connection with the IPO, the SVB Warrant was automatically adjusted into a warrant to purchase an equivalent number of shares of common stock, the warrant liability was reclassified from current liabilities to equity as the warrant met the definition of an equity instrument. Additionally, at that time, the Company recorded the final valuation of the warrant liability for the SVB Warrant . The following table provides a roll forward of the SVB Warrant liability measured at fair value for the nine months ended September 30, 2021 (in thousands): Balance at December 31, 2020 $ 451 Change in fair value of warrant through conversion 2,180 Reclassification of warrant liability into equity ( 2,631 ) Balance at September 30, 2021 $ - Below are the assumptions used in the Black-Scholes option pricing model for the fair value of the SVB Warrant liability as of the closing of the IPO, when the SVB Warrant was automatically adjusted into a warrant to purchase an equivalent number of shares of common stock , and December 31, 2020: December 31, Assumption At IPO 2020 Fair value of underlying ($) 22.00 4.59 Expected volatility 62.00 % 60.00 % Expected term (years) 8.47 8.99 Expected dividend yield 0.00 % 0.00 % Risk-free interest rate 1.62 % 0.93 % The fair value of the Series B convertible preferred stock underlying the SVB Warrant prior to the conversion of the Series B convertible preferred stock was estimated by management with the assistance of a third-party valuation specialist. The expected volatility was based on historical volatilities from guideline companies, since there was no active market for the Company’s preferred stock or common stock. The Company based the expected term assumption on the actual remaining contractual term of the warrant as of the date of measurement. The Company has not paid dividends and does not intend to pay dividends in the foreseeable future . The risk-free interest rate used was the rate for a U.S. Treasury zero-coupon issue with a term consistent with the remaining contractual term of the SVB Warrant on the date of measurement. 2021 Convertible Notes In February 2021, the Company sold and issued approximately $ 130.5 million aggregate principal of 2021 Convertible Notes in a private placement transaction. The 2021 Convertible Notes accrued 6 % interest per annum. The Company elected as of the issuance date to account for the 2021 Convertible Notes at fair value. Management believes that the fair value option better reflected the underlying economics of the 2021 Convertible Notes, which contained multiple embedded derivatives. Under the fair value election, changes in fair value are reported as “Change in fair value of convertible promissory notes” in the statements of operations in each reporting period after the issuance through the conversion of the 2021 Convertible Notes. The Company measured the fair value of the 2021 Convertible Notes using the probability weighted “as-converted” plus Black-Scholes option pricing model based on inputs such as the probability of IPO vs. non-IPO scenarios, fair value of the common stock price, discount yield, risk-free rate, equity volatility, expected term, number of converted shares and price negotiation adjustment for the calibration. In connection with the IPO, the 2021 Convertible Notes converted into 7,531,777 shares of the Company’s common stock. Based on the terms of the agreement, the 2021 Convertible Notes converted at a 20 % discount to the public offering price in the IPO. At the time of the conversion, the Company recorded a final fair value adjustment of the 2021 Convertible Notes using the Company’s common stock price at the IPO. Balance at December 31, 2020 $ - Fair value of convertible promissory notes at issuance 130,500 Change in fair value of convertible promissory notes through conversion 35,199 Conversion of convertible promissory notes ( 165,699 ) Balance at September 30, 2021 $ - There are significant judgments, assumptions and estimates inherent in the determination of the fair value of the SVB Warrant liability and the 2021 Convertible Notes. These include the determination of a valuation method and selection of the possible outcomes available to the Company, including the determination of timing and expected future investment returns for each such scenario. The Company considered the equity value of an initial public offering using market transactions and had determined the expected value of a stay-private scenario using the income approach, which is based on assumptions regarding the Company’s future operating performance. The related judgments, assumptions and estimates are highly interrelated and changes in any one assumption could necessitate changes in another. In particular, any changes to the probability of a particular outcome would require a related change to the probability of another outcome. The fair value of the 2021 Convertible Notes is derived using assumptions that are consistent with the assumptions used to value the Company’s common stock and the SVB Warrant. As of September 30, 2021 , the Level 3 liabilities no longer exist as a result of the conversion of the 2021 Convertible Notes and as a result of the SVB Warrant becoming exercisable into common stock in connection with the IPO.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net Property and equipment, net, consisted of the following (in thousands): September 30, December 31, Useful Life 2021 2020 Equipment 5 years $ 3,854 $ 2,642 Computers and software 3 years 1,591 851 Furniture and fixtures 3 years 69 80 Leasehold improvements 4 years or less 35 35 Construction in progress N/A 1,191 - 6,740 3,608 Less: accumulated depreciation ( 1,823 ) ( 1,240 ) Total property and equipment, net $ 4,917 $ 2,368

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2021
Accrued Liabilities Current [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): September 30, December 31, 2021 2020 Accrued compensation and other employee benefits $ 2,814 $ 1,234 Accrued professional services 357 74 Accrued research and development expenses 70 44 Accrued other expenses 202 240 Total accrued expenses $ 3,443 $ 1,592

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	6. Long-term Debt Silicon Valley Bank Loan In November 2019, the Company entered into a loan and security agreement with Silicon Valley Bank (“SVB”) pursuant to which SVB agreed to lend to the Company up to $ 15.0 million in a series of term loans (the “2019 SVB Loan”). Contemporaneously, the Company borrowed $ 2.5 million in the first of three draw-downs available under the 2019 SVB Loan. In March 2020, the Company borrowed an additional $ 7.5 million as a second draw. The 2019 SVB Loan was to mature on September 1, 2023 and bore interest at an annual rate equal to the greater of (i) 0.65 % above the prime rate or (ii) 5.90 %. Payment on the 2019 SVB Loan was for interest only through September 30, 2021. In addition, a final payment equal to the original principal amount of each advance multiplied by 5.50 % was to be due on the maturity date. In connection with the 2019 SVB Loan, SVB entered into the SVB Warrant agreement with the Company to purchase shares of Series B convertible preferred stock at an exercise price of $ 2.3228 per share (see Note 3). On September 30, 2021, the Company refinanced its 2019 SVB Loan. In connection with the refinancing, the Company entered into an Amended and Restated Loan and Security Agreement (the “Amended Agreement” or “2021 SVB Loan”, together with the 2019 SVB Loan, the “SVB Loans”) with SVB. The Amended Agreement provides for term loans in an aggregate principal amount of up to $ 35.5 million to be delivered in three tranches. The tranches consist of: (i) a term loan advance to the Company in an aggregate principal amount of $ 10.5 million on the loan closing date (the “First Tranche”); (ii) an additional term loan advance available to the Company through September 30, 2022 in an aggregate principal amount of $ 15.0 million; and (iii) subject to SVB’s approval, a right of the Company to request that SVB make an additional term loan advance in an aggregate principal amount of $ 10.0 million. The proceeds from the First Tranche were used to repay in full the existing indebtedness under the 2019 SVB Loan. The 2021 SVB Loan matures on September 1, 2026 and bears interest at an annual rate equal to the greater of (i) 0.75 % plus the prime rate as reported in The Wall Street Journal and (ii) 4.00 %. The 2021 SVB Loan has an initial interest-only period of 36 months. In addition, a final payment (the “Final Payment Fee”) equal to the original principal amount of each advance multiplied by 4.00 % will be due on the maturity date. The Amended Agreement was accounted for as a debt modification, rather than an extinguishment, based on a comparison of the present value of the cash flows under the terms of the debt immediately before and after the amendment, which resulted in a change of such cash flows of less than 10%. Unamortized debt issuance costs as of the date of modification and incremental issuance costs incurred in connection with the Amended Agreement will be amortized to interest expense using the effective interest method over the repayment term. As of September 30, 2021 and December 31, 2020 , the debt issuance costs related to the SVB Loans were $ 0.6 million. Debt issuance costs include the initial fair value of the SVB Warrant. The debt issuance costs are amortized to interest expense over the term of the loan using the effective interest method. The SVB Loans and unamortized discount balances as of September 30, 2021 and December 31, 2020 are shown below (in thousands): September 30, December 31, 2021 2020 Total long-term debt $ 10,500 $ 10,000 Less: issuance costs ( 632 ) ( 605 ) Total long-term debt, net 9,868 9,395 Less current portion of long-term debt - ( 926 ) Long-term debt, net of current portion $ 9,868 $ 8,469 Future minimum payments of outstanding principal and interest under the 2021 SVB Loan are as follows: As of September 30, 2021 2021 (three months remaining) $ 106 2022 426 2023 426 2024 1,735 2025 and thereafter 9,949 Total future minimum payments 12,642 Less: interest and Final Payment Fee ( 2,142 ) Long-term debt $ 10,500 The Company is subject to customary affirmative and restrictive covenants under the Amended Agreement. The Company’s obligations under the Amended Agreement are secured by a first priority security interest in substantially all of the Company’s current and future assets, other than intellectual property. The Company has agreed not to encumber its intellectual property assets, except as permitted by the Amended Agreement. The Amended Agreement provides for events of default customary for term loan facilities of this type, including but not limited to: non-payment; breaches or defaults in the performance of covenants or representations and warranties; bankruptcy and other insolvency events of the Company; and the occurrence of a material adverse change as defined in the Amended Agreement. After the occurrence of an event of default, SVB may, among other remedies, accelerate payment of all obligations. As of September 30, 2021 and December 31, 2020, the Company was in compliance with all covenants under the Amended Agreement and 2019 SVB Loan, respectively, and there had been no events of default. 2021 Convertible Notes In February 2021, the Company issued the 2021 Convertible Notes to various investors, in the aggregate principal amount of $ 130.5 million (see Note 3). The 2021 Convertible Notes accrued interest at 6 % per annum. Due to certain embedded features within the 2021 Convertible Notes, the Company elected to account for these notes and all their embedded features under the fair value option. In June 2021, in connection with the completion of the Company’s IPO, the Notes were converted into 7,531,777 shares of the Company’s common stock.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Columbia License Agreement and Sponsored Research Agreement In 2016, the Company entered into an exclusive license agreement (the “License Agreement”) with The Trustees of Columbia University (“Columbia”). Under the License Agreement, the Company acquired the exclusive right to use certain patents, materials and information. The License Agreement includes a number of diligence obligations that require the Company to use commercially reasonable efforts to research, discover, develop and market products covered by the patents, materials and information licensed by Columbia by certain dates. The License Agreement provides for the potential payment to Columbia of development milestones and royalties on net sales of products covered by the licensed patents, materials or information. The license fee was immaterial for all periods presented. The Company does not believe that its G4 or PX Instruments or the associated consumables, as the Company presently intends to commercialize them, fit within the definitions in the License Agreement that would require the Company to make milestone payments or pay royalties on sales of these products and as a result no amounts have been accrued to date. However, there is no assurance that Columbia will agree with the Company’s interpretation of the License Agreement or its payment obligations thereunder or agree that the Company has complied with its other obligations under the License Agreement. In addition to the License Agreement, the Company entered into a sponsored research agreement to fund a research program with Columbia. The program ended in 2019. Operating Leases In November 2017, the Company entered into a non-cancelable operating lease that expires upon commencement of the New HQ Lease, as defined below (estimated second quarter of 2022). The lease includes certain rent escalations and additional charges for common area maintenance and other costs. The Company gained access to the leased space and began recognizing rent expense under this lease in February 2018. In December 2019, the Company entered into a 5-year lease agreement for additional office space in San Diego, California. The lease includes certain rent escalations and additional charges for common area maintenance and other costs. The Company gained access to the leased space and began recognizing rent expense under this lease in January 2020. In June 2020, the Company entered into a sublease agreement for an additional office space in La Jolla, California. The sublease includes certain rent escalations and additional charges for common area maintenance and other costs. The Company gained access to the leased space and began recognizing rent expense under this sublease in July 2020. In June 2020, the Company entered into a 10-year lease agreement with ARE-SD Region No. 27, LLC (the “Landlord”) for new office and laboratory space containing approximately 76,778 rentable square feet located in La Jolla, California (“New HQ Lease”), with a target commencement date in April 2022. If landlord does not deliver the premises within 120 days of the target commencement date for any reason other than force majeure delays or delays by the Company, the Company may terminate the lease and neither the Landlord nor the Company will have any further rights, duties or obligations under the New HQ Lease. The Landlord shall make available to the Company for use within 12 months after the commencement date a tenant improvement allowance (“TI Allowance”), which the Company will repay to the landlord as additional rent over the base term and shall accrue interest at a rate of 8 % per annum. Upon commencement, the contractual base rent will be charged, subject to partial rent abatement, annual base rent adjustments, the Company’s share of operating expenses and additional rent for the TI Allowance actually disbursed by the Landlord. In April 2021, the Company entered into a 62-month lease agreement for additional office space in San Diego, California. The lease includes certain rent escalations and additional charges for common area maintenance and other costs. The Company gained access to the leased space in June 2021 and began recognizing rent expense under this lease at that time. In April 2021, the Company amended its current lease for office space in La Jolla, California. The lease amendment includes extension of the current lease expiration date by 24-months subsequent to commencement of New HQ Lease, expansion of the existing premises for additional space and certain rent escalations. The Company recorded rent expense of $ 1.4 million and $ 0.3 million for the nine months ended September 30, 2021 and 2020. Future minimum payments under the Company’s non-cancelable operating leases are as follows (in thousands): As of September 30, 2021 Operating 2021 (three months remaining) $ 635 2022 6,265 2023 7,892 2024 6,394 2025 and thereafter 42,122 $ 63,308

Convertible Preferred Stock

Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Convertible Preferred Stock	8 . Convertible Preferred Stock Prior to its conversion to common stock in connection with the Company’s IPO, the convertible preferred stock was classified as temporary, or mezzanine, equity on the accompanying condensed balance sheets since the shares contained certain redemption features that were not solely within the control of the Company. The Company had not previously accreted the convertible preferred stock to its redemption value since the shares were not redeemable and redemption was not deemed to be probable. In connection with the completion of the Company’s IPO, all of the outstanding shares of convertible preferred stock were automatically converted into 38,826,388 shares of the Company’s common stock. The convertible preferred stock outstanding prior to its conversion in the IPO was as follows: Shares Authorized Shares issued Issue Period Price Per Share Aggregate Series Seed 6,520,790 6,520,790 2016 $ 0.6901 $ 4,500,000 Series A 12,932,429 12,932,429 2017 1.5465 20,000,000 Series B 19,566,903 19,373,169 2019 2.3228 45,000,000 39,020,122 38,826,388 $ 69,500,000

Stock Incentive Plan

Stock Incentive Plan	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Incentive Plan	. Stock Incentive Plan s 2021 and 2016 Equity Incentive Plans The Company’s Board of Directors and stockholders adopted and approved the Company’s 2021 Equity Incentive Plan (the “2021 Plan”) in May 2021. The 2021 Plan replaced the Company’s 2016 Equity Incentive Plan adopted in September 2016 (the “2016 Plan”); however, awards outstanding under the 2016 Plan will continue to be governed by their existing terms. The number of shares of the Company’s common stock that were initially available for issuance under the 2021 Plan equaled the sum of 7,500,000 shares plus 832,980 shares that were then available for issuance under the 2016 Plan. The 2021 Plan provides for the following types of awards: incentive and nonqualified stock options, stock appreciation rights, restricted shares and restricted stock units. The number of shares of common stock reserved for issuance under the 2021 Plan are increased automatically on the first business day of each fiscal year, commencing in 2022 and ending in 2031, by a number equal to the lesser of: (i) 5% of the shares of common sto ck outstanding on the last business day of the prior fiscal year; or (ii) the number of shares determined by the Company’s Board of Directors. In general, to the extent that any awards under the 2021 Plan are forfeited, terminated, expired or lapsed without the issuance of shares, or if the Company reacquires the shares subject to awards granted under the 2021 Plan, those shares will again become available for issuance under the 2021 Plan, as will shares applied to pay the exercise or purchase price of an award or to satisfy tax withholding obligations related to an award. Stock-based awards are governed by agreements between the Company and the recipients. Incentive stock options and nonqualified stock options may be granted under the 2021 Plan (and previously the 2016 Plan) at an exercise price of not less than 100 % of the fair market value of the Company’s common stock on the date of grant. The grant date is the date the terms of the award are formally approved by the Company’s Board of Directors or its designee. The following table summarizes stock option activity under the stock incentive plans since December 31, 2020: Number of Options Weighted Weighted Outstanding at December 31, 2020 7,274,953 $ 0.57 8.81 Exercisable at December 31, 2020 7,274,953 0.57 8.81 Granted 3,111,273 9.47 Exercised ( 5,415,875 ) 0.65 Canceled or forfeited ( 102,504 ) 3.57 Outstanding at September 30, 2021 4,867,847 6.10 8.71 Exercisable at September 30, 2021 3,373,469 $ 2.92 8.32 The 2016 Plan allows for the early exercise of awards to plan participants subject to the right of repurchase by the Company at the lower of the original exercise price or fair market value for unvested awards. At September 30, 2021 and December 31, 2020 , the Company has a liability for the cash received from the early exercise of stock options in the amount of $ 1.9 million and approximately zero, respectively. The Company reduces the liability as the underlying shares vest in accordance with the vesting terms of the awards. As of September 30, 2021 and December 31, 2020 , there were 2,585,250 and 141,955 , respectively, of early exercised stock options that remain subject to the Company’s repurchase right. Employee Stock Purchase Plan In May 2021, the Company’s Board of Directors approved the 2021 Employee Stock Purchase Plan (the “ESPP”). A total of 730,000 shares of common stock was initially reserved for issuance under the ESPP. The price at which common stock is purchased by employees under the ESPP is equal to 85 % of the fair market value of the common stock on the first day of the offering period or purchase date, whichever is lower. During the nine months ended September 30, 2021 , no shares of common stock were issued under the ESPP. Stock-based Compensation Summary The classification of stock-based compensation expense is summarized as follows (in thousands): Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 2021 2020 2021 2020 Research and development $ 968 $ 64 $ 1,774 $ 157 Selling, general and administrative 1,891 207 4,522 613 Total equity-based compensation expense $ 2,859 $ 271 $ 6,296 $ 770 As of September 30, 2021 , total unrecognized stock-based compensation expense was $ 31.9 million and is expected to be recognized over the weighted-average period of approximately 2.7 years. The following table shows the weighted-average assumptions used to compute the fair value of the awards granted to employees and nonemployees using the Black-Scholes option pricing model: Nine Months Ended September 30, Assumption 2021 2020 Expected volatility 77.22 % 60.00 % Expected term (years) 5.5 – 6.1 5.3 – 6.1 Expected dividend yield 0.00 % 0.00 % Risk-free interest rate 0.91 % 0.72 % Common stock reserved for future issuance consisted of the following as of September 30, 2021: Stock options issued and outstanding 4,867,847 Authorized for future grants under the 2021 Plan 7,764,283 Authorized for issuance under the ESPP 730,000 Balance at September 30, 2021 13,362,130

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
Income Statement [Abstract]
Net Loss Per Share	10. Net Loss per Share The following table sets forth the computation of basic and diluted net loss per share for the periods indicated (in thousands, except share and per share data): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net loss $ ( 17,611 ) $ ( 7,933 ) $ ( 79,011 ) $ ( 20,033 ) Weighted average shares used in computing net loss per share, basic and diluted 71,721,861 10,726,496 38,553,685 10,507,732 Net loss per share, basic and diluted $ ( 0.25 ) $ ( 0.74 ) $ ( 2.05 ) $ ( 1.91 ) The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: September 30, 2021 2020 Employee stock options issued and outstanding 4,867,847 7,015,851 SVB Warrant - 129,156 Series Seed convertible preferred stock - 6,520,790 Series A convertible preferred stock - 12,932,429 Series B convertible preferred stock - 19,373,169 4,867,847 45,971,395

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Initial Public Offering	Initial Public Offering On June 1, 2021, the Company closed its initial public offering (“ IPO”) in which it sold 11,730,000 shares of common stock (which included 1,530,000 shares that were sold pursuant to the full exercise of the IPO underwriters’ option to purchase additional shares) at a public offering price of $ 22.00 per share. The Company received net proceeds of approximately $ 237.2 million after deducting offering costs, underwriting discounts and commissions of $ 20.9 million. Concurrent with the closing of the IPO:  38,826,388 outstanding shares of convertible preferred stock converted into an equivalent number of shares of common stock;  outstanding principal and interest amount of convertible promissory notes (the “2021 Convertible Notes” ) converted into 7,531,777 shares of common stock; and  a warrant to purchase 129,156 shares of convertible preferred stock (the “SVB Warrant”) was automatically adjusted to become a warrant to purchase an equivalent number of shares of common stock.
Liquidity and Capital Resources	Liquidity and Capital Resources The Company has incurred net losses since inception and, as of September 30, 2021 and December 31, 2020, had an accumulated deficit of $132.1 million and $53.1 million, respectively. The Company has a limited operating history and the revenue and income potential of the Company’s business are unproven. From incorporation in June 2016 through September 30, 2021, substantially all of the Company’s operations have been funded by the sales of equity securities and issuances of debt. As of September 30, 2021, the Company had cash, cash equivalents and short-term investments of $ 357.0 million . The Company believes that its cash, cash equivalents and short-term investments as of September 30, 2021 are sufficient to fund its operations for at least 12 months from the issuance date of the accompanying unaudited condensed financial statements .
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for annual financial statements have been omitted. In the opinion of management, all adjustments, consisting of normal recurring adjustments considered necessary for fair presentation, have been included. Interim financial results are not necessarily indicative of results anticipated for the full year. The preparation of the Company’s unaudited condensed financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s unaudited condensed financial statements and accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may significantly differ from these estimates and assumptions. Significant estimates and assumptions include the fair value of the 2021 Convertible Notes, the fair value of the liability for the SVB Warrant, the fair value of the Company’s preferred and common stock, stock-based compensation and the useful lives of property and equipment.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash readily available in checking, savings, money market and sweep accounts. The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash Restricted cash is held in a separate restricted bank account as the collateral for the security deposits on three executed lease agreements and as the collateral on the Company’s corporate credit card program. The Company has classified restricted cash as noncurrent on its balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets (in thousands): September 30, December 31, Cash and cash equivalents $ 239,263 $ 11,688 Restricted cash 687 482 Total $ 239,950 $ 12,170
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments, which potentially subject the Company to a concentration of credit risk, consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.
Short-term Investments	Short-term Investments As of September 30, 2021 and December 31, 2020, short-term investments primarily consisted of corporate debt securities and asset-backed securities. The Company classifies its investments in securities as available-for-sale because, for accounting purposes, they are not considered to be either held-to-maturity securities or trading securities. They are not considered to be held-to-maturity securities because the Company does not have the positive intent to hold those securities to maturity. They are not considered trading securities because they are not acquired with the intent of selling them within hours or days. The Company’s investments in securities are classified as current as they are available for use in current operations. Short-term investments are carried at fair value with the unrealized gains and losses included in other comprehensive income (loss) as a component of stockholders’ equity until realized. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity and recorded as interest income. Realized gains and losses are determined using the specific identification method and are included in other income (expense). The following tables summarize the short-term investments held at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Amortized Gross Estimated Asset-backed securities $ 28,377 $ ( 9 ) $ 28,368 Corporate debt securities 89,378 4 89,382 $ 117,755 $ ( 5 ) $ 117,750 December 31, 2020 Amortized Gross Estimated Asset-backed securities $ 3,938 $ 5 $ 3,943 Corporate debt securities 11,276 12 11,288 $ 15,214 $ 17 $ 15,231 The following table summarizes contractual maturities of available-for-sale securities held at September 30, 2021 and December 31, 2020 (in thousands): September 30, December 31, Estimated Estimated Due within one year $ 85,263 $ 9,559 After one but within five years 32,487 5,672 Total $ 117,750 $ 15,231 The Company determined there was no other-than-temporary impairment of any of its investments.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net, which consists primarily of lab equipment, computers and software, furniture and fixtures and leasehold improvements, are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets (generally three to five years ). Leasehold improvements are amortized over the remaining life of the lease or the useful life of the asset, whichever is shorter. Repairs and maintenance costs are charged to expense as incurred.
Deferred Rent	Deferred Rent Rent expense is recognized on a straight-line basis over the lease term. The difference between rent expense and amounts paid under the lease agreement is deferred and recorded in other current and noncurrent liabilities in the accompanying balance sheets.
Impairment of Long-Lived Assets	Impairment of Long-lived Assets Long-lived assets consist primarily of property and equipment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Fair value would be assessed using discounted cash flows or other appropriate measures of fair value. The Company did no t recognize any impairment losses for the nine months ended September 30, 2021 and September 30, 2020 , respectively.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP and consist primarily of cash, cash equivalents, short-term investments, restricted cash, accounts payable, accrued liabilities, the 2021 Convertible Notes and the SVB Warrant. The carrying amounts of cash, cash equivalents, accounts payable, and accrued liabilities approximate their fair values due to the short-term nature of these instruments. None of the Company’s non-financial assets or liabilities are recorded at fair value on a recurring basis. As permitted under Accounting Standards Codification (“ASC”) 825, Financial Instruments (“ASC 825”), the Company has elected the fair value option to account for its 2021 Convertible Not es and SVB Warrant. C hanges in the fair value of the 2021 Convertible Notes and the SVB Warrant were recorded in the statements of operations. As a result of applying the fair value option, direct costs and fees related to the 2021 Convertible Notes were recognized as incurred and not deferred. In June 2021, in connection with the IPO completion, the 2021 Convertible Notes converted into the Company’s common stock and the SVB Warrant was automatically adjusted into a warrant to purchase an equivalent number of shares of common stock. There are significant judgments and estimates inherent in the determination of the fair value of these liabilities. If the Company had made different assumptions including, among others, those related to the timing and probability of various corporate scenarios, discount rates, volatilities and exit valuations, the carrying values of the 2021 Convertible Notes and SVB Warrant, and net loss and net loss per share, could have been significantly different.
Research and Development Expense	Research and Development Expense The Company’s research and development expense consists primarily of: salaries, payroll taxes, employee benefits and stock-based compensation for personnel engaged in research and development activities; fees paid to consultants; license fees paid to third parties for use of their intellectual property, laboratory supplies and development materials; allocated information technology and facilities costs; and depreciation. Research and development costs are charged to expense as incurred.
Patent Costs	Patent Costs Costs related to filing and pursuing patent applications are recorded as selling, general and administrative expenses within the Company’s statements of operations and expensed as incurred since recoverability of such expenditures is uncertain
Issuance Costs Related to Equity and Debt	Issuance Costs Related to Equity and Debt The Company allocates issuance costs between the individual freestanding instruments identified on the same basis as proceeds were allocated. Issuance costs associated with the issuance of debt is recorded as a direct reduction of the carrying amount of the debt liability, limited to the notional value of the debt. The Company accounts for the Silicon Valley Bank loan (see Note 6) as a liability measured at amortized cost and amortizes the related debt discount to interest expense using the effective interest method over the expected term of the debt.
Stock-based Compensation	Stock-based Compensation The Company accounts for stock-based compensation by measuring and recognizing compensation expense for all stock-based awards made to employees and non-employees based on estimated grant-date fair values. The Company uses the straight-line method to recognize compensation cost over the required service period of the award, which is generally the vesting period of the award. The Company recognizes actual forfeitures by reducing the stock-based compensation in the same period that the forfeitures occur. The Company estimates the fair value of stock-based option awards to employees and non-employees using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of subjective assumptions, including the fair value of common stock, expected term, expected volatility, risk-free interest rate and expected dividend yield, which are described in greater detail below. Inputs to the Black-Scholes option pricing model are subjective and generally require the use of judgment. Changes in the assumptions can materially affect how much stock-based compensation is recognized. These inputs are as follows:  Fair value of common stock — For awards granted prior to the IPO, when there was no public market for the Company’s common stock, the grant date fair value of the Company’s common stock was determined by the Company’s board of directors based in part on valuations of the Company’s common stock prepared by a third-party valuation specialist. In connection with the preparation of the financial statements for the year ended December 31, 2020, the Company performed a retrospective review of the fair value of its common stock based on information then available. For awards granted after the IPO, the fair value of common stock is the closing price per share of the Company’s common stock on the grant date as reported on the Nasdaq Global Select Market.  Expected term —The expected term represents the average period that options granted are expected to be outstanding and is determined using the simplified method (based on the mid-point between the weighted-average vesting period and the end of the contractual term). The Company uses the simplified method because the Company has concluded that its historical option exercise experience does not provide a reasonable basis to estimate expected term.  Expected volatility —The Company had no publicly available stock price information prior to its IPO and limited publicly available stock price information after its IPO; therefore, the Company used the historical volatility of the stock price of similar publicly traded companies. The historical volatility is calculated based on a period of time commensurate with the expected term.  Risk-free interest rate —The risk-free interest rate is based on the U.S. Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term.  Expected dividend yield —The Company has never paid dividends and does not intend to pay dividends in the foreseeable future. Therefore, the Company used an expected dividend yield of zero.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized as income or expense in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce any provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby: (i) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position; and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50% likely to be realized upon ultimate settlement with the related tax authority. The Company will recognize interest and penalties related to unrecognized tax benefits within income tax expense.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The only component of other comprehensive income (loss) is unrealized gain (loss) on available-for-sale securities, which have been reflected in the statements of comprehensive loss and as a separate component in the statements of preferred stock and stockholders’ equity (deficit).
Net Loss per Share	Net Loss per Share In periods of net loss, basic loss per share is computed by dividing net loss available to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. For periods prior to the IPO, the convertible preferred stock contain non-forfeitable rights to dividends with the common stockholders, and therefore are considered to be participating securities. Outstanding stock options, the SVB Warrant, convertible preferred stock and shares of common stock subject to repurchase by the Company are excluded from the calculation of diluted net loss per common share for the periods presented as their effect would be anti-dilutive. Thus, for all periods presented, there is no difference in the number of shares used to calculate basic and diluted net loss per share.
Segment Information	Segment Information Operating segments are components of a public entity that: (a) engage in business activities from which they may recognize revenues and incur expenses; (b) have operating results that are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and (c) have discrete financial information available. The Company views its operations and manages its business as one operating segment, and thus has one reportable segment. The Company’s long-lived assets are located in the United States.
Recent Accounting Pronouncements - Not Yet Adopted	Recent Accounting Pronouncements—Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). The standard establishes a right-of-use model and requires a lessee to recognize on the balance sheet a right-of-use asset and corresponding lease liability for all leases with terms longer than 12 months. For lessees, leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 is effective for the Company’s annual periods beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, and early adoption is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its financial statements and related disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments–Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. ASU 2016-13 is effective for the Company’s annual periods beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its financial statements and related disclosures. In November 2018, the FASB issued ASU No. 2018-18 (“ASU 2018-18”), which clarifies the interaction between ASC Topic 808, Collaborative Arrangements , and ASC Topic 606, Revenue from Contracts with Customers . This guidance, among other items, clarifies that certain transactions between collaborative participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account. ASU 2018-18 is effective for the Company’s fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The Company does not expect the impact of the adoption of this standard to materially impact its financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part of its initiative to reduce complexity in accounting standards. The ASU is effective for the Company’s fiscal years beginning after December 15, 2021, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company does not expect the impact of the adoption of this standard to materially impact its financial statements and related disclosures.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Reconciliation of Cash and Cash Equivalents, and Restricted Cash Reported the Balance Sheet	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets (in thousands): September 30, December 31, Cash and cash equivalents $ 239,263 $ 11,688 Restricted cash 687 482 Total $ 239,950 $ 12,170
Schedule of Short-Term Investments Held	The following tables summarize the short-term investments held at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Amortized Gross Estimated Asset-backed securities $ 28,377 $ ( 9 ) $ 28,368 Corporate debt securities 89,378 4 89,382 $ 117,755 $ ( 5 ) $ 117,750 December 31, 2020 Amortized Gross Estimated Asset-backed securities $ 3,938 $ 5 $ 3,943 Corporate debt securities 11,276 12 11,288 $ 15,214 $ 17 $ 15,231
Schedule of Contractual Maturities of Available-for-Sale Debt Securities Held	The following table summarizes contractual maturities of available-for-sale securities held at September 30, 2021 and December 31, 2020 (in thousands): September 30, December 31, Estimated Estimated Due within one year $ 85,263 $ 9,559 After one but within five years 32,487 5,672 Total $ 117,750 $ 15,231

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Assets: Level 1 Level 2 Level 3 Total Cash and money market funds $ 239,263 $ - $ - $ 239,263 Asset-backed securities - 28,368 - 28,368 Corporate debt securities - 89,382 - 89,382 Total assets $ 239,263 $ 117,750 $ - $ 357,013 December 31, 2020 Assets: Level 1 Level 2 Level 3 Total Cash and money market funds $ 11,688 $ - $ - $ 11,688 Asset-backed securities - 3,943 - 3,943 Corporate debt securities - 11,288 - 11,288 Total assets $ 11,688 $ 15,231 $ - $ 26,919 Liabilities: Warrant liability $ - $ - $ 451 451 Total liabilities $ - $ - $ 451 $ 451
Schedule of SVB Warrant Liability Measured at Fair Value and 2021 Convertible Notes	The following table provides a roll forward of the SVB Warrant liability measured at fair value for the nine months ended September 30, 2021 (in thousands): Balance at December 31, 2020 $ 451 Change in fair value of warrant through conversion 2,180 Reclassification of warrant liability into equity ( 2,631 ) Balance at September 30, 2021 $ - Balance at December 31, 2020 $ - Fair value of convertible promissory notes at issuance 130,500 Change in fair value of convertible promissory notes through conversion 35,199 Conversion of convertible promissory notes ( 165,699 ) Balance at September 30, 2021 $ -
Schedule of Fair Value of SVB Warrant Liability Valuation Assumptions	Below are the assumptions used in the Black-Scholes option pricing model for the fair value of the SVB Warrant liability as of the closing of the IPO, when the SVB Warrant was automatically adjusted into a warrant to purchase an equivalent number of shares of common stock , and December 31, 2020: December 31, Assumption At IPO 2020 Fair value of underlying ($) 22.00 4.59 Expected volatility 62.00 % 60.00 % Expected term (years) 8.47 8.99 Expected dividend yield 0.00 % 0.00 % Risk-free interest rate 1.62 % 0.93 %

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (in thousands): September 30, December 31, Useful Life 2021 2020 Equipment 5 years $ 3,854 $ 2,642 Computers and software 3 years 1,591 851 Furniture and fixtures 3 years 69 80 Leasehold improvements 4 years or less 35 35 Construction in progress N/A 1,191 - 6,740 3,608 Less: accumulated depreciation ( 1,823 ) ( 1,240 ) Total property and equipment, net $ 4,917 $ 2,368

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2021
Accrued Liabilities Current [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued expenses consisted of the following (in thousands): September 30, December 31, 2021 2020 Accrued compensation and other employee benefits $ 2,814 $ 1,234 Accrued professional services 357 74 Accrued research and development expenses 70 44 Accrued other expenses 202 240 Total accrued expenses $ 3,443 $ 1,592

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term debt and unamortized debt discount balances	The SVB Loans and unamortized discount balances as of September 30, 2021 and December 31, 2020 are shown below (in thousands): September 30, December 31, 2021 2020 Total long-term debt $ 10,500 $ 10,000 Less: issuance costs ( 632 ) ( 605 ) Total long-term debt, net 9,868 9,395 Less current portion of long-term debt - ( 926 ) Long-term debt, net of current portion $ 9,868 $ 8,469
Summary of Future Minimum Principal Payments on Long-term Debt	Future minimum payments of outstanding principal and interest under the 2021 SVB Loan are as follows: As of September 30, 2021 2021 (three months remaining) $ 106 2022 426 2023 426 2024 1,735 2025 and thereafter 9,949 Total future minimum payments 12,642 Less: interest and Final Payment Fee ( 2,142 ) Long-term debt $ 10,500

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases	Future minimum payments under the Company’s non-cancelable operating leases are as follows (in thousands): As of September 30, 2021 Operating 2021 (three months remaining) $ 635 2022 6,265 2023 7,892 2024 6,394 2025 and thereafter 42,122 $ 63,308

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	9 Months Ended
	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Schedule of Convertible Preferred Stock Outstanding Prior to Conversion in IPO	The convertible preferred stock outstanding prior to its conversion in the IPO was as follows: Shares Authorized Shares issued Issue Period Price Per Share Aggregate Series Seed 6,520,790 6,520,790 2016 $ 0.6901 $ 4,500,000 Series A 12,932,429 12,932,429 2017 1.5465 20,000,000 Series B 19,566,903 19,373,169 2019 2.3228 45,000,000 39,020,122 38,826,388 $ 69,500,000

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	The following table summarizes stock option activity under the stock incentive plans since December 31, 2020: Number of Options Weighted Weighted Outstanding at December 31, 2020 7,274,953 $ 0.57 8.81 Exercisable at December 31, 2020 7,274,953 0.57 8.81 Granted 3,111,273 9.47 Exercised ( 5,415,875 ) 0.65 Canceled or forfeited ( 102,504 ) 3.57 Outstanding at September 30, 2021 4,867,847 6.10 8.71 Exercisable at September 30, 2021 3,373,469 $ 2.92 8.32
Summary of Equity Based Compensation Expense	The classification of stock-based compensation expense is summarized as follows (in thousands): Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 2021 2020 2021 2020 Research and development $ 968 $ 64 $ 1,774 $ 157 Selling, general and administrative 1,891 207 4,522 613 Total equity-based compensation expense $ 2,859 $ 271 $ 6,296 $ 770
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table shows the weighted-average assumptions used to compute the fair value of the awards granted to employees and nonemployees using the Black-Scholes option pricing model: Nine Months Ended September 30, Assumption 2021 2020 Expected volatility 77.22 % 60.00 % Expected term (years) 5.5 – 6.1 5.3 – 6.1 Expected dividend yield 0.00 % 0.00 % Risk-free interest rate 0.91 % 0.72 %
Schedule of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consisted of the following as of September 30, 2021: Stock options issued and outstanding 4,867,847 Authorized for future grants under the 2021 Plan 7,764,283 Authorized for issuance under the ESPP 730,000 Balance at September 30, 2021 13,362,130

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Income Statement [Abstract]
Schedule of Computation of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share for the periods indicated (in thousands, except share and per share data): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net loss $ ( 17,611 ) $ ( 7,933 ) $ ( 79,011 ) $ ( 20,033 ) Weighted average shares used in computing net loss per share, basic and diluted 71,721,861 10,726,496 38,553,685 10,507,732 Net loss per share, basic and diluted $ ( 0.25 ) $ ( 0.74 ) $ ( 2.05 ) $ ( 1.91 )
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Net Loss Per Share	The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: September 30, 2021 2020 Employee stock options issued and outstanding 4,867,847 7,015,851 SVB Warrant - 129,156 Series Seed convertible preferred stock - 6,520,790 Series A convertible preferred stock - 12,932,429 Series B convertible preferred stock - 19,373,169 4,867,847 45,971,395

Business - Additional Informati

Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 01, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Class Of Stock [Line Items]
Proceeds from initial public offering, net of issuance costs							$ 237,199
Convertible Preferred Stock, Shares Issued upon Conversion		38,826,388					38,826,388
Accumulated deficit		$ (132,136)					$ (132,136)		$ (53,125)
Net loss		(17,611)	$ (37,479)	$ (23,921)	$ (7,933)	$ (6,847)	(79,011)	$ (20,033)
Proceeds from issuance of debt							10,500	$ 7,500
Cash Cash Equivalents And Short Term Investments		$ 357,000					357,000
Common Stock
Class Of Stock [Line Items]
Stock Issued During Period Shares New Issues			11,730,000
Conversion of convertible securities			7,531,777
IPO
Class Of Stock [Line Items]
Stock Issued During Period Shares New Issues	11,730,000
Shares Issued, Price Per Share	$ 22
IPO | Convertible Debt | 2021 Notes
Class Of Stock [Line Items]
Conversion of convertible securities	7,531,777
IPO | Convertible Preferred Stock
Class Of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion	38,826,388
IPO | Convertible Preferred Stock | Common Stock
Class Of Stock [Line Items]
Outstanding warrant to purchase convertible preferred stock	129,156
Singular Genomics Systems
Class Of Stock [Line Items]
Proceeds from initial public offering, net of issuance costs							237,200
Payments for Underwriting Expense							$ 20,900
Singular Genomics Systems | Over-Allotment Option
Class Of Stock [Line Items]
Stock Issued During Period Shares New Issues							1,530,000

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021USD ($)Segment	Sep. 30, 2020USD ($)
Number of reportable segments | Segment	1
Property, plant and equipment, estimated useful lives	three to five years
Impairment losses for long lived asset | $	$ 0	$ 0

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Reconciliation of Cash, Cash equivalents, and Restricted Cash Reported within the Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 239,263	$ 11,688
Restricted cash	687	482
Total	$ 239,950	$ 12,170	$ 11,473	$ 5,523

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Short-Term Investments Held (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Amortized Cost	$ 117,755	$ 15,214
Gross Unrealized Gains (Losses)	(5)	17
Estimated Fair Value	117,750	15,231
Asset-Backed Securities
Amortized Cost	28,377	3,938
Gross Unrealized Gains (Losses)	(9)	5
Estimated Fair Value	28,368	3,943
Corporate Debt Securities
Amortized Cost	89,378	11,276
Gross Unrealized Gains (Losses)	4	12
Estimated Fair Value	$ 89,382	$ 11,288

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Contractual Maturities of Available-for-Sale Debt Securities Held (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Estimated Fair Value, Due within one year	$ 85,263	$ 9,559
Estimated Fair Value, After one but within five years	32,487	5,672
Total	$ 117,750	$ 15,231

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Total assets	$ 357,013	$ 26,919
Liabilities:
Total liabilities		451
Cash and money market funds
Assets:
Total assets	239,263	11,688
Asset-Backed Securities
Assets:
Total assets	28,368	3,943
Corporate Debt Securities
Assets:
Total assets	89,382	11,288
Warrant Liability
Liabilities:
Total liabilities		451
Level 1
Assets:
Total assets	239,263	11,688
Level 1 | Cash and money market funds
Assets:
Total assets	239,263	11,688
Level 2
Assets:
Total assets	117,750	15,231
Level 2 | Asset-Backed Securities
Assets:
Total assets	28,368	3,943
Level 2 | Corporate Debt Securities
Assets:
Total assets	$ 89,382	11,288
Level 3
Liabilities:
Total liabilities		451
Level 3 | Warrant Liability
Liabilities:
Total liabilities		$ 451

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of SVB Warrant Liability Measured at Fair Value and 2021 Convertible Notes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Change in fair value of warrant liability through conversion	$ 0	$ 49	$ 2,180	$ 49
2021 Convertible Notes
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2020			0
Fair value of convertible promissory notes at issuance			130,500
Change in fair value of convertible promissory notes through conversion			35,199
Conversion of convertible promissory notes Fair Value			(165,699)
Balance at September 30, 2021	0		0
SVB Warrant Liability
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2020			451
Change in fair value of warrant liability through conversion			2,180
Reclassification of warrant liability into equity			(2,631)
Balance at September 30, 2021	$ 0		$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Mar. 31, 2020	Nov. 30, 2019
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Change in fair value of warrant liability		$ 0	$ 49	$ 2,180	$ 49
Shares sold and issued, aggregate principal amount		10,500		10,500
2021 Convertible Notes
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Shares sold and issued, aggregate principal amount	$ 130,500
Debt instrument, interest per annum	6.00%
2021 Convertible Notes | IPO
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Conversion of convertible securities	7,531,777
Debt conversion converted discount rate	20.00%
SVB Warrant
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Change in fair value of warrant liability					$ 49
SVB Warrant | Series B Preferred Stock
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Warrant, number of shares								32,289
Exercise price of warrants								$ 2.3228
SVB Warrant | Series B Preferred Stock | Minimum [Member]
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Warrant, number of shares							96,867
SVB Warrant | Series B Preferred Stock | Maximum [Member]
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Warrant, number of shares							129,156
SVB Warrant | Common Stock
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Warrants and Rights Outstanding		$ 0		$ 0
SVB Warrant | Common Stock | IPO
Fair Value Disclosure Asset And Liability Not Measured At Fair Value [Line Items]
Warrant, number of shares						117,088

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Fair Value of SVB Warrant Liability Valuation Assumptions (Details)	Sep. 30, 2021$ / shares	Dec. 31, 2020$ / shares
Fair Value | Series B
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair value of the warrant liability per share		$ 4.59
Fair Value | Common Stock
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair value of the warrant liability per share	$ 22
Expected Volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding measurement input	62	60
Expected Term (Years)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding term	8 years 5 months 19 days	8 years 11 months 26 days
Expected Dividend Yield
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding measurement input	0	0
Risk-Free Interest Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding measurement input	1.62	0.93

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Useful life	three to five years
Property and equipment	$ 6,740	$ 3,608
Less: Accumulated depreciation	(1,823)	(1,240)
Total property and equipment, net	$ 4,917	2,368
Equipment [Member]
Property Plant And Equipment [Line Items]
Useful life	5 years
Property and equipment	$ 3,854	2,642
Computers and Software [Member]
Property Plant And Equipment [Line Items]
Useful life	3 years
Property and equipment	$ 1,591	851
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Useful life	3 years
Property and equipment	$ 69	80
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Useful life	4 years or less
Property and equipment	$ 35	35
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Useful life	N/A
Property and equipment	$ 1,191	$ 0

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Components of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued compensation and other employee benefits	$ 2,814	$ 1,234
Accrued professional services	357	74
Accrued research and development expenses	70	44
Accrued other expenses	202	240
Total accrued expenses	$ 3,443	$ 1,592

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 30, 2019	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Feb. 28, 2021	Dec. 31, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity		$ 15,000	$ 15,000		$ 15,000
Additional borrowing amount		10,500	10,500		$ 10,500			$ 10,000
Loan, maturity date	Sep. 1, 2023				Sep. 1, 2026
Percentage of variable annual interest rate					0.75%	0.65%
Interest rate due on maturity date					4.00%	5.50%
Debt Issuance Costs, Net		600	600		$ 600			$ 600
Debt instrument face amount		10,500	10,500		10,500
Change in fair value of convertible promissory notes			0		35,199	$ 0
Silicon Valley Bank Warrant
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity		35,500	35,500		35,500
Loan and Security agreement
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity	$ 15,000	$ 10,000	10,000		$ 10,000
Line of Credit Facility, Current Borrowing Capacity	$ 2,500
Interest rate during the period		5.90%			4.00%
Loan and Security agreement | Silicon Valley Bank Warrant
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.3228
Additional borrowing amount									$ 7,500
2021 Notes
Debt Instrument [Line Items]
Debt instrument face amount							$ 130,500
Debt instrument, interest per annum							6.00%
2021 Convertible Notes
Debt Instrument [Line Items]
Debt instrument face amount							$ 130,500
Debt instrument, interest per annum							6.00%
2021 Convertible Notes | IPO
Debt Instrument [Line Items]
Number Of Convertible Promissory Notes Converted To CommonStock				7,531,777
First Tranche
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 10,500	$ 10,500		$ 10,500

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt and Unamortized Debt Discount Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Total long-term debt	$ 10,500	$ 10,000
Less: issuance costs	632	605
Total long-term debt, net	9,868	9,395
Current portion of long term debt, net of issuance costs	0	926
Long-term debt, net of current portion	$ 9,868	$ 8,469

Long-Term Debt - Schedule of Fu

Long-Term Debt - Schedule of Future Minimum Principal and Interest Payments (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
2021 (three months remaining)	$ 106
2022	426
2023	426
2024	1,735
2025 and thereafter	9,949
Total future minimum payments	12,642
Less: interest and Final Payment Fee	(2,142)
Long-term debt	$ 10,500

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) U_pure in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Apr. 30, 2021	Jun. 30, 2020ft²	Dec. 31, 2019
Commitment And Contingencies [Line Items]
Operating Lease Rental Expense | $	$ 1.4	$ 0.3
La Jolla California
Commitment And Contingencies [Line Items]
Lessee, Operating Lease, Term of Contract				10 years
Net Rentable Area | ft²				76.778
Tenant Improvement Allowance Interest Accrual Rate	8
Lessee Operating Lease Term Of Contract				10 years
San Diego California
Commitment And Contingencies [Line Items]
Lessee, Operating Lease, Term of Contract			62 months		5 years
Lessee Operating Lease Term Of Contract			62 months		5 years

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases (Details) $ in Thousands	Sep. 30, 2021USD ($)
Commitments And Contingencies Disclosure [Abstract]
Operating Lease Future Minimum Payments, Remaining Period	$ 635
Operating Lease Future Minimum Payments, 2022	6,265
Operating Lease Future Minimum Payments, 2023	7,892
Operating Lease Future Minimum Payments, 2024	6,394
Operating Lease Future Minimum Payments, 2025 and Thereafter	42,122
Operating Lease Future Minimum Payments, Total	$ 63,308

Convertible Preferred Stock - S

Convertible Preferred Stock - Schedule of components of Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Temporary Equity [Line Items]
Temporary equity, shares authorized		39,020,122
Temporary equity, shares issued		38,826,388
Temporary equity, shares converted		38,826,388
Aggregate liquidation preference		$ 69,500,000
Series Seed
Temporary Equity [Line Items]
Temporary equity, shares authorized		6,520,790	6,520,790
Temporary equity, shares issued		6,520,790
Temporary equity, shares converted	(6,520,790)	6,520,790
Issue Period		2016
Price Per Share		$ 0.6901
Aggregate liquidation preference		$ 4,500,000
Temporary equity, liquidation preference		$ 0	$ 4,499,998
Series A
Temporary Equity [Line Items]
Temporary equity, shares authorized		12,932,429
Temporary equity, shares issued		12,932,429
Temporary equity, shares converted		12,932,429
Issue Period		2017
Price Per Share		$ 1.5465
Aggregate liquidation preference		$ 20,000,000
Series B
Temporary Equity [Line Items]
Temporary equity, shares authorized		19,566,903
Temporary equity, shares issued		19,373,169
Temporary equity, shares converted		19,373,169
Issue Period		2019
Price Per Share		$ 2.3228
Aggregate liquidation preference		$ 45,000,000

Convertible Preferred Stock - A

Convertible Preferred Stock - Additional informations (Details)	Sep. 30, 2021shares
Temporary Equity Disclosure [Abstract]
Convertible Preferred Stock Shares Issued Upon Conversion	38,826,388

Common Stock - Additional Infor

Common Stock - Additional Information (Details) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Common stock, shares authorized	400,000,000	60,272,685
Common stock, par value per share	$ 0.0001	$ 0.0001

Common Stock - Schedule of Comm

Common Stock - Schedule of Common Stock Reserved for Future Issuance (Details)	Sep. 30, 2021shares
Class Of Stock [Line Items]
Common stock reserved for future issuance	13,362,130
Stock Options Issued and Outstanding [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	4,867,847
Authorized For Future Options Grants [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	7,764,283
Authorized for issuance under the ESPP Plan [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	730,000

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	May 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	13,362,130
Liability for cash received from early exercise of stock	$ 1,900
Number of early exercise stock option remain subject to repurchase	2,585,250		141,955
Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,867,847
Unrecognized stock-based compensation expense	$ 31,900,000
Cost not yet recognized, period for recognition	2 years 8 months 12 days
2021 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,500,000
Stock incentive plan description	The number of shares of common stock reserved for issuance under the 2021 Plan are increased automatically on the first business day of each fiscal year, commencing in 2022 and ending in 2031, by a number equal to the lesser of: (i) 5% of the shares of common stock outstanding on the last business day of the prior fiscal year; or (ii) the number of shares determined by the Company’s Board of Directors.
2021 Plan | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase Price of Common Stock Expressed As A Percentage	100.00%
2016 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	832,980
2021 ESPP Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance		730,000
Common stock, shares issued	0
Purchase Price of Common Stock Expressed As A Percentage	85.00%

Stock Incentive Plan - Summary

Stock Incentive Plan - Summary of Stock Option Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Outstanding at December 31, 2020	7,274,953
Number of Options, Exercisable at December 31, 2020	7,274,953
Number of Options, Granted	3,111,273
Number of Options, Exercised	(5,415,875)
Number of Options, Cancelled / Forfeited	(102,504)
Number of Options, Outstanding at September 30, 2021	4,867,847	7,274,953
Number of Options, Exercisable at September 30, 2021	3,373,469	7,274,953
Weighted average exercise price (per share), Outstanding at December 31, 2020	$ 0.57
Weighted average exercise price (per share), Exercisable at December 31, 2020	0.57
Weighted average exercise price (per share), Granted	9.47
Weighted average exercise price (per share), Exercised	0.65
Weighted average exercise price (per share), Cancelled / Forfeited	3.57
Weighted average exercise price (per share), Outstanding at September 30, 2021	6.10	$ 0.57
Weighted average exercise price (per share), Exercisable at September 30, 2021	$ 2.92	$ 0.57
Weighted average remaining contract term (in years), Outstanding	8 years 8 months 15 days	8 years 9 months 21 days
Weighted average remaining contract term (in years), Exercisable	8 years 3 months 25 days	8 years 9 months 21 days

Stock Incentive Plan - Summar_2

Stock Incentive Plan - Summary of Equity Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	$ 2,859	$ 271	$ 6,296	$ 770
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	968	64	1,774	157
Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	$ 1,891	$ 207	$ 4,522	$ 613

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	77.22%	60.00%
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	0.91%	0.72%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	5 years 6 months	5 years 3 months 18 days
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 years 1 month 6 days	6 years 1 month 6 days

Stock Incentive Plans - Common

Stock Incentive Plans - Common stock reserved for future issuance (Details) - shares	Sep. 30, 2021	May 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	13,362,130
Balance at September 30, 2021	13,362,130
2021 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,500,000
Balance at September 30, 2021	7,500,000
2021 ESPP Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance		730,000
Stock Options Issued and Outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,867,847
Balance at September 30, 2021	4,867,847
Authorized For Future Options Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,764,283
Balance at September 30, 2021	7,764,283
Authorized for issuance under the ESPP Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	730,000
Balance at September 30, 2021	730,000

Net Loss Per Share - Schedule O

Net Loss Per Share - Schedule Of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Net Income Loss	$ (17,611)	$ (37,479)	$ (23,921)	$ (7,933)	$ (6,847)	$ (79,011)	$ (20,033)
Weighted-average shares used in computing net loss per share, basic and diluted	71,721,861			10,726,496		38,553,685	10,507,732
Net loss per share, basic and diluted	$ (0.25)			$ (0.74)		$ (2.05)	$ (1.91)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Antidilutive Securities Excluded From Computation of Dilutied Net Loss Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded From Computation Of Earnings Per Share Amount	4,867,847	45,971,395
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded From Computation Of Earnings Per Share Amount	4,867,847	7,015,851
Series Seed Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded From Computation Of Earnings Per Share Amount	0	6,520,790
Series A Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded From Computation Of Earnings Per Share Amount	0	12,932,429
Series B Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded From Computation Of Earnings Per Share Amount	0	19,373,169
SVB Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded From Computation Of Earnings Per Share Amount	0	129,156