Nuvalent (NUVL) 10-K 29 Mar 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Feb. 28, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity File Number	001-40671
Entity Registrant Name	NUVALENT, INC.
Entity Central Index Key	0001861560
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-5112298
Entity Address, Address Line One	One Broadway
Entity Address, Address Line Two	14th Floor
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02142
City Area Code	857
Local Phone Number	357-7000
Title of 12(b) Security	Class A Common Stock, $0.0001 Par Value
Trading Symbol	NUVL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Boston, MA
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 0
ICFR Auditor Attestation Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		42,878,747
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,435,254

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 68,526	$ 10,332
Marketable securities	219,585	0
Prepaid expenses and other current assets	2,517	314
Total current assets	290,628	10,646
Other assets	3,196
Total assets	293,824	10,646
Current liabilities:
Accounts payable	2,893	1,252
Accrued expenses	5,894	1,171
Preferred stock tranche rights		1,957
Total current liabilities	8,787	4,380
Notes payable and accrued interest to stockholder		2,235
Total liabilities	8,787	6,615
Commitments and contingencies (Note 11)
Convertible preferred stock (Series A and B), $0.0001 par value; no shares and 112,431,508 shares authorized at December 31, 2021 and 2020, respectively; no shares and 89,945,206 shares issued and outstanding at December 31, 2021 and 2020, respectively;		35,354
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 10,000,000 shares and no shares authorized at December 31, 2021 and 2020, respectively; no shares issued or outstanding
Additional paid-in capital	363,483	842
Accumulated other comprehensive loss	(228)
Accumulated deficit	(78,223)	(31,885)
Promissory note from stockholder		(280)
Total stockholders' equity (deficit)	285,037	(31,323)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	293,824	$ 10,646
Common Class A [Member]
Stockholders' equity (deficit):
Common stock	4
Common Class B [Member]
Stockholders' equity (deficit):
Common stock	$ 1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Temporary equity, shares authorized		112,431,508
Temporary equity, shares issued		89,945,206
Temporary equity, shares outstanding		89,945,206
Preferred stock, par value | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Convertible preferred stock [Member]
Temporary equity, par or stated value per share	$ 0.0001	$ 0.0001
Temporary equity, shares authorized	0	112,431,508
Temporary equity, shares issued	0	89,945,206
Temporary equity, shares outstanding	0	89,945,206
Common Class A [Member]
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares authorized	140,000,000	160,000,000
Common stock, shares issued	42,862,175	3,129,384
Common stock, shares outstanding	42,862,175	3,129,384
Common Class B [Member]
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares authorized	10,000,000	0
Common stock, shares issued	5,435,254	0
Common stock, shares outstanding	5,435,254	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
Research and development	$ 35,559	$ 15,403
General and administrative	10,258	1,502
Total operating expenses	45,817	16,905
Loss from operations	(45,817)	(16,905)
Other income (expense):
Change in fair value of preferred stock tranche rights	(635)	2,384
Other income (expense), net	114	(35)
Total other income (expense), net	(521)	2,349
Net loss	$ (46,338)	$ (14,556)
Net loss per share attributable to common stockholders, basic	$ (2.13)	$ (5.08)
Net loss per share attributable to common stockholders, diluted	$ (2.13)	$ (5.08)
Weighted average shares of common stock outstanding, basic	21,783,754	2,867,221
Weighted average shares of common stock outstanding, diluted	21,783,754	2,867,221
Comprehensive loss:
Net loss	$ (46,338)	$ (14,556)
Other comprehensive loss:
Unrealized losses on marketable securities, net of tax of $0	(228)
Comprehensive loss	$ (46,566)	$ (14,556)

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Income Statement [Abstract]
Unrealized losses on marketable securities, tax	$ 0

CONSOLIDATED STATEMENTS OF CONV

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Convertible preferred stock [Member]	Common stock [Member]Common Class A [Member]	Common stock [Member]Common Class B [Member]	Additional paid-in capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated deficit [Member]	Promissory note from stockholder [Member]	Series A Convertible Preferred Stock [Member]Convertible preferred stock [Member]	Series B Convertible Preferred Stock [Member]Convertible preferred stock [Member]
Beginning Balance , Shares at Dec. 31, 2019		39,351,028
Beginning Balance at Dec. 31, 2019		$ 14,048
Beginning Balance , Shares at Dec. 31, 2019			2,138,988	0
Beginning Balance at Dec. 31, 2019	$ (17,256)		$ 0	$ 0	$ 98	$ 0	$ (17,329)	$ (25)
Issuance of convertible preferred stock , Shares		50,594,178
Issuance of convertible preferred stock		$ 22,500
Issuance of common stock			952,740
Stock-based compensation expense	729				729
Interest on promissory note from related stockholder party	(5)							(5)
Reclassification of preferred stock tranche rights upon settlement	(1,194)	$ (1,194)
Issuance of common stock upon exercise of stock options , Shares			37,656
Issuance of common stock upon exercise of stock options	15				15
Issuance of promissory note from related party stockholder	(250)							(250)
Net loss	$ (14,556)						(14,556)
Ending Balance , Shares at Dec. 31, 2020	89,945,206	89,945,206
Ending Balance at Dec. 31, 2020	$ 35,354	$ 35,354
Ending Balance , Shares at Dec. 31, 2020			3,129,384
Ending Balance at Dec. 31, 2020	(31,323)				842		(31,885)	(280)
Issuance of convertible preferred stock , Shares									22,486,302	65,223,679
Issuance of convertible preferred stock									$ 10,000	$ 134,652
Conversion of note payable and accrued interest to Series A convertible preferred stock , Shares		5,025,604
Conversion of note payable and accrued interest to Series A convertible preferred stock		$ 2,815
Conversion of preferred stock to common stock upon initial public offering, Shares		(182,680,791)	29,106,831	4,835,254
Conversion of preferred stock to common stock upon initial public offering	185,413	$ (185,413)	$ 3	$ 1	185,409
Issuance of common stock			10,612,500	600,000
Issuance of common stock upon initial public offering, net of issuance costs	174,250		$ 1		174,249
Stock-based compensation expense	3,551				3,551
Interest on promissory note from related stockholder party	(4)							(4)
Reclassification of preferred stock tranche rights upon settlement	2,592	$ 2,592
Loss on extinguishment of debt	$ (580)				(580)
Issuance of common stock upon exercise of stock options , Shares	13,460		13,460
Issuance of common stock upon exercise of stock options	$ 12				12
Repayment of promissory note from related stockholder party	284							284
Unrealized losses on marketable securities	(228)					(228)
Net loss	(46,338)						(46,338)
Ending Balance , Shares at Dec. 31, 2021		0
Ending Balance at Dec. 31, 2021		$ 0
Ending Balance , Shares at Dec. 31, 2021			42,862,175	5,435,254
Ending Balance at Dec. 31, 2021	$ 285,037		$ 4	$ 1	$ 363,483	$ (228)	$ (78,223)	$ 0

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Series B convertible preferred stock [Member]
Temporary Equity Issuance Costs	$ 348
Common Stock [Member]
Stock Issuance Costs	$ 3,020

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (46,338)	$ (14,556)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of preferred stock tranche rights	635	(2,384)
Stock-based compensation expense	3,551	729
Non-cash interest income on promissory note	(4)	(5)
Net amortization of premiums on marketable securities	215
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(251)	(14)
Other assets	(3,196)
Accounts payable	1,641	529
Accrued expenses	3,747	752
Net cash used in operating activities	(40,000)	(14,949)
Cash flows from investing activities:
Purchases of marketable securities	(221,043)
Proceeds from sales and maturities of marketable securities	1,015
Net cash used in investing activities	(220,028)
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock and preferred stock tranche rights, net of issuance costs	144,652	22,500
Proceeds from initial public offering, net of underwriting discounts and commissions	177,270
Issuance of promissory note to stockholder		(250)
Payments of insurance costs financed by a third-party	(976)
Proceeds from exercise of stock options	12	15
Proceeds from repayment of promissory note to stockholder	284
Payments of initial public offering costs	(3,020)
Net cash provided by financing activities	318,222	22,265
Net increase in cash and cash equivalents	58,194	7,316
Cash and cash equivalents at beginning of period	10,332	3,016
Cash and cash equivalents at end of period	68,526	10,332
Supplemental disclosure of noncash financing information:
Settlement of notes payable and accrued interest for preferred stock	2,235
Conversion of convertible preferred stock to common stock upon initial public offering	185,413
Insurance premium financed by a third-party	1,952
Loss on extinguishment of debt	580
Settlement of preferred stock tranche rights	$ 2,592	$ (1,194)

Nature of Business and Basis of

Nature of Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Nuvalent, Inc. (the “Company”) is a clinical stage biopharmaceutical company focused on creating precisely The Company is subject to risks similar to those of other pre-commercial COVID-19 In March 2020, the World Health Organization declared the COVID-19 COVID-19 COVID-19 COVID-19 COVID-19 On July , , the Company effected a one-for-5.38213 reverse stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s preferred stock. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this reverse stock split and adjustment of the preferred stock conversion ratios. On July , , the Company filed an amendment to its amended and restated certificate of incorporation, which effected a recapitalization of the Company’s then outstanding common stock to Class A common stock and authorized an additional new class of common stock (“Class B common stock”). The rights of the holders of Class A common stock and Class B common stock are substantially identical, except with respect to voting and conversion. non-voting, On August 2, 2021, the Company completed an initial public offering (“IPO”) of its common stock and issued and sold 10,612,500 shares of Class A and 600,000 shares of Class B common stock at a public offering price of $17.00 per share, inclusive of 1,462,500 shares of Class A common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares. The Company received net proceeds of approximately $174.3 million after deducting underwriting discounts and commissions and offering costs. In connection with the IPO, the Company’s outstanding convertible preferred stock automatically converted into shares of Class A and Class B common stock. Basis of presentation The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Nuvalent Securities Corporation. All intercompany balances and transactions have been eliminated. Since its inception, the Company has funded its operations primarily with proceeds from sales of preferred stock, issuance of convertible notes (which converted in 2018), debt financing from its investors (which was settled with convertible preferred stock in February 2021), and most recently, with proceeds from the sale of common stock in the IPO completed in August 2021. The Company has incurred recurring losses since inception, including net losses of $46.3 million and $14.6 million for the years ended December 31, 2021 and 2020. As of December 31, 2021, the Company had an accumulated deficit of $78.2 million. The Company expects to continue to generate operating losses for the foreseeable future. The Company believes that its existing cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements for at least 12 months from the date of issuance of these consolidated financial statements. The Company will need to obtain additional funding through public or private equity offerings, debt financings or strategic alliances. The Company may not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into strategic alliances. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. Arrangements with collaborators or others may require the Company to relinquish rights to certain of its technologies or programs. If the Company is unable to obtain funding, the Company will be required to delay, reduce or eliminate some or all of its research and development programs or the Company may be unable to continue operations. Although management will continue to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing operations when needed or at all.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the valuation of common stock prior to the IPO and preferred stock tranche rights prior to their settlement, the valuation of stock-based awards and the accrual of research and development expenses. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions. Concentrations of credit risk and of significant suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. As of December 31, 2021 and 2020, the Company maintained cash, cash equivalents and marketable securities balances in excess of federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company is dependent on third-party vendors for the manufacturing of its product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of vendors to manufacture materials and components required for the production of its product candidates. These programs could be adversely affected by a significant interruption in the manufacturing process. Cash equivalents The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Fair value measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company’s cash equivalents and marketable securities are carried at fair value, determined according to the fair value hierarchy described above (see Note 4). The carrying values of the Company’s accounts payable and accrued expenses approximate their fair values due to the short-term nature of these liabilities. Marketable securities The Company’s marketable securities (non-equity available-for-sale The Company evaluates its marketable securities with unrealized losses for other-than-temporary impairment. When assessing marketable securities for other-than-temporary declines in value, the Company considers such factors as, among other things, how significant the decline in value is as a percentage of the original cost, how long the market value of the investment has been less than its original cost, the Company’s ability and intent to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. If any adjustment to fair value reflects a decline in the value of the investment that the Company considers to be “other than temporary,” the Company reduces the investment to fair value through a charge recorded in the consolidated statements of operations. No such adjustments were necessary during the periods presented. The Company classifies its marketable securities with maturities beyond one year as short-term, based on their highly liquid nature and because such marketable securities are available for current operations. Segment information The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. All of the Company’s operations are in the United States. Research and development costs Research and development expenses consist of costs incurred in performing research and development activities, including salaries and bonuses, stock-based compensation, employee benefits, consulting costs, and external costs of vendors engaged to conduct research, preclinical and clinical development activities. Costs for research and development activities are expensed in the period in which they are incurred. Payments for such activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the consolidated financial statements as prepaid expense or accrued research and development expense. Determining the prepaid and accrued balances at the end of any reporting period incorporates certain judgments and estimates by management that are based on information available to the Company including information provided by vendors regarding the progress to completion of specific tasks or costs incurred.​​​​​​​ Patent costs All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses. Stock-based compensation The Company measures stock options with service-based vesting granted to employees, non-employees The Company classifies stock-based compensation expense in its consolidated statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified. Comprehensive income (loss) Comprehensive income (loss) includes net income (loss) as well as other changes in stockholders’ equity (deficit) that result from transactions and economic events other than those with stockholders. The Company’s only element of other comprehensive income (loss) are unrealized gains (losses) on marketable securities. Net income (loss) per share Prior to the closing of the IPO, the Company followed the two-class method The two-class method The two-class method Subsequent to the closing of the IPO, basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock options and unvested restricted stock units. For periods in which the Company reported a net loss, diluted net loss per common share is the same as basic net loss per common share, since dilutive common shares are not assumed to have been issued if their affect is anti-dilutive. The Company has two classes of common stock outstanding: Class A common stock and Class B common stock. As more fully described in Note 8, the rights of the holders of Class A and Class B common stock are substantially identical, except with respect to voting and conversion. Each share of Class B common stock is convertible into one share of Class A common stock at the option of the holder at any time, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation. The Company allocates undistributed earnings attributable to common stock between the common stock classes on a one-to-one The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: As of December 31, 2021 2020 Convertible preferred stock (as converted to common stock) — 16,711,823 Unvested restricted common stock 21,129 45,561 Options to purchase common stock 4,909,545 1,433,956 4,930,674 18,191,340 Income taxes The Company accounts for income taxes using 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 recognized in the consolidated financial statements or in the Company’s tax returns. Deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to the provision for income taxes. Potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step more-likely-than-not Recently issued accounting pronouncements The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected not to “opt out” of the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. In February 2016, the FASB issued ASU No. 2016-02, 2016-02”), right-of-use 2016-02, 2018-10, 2018-11, be applied as of the adoption date with a cumulative-effect adjustment to the opening balance of retained earnings rather than retroactive restatement of all periods presented. In June 2020, the FASB issued ASU No. 2020-05, one-year right-of-use In June 2016, the FASB issued ASU No. 2016-13, No. 2019-10,

Marketable Securities

Marketable Securities	12 Months Ended
	Dec. 31, 2021
Marketable Securities [Abstract]
Marketable Securities	3. Marketable Securities Marketable securities by security type consisted of the following (in thousands): December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Commercial paper (due within one year) $ 121,156 $ — $ (44 ) $ 121,112 Corporate bonds (due within one year) 43,756 — (60 ) 43,696 Government securities (due within one year) 4,583 — (10 ) 4,573 U.S. treasury securities (due within one year) 10,056 — (9 ) 10,047 Corporate bonds (due after one year through two years) 36,218 1 (99 ) 36,120 Government securities (due after one year through two years) 4,045 — (8 ) 4,037 $ 219,814 $ 1 $ (230 ) $ 219,585 The Company had no marketable securities as of December 31, 2020.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following tables present the Company’s fair value hierarchy for its assets and liabilities, which are measured at fair value on a recurring basis (in thousands): Fair Value Measurements at December 31, 2021 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 67,522 $ — $ — $ 67,522 Marketable securities: Commercial paper — 121,112 — 121,112 Corporate bonds — 79,816 — 79,816 Government securities — 8,610 — 8,610 U.S. treasury securities — 10,047 — 10,047 $ 67,522 $ 219,585 $ — $ 287,107 Fair Value Measurements at December 31, 2020 Using: Level 1 Level 2 Level 3 Total Liabilities: Preferred stock tranche rights $ — $ — $ 1,957 $ 1,957 Money market funds were valued by the Company based on quoted market prices, which represent a Level 1 measurement within the fair value hierarchy. Corporate bonds, commercial paper and government securities were valued by the Company using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy. During the years ended December 31, 2021 and 2020, there were no transfers in or out of Level 3. The following table provides a roll-forward of the aggregate fair values of the Company’s preferred stock tranche rights, for which fair value was determined by Level 3 inputs (in thousands): Preferred Stock Fair value at December 31, 2020 $ 1,957 Change in fair value 635 Settlement of preferred stock tranche rights (2,592 ) Fair value at December 31, 2021 $ — The preferred stock tranche rights represented the fair value of the rights and obligations of the original purchasers of the Series A convertible preferred stock to participate in subsequent closings of Series A convertible preferred stock upon the achievement of certain strategic milestones or as determined by the Series A investors (the “Series A Tranche Rights”), which were fully settled by March 31, 2021. The Series A Tranche Rights met the definition of a freestanding financial instrument as the Series A Tranche Rights were legally detachable and separately exercisable from the Series A convertible preferred stock. The fair value of the Series A Tranche Rights were initially classified as a liability and recorded at fair value and were subject to remeasurement at each reporting date until each Series A Tranche Right was exercised. The fair values of the Series A Tranche Rights were based on significant inputs not observable in the market, which represented a Level 3 measurement within the fair value hierarchy. The Company’s valuation of the Series A Tranche Rights utilized a scenario-based valuation analysis, which incorporated assumptions and estimates to value the Series A Tranche Rights and a probability assessment of the achievement of the milestones. The Company assessed these assumptions and estimates at the end of each reporting period as additional information impacting the assumptions were obtained. The quantitative elements associated with the Company’s Level 3 inputs impacting the fair value measurement of the Series A Tranche Rights included the fair value per share of the underlying convertible preferred stock, the expected term of the Series A Tranche Rights, risk-free interest rate, expected dividend yield and expected volatility of the price of the underlying convertible preferred stock. The Company determined the fair value per share of the underlying convertible preferred stock by taking into consideration its most recent sales of its convertible preferred stock as well as additional factors that the Company deemed relevant. The Company historically has been a private company and lacks company-specific historical and implied volatility information of its stock. Therefore, it estimated its expected stock volatility based on the historical volatility of a representative group of public companies in the biotechnology industry for the expected terms. The risk-free interest rate was determined by reference to the U.S. Treasury yield curve for time periods approximately equal to the expected terms. The Company estimated a 0% dividend yield based on the expected dividend yield and the fact that the Company has never paid or declared dividends. The Company assessed the probabilities of achieving the milestones related to each tranche upon issuance and at the end of each reporting period. Probabilities ranged from 90.0% to 100.0% and expected terms ranged from 0.2 years to 1.6 years. As of December 31, 2020, the fair value of the Company’s Series A convertible preferred stock was $0.53 per share. The Series A Tranche Rights were exercised in March 2020, August 2020 and February 2021. All Series A Tranche Rights were settled by March 31, 2021.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): December 31, 2021 2020 Accrued employee compensation and benefits $ 2,730 $ 636 Accrued external research and development expenses 1,757 405 Accrued insurance 976 — Other 431 130 $ 5,894 $ 1,171

Notes Payable to Related Party

Notes Payable to Related Party	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Notes Payable to Related Party	6. Notes Payable to Related Party In February 2017, the Company issued $2.0 million of promissory notes (the “Notes”) to Deerfield Healthcare Innovations Fund, L.P. and Deerfield Private Design Fund, IV, L.P. (collectively “Deerfield”), an investor in the Company. The Notes accrued interest at a rate of 2.81% per annum, compounded annually, and matured upon the earlier of a change in control event as defined in the Company’s charter or five years from issuance. In connection with the issuance of the Notes, the Company entered into a revenue share agreement with Deerfield for contingent payments of a low single digit percentage rate of net sales of commercial product (see Note 11). In February paid-in

Convertible Preferred Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Convertible Preferred Stock	7. Convertible Preferred Stock The Company had issued Series A convertible preferred stock (the “Series A”) and Series B convertible preferred stock (the “Series B”). The Series A and Series B are collectively referred to as the “Preferred Stock”. Preferred Stock consisted of the following as of December 31, 2020: Preferred Stock Preferred Stock Carrying Value Liquidation Common Stock (in thousands) (in thousands) Series A Preferred Stock 112,431,508 89,945,206 $ 35,354 $ 40,000 16,711,823 112,431,508 89,945,206 $ 35,354 $ 40,000 16,711,823 In April 2021, the Company issued and sold 65,223,679 shares of Series B at a price of $2.0698 per share, for gross proceeds of $135.0 million. There were no tranche rights granted in connection with the Series B issuance and sale. Upon the closing of the IPO, all of the shares of the Company’s outstanding Preferred Stock automatically converted into shares of Class A and Class B common stock.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common Stock	8. Common Stock On July 23, 2021, the Company filed an amendment to its amended and restated certificate of incorporation, which effected a recapitalization of the Company’s then outstanding common stock to Class A common stock and authorized an additional new class of Class B common stock. The are non-voting, except Restricted common stock The Company has outstanding shares of restricted common stock. Shares of unvested restricted common stock may not be sold or transferred by the holder. Vesting may be accelerated upon a change in control, as defined in the restricted stock agreement. If the holders cease to have a business relationship with the Company, the Company may repurchase any unvested shares of common stock held by these individuals at their original purchase price (which was a nominal amount).

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	9. Stock-Based Compensation 2017 stock option and grant plan The Company’s 2017 Stock Option and Grant Plan (the “2017 Plan”) provided for the Company to grant incentive stock options or nonqualified stock options and other equity awards to employees, directors and consultants of the Company. The 2017 Plan was administered by the board of directors or, at the discretion of the board of directors, by a committee of the board of directors. The exercise prices, vesting and other restrictions were determined at the discretion of the board of directors, or its committee if so delegated. Upon effectiveness of the Company’s 2021 Stock Option and Incentive Plan (the “2021 Plan”) in August 2021, the remaining shares available under the 2017 Plan ceased to be available for issuance and no future issuances will be made under the 2017 Plan. 2021 equity incentive plan On options, non-qualified stock directors . 2021 employee stock purchase plan On July 23, 2021, the Company’s board of directors adopted and its stockholders approved the 2021 Employee Stock Purchase Plan (the “ESPP”), which became effective on July 28, 2021. A total of 473,064 shares of Class A common stock were reserved for issuance under this plan. In addition, the number of shares of Class A common stock that may be issued under the ESPP will automatically increase on January 1, 2022, and each January thereafter through January 1, 2031, by the least of (i) shares of Class A common stock, (ii) % of the number of shares of the Company’s Class A and Class B common stock outstanding on the immediately preceding December 31st or (iii) such lesser number of shares as determined by the administrator of the Company’s ESPP. As of December 31, 2021, no offering periods have commenced under the ESPP. The number of authorized shares reserved for issuance was increased by shares effective as of January 1, 2022, in accordance with the provisions of the ESPP described above. Stock option valuation The fair value of stock option grants is estimated using the Black-Scholes option-pricing model. The Company historically has been a private company and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based on the historical volatility of a publicly traded set of peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted: Year Ended December 31, 2021 2020 Risk-free interest rate 0.8 % 0.4 % Expected volatility 79.8 % 81.2 % Expected dividend yield — — Expected term (in years) 6.1 6.3 The following table summarizes the Company’s option activity since December 31, 2020: Number Weighted Weighted Aggregate (in years) (in thousands) Outstanding as of December 31, 2020 1,433,956 $ 0.69 9.43 $ 255 Granted 3,535,047 8.68 Exercised (13,460 ) 0.87 Forfeited (45,998 ) 1.65 Outstanding as of December 31, 2021 4,909,545 $ 6.44 9.09 $ 62,702 Vested and expected to vest as of December 31, 2021 4,909,545 $ 6.44 9.09 $ 62,702 Options exercisable as of December 31, 2021 670,299 $ 2.13 8.42 $ 11,330 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2021 and 2020 was $0.3 million and less than $0.1 million, respectively. The weighted average grant-date fair value of stock options granted during the years ended December 31, 2021 and 2020 was $5.87 per share and $0.49 per share, respectively. Restricted common stock During 2017, the Company issued and sold 1,300,600 shares of restricted common stock at par value to the scientific founder of the Company (the “Original Shares”). The Original Shares vested as to 25% of the total on the date of grant and the remaining 75% were vested over a period of three years. The Company has also issued shares of restricted stock that generally vest over four years. The following table summarizes the Company’s restricted common stock activity since the year ended December 31, 2020 (in thousands, except share amounts): Shares Weighted Average Unvested restricted common stock as of December 31, 2020 45,561 $ 30 Issued — $ — Vested (24,432 ) $ 8 Forfeited — $ — Unvested restricted common stock as of December 31, 2021 21,129 $ 22 The aggregate fair value of restricted stock that vested during the year ended December 31, 2021 was less than $0.1 million. The aggregate fair value of restricted stock that vested during the year ended December 31, 2020 was $0.1 million. Stock-based compensation The Company recorded stock-based compensation expense related to common stock options and restricted common stock in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands): Year Ended December 31, 2021 2020 Research and development expenses $ 1,349 $ 657 General and administrative expenses 2,202 72 $ 3,551 $ 729 As of December 31, 2021, total unrecognized compensation cost related to common stock options and unvested restricted stock was $17.7 million, which is expected to be recognized over a weighted average period of 2.97 years.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes During the years ended December 31, 2021 and 2020, the Company recorded no income tax benefits for the net operating losses incurred or for the research and development tax credits generated in each year, due to its uncertainty of realizing a benefit from those items. All of the Company’s operating losses since inception have been generated in the United States. A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows: Year Ended December 31, 2021 2020 Federal statutory income tax rate 21.0 % 21.0 % State income taxes, net of federal benefit 6.2 7.2 Permanent differences — (1.9 ) Tax credits generated 4.1 4.6 Change in deferred tax asset valuation allowance (29.5 ) (34.2 ) Series A tranche rights change in fair value (1.1 ) 3.4 Stock-based compensation (0.7 ) (0.1 ) Effective income tax rate (0.0 )% (0.0 )% Net deferred tax assets consisted of the following (in thousands): December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 19,951 $ 8,300 Research and development tax credit carryforwards 2,175 497 Intangible assets 74 821 Stock-based compensation 499 — Other 705 165 Total deferred tax assets 23,404 9,783 Valuation allowance (23,400 ) (9,780 ) Net deferred tax assets 4 3 Deferred tax liabilities: Other $ (4 ) $ (3 ) Total deferred tax liabilities (4 ) (3 ) Net deferred tax assets $ — $ — As of December 31, 2021, the Company had U.S. federal and state net operating loss carryforwards of $73.2 million and $72.5 million, respectively, which may be available to offset future taxable income. The federal net operating losses include $1.1 million which expire in 2037 Utilization of the U.S. federal and state net operating loss carryforwards and research and development tax credit carryforwards may be subject to a substantial annual limitation under Sections 382 and 383 of the Internal Revenue Code of 1986, and corresponding provisions of state law, due to ownership changes that have occurred previously or that could occur in the future. These ownership changes may limit the amount of carryforwards that can be utilized annually to offset future taxable income or tax liabilities. In general, an ownership change, as defined by Section 382, results from transactions increasing the ownership of certain stockholders or public groups in the stock of a corporation by more than 50% over a three-year period. The Company has not conducted a study to assess whether a change of control has occurred or whether there have been multiple changes of control since inception due to the significant complexity and cost associated with such a study. If the Company has experienced a change of control, as defined by Section 382, at any time since inception, utilization of the net operating loss carryforwards or research and development tax credit carryforwards would be subject to an annual limitation under Section 382. Any limitation may result in expiration of a portion of the net operating loss carryforwards or research and development tax credit carryforwards before utilization. Further, until a study is completed by the Company and any limitation is known, no amounts are being presented as an uncertain tax position. The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. Management has considered the Company’s history of cumulative net losses incurred since inception and its lack of commercialization of any products that would generate revenue from product sales and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred tax assets. Accordingly, a full valuation allowance has been established against the net deferred tax assets as of December 31, 2021 and 2020. Management reevaluates the positive and negative evidence at each reporting period. The valuation allowance increased during the years ended December 31, 2021 and 2020, primarily as a result of the increase in net operating loss carryforwards. The changes in the valuation allowance for the years ended December 31, 2021 and 2020 were as follows (in thousands): Year Ended December 31, 2021 2020 Valuation allowance as of beginning of year $ 9,780 $ 4,796 Increases recorded to income tax provision 13,620 4,984 Valuation allowance as of end of year $ 23,400 $ 9,780 As of December 31, 2021 and 2020, the Company had not recorded any amounts for unrecognized tax benefits. The Company files income tax returns in the U.S. and Massachusetts, as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no pending tax examinations. The Company is open to future tax examination under statute from 2018 to the present.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Revenue share The last-to-expire Indemnification agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, contract research organizations, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and its executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. The Company has not incurred any material costs as a result of such indemnifications and is not currently aware of any indemnification claims.

Defined Contribution Plan

Defined Contribution Plan	12 Months Ended
	Dec. 31, 2021
Defined Contribution Plan [Abstract]
Defined Contribution Plan	12. Defined Contribution Plan The Company has a 401(k) defined contribution plan (the “401(k) Plan”) for its employees. Eligible employees may make pretax contributions to the 401(k) Plan up to statutory limits. There was no discretionary match made under the 401(k) Plan as of December 31, 2021 and 2020. In September 2021, the Company adopted a match program for employee contributions to the 401(k) Plan up to a maximum of six

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Parties	13. Related Parties The Company had issued certain promissory notes to Deerfield, an investor in the Company. In February 2021, the promissory notes and accrued interest were converted to Series A (see Note 6). The Company is obligated to pay low single digit percentage rates of net sales of certain commercial products to Deerfield and its scientific founder. As of December 31, 2021 and 2020, no products have been commercialized and no amounts have been paid or become due (see Note 11). In February 2017, the Company entered into a three-year consulting agreement with the scientific founder of the Company who is also a board member and a stockholder. The consulting agreement between the scientific founder and the Company continues at will. During the years ended December 31, 2021 and 2020, the Company paid the scientific founder $0.3 million and $0.2 million, respectively. As of December 31, 2021 and 2020, the Company had less than $0.1 million and no accounts payable, respectively, to the scientific founder. In June 2020, the Company loaned $0.3 million to the scientific founder of the Company who is also a board member and a stockholder of the Company related to the issuance of common stock (see Note 9) pursuant to a promissory note. The promissory note provided that the unpaid principal amount of the loan bore interest at 2.86% annually, and interest was payable annually or was converted to principal at the maturity date. The promissory note provided that the maturity date of the promissory note would occur on the earliest to occur of (i) June 11, 2024, (ii) 60 calendar days following the date of termination of services of the stockholder, and (iii) immediately prior to an initial filing of a registration statement by the Company. The promissory note was fully repaid and cancelled in July 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the valuation of common stock prior to the IPO and preferred stock tranche rights prior to their settlement, the valuation of stock-based awards and the accrual of research and development expenses. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions.
Concentrations of credit risk and of significant suppliers	Concentrations of credit risk and of significant suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. As of December 31, 2021 and 2020, the Company maintained cash, cash equivalents and marketable securities balances in excess of federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company is dependent on third-party vendors for the manufacturing of its product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of vendors to manufacture materials and components required for the production of its product candidates. These programs could be adversely affected by a significant interruption in the manufacturing process.
Cash equivalents	Cash equivalents The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents.
Fair value measurements	Fair value measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company’s cash equivalents and marketable securities are carried at fair value, determined according to the fair value hierarchy described above (see Note 4). The carrying values of the Company’s accounts payable and accrued expenses approximate their fair values due to the short-term nature of these liabilities.
Marketable securities	Marketable securities The Company’s marketable securities (non-equity available-for-sale The Company evaluates its marketable securities with unrealized losses for other-than-temporary impairment. When assessing marketable securities for other-than-temporary declines in value, the Company considers such factors as, among other things, how significant the decline in value is as a percentage of the original cost, how long the market value of the investment has been less than its original cost, the Company’s ability and intent to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. If any adjustment to fair value reflects a decline in the value of the investment that the Company considers to be “other than temporary,” the Company reduces the investment to fair value through a charge recorded in the consolidated statements of operations. No such adjustments were necessary during the periods presented. The Company classifies its marketable securities with maturities beyond one year as short-term, based on their highly liquid nature and because such marketable securities are available for current operations.
Segment information	Segment information The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. All of the Company’s operations are in the United States.
Research and development costs	Research and development costs Research and development expenses consist of costs incurred in performing research and development activities, including salaries and bonuses, stock-based compensation, employee benefits, consulting costs, and external costs of vendors engaged to conduct research, preclinical and clinical development activities. Costs for research and development activities are expensed in the period in which they are incurred. Payments for such activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the consolidated financial statements as prepaid expense or accrued research and development expense. Determining the prepaid and accrued balances at the end of any reporting period incorporates certain judgments and estimates by management that are based on information available to the Company including information provided by vendors regarding the progress to completion of specific tasks or costs incurred.​​​​​​​
Patent costs	Patent costs All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.
Stock-based compensation	Stock-based compensation The Company measures stock options with service-based vesting granted to employees, non-employees The Company classifies stock-based compensation expense in its consolidated statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified.
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) includes net income (loss) as well as other changes in stockholders’ equity (deficit) that result from transactions and economic events other than those with stockholders. The Company’s only element of other comprehensive income (loss) are unrealized gains (losses) on marketable securities.
Net income (loss) per share	Net income (loss) per share Prior to the closing of the IPO, the Company followed the two-class method The two-class method The two-class method Subsequent to the closing of the IPO, basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock options and unvested restricted stock units. For periods in which the Company reported a net loss, diluted net loss per common share is the same as basic net loss per common share, since dilutive common shares are not assumed to have been issued if their affect is anti-dilutive. The Company has two classes of common stock outstanding: Class A common stock and Class B common stock. As more fully described in Note 8, the rights of the holders of Class A and Class B common stock are substantially identical, except with respect to voting and conversion. Each share of Class B common stock is convertible into one share of Class A common stock at the option of the holder at any time, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation. The Company allocates undistributed earnings attributable to common stock between the common stock classes on a one-to-one The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: As of December 31, 2021 2020 Convertible preferred stock (as converted to common stock) — 16,711,823 Unvested restricted common stock 21,129 45,561 Options to purchase common stock 4,909,545 1,433,956 4,930,674 18,191,340
Income taxes	Income taxes The Company accounts for income taxes using 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 recognized in the consolidated financial statements or in the Company’s tax returns. Deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to the provision for income taxes. Potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step more-likely-than-not
Recently issued accounting pronouncements	Recently issued accounting pronouncements The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected not to “opt out” of the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. In February 2016, the FASB issued ASU No. 2016-02, 2016-02”), right-of-use 2016-02, 2018-10, 2018-11, be applied as of the adoption date with a cumulative-effect adjustment to the opening balance of retained earnings rather than retroactive restatement of all periods presented. In June 2020, the FASB issued ASU No. 2020-05, one-year right-of-use In June 2016, the FASB issued ASU No. 2016-13, No. 2019-10,

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: As of December 31, 2021 2020 Convertible preferred stock (as converted to common stock) — 16,711,823 Unvested restricted common stock 21,129 45,561 Options to purchase common stock 4,909,545 1,433,956 4,930,674 18,191,340

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Marketable Securities [Abstract]
Summary of Marketable securities by Security	Marketable securities by security type consisted of the following (in thousands): December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Commercial paper (due within one year) $ 121,156 $ — $ (44 ) $ 121,112 Corporate bonds (due within one year) 43,756 — (60 ) 43,696 Government securities (due within one year) 4,583 — (10 ) 4,573 U.S. treasury securities (due within one year) 10,056 — (9 ) 10,047 Corporate bonds (due after one year through two years) 36,218 1 (99 ) 36,120 Government securities (due after one year through two years) 4,045 — (8 ) 4,037 $ 219,814 $ 1 $ (230 ) $ 219,585

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The following tables present the Company’s fair value hierarchy for its assets and liabilities, which are measured at fair value on a recurring basis (in thousands): Fair Value Measurements at December 31, 2021 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 67,522 $ — $ — $ 67,522 Marketable securities: Commercial paper — 121,112 — 121,112 Corporate bonds — 79,816 — 79,816 Government securities — 8,610 — 8,610 U.S. treasury securities — 10,047 — 10,047 $ 67,522 $ 219,585 $ — $ 287,107 Fair Value Measurements at December 31, 2020 Using: Level 1 Level 2 Level 3 Total Liabilities: Preferred stock tranche rights $ — $ — $ 1,957 $ 1,957
Schedule of Roll Forward of the Aggregate Fair Value of the Preferred Stock Tranche Rights	The following table provides a roll-forward of the aggregate fair values of the Company’s preferred stock tranche rights, for which fair value was determined by Level 3 inputs (in thousands): Preferred Stock Fair value at December 31, 2020 $ 1,957 Change in fair value 635 Settlement of preferred stock tranche rights (2,592 ) Fair value at December 31, 2021 $ —

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): December 31, 2021 2020 Accrued employee compensation and benefits $ 2,730 $ 636 Accrued external research and development expenses 1,757 405 Accrued insurance 976 — Other 431 130 $ 5,894 $ 1,171

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of Redeemable Convertible Preferred Stock	Preferred Stock consisted of the following as of December 31, 2020: Preferred Stock Preferred Stock Carrying Value Liquidation Common Stock (in thousands) (in thousands) Series A Preferred Stock 112,431,508 89,945,206 $ 35,354 $ 40,000 16,711,823 112,431,508 89,945,206 $ 35,354 $ 40,000 16,711,823

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of share based payment award stock options valuation assumptions	The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted: Year Ended December 31, 2021 2020 Risk-free interest rate 0.8 % 0.4 % Expected volatility 79.8 % 81.2 % Expected dividend yield — — Expected term (in years) 6.1 6.3
Summary of Share-based payment arrangement, option, activity	The following table summarizes the Company’s option activity since December 31, 2020: Number Weighted Weighted Aggregate (in years) (in thousands) Outstanding as of December 31, 2020 1,433,956 $ 0.69 9.43 $ 255 Granted 3,535,047 8.68 Exercised (13,460 ) 0.87 Forfeited (45,998 ) 1.65 Outstanding as of December 31, 2021 4,909,545 $ 6.44 9.09 $ 62,702 Vested and expected to vest as of December 31, 2021 4,909,545 $ 6.44 9.09 $ 62,702 Options exercisable as of December 31, 2021 670,299 $ 2.13 8.42 $ 11,330
Summary of share-based payment arrangement, restricted stock unit, activity	The following table summarizes the Company’s restricted common stock activity since the year ended December 31, 2020 (in thousands, except share amounts): Shares Weighted Average Unvested restricted common stock as of December 31, 2020 45,561 $ 30 Issued — $ — Vested (24,432 ) $ 8 Forfeited — $ — Unvested restricted common stock as of December 31, 2021 21,129 $ 22
Summary of stock-based compensation expenses	The Company recorded stock-based compensation expense related to common stock options and restricted common stock in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands): Year Ended December 31, 2021 2020 Research and development expenses $ 1,349 $ 657 General and administrative expenses 2,202 72 $ 3,551 $ 729

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of effective income tax rate reconciliation	A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows: Year Ended December 31, 2021 2020 Federal statutory income tax rate 21.0 % 21.0 % State income taxes, net of federal benefit 6.2 7.2 Permanent differences — (1.9 ) Tax credits generated 4.1 4.6 Change in deferred tax asset valuation allowance (29.5 ) (34.2 ) Series A tranche rights change in fair value (1.1 ) 3.4 Stock-based compensation (0.7 ) (0.1 ) Effective income tax rate (0.0 )% (0.0 )%
Schedule of deferred tax assets and liabilities	Net deferred tax assets consisted of the following (in thousands): December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 19,951 $ 8,300 Research and development tax credit carryforwards 2,175 497 Intangible assets 74 821 Stock-based compensation 499 — Other 705 165 Total deferred tax assets 23,404 9,783 Valuation allowance (23,400 ) (9,780 ) Net deferred tax assets 4 3 Deferred tax liabilities: Other $ (4 ) $ (3 ) Total deferred tax liabilities (4 ) (3 ) Net deferred tax assets $ — $ —
Summary of valuation allowance	The changes in the valuation allowance for the years ended December 31, 2021 and 2020 were as follows (in thousands): Year Ended December 31, 2021 2020 Valuation allowance as of beginning of year $ 9,780 $ 4,796 Increases recorded to income tax provision 13,620 4,984 Valuation allowance as of end of year $ 23,400 $ 9,780

Nature of Business and Basis _2

Nature of Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Aug. 02, 2021	Jul. 23, 2021	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reverse stock split		one-for-5.38213
Net proceeds from initial public offering	$ 174,300
Net loss			$ (46,338)	$ (14,556)
Accumulated deficit			$ (78,223)	$ (31,885)
Common stock, voting rights		Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting, except as may be required by law.	Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting, except as may be required by law.	Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting, except as may be required by law.
Common Class A [Member] | IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period shares new shares	10,612,500
Shares issued price per share	$ 17
Common Class A [Member] | IPO [Member] | Over-Allotment Option [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period shares new shares	1,462,500
Common Class B [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, terms of conversion		Each share of Class B common stock may be converted at any time into one share of Class A common stock at the option of its holder, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation.	Each share of Class B common stock may be converted at any time into one share of Class A common stock at the option of its holder, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation.
Common Class B [Member] | IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period shares new shares	600,000
Shares issued price per share	$ 17

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	4,930,674	18,191,340
Convertible preferred stock (as converted to common stock) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	16,711,823
Unvested restricted common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	21,129	45,561
Options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	4,909,545	1,433,956

Marketable Securities - Summary

Marketable Securities - Summary of Marketable securities by Security (Detail) $ in Thousands	Dec. 31, 2021USD ($)
Marketable Securities [Line Items]
Amortized Cost	$ 219,814
Gross Unrealized Gains	1
Gross Unrealized Losses	(230)
Fair Value	219,585
Corporate bonds | Due from one to two years
Marketable Securities [Line Items]
Amortized Cost	36,218
Gross Unrealized Gains	1
Gross Unrealized Losses	(99)
Fair Value	36,120
Corporate bonds | Due within one year
Marketable Securities [Line Items]
Amortized Cost	43,756
Gross Unrealized Losses	(60)
Fair Value	43,696
Commercial paper
Marketable Securities [Line Items]
Amortized Cost	121,156
Gross Unrealized Losses	(44)
Fair Value	121,112
Government Securities [Member] | Due from one to two years
Marketable Securities [Line Items]
Amortized Cost	4,045
Gross Unrealized Losses	(8)
Fair Value	4,037
Government Securities [Member] | Due within one year
Marketable Securities [Line Items]
Amortized Cost	4,583
Gross Unrealized Losses	(10)
Fair Value	4,573
US Treasury Securities [Member] | Due within one year
Marketable Securities [Line Items]
Amortized Cost	10,056
Gross Unrealized Losses	(9)
Fair Value	$ 10,047

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Marketable Securities [Abstract]
Marketable securities	$ 219,585	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Marketable securities	$ 219,585
Total assets	287,107
Money Market Funds [Member]
Assets:
Cash equivalents	67,522
Commercial Paper [Member]
Assets:
Marketable securities	121,112
Corporate Bond Securities [Member]
Assets:
Marketable securities	79,816
Government Securities [Member]
Assets:
Marketable securities	8,610
US Treasury Securities [Member]
Assets:
Marketable securities	10,047
Fair value, inputs, level 1 [Member]
Assets:
Total assets	67,522
Fair value, inputs, level 1 [Member] | Money Market Funds [Member]
Assets:
Cash equivalents	67,522
Fair value, inputs, level 2 [Member]
Assets:
Total assets	219,585
Fair value, inputs, level 2 [Member] | Commercial Paper [Member]
Assets:
Marketable securities	121,112
Fair value, inputs, level 2 [Member] | Corporate Bond Securities [Member]
Assets:
Marketable securities	79,816
Fair value, inputs, level 2 [Member] | Government Securities [Member]
Assets:
Marketable securities	8,610
Fair value, inputs, level 2 [Member] | US Treasury Securities [Member]
Assets:
Marketable securities	$ 10,047
Preferred stock tranche rights [Member]
Liabilities:
Preferred stock tranche rights		$ 1,957
Preferred stock tranche rights [Member] | Fair value, inputs, level 3 [Member]
Liabilities:
Preferred stock tranche rights		$ 1,957

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Roll Forward of the Aggregate Fair Value of the Preferred Stock Tranche Rights (Detail) - Preferred stock tranche rights [Member] - Fair value, inputs, level 3 [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value at December 31, 2020	$ 1,957
Change in fair value	635
Settlement of preferred stock tranche rights	(2,592)
Fair value at September 30, 2021	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)yr	Dec. 31, 2020USD ($)$ / shares
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value transfers in or out of Level 3 | $	$ 0	$ 0
Series A convertible preferred stock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Redeemable convertible preferred stock fair value per share | $ / shares		$ 0.53
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Probability of achieving milestones	100.00%
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Probability of achieving milestones	90.00%
Measurement input, expected dividend rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible preferred stock, measurement input	0
Measurement input, expected term [Member] | Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible preferred stock, measurement input	1.6
Measurement input, expected term [Member] | Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible preferred stock, measurement input	0.2

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Liabilities, Current [Abstract]
Accrued employee compensation and benefits	$ 2,730	$ 636
Accrued external research and development expenses	1,757	405
Accrued insurance	976
Other	431	130
Total Accrued expenses	$ 5,894	$ 1,171

Notes Payable to Related Party

Notes Payable to Related Party - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2021	Feb. 28, 2017	Dec. 31, 2021
Related Party Transaction [Line Items]
Loss on extinguishment of debt			$ (580)
Convertible preferred stock [Member]
Related Party Transaction [Line Items]
Conversion of note payable and accrued interest to Series A convertible preferred stock , Shares			5,025,604
Deerfield Healthcare Innovations Fund L.P. And Deerfield Private Design Fund IV, L.P [Member] | Promissory Note [Member]
Related Party Transaction [Line Items]
Debt instrument face amount		$ 2,000
Debt instrument interest rate percentage		2.81%
Loss on extinguishment of debt	$ (600)
Deerfield Healthcare Innovations Fund L.P. And Deerfield Private Design Fund IV, L.P [Member] | Promissory Note [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Debt instrument term		5 years
Deerfield Healthcare Innovations Fund L.P. And Deerfield Private Design Fund IV, L.P [Member] | Promissory Note [Member] | Convertible preferred stock [Member]
Related Party Transaction [Line Items]
Conversion of note payable and accrued interest to Series A convertible preferred stock , Shares	5,025,604

Convertible Preferred Stock - S

Convertible Preferred Stock - Summary of Redeemable Convertible Preferred Stock (Detail) $ in Thousands	Dec. 31, 2020USD ($)shares
Temporary Equity [Line Items]
Preferred Stock Authorized	112,431,508
Preferred Stock Issued	89,945,206
Preferred Stock Outstanding	89,945,206
Carrying Value | $	$ 35,354
Liquidation Preference | $	$ 40,000
Common Stock Issuable Upon Conversion	16,711,823
Series A Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock Authorized	112,431,508
Preferred Stock Issued	89,945,206
Preferred Stock Outstanding	89,945,206
Carrying Value | $	$ 35,354
Liquidation Preference | $	$ 40,000
Common Stock Issuable Upon Conversion	16,711,823

Convertible Preferred Stock - A

Convertible Preferred Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Gross Proceeds from issuance of convertible preferred stock		$ 144,652	$ 22,500
Series B convertible preferred stock [Member]
Class of Stock [Line Items]
Issuance of convertible preferred stock , Shares	65,223,679
Issuance price per share	$ 2.0698
Gross Proceeds from issuance of convertible preferred stock	$ 135,000
Number of tranche rights granted temporary equity		0

Common Stock - Additional Infor

Common Stock - Additional Information (Detail)	Jul. 23, 2021	Dec. 31, 2021	Dec. 31, 2020
Common stock, voting rights	Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting, except as may be required by law.	Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting, except as may be required by law.	Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting, except as may be required by law.
Common Class B [Member]
Common stock, terms of conversion	Each share of Class B common stock may be converted at any time into one share of Class A common stock at the option of its holder, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation.	Each share of Class B common stock may be converted at any time into one share of Class A common stock at the option of its holder, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation.

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Share Based Payment Award Stock Options Valuation Assumptions (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Risk-free interest rate	0.80%	0.40%
Expected volatility	79.80%	81.20%
Expected dividend yield	0.00%	0.00%
Expected term (in years)	6 years 1 month 6 days	6 years 3 months 18 days

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Share Based Compensation Stock Options Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares	1,433,956
Number of Shares, Granted	3,535,047
Number of Shares, Exercised	(13,460)
Number of Shares, Forfeited	(45,998)
Ending Balance, Number of Shares	4,909,545	1,433,956
Number of Shares, Vested and expected to vest	4,909,545
Number of Shares, Options exercisable	670,299
Beginning Balance, Weighted Average Exercise Price	$ 0.69
Weighted Average Exercise Price, Granted	8.68
Weighted Average Exercise Price, Exercised	0.87
Weighted Average Exercise Price, Forfeited	1.65
Ending Balance, Weighted Average Exercise Price	6.44	$ 0.69
Weighted Average Exercise Price, Vested and expected to vest	6.44
Weighted Average Exercise Price, Options exercisable	$ 2.13
Weighted Average Contractual Term	9 years 1 month 2 days	9 years 5 months 4 days
Weighted Average Contractual Term, Vested and expected to vest	9 years 1 month 2 days
Weighted Average Contractual Term, Options exercisable	8 years 5 months 1 day
Aggregate Intrinsic Value, Beginning Balance	$ 255
Aggregate Intrinsic Value, Ending Balance	62,702	$ 255
Aggregate Intrinsic Value, Vested and expected to vest	62,702
Aggregate Intrinsic Value, Options exercisable	$ 11,330

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Share Based Compensation Restricted Stock Units Award Activity (Detail) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted common stock, Shares | shares	45,561
Unvested restricted common stock, Weighted Average Grant Date Fair Value | $ / shares	$ 30
Issued | shares	0
Weighted Average Grant Date Fair Value, Issued | $ / shares	$ 0
Vested | shares	(24,432)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 8
Forfeited | shares	0
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 0
Unvested restricted common stock, Shares | shares	21,129
Weighted Average Grant Date Fair Value, Weighted Average Grant Date Fair Value | $ / shares	$ 22

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 3,551	$ 729
Research and Development Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	1,349	657
General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 2,202	$ 72

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Jan. 01, 2022	Jul. 28, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2017
Unrecognized compensation cost related to common stock options and unvested restricted stock			$ 17.7
Share based payment weighted average period			2 years 11 months 19 days
Weighted average grant-date fair value of stock options granted			$ 5.87	$ 0.49
Aggregate intrinsic value of stock options exercised			$ 0.3
Common Class A [Member]
Number of authorized shares reserved		473,064
2021 Plan [Member]
Number of additional authorized shares reserved	2,414,871
2021 Equity Incentive Plan [Member]
Shares available for future issurance			5,267,107
2021 Equity Incentive Plan [Member] | Common Class A [Member]
Number of authorized shares reserved		5,866,004
2021 Employee Stock Purchase Plan [Member]
Number of additional authorized shares reserved	473,064
Restricted Stock [Member]
Service based vesting conditions			4 years
Aggregate fair value of restricted stock, vested				$ 0.1
Restricted Stock [Member] | Original Shares [Member]
Service based vesting conditions			3 years
Number Of shares issued					1,300,600
Restricted Stock [Member] | Original Shares [Member] | On The Date Of Grant [Member]
Percentage of shares vested					25.00%
Restricted Stock [Member] | Original Shares [Member] | Over Three Years [Member]
Percentage of shares vested					75.00%
Maximum [Member]
Aggregate intrinsic value of stock options exercised				$ 0.1
Maximum [Member] | 2021 Equity Incentive Plan [Member] | Class A and Class B Common Stock [Member]
Share based compensation arrangement by share based payment award cumulative annual increase percentage		5.00%
Maximum [Member] | 2021 Employee Stock Purchase Plan [Member] | Common Class A [Member]
Share based compensation arrangement by share based payment award annual increase amount		473,064
Maximum [Member] | 2021 Employee Stock Purchase Plan [Member] | Class A and Class B Common Stock [Member]
Share based compensation arrangement by share based payment award annual increase percentage		1.00%
Maximum [Member] | Restricted Stock [Member]
Aggregate fair value of restricted stock, vested			$ 0.1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unrecognized Tax Benefits	$ 0	$ 0
Description of income tax examination	In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no pending tax examinations. The Company is open to future tax examination under statute from 2018 to the present.
Operating loss carryforward offset limit percentage	80.00%
Earliest Tax Year [Member]
Open tax year	2018
State and Local Jurisdiction [Member]
Operating loss carryforwards	$ 72,500
Operating loss carryforward expiration year start	2037
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member]
Tax credit carryforwards research and development	$ 700
Tax credit carryforward expiration year start	2033
Domestic Tax Authority [Member]
Operating loss carryforwards	$ 73,200
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member]
Tax credit carryforwards research and development	$ 1,600
Tax credit carryforward expiration year start	2033
Domestic Tax Authority [Member] | Expirable [Member]
Operating loss carryforwards	$ 1,100
Operating loss carryforward expiration year start	2037
Domestic Tax Authority [Member] | Non expirable [Member]
Operating loss carryforwards	$ 72,100

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%
State income taxes, net of federal benefit	6.20%	7.20%
Permanent differences		(1.90%)
Tax credits generated	4.10%	4.60%
Change in deferred tax asset valuation allowance	(29.50%)	(34.20%)
Series A tranche rights change in fair value	(1.10%)	3.40%
Stock-based compensation	(0.70%)	(0.10%)
Effective income tax rate	0.00%	0.00%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets, Gross [Abstract]
Net operating loss carryforwards	$ 19,951	$ 8,300
Research and development tax credit carryforwards	2,175	497
Intangible assets	74	821
Stock-based compensation	499
Other	705	165
Total deferred tax assets	23,404	9,783
Valuation allowance	(23,400)	(9,780)	$ (4,796)
Net deferred tax assets	4	3
Deferred tax liabilities
Other	(4)	(3)
Total deferred tax liabilities	(4)	(3)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Valuation allowance as of beginning of year	$ 9,780	$ 4,796
Increases recorded to income tax provision	13,620	4,984
Valuation allowance as of end of year	$ 23,400	$ 9,780

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accrued liability	$ 0	$ 0

Defined Contribution Plan - Add

Defined Contribution Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined contribution plan, employer discretionary contribution amount		$ 0	$ 0
Forecast [Member]
Defined contribution plan employer matching contribution percent of match	6.00%

Related Parties - Additional In

Related Parties - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020
Consulting Agreement [Member]
Related party amounts paid	$ 0.3	$ 0.2
Accounts payable, related parties		0
Consulting Agreement [Member] | Maximum [Member]
Accounts payable, related parties	$ 0.1
Scientific Founder [Member]
Notes receivable related parties			$ 0.3
Loan bears interest rate			2.86%
Promissory note maturity date description	The promissory note provided that the maturity date of the promissory note would occur on the earliest to occur of (i) June 11, 2024, (ii) 60 calendar days following the date of termination of services of the stockholder, and (iii) immediately prior to an initial filing of a registration statement by the Company.
Deerfield And Scientific Founder [Member]
Related party amounts paid	$ 0	0
Accounts payable, related parties	$ 0	$ 0