Tyra Biosciences (TYRA) 10-K 22 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 20, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Transition Report	false
Entity File Number	001-40800
Entity Registrant Name	TYRA BIOSCIENCES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-1476348
Entity Address, Address Line One	2656 State Street
Entity Address, City or Town	Carlsbad
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92008
City Area Code	619
Local Phone Number	728-4760
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 Shell Company	false
Entity Common Stock, Shares Outstanding		42,436,215
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001863127
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	TYRA
Security Exchange Name	NASDAQ
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	Certain sections of the registrant’s definitive proxy statement for the 2023 annual meeting of stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Form 10-K are incorporated by reference into Part III of this Form 10-K.
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Ex Transition Period	false
Entity Public Float			$ 121.8
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	San Diego, California

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 251,213	$ 302,182
Prepaid and other current assets	6,075	1,875
Total current assets	257,288	304,057
Restricted cash	1,000	243
Property and equipment, net	1,077	1,027
Right-of-use asset	2,466	1,062
Other long-term assets	4,350	312
Total assets	266,181	306,701
Current liabilities:
Accounts payable (including related party amounts of $0 and $47 respectively)	1,145	599
Lease liabilities, current	140	202
Accrued and other current liabilities (including related party amounts of $59 and $0, respectively)	4,416	2,815
Total current liabilities	5,701	3,616
Lease liabilities, noncurrent	2,482	981
Other long-term liabilities	169	367
Total liabilities	8,352	4,964
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.0001 par value; 50,000,000 shares authorized at December 31, 2022 and December 31, 2021; no shares issued and outstanding at December 31, 2022 and December 31, 2021.	0	0
Common stock, $0.0001 par value; 500,000,000 shares authorized at December 31, 2022 and 2021; 42,634,459 and 42,536,183 shares issued at December 31, 2022 and December 31, 2021, respectively, and 42,353,550 and 41,441,135 shares outstanding at December 31, 2022 and December 31, 2021, respectively.	4	4
Additional paid-in capital	353,521	342,104
Accumulated deficit	(95,696)	(40,371)
Total stockholders' equity	257,829	301,737
Total liabilities and stockholders' equity	$ 266,181	$ 306,701

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts payable, related parties	$ 0	$ 47
Accrued and other related parties	$ 59	$ 0
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	42,634,459	42,536,183
Common stock, shares outstanding	42,353,550	41,441,135

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating expenses:
Research and development	$ 43,008	$ 20,636
General and administrative (including related party amounts of $765 and $435, respectively)	15,919	5,652
Total operating expenses	58,927	26,288
Loss from operations	(58,927)	(26,288)
Other (expense) income:
Interest income	3,652	13
Other expense	(50)	(19)
Total other expense	3,602	(6)
Net loss and comprehensive loss	$ (55,325)	$ (26,294)
Net loss per share, basic	$ (1.32)	$ (1.91)
Net loss per share, diluted	$ (1.32)	$ (1.91)
Weighted-average shares used to compute net loss basic	41,883,904	13,780,546
Weighted-average shares used to compute net loss diluted	41,883,904	13,780,546

Statements of Operations and _2

Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Related party transaction, selling, general and administrative expenses	$ 765	$ 435

Statements of Convertible Prefe

Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]
Convertible Preferred Stock, Beginning balance at Dec. 31, 2020					$ 27,651
Convertible Preferred Stock, Beginning balance (in shares) at Dec. 31, 2020					3,374,560
Beginning balance at Dec. 31, 2020	$ (13,638)		$ 439	$ (14,077)
Beginning balance (in shares) at Dec. 31, 2020		1,829,377
Issuance of convertible preferred stock, net of issuance costs					$ 23,495	$ 106,128
Issuance of convertible preferred stock, net of issuance costs, Shares					2,848,486	3,874,793
Preferred stock converted into shares of common stock	157,274	$ 3	157,271		$ (51,146)	$ (106,128)
Preferred stock converted into shares of common stock, Shares		26,228,089			(6,223,046)	(3,874,793)
Initial public offering of common shares, net of issuance costs	181,220	$ 1	181,219
Initial public offering of common shares, net of issuance costs, Shares		12,420,000
Issuance of common stock under benefit plans	89		89
Issuance of common stock under benefit plans, Shares		141,767
Vesting of shares of common stock subject to repurchase	199		199
Vesting of shares of common stock subject to repurchase, Shares		821,902
Stock-based compensation	2,887		2,887
Net loss	(26,294)			(26,294)
Convertible Preferred Stock, Ending balance at Dec. 31, 2021
Convertible Preferred Stock, Ending balance (in shares) at Dec. 31, 2021
Ending balance at Dec. 31, 2021	301,737	$ 4	342,104	(40,371)
Ending balance (in shares) at Dec. 31, 2021		41,441,135
Issuance of common stock under benefit plans	632		632
Issuance of common stock under benefit plans, Shares		98,276
Vesting of shares of common stock subject to repurchase	197		197
Vesting of shares of common stock subject to repurchase, Shares		814,139
Stock-based compensation	10,588		10,588
Net loss	(55,325)			(55,325)
Convertible Preferred Stock, Ending balance at Dec. 31, 2022
Convertible Preferred Stock, Ending balance (in shares) at Dec. 31, 2022
Ending balance at Dec. 31, 2022	$ 257,829	$ 4	$ 353,521	$ (95,696)
Ending balance (in shares) at Dec. 31, 2022		42,353,550

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (55,325)	$ (26,294)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	296	140
Stock-based compensation	10,588	2,887
Loss on disposal of property and equipment	3	3
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(8,238)	(2,108)
Accounts payable, accrued expenses and other liabilities	2,357	1,492
Right-of-use assets and lease liabilities, net	34	135
Net cash used in operating activities	(50,285)	(23,745)
Cash flows from investing activities:
Purchases of property and equipment	(559)	(661)
Proceeds from sale of property and equipment	0	16
Net cash used in investing activities	(559)	(645)
Cash flows from financing activities:
Proceeds from initial public offering, net of issuance costs	0	181,220
Proceeds from issuances of common stock under benefit plans	632	514
Payments for financing lease	0	(9)
Net cash provided by financing activities	632	311,348
Net cash increase for the period	(50,212)	286,958
Cash, cash equivalents and restricted cash at beginning of the period	302,425	15,467
Cash, cash equivalents and restricted cash at end of the period	252,213	302,425
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet
Cash and cash equivalents	251,213	302,182
Restricted cash	1,000	243
Total cash, cash equivalents and restricted cash	252,213	302,425
Supplemental disclosure of cash flow information:
Right-of-use asset obtained in exchange for lease liability	1,572	1,238
Non-cash investing and financing activities:
Conversion of convertible preferred stock in connection with initial public offering	0	157,274
Purchases of equipment included in accounts payable	0	209
Series A Convertible Preferred Stock [Member]
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock, net of issuance costs	0	23,495
Series B Convertible Preferred Stock [Member]
Cash flows from financing activities:
Proceeds from issuance of convertible preferred stock, net of issuance costs	$ 0	$ 106,128

Statements of Cash Flows (Paren

Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Related party transaction, accounts payable, accrued expenses and other liabilities	$ 12	$ 47

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Orga nization and Basis of Presentation Organization Tyra Biosciences, Inc. (the Company) was incorporated in the state of Delaware on August 2, 2018. The Company is a clinical-stage biotechnology company focused on developing next-generation precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology. The Company’s in-house precision medicine platform, SNÅP, enables rapid and precise drug design through iterative molecular SNÅPshots that help predict genetic alterations most likely to cause acquired resistance to existing therapies. The Company’s initial focus is on applying accelerated small molecule drug discovery engine to develop therapies in targeted oncology and genetically defined conditions. Since its inception, the Company has devoted substantially all of its resources to research and development activities, business planning, establishing and maintaining its intellectual property portfolio, hiring personnel, raising capital, and providing general and administrative support for these operations. It has incurred losses and negative cash flows from operations since commencement of its operations. The Company had an accumulated deficit of $ 95.7 million and cash and cash equivalents of $ 251.2 million as of December 31, 2022. From its inception through December 31, 2022, the Company has financed its operations primarily through the sale of common stock and private placements of its convertible preferred stock. As the Company continues its expansion, it may seek additional financing and/or strategic investments, however, there can be no assurance that any additional financing or strategic investments will be available to the Company on acceptable terms, if at all. If events or circumstances occur such that the Company does not obtain additional funding, it will most likely be required to reduce its plans and/or certain discretionary spending, which could have a material adverse effect on the Company’s ability to achieve its intended business objectives. Management believes that it has sufficient working capital on hand to fund operations through at least the next twelve months from the date of issuance of these financial statements. On September 17, 2021, the Company completed its initial public offering (the IPO) and issued 12,420,000 shares of common stock for net proceeds of approximately $ 181.2 million. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (ASC) and Accounting Standards Updates (ASU) promulgated by the Financial Accounting Standards Board (FASB).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Accounting estimates and management judgments reflected in the financial statements include: normal recurring accruals, including the accrual of research and development expenses and stock-based compensation. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions. Concentration of Credit Risk Financial instruments which potentially subject the Company to significant concentration of credit risk consist of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the nature of the instruments held in the depository institutions. Segment Reporting The Company operates and manages its business as one operating segment. The Company’s Chief Executive Officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for allocating resources and evaluating financial performance. All long-lived assets are maintained in the United States. Fair Value of Financial Instruments The accounting guidance defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The carrying amounts of all cash and cash equivalents, prepaid and other current assets, restricted cash, accounts payable, and accrued and other current liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Cash equivalents primarily represent funds invested in readily available money market accounts. As of December 31, 2022 , the Company had cash and cash equivalents balances deposited at major financial institutions. Restricted Cash Restricted cash is comprised of cash that is restricted as to withdrawal or use under the terms of certain contractual agreements. Restricted cash as of December 31, 2022 and 2021 was $ 1.0 million and $ 0.2 million, respectively, which consisted of collateral for letters of credit related to the Company’s operating leases which are considered a non-current asset on the balance sheets. Property and Equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets (generally three to seven years , or the remaining term of the lease). Impairment of Long-Lived Assets The Company accounts for the impairment of long-lived assets by reviewing these assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted-cash-flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. The Company did no t recognize impairment losses for the years December 31, 2022 and 2021 . Accrued Research and Development Expense Research and development expenses consist of external and internal costs associated with the Company’s research and development activities, including its discovery and research efforts and the preclinical and clinical development of its product candidates. Research and development costs are expensed in the period incurred. The Company has entered into various research and development contracts with clinical research organizations, clinical manufacturing organizations, clinical sites and other vendors and consultants. Payments for these activities are based on the terms of the individual agreements, which may differ from the pattern of costs incurred, and payments made in advance of or after performance are reflected in the accompanying balance sheets as prepaid expenses or accrued liabilities, respectively. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. The Company holds discussions with applicable personnel and outside service providers as to the progress of clinical trials, or the services completed. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Nonrefundable advance payments for goods and services, including fees for process development, are deferred and recognized as expense in the period that the related goods are consumed, or services are performed. Patent Costs The Company expenses all costs as incurred in connection with patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) and such costs are included in general and administrative expenses in the statements of operations and comprehensive loss. Leases The Company has operating leases for office and lab space. At the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, the Company records the associated lease liability and corresponding right-of-use asset (ROU) upon commencement of the lease using the implicit rate or a discount rate based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. The Company additionally evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. Operating lease assets represent a right to use an underlying asset for the lease term and operating lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease liabilities with a term greater than one year and their corresponding ROUs are recognized on the balance sheet at the commencement date of the lease based on the present value of lease payments over the expected lease term. The Company excludes short-term leases, if any, having initial terms of 12 months or less at lease commencement as an accounting policy election. Certain adjustments to the ROU may be required for items such as payments made at or before the commencement date, initial direct costs paid or lease incentives received. As the Company’s leases do not typically provide an implicit rate, the Company utilizes the appropriate incremental borrowing rate (IBR), determined as the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment. Lease cost is recognized on a straight-line basis over the lease term and variable lease payments are recognized as operating expenses in the period in which the obligation for those payments is incurred. Variable lease payments primarily include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor in proportion to the space leased by the Company. In measuring the ROU assets and lease liabilities, the Company has elected to combine lease and non-lease components. Operating ROU assets are reflected in ROU assets in the accompanying balance sheets. Operating lease liabilities are reflected in leases liabilities, current and noncurrent in the accompanying balance sheets. Stock-Based Compensation Stock-based compensation expense represents the cost of the grant date fair value of employee, officer, director and non-employee equity awards, estimated in accordance with the applicable accounting guidance, and, for those awards subject only to service conditions, recognized on a straight-line basis over the vesting period. The vesting period generally approximates the expected service period of the awards. The Company recognizes stock-based compensation expense for awards with performance conditions when it is probable that the condition will be met, and the award will vest. If the achievement of performance conditions is no longer deemed probable, previously recognized compensation cost is reversed. For awards with performance and service conditions, the Company begins recording share-based compensation when achieving the performance criteria is probable and recognizes the costs using the accelerated attribution method. The Company recognizes forfeitures as they occur. The fair value of stock options is estimated using a Black-Scholes valuation model on the date of grant. This method requires certain assumptions be used as inputs, such as the fair value of the underlying common stock, expected term of the option before exercise, expected volatility of the Company’s common stock, risk-free interest rate and expected dividend. Options granted have a maximum contractual term of ten years . The Company has limited historical stock option activity and therefore estimates the expected term of stock options granted using the simplified method, which represents the arithmetic average of the original contractual term of the stock option and its weighted-average vesting term. The expected volatility of stock options is estimated based on the average historical volatilities of common stock of comparable publicly traded companies and Company's own volatility. The comparable companies are chosen based on their size and stage in the life cycle. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price becomes available. The risk-free interest rates used are based on the U.S. Treasury yield in effect at the time of grant for zero-coupon U.S. treasury notes with maturities approximately equal to the expected term of the stock options. The Company has historically not declared or paid any dividends and does not currently expect to do so in the foreseeable future, and therefore has estimated the dividend yield to be zero . Commitments and Contingencies The Company recognizes a liability with regard to loss contingencies when it believes it is probable a liability has been incurred, and the amount can be reasonably estimated. If some amount within a range of loss appears at the time to be a better estimate than any other amount within the range, the Company accrues that amount. When no amount within the range is a better estimate than any other amount the Company accrues the minimum amount in the range. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the statement of operations in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. As of December 31, 2022 and 2021, the Company maintained valuation allowances against its deferred tax assets as the Company concluded it had not met the “more likely than not” to be realized threshold. Changes in the valuation allowance when they are recognized in the provision for income taxes may result in a change in the estimated annual effective tax rate. The Company records uncertain tax positions on the basis of a two-step process whereby (1) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability. As of December 31, 2022 , the Company had no accrued interest or penalties. Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented. Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock and common stock equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities include unvested common stock, unvested common stock upon early exercise of stock options and outstanding stock options under the Company’s equity incentive plan and have been excluded from the computation of diluted net loss per share as their inclusion would be antidilutive. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position. Related Parties Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. FASB ASC 850, Related Party Disclosures (FASB ASC 850) requires that transactions with related parties that would make a difference in decision making shall be disclosed so that users of the financial statements can evaluate their significance. Related party transactions typically occur within the context of the following relationships: • Affiliates of the entity; • Entities for which investments in their equity securities is typically accounted for under the equity method by the investing entity; • Trusts for the benefit of employees; • Principal owners of the entity and members of their immediate families; • Management of the entity and members of their immediate families; • Other parties that can significantly influence the management or operating policies of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The Company previously entered into a consulting agreement with van den Boom & Associates, LLC (van den Boom & Associates), a professional services firm contracted to provide resources to assist with day-to-day accounting functions. Services provided under the agreement with van den Boom & Associates are billed at hourly rates. On April 16, 2021, Ms. van den Boom, the managing partner of van den Boom & Associates, entered into an employment agreement with the Company whereby she became its Chief Financial Officer. Van den Boom & Associates is considered a related party under FASB ASC 850 from the point in which Ms. van den Boom became a Company officer. On October 28, 2022, Ms. van den Boom informed the Company of her intent to resign as the Chief Financial Officer, effective December 31, 2022. From the date of the employment agreement with Ms. van den Boom to December 31, 2021, van den Boom & Associates rendered contracted services totaling approximately $ 0.5 million. For the year ended December 31, 2022, van den Boom & Associated rendered contracted services totaling approximately $ 0.8 million. Recently Adopted Accounting Principles There were no accounting principles adopted during the year ended December 31, 2022, which had a material impact on the financial statements. Recently Issued Accounting Pronouncements There were no recently issued accounting pronouncements that would materially impact the Company's financial statements and related disclosures for the years ended December 31, 2022 and 2021 . Although there were several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 —Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 —Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 —Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, prepaid and other current assets, restricted cash, accounts payable, and accrued and other current liabilities, approximate fair value due to their short maturities. Assets measured at fair value on a recurring basis are as follows (in millions): Fair Value Measurements Using As of December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money Market Funds $ 240.7 $ 240.7 $ — $ — Fair Value Measurements Using As of December 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money Market Funds $ 291.7 $ 291.7 $ — $ — None of the Company’s non-financial assets or liabilities are recorded at fair value on a non-recurring basis.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consisted of the following (in thousands): December 31, 2022 2021 Equipment $ 1,119 $ 870 Computers and software 181 109 Leasehold improvements 156 141 Furniture and fixtures 82 76 1,538 1,196 Less: accumulated depreciation ( 461 ) ( 169 ) Total property and equipment, net $ 1,077 $ 1,027 The Company recognized $ 296,000 and $ 140,000 in depreciation expense for the years ended December 31, 2022 and 2021 , respectively.

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued and Other Current Liabilities	5. Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following (in thousands): December 31, 2022 2021 Accrued payroll and other employee benefits $ 2,854 $ 1,278 Accrued research and development 1,028 1,257 Accrued legal and professional fees 94 61 Accrued other general and administrative fees 440 219 Total accrued and other current liabilities $ 4,416 $ 2,815

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Stockholders' Equity	6. Stockholders' Equity and Convertible Preferred Stock Convertible Preferred Stock In January 2020 and February 2021, the Company issued, at each date, 2,848,486 shares of Series A convertible preferred stock at a price of $ 8.25 per share resulting in net proceeds of $ 23.3 million and $ 23.5 million, respectively, excluding issuance costs of $ 0.2 million and $ 5,000 , respectively. In March 2021, the Company issued 3,874,793 shares of Series B convertible preferred stock, at a price of $ 27.4337 per share, resulting in net proceeds of $ 106.1 million excluding issuance costs of $ 0.2 million. In September 2021, upon completion of the IPO, all of the Company’s shares of convertible preferred stock converted into 26,228,089 shares of common stock. Common Stock Common stock reserved for future issuance consisted of the following: December 31, 2022 2021 Common stock options granted and outstanding 5,890,869 3,771,516 Shares available for future issuance under the 2021 Incentive Award Plan 4,339,373 4,384,274 Shares available for future issuance under the 2021 Employee Stock 759,442 380,000 Total common stock reserved for future issuance 10,989,684 8,535,790 On October 3, 2022, the Company entered into the Sales Agreement with the Agent, under which the Company may, from time to time, sell shares of its common stock having an aggregate offering price of up to $ 150.0 million in “at the market” offerings through the Agent. Sales of the shares of common stock, if any, will be made at prevailing market prices at the time of sale, or as otherwise agreed with the Agent. The Agent will receive a commission from the Company of up to 3.0 % of the gross proceeds of any shares of common stock sold under the Sales Agreement. During the year ended December 31, 2022 , no shares of common stock were issued and sold pursuant to the Sales Agreement. Restricted Stock Since inception, the Company has issued 2,820,560 shares of restricted common stock at a price of $ 0.0001 per share to certain founders of the Company (Founders Stock). The Company maintains a repurchase right whereby the shares of Founders Stock are released from such repurchase right over a period of time of continued service by the recipient. Any shares subject to repurchase by the Company are not deemed to be outstanding, for accounting purposes, until those shares vest. Unvested outstanding Founders Stock as of December 31, 2022 and 2021 were 3,828 and 495,170 shares, respectively. The amount recorded as liabilities associated with shares issued with repurchase rights were immaterial as of December 31, 2022 and 2021. For the years ended December 31, 2022 and 2021, 491,342 and 496,008 shares vested in each period and the Company recognized $ 0.3 million of stock-based compensation expense for each period related to the awards. As of December 31, 2022 , the total unrecognized compensation expense related to unvested Founders Stock was immaterial.

Equity Incentive Plans and Stoc

Equity Incentive Plans and Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans and Stock-Based Compensation	7. Equity Incentive Plans and Stock-Based Compensation Equity Incentive Plans In September 2021, the Company's Board of Directors adopted, and its stockholders approved, the 2021 Incentive Award Plan (the 2021 Plan). Upon the adoption of the 2021 Plan, the Company restricted the grant of future equity awards under the 2020 Equity Incentive Plan (the 2020 Plan). The 2021 Plan provides for the grants of stock options and other equity-based awards to employees, non-employee directors, and consultants of the Company. A total of 5,570,000 shares of the Company’s common stock were initially reserved for issuance pursuant to the 2021 Plan. In addition to the 4,537,850 reserved shares, the number of shares reserved under the 2021 Plan also included 1,032,150 shares of the Company’s common stock that remained available for issuance under the 2020 Plan as of immediately prior to the effectiveness of the 2021 Plan. The 2021 Plan share reserve will be increased by the number of shares under the 2020 Plan that are repurchased, forfeited, expired or cancelled after the effective date of the 2021 Plan. In addition, the number of shares of the Company’s common stock available for issuance under the 2021 Plan will automatically increase on the first day of each fiscal year, beginning with the Company’s 2022 fiscal year, in an amount equal to the lesser of (1) 5 % of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year, or (2) such smaller amount as determined by the Company’s Board of Directors. On January 1, 2022, the number of shares reserved for issuance under the 2021 Plan was increased to 7,696,809 shares. As of December 31, 2022, 4,339,373 shares were authorized for issuance under the 2021 Plan, inclusive of shares added from cancellations under the 2020 Plan. A summary of the Company’s stock option activity for the year ended December 31, 2022 is as follows (in thousands, except share and per share data and years): Options Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2021 3,771,516 $ 9.18 9.3 $ 28,901 Granted 2,685,077 $ 7.71 Exercised ( 52,357 ) $ 4.90 Cancelled ( 513,367 ) $ 14.84 Outstanding at December 31, 2022 5,890,869 $ 7.91 8.8 $ 13,492 Exercisable at December 31, 2022 1,623,928 $ 6.80 8.3 $ 6,211 Vested and expected to vest as of December 31, 2022 5,890,869 $ 7.91 8.8 $ 13,492 Stock-Based Compensation Expense The Company estimated the fair value of stock options using the Black-Scholes valuation model. The Company accounts for forfeitures of options when they occur. Previously recognized compensation expense for an award is reversed in the period that the award is forfeited. The fair value of stock options was estimated using the following assumptions (excluding option modifications): Year Ended 2022 2021 Stock Options: Stock price $ 5.38 - 12.57 $ 0.99 - 24.15 Risk-free rate of interest 1.6 - 4.3 % 0.8 - 1.4 % Expected term (years) 5.1 - 6.1 5.0 - 6.1 Expected stock price volatility 82.3 - 90.4 % 88.2 - 99.9 % Dividend yield — — Stock-based compensation expense recognized for all equity awards has been reported in the statements of operations and comprehensive loss as follows (in thousands): Year Ended 2022 2021 Research and development expense $ 4,914 $ 1,341 General and administrative expense 5,674 1,546 Total $ 10,588 $ 2,887 The weighted-average grant date fair value of options granted for the years ended December 31, 2022 and 2021 was $ 5.62 and $ 7.74 per share, respectively. During the year ended December 31, 2022, 96,431 performance-based stock options vested upon the achievement of the performance condition. The Company recorded $ 1.2 million of compensation expense relating to the vested performance-based stock options for the year ended December 31, 2022. For the year ended December 31, 2022, forfeitures resulted in the reversal of compensation expense totaling $ 1.2 million, of which $ 1.0 million related to compensation expense for performance-based options, previously recorded in 2022. An aggregate of 93,388 performance-based stock options were forfeited as the related performance conditions were not achieved. Forfeitures resulting in the reversal of compensation expense were immaterial for the year ended December 31, 2021. As of December 31, 2022, the unrecognized compensation cost related to options was $ 23.3 million, and is expected to be recognized as expense over a weighted-average period of approximately 2.5 years. Option Modifications During the year ended December 31, 2022, two executive officers' options were modified. The changes resulted in the recognition of additional stock-based compensation expense of $ 2.0 million recorded within general and administrative expenses, including $ 1.2 million related to accelerated vesting pursuant to the executive’s original employment agreement and incremental stock-based compensation expense of $ 0.8 resulting from modified option terms. Employee Stock Purchase Plan In September 2021, the Company’s Board of Directors approved and adopted the 2021 Employee Stock Purchase Plan (ESPP). The ESPP was subsequently approved by the stockholders on September 7, 2021. The ESPP became effective on the business day immediately prior to the effective date of the Company’s first registration statement. A total of 380,000 shares of the Company’s common stock were initially reserved for issuance pursuant to the ESPP. In addition, the number of shares of the Company’s common stock available for issuance under the ESPP will automatically increase on the first day of each fiscal year, beginning with the Company’s 2022 fiscal year, in an amount equal to the lesser of (1) 1 % of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year, or (2) such smaller amount as determined by the Company’s Board of Directors. On January 1, 2022, the number of shares reserved for issuance under the 2021 Employee Stock Purchase Plan was increased to 805,361 shares. The ESPP permits eligible employees who elect to participate in an offering under the ESPP to have up to 15 % of their eligible earnings withheld, subject to certain limitations, to purchase shares of common stock pursuant to the ESPP. The price of common stock purchased under the ESPP is equal to 85 % of the lower of the fair market value of the common stock at the commencement date of each offering period or the relevant date of purchase. Each offering period is twenty-four months, with new offering periods commencing every six months on or about the dates of March 15 and September 15 of each year. During the years ended December 31, 2022 and 2021, the Company issued 45,919 and 0 shares, respectively, of common stock in connection with the ESPP. As of December 31, 2022, there were 759,442 shares available for future purchase under the ESPP. The Company estimated the fair value of shares purchased under the ESPP, using the Black-Scholes valuation model. The fair value of shares purchased under the ESPP was estimated using the following assumptions: Year Ended 2022 2021 Stock Options: Stock price $ 7.74 - 11.03 $ 16.00 Risk-free rate of interest 0.9 - 4.0 % 0.0 - 0.3 % Expected term (years) 0.5 - 2.0 0.5 - 2.0 Expected stock price volatility 74.7 - 89.8 % 69.7 - 92.4 % Dividend yield — — During the years ended December 31, 2022 and 2021, the Company recognized compensation expense of $ 0.4 million and $ 0.1 million, respectively, related to the ESPP. As of December 31, 2022, the remaining unrecognized compensation expense related to the ESPP was $ 0.5 million, and is expected to be recognized as expense over a weighted-average period of approximately 1.1 years. Liability for Early Exercise of Stock Options Certain individuals were granted the ability to early exercise their stock options. The shares of common stock issued from the early exercise of unvested stock options are restricted and continue to vest in accordance with the original vesting schedule. The Company has the option to repurchase any unvested shares at the original purchase price upon any voluntary or involuntary termination. The shares purchased by the employees and non-employees pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be outstanding until those shares vest. The cash received in exchange for exercised and unvested shares related to stock options granted is recorded as a liability for the early exercise of stock options on the accompanying balance sheets and will be transferred into common stock and additional paid-in capital as the shares vest. As of December 31, 2022 and 2021, 277,081 and 599,878 unvested shares issued under early exercise provisions were subject to repurchase by the Company, respectively. As of December 31, 2022 and 2021, the Company recorded $ 0.2 million and $ 0.4 million, respectively, associated with early exercised stock options in other long-term liabilities.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	8. Net Loss Per Share The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts): Year Ended 2022 2021 Numerator: Net loss $ ( 55,325 ) $ ( 26,294 ) Denominator: Weighted-average common shares outstanding 42,627,825 15,206,879 Less: weighted-average unvested restricted ( 269,174 ) ( 732,418 ) Less: weighted-average unvested common stock ( 474,746 ) ( 693,915 ) Weighted-average shares used to compute net loss per 41,883,904 13,780,546 Net loss per share, basic and diluted $ ( 1.32 ) $ ( 1.91 ) The following table sets forth the outstanding potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because their inclusion would be anti-dilutive. As of December 31, 2022 2021 Unvested restricted common stock subject to repurchase 3,828 495,170 Unvested common stock upon early exercise of stock 277,081 599,878 Options to purchase common stock 5,890,869 3,771,516 6,171,778 4,866,564

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes The following is a reconciliation between the provision for income taxes and income taxes computed using the U.S. federal statutory corporate tax rate for the years ended December 31, 2022 and 2021 is as follows (in thousands): Year Ended 2022 2021 Expected tax benefit at statutory rate $ ( 11,618 ) $ ( 5,392 ) State income tax, net of federal benefit ( 58 ) ( 1,661 ) Officers compensation 598 28 Permanent items and other 707 86 Research credits ( 2,093 ) ( 680 ) Change in valuation allowance 12,466 7,620 Provision for income taxes $ 2 $ 1 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2022 and 2021 are as follows (in thousands): As of December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 11,596 $ 9,297 Capitalized research and development 7,097 — Tax credits 2,958 874 Stock compensation 1,016 239 Other, net 1,090 470 Total deferred tax assets 23,757 10,880 Valuation allowance ( 23,085 ) ( 10,618 ) Deferred tax assets, net of valuation allowance 672 262 Deferred tax liabilities: Depreciation ( 151 ) ( 37 ) Right of use assets ( 521 ) ( 225 ) Total deferred tax liabilities ( 672 ) ( 262 ) Net deferred tax assets / (liabilities) $ — $ — The Company has established a valuation allowance against its net deferred tax assets due to the uncertainty surrounding the realization of such assets. The Company periodically evaluates the recoverability of the deferred tax assets. At such time as it is determined that it is more likely than not that deferred assets are realizable, the valuation allowance will be reduced. The Company has recorded a full valuation allowance of $ 23.1 million as of December 31, 2022 as management cannot conclude that it is more likely than not that certain deferred tax assets will be realized primarily due to the history of losses from inception. The Company increased its valuation allowance by approximately $ 12.5 million during the year ended December 31, 2022. At December 31, 2022 , the Company had federal and state tax loss carry forwards of approximately $ 46.0 million and $ 35.9 million, respectively. As a result of the Tax Cuts and Jobs Act of 2017, for U.S. income tax purposes, net operating losses generated after December 31, 2017 can be carried forward indefinitely, but are limited to 80 % utilization against future taxable income each year. Of the amount of federal and state net operating loss carryforwards, $ 46.0 million and $ 1.1 million, respectively, can be carried forward indefinitely. Unless previously utilized, certain state net operating losses will begin to expire in 2038. In accordance with the 2017 Tax Cuts and Jobs Act, research and experimental (R&E) expenses under Internal Revenue Code (IRC) Section 174 are required to be capitalized beginning in 2022. R&E expenses are required to be amortized over a period of five years for domestic expenses and 15 years for foreign expenses. The Company has capitalized R&E expenses in its current tax provision pursuant to the IRC Section 174. At December 31, 2022 , the Company has federal and California research and development tax credits of $ 2.7 million and $ 1.3 million, respectively. The federal research and development tax credits begin to expire in 2038 unless previously utilized. The California research and development tax credits carry forward indefinitely. Pursuant to the IRC Sections 382 and 383, annual use of the Company’s NOL and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period. The Company has not completed an ownership change analysis pursuant to IRC Section 382. If ownership changes have occurred or occurs in the future, the amount of remaining tax attribute carryforwards available to offset taxable income and income tax expense in future years may be restricted or eliminated. If eliminated, the related asset would be removed from deferred tax assets with a corresponding reduction in the valuation allowance. Uncertain tax positions are evaluated based upon the facts and circumstances that exist at each reporting period. Subsequent changes in judgement based upon new information may lead to changes in recognition, derecognition, and measurement. Adjustment may result, for example, upon resolution of an issue with the taxing authorities or expiration of a statute of limitations barring an assessment for an issue. The Company recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination by tax authorities. The following table summarizes the changes to the Company’s gross unrecognized tax benefits for the years ended December 31, 2022 and 2021, respectively (in thousands): Year Ended 2022 2021 Beginning balance at January 1 $ 1,142 $ 91 Additions related to current year positions 366 312 Additions related to prior year positions 66 739 Ending balance at December 31 $ 1,574 $ 1,142 Due to the existence of the valuation allowance, future recognition of previously unrecognized tax benefits will not impact the Company’s effective tax rate. The Company is subject to taxation in the United States and various state jurisdictions. All of the Company’s tax years from inception are subject to examination by federal and state tax authorities. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company had no accrued interest or penalties related to income tax matters in the Company’s balance sheet as of December 31, 2022 and has not recognized interest or penalties in the Company’s statements of operations and comprehensive loss for the years ended December 31, 2022 and 2021. Further, the Company is not currently under examination by any federal, state or local tax authority. The CARES Act provides sweeping tax changes in response to the COVID-19 pandemic. Some of the more significant provisions are removal of certain limitations on utilization of net operating losses, increasing the loss carryback period for certain losses to five years, and increasing the ability to deduct interest expense, as well as amending certain provisions of the previously enacted Tax Cuts and Jobs Act. As of December 31, 2022, the Company has not recorded any material adjustments to its income tax provision related to the provisions within the CARES Act. The Company will continue to analyze the impact that the CARES Act will have, if any, on its financial position, results of operations or cash flows.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	10. Leases The Company has operating leases for its office and laboratory space, including its corporate headquarters. In August 2020, th e Company entered into a lease agreement for approximately 4,734 square feet of office and lab space at 2656 State Street in Carlsbad, California, for the Company’s headquarters (the Original Lease). The Original Lease commenced in May 2021, and had an original term of 60 months, with an option to extend for two additional 36 month periods. The lease agreement required the Company to provide a letter of credit for $ 0.2 million that is collateralized with cash that is recorded as restricted cash in the accompanying balance sheet. Additionally, in connection with the Original Lease, the Company paid a security deposit of approximately $ 21,000 . In March 2022, the Company entered into an agreement (the Expansion Lease) for an additional office and laboratory space. The Expansion Lease is expected to commence in the second half of 2023 and projected lease payments over the life of the lease are expected to be $ 5.5 million with a lease expiration of 120 months after the commencement of the Expansion Lease. The Company has an option to renew the Expansion Lease and its existing operating lease, which has the same lessor and has been amended to have the same lease term as the Expansion Lease for two additional thirty-six month periods. In March 2022, the Original Lease was amended to extend the lease term to 120 months from the commencement of the Expansion Lease. As the Company was not reasonably certain to exercise either the amended the Original Lease or the Expansion lease options at lease commencement, neither option was recognized as part of the associated operating lease ROU asset or liability. Cash paid for amounts included in the measurement of lease liabilities was $ 0.3 million and $ 0.2 million for the years ended December 31, 2022 and 2021, respectively. The components of lease expense include operating, finance, short-term, and variable lease costs. Amortization is recorded in research and development expenses and interest expense is recorded in other expenses in the statements of operations and comprehensive loss. Components of lease cost for the years ended December 31, 2022 and 2021, respectively, follows (in thousands): Year Ended 2022 2021 Operating lease cost $ 322 $ 331 Finance lease cost Amortization of ROU assets — 5 Short-term lease cost 81 73 Variable lease cost 56 16 Total Lease Cost $ 459 $ 420 Maturities of lease liabilities, weighted-average remaining term and weighted-average discount rate were as follows (in thousands): As of December 31, Year ending December 31, 2023 $ 300 2024 309 2025 318 2026 328 Thereafter 2,381 Total minimum lease payments (1) 3,636 Less: amount representing interest ( 1,014 ) Present value of lease liabilities 2,622 Less: current portion of lease liabilities ( 140 ) Lease liabilities, noncurrent $ 2,482 (1) Excludes $ 5.5 million of legally binding minimum lease payments for leases not yet commenced December 31, 2022 2021 Weighted-average remaining lease term (years) - operating leases 10.5 4.6 Weighted-average incremental borrowing rate - operating leases 6.50 % 7.50 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Other Funding Commitments As of December 31, 2022, the Company had ongoing clinical and pre-clinical studies for its various pipeline programs. The Company enters into contracts in the normal course of business with contract research organizations in preparation for clinical trials, professional consultants for expert advice and other vendors for clinical supply manufacturing or other services. These contracts are generally cancellable, with notice, at the Company's option and do not have significant cancellation penalties. Guarantees The Company enters into certain agreements with other parties in the ordinary course of business that contain indemnification provisions. These typically include agreements with directors and officers, business partners, contractors, landlords, contract research organizations and clinical sites. Under these provisions, the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party under the terms of the contract, including as a result of the Company’s activities. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is unlimited. However, to date the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. As a result, the estimated fair value of these obligations is minimal. Litigation The Company, from time to time, may be party to litigation arising in the ordinary course of business. The Company was not subject to any material legal proceedings as of December 31, 2022, and no material legal proceedings are currently pending or threatened. I f the potential loss from any claim, asserted or unasserted, or legal proceeding is considered probable and the amount is reasonably estimable, the Company will accrue a liability for the estimated loss.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2022
Compensation Related Costs [Abstract]
Employee Benefits	12. Employee Benefits The Company offers a 401(k) plan (401(k) Plan) for all employees who have met certain eligibility requirements. Under the 401(k) Plan, employees may elect to contribute a portion of their eligible compensation, subject to certain limitations. The Company did not make any matching employer contributions to the 401(k) Plan for the years ended December 31, 2022 and 2021 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization	Organization Tyra Biosciences, Inc. (the Company) was incorporated in the state of Delaware on August 2, 2018. The Company is a clinical-stage biotechnology company focused on developing next-generation precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology. The Company’s in-house precision medicine platform, SNÅP, enables rapid and precise drug design through iterative molecular SNÅPshots that help predict genetic alterations most likely to cause acquired resistance to existing therapies. The Company’s initial focus is on applying accelerated small molecule drug discovery engine to develop therapies in targeted oncology and genetically defined conditions. Since its inception, the Company has devoted substantially all of its resources to research and development activities, business planning, establishing and maintaining its intellectual property portfolio, hiring personnel, raising capital, and providing general and administrative support for these operations. It has incurred losses and negative cash flows from operations since commencement of its operations. The Company had an accumulated deficit of $ 95.7 million and cash and cash equivalents of $ 251.2 million as of December 31, 2022. From its inception through December 31, 2022, the Company has financed its operations primarily through the sale of common stock and private placements of its convertible preferred stock. As the Company continues its expansion, it may seek additional financing and/or strategic investments, however, there can be no assurance that any additional financing or strategic investments will be available to the Company on acceptable terms, if at all. If events or circumstances occur such that the Company does not obtain additional funding, it will most likely be required to reduce its plans and/or certain discretionary spending, which could have a material adverse effect on the Company’s ability to achieve its intended business objectives. Management believes that it has sufficient working capital on hand to fund operations through at least the next twelve months from the date of issuance of these financial statements. On September 17, 2021, the Company completed its initial public offering (the IPO) and issued 12,420,000 shares of common stock for net proceeds of approximately $ 181.2 million.
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (ASC) and Accounting Standards Updates (ASU) promulgated by the Financial Accounting Standards Board (FASB).
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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Accounting estimates and management judgments reflected in the financial statements include: normal recurring accruals, including the accrual of research and development expenses and stock-based compensation. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments which potentially subject the Company to significant concentration of credit risk consist of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the nature of the instruments held in the depository institutions.
Segment Reporting	Segment Reporting The Company operates and manages its business as one operating segment. The Company’s Chief Executive Officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for allocating resources and evaluating financial performance. All long-lived assets are maintained in the United States.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The accounting guidance defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The carrying amounts of all cash and cash equivalents, prepaid and other current assets, restricted cash, accounts payable, and accrued and other current liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Cash equivalents primarily represent funds invested in readily available money market accounts. As of December 31, 2022 , the Company had cash and cash equivalents balances deposited at major financial institutions.
Restricted Cash	Restricted Cash Restricted cash is comprised of cash that is restricted as to withdrawal or use under the terms of certain contractual agreements. Restricted cash as of December 31, 2022 and 2021 was $ 1.0 million and $ 0.2 million, respectively, which consisted of collateral for letters of credit related to the Company’s operating leases which are considered a non-current asset on the balance sheets.
Property and Equipment	Property and Equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets (generally three to seven years , or the remaining term of the lease).
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company accounts for the impairment of long-lived assets by reviewing these assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted-cash-flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. The Company did no t recognize impairment losses for the years December 31, 2022 and 2021 .
Accrued Research and Development Expense	Accrued Research and Development Expense Research and development expenses consist of external and internal costs associated with the Company’s research and development activities, including its discovery and research efforts and the preclinical and clinical development of its product candidates. Research and development costs are expensed in the period incurred. The Company has entered into various research and development contracts with clinical research organizations, clinical manufacturing organizations, clinical sites and other vendors and consultants. Payments for these activities are based on the terms of the individual agreements, which may differ from the pattern of costs incurred, and payments made in advance of or after performance are reflected in the accompanying balance sheets as prepaid expenses or accrued liabilities, respectively. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. The Company holds discussions with applicable personnel and outside service providers as to the progress of clinical trials, or the services completed. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Nonrefundable advance payments for goods and services, including fees for process development, are deferred and recognized as expense in the period that the related goods are consumed, or services are performed.
Patent Costs	Patent Costs The Company expenses all costs as incurred in connection with patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) and such costs are included in general and administrative expenses in the statements of operations and comprehensive loss.
Leases	Leases The Company has operating leases for office and lab space. At the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, the Company records the associated lease liability and corresponding right-of-use asset (ROU) upon commencement of the lease using the implicit rate or a discount rate based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. The Company additionally evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. Operating lease assets represent a right to use an underlying asset for the lease term and operating lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease liabilities with a term greater than one year and their corresponding ROUs are recognized on the balance sheet at the commencement date of the lease based on the present value of lease payments over the expected lease term. The Company excludes short-term leases, if any, having initial terms of 12 months or less at lease commencement as an accounting policy election. Certain adjustments to the ROU may be required for items such as payments made at or before the commencement date, initial direct costs paid or lease incentives received. As the Company’s leases do not typically provide an implicit rate, the Company utilizes the appropriate incremental borrowing rate (IBR), determined as the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment. Lease cost is recognized on a straight-line basis over the lease term and variable lease payments are recognized as operating expenses in the period in which the obligation for those payments is incurred. Variable lease payments primarily include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor in proportion to the space leased by the Company. In measuring the ROU assets and lease liabilities, the Company has elected to combine lease and non-lease components. Operating ROU assets are reflected in ROU assets in the accompanying balance sheets. Operating lease liabilities are reflected in leases liabilities, current and noncurrent in the accompanying balance sheets.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense represents the cost of the grant date fair value of employee, officer, director and non-employee equity awards, estimated in accordance with the applicable accounting guidance, and, for those awards subject only to service conditions, recognized on a straight-line basis over the vesting period. The vesting period generally approximates the expected service period of the awards. The Company recognizes stock-based compensation expense for awards with performance conditions when it is probable that the condition will be met, and the award will vest. If the achievement of performance conditions is no longer deemed probable, previously recognized compensation cost is reversed. For awards with performance and service conditions, the Company begins recording share-based compensation when achieving the performance criteria is probable and recognizes the costs using the accelerated attribution method. The Company recognizes forfeitures as they occur. The fair value of stock options is estimated using a Black-Scholes valuation model on the date of grant. This method requires certain assumptions be used as inputs, such as the fair value of the underlying common stock, expected term of the option before exercise, expected volatility of the Company’s common stock, risk-free interest rate and expected dividend. Options granted have a maximum contractual term of ten years . The Company has limited historical stock option activity and therefore estimates the expected term of stock options granted using the simplified method, which represents the arithmetic average of the original contractual term of the stock option and its weighted-average vesting term. The expected volatility of stock options is estimated based on the average historical volatilities of common stock of comparable publicly traded companies and Company's own volatility. The comparable companies are chosen based on their size and stage in the life cycle. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price becomes available. The risk-free interest rates used are based on the U.S. Treasury yield in effect at the time of grant for zero-coupon U.S. treasury notes with maturities approximately equal to the expected term of the stock options. The Company has historically not declared or paid any dividends and does not currently expect to do so in the foreseeable future, and therefore has estimated the dividend yield to be zero .
Commitments and Contingencies	Commitments and Contingencies The Company recognizes a liability with regard to loss contingencies when it believes it is probable a liability has been incurred, and the amount can be reasonably estimated. If some amount within a range of loss appears at the time to be a better estimate than any other amount within the range, the Company accrues that amount. When no amount within the range is a better estimate than any other amount the Company accrues the minimum amount in the range.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the statement of operations in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. As of December 31, 2022 and 2021, the Company maintained valuation allowances against its deferred tax assets as the Company concluded it had not met the “more likely than not” to be realized threshold. Changes in the valuation allowance when they are recognized in the provision for income taxes may result in a change in the estimated annual effective tax rate. The Company records uncertain tax positions on the basis of a two-step process whereby (1) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability. As of December 31, 2022 , the Company had no accrued interest or penalties.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock and common stock equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities include unvested common stock, unvested common stock upon early exercise of stock options and outstanding stock options under the Company’s equity incentive plan and have been excluded from the computation of diluted net loss per share as their inclusion would be antidilutive. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position.
Related Parties	Related Parties Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. FASB ASC 850, Related Party Disclosures (FASB ASC 850) requires that transactions with related parties that would make a difference in decision making shall be disclosed so that users of the financial statements can evaluate their significance. Related party transactions typically occur within the context of the following relationships: • Affiliates of the entity; • Entities for which investments in their equity securities is typically accounted for under the equity method by the investing entity; • Trusts for the benefit of employees; • Principal owners of the entity and members of their immediate families; • Management of the entity and members of their immediate families; • Other parties that can significantly influence the management or operating policies of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The Company previously entered into a consulting agreement with van den Boom & Associates, LLC (van den Boom & Associates), a professional services firm contracted to provide resources to assist with day-to-day accounting functions. Services provided under the agreement with van den Boom & Associates are billed at hourly rates. On April 16, 2021, Ms. van den Boom, the managing partner of van den Boom & Associates, entered into an employment agreement with the Company whereby she became its Chief Financial Officer. Van den Boom & Associates is considered a related party under FASB ASC 850 from the point in which Ms. van den Boom became a Company officer. On October 28, 2022, Ms. van den Boom informed the Company of her intent to resign as the Chief Financial Officer, effective December 31, 2022. From the date of the employment agreement with Ms. van den Boom to December 31, 2021, van den Boom & Associates rendered contracted services totaling approximately $ 0.5 million. For the year ended December 31, 2022, van den Boom & Associated rendered contracted services totaling approximately $ 0.8 million.
Recently Adopted and Issued Accounting Principles	Recently Adopted Accounting Principles There were no accounting principles adopted during the year ended December 31, 2022, which had a material impact on the financial statements. Recently Issued Accounting Pronouncements There were no recently issued accounting pronouncements that would materially impact the Company's financial statements and related disclosures for the years ended December 31, 2022 and 2021 . Although there were several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured	Assets measured at fair value on a recurring basis are as follows (in millions): Fair Value Measurements Using As of December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money Market Funds $ 240.7 $ 240.7 $ — $ — Fair Value Measurements Using As of December 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Cash equivalents: Money Market Funds $ 291.7 $ 291.7 $ — $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following (in thousands): December 31, 2022 2021 Equipment $ 1,119 $ 870 Computers and software 181 109 Leasehold improvements 156 141 Furniture and fixtures 82 76 1,538 1,196 Less: accumulated depreciation ( 461 ) ( 169 ) Total property and equipment, net $ 1,077 $ 1,027

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following (in thousands): December 31, 2022 2021 Accrued payroll and other employee benefits $ 2,854 $ 1,278 Accrued research and development 1,028 1,257 Accrued legal and professional fees 94 61 Accrued other general and administrative fees 440 219 Total accrued and other current liabilities $ 4,416 $ 2,815

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consisted of the following: December 31, 2022 2021 Common stock options granted and outstanding 5,890,869 3,771,516 Shares available for future issuance under the 2021 Incentive Award Plan 4,339,373 4,384,274 Shares available for future issuance under the 2021 Employee Stock 759,442 380,000 Total common stock reserved for future issuance 10,989,684 8,535,790

Equity Incentive Plans and St_2

Equity Incentive Plans and Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Stock Options Abstract
Schedule of Stock Options Activity	A summary of the Company’s stock option activity for the year ended December 31, 2022 is as follows (in thousands, except share and per share data and years): Options Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2021 3,771,516 $ 9.18 9.3 $ 28,901 Granted 2,685,077 $ 7.71 Exercised ( 52,357 ) $ 4.90 Cancelled ( 513,367 ) $ 14.84 Outstanding at December 31, 2022 5,890,869 $ 7.91 8.8 $ 13,492 Exercisable at December 31, 2022 1,623,928 $ 6.80 8.3 $ 6,211 Vested and expected to vest as of December 31, 2022 5,890,869 $ 7.91 8.8 $ 13,492
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of stock options was estimated using the following assumptions (excluding option modifications): Year Ended 2022 2021 Stock Options: Stock price $ 5.38 - 12.57 $ 0.99 - 24.15 Risk-free rate of interest 1.6 - 4.3 % 0.8 - 1.4 % Expected term (years) 5.1 - 6.1 5.0 - 6.1 Expected stock price volatility 82.3 - 90.4 % 88.2 - 99.9 % Dividend yield — —
Schedule of Stock-based Compensation Expense	Stock-based compensation expense recognized for all equity awards has been reported in the statements of operations and comprehensive loss as follows (in thousands): Year Ended 2022 2021 Research and development expense $ 4,914 $ 1,341 General and administrative expense 5,674 1,546 Total $ 10,588 $ 2,887
Schedule of Share-Based Compensation, Employee Stock Purchase Plan	The fair value of shares purchased under the ESPP was estimated using the following assumptions: Year Ended 2022 2021 Stock Options: Stock price $ 7.74 - 11.03 $ 16.00 Risk-free rate of interest 0.9 - 4.0 % 0.0 - 0.3 % Expected term (years) 0.5 - 2.0 0.5 - 2.0 Expected stock price volatility 74.7 - 89.8 % 69.7 - 92.4 % Dividend yield — —
Schedule of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consisted of the following: December 31, 2022 2021 Common stock options granted and outstanding 5,890,869 3,771,516 Shares available for future issuance under the 2021 Incentive Award Plan 4,339,373 4,384,274 Shares available for future issuance under the 2021 Employee Stock 759,442 380,000 Total common stock reserved for future issuance 10,989,684 8,535,790

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Share	The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts): Year Ended 2022 2021 Numerator: Net loss $ ( 55,325 ) $ ( 26,294 ) Denominator: Weighted-average common shares outstanding 42,627,825 15,206,879 Less: weighted-average unvested restricted ( 269,174 ) ( 732,418 ) Less: weighted-average unvested common stock ( 474,746 ) ( 693,915 ) Weighted-average shares used to compute net loss per 41,883,904 13,780,546 Net loss per share, basic and diluted $ ( 1.32 ) $ ( 1.91 )
Potentially Dilutive Securities Including All Outstanding Stock Options were excluded in Calculation of Diluted Shares Outstanding	The following table sets forth the outstanding potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because their inclusion would be anti-dilutive. As of December 31, 2022 2021 Unvested restricted common stock subject to repurchase 3,828 495,170 Unvested common stock upon early exercise of stock 277,081 599,878 Options to purchase common stock 5,890,869 3,771,516 6,171,778 4,866,564

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The following is a reconciliation between the provision for income taxes and income taxes computed using the U.S. federal statutory corporate tax rate for the years ended December 31, 2022 and 2021 is as follows (in thousands): Year Ended 2022 2021 Expected tax benefit at statutory rate $ ( 11,618 ) $ ( 5,392 ) State income tax, net of federal benefit ( 58 ) ( 1,661 ) Officers compensation 598 28 Permanent items and other 707 86 Research credits ( 2,093 ) ( 680 ) Change in valuation allowance 12,466 7,620 Provision for income taxes $ 2 $ 1
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2022 and 2021 are as follows (in thousands): As of December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 11,596 $ 9,297 Capitalized research and development 7,097 — Tax credits 2,958 874 Stock compensation 1,016 239 Other, net 1,090 470 Total deferred tax assets 23,757 10,880 Valuation allowance ( 23,085 ) ( 10,618 ) Deferred tax assets, net of valuation allowance 672 262 Deferred tax liabilities: Depreciation ( 151 ) ( 37 ) Right of use assets ( 521 ) ( 225 ) Total deferred tax liabilities ( 672 ) ( 262 ) Net deferred tax assets / (liabilities) $ — $ —
Schedule of Unrecognized Tax Benefits Roll Forward	The following table summarizes the changes to the Company’s gross unrecognized tax benefits for the years ended December 31, 2022 and 2021, respectively (in thousands): Year Ended 2022 2021 Beginning balance at January 1 $ 1,142 $ 91 Additions related to current year positions 366 312 Additions related to prior year positions 66 739 Ending balance at December 31 $ 1,574 $ 1,142

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Components of Lease Cost	Components of lease cost for the years ended December 31, 2022 and 2021, respectively, follows (in thousands): Year Ended 2022 2021 Operating lease cost $ 322 $ 331 Finance lease cost Amortization of ROU assets — 5 Short-term lease cost 81 73 Variable lease cost 56 16 Total Lease Cost $ 459 $ 420
Schedule of Lease Liabilities with Weighted Average Remaining Term and Weighted Average Discount Rate	Maturities of lease liabilities, weighted-average remaining term and weighted-average discount rate were as follows (in thousands): As of December 31, Year ending December 31, 2023 $ 300 2024 309 2025 318 2026 328 Thereafter 2,381 Total minimum lease payments (1) 3,636 Less: amount representing interest ( 1,014 ) Present value of lease liabilities 2,622 Less: current portion of lease liabilities ( 140 ) Lease liabilities, noncurrent $ 2,482 (1) Excludes $ 5.5 million of legally binding minimum lease payments for leases not yet commenced December 31, 2022 2021 Weighted-average remaining lease term (years) - operating leases 10.5 4.6 Weighted-average incremental borrowing rate - operating leases 6.50 % 7.50 %

Organization and Basis of Pre_2

Organization and Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 17, 2021	Dec. 31, 2022	Dec. 31, 2021
Common stock, shares issued		42,634,459	42,536,183
Proceeds from initial public offering, net of issuance costs		$ 0	$ 181,220
Accumulated deficit		(95,696)	(40,371)
Cash and cash equivalents		$ 251,213	$ 302,182
IPO [Member]
Common stock, shares issued	12,420,000
Proceeds from initial public offering, net of issuance costs	$ 181,200

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Segment	Dec. 31, 2021 USD ($)
Property Plant And Equipment [Line Items]
Number of Operating Segments | Segment	1
Dividend Yield	$ 0
Dividend Payment Description	The Company has historically not declared or paid any dividends and does not currently expect to do so in the foreseeable future, and therefore has estimated the dividend yield to be zero.
Restricted Cash	$ 1,000,000	$ 200,000
Penalties and Interest Accrued	0
Van Den Boom & Associates, LLC
Property Plant And Equipment [Line Items]
Contracted services incurred	800,000	500,000
Property, Plant and Equipment, Other Types
Property Plant And Equipment [Line Items]
Impairement loss	$ 0	$ 0
Minimum
Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum
Property Plant And Equipment [Line Items]
Options Granted Contractual Term	10 years
Property, Plant and Equipment, Useful Life	7 years

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 251,213	$ 302,182

Fair Value Measurements - Asset

Fair Value Measurements - Assets measured at fair value (Details) - Money Market Funds [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets On Recurring Basis Line Items
Assets, Fair Value Adjustment	$ 240.7	$ 291.7
Fair Value, Inputs, Level 1 [Member]
Fair Value Assets On Recurring Basis Line Items
Assets, Fair Value Adjustment	240.7	291.7
Fair Value, Inputs, Level 2 [Member]
Fair Value Assets On Recurring Basis Line Items
Assets, Fair Value Adjustment	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value Assets On Recurring Basis Line Items
Assets, Fair Value Adjustment	$ 0	$ 0

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 1,538	$ 1,196
Less: accumulated depreciation	(461)	(169)
Total property and equipment, net	1,077	1,027
Equipment
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	1,119	870
Computers and Software
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	181	109
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	156	141
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 82	$ 76

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 296,000	$ 140,000

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities - Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued payroll and other employee benefits	$ 2,854	$ 1,278
Accrued research and development	1,028	1,257
Accrued legal and professional fees	94	61
Accrued other general and administrative fees	440	219
Total accrued and other current liabilities	$ 4,416	$ 2,815

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Reserved Shares of Common Stock (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock options granted and outstanding	5,890,869	3,771,516
Total common stock reserved for future issuance	10,989,684	8,535,790
Twenty Twenty One Equity Incentive Plan [Member]
Class of Stock [Line Items]
Total common stock reserved for future issuance	4,339,373	4,384,274
Twenty Twenty One Employee Stock Purchase Plan [Member]
Class of Stock [Line Items]
Shares available for future issuance	759,442	380,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($)		1 Months Ended			12 Months Ended
	Oct. 03, 2022	Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Sep. 17, 2021
Class of Stock [Line Items]
Common stock, shares issued					42,634,459	42,536,183
Common Stock, Capital Shares Reserved for Future Issuance					10,989,684	8,535,790
Common Stock, Par or Stated Value Per Share					$ 0.0001	$ 0.0001
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					2 years 6 months
ATM Sales Agreement
Class of Stock [Line Items]
Common stock, shares issued					0
Commission for agent on sales	3%
Aggregate offering price	$ 150,000,000
Restricted Stock [Member]
Class of Stock [Line Items]
Common stock, shares issued					2,820,560
Common Stock, Par or Stated Value Per Share					$ 0.0001
Unvested Founders Stock Outstanding					3,828	495,170
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares					491,342	496,008
Share-Based Payment Arrangement, Expense, Tax Benefit					$ 300,000	$ 300,000
Two Thousands And Twenty One Incentive Award Plan [Member]
Class of Stock [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance					5,570,000
IPO [Member]
Class of Stock [Line Items]
Common stock, shares issued							12,420,000
Convertible Preferred Stock, Shares Issued upon Conversion							26,228,089
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			2,848,486
Sale of Stock, Price Per Share			$ 8.25
Proceeds from Issuance of Convertible Preferred Stock			$ 23,500,000	$ 23,300,000	$ 0	23,495,000
Stock Issuance Cost Incurred Net of Issuance Cost			$ 5,000	$ 200,000
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		3,874,793
Sale of Stock, Price Per Share		$ 27.4337
Proceeds from Issuance of Convertible Preferred Stock		$ 106,100,000			$ 0	$ 106,128,000
Stock Issuance Cost Incurred Net of Issuance Cost		$ 200,000

Equity Incentive Plans and St_3

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Sep. 17, 2021
Class Of Stock [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001
Stock compensation expense related to modification of options		$ 800
General and Administrative Expense		15,919	$ 5,652
Incremental stock based compensation recorded due to terminations		$ 2,000
Common stock, shares issued		42,634,459	42,536,183
Accelerate expense or compensation cost expense recognized due to termination		$ 1,200
Unrecognized compensation cost related to options		23,300
Forfeitures resulted in the reversal of compensation expense		$ 1,200
Term of recognized expense		2 years 6 months
Total common stock reserved for future issuance		10,989,684	8,535,790
Liability of early exercise options, shares		277,081	599,878
Liability of early exercise options		$ 200	$ 400
2020 Plan
Class Of Stock [Line Items]
Total common stock available for future issuance		1,032,150
2021 Plan
Class Of Stock [Line Items]
Common stock reserve for future issuance		4,537,850
Increased decrease in stock reserve for future issuance	7,696,809
Shares reserved for future issuance		4,339,373
Total common stock reserved for future issuance		5,570,000
Increase in common stock		5%
Restricted Stock [Member]
Class Of Stock [Line Items]
Common stock, par value		$ 0.0001
Share-Based Payment Arrangement, Expense, Tax Benefit		$ 300	$ 300
Common stock, shares issued		2,820,560
Unvested Founders Stock Outstanding		3,828	495,170
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares		491,342	496,008
Stock Options [Member]
Class Of Stock [Line Items]
Weighted average grant fair value		$ 5.62	$ 7.74
Performance Shares [Member]
Class Of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares		96,431
Forfeitures resulted in the reversal of compensation expense		$ 1,000
Aggregate stock option were forfeited		93,388
Performance-based stock options, Expense recognized		$ 1,200
IPO [Member]
Class Of Stock [Line Items]
Common stock, shares issued				12,420,000
Employee Stock Purchase Plan [Member]
Class Of Stock [Line Items]
Share-Based Payment Arrangement, Expense, Tax Benefit		$ 400	$ 100
Common stock, shares issued		45,919	0
Unrecognized compensation expense		$ 500
Term of recognized expense		1 year 1 month 6 days
Increased decrease in stock reserve for future issuance	805,361
Total common stock reserved for future issuance		380,000
Increase in common stock		1%
Employee Stock Purchase Plan Description		the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year, or (2) such smaller amount as determined by the Company’s Board of Directors. On January 1, 2022, the number of shares reserved for issuance under the 2021 Employee Stock Purchase Plan was increased to 805,361 shares.  The ESPP permits eligible employees who elect to participate in an offering under the ESPP to have up to 15% of their eligible earnings withheld, subject to certain limitations, to purchase shares of common stock pursuant to the ESPP. The price of common stock purchased under the ESPP is equal to 85% of the lower of the fair market value of the common stock at the commencement date of each offering period or the relevant date of purchase. Each offering period is twenty-four months, with new offering periods commencing every six months on or about the dates of March 15 and September 15 of each year.
Common Stock | Employee Stock Purchase Plan [Member]
Class Of Stock [Line Items]
Total common stock reserved for future issuance		759,442
Purchase of common stock through payroll deduction		15%
Fair market value of the common stock, percentage		85%

Equity Incentive Plans and St_4

Equity Incentive Plans and Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Number of Outstanding Options, Beginning balance	3,771,516
Number of Outstanding Options, Granted	2,685,077
Number of Outstanding Options, Exercised	(52,357)
Number of Outstanding Options, Cancelled	(513,367)
Number of Outstanding Options, Ending balance	5,890,869	3,771,516
Number of Outstanding Options, Exercisable	1,623,928
Number of Outstanding Options, Vested and expected to vest	5,890,869
Weighted- Average Exercise Price, Beginning balance	$ 9.18
Weighted- Average Exercise Price, Granted	7.71
Weighted- Average Exercise Price, Exercised	4.90
Weighted- Average Exercise Price, Forfeited	14.84
Weighted- Average Exercise Price, Ending balance	7.91	$ 9.18
Weighted- Average Exercise Price, Exercisable	6.80
Weighted- Average Exercise Price, Vested and expected to vest	$ 7.91
Weighted- Average Remaining Contractual Term	8 years 9 months 18 days	9 years 3 months 18 days
Weighted- Average Remaining Contractual Term, Exercisable	8 years 3 months 18 days
Weighted- Average Remaining Contractual Term, Vested and expected to vest	8 years 9 months 18 days
Aggregate Intrinsic Value, Beginning balance	$ 28,901
Aggregate Intrinsic Value, Ending balance	13,492	$ 28,901
Aggregate Intrinsic Value, Exercisable	6,211
Aggregate Intrinsic Value, Vested and expected to vest	$ 13,492

Equity Incentive Plans and St_5

Equity Incentive Plans and Stock-Based Compensation - Summary of Fair Value of Stock Option Grants (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Dividend yield	0%	0%
Minimum
Class Of Stock [Line Items]
Stock price	$ 5.38	$ 0.99
Risk-free rate of interest	1.60%	0.80%
Expected term (years)	5 years 1 month 6 days	5 years
Expected stock price volatility	82.30%	88.20%
Maximum
Class Of Stock [Line Items]
Stock price	$ 12.57	$ 24.15
Risk-free rate of interest	4.30%	1.40%
Expected term (years)	6 years 1 month 6 days	6 years 1 month 6 days
Expected stock price volatility	90.40%	99.90%

Equity Incentive Plans and St_6

Equity Incentive Plans and Stock-Based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 10,588	$ 2,887
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	4,914	1,341
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 5,674	$ 1,546

Equity Incentive Plans and St_7

Equity Incentive Plans and Stock-Based Compensation - Schedule of Share-Based Compensation, Employee Stock Purchase Plan (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Dividend yield	0%	0%
Minimum [Member]
Class Of Stock [Line Items]
Stock price	$ 5.38	$ 0.99
Risk-free rate of interest	1.60%	0.80%
Expected term (years)	5 years 1 month 6 days	5 years
Expected stock price volatility	82.30%	88.20%
Maximum [Member]
Class Of Stock [Line Items]
Stock price	$ 12.57	$ 24.15
Risk-free rate of interest	4.30%	1.40%
Expected term (years)	6 years 1 month 6 days	6 years 1 month 6 days
Expected stock price volatility	90.40%	99.90%
Employee Stock Purchase Plan [Member]
Class Of Stock [Line Items]
Stock price		$ 16
Dividend yield	0%	0%
Employee Stock Purchase Plan [Member] | Minimum [Member]
Class Of Stock [Line Items]
Stock price	$ 7.74
Risk-free rate of interest	0.90%	0%
Expected term (years)	6 months	6 months
Expected stock price volatility	74.70%	69.70%
Employee Stock Purchase Plan [Member] | Maximum [Member]
Class Of Stock [Line Items]
Stock price	$ 11.03
Risk-free rate of interest	4%	0.30%
Expected term (years)	2 years	2 years
Expected stock price volatility	89.80%	92.40%

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net loss	$ (55,325)	$ (26,294)
Denominator:
Weighted average common shares outstanding	42,627,825	15,206,879
Less: weighted-average unvested restricted common stock subject to repurchase	(269,174)	(732,418)
Less: weighted average unvested common stock issued upon early exercise of common stock options	(474,746)	(693,915)
Weighted-average shares used to compute net loss basic	41,883,904	13,780,546
Weighted-average shares used to compute net loss diluted	41,883,904	13,780,546
Net loss per share, basic	$ (1.32)	$ (1.91)
Net loss per share, diluted	$ (1.32)	$ (1.91)

Net Loss Per Share - Potentiall

Net Loss Per Share - Potentially Dilutive Securities Including All Outstanding Stock Options were excluded in Calculation of Diluted Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	6,171,778	4,866,564
Unvested Restricted Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	3,828	495,170
Unvested Common Stock Exercise Of Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	277,081	599,878
Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	5,890,869	3,771,516

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Expected tax benefit at statutory rate	$ (11,618)	$ (5,392)
State income tax, net of federal benefit	(58)	(1,661)
Officers compensation	598	28
Permanent items and other	707	86
Research credits	(2,093)	(680)
Change in valuation allowance	12,466	7,620
Income tax expense (benefit)	$ 2	$ 1

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 11,596	$ 9,297
Deferred tax assets capitalized research and development	7,097	0
Tax credits	2,958	874
Stock compensation	1,016	239
Other, net	1,090	470
Total deferred tax assets	23,757	10,880
Valuation allowance	(23,085)	(10,618)
Deferred tax assets, net of valuation allowance	672	262
Deferred tax liabilities:
Depreciation	(151)	(37)
Right of use assets	(521)	(225)
Total deferred tax liabilities	(672)	(262)
Net deferred tax assets / (liabilities)	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	$ 23,085,000	$ 10,618,000
Change in valuation allowance	$ 12,500,000
Percentage of federal net operating losses used to offset of future taxable income	80%
Penalties and Interest Accrued	$ 0
Domestic Country [Member]
Income Tax Contingency [Line Items]
Tax loss carryforwards	46,000,000
Net operating loss carryforwards	46,000,000
Tax credit carryforward	$ 2,700,000
Research and development credit carryforwards under internal revenue code description	The federal research and development tax credits begin to expire in 2038 unless previously utilized.
State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax loss carryforwards	$ 35,900,000
Net operating loss carryforwards	$ 1,100,000
Net operating loss carryforwards, expire date	Unless previously utilized, certain state net operating losses will begin to expire in 2038. In accordance with the 2017 Tax Cuts and Jobs Act, research and experimental (R&E) expenses under Internal Revenue Code (IRC) Section 174 are required to be capitalized beginning in 2022. R&E expenses are required to be amortized over a period of five years for domestic expenses and 15 years for foreign expenses. The Company has capitalized R&E expenses in its current tax provision pursuant to the IRC Section 174.
Tax credit carryforward	$ 1,300,000
Research and development credit carryforwards under internal revenue code description	The federal research and development tax credits begin to expire in 2038 unless previously utilized.

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Beginning balance	$ 1,142	$ 91
Additions related to current year positions	366	312
Additions related to prior year positions	66	739
Ending balance	$ 1,574	$ 1,142

Leases (Additional Information)

Leases (Additional Information) (Details)	1 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($) Renewal	May 31, 2021 Renewal	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 31, 2020 USD ($) ft²
Lessee, Lease, Description [Line Items]
Operating lease liability			$ 2,622,000
Operating lease cost			322,000	$ 331,000
Lease liability paid			$ 300,000	$ 200,000
First Amendment [Member] | Original Lease [Member]
Lessee, Lease, Description [Line Items]
Area of lease | ft²					4,734
First Amendment [Member] | Office and Laboratory Facilities [Member] | Original Lease [Member]
Lessee, Lease, Description [Line Items]
Operating lease term of contract		60 months
Security Deposit					$ 21,000
Long-term line of credit					$ 200,000
Number of lease term renewal option | Renewal		2
Operating lease renewal term		36 months
Expansion Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Operating lease liability	$ 5,500,000
Operating lease term of contract	120 months
Number of lease term renewal option | Renewal	2
Operating lease renewal term	36 months

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 322	$ 331
Finance lease cost
Amortization of ROU assets	0	5
Short-term lease cost	81	73
Variable lease cost	56	16
Total Lease Cost	$ 459	$ 420

Leases - Schedule of Maturities

Leases - Schedule of Maturities Lease Liabilities Weighted-Average Remaining Term and Weighted-Average Discount Rate (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023		$ 300
2024		309
2025		318
2026		328
Thereafter		2,381
Total minimum lease payments	[1]	3,636
Less: amount representing interest		(1,014)
Present value of lease liabilities		2,622
Less: current portion of lease liabilities		(140)	$ (202)
Lease liabilities, noncurrent		$ 2,482	$ 981
Weighted-average remaining lease term (years) - operating leases		10 years 6 months	4 years 7 months 6 days
Weighted-average incremental borrowing rate - operating leases		6.50%	7.50%
[1] Excludes $ 5.5 million of legally binding minimum lease payments for leases not yet commenced

Leases - Schedule of Maturiti_2

Leases - Schedule of Maturities Lease Liabilities Weighted-Average Remaining Term and Weighted-Average Discount Rate (Parenthetical) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Leases [Abstract]
Legally binding minimum lease payments for leases not yet commenced	$ 5.5