AN2 Therapeutics (ANTX) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Registrant Name	AN2 Therapeutics, Inc.
Entity Central Index Key	0001880438
Entity File Number	001-41331
Entity Tax Identification Number	82-0606654
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	No
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, Address Line One	1800 El Camino Real
Entity Address, Address Line Two	Suite D
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94027
City Area Code	650
Local Phone Number	331-9090
Title of 12(b) Security	Common Stock
Trading Symbol	ANTX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		19,402,658

CONDENSED BALANCE SHEETS (Unaud

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 82,519	$ 12,097
Short-term investments	35,835	46,458
Prepaid expenses and other current assets	1,397	1,551
Right-of-use asset, net	32
Total current assets	119,783	60,106
Deferred offering costs		1,724
Long-term investments		3,486
Other assets, long-term	720
Total assets	120,503	65,316
Current liabilities:
Accounts payable	2,609	1,063
Accrued compensation	335	916
Accrued liabilities	2,101	1,399
Operating lease liabilities, short-term	32
Options subject to repurchase, short-term	10	17
Total current liabilities	5,087	3,395
Options subject to repurchase, long-term	6	13
Total liabilities	5,093	3,408
Commitments and contingencies (Note 6)
Redeemable convertible preferred stock: $0.00001 par value - 10,000,000 and 11,409,536 shares authorized at March 31, 2022 and December 31, 2021, respectively, 0 and 11,409,488 shares issued and outstanding at March 31, 2022 and December 31, 2021; aggregate liquidation preference $0 and $103,064 at March 31, 2022 and December 31, 2021, respectively		109,319
Stockholders' equity (deficit):
Common stock, $0.00001 par value; 500,000,000 and 17,166,642 shares authorized at March 31, 2022 and December 31, 2021, respectively; 18,712,658 and 2,730,298 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively
Additional paid-in capital	171,990
Accumulated other comprehensive loss	(158)	(27)
Accumulated deficit	(56,422)	(47,384)
Total stockholders' equity (deficit)	115,410	(47,411)
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)	120,503	65,316
Redeemable Convertible Preferred Stock
Current liabilities:
Redeemable convertible preferred stock: $0.00001 par value - 10,000,000 and 11,409,536 shares authorized at March 31, 2022 and December 31, 2021, respectively, 0 and 11,409,488 shares issued and outstanding at March 31, 2022 and December 31, 2021; aggregate liquidation preference $0 and $103,064 at March 31, 2022 and December 31, 2021, respectively		$ 109,319

CONDENSED BALANCE SHEETS (Una_2

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Temporary equity, shares authorized		11,409,536
Temporary equity, shares issued		11,409,488
Temporary equity, shares outstanding	0	11,409,488
Liquidation preference		$ 103,064
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	500,000,000	17,166,642
Common stock, shares issued	18,712,658	2,730,298
Common stock, shares outstanding	18,712,658	2,730,298
Redeemable Convertible Preferred Stock
Temporary equity, par value	$ 0.00001	$ 0.00001
Temporary equity, shares authorized	10,000,000	11,409,536
Temporary equity, shares issued	0	11,409,488
Temporary equity, shares outstanding	0	11,409,488
Liquidation preference	$ 0	$ 103,064

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating expenses:
Research and development	$ 5,633	$ 1,649
General and administrative	2,050	401
Total operating expenses	7,683	2,050
Loss from operations	(7,683)	(2,050)
Interest income	27	2
Other income (expense)	1	0
Net loss	(7,655)	(2,048)
Accretion to redemption value and cumulative dividends on preferred stock	(1,820)	(761)
Net loss attributable to common stockholders	$ (9,475)	$ (2,809)
Net loss per share attributable to common stockholders, basic and diluted	$ (2.98)	$ (1.07)
Weighted-average number of shares used in computing net loss per share, basic and diluted	3,180,717	2,620,670
Other comprehensive income (loss):
Unrealized loss on investments	$ (131)	$ 0
Comprehensive loss	$ (7,786)	$ (2,048)

CONDENSED STATEMENTS OF REDEEMA

CONDENSED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance at Dec. 31, 2020	$ (20,319)					$ (20,319)
Redeemable convertible preferred stock, Beginning balance at Dec. 31, 2020		$ 23,070
Redeemable convertible preferred stock, beginning balance, shares at Dec. 31, 2020		6,076,196
Beginning balance, shares at Dec. 31, 2020			2,707,468
Redeemable convertible preferred stock, Accretion to redemption value and cumulative dividends on preferred stock		$ 761
Accretion to redemption value and cumulative dividends on preferred stock	(761)			$ (14)		(747)
Issuance of Series B redeemable convertible preferred stock at $15 per share for cash, net of issuance costs of $266		$ 79,734
Issuance of Series B redeemable convertible preferred stock at $15 per share for cash, net of issuance costs of $266, shares		5,333,292
Issuance of common stock upon the exercise of stock options, shares			22,830
Vesting of early exercised stock options	6			6
Stock-based compensation	8			8
Net loss	(2,048)					(2,048)
Ending balances at Mar. 31, 2021	(23,114)					(23,114)
Redeemable convertible preferred stock, ending balance at Mar. 31, 2021		$ 103,565
Redeemable convertible preferred stock, ending balance, shares at Mar. 31, 2021		11,409,488
Ending balances, shares at Mar. 31, 2021			2,730,298
Beginning balance at Dec. 31, 2021	(47,411)				$ (27)	(47,384)
Redeemable convertible preferred stock, Beginning balance at Dec. 31, 2021	$ 109,319	$ 109,319
Redeemable convertible preferred stock, beginning balance, shares at Dec. 31, 2021	11,409,488	11,409,488
Beginning balance, shares at Dec. 31, 2021			2,730,298
Redeemable convertible preferred stock, Accretion to redemption value and cumulative dividends on preferred stock		$ 1,820
Accretion to redemption value and cumulative dividends on preferred stock	$ (1,820)			(437)		(1,383)
Redeemable convertible preferred stock, conversion of convertible preferred stock into common stock		$ (111,139)
Redeemable convertible preferred stock, conversion of convertible preferred stock into common stock, shares		(11,409,488)
Conversion of convertible preferred stock into common stock	111,139			111,139
Conversion of convertible preferred stock into common stock, shares			11,409,488
Issuance of common stock upon initial public offering, net of underwriters' commission and offering costs of $3.3 million	$ 60,836			60,836
Issuance of common stock upon initial public offering, net of underwriters' commission and offering costs of $3.3 million, shares			4,600,000
Issuance of common stock upon the exercise of stock options, shares	0
Vesting of early exercised stock options	$ 14			14
Repurchase of early exercised stock options	(11)			(11)
Repurchase of early exercised stock options, shares			(27,128)
Stock-based compensation	449			449
Unrealized gain on available-for-sale investments	(131)				(131)
Net loss	(7,655)					(7,655)
Ending balances at Mar. 31, 2022	$ 115,410			$ 171,990	$ (158)	$ (56,422)
Redeemable convertible preferred stock, ending balance at Mar. 31, 2022
Redeemable convertible preferred stock, ending balance, shares at Mar. 31, 2022	0	0
Ending balances, shares at Mar. 31, 2022			18,712,658

CONDENSED STATEMENTS OF REDEE_2

CONDENSED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Initial Public Offering
Issuance costs	$ 8,100
Series B Redeemable Convertible Preferred Stock
Stock issued, price per share		$ 15
Issuance costs		$ 266

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash flows used in operating activities
Net Loss	$ (7,655)	$ (2,048)
Adjustments to reconcile net los to net cash used in operating activities:
Stock-based compensation expense	449	8
Non-cash operating lease expense	18
Amortization of net investment premium	1
Changes in operating assets and liabilities:
(Increase) decrease in prepaid expenses and other assets	(566)	102
Increase in accounts payable	1,546	379
Decrease in accrued compensation	(581)	(316)
Increase in accrued liabilities	64	332
Decrease in operating lease liabilities	(18)
Net cash used in operating activities	(6,742)	(1,543)
Cash flows from investing activities
Purchase of investments	(998)
Proceeds upon maturities of investments	14,975
Net cash provided by investing activities	13,977
Cash flows from financing activities
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs		79,734
Proceeds from exercise of stock options		10
Repurchase of early exercised stock options	(11)
Proceeds from issuance of common stock from the initial public offering, net of underwriting discounts, commissions and offering expenses	63,198
Net cash provided by financing activities	63,187	79,744
Net increase in cash and cash equivalents	70,422	78,201
Cash and cash equivalents at the beginning of the period	12,097	4,070	$ 4,070
Cash and cash equivalents at the end of the period	82,519	82,271	$ 12,097
Supplemental Cash Flow Elements [Abstract]
Conversion of redeemable convertible preferred stock into common stock	111,139
Accretion to redemption value and cumulative dividends on preferred stock	1,820	$ 761
Issuance costs for initial public offering included in accounts payable and accrued liabilities	$ 1,151

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of the Business Description of Business AN2 Therapeutics, Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on developing treatments for rare, chronic, and serious infectious diseases with high unmet needs. The Company’s initial product candidate, epetraborole, is under development as a once-daily, oral treatment for patients with non-tuberculous mycobacterial (NTM) lung disease with an initial focus on treatment-refractory Mycobacterium avium complex (MAC) lung disease. The Company was incorporated in the state of Delaware in February 2017, began operations in November 2019, began trading on the Nasdaq Global Select Market on March 25, 2022 under the symbol “ANTX”, and is based in Menlo Park, California. Since launching operations in November 2019, the Company has devoted substantially all of its resources to performing research and development activities, including with respect to its initial product candidate, epetraborole, business planning, hiring personnel, raising capital and providing general and administrative support for these operations. Initial Public Offering On March 24, 2022, the Company’s registration statement on Form S-1 (File No. 333-263295) relating to its initial public offering (“IPO”) of common stock became effective. The IPO closed on March 29, 2022, at which time the Company issued an aggregate of 4,600,000 shares of its common stock at a price to the public of $ 15.00 per share. In addition, immediately prior to the closing of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock automatically converted into 11,409,488 shares of common stock. The aggregate offering proceeds for shares sold in the IPO was $ 69.0 million. After deducting underwriting discounts and commissions of $ 4.8 million and offering costs paid or payable by the Company of $ 3.3 million, the net proceeds from the offering were approximately $ 60.9 million.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The Company’s financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). Unaudited Interim Condensed Financial Information The accompanying condensed balance sheets as of March 31, 2022, the condensed statements of operations and comprehensive loss, the condensed statements of redeemable convertible preferred stock and stockholders’ equity (deficit) and condensed statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited. The unaudited interim condensed financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2022 and the results of its operations and its cash flows for the three months ended March 31, 2022 and 2021. The financial data and other information disclosed in these notes related to the three months ended March 31, 2022 and 2021 are also unaudited. The results for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period. The balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. Certain disclosures have been condensed or omitted from the interim condensed financial statements. These unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements included in the prospectus filed with the U.S. Securities and Exchange Commission (“SEC”), dated March 24, 2022. Risks and Uncertainties Liquidity Prior to the Company’s IPO in March 2022, the Company’s operations have historically been financed through the issuance of redeemable convertible preferred stock. Since inception, the Company has incurred significant losses and negative net cash flows from operations. During the three months ended March 31, 2022 and 2021, the Company incurred a net loss of $ 7.7 million and $ 2.0 million, respectively and had cash flows used in operating activities of $ 6.7 million and $ 1.5 million, respectively. The Company has an accumulated deficit as of March 31, 2022 and December 31, 2021 of $ 56.4 million and $ 47.4 million, respectively, and will require substantial additional capital for research and development activities. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its product candidate currently in development. As of March 31, 2022, the Company had cash, cash equivalents and investments of $ 118.4 million. Management believes that its cash, cash equivalents and investments as of March 31, 2022 will be sufficient to fund its current operating plan through at least 12 months from the issuance date of these condensed financial statements. Future capital requirements will depend on many factors, including the timing and extent of spending on research and development, including costs for preclinical and nonclinical studies, clinical trials and clinical trial material manufacturing. There can be no assurance that, in the event the Company requires additional financing, such financing will be available at terms acceptable to the Company if at all. Failure to generate sufficient cash flows from operations, raise additional capital, and reduce discretionary spending should additional capital not become available could have a material adverse effect on the Company’s ability to achieve its intended business objectives. Other Risks and Uncertainties The Company is subject to a number of risks similar to those of other clinical-stage biopharmaceutical companies, including, but not limited to: dependence on key individuals, the need to develop commercially viable therapeutics, competition from other companies, many of which are larger and better capitalized, protection of intellectual property rights, litigation or claims against the Company based on intellectual property rights, regulatory clearance, market acceptance of the Company’s products and the need to obtain adequate additional financing to fund the development of its products. In March 2020, the World Health Organization declared the global novel coronavirus disease (“COVID-19”) outbreak a pandemic. To date, the Company’s business has not been materially impacted by the COVID-19 pandemic. However, the Company has experienced certain slowing of its preclinical and clinical trials and cannot at this time predict the specific extent, duration, or full impact that the COVID-19 pandemic will have on its financial condition and operations, including ongoing and planned preclinical and nonclinical studies, clinical trials and clinical trial material manufacturing. The impact of the COVID-19 pandemic on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related governmental advisories and restrictions. These developments and the impact of COVID-19 on the financial markets and the overall economy are highly uncertain. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s results may be adversely affected. In February 2022, Russia commenced a military invasion of Ukraine. The ongoing geopolitical turmoil and continuing military action in the region, together with widening sanctions imposed on Russia, have caused disruptions in the global economy, related to trade and shipping, and increased costs of transportation, as well as potentially affecting the availability of European clinical sites. The duration and impact of the conflict between Russia and Ukraine is highly unpredictable and the extent to which the conflict may impact certain of the Company's clinical development and regulatory efforts remains uncertain. While the Company does not currently conduct any trials in Russia or Ukraine that are impacted by the present conflict, any disruptions or increased costs related to the shipping of supplies and drug necessary to conduct the Company's trials, as well as the continued availability of European clinical sites, could negatively impact the Company's liquidity and cash flows. Segments The Company operates and manages its business as one reportable and operating segment. The Company’s chief executive officer, who is the chief operating decision maker, reviews financial information on a company-wide basis for purposes of allocating resources and assessing financial performance. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to research and development accruals, fair value of assets and liabilities and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Stock Split On March 17, 2022, the Board of Directors and stockholders approved, and, on March 18, 2022, the Company filed, an amended and restated certificate of incorporation effecting a 2.352936 -for-1 forward stock split of common stock and all redeemable convertible preferred stock. The par value of the common and redeemable convertible preferred stock was not adjusted as a result of the stock split. All authorized, issued and outstanding common stock, redeemable convertible preferred stock, stock options and per share amounts contained in the financial statements have been retroactively adjusted to reflect this stock split for all periods presented. Deferred Offering Costs The Company capitalizes certain legal, accounting and other third-party fees that are directly related to the Company’s equity financings, including its IPO, until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction of the proceeds received as a result of the financing. The Company capitalized certain legal, accounting and other third-party fees that were directly related to the Company’s IPO. After the completion of the IPO in March 2022, the total deferred offering costs of $ 3.3 million were offset against the proceeds from the IPO and reclassified to additional paid-in capital in the accompanying condensed balance sheets. At December 31, 2021, deferred offering costs totaling $ 1.7 million were included as non-current assets in the accompanying balance sheet. Research and Development Expenses All research and development costs, including work performed by third parties, are expensed as incurred. Research and development costs consist of salaries and other personnel-related expenses, including associated stock-based compensation, consulting fees, and facility costs, as well as fees paid to other entities that conduct certain research and development activities on behalf of the Company. Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods are received or services are rendered. As part of the process of preparing its financial statements, the Company estimates its accrued expenses. This process involves reviewing quotations and contracts, identifying services that have been performed on the Company’s behalf and estimating the level of services performed and the associated cost incurred for services for which the Company has not yet been invoiced or otherwise notified of the actual cost. The majority of the Company’s service providers invoice monthly in arrears for services performed or when contractual milestones are met. The Company makes estimates of its accrued expenses at the end of each reporting period based on the facts and circumstances known to the Company at that time. The significant estimates in the Company’s accrued research and development expenses relate to expenses incurred with respect to contract manufacturing and research organizations, academic research centers and other vendors in connection with research and development activities for which the Company has not yet been invoiced. Redeemable Convertible Preferred Stock The Company recorded the redeemable convertible preferred stock at fair value on the dates of issuance, net of issuance costs. The carrying value of the redeemable convertible preferred stock was accreted to its redemption value. Immediately prior to the closing of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock were converted into shares of common stock and the related carrying value was reclassified to common stock and additional paid-in capital. There were no shares of redeemable convertible preferred stock outstanding as of March 31, 2022. Stock-Based Compensation The Company measures and recognizes compensation expense for equity-classified stock-based awards made to employees, directors and non-employees based on the grant date estimated fair value of each award. Compensation expense for employee and director awards is recognized on a straight- line basis over the requisite service period which is generally the vesting period for the entire award. Expense is adjusted for forfeitures as they occur. Compensation expense for non-employee awards is recognized in the same period and manner as if the Company had paid cash for the goods or services provided. The valuation model used for calculating the fair value of stock options for stock compensation expense is the Black-Scholes option-pricing model (the Black-Scholes model). The Black-Scholes model requires management to make assumptions and judgments about the variables used in the calculation, including the expected term, the expected volatility of common stock, an assumed risk-free interest rate, and expected dividends the Company may pay. Management elected to apply the practical expedient for private companies and used the simplified method to determine the awards’ expected term. Volatility is based on an average of the historical volatilities of the common stock of entities with characteristics similar to the Company’s. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company uses an assumed dividend yield of zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. For awards that contain performance conditions, compensation cost is recognized in the period in which it becomes probable that the performance condition will be satisfied. The grant date fair value of these awards is equal to the fair value of the underlying shares as determined by the price other investors paid for such shares in recent transactions. For awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense would be recognized until the performance-based vesting condition is achieved. Fair Value of Common Stock Prior to the Company's IPO, the absence of an active market for the Company’s common stock required the Company’s board of directors to determine the fair value of its common stock for purposes of granting stock options. The fair value of the Company’s common stock was determined by the Company’s board of directors with assistance from management and an independent third-party valuation firm. Management’s approach to estimating the fair value of the Company’s common stock was consistent with the methods outlined in the American Institute of Certified Public Accountants’ Practice Aid, Valuation of Privately-Held- Company Equity Securities Issued as Compensation . Determining the best estimated fair value of the Company’s common stock requires significant judgement and management considers several factors, including the Company’s stage of development, equity market conditions affecting comparable public companies, significant milestones and progress in research and development efforts. Following the completion of its IPO, the Company uses its stock price traded on the Nasdaq Global Select Market to determine its fair value. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which consist of money market funds, corporate debt securities and corporate commercial paper, are stated at fair value. As of March 31, 2022 and December 31, 2021, the Company had cash equivalents of $ 82.5 million and $ 12.1 million, respectively. Investments Investments consist of U.S. Treasuries, asset-backed securities, corporate debt securities and corporate commercial paper. All of the Company’s investments are classified as available-for-sale and are carried at estimated fair values and reported in cash equivalents, short-term investments or long- term investments. Management determines the appropriate classification of the investments at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. Investments with contractual maturities greater than 12 months are considered long-term investments. Unrealized gains and losses on available-for-sale investments are reported in accumulated other comprehensive gain (loss) as a separate component of stockholders’ equity (deficit). Investments are regularly reviewed for other-than-temporary declines in fair value. The review includes consideration of the cause of impairment, including the creditworthiness of the security issuers, the number of investments in an unrealized loss position, the severity and duration of the unrealized losses, and whether it is more likely than not that the Company will be required to sell the investments before the recovery of their amortized cost basis. The cost of investments sold, if any, is based on the specific identification method. To date, the Company has not recorded any impairment charges on its investments related to other-than-temporary declines in market value. As of March 31, 2022 and December 31, 2021, the Company had investments of $ 35.8 million and $ 49.9 million, respectively. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and investments. The Company’s cash is invested through financial institutions in the United States. The Company’s investments consist of debt securities, issued by highly rated corporate entities or the U.S. government, and asset-backed securities. The Company’s exposure to any individual corporate entity is limited by its investment policy. Deposits may at times, exceed federally insured limits, but minimal credit risk exists. The Company invests its cash equivalents in highly rated money market funds. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company is exposed to credit risk in the event of a default by the financial institution holding its cash to the extent recorded on the condensed balance sheets. Through March 31, 2022, the Company has no off-balance sheet concentrations of credit risk. Comprehensive Loss Comprehensive loss includes net loss and certain changes in stockholders’ equity (deficit) that are excluded from net loss. The Company’s other comprehensive loss consists of net changes in unrealized gains and losses on its available-for-sale investments. For the three months ended March 31, 2022 the Company had $ 0.1 million of net unrealized loss on available-for-sale investments, and no net unrealized gain or loss on available-for-sale investments for the three months ending March 31, 2021. Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, redeemable convertible preferred stock, stock options, common stock subject to repurchase related to unvested early exercise of stock options are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities as the redeemable convertible preferred stock is considered a participating security because it participates in dividends with common stock. The Company also considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of all series of redeemable convertible preferred stock and the holders of early exercised shares subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Because the Company has reported a net loss for all periods presented, diluted net loss per share is the same as basic net loss per share for those periods because the impact of potentially dilutive securities would be anti-dilutive. JOBS Act Accounting Election The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Recently Adopted Accounting Pronouncements In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”). ASU 2018-11 provided an alternative method in addition to the modified retrospective transition method for ASU No. 2016-02, Leases: Amendments to the FASB Accounting Standards Codification (“ASU 2016-02”), issued in February 2016. Under ASU 2018-11, an entity may elect to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under ASU 2016-02, a lease is required to recognize assets and liabilities with lease terms of more than twelve months. ASU 2016-02 is effective for nonpublic business entities and public entities eligible to be Smaller Reporting Companies for fiscal years beginning after December 15, 2021. The Company adopted the new standard on January 1, 2022 using the modified retrospective approach. The Company has elected to apply the transition method that allows companies to continue applying the guidance under the lease standard in effect at that time in the comparative periods presented in the condensed financial statements and recognize a cumulative-effect adjustment to the opening balance of accumulated deficit on the date of adoption. The Company has elected to combine lease components (for example fixed rent payments) with non-lease components (for example, common-area maintenance costs) on its facility and CRO embedded lease asset classes. The Company also elected the “package of practical expedients”, which permits the Company not to reassess under the new standard the Company’s prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the short-term lease practical expedients allowed under the standard. Lastly, the Company did not elect the practical expedient allowing the use-of-hindsight which would require the Company to reassess the lease term of its leases based on all facts and circumstances through the effective date. Results for reporting period beginning after January 1, 2022 are presented under the new standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. Upon adoption of the new lease standard, on January 1, 2022, the Company capitalized operating lease right-of-use (ROU) assets of $ 0.05 million and $ 0.05 million of operating lease liabilities, within the condensed balance sheets upon adoption. Recent Accounting Pronouncements Not Yet Adopted Since the Company's IPO, it has been the Company’s intention to take advantage of certain temporary exemptions from various reporting requirements and the Company is taking advantage of additional transitional relief available to emerging growth companies. The Company may take advantage of these provisions for up to five years (which should be through March 2027), unless the Company ceases to be an emerging growth company at an earlier date. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842): Effective Dates, which defers the effective date of ASU 2016-13 to fiscal years beginning after December 15, 2022 for SEC reporting companies that are smaller reporting companies such as the Company. The Company is currently evaluating the impact of the adoption of ASU 2016-13 on its financial statements, and will consider the extended transition period available to “emerging growth" companies.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements The Company records its financial assets and liabilities at fair value. The accounting guidance for fair value provides a framework for measuring fair value, clarifies the definition of fair value, and expands disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: • Level 1: Inputs which include quoted prices in active markets for identical assets and liabilities. • Level 2: Inputs other than Level I that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s primary financial instruments include cash, cash equivalents, short- and long-term investments, prepaid expenses, accounts payable, and accrued liabilities. The carrying amounts of the Company’s financial instruments, other than cash equivalents, short- and long-term investments, approximate fair value due to their relatively short maturities. The following table presents the Company’s financial assets, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis (in thousands): March 31, 2022 Level Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents: Money market funds Level 1 $ 67,572 $ — $ — $ 67,572 Commercial paper Level 2 5,493 — ( 1 ) 5,492 Short-term investments: U.S. treasury securities Level 1 7,995 — ( 79 ) 7,916 Commercial paper Level 2 24,980 — ( 65 ) 24,915 Asset-backed securities Level 2 3,019 — ( 13 ) 3,006 Total $ 109,059 $ — $ ( 158 ) $ 108,901 December 31, 2021 Level Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents: Money market funds Level 1 $ 3,567 $ — $ — $ 3,567 Commercial paper Level 2 2,999 — — 2,999 Corporate debt securities Level 2 1,501 — — 1,501 Short-term investments: U.S. treasury securities Level 1 4,500 — ( 11 ) 4,489 Commercial paper Level 2 33,716 4 ( 5 ) 33,715 Asset-backed securities Level 2 8,261 — ( 7 ) 8,254 Long-term investments: U.S. treasury securities Level 1 3,494 — ( 8 ) 3,486 Total $ 58,038 $ 4 $ ( 31 ) $ 58,011 For the three months ended March 31, 2022, there were no other-than-temporary impairment charges recognized in accumulated other comprehensive income. For the three months ended March 31, 2021 the Company had no investments. The Company classifies its money market funds and U.S. treasury securities, which are valued based on quoted market prices in active markets with no valuation adjustment, as Level 1 assets within the fair value hierarchy. The Company classifies its investments in commercial paper, corporate debt securities and asset- backed-securities as Level 2 within the fair value hierarchy. The fair values of these investments are estimated by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data and other observable inputs. There were no transfers of financial instruments between valuation levels during the three months ended March 31, 2022. As of March 31, 2022, no ne of the Company’s available-for-sale investments that were in an unrealized loss position had been in an unrealized loss position for more than 12 months. During the three months ended March 31, 2022 and 2021, the Company did no t sell any available-for-sale investments. The Company’s short-term investments had maturities of less than one year from the balance sheet date. The Company’s long-term investments had maturities of between one and two years from the balance sheet date.

Collaboration and License Agree

Collaboration and License Agreements	3 Months Ended
	Mar. 31, 2022
Collaboration And License Agreements [Abstract]
Collaboration and License Agreements	Note 4. Collaboration and License Agreements Anacor Licensing Agreement In November 2019, the Company entered into an exclusive worldwide license agreement with Anacor Pharmaceuticals, Inc. (“Anacor”) for certain compounds and other intellectual property controlled by Anacor for the treatment, diagnosis, or prevention of all human diseases (the “Anacor License”). The Anacor License will expire upon expiration of the last to expire royalty term. Either party may terminate the Anacor License for the other party’s material breach following a cure period or immediately upon certain insolvency events relating to the other party. The Company has the right to terminate the agreement at its convenience upon 90-day written notice until the first regulatory approval or one-year notice thereafter. Furthermore, upon termination of the Anacor License for any of the foregoing reasons, the rights and licenses within will terminate. In exchange for the worldwide, sublicensable, exclusive right and licenses to develop, manufacture, and commercialize the specified compounds, the Company paid Anacor a non-refundable $ 2.0 million upfront payment and granted Anacor an aggregate 1,362,499 shares of Series A redeemable convertible preferred stock. For financial reporting purposes the fair value of the shares was $ 2.46 per share for a total of $ 3.4 million. The fair value of the shares granted is based on the $ 2.55 per share price paid by other investors for issued shares in the Series A financing. The Series A redeemable convertible preferred stock granted to Anacor is accounted for as non-employee awards and is recognized upon the transfer of the license and upon the Company meeting certain operational milestones as included in the Series A Stock Purchase Agreement. As of December 31, 2020, the related performance and service conditions were satisfied. The Company recorded the transaction as an asset acquisition as substantially all of the fair value of the gross assets acquired were concentrated in one of the compounds. The assets acquired in the transaction were measured based on the upfront payment and the fair value of the Series A redeemable convertible preferred stock shares issued to Anacor, as the fair value of the consideration given, $ 5.4 million, was more readily determinable than the fair value of the assets received. As the in-process research and development assets have not yet received regulatory approval and have no alternative future use, the fair value of the assets was recorded as research and development expense—related party. The Company agreed to make further payments to Anacor upon achievement of various development milestones for an aggregate maximum of $ 2.0 million, upon achievement of various commercial and sales threshold milestones for an aggregate maximum payment of $ 125.0 million, and up to 50 % of royalties received under certain sublicensing arrangements. Royalties are subject to certain customary reductions, including lack of patent coverage and generic product entry. The Company also agreed to pay Anacor non-refundable, non-creditable sales royalties on a tiered marginal royalty rate based on the country’s status as a developing or developed country as defined in the license agreement. Sales royalties are a percentage of net sales, as specified in the Anacor License, and range from mid-single digits for developing countries (as classified by the World Bank) and single to mid-teens for all other countries or the China, Hong Kong, Taiwan and Macau territories, upon reaching a minimum of net sales in the low-teen millions. The sales royalties are required to be paid on a product-by-product and country-by-country basis, until the latest to occur of 15 years following the date of first commercial sale of a product, the expiration of all regulatory or data exclusivity, or the date upon of the expiration of the last to expire valid claim of a licensed patent covering such product in such country. Currently, the date of the expiration of the last to expire valid claim of a licensed patent covering epetraborole in the licensed territory is June 2028. In addition, Anacor is entitled to certain milestone payments upon a change of control of the Company. In December 2021, the Company entered into an amendment to the Anacor License for certain compounds and other intellectual property controlled by Anacor for the treatment, diagnosis, or prevention of certain bacterial pathogens (the “Anacor License Amendment”). The Anacor License Amendment has no impact on the Anacor License financial terms. None of the future development, regulatory, commercial or sales milestones or royalty payments were recognized during the three months ended March 31, 2022 and 2021. As a result, t he Company did no t record any research and development expense—related party in the condensed statements of operations for the three months ended March 31, 2022 and 2021. Brii Biosciences Agreement In November 2019, the Company entered into a license agreement granting Brii Biosciences Limited the exclusive development and commercialization rights of certain compounds in China, Hong Kong, Taiwan, and Macau for the treatment of human diseases. The Company did no t receive an upfront payment but is eligible to receive up to $ 15.0 million in the aggregate for development and regulatory milestones and up to $ 150 million in commercial milestones upon achieving sales thresholds. The Company is also entitled to tiered mid-single digits to high-first decile percentage sales-based royalties. The sales royalties are required to be paid on a product-by-product and region- by-region basis, until the latest to occur of 15 years following the date of first commercial sale of a product, the expiration of all regulatory or data exclusivity, or the date upon the expiration of the last to expire claim of a licensed patent covering the composition of matter or approved use of such product in such region. The last to expire valid claim of a licensed patent covering the composition of matter or approved use of such product in the licensed territory is June 2028. Future milestone payments and royalties will be accounted for under ASC 606.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Note 5. Leases In May 2021, the Company entered into an operating lease agreement for its principal office in Menlo Park, California. In September 2021, the lease was amended to extend the term to expire in August 2022 . Under the lease agreement, the Company has one 12 - month renewal option through August 2023 . The Company has not entered into any finance lease agreements as of March 31, 2022. The following table summarizes maturities of lease liabilities and the reconciliation of lease liabilities as of March 31, 2022 (in thousands): Operating Leases 2022 (remaining nine months) $ 32 2023 and thereafter — Total future undiscounted lease payments 32 Less: Imputed interest — Total Lease Liabilities $ 32 The following table summarizes total lease expense during the three months ended March 31, 2022 (in thousands): Condensed Statements of Operations and Comprehensive Loss Classification Three Months Ended March 31, 2022 Operating lease expense Operating expenses $ 19 Short-term lease expense Operating expenses 18 Variable lease expense Operating expenses — Total lease expense $ 37 Rent expense was insignificant during the three months ended March 31, 2021. The Company paid $ 0.02 million in operating cash flows from operating leases for amounts included in the measurement of liabilities during the three months ended March 31, 2022. As of March 31, 2022, the weighted-average remaining lease and discount rate term for operating leases was 0.42 years and 8.0 %, respectively.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Note 6 . Balance Sheet Components Accrued Liabilities Accrued liabilities consist of the following (in thousands): March 31, 2022 December 31, 2021 Accrued research and development-related expenses $ 917 $ 495 Accrued research and development-related expenses- — 500 Accrued offering costs 1,151 313 Other 33 91 Total accrued liabilities $ 2,101 $ 1,399

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7 . Commitments and Contingencies Contingencies From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. The Company was not subject to any material legal proceedings as of March 31, 2022 and December 31, 2021, and no material legal proceedings are currently pending or threatened. Guarantees and Indemnifications The Company, as permitted under Delaware law and in accordance with its certification of incorporation, as amended, and bylaws, and pursuant to indemnification agreements with certain of its officers and directors, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, which the officer or director is or was serving at the Company’s request in such capacity. The term of the indemnification period lasts as long as an officer or director may be subject to any proceeding arising out of acts or omissions of such officer or director in such capacity. The maximum amount of potential future indemnification is unlimited; however, the Company currently holds director and officer liability insurance. This insurance limits the Company’s exposure and may enable it to recover a portion of any future amounts paid. The Company believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to these obligations for any period presented. Adjuvant Global Health Agreement In conjunction with Adjuvant Global Health Technology Fund L.P.’s (“Adjuvant”) investment in the Company’s Series A redeemable convertible preferred stock financing in November 2019, the Company entered into a Global Health Agreement with Adjuvant, pursuant to which the Company agreed to support the creation of innovative and affordable drugs to treat disease, through public health programs and private purchasers in Low and Low-Middle-Income Countries (as such terms are defined by the World Bank and in the agreement). Adjuvant purchased a total of 1,964,051 shares of the Company’s Series A redeemable convertible preferred stock in 2019 and 2020 for a total investment of $ 5.0 million. Adjuvant’s investment supports the development of the Company’s product candidate, epetraborole, for use in melioidosis-endemic and melioidosis-at-risk countries as defined in the agreement. These global access commitments became effective as of the Series A redeemable convertible preferred stock financing closing date and will remain in effect until the latter that Adjuvant ceases to be a shareholder of the Company or, ten years following epetraborole approval for melioidosis by a regulatory authority. The Global Health Agreement contains various affirmative and negative covenants agreed to by the Company, including its use of reasonably diligent endeavors to develop the agreed-upon products using non-dilutive funding and make accessible to people in need in the target countries so long as the Company does not sell products at a loss. Other covenants include prohibition of use of investment for propaganda, attempt to influence legislation, influence of any public election or voter registration drive or promotion of terrorist activities, as well as compliance with certain environmental, social and governance requirements and anti-corruption requirements. If the Company does not maintain compliance with these non-financial covenants, Adjuvant may be entitled to repayment for any portion of its investment that is not used for the purposes outlined in the Global Health Agreement. As of December 31, 2020, the $ 5.0 million aggregate proceeds from Adjuvant’s Series A investment have been fully utilized to support the epetraborole development program, which overlaps with the melioidosis development activities for the global health programs. In conjunction with Adjuvant’s investment in the Company’s Series B redeemable convertible preferred stock financing in March 2021, the Company entered into an Amended and Restated Global Health Agreement (the “Adjuvant Amendment”). The Adjuvant Amendment expands Adjuvant’s investment support to include the development of the Company’s product candidate, epetraborole, for use in tuberculosis-endemic and tuberculosis-at-risk countries as defined in the agreement. Adjuvant purchased 466,663 shares of the Company’s Series B redeemable convertible preferred stock in 2021 for a total investment of $ 7.0 million, which is subject to Adjuvant’s right of repayment should the Company not utilize the proceeds from Adjuvant’s investment towards the agreed-upon purpose. As of March 31, 2022, the $ 7.0 million proceeds from Adjuvant’s Series B investment have been fully utilized to support the epetraborole development program, which overlaps with the melioidosis and other global health development programs. In connection with Adjuvant’s investment in the Company’s Common Stock as part of the IPO, the Company entered into an Amended and Restated Global Health Agreement dated March 24, 2022 (the “2022 Adjuvant Amendment”). As part of the Adjuvant IPO Amendment, Adjuvant purchased 166,666 shares of the Company's Common Stock in March 2022 for a total additional investment of $ 2.5 million, which is subject to Adjuvant’s right of repayment should the Company not utilize the proceeds from Adjuvant’s investment towards the agreed-upon purpose. The Company has complied with all applicable covenants as of March 31, 2022. As of March 31, 2022, the Company has not utilized the proceeds from Adjuvant's IPO investment.

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Equity	Note 8 . Equity Common Stock The Company’s certificate of incorporation, as amended, authorizes the Company to issue 500,000,000 shares of $ 0.00001 par value common stock. Holders of common stock are entitled to one vote per share on all matters to be voted upon by the stockholders of the Company. Subject to the preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to receive ratably such dividends, if any, as may be declared by the Board of Directors. No dividends have been declared to date. Common shares reserved for future issuance, on an as-if-converted basis, as of March 31, 2022 and December 31, 2021, consists of the following: March 31, 2022 December 31, 2021 Series A redeemable convertible preferred stock — 6,076,196 Series B redeemable convertible preferred stock — 5,333,292 Stock options, issued and outstanding 1,637,488 1,589,120 Stock options, authorized for future issuance 2,786,433 937,673 Total 4,423,921 13,936,281 Redeemable Convertible Preferred Stock Immediately prior to the closing of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock converted into 11,409,488 shares of common stock and the related carrying value was reclassified to common stock and additional paid-in capital. There were no shares of redeemable convertible preferred stock outstanding as of March 31, 2022. At December 31, 2021, redeemable convertible preferred stock consisted of the following (in thousands, except share and per share amounts): Shares Shares Issued Issuance Carrying Liquidation Series A 6,076,228 6,076,196 $ 2.55 $ 24,308 $ 17,787 Series B 5,333,308 5,333,292 $ 15.00 85,011 85,277 11,409,536 11,409,488 $ 109,319 $ 103,064

Equity Incentive Plan and Stock

Equity Incentive Plan and Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Equity Incentive Plan and Stock-Based Compensation	Note 9 . Equity Incentive Plan and Stock-Based Compensation 2022 Equity Incentive Plan The Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”) effective upon the closing of the IPO, which provides for the granting of incentive stock options (“ISOs”) to the Company's employees, and for the grant of nonstatutory stock options (“NSOs”), stock appreciation rights, restricted stock awards, restricted stock unit awards, performance awards, and other forms of awards to employees, directors, and consultants. The Company initially reserved for issuance 1,870,000 new shares of common stock pursuant to the 2022 Plan. The Company’s 2017 Equity Incentive Plan (the “2017 Plan”) was terminated in 2022; however, shares underlying outstanding stock awards granted under the 2017 Plan will continue to be governed by the 2017 Plan. Shares underlying outstanding stock awards granted under the 2017 Plan were added to the available shares in the 2022 plan. Shares underlying outstanding stock awards granted under the 2017 Plan that expire or are repurchased by, forfeited to, cancelled or withheld by the Company will also be reserved for issuance under the 2022 Plan. The maximum number of shares of the Company’s common stock that may be issued under the 2022 Plan will not exceed 4,423,920 shares of the Company's common stock, which is the sum of (i) 1,870,000 new shares, plus (ii) 2,553,920 shares related to the 2017 Plan. In addition, the number of shares of the Company’s common stock reserved for issuance under the 2022 Plan will automatically increase on January 1 of each year for a period of ten years , beginning on January 1, 2023 and continuing through January 1, 2032, in an amount equal to (1) 4 % of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year, or (2) a lesser number of shares determined by the Company's board of directors no later than December 31 of the immediately preceding year. The maximum number of shares of the Company's common stock that may be issued on the exercise of ISOs under the 2022 Plan is 13,271,760 shares. Since the date of incorporation and through March 31, 2022, the Company issued stock options to its employees, directors and consultants. As of March 31, 2022, 2,786,433 shares of common stock remained available for future issuance under the 2022 Plan. ISOs granted under the 2022 Plan generally vest 25 % after the completion of 12 months of service, and the balance vests in equal monthly installments over the next 36 months of service and expire ten years from the grant date, unless subject to provisions regarding 10% stockholders. NSOs vest in accordance with the terms of the specific agreement under which the options were provided and expire ten years from the date of grant. Stock-Based Compensation Expense The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed statements of operations and comprehensive loss during the three months ended March 31, 2022 and 2021 (in thousands): Three Months Ended March 31, 2022 2021 Research and development expenses $ 208 $ 6 General and administrative expenses 241 2 Total $ 449 $ 8 Stock Option Plan Activity A summary of the stock plan activity is as follows: Total Options Outstanding Weighted-Average Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2021 1,589,120 $ 5.95 9.27 $ 5,482 Granted 74,233 9.31 Forfeited ( 25,865 ) 6.60 Outstanding at March 31, 2022 1,637,488 $ 6.09 9.03 $ 14,704 Exercisable as of March 31, 2022 450,581 $ 2.81 8.31 $ 5,523 As of March 31, 2022, there was unrecognized share-based compensation expense of $ 5.7 million related to unvested share options which the Company expects to recognize over a weighted-average period of 3.0 years. The total fair value of shares vested during the three months ended March 31, 2022 was $ 0.2 million. Weighted-average grant-date fair value of the options granted during the three months ended March 31, 2022 was $ 6.41 per share. No options were exercised during the three months ended March 31, 2022. Liability for Early Exercise of Stock Options The Company's 2017 Plan permitted early exercise of certain stock options prior to vesting to certain directors, officers, and employees. Any shares issued pursuant to unvested options are restricted and subject to repurchase by the Company until the conditions for vesting are met. The amounts paid for shares purchased under an early exercise of stock options and subject to repurchase by the Company are reported as options subject to repurchase, short and long-term on the balance sheet and is reclassified to common stock and additional paid-in capital as such shares vest. Upon termination of employment of an option holder, the Company has the right to repurchase, at the original purchase price, any unvested options. The shares issued pursuant to unvested options have been included in shares issued and outstanding on the condensed balance sheets and condensed statement of stockholders’ equity (deficit) as such shares are not considered outstanding for accounting purposes. As of March 31, 2022, there were 36,833 unvested common shares outstanding that were issued upon the early exercise of stock options prior to the vesting of the underlying shares which are subject to repurchase by the Company at the original issuance price upon termination of the stockholders’ services. The right to repurchase these shares generally lapses with respect to 25 % of the shares underlying the option after one year of service to the Company and 1/48 of the shares underlying the original grant per month for 36 months thereafter. The shares purchased by the optionholders pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be issued until those shares vest. As of March 31, 2022, the Company recorded an insignificant amount of liabilities associated with the cash received for shares issued subject to repurchase rights, recorded within the options subject to repurchase, short-term, and options subject to repurchase, long-term on the company's condensed balance sheets.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss per share	Note 10 . Net Loss Per Share The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except for per share amounts): Three Months Ended March 31, 2022 2021 Numerator: Net loss $ ( 7,655 ) $ ( 2,048 ) Add accretion to redemption value and cumulative ( 1,820 ) ( 761 ) Net loss attributable to common stockholders $ ( 9,475 ) $ ( 2,809 ) Denominator: Weighted-average common shares outstanding used 3,180,717 2,620,670 Net loss per share attributable to common $ ( 2.98 ) $ ( 1.07 ) Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: March 31, 2022 2021 Series A redeemable convertible preferred stock — 6,076,196 Series B redeemable convertible preferred stock — 5,333,292 Options issued and outstanding 1,637,488 276,794 Early exercised common stock subject to future vesting 36,833 101,169 Total 1,674,321 11,787,451

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 11. Related Party Transactions In the three months ended March 31, 2022, the Company paid a $ 0.5 million development milestone payment to Anacor that was recognized as expense in 2021. At December 31, 2021, this amount was included as accrued expenses in the accompanying balance sheet. In connection with Adjuvant’s investment in the Company’s Common Stock as part of the IPO, the Company entered into the Adjuvant IPO Amendment. As part of the Adjuvant IPO Amendment, Adjuvant purchased 166,666 shares of the Company's Common Stock in 2022 for a total additional investment of $ 2.5 million, which is subject to Adjuvant’s right of repayment should the Company not utilize the proceeds from Adjuvant’s investment towards the agreed-upon purpose (see Note 7—Commitments and Contingencies ).

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events On April 8, 2022, the underwriters from the IPO exercised an option to purchase 690,000 shares at a public offering price of $ 15.00 per share, resulting in additional gross proceeds to the Company of $ 10.4 million, and additional net proceeds of approximately $ 9.6 million in the IPO. After giving effect to this exercise of the overallotment option, the total number of shares sold by the Company in the IPO increased to 5,290,000 shares with total net proceeds of approximately $ 70.5 million.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”).
Unaudited Interim Condensed Financial Information	Unaudited Interim Condensed Financial Information The accompanying condensed balance sheets as of March 31, 2022, the condensed statements of operations and comprehensive loss, the condensed statements of redeemable convertible preferred stock and stockholders’ equity (deficit) and condensed statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited. The unaudited interim condensed financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2022 and the results of its operations and its cash flows for the three months ended March 31, 2022 and 2021. The financial data and other information disclosed in these notes related to the three months ended March 31, 2022 and 2021 are also unaudited. The results for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period. The balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. Certain disclosures have been condensed or omitted from the interim condensed financial statements. These unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements included in the prospectus filed with the U.S. Securities and Exchange Commission (“SEC”), dated March 24, 2022.
Risks and Uncertainties	Risks and Uncertainties Liquidity Prior to the Company’s IPO in March 2022, the Company’s operations have historically been financed through the issuance of redeemable convertible preferred stock. Since inception, the Company has incurred significant losses and negative net cash flows from operations. During the three months ended March 31, 2022 and 2021, the Company incurred a net loss of $ 7.7 million and $ 2.0 million, respectively and had cash flows used in operating activities of $ 6.7 million and $ 1.5 million, respectively. The Company has an accumulated deficit as of March 31, 2022 and December 31, 2021 of $ 56.4 million and $ 47.4 million, respectively, and will require substantial additional capital for research and development activities. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its product candidate currently in development. As of March 31, 2022, the Company had cash, cash equivalents and investments of $ 118.4 million. Management believes that its cash, cash equivalents and investments as of March 31, 2022 will be sufficient to fund its current operating plan through at least 12 months from the issuance date of these condensed financial statements. Future capital requirements will depend on many factors, including the timing and extent of spending on research and development, including costs for preclinical and nonclinical studies, clinical trials and clinical trial material manufacturing. There can be no assurance that, in the event the Company requires additional financing, such financing will be available at terms acceptable to the Company if at all. Failure to generate sufficient cash flows from operations, raise additional capital, and reduce discretionary spending should additional capital not become available could have a material adverse effect on the Company’s ability to achieve its intended business objectives. Other Risks and Uncertainties The Company is subject to a number of risks similar to those of other clinical-stage biopharmaceutical companies, including, but not limited to: dependence on key individuals, the need to develop commercially viable therapeutics, competition from other companies, many of which are larger and better capitalized, protection of intellectual property rights, litigation or claims against the Company based on intellectual property rights, regulatory clearance, market acceptance of the Company’s products and the need to obtain adequate additional financing to fund the development of its products. In March 2020, the World Health Organization declared the global novel coronavirus disease (“COVID-19”) outbreak a pandemic. To date, the Company’s business has not been materially impacted by the COVID-19 pandemic. However, the Company has experienced certain slowing of its preclinical and clinical trials and cannot at this time predict the specific extent, duration, or full impact that the COVID-19 pandemic will have on its financial condition and operations, including ongoing and planned preclinical and nonclinical studies, clinical trials and clinical trial material manufacturing. The impact of the COVID-19 pandemic on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related governmental advisories and restrictions. These developments and the impact of COVID-19 on the financial markets and the overall economy are highly uncertain. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s results may be adversely affected. In February 2022, Russia commenced a military invasion of Ukraine. The ongoing geopolitical turmoil and continuing military action in the region, together with widening sanctions imposed on Russia, have caused disruptions in the global economy, related to trade and shipping, and increased costs of transportation, as well as potentially affecting the availability of European clinical sites. The duration and impact of the conflict between Russia and Ukraine is highly unpredictable and the extent to which the conflict may impact certain of the Company's clinical development and regulatory efforts remains uncertain. While the Company does not currently conduct any trials in Russia or Ukraine that are impacted by the present conflict, any disruptions or increased costs related to the shipping of supplies and drug necessary to conduct the Company's trials, as well as the continued availability of European clinical sites, could negatively impact the Company's liquidity and cash flows.
Segments	Segments The Company operates and manages its business as one reportable and operating segment. The Company’s chief executive officer, who is the chief operating decision maker, reviews financial information on a company-wide basis for purposes of allocating resources and assessing financial performance.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to research and development accruals, fair value of assets and liabilities and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.
Stock Split	Stock Split On March 17, 2022, the Board of Directors and stockholders approved, and, on March 18, 2022, the Company filed, an amended and restated certificate of incorporation effecting a 2.352936 -for-1 forward stock split of common stock and all redeemable convertible preferred stock. The par value of the common and redeemable convertible preferred stock was not adjusted as a result of the stock split. All authorized, issued and outstanding common stock, redeemable convertible preferred stock, stock options and per share amounts contained in the financial statements have been retroactively adjusted to reflect this stock split for all periods presented.
Deferred Offering Costs	Deferred Offering Costs The Company capitalizes certain legal, accounting and other third-party fees that are directly related to the Company’s equity financings, including its IPO, until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction of the proceeds received as a result of the financing. The Company capitalized certain legal, accounting and other third-party fees that were directly related to the Company’s IPO. After the completion of the IPO in March 2022, the total deferred offering costs of $ 3.3 million were offset against the proceeds from the IPO and reclassified to additional paid-in capital in the accompanying condensed balance sheets. At December 31, 2021, deferred offering costs totaling $ 1.7 million were included as non-current assets in the accompanying balance sheet.
Research and Development Expenses	Research and Development Expenses All research and development costs, including work performed by third parties, are expensed as incurred. Research and development costs consist of salaries and other personnel-related expenses, including associated stock-based compensation, consulting fees, and facility costs, as well as fees paid to other entities that conduct certain research and development activities on behalf of the Company. Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods are received or services are rendered. As part of the process of preparing its financial statements, the Company estimates its accrued expenses. This process involves reviewing quotations and contracts, identifying services that have been performed on the Company’s behalf and estimating the level of services performed and the associated cost incurred for services for which the Company has not yet been invoiced or otherwise notified of the actual cost. The majority of the Company’s service providers invoice monthly in arrears for services performed or when contractual milestones are met. The Company makes estimates of its accrued expenses at the end of each reporting period based on the facts and circumstances known to the Company at that time. The significant estimates in the Company’s accrued research and development expenses relate to expenses incurred with respect to contract manufacturing and research organizations, academic research centers and other vendors in connection with research and development activities for which the Company has not yet been invoiced.
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock The Company recorded the redeemable convertible preferred stock at fair value on the dates of issuance, net of issuance costs. The carrying value of the redeemable convertible preferred stock was accreted to its redemption value. Immediately prior to the closing of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock were converted into shares of common stock and the related carrying value was reclassified to common stock and additional paid-in capital. There were no shares of redeemable convertible preferred stock outstanding as of March 31, 2022.
Stock-Based Compensation	Stock-Based Compensation The Company measures and recognizes compensation expense for equity-classified stock-based awards made to employees, directors and non-employees based on the grant date estimated fair value of each award. Compensation expense for employee and director awards is recognized on a straight- line basis over the requisite service period which is generally the vesting period for the entire award. Expense is adjusted for forfeitures as they occur. Compensation expense for non-employee awards is recognized in the same period and manner as if the Company had paid cash for the goods or services provided. The valuation model used for calculating the fair value of stock options for stock compensation expense is the Black-Scholes option-pricing model (the Black-Scholes model). The Black-Scholes model requires management to make assumptions and judgments about the variables used in the calculation, including the expected term, the expected volatility of common stock, an assumed risk-free interest rate, and expected dividends the Company may pay. Management elected to apply the practical expedient for private companies and used the simplified method to determine the awards’ expected term. Volatility is based on an average of the historical volatilities of the common stock of entities with characteristics similar to the Company’s. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company uses an assumed dividend yield of zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. For awards that contain performance conditions, compensation cost is recognized in the period in which it becomes probable that the performance condition will be satisfied. The grant date fair value of these awards is equal to the fair value of the underlying shares as determined by the price other investors paid for such shares in recent transactions. For awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense would be recognized until the performance-based vesting condition is achieved.
Fair Value of Common Stock	Fair Value of Common Stock Prior to the Company's IPO, the absence of an active market for the Company’s common stock required the Company’s board of directors to determine the fair value of its common stock for purposes of granting stock options. The fair value of the Company’s common stock was determined by the Company’s board of directors with assistance from management and an independent third-party valuation firm. Management’s approach to estimating the fair value of the Company’s common stock was consistent with the methods outlined in the American Institute of Certified Public Accountants’ Practice Aid, Valuation of Privately-Held- Company Equity Securities Issued as Compensation . Determining the best estimated fair value of the Company’s common stock requires significant judgement and management considers several factors, including the Company’s stage of development, equity market conditions affecting comparable public companies, significant milestones and progress in research and development efforts. Following the completion of its IPO, the Company uses its stock price traded on the Nasdaq Global Select Market to determine its fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which consist of money market funds, corporate debt securities and corporate commercial paper, are stated at fair value. As of March 31, 2022 and December 31, 2021, the Company had cash equivalents of $ 82.5 million and $ 12.1 million, respectively.
Investments	Investments Investments consist of U.S. Treasuries, asset-backed securities, corporate debt securities and corporate commercial paper. All of the Company’s investments are classified as available-for-sale and are carried at estimated fair values and reported in cash equivalents, short-term investments or long- term investments. Management determines the appropriate classification of the investments at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. Investments with contractual maturities greater than 12 months are considered long-term investments. Unrealized gains and losses on available-for-sale investments are reported in accumulated other comprehensive gain (loss) as a separate component of stockholders’ equity (deficit). Investments are regularly reviewed for other-than-temporary declines in fair value. The review includes consideration of the cause of impairment, including the creditworthiness of the security issuers, the number of investments in an unrealized loss position, the severity and duration of the unrealized losses, and whether it is more likely than not that the Company will be required to sell the investments before the recovery of their amortized cost basis. The cost of investments sold, if any, is based on the specific identification method. To date, the Company has not recorded any impairment charges on its investments related to other-than-temporary declines in market value. As of March 31, 2022 and December 31, 2021, the Company had investments of $ 35.8 million and $ 49.9 million, respectively.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and investments. The Company’s cash is invested through financial institutions in the United States. The Company’s investments consist of debt securities, issued by highly rated corporate entities or the U.S. government, and asset-backed securities. The Company’s exposure to any individual corporate entity is limited by its investment policy. Deposits may at times, exceed federally insured limits, but minimal credit risk exists. The Company invests its cash equivalents in highly rated money market funds. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company is exposed to credit risk in the event of a default by the financial institution holding its cash to the extent recorded on the condensed balance sheets. Through March 31, 2022, the Company has no off-balance sheet concentrations of credit risk.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss and certain changes in stockholders’ equity (deficit) that are excluded from net loss. The Company’s other comprehensive loss consists of net changes in unrealized gains and losses on its available-for-sale investments. For the three months ended March 31, 2022 the Company had $ 0.1 million of net unrealized loss on available-for-sale investments, and no net unrealized gain or loss on available-for-sale investments for the three months ending March 31, 2021.
Net Loss Per Share	Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, redeemable convertible preferred stock, stock options, common stock subject to repurchase related to unvested early exercise of stock options are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities as the redeemable convertible preferred stock is considered a participating security because it participates in dividends with common stock. The Company also considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of all series of redeemable convertible preferred stock and the holders of early exercised shares subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Because the Company has reported a net loss for all periods presented, diluted net loss per share is the same as basic net loss per share for those periods because the impact of potentially dilutive securities would be anti-dilutive.
JOBS Act Accounting Election	JOBS Act Accounting Election The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”). ASU 2018-11 provided an alternative method in addition to the modified retrospective transition method for ASU No. 2016-02, Leases: Amendments to the FASB Accounting Standards Codification (“ASU 2016-02”), issued in February 2016. Under ASU 2018-11, an entity may elect to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under ASU 2016-02, a lease is required to recognize assets and liabilities with lease terms of more than twelve months. ASU 2016-02 is effective for nonpublic business entities and public entities eligible to be Smaller Reporting Companies for fiscal years beginning after December 15, 2021. The Company adopted the new standard on January 1, 2022 using the modified retrospective approach. The Company has elected to apply the transition method that allows companies to continue applying the guidance under the lease standard in effect at that time in the comparative periods presented in the condensed financial statements and recognize a cumulative-effect adjustment to the opening balance of accumulated deficit on the date of adoption. The Company has elected to combine lease components (for example fixed rent payments) with non-lease components (for example, common-area maintenance costs) on its facility and CRO embedded lease asset classes. The Company also elected the “package of practical expedients”, which permits the Company not to reassess under the new standard the Company’s prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the short-term lease practical expedients allowed under the standard. Lastly, the Company did not elect the practical expedient allowing the use-of-hindsight which would require the Company to reassess the lease term of its leases based on all facts and circumstances through the effective date. Results for reporting period beginning after January 1, 2022 are presented under the new standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. Upon adoption of the new lease standard, on January 1, 2022, the Company capitalized operating lease right-of-use (ROU) assets of $ 0.05 million and $ 0.05 million of operating lease liabilities, within the condensed balance sheets upon adoption.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted Since the Company's IPO, it has been the Company’s intention to take advantage of certain temporary exemptions from various reporting requirements and the Company is taking advantage of additional transitional relief available to emerging growth companies. The Company may take advantage of these provisions for up to five years (which should be through March 2027), unless the Company ceases to be an emerging growth company at an earlier date. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842): Effective Dates, which defers the effective date of ASU 2016-13 to fiscal years beginning after December 15, 2022 for SEC reporting companies that are smaller reporting companies such as the Company. The Company is currently evaluating the impact of the adoption of ASU 2016-13 on its financial statements, and will consider the extended transition period available to “emerging growth" companies.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Financial Assets Fair Value Measurement on Recurring Basis	The following table presents the Company’s financial assets, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis (in thousands): March 31, 2022 Level Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents: Money market funds Level 1 $ 67,572 $ — $ — $ 67,572 Commercial paper Level 2 5,493 — ( 1 ) 5,492 Short-term investments: U.S. treasury securities Level 1 7,995 — ( 79 ) 7,916 Commercial paper Level 2 24,980 — ( 65 ) 24,915 Asset-backed securities Level 2 3,019 — ( 13 ) 3,006 Total $ 109,059 $ — $ ( 158 ) $ 108,901 December 31, 2021 Level Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash equivalents: Money market funds Level 1 $ 3,567 $ — $ — $ 3,567 Commercial paper Level 2 2,999 — — 2,999 Corporate debt securities Level 2 1,501 — — 1,501 Short-term investments: U.S. treasury securities Level 1 4,500 — ( 11 ) 4,489 Commercial paper Level 2 33,716 4 ( 5 ) 33,715 Asset-backed securities Level 2 8,261 — ( 7 ) 8,254 Long-term investments: U.S. treasury securities Level 1 3,494 — ( 8 ) 3,486 Total $ 58,038 $ 4 $ ( 31 ) $ 58,011

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Summary of Maturities of Lease Liabilities	The following table summarizes maturities of lease liabilities and the reconciliation of lease liabilities as of March 31, 2022 (in thousands): Operating Leases 2022 (remaining nine months) $ 32 2023 and thereafter — Total future undiscounted lease payments 32 Less: Imputed interest — Total Lease Liabilities $ 32
Summary of Total Lease Expense	The following table summarizes total lease expense during the three months ended March 31, 2022 (in thousands): Condensed Statements of Operations and Comprehensive Loss Classification Three Months Ended March 31, 2022 Operating lease expense Operating expenses $ 19 Short-term lease expense Operating expenses 18 Variable lease expense Operating expenses — Total lease expense $ 37

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Accrued liabilities consist of the following (in thousands): March 31, 2022 December 31, 2021 Accrued research and development-related expenses $ 917 $ 495 Accrued research and development-related expenses- — 500 Accrued offering costs 1,151 313 Other 33 91 Total accrued liabilities $ 2,101 $ 1,399

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule Of Common Stock Shares Reserved For Future Issuance	Common shares reserved for future issuance, on an as-if-converted basis, as of March 31, 2022 and December 31, 2021, consists of the following: March 31, 2022 December 31, 2021 Series A redeemable convertible preferred stock — 6,076,196 Series B redeemable convertible preferred stock — 5,333,292 Stock options, issued and outstanding 1,637,488 1,589,120 Stock options, authorized for future issuance 2,786,433 937,673 Total 4,423,921 13,936,281
Schedule of Redeemable Convertible Preferred Stock	At December 31, 2021, redeemable convertible preferred stock consisted of the following (in thousands, except share and per share amounts): Shares Shares Issued Issuance Carrying Liquidation Series A 6,076,228 6,076,196 $ 2.55 $ 24,308 $ 17,787 Series B 5,333,308 5,333,292 $ 15.00 85,011 85,277 11,409,536 11,409,488 $ 109,319 $ 103,064

Equity Incentive Plan and Sto_2

Equity Incentive Plan and Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Total Stock-Based Compensation	The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed statements of operations and comprehensive loss during the three months ended March 31, 2022 and 2021 (in thousands): Three Months Ended March 31, 2022 2021 Research and development expenses $ 208 $ 6 General and administrative expenses 241 2 Total $ 449 $ 8
Summary of Stock Plan Activity	A summary of the stock plan activity is as follows: Total Options Outstanding Weighted-Average Weighted-Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2021 1,589,120 $ 5.95 9.27 $ 5,482 Granted 74,233 9.31 Forfeited ( 25,865 ) 6.60 Outstanding at March 31, 2022 1,637,488 $ 6.09 9.03 $ 14,704 Exercisable as of March 31, 2022 450,581 $ 2.81 8.31 $ 5,523

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of computation of 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 for per share amounts): Three Months Ended March 31, 2022 2021 Numerator: Net loss $ ( 7,655 ) $ ( 2,048 ) Add accretion to redemption value and cumulative ( 1,820 ) ( 761 ) Net loss attributable to common stockholders $ ( 9,475 ) $ ( 2,809 ) Denominator: Weighted-average common shares outstanding used 3,180,717 2,620,670 Net loss per share attributable to common $ ( 2.98 ) $ ( 1.07 )
Schedule of potentially dilutive securities that were not included in the diluted per share	Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: March 31, 2022 2021 Series A redeemable convertible preferred stock — 6,076,196 Series B redeemable convertible preferred stock — 5,333,292 Options issued and outstanding 1,637,488 276,794 Early exercised common stock subject to future vesting 36,833 101,169 Total 1,674,321 11,787,451

Organization and Description _2

Organization and Description of Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 28, 2022	Mar. 24, 2022	Mar. 31, 2022
Subsidiary, Sale of Stock [Line Items]
Net proceeds from offering			$ 63,198
Common Stock
Subsidiary, Sale of Stock [Line Items]
Aggregate number of shares issued			4,600,000
Initial Public Offering | Common Stock
Subsidiary, Sale of Stock [Line Items]
Aggregate number of shares issued		4,600,000
Stock issued, price per share		$ 15
Shares converted	11,409,488	11,409,488
Aggregate offering price for shares sold		$ 69,000
Underwriting discounts and commissions		4,800
Offering Costs		3,300
Net proceeds from offering		$ 60,900

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	Mar. 18, 2022	Mar. 31, 2022USD ($)Segmentshares	Mar. 31, 2021USD ($)	Jan. 01, 2022USD ($)	Dec. 31, 2021USD ($)shares
Accounting Policies [Line Items]
Net loss		$ (7,655,000)	$ (2,048,000)
Cash flows used in operating activities		(6,742,000)	(1,543,000)
Accumulated deficit		(56,422,000)			$ (47,384,000)
Cash and cash equivalents and investments		$ 118,400,000
Operating plan issuance date		12 months
Number of operating segments | Segment		1
Number of reportable Segments | Segment		1
Stockholders' equity forward stock split, conversion ratio	2.352936
Stockholders' equity forward stock split		a 2.352936-for-1 forward stock split of common stock and all redeemable convertible preferred stock.
Deferred offering costs		$ 3,300,000			$ 1,700,000
Convertible preferred stock outstanding | shares		0			11,409,488
Assumed dividend yield		$ 0
Share-based payment arrangement expense		449,000	8,000
Cash equivalents		82,500,000			$ 12,100,000
Investments		35,800,000	0		49,900,000
Net unrealized gain (loss) on available-for-sale investments		(100,000)	0
Operating lease right-of-use assets				$ 50,000
Operating lease liabilities		$ 32,000		$ 50,000
ASU 2018-11
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 1, 2022
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Initial Public Offering
Accounting Policies [Line Items]
Net loss		$ 7,700,000	2,000,000
Cash flows used in operating activities		6,700,000	$ 1,500,000
Accumulated deficit		$ 56,400,000			$ 47,400,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Fair Value Measurement on Recurring Basis (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated Fair Value	$ 0		$ 0
Fair Value Measurements Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	109,059,000	$ 58,038,000
Unrealized Gain		4,000
Unrealized Loss	(158,000)	(31,000)
Estimated Fair Value	108,901,000	58,011,000
Fair Value Measurements Recurring | Cash and cash Equivalents | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	67,572,000	3,567,000
Estimated Fair Value	67,572,000	3,567,000
Fair Value Measurements Recurring | Cash and cash Equivalents | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	5,493,000	2,999,000
Unrealized Loss	(1,000)
Estimated Fair Value	5,492,000	2,999,000
Fair Value Measurements Recurring | Cash and cash Equivalents | Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost		1,501,000
Estimated Fair Value		1,501,000
Fair Value Measurements Recurring | Short-term investments | Level 1 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	7,995,000	4,500,000
Unrealized Loss	(79,000)	(11,000)
Estimated Fair Value	7,916,000	4,489,000
Fair Value Measurements Recurring | Short-term investments | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	24,980,000	33,716,000
Unrealized Gain		4,000
Unrealized Loss	(65,000)	(5,000)
Estimated Fair Value	24,915,000	33,715,000
Fair Value Measurements Recurring | Short-term investments | Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	3,019,000	8,261,000
Unrealized Loss	(13,000)	(7,000)
Estimated Fair Value	$ 3,006,000	8,254,000
Fair Value Measurements Recurring | Long-term investments | Level 1 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost		3,494,000
Unrealized Loss		(8,000)
Estimated Fair Value		$ 3,486,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022USD ($)Security	Dec. 31, 2021USD ($)	Mar. 31, 2021USD ($)
Fair Value Disclosures [Abstract]
Other-than-temporary impairment losses recognized	$ 0
Investments	35,800,000	$ 49,900,000	$ 0
Transfer of level 1 to level 2	0
Transfer of level 2 to level 1	$ 0
Debt securities unrealized loss position, more than12 months number of positions | Security	0
Debt securities, available-for-sale investments	$ 0		$ 0

Collaboration and License Agr_2

Collaboration and License Agreements - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2019	Mar. 31, 2022	Mar. 31, 2021
Collaboration And License Agreements [Line Items]
Stock issued during period, value, new issues		$ 60,836,000
Research and development		5,633,000	$ 1,649,000
Anacor Licensing Agreement
Collaboration And License Agreements [Line Items]
Number of days convenience upon written notice until first regulatory approval.	90 days
Number of days convenience upon written notice thereafter	1 year
Payment of non-refundable upfront payment	$ 2,000,000
Research and development		$ 0	$ 0
Aggregate maximum payments upon achievement of development milestones	2,000,000
Aggregate maximum payments upon achievement of commercial and sales threshold milestones	$ 125,000,000
Royalty percentage	50.00%
Number of years, sales royalty required to be paid	15 years
Anacor Licensing Agreement | Series A Redeemable Convertible Preferred Stock
Collaboration And License Agreements [Line Items]
Aggregate granted shares	1,362,499
Fair value of shares per share	$ 2.46
Stock issued during period, value, new issues	$ 3,400,000
Shares granted per share price paid	$ 2.55
Fair value of consideration	$ 5,400,000
Brii Biosciences Agreement
Collaboration And License Agreements [Line Items]
Aggregate maximum payments upon achievement of commercial and sales threshold milestones	$ 150,000,000
Number of years, sales royalty required to be paid	15 years
Upfront payment received	$ 0
Brii Biosciences Agreement | Maximum
Collaboration And License Agreements [Line Items]
Aggregate development and regulatory milestones eligible to receive	$ 15,000,000

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Lessee, Lease, Description [Line Items]
Option to extend	lease was amended to extend the term to expire in August 2022
Operating lease extended expiration date	2022-08
Operating lease renewal term	12 months
Operating lease renewal option period	2023-08
Operating cash flows from operating leases	$ 20
Weighted-average remaining lease term	5 months 1 day
weighted-average remaining discounted rate	8.00%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jan. 01, 2022
Leases [Abstract]
Operating Leases, 2022 (remaining nine months)	$ 32
Operating Leases, Total future undiscounted lease payments	32
Operating Leases Less: Imputed interest	0
Operating Leases, Total Lease Liabilities	$ 32	$ 50

Leases - Summary of Total Lease

Leases - Summary of Total Lease Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Leases [Abstract]
Operating lease expense	$ 19
Short-term lease expense	18
Total lease expense	$ 37

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued research and development-related expenses	$ 917	$ 495
Accrued research and development-related expenses- related party		500
Accrued offering costs	1,151	313
Other	33	91
Total accrued liabilities	$ 2,101	$ 1,399

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Proceeds from redeemable convertible preferred stock			$ 79,734
Redeemable convertible preferred stock, shares issued				11,409,488
Common stock, shares issued		18,712,658		2,730,298
Series A Redeemable Convertible Preferred Stock
Commitments And Contingencies [Line Items]
Redeemable convertible preferred stock, shares issued				6,076,196
Series B Redeemable Convertible Preferred Stock
Commitments And Contingencies [Line Items]
Redeemable convertible preferred stock, shares issued				5,333,292
Adjuvant Global Health Agreement
Commitments And Contingencies [Line Items]
Proceeds from redeemable convertible preferred stock	$ 5,000			$ 7,000
Adjuvant Global Health Agreement | Series A Redeemable Convertible Preferred Stock
Commitments And Contingencies [Line Items]
Redeemable convertible preferred stock, purchased					1,964,051	1,964,051
Proceeds from redeemable convertible preferred stock					$ 5,000	$ 5,000
Long term purchase commitment period		10 years
Adjuvant Global Health Agreement | Series B Redeemable Convertible Preferred Stock
Commitments And Contingencies [Line Items]
Proceeds from redeemable convertible preferred stock				$ 7,000
Redeemable convertible preferred stock, shares issued				466,663
Initial Public Offering | Adjuvant Global Health Agreement
Commitments And Contingencies [Line Items]
Common stock, shares issued		166,666
Total additional investment		$ 2,500

Equity - Common Shares Reserved

Equity - Common Shares Reserved for Future Issuance (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	4,423,921	13,936,281
Stock Options Issued And Outstanding
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	1,637,488	1,589,120
Stock Options Authorized For Future Issuance
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	2,786,433	937,673
Series A Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	0	6,076,196
Series B Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	0	5,333,292

Equity - Additional Information

Equity - Additional Information (Details) - $ / shares	Mar. 28, 2022	Mar. 24, 2022	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized			500,000,000	17,166,642
Common stock, par value			$ 0.00001	$ 0.00001
Common Stock, Voting Rights			one
Convertible preferred stock outstanding			0	11,409,488
Initial Public Offering | Common Stock
Class of Stock [Line Items]
Shares converted	11,409,488	11,409,488

Equity - Schedule of Redeemable

Equity - Schedule of Redeemable Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Temporary Equity [Line Items]
Shares authorized		11,409,536
Shares issued		11,409,488
Shares outstanding	0	11,409,488
Carrying Value		$ 109,319
Liquidation preference		$ 103,064
Series A
Temporary Equity [Line Items]
Shares authorized		6,076,228
Shares issued		6,076,196
Shares outstanding		6,076,196
Issuance price per share		$ 2.55
Carrying Value		$ 24,308
Liquidation preference		$ 17,787
Series B
Temporary Equity [Line Items]
Shares authorized		5,333,308
Shares issued		5,333,292
Shares outstanding		5,333,292
Issuance price per share		$ 15
Carrying Value		$ 85,011
Liquidation preference		$ 85,277

Equity Incentive Plan and Sto_3

Equity Incentive Plan and Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares	Dec. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	4,423,921	13,936,281
Weighted average grant-date fair value, options granted | $ / shares	$ 6.41
Unrecognized share-based compensation expense related to unvested share options | $	$ 5.7
Unrecognized share-based compensation expense expects to recognize over a weighted-average period	3 years
Total fair value of shares vested | $	$ 0.2
Options exercised	0
Unvested common shares outstanding were issued upon early exercise of stock options	36,833
Rights to repurchase shares, description	The right to repurchase these shares generally lapses with respect to 25% of the shares underlying the option after one year of service to the Company and 1/48 of the shares underlying the original grant per month for 36 months thereafter.
After Completion of 12 months of Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Rights to repurchase shares, service period	1 year
Over 36 months of Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Rights to repurchase shares, vesting ratio	0.020
2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	2,553,920
2022 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	1,870,000
Maximum number of shares of common stock that may be issued	4,423,920
Shares of common stock remained available for future issuance	2,786,433
Percentage of annual increase in shares reserved for future issuance on common stock outstanding.	4.00%
Award contractual life (in years)	10 years
2022 Equity Incentive Plan | Incentive Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	36 months
2022 Equity Incentive Plan | Incentive Stock Option | After Completion of 12 months of Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
2022 Equity Incentive Plan | Incentive Stock Option | Over 36 months of Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual life (in years)	10 years
2022 Equity Incentive Plan | Incentive Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be issued	13,271,760
2022 Equity Incentive Plan | Non-Statutory Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual life (in years)	10 years

Equity Incentive Plan and Sto_4

Equity Incentive Plan and Stock-Based Compensation - Summary of Total Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 449	$ 8
Research and Development Expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	208	6
General and Administrative Expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 241	$ 2

Equity Incentive Plan and Sto_5

Equity Incentive Plan and Stock-Based Compensation - Summary of Stock Plan Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Total Options outstanding, Beginning balance	1,589,120
Total Options outstanding, Granted	74,233
Total Options outstanding, Exercised	0
Total Options Outstanding, Forfeited	(25,865)
Total Options outstanding, Ending balance	1,637,488	1,589,120
Total Options Outstanding, Exercisable	450,581
Weighted average exercise price, Beginning balance	$ 5.95
Weighted average exercise price, Granted	9.31
Weighted average exercise price, Forfeited	6.60
Weighted average exercise price, Ending balance	6.09	$ 5.95
Weighted Average Exercise Price per Share, Exercisable	$ 2.81
Weighted Average Remaining Contractual Life, Outstanding	9 years 10 days	9 years 3 months 7 days
Weighted Average Remaining Contractual Life, Exercisable	8 years 3 months 21 days
Aggregate Intrinsic Value, Outstanding	$ 14,704	$ 5,482
Aggregate Intrinsic Value, Exercisable	$ 5,523

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss	$ (7,655)	$ (2,048)
Accretion to redemption value and cumulative dividends on preferred stock	(1,820)	(761)
Net loss attributable to common stockholders	$ (9,475)	$ (2,809)
Denominator:
Weighted-average common shares outstanding used to calculate net loss per share attributable to common stockholders, basic and diluted	3,180,717	2,620,670
Net loss per share attributable to common stockholders, basic and diluted	$ (2.98)	$ (1.07)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Potentially Dilutive Securities Not Included in Diluted Per Share Calculation (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share	1,674,321	11,787,451
Series A Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share		6,076,196
Series B Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share		5,333,292
Option Issued and Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share	1,637,488	276,794
Early Exercised Common Stock Subject to Future Vesting
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share	36,833	101,169

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Expense related to development milestone payment	$ 0.5
Common stock, shares issued	18,712,658	2,730,298
Adjuvant Global Health Agreement | Initial Public Offering
Related Party Transaction [Line Items]
Common stock, shares issued	166,666
Total additional investment	$ 2.5

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 08, 2022	Mar. 24, 2022	Mar. 31, 2022
Subsequent Event [Line Items]
Net proceeds from IPO			$ 63,198
Common Stock
Subsequent Event [Line Items]
Aggregate number of shares issued			4,600,000
Initial Public Offering | Common Stock
Subsequent Event [Line Items]
Aggregate number of shares issued		4,600,000
Stock issued, price per share		$ 15
Total gross proceeds		$ 69,000
Net proceeds from IPO		$ 60,900
Subsequent Events | Common Stock
Subsequent Event [Line Items]
Aggregate number of shares issued	5,290,000
Net proceeds from IPO	$ 70,500
Subsequent Events | Underwriters | Common Stock
Subsequent Event [Line Items]
Aggregate number of shares issued	690,000
Stock issued, price per share	$ 15
Total gross proceeds	$ 10,400
Net proceeds from IPO	$ 9,600