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Restatement and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of Adjustments to Previously Issued Unaudited Financial Statements Affected by Restatement

Set forth below are the adjustments to the Company’s previously issued unaudited statements of operations and comprehensive loss and unaudited balance sheet for the periods affected by the restatement. The restatement adjustments did not affect the net cash used in operating activities in the Company’s statements of cash flows.

(in thousands, except per share data)

 

Three Months Ended June 30, 2022

 

 

Six Months Ended June 30, 2022

 

Statement of Operations and Comprehensive Loss

 

As Reported

 

 

Adjustment

 

 

As Restated

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

Collaboration revenue

 

$

407

 

 

$

118

 

 

$

525

 

 

$

5,774

 

 

$

(4,781

)

 

$

993

 

Loss from operations

 

$

(14,518

)

 

$

118

 

 

$

(14,400

)

 

$

(21,544

)

 

$

(4,781

)

 

$

(26,325

)

Net loss

 

$

(14,484

)

 

$

118

 

 

$

(14,366

)

 

$

(21,496

)

 

$

(4,781

)

 

$

(26,277

)

Net loss per share attributable to common
  stockholders—basic and diluted

 

$

(0.43

)

 

$

0.01

 

 

$

(0.42

)

 

$

(0.91

)

 

$

(0.21

)

 

$

(1.12

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of June 30, 2022

 

Balance Sheet

 

 

 

 

 

 

 

 

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

Deferred revenue

 

 

 

 

 

 

 

 

 

 

$

1,811

 

 

$

735

 

 

$

2,546

 

Deferred revenue, net of current portion

 

 

 

 

 

 

 

 

 

 

$

9,130

 

 

$

4,046

 

 

$

13,176

 

Total liabilities

 

 

 

 

 

 

 

 

 

 

$

19,005

 

 

$

4,781

 

 

$

23,786

 

Accumulated deficit

 

 

 

 

 

 

 

 

 

 

$

(214,893

)

 

$

(4,781

)

 

$

(219,674

)

Stockholders' equity

 

 

 

 

 

 

 

 

 

 

$

111,030

 

 

$

(4,781

)

 

$

106,249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2022

 

Statement of Cash Flows

 

 

 

 

 

 

 

 

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

Net loss

 

 

 

 

 

 

 

 

 

 

$

(21,496

)

 

$

(4,781

)

 

$

(26,277

)

Deferred revenue

 

 

 

 

 

 

 

 

 

 

$

(774

)

 

$

4,781

 

 

$

4,007

 
Summary of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share

The following table sets forth the potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because to include them would be anti-dilutive (in common stock equivalent shares):

 

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

Stock options

 

 

4,017,726

 

 

 

1,764,499

 

Restricted stock units

 

 

42,353

 

 

 

—

 

Total

 

 

4,060,079

 

 

 

1,764,499