Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Net loss	$ (185,211)	$ (114,522)	$ (84,547)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	138	39	143
Amortization of debt issuance costs	466	0	0
Amortization of premium and discounts on investment securities	(623)	1,182	462
Proceeds from sale of IC100 & IC 200	(500)	0	0
Share-based compensation	26,676	11,245	8,323
Change in working capital	(31)	54	0
Changes in operating assets and liabilities:
Income tax receivable	0	1,765	0
Prepaid expense and other assets	(12,121)	(943)	(2,742)
Accrued interest receivable	296	438	(323)
Accrued research and development expenses	(2,848)	2,119	5,424
Accounts payable and accrued expenses	9,987	64	7,163
Net cash used in operating activities	(163,771)	(98,559)	(66,097)
Investing Activities
Purchase of marketable securities	(231,040)	(142,821)	(143,810)
Maturities of marketable securities	180,999	164,480	0
Purchase of property and equipment	(736)	(361)	0
Proceeds from sale of assets	500	0	0
Net cash provided by (used in) investing activities	(50,277)	21,298	(143,810)
Financing Activities
Proceeds from employee stock plan purchases and stock option exercises	8,513	2,016	461
Proceeds from term loan	100,000	0	0
Payment of term loan issuance costs	(3,898)	0	0
Net cash provided by financing activities	428,905	272,335	150,581
Net increase (decrease) in cash and cash equivalents	214,857	195,074	(59,326)
Cash and cash equivalents
Beginning of period	261,447	66,373	125,699
End of period	476,304	261,447	66,373
Supplemental disclosure of cash paid
Interest expense paid in cash	1,760	0	0
Income taxes received, net	0	(1,765)	(3,327)
Supplemental disclosures of non-cash information related to investing activities
Change in unrealized gain (loss) on available for sale securities, net of tax	(139)	(93)	3
Operating right-of-use assets obtained in exchange for lease obligations	953	2,086	166
Preferred stock received for the sale of IC100 & IC200	1,869	0	0
Public Stock Offering
Financing Activities
Proceeds from issuance of common stock	324,290	270,319	116,883
Private Placement
Financing Activities
Proceeds from issuance of common stock	$ 0	$ 0	$ 33,237