Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Estimated Useful Life of Asset

Costs that improve assets or extend their economic lives are capitalized. Depreciation is recognized using the straight-line method based on an estimated useful life of the asset, which is as follows:

Computer equipment	3 years
Laboratory equipment and office furniture	3 years
Leasehold improvement	Shorter of life of asset or lease term

Accounting Standards Update and Change in Accounting Principle

The following table summarizes the effects of adopting ASC 842 on the Company's condensed consolidated statement of cash flows for the three months ended March 31, 2021 (in thousands):

	Three Months Ended March 31, 2021
	Previously Reported		ASC 842 Adjustment		As Adjusted
Operating activities
Noncash lease expense	$	—	$	441	$	441
Changes in operating assets and liabilities:
Deferred rent	(726)		726		—
Operating lease liability	—		(1,167)		(1,167)
Net cash used in operating activities	$	(22,225)	$	—	$	(22,225)

Computation of Net Loss Per Common Share

Net loss per share was computed as follows (in thousands, except per share amounts):

	Three Months Ended March 31,
	2022		2021
Numerator:
Net loss	$	(32,450)	$	(27,544)
Denominator:
Weighted average number of shares used in calculating net loss per share—basic and diluted	78,023		76,034
Net loss per share—basic and diluted	$	(0.42)	$	(0.36)

Potentially Dilutive Securities Not Included in the Diluted Net Loss Per Share Calculations

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows (in thousands):

	Three Months Ended March 31,
	2022	2021
Options to purchase common stock	13,240	11,301
Shares committed under ESPP	390	292
Total	13,630	11,593