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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (22,840,000) $ (3,797,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,083,000 107,000
Depreciation expense 230,000 0
Other non-cash expense   310,000
Amortization of premiums and accretion of discounts on available-for-sale securities, net 226,000  
Prepaid expenses and other current assets 3,217,000 (1,203,000)
Changes in operating assets and liabilities:    
Unbilled grant receivables (1,289,000)  
Accounts payable and accrued expenses 3,318,000 546,000
Operating lease liability 433,000  
Net cash used in operating activities (14,622,000) (4,037,000)
Investing activities    
Purchases of available-for-sale securities (173,563,000)  
Maturities of available-for-sale securities 152,740,000  
Proceeds from sales of available-for-sale securities 9,988,000  
Purchases of property and equipment (418,000)  
Principal payments received on stockholder note receivable   3,000
Net cash (used in) provided by investing activities (11,253,000) 3,000
Financing activities    
Proceeds from exercise of common stock options 189,000 238,000
Proceeds from issuance of convertible preferred stock and common stock warrants, net of issuance costs   85,396,000
Proceeds from exercise of common stock warrants   55,000
Proceeds from follow-on public offering, net of issuance costs 96,762,000  
Proceeds from issuance of convertible notes, including derivative, net of issuance costs   1,664,000
Payments of deferred offering costs   209,000
Net cash provided by financing activities 96,951,000 87,144,000
Net increase (decrease) in cash and cash equivalents 71,076,000 83,110,000
Cash and cash equivalents, beginning of period 60,625,000 2,056,000
Cash and cash equivalents, end of period 131,701,000 85,166,000
Supplemental disclosures of cash flow information:    
Deferred offering costs included in accounts payable and accrued liabilities   206,000
Issuance costs for convertible preferred stock included in accounts payable and accrued liabilities   3,470,000
Allocation of proceeds to common stock warrants issued in Series B convertible preferred stock financing   10,591,000
Issuance of Series B-1 preferred stock upon conversion of promissory notes   4,515,000
Recognition of warrant liability in connection with Series B convertible preferred stock financing   364,000
Recognition of derivative liability upon issuance of convertible notes   $ 774,000
Right-of-use asset obtained in exchange for new operating lease liability $ 680,000