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Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (30,727,000) $ (17,168,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 180,000 130,000
Stock-based compensation 4,015,000 983,000
Amortization (accretion) of premium (discount) on marketable securities, net 1,085,000  
Amortization of right-of-use asset 101,000  
Changes in assets and liabilities:    
Prepaid expenses and other assets (1,541,000) (3,011,000)
Accounts payable (1,467,000) 1,627,000
Accrued compensation (773,000) 198,000
Accrued other expenses 243,000 1,415,000
Lease liability 67,000  
Net cash used in operating activities (28,817,000) (15,826,000)
Cash flows from investing activities    
Purchases of marketable securities (77,707,000) (231,802,000)
Sales of marketable securities 13,326,000  
Maturities of marketable securities 96,644,000 7,200,000
Purchases of property and equipment (923,000) (138,000)
Net cash provided by (used in) investing activities 31,340,000 (224,740,000)
Cash flows from financing activities    
Proceeds from initial public offering of common stock, net of underwriting discounts and commissions and offering costs   186,148,000
Payment of preferred stock issuance costs   (124,000)
Exercise of stock options 328,000 30,000
Payment of deferred offering costs (254,000)  
Proceeds from Employee Stock Purchase Plan 178,000  
Net cash provided by financing activities 252,000 186,054,000
Net change in cash and cash equivalents 2,775,000 (54,512,000)
Cash and cash equivalents at beginning of period 15,566,000 104,916,000
Cash and cash equivalents at end of period 18,341,000 50,404,000
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use asset obtained in exchange for new operating lease liability, net of tenant improvement receivable 1,672,000  
Property and equipment purchases included in accounts payable $ 451,000  
Conversion of convertible preferred stock upon closing of initial public offering   $ 160,214,000