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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows used in Operating Activities:    
Net loss $ (50,451) $ (34,598)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 128 74
Net accretion of discounts/premiums on debt securities 27 0
Stock-based compensation 7,205 2,116
Loss on investment in joint venture 861 1,282
Changes in operating assets and liabilities:    
Prepaid expenses, right-of-use assets and other assets (3,948) (4,386)
Accounts payable 95 (607)
Accrued expenses and operating lease liability 4,063 472
Net cash used in operating activities (42,020) (35,647)
Cash Flows used in Investing Activities:    
Purchases of marketable securities (136,670) 0
Proceeds from maturities of marketable securities 55,500 0
Purchase of property and equipment (54) (196)
Investment in joint venture (300) (2,000)
Net cash used in investing activities (81,524) (2,196)
Cash Flows from Financing Activities:    
Proceeds from the issuance of common stock upon completion of the initial public offering, net of underwriting commissions and discounts of $6,488 0 86,200
Proceeds from issuance of common stock 21 0
Payments of offering costs (100) (1,612)
Net cash provided (used) by financing activities (79) 84,588
Net increase (decrease) in cash and cash equivalents (123,623) 46,745
Cash and cash equivalents - beginning of period 175,334 140,233
Cash and cash equivalents - end of period 51,711 186,978
Supplemental Disclosures of Noncash Investing and Financing Activities:    
Offering costs in accounts payable and accrued expenses 294 1,621
Property and equipment in accounts payable and accrued expenses $ 0 $ 36