Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 90,677	$ 142,086
Short-term investments	122,436	89,734
Prepaid expenses and other current assets	4,642	4,530
Total current assets	217,755	236,350
Property and equipment, net	1,206	1,293
Operating lease right-of-use assets	1,854	1,949
Other assets	1,426	1,272
Total assets	222,241	240,864
Current liabilities:
Accounts payable	5,658	3,151
Accrued expenses	27,781	13,411
Operating lease liabilities	653	636
Derivative liability	930	1,264
Total current liabilities	35,022	18,462
Revenue interest liability, net	50,860	47,651
Operating lease liabilities, noncurrent	2,452	2,627
Other liabilities	24	29
Total liabilities	88,358	68,769
Commitments and contingencies	0	0
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of March 31, 2021 and December 31, 2020, respectively; and zero shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	0	0
Common stock, $0.0001 par value; 200,000,000 shares authorized as of March 31, 2021 and December 31, 2020, respectively; 30,420,789 shares issued and 30,198,129 shares outstanding, excluding 222,660 shares subject to repurchase as of March 31, 2021; and 30,032,600 shares issued and 29,776,544 shares outstanding, excluding 256,056 shares subject to repurchase as of December 31, 2020	3	3
Additional paid-in capital	357,583	345,180
Accumulated deficit	(223,703)	(173,171)
Accumulated other comprehensive income	0	83
Total stockholders’ equity	133,883	172,095
Total liabilities and stockholders’ equity	$ 222,241	$ 240,864