Financial Statement Components

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Financial Statement Components

7. Financial Statement Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	As of
(In thousands)	June 30, 2022		December 31, 2021
Prepaid clinical trial services	$	1,207	$	2,038
Prepaid research and development expenses		1,438		2,074
Prepaid insurance		1,935		4,701
Other prepaid expenses		2,271		2,225
Interest receivable		981		729
Other		1,101		562
Prepaid expenses and other current assets	$	8,933	$	12,329

Property and Equipment, Net

Property and equipment, net consisted of the following:

	As of
(In thousands)	June 30, 2022			December 31, 2021
Computer equipment and software	$	996		$	946
Furniture and fixtures		459			437
Laboratory equipment		9,001			5,617
Leasehold improvements		23,466			23,286
Construction in progress		199			729
Less: Accumulated depreciation		(4,807	)		(2,566	)
Property and equipment, net	$	29,314		$	28,449

Other Long-Term Assets

Other long-term assets consisted of the following:

	As of
(In thousands)	June 30, 2022		December 31, 2021
Other prepaid expenses, net of current portion	$	1,737	$	1,806
Deferred expenses associated with financing activities		465		485
Other		560		442
Other long-term assets	$	2,762	$	2,733

As of June 30, 2022 and December 31, 2021, other prepaid expenses, net of current portion, primarily consisted of deposits paid under certain contract research organization agreements that will be held until the completion of the related clinical trials that are anticipated to end more than 12 months from the balance sheet date.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	As of
(In thousands)	June 30, 2022		December 31, 2021
Accrued external research and development services	$	30,659	$	16,097
Accrued compensation and personnel costs		8,272		10,827
Accrued property and equipment		311		109
Accrued professional fees and consulting services		2,931		1,270
Other		890		500
Accrued expenses and other current liabilities	$	43,063	$	28,803

Other Income (Expense), net

Other income (expense), net consisted of the following:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
(In thousands)	2022		2021			2022		2021
Gain (loss) on fair value remeasurement of financing liability, related party	$	930	$	(496	)	$	2,900	$	(496	)
Gain (loss) on fair value remeasurement of financing liability		930		(496	)		2,900		(496	)
Loss on fair value remeasurement of private placement warrants		—		(1,746	)		—		(2,170	)
Other, net		8		(1	)		9		(2	)
Other income (expense), net	$	1,868	$	(2,739	)	$	5,809	$	(3,164	)