Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Summary of Effect of the Adoption of ASC 842 on Statement of Operations and Cash Flows

The following table summarizes the effect of the adoption of ASC 842 on the condensed consolidated statement of operations and statement of cash flows for the six months ended June 30, 2022 (in thousands):

	Pre ASC 842 Six Months Ended June 30, 2022			ASC 842 Adjustments			After ASC 842 Six Months Ended June 30, 2022
Condensed Consolidated Statement of Operations
Operating expenses:
Research and development	$	60,917		$	771		$	61,688
Other income (expense):
Interest expense		(1,761	)		346			(1,415	)
Net loss		(83,984	)		(425	)		(84,409	)
Condensed Consolidated Statement of Cash Flows
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	$	531		$	2		$	533
Non-cash lease expense		—			646			646
Changes in operating assets and liabilities:
Accrued expenses and other current liabilities		(7,958	)		(503	)		(8,461	)
Cash flows from financing activities
Other		(1,046	)		280			(766	)
Supplemental disclosure of noncash investing and financing activities:
Right-of-use assets obtained in exchange for lease liabilities		—			18,925			18,925

The following table summarizes the effect of the adoption of ASC 842 on the condensed consolidated statement of operations for the three months ended June 30, 2022 (in thousands):

	Pre ASC 842 Three Months Ended June 30, 2022			ASC 842 Adjustments			After ASC 842 Three Months Ended June 30, 2022
Condensed Consolidated Statement of Operations
Operating expenses:
Research and development	$	23,118		$	388		$	23,506
Other income (expense):
Interest expense		(912	)		169			(743	)
Net loss		(33,873	)		(219	)		(34,092	)