Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2022 (in thousands):

	Pre ASC 842 Nine Months Ended September 30, 2022			ASC 842 Adjustments			After ASC 842 Nine Months Ended September 30, 2022
Condensed Consolidated Statement of Operations
Operating expenses:
Research and development	$	77,308		$	1,154		$	78,462
Other income (expense):
Interest expense		(3,002	)		509			(2,493	)
Net loss		(110,291	)		(645	)		(110,936	)
Condensed Consolidated Statement of Cash Flows
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	$	808		$	2		$	810
Non-cash lease expense		—			1,031			1,031
Changes in operating assets and liabilities:
Accrued expenses and other current liabilities		(7,753	)		(823	)		(8,576	)
Cash flows from financing activities
Other		(1,144	)		435			(709	)
Supplemental disclosure of noncash investing and financing activities:
Right-of-use assets obtained in exchange for lease liabilities		—			23,035			23,035

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

	Pre ASC 842 Three Months Ended September 30, 2022			ASC 842 Adjustments			After ASC 842 Three Months Ended September 30, 2022
Condensed Consolidated Statement of Operations
Operating expenses:
Research and development	$	16,391		$	383		$	16,774
Other income (expense):
Interest expense		(1,241	)		163			(1,078	)
Net loss		(26,307	)		(220	)		(26,527	)