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Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net loss $ (16,366,000) $ (5,852,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation expense 166,000 11,000
Non-cash operating lease expense 140,000 81,000
Stock-based compensation expense 2,330,000 919,000
Net amortization of premiums and accretion of discounts on investments 100,000  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 828,000 (292,000)
Other assets (369,000) 12,000
Accounts payable 1,195,000 41,000
Accrued expenses and other current liabilities. 2,117,000 1,091,000
Operating lease liabilities (135,000) (86,000)
Net cash used in operating activities (9,994,000) (4,075,000)
Investing Activities    
Purchase of property and equipment (95,000) (67,000)
Purchase of investments   (38,443,000)
Maturities of investments 20,537,000  
Net cash provided by (used in) investing activities 20,442,000 (38,510,000)
Financing Activities    
Series A financing costs incurred   (3,000)
Proceeds from stock option exercise 31,000  
Net cash provided by financing activities 31,000 (3,000)
Net increase (decrease) in cash, cash equivalents, and restricted cash 10,479,000 (42,588,000)
Cash, cash equivalents, and restricted cash at the beginning of the period 146,087,000 61,695,000
Cash, cash equivalents, and restricted cash at the end of the period 156,566,000 19,107,000
Non-cash financing and investing activities:    
Acquisition of property and equipment in accounts payable and accrued liabilities   29,000
Unpaid deferred offering costs   1,226,000
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 156,215,000 18,891,000
Restricted cash 351,000 216,000
Cash, cash equivalents, and restricted cash at the end of the period $ 156,566,000 $ 19,107,000