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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]  
Summary of Selected Quarterly Financial Data

The following tables provide the selected quarterly financial data for the years ended December 31, 2023 and 2022 (in thousands, except share and per share data):

 

 

2023

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Statements of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

Research and development

$

24,395

 

 

$

21,938

 

 

$

25,347

 

 

$

30,866

 

General and administrative

 

5,636

 

 

 

5,719

 

 

 

5,772

 

 

$

6,462

 

Total operating expenses

 

30,031

 

 

 

27,657

 

 

 

31,119

 

 

 

37,328

 

Loss from operations

 

(30,031

)

 

 

(27,657

)

 

 

(31,119

)

 

 

(37,328

)

Interest and other income, net

 

980

 

 

 

2,766

 

 

 

2,690

 

 

$

2,444

 

Net loss

$

(29,051

)

 

$

(24,891

)

 

$

(28,429

)

 

$

(34,884

)

Net loss per share, basic and diluted

$

(0.98

)

 

$

(0.70

)

 

$

(0.80

)

 

$

(0.98

)

Weighted-average number of common shares used to compute
   basic and diluted net loss per common share

 

29,586,468

 

 

 

35,348,293

 

 

 

35,653,988

 

 

 

35,754,165

 

 

 

 

2022

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Statements of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

Research and development

$

11,350

 

 

$

12,582

 

 

$

18,242

 

 

$

20,539

 

General and administrative

 

5,050

 

 

 

4,892

 

 

 

5,242

 

 

 

5,737

 

Total operating expenses

 

16,400

 

 

 

17,474

 

 

 

23,484

 

 

 

26,276

 

Loss from operations

 

(16,400

)

 

 

(17,474

)

 

 

(23,484

)

 

 

(26,276

)

Interest and other income, net

 

34

 

 

 

216

 

 

 

594

 

 

 

962

 

Net loss

$

(16,366

)

 

$

(17,258

)

 

$

(22,890

)

 

$

(25,314

)

Net loss per share, basic and diluted

$

(0.56

)

 

$

(0.59

)

 

$

(0.78

)

 

$

(0.86

)

Weighted-average number of common shares used to compute
   basic and diluted net loss per common share

 

29,126,088

 

 

 

29,196,398

 

 

 

29,319,042

 

 

 

29,441,596