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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating expenses:        
Research and development $ 25,047 $ 7,400 $ 57,664 $ 17,661
General and administrative 6,608 3,027 20,194 6,737
Total operating expenses 31,655 10,427 77,858 24,398
Loss from operations (31,655) (10,427) (77,858) (24,398)
Other income (expense):        
Change in fair value of preferred stock tranche right liability 0 0 0 (74,319)
Change in fair value of anti-dilution obligation 0 0 0 (6,681)
Change in fair value of related party short-term investment 1,789 (8,354) (6,419) 1,075
Other income (expense), net [1] 728 (1) 977 0
Total other expense, net 2,517 (8,355) (5,442) (79,925)
Net loss before income taxes (29,138) (18,782) (83,300) (104,323)
Provision for (benefit from) income taxes 212 (2,370) (762) (1,867)
Net loss (29,350) (16,412) (82,538) (102,456)
Accretion of preferred stock to redemption value 0 0 0 (1,468)
Cumulative dividend on preferred stock (6,362) (6,363) (18,879) (10,922)
Net loss attributable to common stockholders, basic (35,712) (22,775) (101,417) (114,846)
Net loss attributable to common stockholders, diluted $ (35,712) $ (22,775) $ (101,417) $ (114,846)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (1.61) $ (1.52) $ (4.91) $ (9.74)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (1.61) $ (1.52) $ (4.91) $ (9.74)
Weighted-average common shares outstanding, diluted (in shares) 22,226,301 14,965,186 20,665,225 11,795,738
Weighted-average common shares outstanding, basic (in shares) 22,226,301 14,965,186 20,665,225 11,795,738
Comprehensive loss:        
Net loss $ (29,350) $ (16,412) $ (82,538) $ (102,456)
Change in unrealized (losses) gains on investments, net of tax (304) 25 (427) (9)
Total other comprehensive loss (304) 25 (427) (9)
Comprehensive loss $ (29,654) $ (16,387) $ (82,965) $ (102,465)
[1] Includes no related party amounts for the three months ended September 30, 2022 and 2021, and zero and $(429) for the nine months ended September 30, 2022 and 2021, respectively (see Note 13).