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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (41,255) $ (27,029)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 4,235 1,263
Depreciation 144 129
Non-cash lease expense 172 178
Amortization (accretion) of net investment premiums (discounts) (1,990) (147)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,387) (990)
Other non-current assets 22  
Accounts payable 122 12
Accrued expenses and other current liabilities 2,922 3,027
Operating lease liabilities (187) (177)
Deferred tax liability   121
Net cash used in operating activities (37,202) (23,613)
Cash flows from investing activities    
Purchases of short-term investments (165,836) (68,280)
Maturities of short-term investments 48,300 12,500
Purchases of property and equipment (191) (12)
Net cash used in investing activities (117,727) (55,792)
Cash flows from financing activities    
Proceeds from issuance of common stock in initial public offering, net of underwriting discount and commissions 172,296  
Payments of deferred offering costs (3,077) (1,909)
Proceeds from issuance of Series B redeemable convertible preferred shares, net of issuance costs   31,500
Repurchases of restricted shares   (6)
Proceeds from exercise of share options 210 4
Net cash provided by financing activities 169,429 29,589
Net change in cash and cash equivalents 14,500 (49,816)
Cash and cash equivalents, Beginning of the period 26,091 105,305
Cash and cash equivalents, End of the period 40,591 55,489
Supplemental disclosures of noncash investing and financing activities    
Conversion of redeemable convertible preferred shares into ordinary shares upon initial public offering 199,975  
Exchange of ordinary shares to non-voting ordinary shares $ 1  
Deferred offering costs included in accounts payable and accrued expenses and other current liabilities   348
Accretion of redeemable convertible preferred shares to their redemption value   $ 1,515