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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (41,481) $ (38,571)
Reconciliation of net loss to net cash used in operating activities:    
Stock-based compensation expense 4,245 3,481
Net gain on warrants inherited in acquisition of Quellis   1,542
Right-of-use asset - operating lease 434  
Other non-cash items (52) 127
Changes in assets and liabilities:    
Prepaid expenses and other assets (1,318) (468)
Lease liability - operating lease (451) 24
Accounts payable 350 (766)
Accrued expenses 66 1,762
Net cash used in operating activities (38,207) (32,869)
Investing activities    
Purchases of short-term investments (1,216,423) (217,564)
Sales and maturities of short-term investments 1,353,500 185,675
Purchases of property and equipment (9) (60)
Net cash provided by (used in) investing activities 137,068 (31,949)
Financing activities    
Proceeds from at-the-market offering, net of issuance costs   24,290
Proceeds from exercise of stock options 420 34
Net cash provided by financing activities 420 24,324
Net increase (decrease) in cash, cash equivalents and restricted cash 99,281 (40,494)
Cash, cash equivalents and restricted cash, beginning of period 20,688 86,629
Cash, cash equivalents and restricted cash, end of period 119,969 46,135
Supplemental disclosure of non-cash transactions:    
Conversion of Series X Preferred Stock into common stock $ 1,074  
Purchases of property and equipment in accounts payable and accrued liabilities   $ 31