Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2022 | May 12, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
Entity Registrant Name | Checkmate Pharmaceuticals, Inc. | |
Entity Central Index Key | 0001651431 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, State or Province | MA | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | CMPI | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 22,038,218 | |
Entity File Number | 001-39425 | |
Entity Address, Address Line One | 245 Main Street | |
Entity Address, Address Line Two | 2nd Floor | |
Entity Address, City or Town | Cambridge | |
Entity Address, Postal Zip Code | 02142 | |
Entity Tax Identification Number | 36-4813934 | |
City Area Code | 617 | |
Local Phone Number | 682-3625 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash and cash equivalents | $ 39,478 | $ 50,675 |
Restricted cash | 20 | 20 |
Short-term investments | 20,555 | 20,192 |
Prepaid expenses and other current assets | 2,057 | 3,075 |
Total current assets | 62,110 | 73,962 |
Equipment, net | 735 | 777 |
Other assets | 4,099 | 4,099 |
Total assets | 66,944 | 78,838 |
Current Liabilities: | ||
Accounts payable | 3,608 | 3,385 |
Accrued expenses | 8,334 | 5,994 |
Total current liabilities | 11,942 | 9,379 |
Total liabilities | 11,942 | 9,379 |
Commitments and Contingencies (Note 9) | ||
Stockholders' Equity: | ||
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of March 31, 2022 and December 31, 2021; no shares outstanding as of March 31, 2022 and December 31, 2021 | 0 | 0 |
Common stock, $0.0001 par value; 300,000,000 authorized as of March 31, 2022 and December 31, 2021; 21,630,627 and 21,630,572 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively | 2 | 2 |
Additional paid-in capital | 272,400 | 270,947 |
Accumulated other comprehensive gain (loss) | (57) | (14) |
Accumulated deficit | (217,343) | (201,476) |
Total stockholders' equity | 55,002 | 69,459 |
Total liabilities and stockholders' equity | $ 66,944 | $ 78,838 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Common stock par value per share | $ 0.0001 | $ 0.0001 |
Common stock number of shares authorised | 300,000,000 | 300,000,000 |
Common stock number of shares issued | 21,630,627 | 21,630,572 |
Common stock number of shares outstanding | 21,630,627 | 21,630,572 |
Preferred stock par value per share | $ 0.0001 | $ 0.0001 |
Preferred stock number of shares authorised | 10,000,000 | 10,000,000 |
Preferred stock number of shares outstanding | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations And Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating expenses: | ||
Research and development | $ 11,648 | $ 10,378 |
General and administrative | 4,238 | 3,803 |
Total operating expenses | 15,886 | 14,181 |
Loss from operations | (15,886) | (14,181) |
Other income: | ||
Interest income | 19 | 53 |
Total other income | 19 | 53 |
Net loss | $ (15,867) | $ (14,128) |
Weighted-average common shares outstanding—basic and diluted | 21,630,600 | 21,582,143 |
Net loss per share—basic and diluted | $ (0.73) | $ (0.65) |
Comprehensive loss: | ||
Net loss | $ (15,867) | $ (14,128) |
Unrealized loss on available-for-sale investments | (43) | (9) |
Comprehensive loss | $ (15,910) | $ (14,137) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Gain/(Loss) [Member] |
Beginning balance at Dec. 31, 2020 | $ (125,199) | $ 2 | $ 265,342 | $ (140,071) | $ (74) |
Beginning balance, shares at Dec. 31, 2020 | 21,560,398 | ||||
Exercise of stock options | 118 | 118 | |||
Exercise of stock options, shares | 59,225 | ||||
Stock-based compensation expense | 1,216 | 1,216 | |||
Unrealized gains (losses) on available-for-sale investments | (9) | (9) | |||
Net loss | (14,128) | (14,128) | |||
Ending balance at Mar. 31, 2021 | 112,396 | $ 2 | 266,676 | (154,129) | (83) |
Ending balance, shares at Mar. 31, 2021 | 21,619,623 | ||||
Beginning balance at Dec. 31, 2021 | 69,459 | $ 2 | 270,947 | (201,476) | (14) |
Beginning balance, shares at Dec. 31, 2021 | 21,630,572 | ||||
Exercise of stock options, shares | 55 | ||||
Stock-based compensation expense | 1,453 | 1,453 | |||
Unrealized gains (losses) on available-for-sale investments | (43) | (43) | |||
Net loss | (15,867) | (15,867) | |||
Ending balance at Mar. 31, 2022 | $ 55,002 | $ 2 | $ 272,400 | $ (217,343) | $ (57) |
Ending balance, shares at Mar. 31, 2022 | 21,630,627 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (15,867) | $ (14,128) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 1,453 | 1,216 |
Depreciation | 42 | |
Amortization/accretion of investments | 121 | 202 |
Change in operating assets and liabilities: | ||
Prepaid expenses and other current assets | 1,018 | (1,033) |
Accounts payable | 223 | (210) |
Accrued expenses | 2,340 | (354) |
Net cash used in operating activities | (10,670) | (14,307) |
Cash flows from investing activities | ||
Purchases of investments | (4,527) | (10,239) |
Maturities of investments | 4,000 | 20,500 |
Net cash provided by (used in) investing activities | (527) | 10,261 |
Cash flows from financing activities | ||
Proceeds from stock option exercises | 0 | 118 |
Net cash provided by financing activities | 0 | 118 |
Net decrease in cash, cash equivalents and restricted cash | (11,197) | (3,928) |
Cash, cash equivalents and restricted cash at beginning of period | 50,695 | 43,075 |
Cash, cash equivalents and restricted cash at end of period | $ 39,498 | $ 39,147 |
Nature of Business
Nature of Business | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | 1 – N ATURE OF USINESS Nature of Business Checkmate Pharmaceuticals, Inc. (“Checkmate” or the “Company”), headquartered in Cambridge, Massachusetts, is a clinical stage biotechnology company incorporated under the laws of the State of Delaware in July 2015 that is focused on developing and commercializing its proprietary technology to harness the power of the immune system to combat cancer. Since its inception, the Company has devoted substantially all of its efforts to the research and development activities, including recruiting management and technical staff, raising capital, producing materials for non-clinical Proposed Merger with Regeneron Pharmaceuticals, Inc. On April 18, 2022, the Company entered into an Agreement and Plan of Merger (“Merger Agreement”) with Regeneron Pharmaceuticals, Inc., a New York corporation (“Parent”), and Scandinavian Acquisition Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Purchaser”). Pursuant to the Merger Agreement, and upon the terms and subject to the conditions therein, Purchaser filed a tender offer on May 2, 2022, (the “Offer”) to acquire all of the issued and outstanding shares of the common stock of the Company at a price per share of $10.50, to be paid to the seller in cash, without interest and subject to reduction for any applicable withholding of taxes required by applicable law. The Offer will initially remain open for 20 business days, subject to extension under certain circumstances. If successful, upon terms and conditions set forth in the Merger Agreement, Purchaser will merge with and into the Company, with the Company as the surviving corporation and as a direct wholly owned subsidiary of Parent (the “Merger”), after which the Company will cease being a standalone entity. The Merger and related transactions are currently expected to close in mid-2022, if, among other reasons: (i) the Company elects to terminate the Merger Agreement in accordance therewith; (ii) the Company fails to include a favorable recommendation of the Board in the Schedule 14D-9 Assuming successful completion of the Merger, the Company will incur approximately $10.0 million of closing costs to third-party advisors in accordance with contractual obligations tied to the successful closing of the transaction. Risks and Uncertainties The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, the outcome of clinical trials, development by competitors of new therapeutics and technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, ability to secure additional capital to fund operations, and risks associated with the ongoing COVID-19 additional research and development, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts will require significant amounts of additional capital, adequate personnel, infrastructure and extensive compliance reporting capabilities. The Company has not generated any revenues from the sale of any products to date. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. Going Concern Since inception, the Company has incurred recurring losses and negative cash flows from operations. The Company expects to continue to generate operating losses for the foreseeable future. The Company has funded its operations primarily with proceeds from the sale of its common stock, convertible debt and redeemable convertible preferred stock. The Company’s cash, cash equivalents and available-for-sale investments were $ million as of March 31, 2022. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as Going Concern (Subtopic 205-40) As a result, management has concluded that substantial doubt exists with respect to the Company’s ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued. If the Merger does not occur, the Company expects its existing cash, cash equivalents and available-for-sale |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2 – S UMMARY OF IGNIFICANT CCOUNTING OLICIES The Company’s significant accounting policies are described in Note 3, Summary of Significant Accounting Policies 10-K. Basis of Presentation The accompanying condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly owned subsidiary Checkmate Pharmaceuticals Security Corporation. Any reference in these notes to applicable guidance is meant to refer to the authoritative accounting principles generally accepted in the United States as found in the Accounting Standard Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB). Unaudited interim financial information The accompanying interim condensed consolidated financial statements and related disclosures are unaudited and have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q S-X 10-K. Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. Recently issued accounting pronouncements In June 2016, the FASB issued ASU 2016-13, 2016-13 No. 2019-05, No. 2019-11 No. 2016-13, |
Investments And Fair Value Meas
Investments And Fair Value Measurement | 3 Months Ended |
Mar. 31, 2022 | |
Investments, Fair Value Disclosure [Abstract] | |
Investments And Fair Value Measurement | 3 – I NVESTMENTS AND AIR ALUE EASUREMENT The following tables summarizes the amortized cost and estimated fair value of the Company’s investments, which are considered to be available-for-sale As of March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term Investments, non-current (in thousands ) Corporate debt securities $ 20,612 $ — $ (57 ) $ 20,555 $ 20,555 $ — As of December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term Investments, non-current (in thousands ) Corporate debt securities $ 20,206 $ — $ (14 ) $ 20,192 $ 20,192 $ — At March 31, 2022 all available-for-sale available-for-sale The following tables set forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy that are measured at fair value on a recurring basis: March 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Assets: Money markets funds (included in cash equivalents) $ 38,237 $ — $ — $ 38,237 Corporate debt securities — 20,555 — 20,555 Total assets $ 38,237 $ 20,555 $ — $ 58,792 December 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Assets: Money markets funds (included in cash equivalents) $ 49,482 $ — $ — $ 49,482 Corporate debt securities — 20,192 — 20,192 Total assets $ 49,482 $ 20,192 $ — $ 69,674 Investments classified as Level 2 within the valuation hierarchy consist of corporate debt securities. The Company estimates the fair values of these marketable securities by taking into consideration valuations obtained from third-party pricing sources. |
Accrued Expenses
Accrued Expenses | 3 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | 4 – A CCRUED XPENSES Accrued expenses consist of the following: March 31, December 31, 2022 2021 (in thousands) Payroll and employee related expenses $ 1,849 $ 2,499 External research and development 5,938 3,291 Other accrued expenses 547 204 Total accrued expenses $ 8,334 $ 5,994 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | 5 – S TOCK ASED OMPENSATION Total stock-based compensation expense was classified in the accompanying condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended March 31, 2022 2021 (in thousands) Research and development $ 731 $ 486 General and administrative 722 730 Total stock-based compensation expense $ 1,453 $ 1,216 During the three months ended March 31, 2022, the Company granted options with service-based vesting conditions for the purchase of shares of common stock with a weighted average exercise price of $ per share and a weighted average grant-date fair value of $ per share. |
Net Loss Per Share
Net Loss Per Share | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | 6 – N ET OSS ER HARE Because the Company reports a net loss, basic and diluted net loss per share are the same for both years presented. All stock options have been excluded from the computation of diluted weighted-average shares outstanding because such securities would have an antidilutive impact. At March 31, 2022 and 2021, options to purchase common stock of and , respectively, have been excluded from the calculation of diluted net loss per share because their inclusion would have been antidilutive. |
Commitments And Contingencies
Commitments And Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | 7 – C OMMITMENTS AND ONTINGENCIES Operating Lease The Company has a month-to-month Clinical Trial Collaboration and Supply Agreements On May 10, 2021, the Company entered into a Supply and Non-Exclusive anti-PD-1 anti-PD-1 and anti-PD-1 non-exclusive On non-exclusive License Agreement In June 2015, the Company entered into an exclusive license agreement with Cytos Biotechnology LTD (now Kuros Biosciences AG, or “Kuros”) as amended in August 2017 and as further amended in January 2018 (the “Kuros License Agreement”). Pursuant to the Kuros License Agreement, in return for payments made, the Company was granted an exclusive, royalty-bearing, sublicensable, worldwide license, under all of Kuros’ intellectual property rights, including any intellectual property rights arising during the term of the agreement, to commercially develop, manufacture, use, distribute, and sell certain therapeutic products, including vidutolimod, (the “Licensed Products”) for the diagnosis, treatment and prevention of all indications in humans and animals. Under the terms of the Kuros License Agreement, the Company is required to use commercially reasonable efforts to develop at least one Licensed Product. Under the Kuros License Agreement, the Company agreed to make payments to Kuros for each product that achieves certain development and regulatory milestones, including payments of up to $ million for the Company’s current oncology programs. Through March 31, 202 2 , the Company has incurred license fees and milestone payments totaling $ million, including $ million in 2021. Cost incurred in 2021 relate d million milestone payment in connection with the dosing of the first patient in the Phase 2/3 first-line melanoma trial for vidutolimod, which was recognized in the condensed consolidated statement of operations for the three months ended March 31, 2021 and (ii) a $ million milestone payment in connection with the patient dosing in a Phase 2 trial of vidutolimod in combination with nivolumab for the treatment of patients with anti-PD-1 refractory melanoma and to potentially support a Biologics License Application (“BLA”) and marketing approval of vidutolimod, which was entirely recognized in the condensed consolidated statements of operations for the three months ended June 30, 2021. Future milestone payments will be due upon filing for regulatory approval in each of the United States, Europe and the Far East and for ultimate approval in each of those regions. The licensed know-how. the last-to-expire royalty Other Contingencies During the ordinary course of its operations, the Company may become a party to contractual disputes, litigation, and potential claims. The Company does not believe that the resolution of any of these matters, if any, will have a material adverse effect on its financial position or results of operations. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly owned subsidiary Checkmate Pharmaceuticals Security Corporation. Any reference in these notes to applicable guidance is meant to refer to the authoritative accounting principles generally accepted in the United States as found in the Accounting Standard Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB). |
Unaudited interim financial information | Unaudited interim financial information The accompanying interim condensed consolidated financial statements and related disclosures are unaudited and have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q S-X 10-K. |
Use of Estimates | Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. |
Recently issued accounting pronouncements | Recently issued accounting pronouncements In June 2016, the FASB issued ASU 2016-13, 2016-13 No. 2019-05, No. 2019-11 No. 2016-13, |
Investments And Fair Value Me_2
Investments And Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments, Fair Value Disclosure [Abstract] | |
Summary of Amortized cost and estimated fair value of investments | The following tables summarizes the amortized cost and estimated fair value of the Company’s investments, which are considered to be available-for-sale As of March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term Investments, non-current (in thousands ) Corporate debt securities $ 20,612 $ — $ (57 ) $ 20,555 $ 20,555 $ — As of December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term Investments, non-current (in thousands ) Corporate debt securities $ 20,206 $ — $ (14 ) $ 20,192 $ 20,192 $ — |
Schedule of Fair Value Assets And Liabilities Measured On Recurring Basis | The following tables set forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy that are measured at fair value on a recurring basis: March 31, 2022 Level 1 Level 2 Level 3 Total (in thousands) Assets: Money markets funds (included in cash equivalents) $ 38,237 $ — $ — $ 38,237 Corporate debt securities — 20,555 — 20,555 Total assets $ 38,237 $ 20,555 $ — $ 58,792 December 31, 2021 Level 1 Level 2 Level 3 Total (in thousands) Assets: Money markets funds (included in cash equivalents) $ 49,482 $ — $ — $ 49,482 Corporate debt securities — 20,192 — 20,192 Total assets $ 49,482 $ 20,192 $ — $ 69,674 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued expenses consist of the following: March 31, December 31, 2022 2021 (in thousands) Payroll and employee related expenses $ 1,849 $ 2,499 External research and development 5,938 3,291 Other accrued expenses 547 204 Total accrued expenses $ 8,334 $ 5,994 |
Stock-Based Compensation - (Ta
Stock-Based Compensation - (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Total Stock-Based Compensation Expense | Total stock-based compensation expense was classified in the accompanying condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended March 31, 2022 2021 (in thousands) Research and development $ 731 $ 486 General and administrative 722 730 Total stock-based compensation expense $ 1,453 $ 1,216 |
Nature of Business - Additional
Nature of Business - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Apr. 18, 2022 | Mar. 31, 2022 |
Subsidiary, Sale of Stock [Line Items] | ||
Available-for-sale investment | $ 60.1 | |
Regeneron Pharmaceuticals, Inc [Member] | Subsequent Event [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Sale of stock, price per share | $ 10.50 | |
Termination fees | $ 8.8 | |
Assuming of successful merger completion closing costs to third party advisors | $ 10 |
Going Concern - Additional Info
Going Concern - Additional Information (Detail) $ in Millions | Mar. 31, 2022USD ($) |
Going Concern [Abstract] | |
Cash, Cash Equivalents, and Short-term Investments | $ 60.1 |
Cash | $ 60.1 |
Investments And Fair Value Me_3
Investments And Fair Value Measurement - Summary Of Amortized Cost And Estimated Fair Value Of Investment (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Fair Value | $ 60,100 | ||
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 20,612 | $ 20,206 | |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | $ 0 | |
Debt Securities, Available-for-sale, Unrealized Loss | (57) | $ (14) | |
Debt Securities, Available-for-sale, Fair Value | 20,555 | 20,192 | |
Debt Securities, Available-for-sale, Short-term Investments | 20,555 | 20,192 | |
Debt Securities, Available-for-sale, Investments, non-current | $ 0 | $ 0 |
Investments And Fair Value Me_4
Investments And Fair Value Measurement - Schedule of Fair Value Assets And Liabilities Measured On Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Assets, Fair Value Disclosure | $ 58,792 | $ 69,674 |
Money Markets Funds [Member] | ||
Assets: | ||
Assets, Fair Value Disclosure | 38,237 | 49,482 |
Corporate Debt Securities [Member] | ||
Assets: | ||
Assets, Fair Value Disclosure | 20,555 | 20,192 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Assets, Fair Value Disclosure | 38,237 | 49,482 |
Fair Value, Inputs, Level 1 [Member] | Money Markets Funds [Member] | ||
Assets: | ||
Assets, Fair Value Disclosure | 38,237 | 49,482 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Assets, Fair Value Disclosure | 20,555 | 20,192 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Assets: | ||
Assets, Fair Value Disclosure | $ 20,555 | $ 20,192 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Payables and Accruals [Abstract] | ||
Payroll and employee related expenses | $ 1,849 | $ 2,499 |
External research and development | 5,938 | 3,291 |
Other accrued expenses | 547 | 204 |
Total accrued expenses | $ 8,334 | $ 5,994 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 1,453 | $ 1,216 |
Research and Development [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 731 | 486 |
General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 722 | $ 730 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2022$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock options granted | shares | 1,589,475 |
Weighted average exercise price, granted | $ 2.41 |
Weighted average grant date fair value of stock options granted, Per share | $ 1.70 |
Net Loss Per Share - Additional
Net Loss Per Share - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings Per Share [Abstract] | ||
Purchase common stock | $ 4,724,613 | $ 3,178,556 |
Commitments And Contingencies -
Commitments And Contingencies - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 |
Long-term Purchase Commitment [Line Items] | ||||
Research and development expenses recognised | $ 11,648 | $ 10,378 | ||
Operating lease rental expenses | $ 200 | $ 100 | ||
No of days that agreement to be terminated by both parties | 60 days | |||
No of days that agreement to be Voluntary terminated by company | 90 days | |||
Kuros License Agreement [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Long-term Agreement commitment amount | $ 56,000 | |||
Milestone Payments Paid | $ 8,300 | |||
Long-term purchase commitment, amount | $ 56,000 | |||
Percentage of royalities on licensed knowhow | 50.00% | |||
Kuros License Agreement [Member] | Research And Development Expense Two Thousand Sixteen [Member] | Phase Two Trial [member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Research and development expenses recognised | $ 4,000 | |||
Kuros License Agreement [Member] | Research And Development Expense Two Thousand Twenty One [Member] | Phase Two Trial [member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Research and development expenses recognised | 2,000 | |||
Master Clinical Trial Collaboration Agreement [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Long-term Agreement commitment amount | 0 | |||
Long-term purchase commitment, amount | $ 0 | |||
Cmpi Kuros License Agreement [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
License agreement license fees and milestone costs Incurred | $ 6,000 |