0001564590-21-041601 | 10-Q | XBRL Viewer

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Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Restricted cash pledged as collateral	$ 210	$ 210	$ 210	$ 210	$ 210
Total potentially dilutive securities	7,002,000	5,141,000	7,002,000	5,141,000
Collateral Pledged
Summary Of Significant Accounting Policies [Line Items]
Restricted cash pledged as collateral	$ 200		$ 200

Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of June 30, 2021 are as follows, in thousands:

Year Ending December 31,
2021 (remaining)	$	1,022
2022		2,032
2023		2,080
2024		1,558
2025		722
Total lease payments		7,414
Less: imputed interest		(678	)
Total operating lease liabilities	$	6,736

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed balance sheets that sum to the total of the amounts shown in the unaudited condensed statements of cash flows, in thousands:

	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
Cash and cash equivalents	$	38,974	$	325,493	$	134,758	$	26,135
Restricted cash		210		210		210		—
Total	$	39,184	$	325,703	$	134,968	$	26,135

Leases

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

7. Leases

In January 2020, we entered into an office lease agreement for our corporate offices in San Diego, California. This agreement was originally scheduled to commence in May 2020 but was subsequently amended with an amended commencement date of August 1, 2020 and an extended lease expiration date of November 30, 2025. We refer to such office lease agreement, as amended, as the San Diego Lease. The San Diego Lease provides for a one-time option to extend for a period of five additional years. The monthly base rent was approximately $58,000 for the first year, with such amount increasing by 3.0% per year over the initial term. In addition, the San Diego Lease is subject to charges for common area maintenance and other costs. The San Diego Lease provided a four-month rent abatement period during the first year and approximately $1.0 million in reimbursements for allowable tenant improvements, which effectively reduced the total lease payments owed for the San Diego Lease. For accounting purposes, the lease commencement date was determined to be March 2020 when we had control of the office space. We recorded an operating lease right-of-use, or ROU, asset and operating lease liability of approximately $2.2 million on our unaudited condensed balance sheet on the lease commencement date during the quarter ended March 31, 2020.

In March 2020, we entered into a lease agreement for office space in Boston, Massachusetts, or the Boston Lease, which commenced on April 1, 2020 and expires on July 31, 2024. The Boston Lease provides for a one-time option to extend the Boston Lease for a period of five additional years after the expiration of the initial lease term. Under the terms of the Boston Lease, monthly base rent was approximately $105,500 for the first year, subject to an annual fixed percentage increase of 2.0%

on April 1^st of each year. In addition, we are obligated to pay for common area maintenance and other costs. Under the terms of the Boston Lease, we are required to maintain a standby letter of credit of approximately $0.2 million during the term of the lease. We recorded an operating lease ROU asset and operating lease liability of approximately $5.1 million on our unaudited condensed balance sheet on the lease commencement date during the quarter ended June 30, 2020.

In May 2020, we entered into a two-year sublease agreement, or the Sublease, for certain designated lab space in San Diego, California. The Sublease commenced on June 9, 2020. In May 2021, the Sublease was amended to modify the lease expiration date to August 9, 2021, with the monthly base rent increased from approximately $12,500 to approximately $16,000 effective June 2021. We are not obligated to pay for common area maintenance and other costs. We recorded an operating lease ROU asset and operating lease liability of approximately $0.3 million on our unaudited condensed balance sheet on the lease commencement date during the quarter ended June 30, 2020.

In May 2021, we entered into an operating lease agreement for lab and office space in San Diego, California, or the Morehouse Lease, which is anticipated to commence on August 10, 2021 and expires on August 31, 2025. Under the terms of the Morehouse Lease, the monthly base rent is approximately $24,000 for the first year, subject to an annual fixed percentage increase of 3% each year. The Morehouse Lease provides approximately $106,000 in reimbursements for allowable tenant improvements, which effectively reduce the total lease payments owed for the Morehouse Lease. The property is undergoing renovations for tenant improvements to install certain lab and office space upgrades. We are obligated to pay for common area maintenance and other costs associated with the Morehouse Lease. For accounting purposes, the lease commencement date is estimated to be July 2021 when we expect to have control of the lab and office space.

Maturities of lease liabilities as of June 30, 2021 are as follows, in thousands:

Year Ending December 31,
2021 (remaining)	$	1,022
2022		2,032
2023		2,080
2024		1,558
2025		722
Total lease payments		7,414
Less: imputed interest		(678	)
Total operating lease liabilities	$	6,736

As of June 30, 2021 and December 31, 2020, total operating lease ROU assets were $5.4 million and $6.3 million, respectively. As of June 30, 2021, total operating lease liabilities were $6.7 million, of which $4.8 million were recorded as long-term lease liabilities. As of December 31, 2020, total operating lease liabilities were $7.7 million, of which $5.6 million were recorded as long-term lease liabilities. As of June 30, 2021 and December 31, 2020, the weighted-average discount rate was 5.5%, and the weighted-average remaining lease term was 3.7 years and 4.1 years, respectively.

Total cash paid for amounts included in the measurement of operating lease liabilities was $1.1 million for the six months ended June 30, 2021 and $0.1 million, net of tenant improvement reimbursements, for the six months ended June 30, 2020. There were no ROU assets obtained in exchange for operating lease liabilities for the six months ended June 30, 2021. ROU assets obtained in exchange for operating lease liabilities were $7.5 million for the six months ended June 30, 2020.

Total operating lease expense was approximately $0.5 million and $0.6 million for the three months ended June 30, 2021 and 2020, respectively. Total operating lease expense was approximately $1.0 million and $0.7 million for the six months ended June 30, 2021 and 2020, respectively. We have also entered into short-term operating leases which expired in 2020 that are not recorded on the unaudited condensed balance sheets. Total rent expense for the three months ended June 30, 2021 and 2020 was approximately $0.5 million and $0.6 million, respectively.

Total rent expense for the six months ended June 30, 2021 and 2020 was approximately $1.0 million and $0.9 million, respectively.

Balance Sheet Detail - Summary of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accounts payable	$ 2,404	$ 2,753
Accrued clinical trial research and development expenses	3,397	4,080
Accrued other research and development expenses	6,545	5,581
Accrued compensation and benefits	5,303	7,016
Operating lease liability, current portion	1,981	2,089
Other accrued expenses	1,660	1,505
Total accounts payable and accrued expenses	$ 21,290	$ 23,024

Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair Value Measurements

As of June 30, 2021 and December 31, 2020, we had cash equivalents and short-term investments measured at fair value on a recurring basis.

Available-for-sale marketable securities consisted of U.S. Treasury securities, which are measured at fair value using Level 1 inputs, and corporate debt securities, commercial paper, non-U.S. government debt securities, supranational debt securities and U.S. Agency bonds, which are measured at fair value using Level 2 inputs. We determine the fair value of Level 2 related securities with the aid of valuations provided by third parties using proprietary valuation models and analytical tools. These valuation models and analytical tools use market pricing or prices for similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. We validate the fair values of Level 2 financial instruments by comparing these fair values to a third-party pricing source.

The following tables summarize, by major security type, our cash equivalents and short-term investments that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy, in thousands:

	June 30, 2021
	Total		Level 1		Level 2
Cash equivalents:
Money market funds	$	37,471	$	37,471	$	—

Short-term investments:
Corporate debt securities		202,174	—			202,174
U.S. Treasury securities		160,783		160,783		—
Commercial paper		133,427	—			133,427
Non-U.S. government and supranational debt securities		23,159		—		23,159
U.S. Agency bonds		8,977		—		8,977
Total short-term investments		528,520		160,783		367,737
Total	$	565,991	$	198,254	$	367,737

	December 31, 2020
	Total		Level 1		Level 2
Cash equivalents:
Money market funds	$	311,239	$	311,239	$	—
Commercial paper		5,998		—		5,998
Total cash equivalents		317,237		311,239		5,998

Short-term investments:
Corporate debt securities		113,020		—		113,020
U.S. Treasury securities		88,457		88,457		—
Commercial paper		106,350		—		106,350
Total short-term investments		307,827		88,457		219,370
Total	$	625,064	$	399,696	$	225,368

Leases - Additional Information (Detail)	1 Months Ended				3 Months Ended		6 Months Ended
Leases - Additional Information (Detail)	May 31, 2021 USD ($)	May 31, 2020 USD ($) Option	Mar. 31, 2020 USD ($) Option	Jan. 31, 2020	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Lessee Lease Description [Line Items]
Operating lease right-of-use assets					$ 5,443,000		$ 5,443,000		$ 6,334,000
Operating leases, liability					6,736,000		6,736,000		7,700,000
Long-term operating lease liabilities					$ 4,755,000		$ 4,755,000		$ 5,638,000
Weighted-average discount rate					5.50%		5.50%		5.50%
Weighted-average remaining lease term					3 years 8 months 12 days		3 years 8 months 12 days		4 years 1 month 6 days
Total cash paid for amounts included in the measurement of lease liabilities							$ 1,100,000	$ 100,000
ROU assets obtained in exchange for operating lease liabilities							0	7,500,000
Total operating lease rent expense					$ 500,000	$ 600,000	1,000,000.0	900,000
ASC 842
Lessee Lease Description [Line Items]
Total operating lease rent expense					$ 500,000	600,000	$ 1,000,000.0	700,000
San Diego Lease
Lessee Lease Description [Line Items]
Lease commencement date				May 31, 2020
Lease commencement amendment date		Aug. 01, 2020
Lease extended expiration date		Nov. 30, 2025
Operating lease, existence of option to extend		true
Description of operating lease, option to extend		a one-time option to extend for a period of five additional years.
Number of options to extend lease \| Option		1
Lease agreement additional extended lease term		5 years
Lease, monthly minimum rent payable		$ 58,000
Operating lease rate of increase in annual rent		3.00%
Lease allowance		$ 1,000,000.0
Operating lease right-of-use assets			$ 2,200,000
Operating leases, liability			$ 2,200,000
Boston Lease
Lessee Lease Description [Line Items]
Lease commencement date			Apr. 01, 2020
Operating lease, existence of option to extend			true
Description of operating lease, option to extend			one-time option to extend the Boston Lease for a period of five additional years after the expiration of the initial lease term
Number of options to extend lease \| Option			1
Lease agreement additional extended lease term			5 years
Lease, monthly minimum rent payable			$ 105,500
Operating lease rate of increase in annual rent			2.00%
Operating lease right-of-use assets						5,100,000		5,100,000
Operating leases, liability						5,100,000		5,100,000
Lease expiration date			Jul. 31, 2024
Boston Lease \| Letter of Credit
Lessee Lease Description [Line Items]
Letter of Credit			$ 200,000
Sublease
Lessee Lease Description [Line Items]
Operating lease right-of-use assets						300,000		300,000
Operating leases, liability						$ 300,000		$ 300,000
Lease expiration date	Aug. 09, 2021
Sublease commencement date		Jun. 09, 2020
Sublease term		2 years
Sublease \| One Year
Lessee Lease Description [Line Items]
Lease, monthly minimum rent payable	$ 16,000	$ 12,500
Morehouse Lease
Lessee Lease Description [Line Items]
Lease commencement date	Aug. 10, 2021
Lease, monthly minimum rent payable	$ 24,000
Operating lease rate of increase in annual rent	3.00%
Lease allowance	$ 106,000
Lease expiration date	Aug. 31, 2025

Share-Based Compensation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Expense	$ 58.5
Weighted average service period	2 years 9 months 18 days
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Expense	$ 5.3
Weighted average service period	3 years 7 months 6 days

Fair Value Measurements - Schedule Of Fair Value Measurements, By Major Security Type (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 528,520	$ 307,827
Fair Value Measurements on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		317,237
Short-term investments	528,520	307,827
Cash equivalents and short-term investments	565,991	625,064
Fair Value Measurements on Recurring Basis \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		311,239
Short-term investments	160,783	88,457
Cash equivalents and short-term investments	198,254	399,696
Fair Value Measurements on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		5,998
Short-term investments	367,737	219,370
Cash equivalents and short-term investments	367,737	225,368
Fair Value Measurements on Recurring Basis \| Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	37,471	311,239
Fair Value Measurements on Recurring Basis \| Money Market Funds \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	37,471	311,239
Fair Value Measurements on Recurring Basis \| Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		5,998
Short-term investments	133,427	106,350
Fair Value Measurements on Recurring Basis \| Commercial Paper \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		5,998
Short-term investments	133,427	106,350
Fair Value Measurements on Recurring Basis \| Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	202,174	113,020
Fair Value Measurements on Recurring Basis \| Corporate Debt Securities \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	202,174	113,020
Fair Value Measurements on Recurring Basis \| U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	160,783	88,457
Fair Value Measurements on Recurring Basis \| U.S. Treasury Securities \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	160,783	$ 88,457
Fair Value Measurements on Recurring Basis \| Non U S Government And Supranational Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	23,159
Fair Value Measurements on Recurring Basis \| Non U S Government And Supranational Debt Securities \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	23,159
Fair Value Measurements on Recurring Basis \| U S Agency Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	8,977
Fair Value Measurements on Recurring Basis \| U S Agency Bonds \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 8,977

Investments

6 Months Ended

Jun. 30, 2021

Investments All Other Investments [Abstract]

Investments

3. Investments

We invest in available-for-sale securities consisting of money market funds, corporate debt securities, U.S. Treasury securities, commercial paper, non-U.S. government debt securities, supranational debt securities and U.S. Agency bonds. Available-for-sale securities are classified as part of either cash and cash equivalents or short-term investments on our unaudited condensed balance sheets.

The following tables summarize, by major security type, our short-term investments that are measured at fair value on a recurring basis, in thousands:

		June 30, 2021
	Maturities (years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	1 or less	$	37,471	$	—	$	—		$	37,471

Short-term investments:
Corporate debt securities	3 or less		202,294		33		(153	)		202,174
U.S. Treasury securities	3 or less		160,877		18		(112	)		160,783
Commercial paper	1 or less		133,427		—		—			133,427
Non-U.S. government and supranational debt securities	3 or less		23,180		—		(21	)		23,159
U.S. Agency bonds	2 or less		8,992		—		(15	)		8,977
Total short-term investments			528,770		51		(301	)		528,520
Total		$	566,241	$	51	$	(301	)	$	565,991

		December 31, 2020
	Maturities (years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	1 or less	$	311,239	$	—	$	—		$	311,239
Commercial paper	1 or less		5,998		—		—			5,998
Total cash equivalents			317,237		—		—			317,237

Short-term investments:
Corporate debt securities	2 or less		113,020		36		(36	)		113,020
U.S. Treasury securities	1 or less		88,409		50		(2	)		88,457
Commercial paper	1 or less		106,350		—		—			106,350
Total short-term investments			307,779		86		(38	)		307,827
Total		$	625,016	$	86	$	(38	)	$	625,064

Short-term investments are classified as current assets, even though the stated maturity date may be one year or more beyond the current balance sheet date, which reflects management’s intention to use the proceeds from sales of these securities to fund our operations, as necessary. As of June 30, 2021 and December 31, 2020, short-term investments of $282.5 million and $242.6 million, respectively, had maturities less than one year, and short-term investments of $246.0 million and $65.2 million, respectively, had maturities between one to three years. We had no realized gains or losses for the three and six months ended June 30, 2021.

As of June 30, 2021, 20 available-for-sale debt securities with a fair market value of $200.3 million were in gross unrealized loss positions, none of which were in such position for greater than 12 months. We do not intend to sell these available-for-sale debt securities, and it is not more likely than not that we will be required to sell these securities prior to recovery of their amortized cost basis. Based on our review of these available-for-sale debt securities, none of the unrealized losses is the result of a credit loss. As such, we have no allowance for credit losses as of June 30, 2021 and December 31, 2020. Unrealized gains and losses that are not credit-related are included in accumulated other comprehensive income (loss).

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Share-based Compensation Expense

The following table summarizes share-based compensation expense for all share-based compensation arrangements, in thousands:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Research and development	$	1,847	$	445	$	3,218	$	1,615
General and administrative		4,146		2,107		7,850		4,090
Total share-based compensation expense	$	5,993	$	2,552	$	11,068	$	5,705

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 38,974	$ 325,493
Short-term investments	528,520	307,827
Prepaid expenses and other current assets	6,138	3,972
Total current assets	573,632	637,292
Property and equipment, net	2,300	2,021
Restricted cash	210	210
Operating lease right-of-use assets	5,443	6,334
Other long-term assets	3,306	1,355
Total assets	584,891	647,212
Current liabilities:
Accounts payable and accrued expenses	21,290	23,024
Current portion of long-term debt		3,000
Total current liabilities	21,290	26,024
Long-term debt		4,250
Long-term operating lease liabilities	4,755	5,638
Other long-term liabilities	295	395
Total liabilities	26,340	36,307
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000 shares authorized; no shares issued and outstanding
Common stock, $0.0001 par value; 200,000 shares authorized; 66,296 and 66,194 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	7	7
Additional paid-in capital	925,796	913,354
Accumulated other comprehensive income (loss)	(393)	46
Accumulated deficit	(366,859)	(302,502)
Total stockholders' equity	558,551	610,905
Total liabilities and stockholders' equity	$ 584,891	$ 647,212

Share-Based Compensation - Summary of Share-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 5,993	$ 2,552	$ 11,068	$ 5,705
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	1,847	445	3,218	1,615
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 4,146	$ 2,107	$ 7,850	$ 4,090

Balance Sheet Detail (Tables)

6 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Summary of Property and Equipment

Property and equipment consisted of the following, in thousands:

	June 30, 2021			December 31, 2020
Leasehold improvements	$	1,278		$	1,169
Furniture and fixtures		987			862
Computer software and equipment and laboratory equipment		553			276
Property and equipment, gross		2,818			2,307
Less: accumulated depreciation		(518	)		(286	)
Property and equipment, net	$	2,300		$	2,021

Summary of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following, in thousands:

	June 30, 2021		December 31, 2020
Accounts payable	$	2,404	$	2,753
Accrued clinical trial research and development expenses		3,397		4,080
Accrued other research and development expenses		6,545		5,581
Accrued compensation and benefits		5,303		7,016
Operating lease liability, current portion		1,981		2,089
Other accrued expenses		1,660		1,505
Total accounts payable and accrued expenses	$	21,290	$	23,024

Condensed Statements of Operations and Comprehensive Loss (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Income Statement [Abstract]
Research and development, related party	$ 63	$ 195
General and administrative, related party	$ 76	$ 187

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	66,296,000	66,194,000
Common stock, shares outstanding	66,296,000	66,194,000

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 02, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Trading Symbol	KURA
Entity Registrant Name	KURA ONCOLOGY, INC.
Entity Central Index Key	0001422143
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		66,295,508
Entity File Number	001-37620
Entity Tax Identification Number	61-1547851
Entity Address, Address Line One	12730 High Bluff Drive
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	500-8800
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Long-Term Debt

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Long-Term Debt

6. Long-Term Debt

In November 2018, we entered into a loan and security agreement with Silicon Valley Bank, or the SVB Loan Agreement, providing for up to $20.0 million in a series of term loans. Upon entering into the SVB Loan Agreement, we borrowed $7.5 million, or the Term Loan. The Term Loan had a scheduled maturity date of May 1, 2023. In May 2021, we paid $6.6 million to repay all amounts owed under the Term Loan, which included a final payment of $0.6 million, representing 7.75% of the Term Loan which was being accrued through interest expense using the effective interest method, and a prepayment fee of $30,000. In accordance with ASC 470-50, Debt Modifications and Extinguishments, we accounted for the transaction as an extinguishment of debt. Accordingly, we recorded a loss of approximately $0.2 million for each of the three and six months ended June 30, 2021, which is included in interest expense on the unaudited condensed statements of operations and comprehensive loss.

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2021	Jun. 30, 2021	Jun. 30, 2021	May 03, 2021	Nov. 01, 2018
Debt Instrument [Line Items]
Payment of fees related to extinguishment of debt			$ 611
Loss on extinguishment of debt			$ (212)
Silicon Valley Bank \| Term Loan
Debt Instrument [Line Items]
Principal amount outstanding on loan					$ 7,500
Maximum borrowing capacity under term loans					$ 20,000
Term loan facility maturity date			May 01, 2023
Description of term loan payment terms			The Term Loan had a scheduled maturity date of May 1, 2023.
Repayments Of Debt	$ 6,600
Final Payment Amount	600
Debt Instrument Interest Rate Stated Percentage				7.75%
Payment of fees related to extinguishment of debt	$ 30,000
Loss on extinguishment of debt		$ 200	$ 200

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Reclassifications

Certain prior period balances have been reclassified to conform to the current period presentation.

Restricted Cash

Under the terms of an office lease entered into in March 2020, we are required to maintain a standby letter of credit during the term of the lease. As of June 30, 2021, restricted cash of $0.2 million was pledged as collateral for the letter of credit.

	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
Cash and cash equivalents	$	38,974	$	325,493	$	134,758	$	26,135
Restricted cash		210		210		210		—
Total	$	39,184	$	325,703	$	134,968	$	26,135

Allowance for Credit Losses on Available-for-Sale Debt Securities

Allowance for Credit Losses

For available-for-sale debt securities in an unrealized loss position, we first assess whether we intend to sell, or it is more likely than not that we will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through earnings. For available-for-sale debt securities that do not meet the aforementioned criteria, we evaluate whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, we consider the severity of the impairment, any changes in interest rates, changes to the underlying credit ratings and forecasted recovery, among other factors. The credit-related portion of unrealized losses, and any subsequent improvements, are recorded in interest income through an allowance account. Any impairment that has not been recorded through an allowance for credit losses is included in other comprehensive income (loss) on the unaudited condensed statements of operations and comprehensive loss.

Concentration of Credit Risk

Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. We maintain deposits in federally insured financial institutions in excess of federally insured limits. We have established guidelines to limit our exposure to credit risk by placing investments with high credit quality financial institutions, diversifying our investment portfolio and placing investments with maturities that maintain safety and liquidity. We periodically review and modify these guidelines to maximize trends in yields and interest rates without compromising safety and liquidity.

Net Loss per Share

Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common shares and common stock equivalents outstanding for the period determined using the treasury-stock method. Common stock equivalents outstanding are comprised of stock options, restricted stock units, a warrant and employee stock purchase plan rights and are only included in the calculation of diluted earnings per common share when net income is reported and their effect is dilutive. Because of our net loss for the three and six months ended June 30, 2021 and 2020, common stock equivalents outstanding at June 30, 2021 and 2020 totaling approximately 7,002,000 and 5,141,000, respectively, were excluded from the calculation of diluted net loss per common share because their effect was anti-dilutive.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that we adopt as of the specified effective date. We have evaluated recently issued accounting pronouncements and, based on our preliminary assessment, we do not believe any will have a material impact on our unaudited condensed financial statements or related footnote disclosures.

Investments - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($) security	Dec. 31, 2020 USD ($)
Investments All Other Investments [Abstract]
Short-term investments with maturities less than one year	$ 282,500	$ 242,600
Short-term investments with maturities between one to three years	$ 246,000	65,200
Short-term investments maturities, description	As of June 30, 2021 and December 31, 2020, short-term investments of $282.5 million and $242.6 million, respectively, had maturities less than one year, and short-term investments of $246.0 million and $65.2 million, respectively, had maturities between one to three years.
Available for sale debt securities allowance for credit losses	$ 0
Allowance for credit losses	0	$ 0
Available for sale debt securities gross unrealized loss positions for less than twelve months	$ 200,300
Number of available-for-sale securities \| security	20

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule Of Fair Value Measurements, By Major Security Type

	June 30, 2021
	Total		Level 1		Level 2
Cash equivalents:
Money market funds	$	37,471	$	37,471	$	—

Short-term investments:
Corporate debt securities		202,174	—			202,174
U.S. Treasury securities		160,783		160,783		—
Commercial paper		133,427	—			133,427
Non-U.S. government and supranational debt securities		23,159		—		23,159
U.S. Agency bonds		8,977		—		8,977
Total short-term investments		528,520		160,783		367,737
Total	$	565,991	$	198,254	$	367,737

	December 31, 2020
	Total		Level 1		Level 2
Cash equivalents:
Money market funds	$	311,239	$	311,239	$	—
Commercial paper		5,998		—		5,998
Total cash equivalents		317,237		311,239		5,998

Short-term investments:
Corporate debt securities		113,020		—		113,020
U.S. Treasury securities		88,457		88,457		—
Commercial paper		106,350		—		106,350
Total short-term investments		307,827		88,457		219,370
Total	$	625,064	$	399,696	$	225,368

Investments - Investments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Short-term investments, Fair Value	$ 528,520	$ 307,827
Fair Value Measurements on Recurring Basis
Schedule Of Available For Sale Securities [Line Items]
Cash equivalents, Amortized Cost		317,237
Cash equivalents, Fair Value		317,237
Short-term investments, Amortized Cost	528,770	307,779
Short-term investments, Unrealized Gains	51	86
Short-term investments, Unrealized Losses	(301)	(38)
Short-term investments, Fair Value	528,520	307,827
Cash equivalents and Short-term investments, Amortized Cost	566,241	625,016
Cash equivalents and Short-term investments, Unrealized Gains	51	86
Cash equivalents and Short-term investments, Unrealized Losses	(301)	(38)
Cash equivalents and Short-term investments, Estimated Fair Value	$ 565,991	$ 625,064
Fair Value Measurements on Recurring Basis \| Money Market Funds
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	1 or less	1 or less
Cash equivalents, Amortized Cost	$ 37,471	$ 311,239
Cash equivalents, Fair Value	$ 37,471	$ 311,239
Fair Value Measurements on Recurring Basis \| Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)		1 or less
Cash equivalents, Amortized Cost		$ 5,998
Cash equivalents, Fair Value		$ 5,998
Maturities (years)	1 or less	1 or less
Short-term investments, Amortized Cost	$ 133,427	$ 106,350
Short-term investments, Fair Value	$ 133,427	$ 106,350
Fair Value Measurements on Recurring Basis \| Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	3 or less	2 or less
Short-term investments, Amortized Cost	$ 202,294	$ 113,020
Short-term investments, Unrealized Gains	33	36
Short-term investments, Unrealized Losses	(153)	(36)
Short-term investments, Fair Value	$ 202,174	$ 113,020
Fair Value Measurements on Recurring Basis \| U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	3 or less	1 or less
Short-term investments, Amortized Cost	$ 160,877	$ 88,409
Short-term investments, Unrealized Gains	18	50
Short-term investments, Unrealized Losses	(112)	(2)
Short-term investments, Fair Value	$ 160,783	$ 88,457
Fair Value Measurements on Recurring Basis \| Non U S Government And Supranational Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	3 or less
Short-term investments, Amortized Cost	$ 23,180
Short-term investments, Unrealized Losses	(21)
Short-term investments, Fair Value	$ 23,159
Fair Value Measurements on Recurring Basis \| U.S. Agency Bonds
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	2 or less
Short-term investments, Amortized Cost	$ 8,992
Short-term investments, Unrealized Losses	(15)
Short-term investments, Fair Value	$ 8,977

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating Expenses:
Research and development (includes related party amounts of nil and $63 for the three months ended June 30, 2021 and 2020, respectively, and nil and $195 for the six months ended June 30, 2021 and 2020, respectively)	$ 21,074	$ 13,697	$ 41,398	$ 26,272
General and administrative (includes related party amounts of nil and $76 for the three months ended June 30, 2021 and 2020, respectively, and nil and $187 for the six months ended June 30, 2021 and 2020, respectively)	12,573	7,476	23,145	15,101
Total operating expenses	33,647	21,173	64,543	41,373
Other Income (Expense):
Interest and other income, net	290	830	600	1,964
Interest expense	(306)	(144)	(414)	(288)
Total other income (expense)	(16)	686	186	1,676
Net Loss	$ (33,663)	$ (20,487)	$ (64,357)	$ (39,697)
Net loss per share, basic and diluted	$ (0.51)	$ (0.40)	$ (0.97)	$ (0.82)
Weighted average number of shares used in computing net loss per share, basic and diluted	66,282	51,633	66,250	48,522
Comprehensive Loss:
Net loss	$ (33,663)	$ (20,487)	$ (64,357)	$ (39,697)
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities and foreign currency	(311)	(4)	(439)	226
Comprehensive Loss	$ (33,974)	$ (20,491)	$ (64,796)	$ (39,471)

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities
Net loss	$ (64,357)	$ (39,697)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	11,068	5,705
Non-cash interest expense	399
Loss on extinguishment of debt	212
Depreciation expense	232	12
Amortization of premium and accretion of discounts on marketable securities, net	1,987	(134)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(2,166)	(367)
Other long-term assets	(1,178)	533
Accounts payable and accrued expenses	(2,688)	(537)
Other long-term liabilities	(100)	(71)
Net cash used in operating activities	(56,591)	(34,556)
Investing Activities
Purchases of marketable securities	(353,088)	(96,818)
Maturities of marketable securities	129,969	103,823
Purchases of property and equipment	(322)	(1,231)
Net cash (used in) provided by investing activities	(223,441)	5,774
Financing Activities
Repayment of long-term debt	(7,250)
Payment of fees related to extinguishment of debt	(611)
Proceeds from exercises of stock options and purchases under employee stock purchase plan	1,374	2,435
Proceeds from issuance of common stock, net		135,180
Net cash (used in) provided by financing activities	(6,487)	137,615
Net (decrease) increase in cash, cash equivalents and restricted cash	(286,519)	108,833
Cash, cash equivalents and restricted cash at beginning of period	325,703	26,135
Cash, cash equivalents and restricted cash at end of period	$ 39,184	$ 134,968

Balance Sheet Detail

6 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Detail

5. Balance Sheet Detail

Property and equipment consisted of the following, in thousands:

	June 30, 2021			December 31, 2020
Leasehold improvements	$	1,278		$	1,169
Furniture and fixtures		987			862
Computer software and equipment and laboratory equipment		553			276
Property and equipment, gross		2,818			2,307
Less: accumulated depreciation		(518	)		(286	)
Property and equipment, net	$	2,300		$	2,021

Accounts payable and accrued expenses consisted of the following, in thousands:

	June 30, 2021		December 31, 2020
Accounts payable	$	2,404	$	2,753
Accrued clinical trial research and development expenses		3,397		4,080
Accrued other research and development expenses		6,545		5,581
Accrued compensation and benefits		5,303		7,016
Operating lease liability, current portion		1,981		2,089
Other accrued expenses		1,660		1,505
Total accounts payable and accrued expenses	$	21,290	$	23,024

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

1. Organization and Basis of Presentation

The Company

Kura Oncology, Inc. is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. Our pipeline consists of small molecule product candidates that target cancer signaling pathways where there is a strong scientific and clinical rationale to improve outcomes, and we intend to pair them with molecular or cellular diagnostics to identify those patients most likely to respond to treatment. We plan to advance our product candidates through a combination of internal development and strategic partnerships while maintaining significant development and commercial rights.

References in these Notes to Unaudited Condensed Financial Statements to the “Company,” “we,” “our” or “us,” refer to Kura Oncology, Inc.

Basis of Presentation

The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the Securities and Exchange Commission on February 24, 2021, from which we derived our balance sheet as of December 31, 2020. The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying unaudited condensed financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying unaudited condensed financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of our management, necessary to a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year.

The preparation of the unaudited condensed financial statements in accordance with GAAP requires our management to make estimates and assumptions that affect the amounts reported on our unaudited condensed financial statements and accompanying notes. The amounts reported could differ under different estimates and assumptions. On an ongoing basis, we evaluate our estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. Though the impact of the COVID-19 pandemic to our business and operating results presents additional uncertainty, we continue to use the best information available to inform our critical accounting estimates. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.

The extent to which the COVID-19 pandemic has impacted and may continue to impact our business will depend on future developments, which are highly uncertain and cannot be predicted with any confidence, such as the duration and severity of the COVID-19 pandemic, steps required or mandated by governments to mitigate the impact of COVID-19 or the effectiveness of actions to prevent, contain and treat COVID-19, particularly in the geographies where we, our third party manufacturers, contract research organizations or current and planned clinical trial sites operate. We cannot presently predict the scope and severity of any potential business disruptions, interruptions or shutdowns. If we or any of the third parties with whom we engage, however, were to experience shutdowns or other business disruptions, our ability to conduct our business in the manner and on the timelines presently planned could be materially and negatively affected, which could have a material adverse impact on our business and our results of operations and financial condition.

Share-Based Compensation

6 Months Ended

Jun. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

8. Share-Based Compensation

The following table summarizes share-based compensation expense for all share-based compensation arrangements, in thousands:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Research and development	$	1,847	$	445	$	3,218	$	1,615
General and administrative		4,146		2,107		7,850		4,090
Total share-based compensation expense	$	5,993	$	2,552	$	11,068	$	5,705

During 2021, we began issuing restricted stock units, or RSUs. As of June 30, 2021, unrecognized estimated compensation expense related to stock options and RSUs was approximately $58.5 million and $5.3 million, respectively, which is expected to be recognized over a weighted average period of approximately 2.8 years and 3.6 years, respectively.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Reclassifications

Certain prior period balances have been reclassified to conform to the current period presentation.

Restricted Cash

	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
Cash and cash equivalents	$	38,974	$	325,493	$	134,758	$	26,135
Restricted cash		210		210		210		—
Total	$	39,184	$	325,703	$	134,968	$	26,135

Allowance for Credit Losses

Concentration of Credit Risk

Net Loss per Share

Recent Accounting Pronouncements

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid- In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2019	$ 218,781	$ 5	$ 431,322	$ 331	$ (212,877)
Beginning balance (in shares) at Dec. 31, 2019		45,384
Issuance of common stock, net of offering costs	134,924	$ 1	134,923
Issuance of common stock, net of offering costs, (in shares)		10,465
Share-based compensation expense	5,705		5,705
Issuance of common stock from exercises of options and employee stock purchase plan	2,435		2,435
Issuance of common stock from exercises of options and employee stock purchase plan (in shares)		365
Other comprehensive income (loss)	226			226
Net loss	(39,697)				(39,697)
Ending balance at Jun. 30, 2020	322,374	$ 6	574,385	557	(252,574)
Ending balance (in shares) at Jun. 30, 2020		56,214
Beginning balance at Mar. 31, 2020	203,201	$ 5	434,722	561	(232,087)
Beginning balance (in shares) at Mar. 31, 2020		45,430
Issuance of common stock, net of offering costs	134,924	$ 1	134,923
Issuance of common stock, net of offering costs, (in shares)		10,465
Share-based compensation expense	2,552		2,552
Issuance of common stock from exercises of options and employee stock purchase plan	2,188		2,188
Issuance of common stock from exercises of options and employee stock purchase plan (in shares)		319
Other comprehensive income (loss)	(4)			(4)
Net loss	(20,487)				(20,487)
Ending balance at Jun. 30, 2020	322,374	$ 6	574,385	557	(252,574)
Ending balance (in shares) at Jun. 30, 2020		56,214
Beginning balance at Dec. 31, 2020	610,905	$ 7	913,354	46	(302,502)
Beginning balance (in shares) at Dec. 31, 2020		66,194
Share-based compensation expense	11,068		11,068
Issuance of common stock from exercises of options and employee stock purchase plan	1,374		1,374
Issuance of common stock from exercises of options and employee stock purchase plan (in shares)		102
Other comprehensive income (loss)	(439)			(439)
Net loss	(64,357)				(64,357)
Ending balance at Jun. 30, 2021	558,551	$ 7	925,796	(393)	(366,859)
Ending balance (in shares) at Jun. 30, 2021		66,296
Beginning balance at Mar. 31, 2021	585,987	$ 7	919,258	(82)	(333,196)
Beginning balance (in shares) at Mar. 31, 2021		66,263
Share-based compensation expense	5,993		5,993
Issuance of common stock from exercises of options and employee stock purchase plan	545		545
Issuance of common stock from exercises of options and employee stock purchase plan (in shares)		33
Other comprehensive income (loss)	(311)			(311)
Net loss	(33,663)				(33,663)
Ending balance at Jun. 30, 2021	$ 558,551	$ 7	$ 925,796	$ (393)	$ (366,859)
Ending balance (in shares) at Jun. 30, 2021		66,296

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (c)
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Balance Sheet Detail - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 2,818	$ 2,307
Less: accumulated depreciation	(518)	(286)
Property and equipment, net	2,300	2,021
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	1,278	1,169
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	987	862
Computer Software and Equipment and Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 553	$ 276

Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 38,974	$ 325,493	$ 134,758	$ 26,135
Restricted cash	210	210	210
Total	$ 39,184	$ 325,703	$ 134,968	$ 26,135

Investments (Tables)

6 Months Ended

Jun. 30, 2021

Investments All Other Investments [Abstract]

Investments Measured at Fair Value on Recurring Basis

The following tables summarize, by major security type, our short-term investments that are measured at fair value on a recurring basis, in thousands:

		June 30, 2021
	Maturities (years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	1 or less	$	37,471	$	—	$	—		$	37,471

Short-term investments:
Corporate debt securities	3 or less		202,294		33		(153	)		202,174
U.S. Treasury securities	3 or less		160,877		18		(112	)		160,783
Commercial paper	1 or less		133,427		—		—			133,427
Non-U.S. government and supranational debt securities	3 or less		23,180		—		(21	)		23,159
U.S. Agency bonds	2 or less		8,992		—		(15	)		8,977
Total short-term investments			528,770		51		(301	)		528,520
Total		$	566,241	$	51	$	(301	)	$	565,991

		December 31, 2020
	Maturities (years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	1 or less	$	311,239	$	—	$	—		$	311,239
Commercial paper	1 or less		5,998		—		—			5,998
Total cash equivalents			317,237		—		—			317,237

Short-term investments:
Corporate debt securities	2 or less		113,020		36		(36	)		113,020
U.S. Treasury securities	1 or less		88,409		50		(2	)		88,457
Commercial paper	1 or less		106,350		—		—			106,350
Total short-term investments			307,779		86		(38	)		307,827
Total		$	625,016	$	86	$	(38	)	$	625,064

Leases - Schedule of Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (remaining)	$ 1,022
2022	2,032
2023	2,080
2024	1,558
2025	722
Total lease payments	7,414
Less: imputed interest	(678)
Total operating lease liabilities	$ 6,736	$ 7,700