0001193125-23-082258 | 10-K | XBRL Viewer

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Fair Value Measurement - Summary of Fair Value Of Private Warrants was Re-measured Based on the Assumptions (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price	$ 3.3	$ 18.62
Option term (years)	5 years 9 months 18 days	5 years 10 months 24 days
Volatility (annual)	85.10%	76.30%
Risk-free rate	2.80%	0.90%
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Dividend yield (per share)	0	0
Measurement Input, Share Price [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock price	$ 1.02	$ 10.19
Measurement Input, Exercise Price [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price	$ 11.5	$ 11.5
Measurement Input, Expected Term [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Option term (years)	3 years	4 years
Measurement Input, Price Volatility [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Volatility (annual)	73.70%	32.50%
Measurement Input, Risk Free Interest Rate [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk-free rate	4.10%	1.10%

Business Combination	12 Months Ended
Business Combination	Dec. 31, 2022
Business Combinations [Abstract]
Business Combination	3. Business Combination As discussed in Note 1, on December 23, 2020, the Company consummated the Business Combination, with Legacy Vincera Pharma surviving the merger as a wholly-owned subsidiary of the Company. Immediately prior to the effective time of the Business Combination, each share of Legacy Vincerx Pharma Common Stock was canceled, and the Legacy Holders received (i) 0.570895 shares of common stock, for each share of Vincera Pharma common stock held by them immediately prior to the effective time of the Business Combination and (ii) certain rights to Earnout Shares after the closing of the Business Combination. The Vincera Pharma stockholders are entitled to receive Earnout Shares if the daily volume-weighted average price of the Company’s common stock equals or exceeds the following prices for any 20 trading days within any 30 trading-day period following the closing of the Business Combination: (1) during any such trading period prior to the 42 month anniversary of the closing of the Business Combination, upon achievement of a daily volume-weighted average price of at least $20.00 per share, such number of shares of the Company’s common stock as equals the quotient of $20.0 million divided by the Closing Price Per Share; (2) during any such trading period prior to the six year anniversary of the closing, upon achievement of a daily volume-weighted average price of at least $35.00 per share, such number of shares of the Company’s common stock as equals the quotient of $20.0 million divided by the Closing Price Per Share; and (3) during any such trading period prior to the eight year anniversary of the closing, upon achievement of a daily volume-weighted average price of at least $45.00 per share, such number of shares of the Company’s common stock as equals the quotient of $20.0 million divided by the Closing Price Per Share. A total of 90.6% of (rounded to the nearest whole share) of the Earnout Shares then earned and issuable shall be issued to the Vincera Pharma stockholders on a pro-rata basis based on the percentage of the number of shares of Vincera Pharma common stock owned by them immediately prior to the closing of the Business Combination, and the remaining Earnout Shares that would otherwise have been issuable shall not be issuable to the Vincera Pharma stockholders but in lieu thereof the number of authorized shares available for issuance under the Company’s 2020 Stock Incentive Plan (the “2020 Plan”) shall be automatically increased by an equivalent number of shares of the Company’s common stock.

Income Taxes - Schedule of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Uncertainties [Abstract]
Unrecognized Tax Benefits	$ 518	$ 0
Unrecognized Tax Benefits, Increase Decrease Resulting From Prior Period Tax Positions	(164)	0
Unrecognized Tax Benefits, Increase Decrease Resulting From Current Period Tax Positions	625	518
Unrecognized Tax Benefits	$ 979	$ 518

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2022	Mar. 28, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	Vincerx Pharma, Inc.
Entity Central Index Key	0001796129
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 19.8
Entity Common Stock, Shares Outstanding		21,245,842
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-39244
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-3197402
Entity Address, Address Line One	260 Sheridan Avenue, Suite 400
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94306
City Area Code	650
Local Phone Number	800-6676
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	VINC
Security Exchange Name	NASDAQ
ICFR Auditor Attestation Flag	false
Auditor Name	WithumSmith+Brown, PC
Auditor Firm ID	100
Auditor Location	Whippany, New Jersey
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its 2023 Annual Meeting of Stockholders, which will be filed with the United States Securities and Exchange Commission within 120 days of December 31, 2022, are incorporated by reference into Part III of this Annual Report on Form 10-K .

Fair Value Measurement

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement

6. Fair Value Measurement

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (amounts in thousands):


	Fair Value Measured as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash Equivalents:
Money market funds	$	2,266	$	—	$	—	$	2,266
Commercial paper		—		4,496		—		4,496
Corporate debt securities		—		3,032		—		3,032
Short-term marketable securities:
Commercial paper		—		15,587		—		15,587
U.S. government treasuries		1,005		—		—		1,005
U.S. government agency securities		—		16,069		—		16,069
Corporate debt securities		—		8,135		—		8,135

Total cash equivalents and marketable securities	$	3,271	$	47,319	$	—	$	50,590

There were no

cash equivalents or marketable securities at December 31, 2021. The Company’s Level 2 securities are valued using third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly. There were no transfers of assets between Level 1, Level 2, or Level 3 during the year ended December 31, 2022 and 2021.


	Fair Value Measured as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Liabilities:
Common stock warrant liabilities	$	—	$	—	$	144	$	144

Total fair value	$	—	$	—	$	144	$	144


	Fair Value Measured as of December 31, 2021
	Level 1		Level 2		Level 3		Total
Liabilities:
Common stock warrant liabilities	$	—	$	—	$	6,447	$	6,447

Total fair value	$	—	$	—	$	6,447	$	6,447

The estimated fair value of the warrant liability for the private warrants at December 31, 2022 and 2021 was determined using Level 3 inputs. Inherent in a Monte Carlo options pricing model are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its ordinary shares based on its historical volatility for a time period that approximates the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury

zero-coupon

yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero. There were no changes to the number of private warrants underlying the Level 3 financial instruments during the year ended December 31, 2022. There were no transfers between Level 1, 2, or 3 during the years ended December 31, 2022 and 2021.

The following table presents changes in Level 3 liabilities measured at fair value for the year ended December 31, 2022 and 2021. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs (in thousands).


	Warrant Liability
Balance – January 1, 2021	$	32,308
Reclassification of warrant liabilities due to warrant exercises		(2,503	)
Change in fair value		(23,358	)

Balance – December 31, 2021		6,447
Change in fair value		(6,303	)

Balance – December 31, 2022	$	144

A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy as of December 31, 2022 and 2021 is as follows:


	As of December 31, 2022			As of December 31, 2021
Stock price	$	1.02		$	10.19
Exercise price	$	11.50		$	11.50
Option term (years)		3.0			4.0
Volatility (annual)		73.7	%		32.5	%
Risk-free rate		4.1	%		1.1	%
Dividend yield (per share)		0	%		0	%

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Details - Summary Of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued payroll	$ 297	$ 531
Accrued bonus	2,042	2,514
Accrued benefits	923	759
Accrued development milestone—Bayer	1,000	0
Accrued manufacturing, clinical trial and related	661	911
Total Accrued Liabilities	$ 4,923	$ 4,715

Balance Sheet Details

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Details

8. Balance Sheet Details

Other current assets consist of the following at December 31 (in thousands):


	December 31, 2022		December 31, 2021
German grant receivable	$	1,372	$	—
Clinical related vendor prepayments		1,560		—
Other		369		95

	$	3,301	$	95

Property, plant and equipment, net consist of the following at December 31 (in thousands):


	December 31, 2022			December 31, 2021			Estimated Useful Life
Furniture and fixtures	$	236		$	236			5 years
Computers		20			22			3-5 years

Total		256			258
Less: accumulated depreciation		(79	)		(25	)

Total property, plant and equipment, net	$	177		$	233

Depreciation expense was approximately $54,000 and $25,000 for the years ended December 31, 2022 and 2021, respectively.

The following table sets forth the components of accrued expenses at December 31, 2022 and 2021, respectively (in thousands):


	December 31, 2022		December 31, 2021
Accrued payroll	$	297	$	531
Accrued bonus		2,042		2,514
Accrued benefits		923		759
Accrued development milestone—Bayer		1,000		—
Accrued manufacturing, clinical trial and related		661		911

	$	4,923	$	4,715

Restructuring - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 04, 2022	Dec. 31, 2022	Dec. 31, 2021
Percentage of employees reduction	33.00%
Restructuring costs expected to be incurred through the year		$ 2,500
Share-based Payment Arrangement, Expense		12,439	$ 23,313
Employee Stock Option
Share-based Payment Arrangement, Expense		$ 500

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. Nature of Business LSAC was initially formed on December 19, 2018 as a Delaware corporation for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. In December 2020, the Merger Sub merged with and into Legacy Vincera Pharma, with Legacy Vincera Pharma surviving the Merger as a wholly- owned subsidiary of LSAC. In connection with the Business Combination, LSAC changed its name to Vincera Pharma, Inc., and subsequently in January 2021, changed its name to Vincerx Pharma, Inc. (together with its consolidated subsidiaries, the “Company”). The Company is a clinical-stage biopharmaceutical company focused on leveraging its extensive development and oncology expertise to advance new therapies intended to address unmet medical needs for the treatment of cancer. The Company’s current pipeline is entirely derived from the Bayer License Agreement (see Note 4), pursuant to which the Company has been granted an exclusive, royalty-bearing, worldwide license under certain Bayer patents and know-how to develop, use, manufacture, commercialize, sublicense, and distribute a clinical-stage and follow-on small molecule drug program and a preclinical stage bioconjugation platform, which includes next-generation antibody-drug conjugates and small molecule drug conjugates. The Company intends to use these product candidates to treat various cancers in a patient-specific, targeted approach. The Company’s business operations, and those of third parties with whom the Company conducts business, have been, and could continue to be, adversely affected by health pandemics and epidemics, including COVID-19, and by economic, business and political events, including inflation and the war in Ukraine. The extent to which these factors could continue to impact the Company’s business and operations will depend on future developments that are highly uncertain and cannot be predicted with confidence. Management continues to evaluate the impact of these factors on the Company’s current operations and future plans and intends to take appropriate measures to help alleviate their impact, but there can be no assurance that these efforts will be successful and that these factors will not continue to have a negative effect on the Company’s financial position and results of its operations.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

The Company has no provision for income taxes for the year ended December 31, 2022 and 2021. The Company has no current tax expense from losses and no deferred expense from the valuation allowance.

Income (loss) before provision for income taxes consisted of the following (amounts in thousands):

	For the Year Ended December 31,
	2022			2021
United States	$	(61,091	)	$	(39,394	)
International		(4,276	)		88

	$	(65,367	)	$	(39,306	)

The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows:


	For the Year Ended December 31,
	2022			2021
Statutory federal income tax rate		21.0	%		21.0	%
State taxes, net of federal tax benefit		0.7	%		(1.0	%)
Change in fair value of warrant liabilities		2.0	%		12.4	%
Research and development		(0.7	% )		1.4	%
Other		(0.1	% )		(1.2	%)
Change in valuation allowance		(22.9	% )		(32.6	%)

Income taxes provision (benefit)		0.0	%		0.0	%

Significant components of the Company’s net deferred tax assets as of December 31, 2022 and 2021, are as follows (amounts in thousands):


	As of December 31,
	2022			2021
Deferred tax assets:
Net operating loss	$	9,639		$	4,035
Stock-based compensation		6,620			5,164
Depreciation and amortization		4,198			4,723
Capitalized research and development		7,314			—
Research and development credit		1,635			891
Accruals and reserves		471			575
Lease liability		722			877

Total deferred income tax assets		30,599			16,265
Less: Valuation allowances		(29,955	)		(15,436	)

Deferred tax assets, net of valuation allowances	$	644		$	829

Deferred tax liabilities:
Right of use asset		(644	)		(829	)

Total deferred income tax liabilities	$	(644	)	$	(829	)

Net deferred taxes	$	—		$	—

ASC 740 requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Because of the Company’s recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a valuation allowance. The Company’s valuation allowance increased by

14.5

million and $

12.4

million for the years ended December 31, 2022 and 2021, respectively.

Effective for tax years beginning after December 31, 2021, taxpayers are required to capitalize any expenses incurred that are considered incidental to research and experimentation (R&E) activities under IRC Section 174. While taxpayers historically had the option of deducting these expenses under IRC Section 174, the December 2017 Tax Cuts and Jobs Act mandates capitalization and amortization of R&E expenses for tax years beginning after December 31, 2021. Expenses incurred in connection with R&E activities in the U.S. must be amortized over a five-year period and over a fifteen-year period if incurred outside the U.S. R&E activities are broader in scope than qualified research activities considered under IRC Section 41 (relating to the research tax credit). For the year ended December 31, 2022, the Company performed an analysis based on available guidance and determined that it will continue to be in a loss position even after the required capitalization and amortization of its R&E expenses. The Company will continue to monitor this issue for future developments, but it does not expect R&E capitalization and amortization to require it to pay cash taxes now or in the near future.

At December

31, 2022, the Company had federal and state net operating loss carryforwards of approximately $38.4 million and $0.7 million, respectively. The federal net operating loss carryforwards can be carried forward indefinitely, with certain limitations. A portion of the state net operating loss carryforwards will expire beginning in 2039, if not utilized.

As of December 31, 2022, the Company also has Federal and California research and development credits of $

1.8

million and $

1.0

million, respectively. The federal tax credit carryforwards will expire beginning in

2039

, if not utilized. The state tax credit carryforwards do not expire.

The following table summarizes activity related to the Company’s gross unrecognized tax benefits (amounts in thousands):


	Total
Balance as of December 31, 2020	$	—
Increase/decrease due to prior year positions		—
Increase/decrease due to current year positions		518

Balance as of December 31, 2021		518
Increase/decrease due to prior year positions		( 164	)
Increase/decrease due to current year positions		625

Balance as of December 31, 2022	$	979

The unrecognized tax benefits, if recognized, would not have an impact on the Company’s effective tax rate due to the valuation allowance. The Company does not expect a significant change to its unrecognized tax benefits over the next twelve months. The Company files income tax returns in the United States, California and Germany jurisdictions and is not currently under examination by federal, state or local taxing authorities for any open tax years. The tax

years

2019

through

2022

remain open to examination by the major taxing authorities. The Company records interest related to uncertain tax positions as interest, and any penalties are recorded as income tax expense in its consolidated statements of operations and comprehensive loss.

Utilization of net operating losses and tax credit carryforwards may be limited by the “ownership change” rules, as defined in Section 382 of the Internal Revenue Code (any such limitation, a “Section 382 limitation”). Similar rules may apply under state tax laws. The Company has not performed an analysis to determine whether an “ownership change” occurred from inception to December 31, 2022. If a change in ownership were to have occurred, additional net operating loss and tax credit carryforwards could be eliminated or restricted. If eliminated, the related asset would be removed from the deferred tax asset schedule with a corresponding reduction in the valuation allowance.

ASC

740-10,

“Income Taxes”, prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of uncertain tax positions taken or expected to be taken in the Company’s income tax return and also provides guidance on

de-recognition,

classification, interest and penalties, accounting in interim periods, disclosure, and transition.

On March 27, 2020 and December 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Consolidated Appropriation Act (CAA), respectively, which contain among other matters, numerous income tax provisions. Some of these tax provisions are expected to be effective retroactively for years ending before the date of enactment. The Company has evaluated the current legislation and does not anticipate the CARES Act or the CAA to have a material impact on its consolidated financial statements.

On June 29, 2020, California’s Governor Newsom signed AB85 suspending California net operating loss utilization and imposing a cap on the amount of business incentives tax credits (R&D credit) for tax years 2020-2022. Given an expected tax loss for 2022, the suspension does not have a material impact on the Company’s provision for income taxes in its consolidated financial statements.

In January 2018, the FASB released guidance on the accounting for tax on the global intangible

low-taxed

income (“GILTI”) provisions of the Tax Cuts and Jobs Act of 2017. The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The guidance indicates that either accounting for deferred taxes related to GILTI inclusions or treating any taxes on GILTI inclusions as period cost are both acceptable methods subject to an accounting policy election. The Company has elected to treat any potential GILTI inclusions as a period cost.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred stock shares authorized	30,000,000	30,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	120,000,000	120,000,000
Common stock shares issued	21,242,884	21,057,560
Common stock shares outstanding	21,242,884	21,057,560

Commitments and Contingencies - Summary of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Contractual Obligation, Fiscal Year Maturity [Abstract]
Year ended December 31, 2023	$ 1,261
Year ended December 31, 2024	1,284
Year ended December 31, 2025	1,336
Total	3,881
Less present value discount	(445)
Operating lease liabilities included in the Consolidated Balance Sheet at December 31, 2022	$ 3,436

Restructuring - Schedule Of Accrued Restructuring and Accrued Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Charges	$ 2,469	$ 0
Workforce Reduction [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance	0
Charges	2,022
Cash payments	(2,022)
Ending balance	$ 0	$ 0

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Summary of Restricted Stock Activity

A summary of restricted stock activity for the years ended December 31, 2022 and 2021 is presented below:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
Nonvested at January 1, 2021		361,168		$	0.036
Vested		(178,482	)		—

Nonvested at December 31, 2021		182,686		$	0.045
Vested		(115,684	)		—

Nonvested at December 31, 2022		67,002		$	0.065

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss	$ 9,639,000	$ 4,035,000
Stock-based compensation	6,620,000	5,164,000
Depreciation and amortization	4,198,000	4,723,000
Capitalized research and development	7,314,000	0
Research and development credit	1,635,000	891,000
Accruals and reserves	471,000	575,000
Lease liability	722,000	877,000
Total deferred income tax assets	30,599,000	16,265,000
Less: Valuation allowances	(29,955,000)	(15,436,000)
Deferred tax assets, net of valuation allowances	644,000	829,000
Deferred tax liabilities:
Right of use asset	(644,000)	(829,000)
Total deferred income tax liabilities	(644,000)	(829,000)
Net deferred taxes	$ 0	$ 0

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%
State taxes, net of federal tax benefit	0.70%	(1.00%)
Change in fair value of warrant liabilities	2.00%	12.40%
Research and development	(0.70%)	1.40%
Other	(0.10%)	(1.20%)
Change in valuation allowance	(22.90%)	(32.60%)
Income taxes provision (benefit)	0.00%	0.00%

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Offering costs	$ 3,320

Stock-Based Compensation - Schedule of Employee Service Share Based Compensation Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 12,439	$ 23,313
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	7,303	14,988
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	4,689	8,325
Restructuring Charges [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 447	$ 0

Balance Sheet Details - Summary of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Balance Sheet Details [Line Items]
Other current assets	$ 3,301	$ 95
Other Current Assets
Disclosure Of Balance Sheet Details [Line Items]
German grant receivable	1,372	0
Clinical related vendor prepayments	1,560	0
Other	$ 369	$ 95

Net Loss per Share Applicable to Common Stockholders

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Loss per Share Applicable to Common Stockholders

12. Net Loss per Share Applicable to Common Stockholders

Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted loss per common share is computed similarly to basic loss

per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.

The following table sets forth the computation of loss per share for the years ended December 31, 2022 and 2021, respectively (amounts in thousands, except per share number):


	For the years ended December 31,
	2022			2021
Numerator:
Net loss	$	(65,367	)	$	(39,306	)

Denominator:
Weighted average common shares outstanding, basic and diluted		21,029			17,176

Net loss per common share, basic and diluted	$	(3.11)		$	(2.29)

The following table presents the potential common stock outstanding that was excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive:


	For the years ended December 31,
	2022		2021
Options outstanding		4,353		3,408
Warrants		3,295		3,295

Total		7,648		6,703

Stock-Based Compensation - Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Exercise price	$ 3.3	$ 18.62
Expected term (years)	5 years 9 months 18 days	5 years 10 months 24 days
Volatility (annual)	85.10%	76.30%
Risk-free rate	2.80%	0.90%
Dividend yield (per share)	0.00%	0.00%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (65,367)	$ (39,306)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	54	25
Stock-based compensation	12,439	23,313
Amortization of right-of-use assets	885	315
Change in fair value of warrant liabilities	(6,303)	(23,358)
Net amortization of discounts on marketable securities	(292)	0
Changes in operating assets and liabilities:
Prepaid and other current assets	(3,158)	1,041
Other assets	1,572	(1,571)
Accounts payable	1,046	1,528
Accrued expenses	208	4,715
Lease liability	(738)	(90)
Other noncurrent liabilities	50	0
Due to related parties	0	(14)
Net cash used in operating activities	(59,604)	(33,402)
Cash Flows from Investing Activities:
Purchases of marketable securities	(42,978)	0
Sales and maturities of marketable securities	2,400	0
Research and development-acquired license	0	(5,000)
Capital expenditures	0	(258)
Net cash used in investing activities	(40,578)	(5,258)
Cash Flows from Financing Activities:
Proceeds from issuance of common stock from employee stock plans	280	351
Proceeds from private placement, net of transaction costs	0	47,431
Proceeds from warrants exercised for cash, net of redemption cost	0	40,671
Net cash provided by financing activities	280	88,453
Effect of exchange rate changes on cash, cash equivalents and restricted cash	71	(21)
Net increase (decrease) in cash, cash equivalents and restricted cash	(99,831)	49,772
Cash, cash equivalents and restricted cash at beginning of year	111,564	61,792
Cash, cash equivalents and restricted cash at end of year	11,733	111,564
Supplemental disclosure of cash flow information:
Cash paid for interest	0	25
Supplemental schedule of non-cash investing and financing activities:
Reclassification of warrant liabilities to equity due to warrant exercises for cash	0	2,503
Right-of-use assets obtained in exchange for operating lease liabilities	$ 0	$ 4,264

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating expenses:
General and administrative	$ 18,953	$ 22,575
Research and development	52,152	40,081
Restructuring	2,469	0
Total operating expenses	73,574	62,656
Loss from operations	(73,574)	(62,656)
Other income (expense)
Change in fair value of warrant liabilities	6,303	23,358
Interest income	664	0
Other income (expense), net	1,240	(8)
Total other income (expense)	8,207	23,350
Net loss	(65,367)	(39,306)
Other comprehensive loss:
Net foreign currency translation gain (loss)	69	(21)
Net unrealized loss on marketable securities	(74)	0
Comprehensive loss	$ (65,372)	$ (39,327)
Net loss per common share, basic	$ (3.11)	$ (2.29)
Net loss per common share, diluted	$ (3.11)	$ (2.29)
Weighted average common shares outstanding, basic	21,029	17,176
Weighted average common shares outstanding, diluted	21,029	17,176

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The Company’s consolidated financial statements have been prepared in conformity with GAAP as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). They include the accounts of Vincerx and its wholly-owned subsidiaries VNRX Corp. and Vincerx Pharma GmbH. All intercompany accounts and transactions have been eliminated. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, common stock warrant liabilities and stock-based compensation. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates. Concentrations of Credit Risk The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, development by the Company or its competitors of technological innovations, risks of failure of clinical studies, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to transition from preclinical manufacturing to commercial production of products. The Company’s future product candidates will require approvals from the U.S. Food and Drug Administration and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed or the Company was unable to maintain approval for any product candidate, it could have a material adverse impact on the Company. Cash and Cash Equivalents Management considers all highly liquid investments with an insignificant interest rate risk and original maturities of three months or less to be cash equivalents. There were no cash equivalents as of December 31, 2021. Restricted Cash Restricted cash represents cash deposits with a financial institution in support of letters of our corporate credit card program. Marketable Securities The Company generally invests its excess cash in money market funds and investment grade short-term to intermediate-term fixed income securities. Such investments are included in cash and cash equivalents, short-term marketable securities or long-term marketable securities on the consolidated balance sheets. Marketable securities with a maturity date greater than 90 days and less than one year at each consolidated balance sheet date are classified as short-term. Marketable securities with a maturity date greater than one year, if any, are classified as long-term. All of the Company’s marketable securities are considered available-for-sale and are reported at fair value with unrealized gains and losses included as a component of stockholders’ equity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income on the consolidated statements of operations and comprehensive loss. Realized gains and losses and declines in value judged to be other-than-temporary, if any, on marketable securities are included in interest income on the consolidated statements of operations and comprehensive loss. The cost of securities sold is determined using specific identification. The Company periodically evaluates whether declines in the fair values of its marketable securities below their amortized cost are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as the Company’s ability and intent to hold the marketable security until a forecasted recovery occurs. Additionally, the Company assesses whether it has plans to sell the marketable security or it is more likely than not it will be required to sell any marketable securities before recovery of its amortized cost basis. Factors considered include quoted market prices, recent financial results and operating trends, implied values from any recent transactions or offers of investee securities, credit quality of debt instrument issuers, other publicly available information that may affect the value of the marketable security, duration and severity of the decline in value, and the Company’s strategy and intentions for holding the marketable security. Property, Plant and Equipment Property and equipment are stated at cost. Depreciation and amortization are provided for using straight-line methods, in amounts sufficient to charge the cost of depreciable assets to operations over their estimated service lives. Repairs and maintenance costs are charged to operations as incurred. The Company assesses its long-lived assets for impairment whenever facts and circumstances indicate that the carrying amounts may not be fully recoverable. To analyze recoverability, the Company projects undiscounted net future cash flows over the remaining lives of such assets. If these projected undiscounted net future cash flows are less than the carrying amounts, an impairment loss would be recognized, resulting in a write-down of the assets with a corresponding charge to earnings. The impairment loss is measured based upon the difference between the carrying amounts and the fair values of the assets. There has been no impairment loss as of December 31, 2022. Fair Value Measurement The Company applies fair value accounting for all financial assets and liabilities measured on a recurring and nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance established a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, used to determine the fair value of its financial instruments. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Level 1—Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Private Warrant Liability As of December 31, 2022 and 2021, there were 3,295,000 private warrants to purchase common stock outstanding. As of December 31, 2020, there were 10,133,767 warrants outstanding, consisting of 6,563,767 public warrants (which included 2,744,586 public warrants constituting part of the units) and 3,570,000 private warrants. Each unit consisted of one share of common stock and one public warrant exercisable for one-half of one share of common stock. Each public warrant entitled the registered holder to purchase one-half (1/2) of a share of common stock at a price of $11.50 per whole share of common stock, subject to adjustment as discussed below, at any time commencing on the later of one year after the closing of the initial public offering of LSAC or the consummation of a business combination. The private warrants are identical to the warrants underlying the units except that (i) each private warrant is exercisable for one share of common stock at an exercise price of $11.50 per share and (ii) such private warrants will be exercisable for cash (even if a registration statement covering the shares of common stock issuable upon exercise of such private warrants is not effective) or on a cashless basis, at the holder’s option (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to remove the cashless exercise provision), and will not be redeemable by the Company (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to include a redemption provision substantially identical to that of the public warrants; provided, however, that such redemption rights may not be exercised during the first 12 months following the closing of the Business Combination unless the last sales price of the Company’s common stock has been equal to or greater than $20.00 per share for any 20 trading days within a 30 trading day period ending on the third business day prior to the date on which notice of redemption is given), in each case so long as they are still held by the initial purchasers or their affiliates. The private warrants purchased by Rosedale Park, LLC will expire on March 5, 2025, provided that once the private warrants are not beneficially owned by Chardan Capital Markets, LLC or any of its related persons anymore, the private warrants may not be exercised five years following the completion of the Business Combination. The Company evaluated the public and private warrants under ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and concluded that certain of the private warrants do not meet the criteria to be classified in stockholders’ equity. Because post Business Combination, these private warrants could be transferred to a non-permitted transferee and become public warrants (i.e., become subject to redemption and no longer have a cashless exercise feature), the settlement value of the private warrants is dependent, in part, on the holder of these private warrants at the time of settlement. Because the holder of an instrument is not an input into the pricing of a fixed-for-fixed option on the Company’s common stock, these private warrants fail the indexation guidance in ASC 815-40. This conclusion excludes the 500,000 private warrants held by LifeSci Holdings LLC, which had been amended in connection with the Business Combination to remove the cashless exercise provision and include a redemption provision, as described above. Since these private warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as liabilities on the consolidated balance sheet at fair value, with subsequent changes in their respective fair values recognized in the consolidated statements of operations at each reporting date. The estimated fair value of the private warrants is determined with Level 3 inputs using Black-Scholes and Monte Carlo simulations. Leases Effective January 1, 2021, the Company adopted FASB ASC Topic 842, “Leases” (“ASC 842”), using the required modified retrospective approach and utilizing the effective date as its date of initial application, for which prior periods are presented in accordance with the previous guidance in ASC 840, “Leases”. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Most leases with a term greater than one year are recognized on the balance sheet as right-of-use assets and short-term and long-term lease liabilities, as applicable. The Company has elected not to recognize on the balance sheet leases with terms of 12 months or less. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will renew. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments to the right-of-use assets may be required for items such as incentives received. The interest rate implicit in the Company’s leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term and in a similar economic environment (see Note 9). In accordance with ASC 842, components of a lease should be allocated between lease components (e.g., land, building, etc.) and non-lease components (e.g., common area maintenance, consumables, etc.). The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as a single operating segment. Research and Development Costs The Company expenses research and development costs as operating expenses as incurred. These expenses include acquired in-process research and development expenses for which there is no alternative future use, salaries for research and development personnel, consulting fees, product development, pre-clinical studies, clinical trial costs, and other fees and costs related to the development of the technology. Stock-Based Compensation The Company measures and recognizes compensation expense for all stock-based awards made to employees, directors, and non-employees, including stock options and restricted shares, based on estimated fair values recognized over the requisite service period. The fair value of options granted is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock-based compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, and an assumed risk-free interest rate. The Company accounts for forfeitures when they occur. The Company uses the simplified calculation of the expected life, which takes into consideration the grant’s contractual life and vesting period and assumes that all options will be exercised between the vesting date and the contractual term of the option. No awards have been issued with a market condition or other non-standard terms. The estimate for volatility is based on an average of the historical volatilities of the common stock of several entities with characteristics similar to those of the Company. Since these comparable companies operate in the same industry segment, the Company expects that it would share similar characteristics, such as risk profiles, volatility, capital intensity and market growth patterns and drivers. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. Income Taxes Income taxes are recorded in accordance with ASC 740, “Income Taxes” (“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse, and net operating loss carryforwards and research and development tax credit (“R&D Credit”) carryforwards. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company has recorded a full valuation allowance to reduce its net deferred income tax assets to zero. In the event the Company were to determine that it would be able to realize some or all its deferred income tax assets in the future, an adjustment to the deferred income tax asset valuation allowance would increase income in the period such determination was made. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. At December 31, 2022 and 2021, the Company had no liability for income tax associated with uncertain tax positions. The Company would recognize any corresponding interest and penalties associated with its income tax positions in income tax expense. There was no income tax interest or penalties incurred in 2022 or 2021. German Grant Income The Company recognizes grant income in the period when the underlying eligible expenses are incurred. The German government grant program provides for tax refunds or direct reimbursements of eligible research expenses of up to 1.0 million euros per year over a period of six years. The grant was approved in 2022 and is retroactive to 2021. Grant income for the years ended December 31, 2022 and 2021 has been recorded in other income (expense), net on our consolidated statements of operations and comprehensive loss. The corresponding receivable is included within other current assets on our consolidated balance sheet and is expected to be collected within twelve months of the balance sheet date. Foreign Currency Translation and Transactions Our consolidated financial statements are presented in U.S. dollars. The functional currency for our foreign subsidiary is the local currency, or euro. Expenses, gains and losses for this entity are translated into U.S. dollars using average currency exchange rates for the period. Assets and liabilities are translated using exchange rates in effect at the balance sheet date. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive loss on our consolidated balance sheets. Foreign currency transaction gains and losses on transactions not denominated in the functional currency are recorded in other income (expense), net, on our consolidated statements of operations and comprehensive loss. Comprehensive Income or Loss Comprehensive loss is equal to net loss, net foreign currency translation loss, and net unrealized loss on marketable securities as presented in the accompanying consolidated statements of operations and comprehensive loss. Net Loss per Share of Common Stock Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share adjusts basic earnings per share for the potentially dilutive impact of stock options and warrants. As the Company has reported losses for all periods presented, all potentially dilutive securities including stock options and warrants, are antidilutive and accordingly, basic net loss per share equals diluted net loss per share. Recent Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2021 and adoption must be as of the beginning of the Company’s annual fiscal year. The Company elected to early adopt this guidance on January1, 2022 without any material impact on its consolidated financial statements. In May 2021, the FASB issued ASU 2021-04, “Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. This ASU provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. This ASU will be effective for all entities for fiscal years beginning after December 15, 2021. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The adoption of ASU 2021-04 on January 1, 2022 did not have a material impact on the Company’s consolidated financial statements or disclosures.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 11,663	$ 111,459
Restricted cash	70	105
Short-term marketable securities	40,796	0
Prepaid expenses	134	182
Other current assets	3,301	95
Total current assets	55,964	111,841
Right-of-use assets, net	3,064	3,949
Property, plant and equipment, net	177	233
Other assets	81	1,653
Total assets	59,286	117,676
Current liabilities
Accounts payable	3,065	2,019
Accrued expenses	4,923	4,715
Lease liability	1,024	738
Common stock warrant liabilities	144	6,447
Total current liabilities	9,156	13,919
Lease liability, net of current portion	2,412	3,436
Other noncurrent liabilities	50	0
Total liabilities	11,618	17,355
Commitments and contingencies—Note 9
Stockholders' equity
Preferred stock, $0.0001 par value; 30,000,000 shares authorized, none issued and outstanding as of December 30, 2022 and 2021	0	0
Common stock, $0.0001 par value; 120,000,000 shares authorized; 21,242,884 shares and 21,057,560 shares issued and outstanding as of December 31, 2022 and 2021, respectively	2	2
Additional paid-in capital	169,030	156,311
Accumulated other comprehensive loss	(26)	(21)
Accumulated deficit	(121,338)	(55,971)
Total stockholders' equity	47,668	100,321
Total liabilities and stockholders' equity	$ 59,286	$ 117,676

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Fair Value Assets Measured on Recurring Basis

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (amounts in thousands):


	Fair Value Measured as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash Equivalents:
Money market funds	$	2,266	$	—	$	—	$	2,266
Commercial paper		—		4,496		—		4,496
Corporate debt securities		—		3,032		—		3,032
Short-term marketable securities:
Commercial paper		—		15,587		—		15,587
U.S. government treasuries		1,005		—		—		1,005
U.S. government agency securities		—		16,069		—		16,069
Corporate debt securities		—		8,135		—		8,135

Total cash equivalents and marketable securities	$	3,271	$	47,319	$	—	$	50,590

Summary of Liabilities Measured at Fair Value on Recurring Basis


	Fair Value Measured as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Liabilities:
Common stock warrant liabilities	$	—	$	—	$	144	$	144

Total fair value	$	—	$	—	$	144	$	144


	Fair Value Measured as of December 31, 2021
	Level 1		Level 2		Level 3		Total
Liabilities:
Common stock warrant liabilities	$	—	$	—	$	6,447	$	6,447

Total fair value	$	—	$	—	$	6,447	$	6,447

Summary of Changes in Level 3 Warrant liabilities measured at fair value


	Warrant Liability
Balance – January 1, 2021	$	32,308
Reclassification of warrant liabilities due to warrant exercises		(2,503	)
Change in fair value		(23,358	)

Balance – December 31, 2021		6,447
Change in fair value		(6,303	)

Balance – December 31, 2022	$	144

Private Warrant [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Fair Value of the Company's warrant liabilities


	As of December 31, 2022			As of December 31, 2021
Stock price	$	1.02		$	10.19
Exercise price	$	11.50		$	11.50
Option term (years)		3.0			4.0
Volatility (annual)		73.7	%		32.5	%
Risk-free rate		4.1	%		1.1	%
Dividend yield (per share)		0	%		0	%

Available-For-Sale Securities (Tables)

12 Months Ended

Dec. 31, 2022

Debt Securities, Available-for-Sale [Abstract]

Summary of Available For Sale Securities

All marketable securities were considered

available-for-sale

at December 31, 2022. The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s marketable securities by major security type at December 31, 2022 are summarized in the table below (amounts in thousands):


	December 31, 2022
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Assets:
Short-term marketable securities:
Commercial paper	$	15,608	$	—	$	(21	)	$	15,587
U.S. government treasuries		1,007		—		(2	)		1,005
U.S. government agency securities		16,105		—		(36	)		16,069
Corporate debt securities		8,149		—		(14	)		8,135

Total marketable securities	$	40,869	$	—	$	(73	)	$	40,796

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

The Company’s Certificate of Incorporation authorizes the issuance of 120,000,000 shares of common stock, $0.0001 par value per share and 30,000,000 shares of undesignated preferred stock, $0.0001 par value per share. As of December 31, 2022 and 2021, there were 21,242,884 shares and 21,057,560 shares of common stock outstanding, respectively, and no shares of preferred stock outstanding.

On April 5, 2021, the Company announced that it would redeem all of its public warrants to purchase shares of the Company’s common stock that were issued under the Warrant Agreement, dated March 5, 2020, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent, as part of the units sold in the Company’s initial public offering, that remained outstanding and unexercised on May 5, 2021, the redemption date, at a redemption price of $0.01 per public warrant. In addition to the $6.1 million of cash received on April 1, 2021 from the exercise of public warrants in March 2021, prior to the redemption notice, the Company received additional proceeds of approximately $31.4 million from the exercise of additional public warrants during the redemption period. Prior to the redemption date, the units were each separated into one share of common stock and one public warrant. Pursuant to the redemption, a total of 40,491 public warrants were unexercised as of the redemption date and redeemed by the Company at the redemption price of $0.01 per public warrant.

During the year ended December 31, 2021, 275,000 private warrants were exercised for approximately $3.2 million. No private warrants were exercised during the year ended

December 31, 2022.

In September 2021, the Company completed a private placement of 3.5 million shares of common stock at an offering price of $14.50 per share and raised proceeds of approximately $47.4 million, net of transaction costs of approximately $3.3 million, respectively.

During the years ended December 31, 2022 and 2021, 183,366 shares and 36,485 shares, respectively, were issued pursuant to the Company’s Employee Stock Purchase Program (“ESPP”) (see Note 11) for approximately $278,000 and $351,000 in proceeds, respectively.

Restricted Shares

Between July and August 2019, Legacy Vincera Pharma issued 471,850 shares (826,510 shares prior to the effects of the Merger) of restricted stock at par value to certain management persons. All amounts owed for the issuance of these restricted shares were settled in cash in July 2020. The grant date fair value of this restricted stock was approximately $6,000.

In May 2020, Legacy Vincera Pharma issued an additional 173,552 shares (304,000 shares prior to the effects of the Merger) of restricted stock at a fair value of $0.07 per share in exchange for services. Pursuant to these restricted share agreements, the term vesting represents the expiration of the Company’s repurchase right for the underlying shares. As of December 31, 2022, there was approximately $5,000 of unrecognized stock-based compensation related to restricted stock that will be amortized in 1.4 years.

A summary of restricted stock activity for the years ended December 31, 2022 and 2021 is presented below:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
Nonvested at January 1, 2021		361,168		$	0.036
Vested		(178,482	)		—

Nonvested at December 31, 2021		182,686		$	0.045
Vested		(115,684	)		—

Nonvested at December 31, 2022		67,002		$	0.065

Warrants

As of December 31, 2022, there were 3,295,000 private warrants to purchase common stock outstanding. After the redemption described above, no public warrants remained outstanding at December 31, 2021.

The private warrants are identical to the previously outstanding public warrants except that (i) each private warrant is exercisable for one share of common stock at an exercise price of $11.50 per share and (ii) such private warrants will be exercisable for cash (even if a registration statement covering the shares of common stock issuable upon exercise of such private warrants is not effective) or on a cashless basis, at the holder’s option (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to remove the cashless exercise provision), and will not be redeemable by the Company (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to include a redemption provision substantially identical to that of the public warrants; provided, however, that such redemption rights may not be exercised during the first 12 months following the closing of the Business Combination unless the last sales price of the Company’s common stock has been equal to or greater than $20.00 per share for any 20 trading days within a 30 trading day period ending on the third business day prior to the date on which notice of redemption is given), in each case so long as they are still held by the initial purchasers or their affiliates. The private warrants purchased by Rosedale Park, LLC, will expire on March 5,

2025,

provided that once the private warrants are not beneficially owned by Chardan Capital Markets, LLC or any of its related persons anymore, the private warrants may not be exercised five years following the completion of the Business Combination.

The previously outstanding public warrants and the private warrants issued to LifeSci Holdings LLC that were amended as described above were determined to be equity classified in accordance with ASC 815, Derivatives and Hedging. The remaining private warrants were determined to be liability classified in accordance with ASC 815, Derivatives and Hedging (see note 6).

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Balance Sheet Details - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Details [Abstract]
Depreciation Expense	$ 54,000	$ 25,000

Stockholders' Equity - Additional Information (Details) - USD ($)					2 Months Ended	12 Months Ended
	Apr. 05, 2021	Apr. 01, 2021	May 31, 2020	Jul. 31, 2019	Aug. 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Preferred stock shares authorized						30,000,000	30,000,000
Preferred stock par value						$ 0.0001	$ 0.0001
Preferred stock shares outstanding						0	0
Common stock shares authorized						120,000,000	120,000,000
Common stock par value						$ 0.0001	$ 0.0001
Unrecognized stock based compensation						$ 5,200,000
Amotization period of unrecognized stock based compensation						10 months 24 days
No of Warrents outstanding						3,295,000	3,295,000
Common stock shares outstanding						21,242,884	21,057,560
Proceeds from warrants exercised for cash						$ 0	$ 40,671,000
Adjustments to additional paid in capital, warrant issued							2,503,000
Proceeds from Issuance of Private Placement						$ 0	$ 47,431,000
Employee Stock Purchase Plan [Member]
Class Of Stock [Line Items]
Stock issued during period shares employee stock purchase plans						183,366	36,485
Stock issued during period value employee stock purchase plans						$ 278,000,000	$ 351,000,000
Private Placement [Member]
Class Of Stock [Line Items]
Shares issued price per warrant						$ 11.5
Public Warrant
Class Of Stock [Line Items]
No of Warrents outstanding							0	6,563,767
Shares issued price per warrant						$ 11.5
Class of warrents exercised		40,491
Class of warrant or right redemption threshold trading days						20 days
Warrants expiration date	May 05, 2021
Exercise price per share		$ 0.01
Temporary Equity, Redemption Price Per Share	$ 0.01
Proceeds from warrants exercised for cash	$ 6,100,000
Adjustments to additional paid in capital, warrant issued		$ 31,400,000
Private Warrants
Class Of Stock [Line Items]
No of Warrents outstanding						3,295,000		3,570,000
Common stock conversion						each private warrant is exercisable for one share of common stock at an exercise price of $11.50
Shares issued price per warrant						$ 11.5
Class of warrents exercised						275,000
Class of warrant or right redemption threshold trading days						20 days
Class of warrant or right redemption threshold consecutive trading days						30 days
Warrant expiration term						5 years
Proceeds from Issuance of Common Stock							$ 3,200,000
ClassOfWarrantOrRightExercisedDuringThePeriod						0
Private Warrants \| Rosedale Park LLC [Member]
Class Of Stock [Line Items]
Class of warrents exercised						500,000
Warrants expiration date						Mar. 05, 2025
Private Warrants \| LifeSci Holdings LLC [Member]
Class Of Stock [Line Items]
Class of warrents exercised						500,000
Restricted Stock
Class Of Stock [Line Items]
Unrecognized stock based compensation						$ 5,000
Amotization period of unrecognized stock based compensation						1 year 4 months 24 days
Stock Issued During Period, Shares, Reverse Stock Splits				(826,510)
Issuance of restricted stock, Shares					471,850
Fair value of restricted stock					$ 6,000
Stock issued for services			173,552
Stock issued per share			$ 0.07
Restricted Stock \| Vincera Pharma [Member]
Class Of Stock [Line Items]
Stock Issued During Period, Shares, Reverse Stock Splits			(304,000)
Common Stock
Class Of Stock [Line Items]
Issuance of common stock							3,500
Common Stock \| Private Placement [Member]
Class Of Stock [Line Items]
Issuance of common stock						3,500,000
Share price						$ 14.5
Proceeds from Issuance of Private Placement						$ 47,400,000
Payments of Stock Issuance Costs						$ 3,300,000
Common Stock \| Private Warrants
Class Of Stock [Line Items]
Share redemption trigger price						$ 20

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Stock Options	3,408	1,048
Options granted, Stock Options	2,509,000	2,367,000
Options exercised, Stock Options	(2,000)
Options cancelled, Stock Options	(1,562,000)	(7,000)
Outstanding, Stock Options	4,353	3,408	1,048
Options vested and exercisable, Stock Options	1,973,000
Outstanding, Weighted Average Exercise Price	$ 18.74	$ 19
Options granted, Weighted Average Exercise Price	3.3	18.62
Options exercised, Weighted Average Exercise Price	0.82
Options cancelled, Weighted Average Exercise Price	15.89	19
Outstanding, Weighted Average Exercise Price	10.87	$ 18.74	$ 19
Options vested and exercisable, Weighted Average Exercise Price (in years)	$ 16.71
Outstanding, Outstanding, Weighted Average Remaining Contractual Life (in years)	8 years 7 months 6 days	9 years 2 months 12 days	10 years
Outstanding, Outstanding, Weighted Average Remaining Contractual Life (in years)	8 years 7 months 6 days	9 years 2 months 12 days	10 years
Options vested and exercisable, Weighted Average Remaining Contractual Life (in years)	7 years 9 months 18 days
Outstanding, Aggregate Intrinsic Value	$ 125
Options vested and exercisable, Aggregate Intrinsic Value	$ 5

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s consolidated financial statements have been prepared in conformity with GAAP as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). They include the accounts of Vincerx and its wholly-owned subsidiaries VNRX Corp. and Vincerx Pharma GmbH. All intercompany accounts and transactions have been eliminated.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, common stock warrant liabilities and stock-based compensation. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.
Concentration of Credit Risk	Concentrations of Credit Risk The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, development by the Company or its competitors of technological innovations, risks of failure of clinical studies, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to transition from preclinical manufacturing to commercial production of products. The Company’s future product candidates will require approvals from the U.S. Food and Drug Administration and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed or the Company was unable to maintain approval for any product candidate, it could have a material adverse impact on the Company.
Cash and Cash Equivalents	Cash and Cash Equivalents Management considers all highly liquid investments with an insignificant interest rate risk and original maturities of three months or less to be cash equivalents. There were no cash equivalents as of December 31, 2021.
Restricted Cash	Restricted Cash Restricted cash represents cash deposits with a financial institution in support of letters of our corporate credit card program.
Marketable Securities	Marketable Securities The Company generally invests its excess cash in money market funds and investment grade short-term to intermediate-term fixed income securities. Such investments are included in cash and cash equivalents, short-term marketable securities or long-term marketable securities on the consolidated balance sheets. Marketable securities with a maturity date greater than 90 days and less than one year at each consolidated balance sheet date are classified as short-term. Marketable securities with a maturity date greater than one year, if any, are classified as long-term. All of the Company’s marketable securities are considered available-for-sale and are reported at fair value with unrealized gains and losses included as a component of stockholders’ equity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income on the consolidated statements of operations and comprehensive loss. Realized gains and losses and declines in value judged to be other-than-temporary, if any, on marketable securities are included in interest income on the consolidated statements of operations and comprehensive loss. The cost of securities sold is determined using specific identification. The Company periodically evaluates whether declines in the fair values of its marketable securities below their amortized cost are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as the Company’s ability and intent to hold the marketable security until a forecasted recovery occurs. Additionally, the Company assesses whether it has plans to sell the marketable security or it is more likely than not it will be required to sell any marketable securities before recovery of its amortized cost basis. Factors considered include quoted market prices, recent financial results and operating trends, implied values from any recent transactions or offers of investee securities, credit quality of debt instrument issuers, other publicly available information that may affect the value of the marketable security, duration and severity of the decline in value, and the Company’s strategy and intentions for holding the marketable security.
Property, Plant and Equipment	Property, Plant and Equipment Property and equipment are stated at cost. Depreciation and amortization are provided for using straight-line methods, in amounts sufficient to charge the cost of depreciable assets to operations over their estimated service lives. Repairs and maintenance costs are charged to operations as incurred. The Company assesses its long-lived assets for impairment whenever facts and circumstances indicate that the carrying amounts may not be fully recoverable. To analyze recoverability, the Company projects undiscounted net future cash flows over the remaining lives of such assets. If these projected undiscounted net future cash flows are less than the carrying amounts, an impairment loss would be recognized, resulting in a write-down of the assets with a corresponding charge to earnings. The impairment loss is measured based upon the difference between the carrying amounts and the fair values of the assets. There has been no impairment loss as of December 31, 2022.
Fair Value Measurement	Fair Value Measurement The Company applies fair value accounting for all financial assets and liabilities measured on a recurring and nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance established a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, used to determine the fair value of its financial instruments. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Level 1—Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities.
Private Warrant Liability	Private Warrant Liability As of December 31, 2022 and 2021, there were 3,295,000 private warrants to purchase common stock outstanding. As of December 31, 2020, there were 10,133,767 warrants outstanding, consisting of 6,563,767 public warrants (which included 2,744,586 public warrants constituting part of the units) and 3,570,000 private warrants. Each unit consisted of one share of common stock and one public warrant exercisable for one-half of one share of common stock. Each public warrant entitled the registered holder to purchase one-half (1/2) of a share of common stock at a price of $11.50 per whole share of common stock, subject to adjustment as discussed below, at any time commencing on the later of one year after the closing of the initial public offering of LSAC or the consummation of a business combination. The private warrants are identical to the warrants underlying the units except that (i) each private warrant is exercisable for one share of common stock at an exercise price of $11.50 per share and (ii) such private warrants will be exercisable for cash (even if a registration statement covering the shares of common stock issuable upon exercise of such private warrants is not effective) or on a cashless basis, at the holder’s option (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to remove the cashless exercise provision), and will not be redeemable by the Company (except with respect to 500,000 of the private warrants held by Rosedale Park, LLC and 500,000 of the private warrants held by LifeSci Holdings LLC, which were amended to include a redemption provision substantially identical to that of the public warrants; provided, however, that such redemption rights may not be exercised during the first 12 months following the closing of the Business Combination unless the last sales price of the Company’s common stock has been equal to or greater than $20.00 per share for any 20 trading days within a 30 trading day period ending on the third business day prior to the date on which notice of redemption is given), in each case so long as they are still held by the initial purchasers or their affiliates. The private warrants purchased by Rosedale Park, LLC will expire on March 5, 2025, provided that once the private warrants are not beneficially owned by Chardan Capital Markets, LLC or any of its related persons anymore, the private warrants may not be exercised five years following the completion of the Business Combination. The Company evaluated the public and private warrants under ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and concluded that certain of the private warrants do not meet the criteria to be classified in stockholders’ equity. Because post Business Combination, these private warrants could be transferred to a non-permitted transferee and become public warrants (i.e., become subject to redemption and no longer have a cashless exercise feature), the settlement value of the private warrants is dependent, in part, on the holder of these private warrants at the time of settlement. Because the holder of an instrument is not an input into the pricing of a fixed-for-fixed option on the Company’s common stock, these private warrants fail the indexation guidance in ASC 815-40. This conclusion excludes the 500,000 private warrants held by LifeSci Holdings LLC, which had been amended in connection with the Business Combination to remove the cashless exercise provision and include a redemption provision, as described above. Since these private warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as liabilities on the consolidated balance sheet at fair value, with subsequent changes in their respective fair values recognized in the consolidated statements of operations at each reporting date. The estimated fair value of the private warrants is determined with Level 3 inputs using Black-Scholes and Monte Carlo simulations.
Leases	Leases Effective January 1, 2021, the Company adopted FASB ASC Topic 842, “Leases” (“ASC 842”), using the required modified retrospective approach and utilizing the effective date as its date of initial application, for which prior periods are presented in accordance with the previous guidance in ASC 840, “Leases”. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Most leases with a term greater than one year are recognized on the balance sheet as right-of-use assets and short-term and long-term lease liabilities, as applicable. The Company has elected not to recognize on the balance sheet leases with terms of 12 months or less. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will renew. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments to the right-of-use assets may be required for items such as incentives received. The interest rate implicit in the Company’s leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term and in a similar economic environment (see Note 9). In accordance with ASC 842, components of a lease should be allocated between lease components (e.g., land, building, etc.) and non-lease components (e.g., common area maintenance, consumables, etc.). The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components.
Segments	Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as a single operating segment.
Research and Development Costs	Research and Development Costs The Company expenses research and development costs as operating expenses as incurred. These expenses include acquired in-process research and development expenses for which there is no alternative future use, salaries for research and development personnel, consulting fees, product development, pre-clinical studies, clinical trial costs, and other fees and costs related to the development of the technology.
Stock-Based Compensation	Stock-Based Compensation The Company measures and recognizes compensation expense for all stock-based awards made to employees, directors, and non-employees, including stock options and restricted shares, based on estimated fair values recognized over the requisite service period. The fair value of options granted is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock-based compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, and an assumed risk-free interest rate. The Company accounts for forfeitures when they occur. The Company uses the simplified calculation of the expected life, which takes into consideration the grant’s contractual life and vesting period and assumes that all options will be exercised between the vesting date and the contractual term of the option. No awards have been issued with a market condition or other non-standard terms. The estimate for volatility is based on an average of the historical volatilities of the common stock of several entities with characteristics similar to those of the Company. Since these comparable companies operate in the same industry segment, the Company expects that it would share similar characteristics, such as risk profiles, volatility, capital intensity and market growth patterns and drivers. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option.
Income Taxes	Income Taxes Income taxes are recorded in accordance with ASC 740, “Income Taxes” (“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse, and net operating loss carryforwards and research and development tax credit (“R&D Credit”) carryforwards. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company has recorded a full valuation allowance to reduce its net deferred income tax assets to zero. In the event the Company were to determine that it would be able to realize some or all its deferred income tax assets in the future, an adjustment to the deferred income tax asset valuation allowance would increase income in the period such determination was made. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. At December 31, 2022 and 2021, the Company had no liability for income tax associated with uncertain tax positions. The Company would recognize any corresponding interest and penalties associated with its income tax positions in income tax expense. There was no income tax interest or penalties incurred in 2022 or 2021.
German Grant Income	German Grant Income The Company recognizes grant income in the period when the underlying eligible expenses are incurred. The German government grant program provides for tax refunds or direct reimbursements of eligible research expenses of up to 1.0 million euros per year over a period of six years. The grant was approved in 2022 and is retroactive to 2021. Grant income for the years ended December 31, 2022 and 2021 has been recorded in other income (expense), net on our consolidated statements of operations and comprehensive loss. The corresponding receivable is included within other current assets on our consolidated balance sheet and is expected to be collected within twelve months of the balance sheet date.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Our consolidated financial statements are presented in U.S. dollars. The functional currency for our foreign subsidiary is the local currency, or euro. Expenses, gains and losses for this entity are translated into U.S. dollars using average currency exchange rates for the period. Assets and liabilities are translated using exchange rates in effect at the balance sheet date. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive loss on our consolidated balance sheets. Foreign currency transaction gains and losses on transactions not denominated in the functional currency are recorded in other income (expense), net, on our consolidated statements of operations and comprehensive loss.
Comprehensive Income or Loss	Comprehensive Income or Loss Comprehensive loss is equal to net loss, net foreign currency translation loss, and net unrealized loss on marketable securities as presented in the accompanying consolidated statements of operations and comprehensive loss.
Net Loss per Share of Common Stock	Net Loss per Share of Common Stock Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share adjusts basic earnings per share for the potentially dilutive impact of stock options and warrants. As the Company has reported losses for all periods presented, all potentially dilutive securities including stock options and warrants, are antidilutive and accordingly, basic net loss per share equals diluted net loss per share.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2021 and adoption must be as of the beginning of the Company’s annual fiscal year. The Company elected to early adopt this guidance on January1, 2022 without any material impact on its consolidated financial statements. In May 2021, the FASB issued ASU 2021-04, “Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. This ASU provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. This ASU will be effective for all entities for fiscal years beginning after December 15, 2021. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The adoption of ASU 2021-04 on January 1, 2022 did not have a material impact on the Company’s consolidated financial statements or disclosures.

Fair Value Measurement - Summary of Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Liabilities:
Liabilities fair value disclosure	$ 144	$ 6,447
Level 1
Liabilities:
Liabilities fair value disclosure	0	0
Level 2
Liabilities:
Liabilities fair value disclosure	0	0
Level 3
Liabilities:
Liabilities fair value disclosure	144	6,447
Common Stock Warrant Liabilities Restates
Liabilities:
Liabilities fair value disclosure	144	6,447
Common Stock Warrant Liabilities Restates \| Level 1
Liabilities:
Liabilities fair value disclosure	0	0
Common Stock Warrant Liabilities Restates \| Level 2
Liabilities:
Liabilities fair value disclosure	0	0
Common Stock Warrant Liabilities Restates \| Level 3
Liabilities:
Liabilities fair value disclosure	$ 144	$ 6,447

Stockholders' Equity - Schedule of Restricted Stock Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Shares	182,686	361,168
Vested, Shares	(115,684)	(178,482)
Ending balance, Shares	67,002	182,686
Beginning balance, Weighted Average	$ 0.045	$ 0.036
Vested, Weighted Average	0	0
Ending balance, Weighted Average	$ 0.065	$ 0.045

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

Litigation

The Company is not currently a party to any material legal proceedings and is not aware of any pending or threatened claims. From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities.

Leases

On December 23, 2020, the Company entered into a

five-year

term lease agreement which commenced on January 1, 2021. In April and May, 2021, the lease was amended to include additional space. The annual rent expense is approximately $1.2 million.

At December 31, 2022, the Company had operating lease liabilities of approximately $3.4 million and right of use assets of approximately $3.1 million, which were included in the consolidated balance sheets.

In connection with our strategic plan and workforce reduction (see note 5), the Company has consolidated its leased office space at its corporate headquarters location. Effective July 2022, the Company has subleased substantially all of its remaining unused office space for a term of 18 months at a base rent of $50,000 per month. The Company has not been legally released from its primary obligations under the original lease and subsequent amendments and, therefore, continues to account for the original lease according to Accounting Standard Codification (“ASC”) Topic 842, “Leases.” The Company records both fixed and variable payments received from the sublessee in its consolidated statements of operations and comprehensive loss on a straight-line basis as an offset to rent expense. Such payments received in the year ended December 31, 2022 were $0.3 million. The Company also received a $50,000 deposit, recorded as a noncurrent liability in the consolidated balance sheet at December 31, 2022.

The following summarizes quantitative information about the Company’s operating leases (dollars in thousands):


	For the years ended
	December 31,			December 31,
	2022			2021
Lease cost
Operating lease cost	$	1,196		$	619
Variable lease cost		—			—

Total operating lease expense	$	1,196		$	619

Other information
Operating cash flows from operating leases	$	1,048		$	380
Right-of-use assets obtained in exchange for operating lease liabilities	$	—		$	4,264
Weighted-average remaining lease term—operating leases		2.9			3.9
Weighted-average discount rate—operating leases		8	%		8	%

As of December 31, 2022, future minimum payments during the next three years are as follows (in thousands):


Year ended December 31, 2023	$	1,261
Year ended December 31, 2024		1,284
Year ended December 31, 2025		1,336

Total		3,881
Less present value discount		(445	)

Operating lease liabilities included in the Consolidated Balance Sheet at December 31, 2022	$	3,436

Available-For-Sale Securities

12 Months Ended

Dec. 31, 2022

Debt Securities, Available-for-Sale [Abstract]

Available-For-Sale Securities

Available-For-Sale

Securities

All marketable securities were considered

available-for-sale


	December 31, 2022
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Assets:
Short-term marketable securities:
Commercial paper	$	15,608	$	—	$	(21	)	$	15,587
U.S. government treasuries		1,007		—		(2	)		1,005
U.S. government agency securities		16,105		—		(36	)		16,069
Corporate debt securities		8,149		—		(14	)		8,135

Total marketable securities	$	40,869	$	—	$	(73	)	$	40,796

There were no cash equivalents or marketable securities at December 31, 2021. As of December 31, 2022, some of the Company’s marketable securities were in an unrealized loss position. The Company determined that it did have the ability and intent to hold all marketable securities that have been in a continuous loss position until maturity or recovery, thus there has been no recognition of any other-than-temporary impairment in the year ended December 31, 2022.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Contractual Obligation, Fiscal Year Maturity [Abstract]

Summary of Quantitative Information About the Company's Operating Leases

The following summarizes quantitative information about the Company’s operating leases (dollars in thousands):


	For the years ended
	December 31,			December 31,
	2022			2021
Lease cost
Operating lease cost	$	1,196		$	619
Variable lease cost		—			—

Total operating lease expense	$	1,196		$	619

Other information
Operating cash flows from operating leases	$	1,048		$	380
Right-of-use assets obtained in exchange for operating lease liabilities	$	—		$	4,264
Weighted-average remaining lease term—operating leases		2.9			3.9
Weighted-average discount rate—operating leases		8	%		8	%

Summary of Future Minimum Lease Payments

As of December 31, 2022, future minimum payments during the next three years are as follows (in thousands):


Year ended December 31, 2023	$	1,261
Year ended December 31, 2024		1,284
Year ended December 31, 2025		1,336

Total		3,881
Less present value discount		(445	)

Operating lease liabilities included in the Consolidated Balance Sheet at December 31, 2022	$	3,436

Nature of Business - Additional Information (Details)	12 Months Ended
Nature of Business - Additional Information (Details)	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Incorporation date	Dec. 19, 2018

Bayer License Agreement - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 05, 2021	Dec. 31, 2022
Bayer License Agreement [Line Items]
Date of licence agreement with Bayer		Oct. 07, 2020
Licence fee payable to Bayer		$ 1.0
Licence fee paid to Bayer	$ 5.0
Aggregate milestone payments Payable to Bayer		1,000.0
Maximum [Member]
Bayer License Agreement [Line Items]
Milestone payments payables per licenced product to Bayer		318.0
Minimum [Member]
Bayer License Agreement [Line Items]
Milestone payments payables per licenced product to Bayer		$ 110.0

Restructuring

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring

5. Restructuring

On June 4, 2022, the board of directors of the Company approved a strategic plan to prioritize and focus its resources on certain of its enitociclib clinical studies and its next generation bioconjugation platform and streamline and realign its resources to support these prioritized studies. This plan included a reduction of the Company’s full-time employees by 33% and other cost reduction measures. Affected employees were offered separation benefits, including severance payments, payments to cover premiums for continuation of healthcare coverage for a limited period and in some cases vesting acceleration on certain outstanding stock options.

The Company incurred approximately $2.5 million of severance and related expenses during 2022, which includes approximately $0.5 million of stock-based compensation expense related to the acceleration of stock options to certain affected employees.

The activity in the accrued restructuring balance, included within accrued expenses on the consolidated balance sheet, was as follows for the year ended December 31, 2022 (in thousands):


	Restructuring							Restructuring
	liabilities at							liabilities at
	January 1, 2022		Charges		Cash payments			December 31, 2022
Workforce reduction	$	—	$	2,022	$	(2,022	)	$	—

The Company does not expect to incur additional restructuring charges or cash expenditures associated with this restructuring.

Fair Value Measurement - Summary of Changes in Level 3 Warrant liabilities measured at fair value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Marketable Securities, Unrealized Gain (Loss)	Marketable Securities, Unrealized Gain (Loss)
Level 3 \| Warrant
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 6,447	$ 32,308
Change in fair value	(6,303)	(23,358)
Reclassification of warrant liabilities due to warrant exercises		(2,503)
Ending balance	$ 144	$ 6,447

Net Loss per Share Applicable to Common Stockholders - Schedule of Potential Common Stock Outstanding that was excluded from the Computation of Diluted Net Loss Per Share of Common Stock (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,648	6,703
Option Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,353	3,408
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,295	3,295

Restructuring (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Accrued Restructuring and Accrued Expenses

The activity in the accrued restructuring balance, included within accrued expenses on the consolidated balance sheet, was as follows for the year ended December 31, 2022 (in thousands):


	Restructuring							Restructuring
	liabilities at							liabilities at
	January 1, 2022		Charges		Cash payments			December 31, 2022
Workforce reduction	$	—	$	2,022	$	(2,022	)	$	—

Balance Sheet Details - Summary Of Property Plant And Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 256	$ 258
Less: accumulated depreciation	(79)	(25)
Total property, plant and equipment, net	177	233
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 236	236
Property plant and equipment, useful life	5 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 20	$ 22
Computer Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	5 years
Computer Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful life	3 years

Income Taxes - Schedule of Income (Loss) before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
United States	$ (61,091)	$ (39,394)
International	(4,276)	88
Total	$ (65,367)	$ (39,306)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (f)
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands, € in Millions		12 Months Ended
	Apr. 05, 2021	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($) shares	Apr. 01, 2021 shares	Dec. 31, 2020 shares
Summary Of Significant Accounting Policies [Line Items]
No of Warrants outstanding		3,295,000		3,295,000
Cash equivalents \| $				$ 0
Liability for uncertainty in income taxes \| $		$ 0		0
Accrued for interest and penalties \| $		0		$ 0
Federal depository insurance coverage amount \| $		250,000
Asset Impairment Charges \| $		$ 0
German grant income \| €			€ 1.0
Public Warrant
Summary Of Significant Accounting Policies [Line Items]
No of Warrants outstanding				0		6,563,767
No of Warrants outstanding						2,744,586
Shares Issued, Price Per Share \| $ / shares		$ 11.5
Class of warrants exercised					40,491
Warrents expiration date	May 05, 2021
Class of warrant or right redemption threshold trading days		20 days	20 days
Private Warrants
Summary Of Significant Accounting Policies [Line Items]
No of Warrants outstanding		3,295,000				3,570,000
Shares Issued, Price Per Share \| $ / shares		$ 11.5
Class of warrants exercised		275,000
Warrant expiration term		5 years
Class of warrant or right redemption threshold trading days		20 days	20 days
Class of warrant or right redemption threshold consecutive trading days		30 days	30 days
Class of Warrant Or Right Excludes The Warrants Post Business Combination To Remove Cashless Exercise Provision Shares		500,000
Private Warrants \| Common Stock
Summary Of Significant Accounting Policies [Line Items]
Share redemption trigger price \| $ / shares		$ 20
Private Warrants \| Rosedale Park LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Class of warrants exercised		500,000
Warrents expiration date		Mar. 05, 2025	Mar. 05, 2025
Private Warrants \| LifeSci Holdings LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Class of warrants exercised		500,000

Bayer License Agreement	12 Months Ended
Bayer License Agreement	Dec. 31, 2022
Bayer License Agreement [Abstract]
Bayer License Agreement	4. Bayer License Agreement On October 7, 2020 , Legacy Vincerx Pharma entered into the Bayer License Agreement, which became effective on December 23, 2020 upon the closing of the Business Combination. Pursuant to the Bayer License Agreement, Legacy Vincerx Pharma has an exclusive, worldwide, royalty-bearing license under certain Bayer patents and know-how to develop, use, manufacture, commercialize, sublicense and distribute (i) a clinical-stage and follow-on small molecule drug platform, including a P-TEFb inhibitor compound, and (ii) a preclinical stage bioconjugation platform, which includes next-generation antibody-drug conjugates and innovative small molecule drug conjugates. Following the closing of the Business Combination, the Company paid Bayer a $5.0 million upfront license fee on January 5, 2021. As of December 31, 2022, the Company recorded a $1.0 million development milestone payable to Bayer, included within accrued liabilities, in connection with the Company’s IND filing for VIP 236. Each of these milestone obligations were expensed as incurred. If the Company achieves all of the development and commercial sales milestones for license products under the Bayer License Agreement for each of the countries and disease indications, the Company would be obligated to pay milestone payments that range from $110.0 million to up to $318.0 million per licensed product, and upon successful commercialization of at least five licensed products, the Company could be required to pay aggregate milestone payments in excess of $1 billion. In addition to milestone payments, the Company is also required to pay Bayer under the Bayer License Agreement ongoing royalties in the single digit to low double-digit percentage range on net commercial sales of licensed products.

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

Stock option activity under the Plan is as follows (amounts in thousands, except per share amount):


	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2021		1,048		$	19.00		10.0	$	—
Options granted		2,367			18.62		—		—
Options cancelled		(7	)		19.00		—		—

Outstanding at December 31, 2021		3,408			18.74		9.2		—
Options granted		2,509			3.30		—		—
Options exercised		(2	)		0.82		—		—
Options cancelled		(1,562	)		15.89		—		—

Outstanding at December 31, 2022		4,353		$	10.87		8.6	$	125

Options vested and exercisable at December 31, 2022		1,973		$	16.71		7.8	$	5

Summary of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model

The following weighted average assumptions were used as inputs to the Black-Scholes option valuation model in determining the estimated grant-date fair value of the Company’s stock options granted during the year ended December 31, 2022 and 2021:


	For the years ended December 31,
	2022			2021
Exercise price	$	3.30		$	18.62
Expected term (years)		5.8			5.9
Volatility (annual)		85.1	%		76.3	%
Risk-free rate		2.8	%		0.9	%
Dividend yield (per share)		0	%		0	%

Summary of Stock Based Compensation Expense

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations and comprehensive loss for stock option awards is as follows (amounts in thousands):


	For the years ended December 31,
	2022		2021
Research and development	$	7,303	$	14,988
General and administrative		4,689		8,325
Restructuring		447		—

Total stock-based compensation expense	$	12,439	$	23,313

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) before Provision for Income Taxes

Income (loss) before provision for income taxes consisted of the following (amounts in thousands):

	For the Year Ended December 31,
	2022			2021
United States	$	(61,091	)	$	(39,394	)
International		(4,276	)		88

	$	(65,367	)	$	(39,306	)

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows:


	For the Year Ended December 31,
	2022			2021
Statutory federal income tax rate		21.0	%		21.0	%
State taxes, net of federal tax benefit		0.7	%		(1.0	%)
Change in fair value of warrant liabilities		2.0	%		12.4	%
Research and development		(0.7	% )		1.4	%
Other		(0.1	% )		(1.2	%)
Change in valuation allowance		(22.9	% )		(32.6	%)

Income taxes provision (benefit)		0.0	%		0.0	%

Schedule of Net Deferred Tax Assets

Significant components of the Company’s net deferred tax assets as of December 31, 2022 and 2021, are as follows (amounts in thousands):


	As of December 31,
	2022			2021
Deferred tax assets:
Net operating loss	$	9,639		$	4,035
Stock-based compensation		6,620			5,164
Depreciation and amortization		4,198			4,723
Capitalized research and development		7,314			—
Research and development credit		1,635			891
Accruals and reserves		471			575
Lease liability		722			877

Total deferred income tax assets		30,599			16,265
Less: Valuation allowances		(29,955	)		(15,436	)

Deferred tax assets, net of valuation allowances	$	644		$	829

Deferred tax liabilities:
Right of use asset		(644	)		(829	)

Total deferred income tax liabilities	$	(644	)	$	(829	)

Net deferred taxes	$	—		$	—

Schedule of Income Tax Contingencies

The following table summarizes activity related to the Company’s gross unrecognized tax benefits (amounts in thousands):


	Total
Balance as of December 31, 2020	$	—
Increase/decrease due to prior year positions		—
Increase/decrease due to current year positions		518

Balance as of December 31, 2021		518
Increase/decrease due to prior year positions		( 164	)
Increase/decrease due to current year positions		625

Balance as of December 31, 2022	$	979

Stock-Based Compensation

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

11. Stock-Based Compensation

Equity Incentive Plans

In connection with the Business Combination, the stockholders approved the 2020 Plan, which became effective upon the closing of the Business Combination on December 23, 2020. As of December 31, 2022, the Company had 4,540,966 shares of common stock reserved for issuance under the 2020 Plan.

The 2020 Plan allows for the grant of stock options and rights to acquire restricted stock to employees, directors and consultants of the Company. The terms and conditions of specific awards are set at the discretion of the Company’s board of directors. Options granted under the 2020 Plan expire no later than 10 years from the date of grant. Unvested common shares obtained upon early exercise of options are subject to repurchase by the Company at the original issue price.

Stock option activity under the Plan is as follows (amounts in thousands, except per share amount):


	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2021		1,048		$	19.00		10.0	$	—
Options granted		2,367			18.62		—		—
Options cancelled		(7	)		19.00		—		—

Outstanding at December 31, 2021		3,408			18.74		9.2		—
Options granted		2,509			3.30		—		—
Options exercised		(2	)		0.82		—		—
Options cancelled		(1,562	)		15.89		—		—

Outstanding at December 31, 2022		4,353		$	10.87		8.6	$	125

Options vested and exercisable at December 31, 2022		1,973		$	16.71		7.8	$	5

Stock-based compensation expense is based on the grant-date fair value. The Company recognizes compensation expense for all stock-based awards on a straight-line basis over the requisite service period of the awards, which is generally the option vesting term of either two or three years.

The Company recognized stock-based compensation of approximately $12.4 million and $23.3 million during the year ended December 31, 2022 and 2021, respectively.

As of December 31, 2022, the Company had stock-based compensation of approximately $5.2 million related to unvested stock options not yet recognized that are expected to be recognized over an estimated weighted average period of 0.9 years.


	For the years ended December 31,
	2022			2021
Exercise price	$	3.30		$	18.62
Expected term (years)		5.8			5.9
Volatility (annual)		85.1	%		76.3	%
Risk-free rate		2.8	%		0.9	%
Dividend yield (per share)		0	%		0	%

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations and comprehensive loss for stock option awards is as follows (amounts in thousands):


	For the years ended December 31,
	2022		2021
Research and development	$	7,303	$	14,988
General and administrative		4,689		8,325
Restructuring		447		—

Total stock-based compensation expense	$	12,439	$	23,313

Employee Stock Purchase Plan

The Company’s 2021 Employee Stock Purchase Plan (the “ESPP”) became effective in May 2021 upon stockholder approval and is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. 200,000 of our authorized but unissued or reacquired shares of common stock have been reserved for issuance under the ESPP, plus an additional number of shares to be reserved annually on the first day of each fiscal year from January 1, 2022 through January 1, 2031, equal to the least of (i) one percent (1%) of the outstanding shares of the Company’s common stock on such date, (ii) 500,000 shares, or (iii) a lesser amount determined by the compensation committee or the Company’s board.

The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount of up to 15% of their eligible compensation through payroll deductions, subject to any plan limitations. The Company’s ESPP consists of a series of offerings of purchase rights to eligible employees, each with a duration of not more than 12 months and purchase dates every six months. The purchase price cannot, under the terms of the ESPP, be less than 85% of the fair market value per share of the Company’s common stock on either the offering date or on the purchase date, whichever is less. If the fair market value of a share of the Company’s common stock on any purchase date within a particular offering period is less than or equal to the fair market value on the start date of that offering period, then the offering period will automatically terminate and the employees in that offering period will automatically be transferred and enrolled in a new offering period which will begin on the next day following such purchase date.

As of December 31, 2022, 190,724 shares of common stock were reserved for future issuance under the ESPP. Shares issued under the ESPP were 183,366 and 36,485 shares for the years ended December 31, 2022 and 2021, respectively. The Company recorded approximately $278,000 and $176,000 of stock-based compensation expense for the years ended December 31, 2022 and 2021, respectively, related to the ESPP.

Net Loss per Share Applicable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Summary of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of loss per share for the years ended December 31, 2022 and 2021, respectively (amounts in thousands, except per share number):


	For the years ended December 31,
	2022			2021
Numerator:
Net loss	$	(65,367	)	$	(39,306	)

Denominator:
Weighted average common shares outstanding, basic and diluted		21,029			17,176

Net loss per common share, basic and diluted	$	(3.11)		$	(2.29)

Summary of Potential Common Stock Outstanding that was excluded from the Computation of Diluted Net Loss Per Share of Common Stock


	For the years ended December 31,
	2022		2021
Options outstanding		4,353		3,408
Warrants		3,295		3,295

Total		7,648		6,703

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance at Dec. 31, 2020	$ 25,379	$ 1	$ 42,043		$ (16,665)
Beginning Balance, Shares at Dec. 31, 2020		13,984
Issuance of common stock from private placement, net of transaction costs	47,431	$ 1	47,430
Issuance of common stock from private placement, net of transaction costs, Shares		3,500
Issuance of common stock from warrant exercises	40,671		40,671
Issuance of common stock from warrant exercises, Shares		3,537
Issuance of common stock from employee stock plans	351		351
Issuance of common stock from employee stock plans, Shares		36
Reclassification of warrant liabilities to equity due to warrant exercises for cash	2,503		2,503
Stock-based compensation	23,313		23,313
Cumulative translation adjustment	(21)			$ (21)
Unrealized loss on marketable securities	0
Net loss	(39,306)				(39,306)
Ending Balance at Dec. 31, 2021	$ 100,321	$ 2	156,311	(21)	(55,971)
Ending Balance, Shares at Dec. 31, 2021		21,057
Issuance of common stock from warrant exercises, Shares	2,000
Issuance of common stock from employee stock plans	$ 280		280
Issuance of common stock from employee stock plans, Shares		186
Stock-based compensation	12,439		12,439
Cumulative translation adjustment	69			69
Unrealized loss on marketable securities	(74)			(74)
Net loss	(65,367)				(65,367)
Ending Balance at Dec. 31, 2022	$ 47,668	$ 2	$ 169,030	$ (26)	$ (121,338)
Ending Balance, Shares at Dec. 31, 2022		21,243

Income Taxes - Additional Information (Details) - USD ($)		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Provision for income tax		$ 0	$ 0
Current tax expense		0
Deferred tax assets valuation allowance	$ 0	0	0
Increase in valuation allowance		$ 14,500,000	$ 12,400,000
Tax credit carry forward expiration year		2039 days
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Open Tax Year	2019
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Open Tax Year	2022
U.S. Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 38,400,000	$ 38,400,000
State
Operating Loss Carryforwards [Line Items]
Operating loss carry forward expiration year		2039 days
Net operating loss carryforward	700,000	$ 700,000
Research [Member] \| U.S. Federal
Operating Loss Carryforwards [Line Items]
Tax carry forward	1,800,000	1,800,000
Research [Member] \| State
Operating Loss Carryforwards [Line Items]
Tax carry forward	$ 1,000,000	$ 1,000,000

Commitments and Contingencies - Summary of Quantitative Information About the Company's Operating Leases (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 23, 2020	Dec. 31, 2022	Dec. 31, 2021
Lease cost
Operating lease cost		$ 1,196	$ 619
Variable lease cost		0	0
Total operating lease expense	$ 1,200	1,196	619
Operating cash flows from operating leases		1,048	380
Right-of-use assets obtained in exchange for operating lease liabilities		$ 0	$ 4,264
Weighted-average remaining lease term—operating leases		2 years 10 months 24 days	3 years 10 months 24 days
Weighted-average discount rate—operating leases		8.00%	8.00%

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities	$ 50,590
Cash Equivalents Or Marketable Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		$ 0

Business Combination - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares
Business Acquisition [Line Items]
Business combination share issue ratio	0.570895
Vincera Pharma
Business Acquisition [Line Items]
Number of consecutive trading days	20 days
Number of trading days	30 days
Percentage of the earnout shares to be issued to the shareholders of the acquiree company	90.60%
Vincera Pharma \| Volume Weighted Average Price One
Business Acquisition [Line Items]
Daily volume weighted average price per share \| $ / shares	$ 20
Base amount for determining daily volume weighted average price per share \| $	$ 20.0
Vincera Pharma \| Volume Weighted Average Price Two
Business Acquisition [Line Items]
Daily volume weighted average price per share \| $ / shares	$ 35
Base amount for determining daily volume weighted average price per share \| $	$ 20.0
Vincera Pharma \| Volume Weighted Average Price Three
Business Acquisition [Line Items]
Daily volume weighted average price per share \| $ / shares	$ 45
Base amount for determining daily volume weighted average price per share \| $	$ 20.0

Balance Sheet Details (Tables)

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Summary of Other Current Assets

Other current assets consist of the following at December 31 (in thousands):


	December 31, 2022		December 31, 2021
German grant receivable	$	1,372	$	—
Clinical related vendor prepayments		1,560		—
Other		369		95

	$	3,301	$	95

Summary Of Property Plant And Equipment

Property, plant and equipment, net consist of the following at December 31 (in thousands):


	December 31, 2022			December 31, 2021			Estimated Useful Life
Furniture and fixtures	$	236		$	236			5 years
Computers		20			22			3-5 years

Total		256			258
Less: accumulated depreciation		(79	)		(25	)

Total property, plant and equipment, net	$	177		$	233

Summary Of Accrued Expenses

The following table sets forth the components of accrued expenses at December 31, 2022 and 2021, respectively (in thousands):


	December 31, 2022		December 31, 2021
Accrued payroll	$	297	$	531
Accrued bonus		2,042		2,514
Accrued benefits		923		759
Accrued development milestone—Bayer		1,000		—
Accrued manufacturing, clinical trial and related		661		911

	$	4,923	$	4,715

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Dec. 23, 2020	Jul. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Duration of lease agreement	5 years
Date of lease Commencement	Jan. 01, 2021
Annual lease rent	$ 1,200		$ 1,196	$ 619
Operating lease liabilities			3,436
Operating Right of Use Assets			3,064	$ 3,949
Lessee Operating Sub Lease Term Of Contract		18 months
Lessee, operating sub lease, rent amount		$ 50,000
Sublease Income			300
Other Noncurrent Liabilities [Member]
Loss Contingencies [Line Items]
Lease Deposit Liability			$ 50,000

Net Loss per Share Applicable to Common Stockholders - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net loss	$ (65,367)	$ (39,306)
Denominator:
Weighted Average Number of Shares Outstanding, Basic	21,029	17,176
Weighted Average Number of Shares Outstanding, Diluted	21,029	17,176
Earnings Per Share, Basic	$ (3.11)	$ (2.29)
Earnings Per Share, Diluted	$ (3.11)	$ (2.29)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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

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+ Details

Stock-Based Compensation - Additional Information (Details) - USD ($)		12 Months Ended
	May 31, 2020	Dec. 31, 2022	Dec. 31, 2021	May 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation		$ 5,200,000
Amotization period of unrecognized stock based compensation		10 months 24 days
Stock based compensation expense		$ 12,439,000	$ 23,313,000
Share-based Payment Arrangement, Expense		12,439,000	23,313,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation		$ 5,000
Amotization period of unrecognized stock based compensation		1 year 4 months 24 days
Stock based compensation expense		$ 12,400,000	$ 23,300,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 500,000
Employee Stock Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period		3 years
Employee Stock Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period		2 years
Twenty Thousand Twenty Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for issuance		4,540,966
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for issuance		190,724		200,000
Employee stock purchase plan annual increase shares percentage		1.00%
Employee stock purchase plan annual increase shares, shares				500,000
Share based compensation arrangement by share based payment award, discount from market price	15.00%
Purchase price of common stock expressed as a percentage of its fair value	85.00%
Stock issued during period shares employee stock purchase plans		183,366	36,485
Share-based Payment Arrangement, Expense		$ 278,000,000	$ 176,000

Available-For Sale Securities - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-Sale [Line Items]
Debt securities, available-for-sale	$ 40,796
Cash equivalents or marketable securities
Debt Securities, Available-for-Sale [Line Items]
Debt securities, available-for-sale		$ 0

Available-For-Sale Securities - Summary of Available For Sale Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 40,869
Gross Unrealized Gain	0
Gross Unrealized Loss	(73)
Fair Value	40,796
Short-term marketable securities \| Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	15,608
Gross Unrealized Gain	0
Gross Unrealized Loss	(21)
Fair Value	15,587
Short-term marketable securities \| U.S. government treasuries
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,007
Gross Unrealized Gain	0
Gross Unrealized Loss	(2)
Fair Value	1,005
Short-term marketable securities \| U.S. government agency securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	16,105
Gross Unrealized Gain	0
Gross Unrealized Loss	(36)
Fair Value	16,069
Short-term marketable securities \| Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	8,149
Gross Unrealized Gain	0
Gross Unrealized Loss	(14)
Fair Value	$ 8,135

Fair Value Measurement - Summary of Fair Value Assets Measured on Recurring Basis (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	$ 50,590
Cash Equivalents \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	2,266
Cash Equivalents \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	4,496
Cash Equivalents \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	3,032
Short-term marketable securities \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	15,587
Short-term marketable securities \| U.S. government treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	1,005
Short-term marketable securities \| U.S. government agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	16,069
Short-term marketable securities \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	8,135
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	3,271
Level 1 \| Cash Equivalents \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	2,266
Level 1 \| Cash Equivalents \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 1 \| Cash Equivalents \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 1 \| Short-term marketable securities \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 1 \| Short-term marketable securities \| U.S. government treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	1,005
Level 1 \| Short-term marketable securities \| U.S. government agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 1 \| Short-term marketable securities \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	47,319
Level 2 \| Cash Equivalents \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 2 \| Cash Equivalents \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	4,496
Level 2 \| Cash Equivalents \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	3,032
Level 2 \| Short-term marketable securities \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	15,587
Level 2 \| Short-term marketable securities \| U.S. government treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 2 \| Short-term marketable securities \| U.S. government agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	16,069
Level 2 \| Short-term marketable securities \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	8,135
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Cash Equivalents \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Cash Equivalents \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Cash Equivalents \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Short-term marketable securities \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Short-term marketable securities \| U.S. government treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Short-term marketable securities \| U.S. government agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	0
Level 3 \| Short-term marketable securities \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents and marketable securities	$ 0