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Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid research and development costs ($9.4 million and $6.3 million from related party in 2024 and 2023, respectively)	$ 14,603	$ 19,085
Prepaid other	4,561	4,273
Other receivables	906	939
Total prepaid expenses and other current assets	$ 20,070	$ 24,297

Stockholders' Equity

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Stockholders' Equity

9. Stockholders’ Equity

Preferred Stock

Subsequent to the IPO, the Company's board of directors has the authority to issue up to 50,000,000 shares of preferred stock in one or more series with rights, preferences and privileges to be determined. There are no shares of preferred stock issued and outstanding as of March 31, 2024.

Common Stock

Common stock outstanding in the condensed consolidated balance sheet and condensed consolidated statement of stockholders’ equity as of March 31, 2024 includes 447,931 shares of restricted stock that vest based on service conditions and are subject to the Company’s right of repurchase upon termination of services and 637,240 shares of restricted stock that vest based on performance conditions (see Note 10). Common stock reserved for future issuance consisted of the following:


	March 31, 2024
	(in thousands)
Shares reserved for options and restricted stock units issued under the plans		17,084
Shares reserved for future issuance under the plans		19,965
Total		37,049

In addition, the Company may be required to issue additional shares of its capital stock if certain milestone conditions are met pursuant to the contingent consideration associated with the Company’s acquisitions of assets (see Note 6). In December 2023, 6,072,445 shares of common stock were issued related to BlackThorn Merger Agreement upon achievement of the Phase 3 navacaprant dosing milestone that was met in October 2023. As of March 31, 2024, no shares have been reserved for potential future issuances as no other BlackThorn Milestones have been achieved.

- Definition

The entire disclosure for equity.

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+ Details

Stockholders' Equity - Schedule of Common Stock Reserved for Future Issuance (Details) shares in Thousands	Mar. 31, 2024 shares
Class of Stock [Line Items]
Common stock reserved for future issuance	37,049
Shares Reserved for Options and Restricted Stock Units Issued Under the Plans
Class of Stock [Line Items]
Common stock reserved for future issuance	17,084
Shares Reserved for Future Issuance Under the Plans
Class of Stock [Line Items]
Common stock reserved for future issuance	19,965

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by level within the valuation hierarchy:


	March 31, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	142,817	$	—	$	—	$	142,817
Marketable securities:
Commercial paper		—		69,577		—		69,577
Certificates of deposit		—		11,671		—		11,671
U.S. government and agency debt securities		115,062		7,490		—		122,552
Corporate debt securities		—		36,290		—		36,290
Total assets measured at fair value	$	257,879	$	125,028	$	—	$	382,907


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	306,801	$	—	$	—	$	306,801
Marketable securities:
Commercial paper		—		90,008		—		90,008
U.S. government and agency debt securities		19,473		30,943		—		50,416
Corporate debt securities		—		4,818		—		4,818
Total assets measured at fair value	$	326,274	$	125,769	$	—	$	452,043

Fair Value Measurements - Additional Information (Details)	Mar. 31, 2024 $ / shares
Fair Value Disclosures [Abstract]
Net asset value per share	$ 1

- Definition

Net asset value per share or per unit of investments in certain entities that calculate net asset value per share. Includes, but is not limited to, by unit, membership interest, or other ownership interest. Investment includes, but is not limited to, investment in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Excludes fair value disclosure.

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+ Details

Stock-Based Compensation - Summary of Stock-Based Compensation Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 7,373	$ 2,195
Research and Development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	2,812	1,403
General and Administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 4,561	$ 792

- Definition

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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating expenses:
Research and development	$ 45,757	$ 29,485
General and administrative	14,317	9,683
Total operating expenses	60,074	39,168
Loss from operations	(60,074)	(39,168)
Other income (expense):
Interest income	6,365	3,569
Other expense, net	(12)	(26)
Total other income	6,353	3,543
Net loss	(53,721)	(35,625)
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities	(72)	476
Comprehensive loss	$ (53,793)	$ (35,149)
Net loss per share, basic	$ (0.34)	$ (1.22)
Net loss per share, diluted	$ (0.34)	$ (1.22)
Weighted-average shares outstanding, basic	157,943	29,277
Weighted-average shares outstanding, diluted	157,943	29,277

Organization and Liquidity - Additional information (Details) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended
	Sep. 19, 2023 USD ($) $ / shares shares	Mar. 31, 2024 USD ($) Program	Sep. 30, 2023	Dec. 31, 2023 USD ($)	Sep. 20, 2023 shares	Mar. 31, 2023 USD ($)
Organization and Liquidity [Line items]
Number of clinical and preclinical neuroscience programs \| Program		7
Reverse stock split		7.8463-for-1
Reverse stock split conversion ratio			0.1274
Preferred stock, shares authorized \| shares					50,000,000
Accumulated deficit		$ (757,155)		$ (703,434)
Cash and cash equivalents		182,927		374,038		$ 210,870
Marketable securities		239,788		$ 79,944
Initial Public Offering
Organization and Liquidity [Line items]
Common stock sold in initial public offering \| shares	14,710,000
Price to public, per share \| $ / shares	$ 17
Proceeds from initial public offering	$ 226,500
Underwriting discounts and commissions	17,500
Offering expenses	$ 6,000
Common stock shares authorized \| shares	700,000,000
Common stock, par value \| $ / shares	$ 0.0001
Preferred stock, shares authorized \| shares	50,000,000
Preferred stock, par value \| $ / shares	$ 0.0001
Number of convertible preferred stock automatically converted into shares of common stock \| shares	104,417,415
Liquidity
Organization and Liquidity [Line items]
Accumulated deficit		757,200
Cash, cash equivalents, and marketable securities		$ 423,000

Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

7. Commitments and Contingencies

Indemnification

In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend an indemnified party for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. The Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. The Company has also entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by Delaware corporate law. The Company currently has directors’ and officers’ insurance.

Other Commitments

The Company has various manufacturing, clinical, research and other contracts with vendors in the conduct of the normal course of its business. Such contracts are generally terminable with advanced written notice and payment for any products or services received by the Company through the effective time of termination and any non-cancelable and non-refundable obligations incurred by the vendor at the effective time of the termination. In the case of terminating a clinical trial agreement at a particular site, the Company would also be obligated to provide continued support for appropriate medical procedures at that site until completion or termination.

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following:


	March 31, 2024
	(in thousands)
Shares reserved for options and restricted stock units issued under the plans		17,084
Shares reserved for future issuance under the plans		19,965
Total		37,049

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Prepaid research and development costs from related party	$ 14,603	$ 19,085
Related Party
Related Party Transaction [Line Items]
Prepaid research and development costs from related party	$ 9,400	$ 6,300

Balance Sheet Components

3 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	March 31,		December 31,
	2024		2023
	(in thousands)
Prepaid research and development costs ($9.4 million and $6.3 million from related party in 2024 and 2023, respectively)	$	14,603	$	19,085
Prepaid other		4,561		4,273
Other receivables		906		939
Total prepaid expenses and other current assets	$	20,070	$	24,297

Accrued Liabilities

Accrued liabilities consisted of the following:


	March 31,		December 31,
	2024		2023
	(in thousands)
Compensation and benefits	$	4,660	$	10,011
Accrued research and development services ($6.3 million and $3.1 million due to related party in 2024 and 2023, respectively)		7,442		5,004
Professional services		926		787
Accrued clinical trial and preclinical costs		5,923		4,705
Other		542		750
Total accrued liabilities	$	19,493	$	21,257

Summary of Significant Accounting Policies and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Basis of Presentation	2. Summary of Significant Accounting Policies and Basis of Presentation Basis of Presentation and Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Unaudited Interim Condensed Consolidated Financial Statements The condensed consolidated balance sheet as of March 31, 2024, condensed consolidated statements of operations and comprehensive loss, statement of stockholders’ equity (deficit), and the condensed consolidated statements of cash flows for the three months ended March 31, 2024 and 2023, and related notes to condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair statement of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year or for any other future annual or interim period. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2023 included in the Company’s Annual Form 10-K. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments the Company makes about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company bases its estimates and judgments on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions the Company may undertake in the future. These judgments, estimates and assumptions are used for, but not limited to, accrued research and development expenses, accounting for acquisitions of assets, fair value of certain assets and liabilities, the fair value of the Company’s convertible preferred stock, the fair value of the Company’s common stock, stock-based compensation, the measurement of right-of-use assets and lease liabilities and related incremental borrowing rate, and uncertain tax positions and the valuation allowance for net deferred tax assets. Actual results may differ from the Company’s estimates. Risks and Uncertainties The Company is subject to certain risks and uncertainties, including, but not limited to, changes in any of the following areas that the Company believes could have a material adverse effect on future financial position or results of operations: successfully develop, manufacture, and market any approved products; obtain regulatory approval from the U.S. Food and Drug Administration or foreign regulatory agencies prior to commercial sales; new technological innovations; dependence on key personnel, protection of intellectual property; compliance with governmental regulations; uncertainty of market acceptance of any approved products; product liability; and the need to obtain additional financing. Marketable Securities The Company invests its excess cash in marketable debt securities with high credit ratings including but not limited to money market funds, securities issued by the U.S. government and its agencies, commercial paper, certificates of deposit, and corporate debt securities that are accounted for as available-for-sale and carried at fair value. Marketable securities are classified as short-term or long-term based on the maturity date and their availability to meet current operating requirements. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income in the condensed consolidated statements of operations and comprehensive loss. Realized gains and losses on marketable securities, if any, are included in other income (expense), net. The cost of securities sold is determined based on the trade date using the specific identification method. The Company periodically assesses its available-for-sale debt securities for impairment. For debt securities in an unrealized loss position, this assessment first considers the Company’s intent to sell, or whether it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value within other income (expense), net. For debt securities in an unrealized loss position that do not meet the aforementioned criteria, the Company assesses whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security is considered, among other factors. If this assessment indicates that a credit loss may exist, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses will be recorded in other income (expense), net, limited by the amount that the fair value is less than the amortized cost basis. Any additional impairment not recorded through an allowance for credit losses is recognized in other comprehensive income (loss). Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the un-collectability of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. These changes are recorded in other income (expense), net. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company measures fair value by maximizing the use of observable inputs, where available, and minimizing the use of unobservable inputs when measuring fair value. Financial assets and liabilities recorded at fair value in the condensed consolidated balance sheets are categorized in the fair value hierarchy based upon the lowest level of input that is significant to the fair value as follows: Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable inputs for similar assets or liabilities. These include quoted prices for identical or similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. 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 of the instrument. Research and Development Expenses and Related Prepaid Assets and Accrued Liabilities Research and development costs are expensed as incurred. Research and development expenses primarily consist of internal research and development expense, including personnel-related expenses (such as salaries, benefits and noncash stock-based compensation) and other expenses, including laboratory supplies and other non-capital equipment utilized for in-house research, research and consulting expenses, software development costs, license fees and allocated expenses, including facilities costs and depreciation and amortization; external research and development expenses incurred under arrangements with vendors conducting research and development services on its behalf, such as contract research organizations (CROs), preclinical testing organizations and contract manufacturing organizations (CMOs). Costs to develop the Company’s platform information technologies are recorded as research and development expense unless the criteria to be capitalized as internal-use software costs is met. Payments made prior to the receipt of goods or services to be used in research and development are capitalized, evaluated for current or long-term classification, and included in prepaid expenses and other current assets or other assets in the condensed consolidated balance sheets based on when the goods are received or the services are expected to be received or consumed, and recognized in research and development expenses when they are realized. The Company is required to estimate expenses resulting from its obligations under contracts with vendors, service providers and clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts are subject to negotiations which vary from contract to contract and may result in cash flows that do not match the periods over which materials or services are provided. The Company estimates and records accrued expenses for the related research and development activities based on the level of services performed but not yet invoiced pursuant to agreements established with its service providers, according to the progress of preclinical studies, clinical trials or related activities, and discussions with applicable personnel and service providers as to the progress or state of consummation of goods and services. During the course of a clinical trial, the rate of expense recognition is adjusted if actual results differ from the Company’s estimates. The Company estimates accrued expenses as of each balance sheet date in its condensed consolidated financial statements based on the facts and circumstances known at that time. The clinical trial accrual is dependent in part upon the timely and accurate reporting of CROs, CMOs and other third-party vendors. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its estimate may vary from the actual results. To date, the Company has not experienced material differences between its accrued expenses and actual expenses. Comprehensive Loss Comprehensive loss includes net loss and certain changes in stockholders’ equity (deficit) that are excluded from net loss, such as unrealized losses on the Company’s available-for-sale marketable securities. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. Recent Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Standards Accounting Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (ASU 2023-09), which requires issuers to make additional discloses on an annual basis related to specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold on an annual basis, disclose additional information about income taxes paid as well as other disaggregated disclosures. ASU 2023-09 will be effective for the Company as of January 1, 2025 for annual periods. The Company is evaluating the impact of this ASU on its condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (ASU 2023-07), which requires issuers to make additional disclosures with respect to segment expenses, including required disclosure on an annual and interim basis for significant segment expenses and other segment items. ASU 2023-07 also permits the disclosure of more than one measure of a segment’s profit or loss. ASU 2023-07 will be effective for the Company as of January 1, 2024 for annual periods and as of January 1, 2025 for interim periods. The Company is evaluating the impact of this ASU on its condensed consolidated financial statements.

Balance Sheet Components - Schedule of Accrued Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued research and development services due to related party	$ 6.3	$ 3.1

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 182,927	$ 374,038
Short-term marketable securities	239,788	79,944
Prepaid expenses and other current assets	20,070	24,297
Total current assets	442,785	478,279
Long-term marketable securities	302	9,845
Property and equipment, net	1,635	1,790
Operating lease right-of-use assets	4,276	5,068
Restricted cash	1,213	1,213
Total assets	450,211	496,195
Current liabilities:
Accounts payable	1,492	337
Accrued liabilities	19,493	21,257
Early exercise liability, current portion	133	139
Operating lease liabilities, current portion	3,491	3,378
Total current liabilities	24,609	25,111
Operating lease liabilities, net of current portion	938	1,853
Early exercise liability, net of current portion	122	155
Total liabilities	25,669	27,119
Commitments and contingencies
Stockholders' equity (deficit):
Common stock	16	16
Additional paid-in capital	1,181,829	1,172,570
Accumulated other comprehensive loss	(148)	(76)
Accumulated deficit	(757,155)	(703,434)
Total stockholders' equity	424,542	469,076
Total liabilities and stockholders' equity	$ 450,211	$ 496,195

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance at Beginning at Dec. 31, 2022	$ (446,850)		$ 3	$ 21,430	$ (774)	$ (467,509)
Balance at Beginning at Dec. 31, 2022		$ 843,687
Balance at Beginning (in Shares) at Dec. 31, 2022			32,612
Balance at Beginning (in Shares) at Dec. 31, 2022		104,417
Issuance of common stock upon exercise of stock options	602			602
Issuance of common stock upon exercise of stock options, shares			219
Repurchase of unvested early exercised stock options			(123)
Vesting of restricted common stock	1,282			1,282
Unrealized gain (loss) on marketable securities	476				476
Stock-based compensation	2,195			2,195
Net loss	(35,625)					(35,625)
Balance at Ending at Mar. 31, 2023	(477,920)		$ 3	25,509	(298)	(503,134)
Balance at Ending at Mar. 31, 2023		$ 843,687
Balance at Ending (in Shares) at Mar. 31, 2023			32,708
Balance at Ending (in Shares) at Mar. 31, 2023		104,417
Balance at Beginning at Dec. 31, 2023	469,076		$ 16	1,172,570	(76)	(703,434)
Balance at Beginning (in Shares) at Dec. 31, 2023			158,832
Issuance of common stock upon exercise of stock options	1,845			1,845
Issuance of common stock upon exercise of stock options, shares			525
Vesting of restricted common stock	41			41
Unrealized gain (loss) on marketable securities	(72)				(72)
Stock-based compensation	7,373			7,373
Net loss	(53,721)					(53,721)
Balance at Ending at Mar. 31, 2024	$ 424,542		$ 16	$ 1,181,829	$ (148)	$ (757,155)
Balance at Ending (in Shares) at Mar. 31, 2024			159,357

Cash Equivalents and Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2024

Cash Equivalents and Marketable Securities [Abstract]

Summary of Amortized Cost and Fair Value of Cash Equivalents and Marketable Securities by Major Investment Category

The following tables summarize the amortized cost and fair value of the Company’s cash equivalents and marketable securities by major investment category for the periods indicated:


	March 31, 2024
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	142,817	$	—	$	—		$	142,817
Total cash equivalents	$	142,817	$	—	$	—		$	142,817
Marketable securities:
Commercial paper	$	69,612	$	1	$	(36	)	$	69,577
Certificates of deposit		11,669		3		(1	)		11,671
U.S. government and agency debt securities		122,660		—		(108	)		122,552
Corporate debt securities		36,297		5		(12	)		36,290
Total marketable securities		240,238		9		(157	)		240,090
Total cash equivalents and marketable securities	$	383,055	$	9	$	(157	)	$	382,907


	December 31, 2023
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	306,801	$	—	$	—		$	306,801
Commercial paper		42,455		6		—			42,461
U.S. government and agency debt securities		12,998		—		(6	)		12,992
Total cash equivalents	$	362,254	$	6	$	(6	)	$	362,254
Marketable securities:
Commercial paper	$	47,534	$	17	$	(4	)	$	47,547
U.S. government and agency debt securities		37,515		—		(91	)		37,424
Corporate debt securities		4,816		3		(1	)		4,818
Total marketable securities		89,865		20		(96	)		89,789
Total cash equivalents and marketable securities	$	452,119	$	26	$	(102	)	$	452,043

Summary of Marketable Securities by Contractual Maturity

The Company’s marketable securities by contractual maturity were (in thousands):


	March 31, 2024
Within one year	$	239,788
After one year through two years		302
Total marketable securities	$	240,090

Fair Value Measurements

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair Value Measurements

The carrying amounts of the Company’s financial instruments, including prepaid expenses and other current assets, accounts payable, accrued liabilities and the current portion of operating lease liabilities approximate fair value due to the short-term nature of those instruments.

The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by level within the valuation hierarchy:


	March 31, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	142,817	$	—	$	—	$	142,817
Marketable securities:
Commercial paper		—		69,577		—		69,577
Certificates of deposit		—		11,671		—		11,671
U.S. government and agency debt securities		115,062		7,490		—		122,552
Corporate debt securities		—		36,290		—		36,290
Total assets measured at fair value	$	257,879	$	125,028	$	—	$	382,907


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	306,801	$	—	$	—	$	306,801
Marketable securities:
Commercial paper		—		90,008		—		90,008
U.S. government and agency debt securities		19,473		30,943		—		50,416
Corporate debt securities		—		4,818		—		4,818
Total assets measured at fair value	$	326,274	$	125,769	$	—	$	452,043

Money market funds are highly liquid and actively traded marketable securities that generally transact at a stable $1.00 net asset value representing its estimated fair value. The Company estimates the fair value of its commercial paper, certificates of deposit, U.S. government and agency debt securities, and corporate debt securities by taking into consideration valuations obtained from third-party pricing services. 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, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data, and other observable inputs.

Summary of Significant Accounting Policies and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Unaudited Interim Condensed Consolidated Financial Statements	Unaudited Interim Condensed Consolidated Financial Statements The condensed consolidated balance sheet as of March 31, 2024, condensed consolidated statements of operations and comprehensive loss, statement of stockholders’ equity (deficit), and the condensed consolidated statements of cash flows for the three months ended March 31, 2024 and 2023, and related notes to condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair statement of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year or for any other future annual or interim period. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2023 included in the Company’s Annual Form 10-K.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments the Company makes about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company bases its estimates and judgments on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions the Company may undertake in the future. These judgments, estimates and assumptions are used for, but not limited to, accrued research and development expenses, accounting for acquisitions of assets, fair value of certain assets and liabilities, the fair value of the Company’s convertible preferred stock, the fair value of the Company’s common stock, stock-based compensation, the measurement of right-of-use assets and lease liabilities and related incremental borrowing rate, and uncertain tax positions and the valuation allowance for net deferred tax assets. Actual results may differ from the Company’s estimates.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to certain risks and uncertainties, including, but not limited to, changes in any of the following areas that the Company believes could have a material adverse effect on future financial position or results of operations: successfully develop, manufacture, and market any approved products; obtain regulatory approval from the U.S. Food and Drug Administration or foreign regulatory agencies prior to commercial sales; new technological innovations; dependence on key personnel, protection of intellectual property; compliance with governmental regulations; uncertainty of market acceptance of any approved products; product liability; and the need to obtain additional financing.
Marketable Securities	Marketable Securities The Company invests its excess cash in marketable debt securities with high credit ratings including but not limited to money market funds, securities issued by the U.S. government and its agencies, commercial paper, certificates of deposit, and corporate debt securities that are accounted for as available-for-sale and carried at fair value. Marketable securities are classified as short-term or long-term based on the maturity date and their availability to meet current operating requirements. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income in the condensed consolidated statements of operations and comprehensive loss. Realized gains and losses on marketable securities, if any, are included in other income (expense), net. The cost of securities sold is determined based on the trade date using the specific identification method. The Company periodically assesses its available-for-sale debt securities for impairment. For debt securities in an unrealized loss position, this assessment first considers the Company’s intent to sell, or whether it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value within other income (expense), net. For debt securities in an unrealized loss position that do not meet the aforementioned criteria, the Company assesses whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security is considered, among other factors. If this assessment indicates that a credit loss may exist, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses will be recorded in other income (expense), net, limited by the amount that the fair value is less than the amortized cost basis. Any additional impairment not recorded through an allowance for credit losses is recognized in other comprehensive income (loss). Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the un-collectability of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. These changes are recorded in other income (expense), net.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company measures fair value by maximizing the use of observable inputs, where available, and minimizing the use of unobservable inputs when measuring fair value. Financial assets and liabilities recorded at fair value in the condensed consolidated balance sheets are categorized in the fair value hierarchy based upon the lowest level of input that is significant to the fair value as follows: Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable inputs for similar assets or liabilities. These include quoted prices for identical or similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. 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 of the instrument.
Research and Development Expenses and Related Prepaid Assets and Accrued Liabilities	Research and Development Expenses and Related Prepaid Assets and Accrued Liabilities Research and development costs are expensed as incurred. Research and development expenses primarily consist of internal research and development expense, including personnel-related expenses (such as salaries, benefits and noncash stock-based compensation) and other expenses, including laboratory supplies and other non-capital equipment utilized for in-house research, research and consulting expenses, software development costs, license fees and allocated expenses, including facilities costs and depreciation and amortization; external research and development expenses incurred under arrangements with vendors conducting research and development services on its behalf, such as contract research organizations (CROs), preclinical testing organizations and contract manufacturing organizations (CMOs). Costs to develop the Company’s platform information technologies are recorded as research and development expense unless the criteria to be capitalized as internal-use software costs is met. Payments made prior to the receipt of goods or services to be used in research and development are capitalized, evaluated for current or long-term classification, and included in prepaid expenses and other current assets or other assets in the condensed consolidated balance sheets based on when the goods are received or the services are expected to be received or consumed, and recognized in research and development expenses when they are realized. The Company is required to estimate expenses resulting from its obligations under contracts with vendors, service providers and clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts are subject to negotiations which vary from contract to contract and may result in cash flows that do not match the periods over which materials or services are provided. The Company estimates and records accrued expenses for the related research and development activities based on the level of services performed but not yet invoiced pursuant to agreements established with its service providers, according to the progress of preclinical studies, clinical trials or related activities, and discussions with applicable personnel and service providers as to the progress or state of consummation of goods and services. During the course of a clinical trial, the rate of expense recognition is adjusted if actual results differ from the Company’s estimates. The Company estimates accrued expenses as of each balance sheet date in its condensed consolidated financial statements based on the facts and circumstances known at that time. The clinical trial accrual is dependent in part upon the timely and accurate reporting of CROs, CMOs and other third-party vendors. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its estimate may vary from the actual results. To date, the Company has not experienced material differences between its accrued expenses and actual expenses.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss and certain changes in stockholders’ equity (deficit) that are excluded from net loss, such as unrealized losses on the Company’s available-for-sale marketable securities.
Emerging Growth Company Status	Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Standards Accounting Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (ASU 2023-09), which requires issuers to make additional discloses on an annual basis related to specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold on an annual basis, disclose additional information about income taxes paid as well as other disaggregated disclosures. ASU 2023-09 will be effective for the Company as of January 1, 2025 for annual periods. The Company is evaluating the impact of this ASU on its condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (ASU 2023-07), which requires issuers to make additional disclosures with respect to segment expenses, including required disclosure on an annual and interim basis for significant segment expenses and other segment items. ASU 2023-07 also permits the disclosure of more than one measure of a segment’s profit or loss. ASU 2023-07 will be effective for the Company as of January 1, 2024 for annual periods and as of January 1, 2025 for interim periods. The Company is evaluating the impact of this ASU on its condensed consolidated financial statements.

Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended				3 Months Ended		12 Months Ended
	Jul. 31, 2023	Jun. 30, 2023	Jan. 31, 2022	Jun. 30, 2021	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2020	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance					37,049,000
Share based compensation recognized					$ 7,373,000	$ 2,195,000
Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation recognized					$ 100	$ 0
Executives
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted to purchase					446,068
Advisors
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation forfeited					254,896
Market Award
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation granted under plan vested period		3 years
Grant date fair value				$ 900,000
Expected volatility				100.00%
Risk-free rate				1.60%
Total incremental expense resulted in modification		$ 100,000	$ 300,000
Market Award \| Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options vested		111,517	223,034
Market Award \| Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options vested		111,517	111,517
Market Award \| Tranche Three
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options vested			111,517
Market Award \| Executives
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted, exercise price				$ 2.52
Market Award \| Executives \| Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted, outstanding stock options				446,068
Awards with Performance Conditions
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted, outstanding stock options					401,462
Stock options, cancelled	299,503
Awards with Performance Conditions \| Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted, outstanding stock options							700,965
Awards with Performance Conditions \| Restricted Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted, outstanding stock options					382,344		892,136
Stock options, cancelled	254,896				254,896
Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation					$ 89,700,000
Weighted-average remaining service period					2 years 7 months 6 days
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation forfeited					0
Unvested shares repurchased					0
Shares or restricted stock remained outstanding and unvested					650,000			840,000
Unrecognized stock-based compensation					$ 28,200,000
Weighted-average remaining service period					3 years 4 months 24 days
2023 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation, term of plan					10 years
Share based compensation granted under plan vested period					4 years
Common stock reserved for future issuance					16,373,061
2023 Equity Incentive Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grants vest percentage					100.00%
2020 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted, outstanding stock options					0
2023 Employee Share Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance					1,526,984

Stock-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-Average Remaining Contractual Term, Exercisable	7 years 7 months 6 days
Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning balance, Outstanding Stock Options	13,783
Granted, outstanding stock options	2,841
Exercised, Outstanding Stock Options	(525)
Canceled and forfeited, Outstanding Stock Options	(884)
Expired, Outstanding Stock Options	(85)
Ending balance, Outstanding Stock Options	15,130	13,783
Vested, outstanding stock options	3,667
Exercisable, Outstanding Stock Options	3,659
Weighted-Average Exercise Price Per Share, Outstanding, beginning of period	$ 6.39
Weighted-Average Exercise Price Per Share, Granted	17.43
Weighted-Average Exercise Price Per Share, Exercised	3.51
Weighted-Average Exercise Price Per Share, Canceled and forfeited	5.93
Weighted-Average Exercise Price Per Share, Expired	3.37
Weighted-Average Exercise Price Per Share, Outstanding, end of period	8.6	$ 6.39
Weighted-Average Exercise Price Per Share, Vested	4.43
Weighted-Average Exercise Price Per Share, Exercisable	$ 4.44
Weighted-Average Remaining Contractual Term, Outstanding (Years)	8 years 9 months 18 days	8 years 8 months 12 days
Weighted-Average Remaining Contractual Term, Vested	7 years 7 months 6 days
Aggregate Intrinsic Value, Outstanding	$ 90,736	$ 146,966
Aggregate Intrinsic Value, Vested	34,256
Aggregate Intrinsic Value, Exercisable	$ 34,145

Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Compensation and benefits	$ 4,660	$ 10,011
Accrued research and development services	7,442	5,004
Professional services	926	787
Accrued clinical trial and preclinical costs	5,923	4,705
Other	542	750
Total accrued liabilities	$ 19,493	$ 21,257

Cash Equivalents and Marketable Securities - Summary of Amortized Cost and Fair Value of Cash Equivalents and Marketable Securities by Major Investment Category (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 383,055	$ 452,119
Gross Unrealized Gain	9	26
Gross Unrealized Loss	(157)	(102)
Estimated Fair Value	382,907	452,043
Cash Equivalents
Cash and Cash Equivalents [Line Items]
Amortized Cost	142,817	362,254
Gross Unrealized Gain	0	6
Gross Unrealized Loss	0	(6)
Estimated Fair Value	142,817	362,254
Cash Equivalents \| Money Market Funds
Cash and Cash Equivalents [Line Items]
Amortized Cost	142,817	306,801
Gross Unrealized Gain	0	0
Gross Unrealized Loss	0	0
Estimated Fair Value	142,817	306,801
Cash Equivalents \| U.S Government and Agency Debt Securities
Cash and Cash Equivalents [Line Items]
Amortized Cost		12,998
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(108)	(6)
Estimated Fair Value	122,552	12,992
Cash Equivalents \| Commercial Paper
Cash and Cash Equivalents [Line Items]
Amortized Cost		42,455
Gross Unrealized Gain	3	6
Gross Unrealized Loss	(1)	0
Estimated Fair Value	11,671	42,461
Marketable Securities
Cash and Cash Equivalents [Line Items]
Amortized Cost	240,238	89,865
Gross Unrealized Gain	9	20
Gross Unrealized Loss	(157)	(96)
Estimated Fair Value	240,090	89,789
Marketable Securities \| U.S Government and Agency Debt Securities
Cash and Cash Equivalents [Line Items]
Amortized Cost	122,660	37,515
Gross Unrealized Gain		0
Gross Unrealized Loss		(91)
Estimated Fair Value		37,424
Marketable Securities \| Corporate Debt Securities
Cash and Cash Equivalents [Line Items]
Amortized Cost	36,297	4,816
Gross Unrealized Gain	5	3
Gross Unrealized Loss	(12)	(1)
Estimated Fair Value	36,290	4,818
Marketable Securities \| Commercial Paper
Cash and Cash Equivalents [Line Items]
Amortized Cost	69,612	47,534
Gross Unrealized Gain	1	17
Gross Unrealized Loss	(36)	(4)
Estimated Fair Value	69,577	$ 47,547
Marketable Securities \| Certificates of Deposit
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 11,669

Stock-Based Compensation - Summary of Restricted Stock Activity (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding and unvested, Shares at beginning balance \| shares	840
Granted, Shares \| shares	0
Vested, Shares \| shares	(190)
Forfeited and canceled, Shares \| shares	0
Outstanding and unvested, Shares at ending balance \| shares	650
Outstanding and unvested, Weighted Average Grant Date Fair Value Per Share at beginning balance \| $ / shares	$ 6.11
Granted, Weighted Average Grant Date Fair Value Per Share \| $ / shares	0
Vested, Weighted Average Grant Date Fair Value Per Share \| $ / shares	0.26
Forfeited and canceled, Weighted Average Grant Date Fair Value Per Share \| $ / shares	0
Outstanding and unvested, Weighted Average Grant Date Fair Value Per Share at ending balance \| $ / shares	$ 7.81
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding and unvested, Shares at beginning balance \| shares	353
Granted, Shares \| shares	1,165
Vested, Shares \| shares	0
Forfeited and canceled, Shares \| shares	(10)
Outstanding and unvested, Shares at ending balance \| shares	1,508
Outstanding and unvested, Weighted Average Grant Date Fair Value Per Share at beginning balance \| $ / shares	$ 17
Granted, Weighted Average Grant Date Fair Value Per Share \| $ / shares	18.07
Vested, Weighted Average Grant Date Fair Value Per Share \| $ / shares	0
Forfeited and canceled, Weighted Average Grant Date Fair Value Per Share \| $ / shares	18.07
Outstanding and unvested, Weighted Average Grant Date Fair Value Per Share at ending balance \| $ / shares	$ 17.83

Stock-Based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

10. Stock-Based Compensation

2023 Equity Incentive Plan

In September 2023, the Company adopted the 2023 Equity Incentive Plan (the 2023 Plan) that became effective in connection with the Company’s IPO. The 2023 Plan provides for the grant of stock options, restricted stock awards, restricted stock unit awards, and other stock-based awards to employees, directors, and non-employee service providers of the Company.

Awards granted under the 2023 Plan expire no later than ten years from the date of grant. The price of stock options shall not be less than 100% of the estimated fair value on the date of grant and typically vest over a four-year period although may be granted with different vesting terms. The 2023 Plan initially reserved 16,373,061 shares of common stock for the issuance of future awards and provides for an automatic annual increase in the number of shares of common stock reserved for future issuance under the 2023 Plan.

2023 Employee Share Purchase Plan

In September 2023, the Company adopted the 2023 Employee Share Purchase Plan (the 2023 ESPP) that became effective in connection with the Company’s IPO. The 2023 ESPP initially reserved 1,526,984 shares of common stock for the issuance of future awards and provides for an automatic annual increase in the number of shares of common stock reserved for future issuance under the 2023 ESPP.

2020 Equity Incentive Plan

In January 2020, the Company adopted the 2020 Equity Incentive Plan (the 2020 Plan) that provides for the grant of stock options, restricted stock awards, restricted stock unit awards, and other stock-based awards to employees, directors, and non-employee service providers of the Company. The 2020 Plan was suspended in connection with the Company’s IPO and no further grants will be made under the 2020 Plan. The 2020 Plan continues to govern the terms and conditions of outstanding awards granted under the 2020 Plan.

2015 Equity Incentive Plan

Upon the closing of the BlackThorn acquisition in September 2020, the Company assumed BlackThorn’s 2015 Equity Incentive Plan (the 2015 Plan, and collectively with the 2020 Plan and 2023 Plan, the Plans), pursuant to which outstanding stock options previously granted under the 2015 Plan converted into stock options to purchase common stock of the Company, which remain subject to the terms and conditions of the 2015 Plan. The 2015 Plan was suspended in connection with the closing of the acquisition of BlackThorn in September 2020.

Stock Option Activity


	Outstanding Stock Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(in thousands, except per share amounts and years)
Outstanding as of December 31, 2023		13,783		$	6.39		8.7	$	146,966
Granted		2,841			17.43
Exercised		(525	)		3.51
Canceled and forfeited		(884	)		5.93
Expired		(85	)		3.37
Outstanding as of March 31, 2024		15,130		$	8.60		8.8	$	90,736
Vested as of March 31, 2024		3,667		$	4.43		7.6	$	34,256
Exercisable as of March 31, 2024		3,659		$	4.44		7.6	$	34,145

The stock option activity table above excludes options granted to purchase 446,068 shares of common stock that were originally granted with market conditions to one of the Company’s executives.

Restricted Stock Activity

The Company’s Plans allow for the grant of restricted common stock and restricted stock units to certain employees, executives, non-employee scientific advisors, and third-party service providers. The restrictions lapse over time primarily according to service-based vesting conditions of each award. In the event of a voluntary or involuntary termination of the holder’s continuous provision of services to the Company, any unvested portion of the restricted stock award is automatically forfeited.

The following table summarizes the Company’s restricted stock activity:


	Shares of Restricted Common Stock			Weighted- Average Grant Date Fair Value Per Share		Shares of Restricted Stock Units			Weighted- Average Grant Date Fair Value Per Share
	(in thousands, except per share amounts)
Outstanding and unvested as of December 31, 2023		840		$	6.11		353		$	17.00
Granted		—		—			1,165			18.07
Vested		(190	)		0.26	—			—
Forfeited and canceled		—		—			(10	)		18.07
Outstanding and unvested as of March 31, 2024		650		$	7.81		1,508		$	17.83

The restricted stock activity table above excludes 254,896 shares of restricted common stock issued to certain of the Company’s scientific advisors which vest based on the achievement of certain performance conditions to be separately defined and approved by the Company’s board of directors. As the performance conditions had not been determined as of March 31, 2024, the criteria for establishing a grant date, and accordingly a measurement date, were not met as of that date.

Award with Market and Performance Conditions

In June 2021, the Company granted stock options to purchase 446,068 shares of its common stock to one of its executive officers with an exercise price of $2.52 per share that contained both market and service conditions (the Market Award). Subject to the holder’s continued service, the Market Award provided for vesting in four equal tranches once the Company’s stock price exceeded certain thresholds. The original grant-date fair value of the Market Award of $0.9 million was determined using a Monte Carlo simulation model using an expected volatility of 100.0% and risk-free rate of 1.6%.

In January 2022, the Company amended the terms of the Market Award such that the award would vest in three modified tranches. One tranche of 223,034 stock options was based on a performance condition and two tranches of 111,517 stock options each were based on revised Company stock price thresholds and/or vesting schedules, subject to the holder’s continued service. The modification resulting in a performance-based tranche was determined to be a probable-to-improbable modification and the modification resulting in two revised market-based tranches were determined to be probable-to-probable modifications. The modification resulted in $0.3 million in total incremental expense.

In June 2023, the Company amended the terms such that vesting schedule for the two tranches of 111,517 stock options each that were based on the Company stock price thresholds would instead vest monthly over 3 years, subject to the holder’s continued service. The modification of the two market-based tranches were deemed to be probable-to-probable modifications. The modification resulted in $0.1 million in total incremental expense.

The unrecognized original grant-date fair value, together with incremental expense, is recognized as compensation for each tranche over the requisite service period. For the three months ended March 31, 2024 stock-based compensation related to the tranches was $0.1 million, including expense related to the performance-based tranche for which the condition was met upon completion of the Company's IPO. For the three months ended March 31, 2023, stock-based compensation related to the market-based tranches was not material and no expense was recognized for the performance-based tranche as the performance condition was not probable of being met.

Awards with Performance Conditions

In 2020, the Company approved grants of 700,965 stock options and 892,136 shares of restricted common stock to certain of the Company’s scientific advisors, which vest based on the achievement of performance conditions to be determined and continued service to the Company.

As of March 31, 2024, the Company’s board of directors established performance conditions for 401,462 stock options, such that the criteria for establishing a grant date, and accordingly a measurement date, were met for these performance stock options and the remaining 299,503 stock options with performance conditions to be established were cancelled in July 2023 because certain of the Company’s scientific advisors were terminated. Further, as of March 31, 2024, the performance conditions for 382,344 shares of

restricted common stock were established, 254,896 shares of restricted common stock with performance conditions to be established were cancelled in July 2023 because the consulting agreements with certain of the Company’s scientific advisors were terminated, and the performance conditions for the remaining 254,896 shares of restricted common stock have yet to be established.

Stock-Based Compensation

The following table summarizes total stock-based compensation included in the Company’s condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended March 31,
	2024		2023
	(in thousands)
Research and development	$	2,812	$	1,403
General and administrative		4,561		792
Total stock-based compensation	$	7,373	$	2,195

As of March 31, 2024, there was $89.7 million and $28.2 million of unrecognized stock-based compensation related to stock options and restricted stock outstanding, respectively, including stock options and restricted common stock for which achievement of milestones was not probable, which were expected to be recognized over a weighted-average remaining service period of 2.6 years and 3.4 years, respectively.

Strategic License and Research and Collaboration Agreements - Additional Information (Details) £ in Millions	1 Months Ended			3 Months Ended
	Oct. 31, 2023 USD ($)	Feb. 28, 2022 USD ($)	Nov. 30, 2015 USD ($)	Mar. 31, 2024 GBP (£)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Prepaid research and development costs					$ 20,070,000		$ 24,297,000
Research and development expenses					45,757,000	$ 29,485,000
2015 TSRI License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestones achieved					0
Milestone Payments	$ 300,000
Accrued Royalties					$ 0
2015 TSRI License Agreement \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Development and regulatory milestone payments			$ 1,500,000
Commercial milestone payments			$ 3,500,000
Amgen Research and Collaboration Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration agreement termination description				The term of the agreement is up to five years, although it will terminate after three years if the Company and Amgen do not mutually agree upon a compensation structure for years four and five. If the parties do not reach an agreement at least 30 days prior to the end of year three, the Amgen Collaboration Agreement will automatically terminate upon its third anniversary. Further, either party can terminate the Amgen Collaboration Agreement upon material uncured breach or bankruptcy by the other party, in which case all amounts that have become due through the date of termination are non-refundable.	The term of the agreement is up to five years, although it will terminate after three years if the Company and Amgen do not mutually agree upon a compensation structure for years four and five. If the parties do not reach an agreement at least 30 days prior to the end of year three, the Amgen Collaboration Agreement will automatically terminate upon its third anniversary. Further, either party can terminate the Amgen Collaboration Agreement upon material uncured breach or bankruptcy by the other party, in which case all amounts that have become due through the date of termination are non-refundable.
Research and collaboration agreement quarterly payments for first two year					$ 50,000,000
Prepaid research and development costs					9,400,000		$ 6,300,000
Research and development expenses					0	$ 8,100,000
Amgen Research and Collaboration Agreement \| Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and collaboration agreement quarterly payments for third year					$ 12,500,000
Amgen Research and Collaboration Agreement \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Term of the agreement				5 years	5 years
Vanderbilt Research Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and collaboration agreement quarterly payments		$ 1,700,000
Research agreement expiry date				2023-09	2023-09
Parkinson's Research Ventures Funding Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses					$ 0
Funds received upon execution of agreement \| £				£ 0.9
Payments for execution of agreement					$ 1,100,000
Fund eligible to receive upon completion of certain development milestone \| £				1.2
Maximum repayment amount agreed to pay. \| £				8.4
Parkinson's Research Ventures Funding Agreement \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Funds provided for preclinical research and development activities \| £				£ 2.1

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

Stock Option Activity


	Outstanding Stock Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(in thousands, except per share amounts and years)
Outstanding as of December 31, 2023		13,783		$	6.39		8.7	$	146,966
Granted		2,841			17.43
Exercised		(525	)		3.51
Canceled and forfeited		(884	)		5.93
Expired		(85	)		3.37
Outstanding as of March 31, 2024		15,130		$	8.60		8.8	$	90,736
Vested as of March 31, 2024		3,667		$	4.43		7.6	$	34,256
Exercisable as of March 31, 2024		3,659		$	4.44		7.6	$	34,145

Summary of Restricted Stock Activity

The following table summarizes the Company’s restricted stock activity:


	Shares of Restricted Common Stock			Weighted- Average Grant Date Fair Value Per Share		Shares of Restricted Stock Units			Weighted- Average Grant Date Fair Value Per Share
	(in thousands, except per share amounts)
Outstanding and unvested as of December 31, 2023		840		$	6.11		353		$	17.00
Granted		—		—			1,165			18.07
Vested		(190	)		0.26	—			—
Forfeited and canceled		—		—			(10	)		18.07
Outstanding and unvested as of March 31, 2024		650		$	7.81		1,508		$	17.83

Summary of Stock-Based Compensation Expense Recognized

The following table summarizes total stock-based compensation included in the Company’s condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended March 31,
	2024		2023
	(in thousands)
Research and development	$	2,812	$	1,403
General and administrative		4,561		792
Total stock-based compensation	$	7,373	$	2,195

Net Loss Per Share - Summary of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net loss	$ (53,721)	$ (35,625)
Denominator:
Weighted-average common shares outstanding, basic	157,943	29,277
Weighted-average common shares outstanding, diluted	157,943	29,277
Net loss per share, basic	$ (0.34)	$ (1.22)
Net loss per share, diluted	$ (0.34)	$ (1.22)

- Definition

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

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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Stockholders' Equity - Additional Information (Details) - shares	1 Months Ended	3 Months Ended
	Dec. 31, 2023	Mar. 31, 2024	Sep. 20, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized			50,000,000
Preferred stock, issued		0
Preferred stock, outstanding		0
Shares reserved for potential future issuances		37,049,000
Common Stock \| BlackThorn Merger Agreement
Class of Stock [Line Items]
Shares issued upon achievement of milestone	6,072,445
Common Stock \| Service Conditions
Class of Stock [Line Items]
Vesting of restricted stock		447,931
Common Stock \| Performance Conditions
Class of Stock [Line Items]
Vesting of restricted stock		637,240
Additional Shares of Capital Stock
Class of Stock [Line Items]
Shares reserved for potential future issuances		0

Cash Equivalents and Marketable Securities

3 Months Ended

Mar. 31, 2024

Cash Equivalents and Marketable Securities [Abstract]

Cash Equivalents and Marketable Securities

3. Cash Equivalents and Marketable Securities

The following tables summarize the amortized cost and fair value of the Company’s cash equivalents and marketable securities by major investment category for the periods indicated:


	March 31, 2024
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	142,817	$	—	$	—		$	142,817
Total cash equivalents	$	142,817	$	—	$	—		$	142,817
Marketable securities:
Commercial paper	$	69,612	$	1	$	(36	)	$	69,577
Certificates of deposit		11,669		3		(1	)		11,671
U.S. government and agency debt securities		122,660		—		(108	)		122,552
Corporate debt securities		36,297		5		(12	)		36,290
Total marketable securities		240,238		9		(157	)		240,090
Total cash equivalents and marketable securities	$	383,055	$	9	$	(157	)	$	382,907


	December 31, 2023
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	306,801	$	—	$	—		$	306,801
Commercial paper		42,455		6		—			42,461
U.S. government and agency debt securities		12,998		—		(6	)		12,992
Total cash equivalents	$	362,254	$	6	$	(6	)	$	362,254
Marketable securities:
Commercial paper	$	47,534	$	17	$	(4	)	$	47,547
U.S. government and agency debt securities		37,515		—		(91	)		37,424
Corporate debt securities		4,816		3		(1	)		4,818
Total marketable securities		89,865		20		(96	)		89,789
Total cash equivalents and marketable securities	$	452,119	$	26	$	(102	)	$	452,043

The Company’s marketable securities by contractual maturity were (in thousands):


	March 31, 2024
Within one year	$	239,788
After one year through two years		302
Total marketable securities	$	240,090

As of March 31, 2024, the Company has not realized any material gains or losses on its marketable securities, including any impairment charges on its securities related to expected credit losses. As of March 31, 2024, the aggregate difference between the amortized cost and fair value of each security in an unrealized loss position was de minimis. Since any provision for expected credit losses for a security held is limited to the amount the fair value is less than its amortized cost, no allowance for expected credit loss was deemed necessary at March 31, 2024 (see Note 4).

Organization and Liquidity

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Liquidity

1. Organization and Liquidity

Description of Business

Neumora Therapeutics, Inc. (the Company), was originally incorporated in the State of Delaware in November 2019, and is headquartered in Watertown, Massachusetts.

The Company is a clinical-stage biopharmaceutical company founded to confront the global brain disease crisis by taking a fundamentally different approach to the way treatments for brain diseases are developed. The Company’s therapeutic pipeline currently consists of seven clinical and preclinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases.

As of March 31, 2024, the Company has devoted a significant portion of its financial resources and efforts to building its organization, acquiring technologies and companies, executing clinical and preclinical studies, conducting research and development, identifying and developing potential product candidates, building its precision neuroscience tools, organizing and staffing the Company, business planning, establishing, maintaining and protecting its intellectual property portfolio, raising capital and providing general and administrative support for these operations. The Company has not generated revenue from the sale of products.

The Company’s most advanced product candidate, navacaprant (NMRA-140), is a novel once-daily oral kappa opioid receptor (KOR) antagonist that is being developed for the treatment of major depressive disorder (MDD) and other neuropsychiatric diseases. In 2023, the Company initiated a Phase 3 program called the KOASTAL program evaluating navacaprant monotherapy in patients with moderate to severe MDD. The Company anticipates releasing topline results from the KOASTAL-1 study in the fourth quarter of 2024 and topline results from the KOASTAL-2 and KOASTAL-3 studies in the first half of 2025. We also expect to initiate a Phase 2 study for navacaprant in bipolar depression in the second quarter of 2024 and anticipate releasing results from that study in 2025.

Reverse Stock Split

On September 8, 2023, the Company’s board of directors approved an amended and restated certificate of incorporation to effect a reverse split of shares of the Company’s common stock and convertible preferred stock on a 7.8463-for-1 basis (the “Reverse Stock Split”). The par value and authorized shares of the common stock and convertible preferred stock were not adjusted as a result of the Reverse Stock Split. All share data and per share data amounts for all periods presented in the condensed consolidated financial statements and notes thereto have been retrospectively adjusted to reflect the effect of the Reverse Stock Split.

Initial Public Offering

On September 19, 2023, the Company completed its initial public offering (IPO), pursuant to which it issued and sold an aggregate of 14,710,000 shares of its common stock at a price to the public of $17.00 per share, resulting in net proceeds of $226.5 million, after deducting underwriting discounts and commissions of $17.5 million and other offering expenses of $6.0 million. Upon the closing of the IPO, the Company’s outstanding convertible preferred stock automatically converted into 104,417,415 shares of common stock (see Note 9).

In connection with the completion of its IPO, on September 19, 2023, the Company’s certificate of incorporation was amended and restated to authorize 700,000,000 shares of common stock, par value $0.0001 per share and 50,000,000 shares of preferred stock, par value of $0.0001 per share.

Liquidity

The Company has incurred net losses and negative cash flows from operations since inception and as of March 31, 2024, had an accumulated deficit of $757.2 million. As of March 31, 2024, the Company had cash, cash equivalents and marketable securities of $423.0 million, which are available to fund future operations. The Company believes that its existing cash, cash equivalents and marketable securities as of March 31, 2024 will be sufficient to support operations for at least the next 12 months from the date these condensed consolidated financial statements are issued.

The Company expects to incur additional losses in the future as it continues its research and development efforts, advances its product candidates through preclinical and clinical development, enhances its precision neuroscience approach and programs, expands its product pipeline, seeks regulatory approval, prepares for commercialization, as well as hires additional personnel, protects its intellectual property and grows its business. The Company will need to raise additional capital to support its continuing operations and pursue its long-term business plan, including to complete the development and commercialization of its product candidates, if approved. Such activities are subject to significant risks and uncertainties, including clinical failure which can impact the Company’s ability to secure additional funding. The Company expects to finance its cash needs through a combination of public or private equity offerings or debt financings or other capital sources, which may include strategic collaborations or other arrangements with third parties, or other sources of financing. However, there is no guarantee that any of these financing or opportunities will be executed or realized on favorable terms, if at all, and some could be dilutive to existing stockholders.

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net Loss Per Share

The following table summarizes the computation of basic and diluted net loss per share:


	Three Months Ended March 31,
	2024			2023
	(in thousands, except per share amounts)
Numerator:
Net loss	$	(53,721	)	$	(35,625	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		157,943			29,277
Net loss per share, basic and diluted	$	(0.34	)	$	(1.22	)

Summary of Outstanding Potentially Dilutive Common Stock Equivalents were Excluded from Computation of Diluted Net Loss Per Share

The following outstanding potentially dilutive common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:


	March 31,
	2024		2023
	(in thousands)
Convertible preferred stock		—		104,417
Common stock options and restricted stock units		17,084		9,777
Performance stock options (with performance conditions to be established)		—		300
Early exercised stock options subject to future vesting		55		116
Unvested restricted stock awards		650		2,314
Performance restricted stock (with performance conditions to be established)		255		510
Total		18,044		117,434

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net loss	$ (53,721)	$ (35,625)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	7,373	2,195
Non-cash operating lease expense	791	799
Depreciation and amortization	158	158
Net accretion of investments in marketable securities	(1,147)	(892)
Other noncash expenses		15
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	7,351	7,858
Accounts payable	1,155	(6,012)
Accrued liabilities	(4,113)	(736)
Operating lease liabilities	(802)	(801)
Net cash used in operating activities	(42,955)	(33,041)
Investing activities:
Purchases of marketable securities	(185,804)	(41,483)
Proceeds from sales and maturities of marketable securities	36,578	44,336
Purchases of property and equipment		(36)
Cash paid for acquisition of assets	(775)
Net cash (used in) provided by investing activities	(150,001)	2,817
Financing activities:
Proceeds from exercise of stock options	1,845	602
Repurchase of unvested early exercised shares		(491)
Payments for deferred offering costs		(10)
Net cash provided by financing activities	1,845	101
Net change in cash and cash equivalents and restricted cash	(191,111)	(30,123)
Cash and cash equivalents and restricted cash at beginning of year	375,251	242,206
Cash and cash equivalents and restricted cash at end of year	184,140	212,083
Components of cash and restricted cash:
Cash and cash equivalents	182,927	210,870
Restricted Cash	1,213	1,213
Total cash and cash equivalents and restricted cash	$ 184,140	$ 212,083

Net Loss Per Share - Summary of Outstanding Potentially Dilutive Common Stock Equivalents were Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	18,044	117,434
Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	0	104,417
Common Stock Options and Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	17,084	9,777
Performance Stock Options (With Performance Conditions to Be Established)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	0	300
Early Exercised Stock Options Subject to Future Vesting
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	55	116
Unvested Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	650	2,314
Performance Restricted Stock (With Performance Conditions to Be Established)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	255	510

Acquisitions of Assets

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Acquisitions of Assets

6. Acquisitions of Assets

BlackThorn Therapeutics, Inc.

In June 2020, the Company entered into an agreement and plan of merger (BlackThorn Merger Agreement) to acquire all of the equity interests of BlackThorn Therapeutics, Inc. (BlackThorn), which became effective in September 2020. The Company acquired BlackThorn for its in-process research and development programs, including an antagonist of the kappa opioid veceptor (navacaprant (NMRA-140)) for the treatment of major depressive disorders and an antagonist of the vasopressin 1a veceptor (NMRA-511) for the treatment of agitation in Alzheimer's disease. The Company also gained access to a cloud-based computational psychiatry and data platform that was being developed to support drug target identification, patient stratification and objective clinical trial endpoints. Both navacaprant and NMRA-511 were exclusively licensed to BlackThorn by The Scripps Research Institute (TSRI). The acquisition was accounted for as an acquisition of assets.

The BlackThorn Merger Agreement requires the Company to pay the former stockholders of BlackThorn contingent consideration (i) with respect to navacaprant, in the form of development and regulatory approval milestones of up to an aggregate amount of $365.0 million, which includes a milestone payment that became due in October 2023 upon dosing the first patient in the Phase 3 clinical trial for navacaprant, and sales-based milestones of up to an aggregate amount of $450.0 million and (ii) with respect to NMRA-511, in the form of development and regulatory approval milestones of up to an aggregate amount of $100.0 million, and sales-based milestones of up to an aggregate amount of $100.0 million (BlackThorn Milestones). At the Company’s sole discretion, the BlackThorn Milestone payments may be settled in cash or shares of the Company, or a combination of both, subject to the provisions of the BlackThorn Merger Agreement, other than one development milestone in the amount of $10.0 million, which must be settled in cash. None of the BlackThorn Milestones were subject to liability classification and/or derivative accounting and any such contingent consideration will be recognized when the contingency is resolved, and the consideration becomes payable. The Company settled the Phase 3 navacaprant dosing milestone in December 2023 by issuing 6,072,445 shares of its common stock based on the volume weighted average price per share prior to the date the milestone was met and paying cash of $2.3 million to the former stockholders of BlackThorn and participants in the carveout plan (discussed below). As a result, the Company recognized $60.8 million in acquired in-process research and developed expenses in the fourth quarter of 2023 related to the BlackThorn Milestones. None of the other Blackthorn Milestones have been achieved and no such amounts were deemed due or payable as of March 31, 2024.

BlackThorn Carveout Plan

The BlackThorn Merger Agreement required that the Company establish a carveout plan (the BlackThorn Carveout Plan), pursuant to which each BlackThorn stock option holder as of immediately prior to the closing date was allocated a certain number of units (the BlackThorn Carveout Units) based on the number of shares underlying the outstanding options held by each participant at that time. Each BlackThorn Carveout Unit represents a right to receive a portion of the BlackThorn Milestone payment (the BlackThorn Carveout Payments) upon the later of (i) the achievement of a BlackThorn Milestone and (ii) the vesting of the BlackThorn Carveout Unit.

The BlackThorn Carveout Units vest based on time-based schedules that mirror the vesting schedules for the original option awards held by each participant. As of the closing date in September 2020, a portion of the BlackThorn Carveout Units corresponding to the pre-acquisition service periods were fully vested (Vested Carveout Units). The remainder of the BlackThorn Carveout Units vest subject to the continued service of the participants.

The Vested Carveout Units represent contingent consideration for the acquisition as they are attributable to pre-acquisition services rendered by the participants and continuing service is not required for the participants to receive future payments upon a BlackThorn Milestone being achieved. The Company recognizes the contingent consideration obligation for the Vested Carveout Units when the contingency is resolved, and the consideration becomes payable. The BlackThorn Carveout Units that were unvested as of the closing date are dependent on the continued service of participants and were deemed to be a compensation arrangement. The Company recognizes compensation starting from the time payment becomes probable over each participant’s service period.

The Company settled the Phase 3 navacaprant dosing milestone in December 2023. The Company recognized contingent consideration related to Vested Carveout Units, which was included in acquired in-process research and developed expenses in the fourth quarter of 2023 related to the BlackThorn Milestones as described above. In addition, the Company recognized and paid $1.8 million in compensation related to the BlackThorn Carveout Units that were a compensatory arrangement in 2023. None of the other BlackThorn Milestones had been achieved and no such amounts were deemed due or payable as of March 31, 2024.

Syllable Life Sciences, Inc.

In September 2020, the Company entered into an agreement and plan of merger (Syllable Merger Agreement) to acquire all of the outstanding equity of Syllable Life Sciences, Inc. (Syllable). The Company acquired Syllable to gain access the rights granted to Syllable under an exclusive license agreement (as amended, the Harvard License Agreement) with President and Fellows of Harvard College (Harvard) and an associated behavior analysis machine learning and computer vision software tool which Syllable was developing to identify and quantify behavior as an indicator of neurological conditions. The transaction was accounted for as an acquisition of assets.

The former stockholders of Syllable are entitled to contingent consideration in the form of development milestones of up to an aggregate of $5.0 million (Syllable Milestones). At the Company’s sole discretion, the Syllable Milestone payments may be settled, in cash or shares equity of the Company, or a combination of both, subject to the provisions of the Syllable Merger Agreement and were not subject to liability classification and/or derivative accounting. Any such contingent consideration will be recognized when the contingency is resolved, and the consideration becomes payable. As of March 31, 2024, none of the Syllable Milestones had been achieved and no such amounts were deemed due or payable.

Alairion, Inc.

In November 2020, the Company entered into an agreement and plan of merger (Alairion Merger Agreement) to acquire all of the outstanding equity of Alairion, Inc. (Alairion). The acquisition of Alairion allowed the Company to expand its program pipeline by gaining rights to two preclinical stage research and development programs focused on the treatment of sleep disorders, an H1 receptor antagonist program (the H1 Program) and a GABA receptor positive allosteric modulator program (the GABA Program). The acquisition also provided the Company with access to a license for software that records sleep and related drug discovery and optimization technology platform. The transaction was accounted for as an acquisition of assets.

The holders of Alairion common stock outstanding as of immediately prior to the closing date received non-transferable rights to future milestone payments of up to $33.5 million upon the achievement of specified development events and $135.0 million upon the achievement of specified commercialization events related to the H1 Program and the GABA Program (the Alairion Milestones).

The Alairion Milestone payments may be settled, at the Company’s sole discretion, in cash or shares of the Company, or a combination of both, subject to the provisions of the Alairion Merger Agreement. None of the Alairion Milestones were subject to liability classification and/or derivative accounting and any such contingent consideration will be recognized when the contingency is resolved, and the consideration becomes payable. As of March 31, 2024, none of the Alairion Milestones have been recognized. In March 2022, the Company paused the active program acquired from Alairion while it assesses pre-IND feedback received from the FDA and continues to consider alternative options for that program.

Amgen Inc. Licenses

In September 2021, the Company entered into two license agreements with Amgen Inc. (Amgen) pursuant to which it obtained exclusive, worldwide licenses to develop, manufacture, use, commercialize and distribute products containing compounds that are directed to, in one case, CK1δ, and in the other case, glucocerebrosidase (GCase), both for the treatment of neurodegenerative diseases (the Amgen License Agreements) and related know-how and clinical material (collectively, the Amgen IPR&D Assets). The Company accounted for these transactions as acquisitions of assets. Concurrently, the Company also executed a research collaboration agreement as well as a stock purchase agreement with Amgen. Both agreements were deemed to be separate transactions and not accounted for as part of the acquisition of assets.

The total upfront consideration transferred to Amgen of 20.0 million shares of the Company's Series A-2 convertible preferred stock, with an acquisition date fair value of $157.0 million was allocated to the Amgen IPR&D Assets and expensed in 2021.

Under these two license agreements, Amgen is eligible to receive contingent consideration up to an aggregate of $360.0 million in commercial milestone payments per product payable in cash with a compound directed to CK1δ and up to an aggregate of $360.0 million in commercial milestone payments per product payable in cash with a compound directed to GCase, in each case, upon the achievement of certain sales thresholds and single digit royalties on potential future net sales, related to CK1δ or GCase (the Amgen Milestones). Such contingent consideration was not subject to liability classification and/or derivative accounting and will be recognized when the contingency is resolved, and the consideration becomes payable. As of March 31, 2024, none of the Amgen Milestones had been achieved and no such amounts were deemed due or payable.

In addition, until a specified period of time following the achievement of the first successful Phase 2 clinical trial for any licensed product, if the Company chooses to sell, transfer, sublicense or divest rights to a licensed product in certain major markets, Amgen has a period of time to enter into an agreement with the Company for such rights. The Company determined that these rights of first negotiation were not freestanding instruments from the Amgen License Agreements and did not meet the definition of a derivative.

Vanderbilt License

In February 2022, the Company and Vanderbilt University (Vanderbilt) entered into a license agreement (Vanderbilt License Agreement). Pursuant to the Vanderbilt License Agreement, as amended, the Company obtained an exclusive, worldwide royalty-bearing, sublicensable (subject to certain restrictions) license under certain patent rights and a non-exclusive, worldwide, royalty-bearing, sublicensable (subject to certain restrictions) license under certain know-how covering small molecule positive allosteric modulators (PAMs) predominantly of the muscarinic acetylcholine receptor subtype 4 (M4) to develop, manufacture, and commercialize products, processes and services covered by such patent rights or that incorporate or use such know-how, for any and uses (the Vanderbilt IPR&D Assets). Concurrently, the Company also executed a sponsored research agreement (see Note 8) with Vanderbilt. The sponsored research agreement was deemed to be a separate transaction and not accounted for as part of the acquisition of assets. The acquisition of Vanderbilt IPR&D Assets became effective in February 2022.

The licensed patent rights are subject to Vanderbilt’s right to use the patent rights for research, internal non-commercial use, and educational purposes. The Company intends to develop the PAMs for the treatment of schizophrenia and other neuropsychiatric disorders. The Company has agreed to use commercially reasonable efforts to develop and commercialize licensed products, and to achieve certain development milestones.

The Company paid Vanderbilt a non-refundable, non-creditable upfront cash payment of $13.0 million for the Vanderbilt IPR&D Assets, which was immediately recognized as acquired in-process research and development expense in the condensed consolidated statement of operations and comprehensive loss as it was determined to have no alternative future use as of the acquisition date. Under the Vanderbilt License Agreement, Vanderbilt is eligible to receive contingent consideration payable in cash up to an aggregate of $42.4 million upon the achievement of specified development milestones and up to an aggregate of $380.0 million upon the achievement of commercial milestone events as well as tiered royalties at mid-single digit percentages on potential future net sales, subject to specified reductions for the lack of patent coverage, generic entry and payment obligations for third-party licenses (the Vanderbilt Milestones). In addition, the Company is obligated to pay Vanderbilt low-double-digit percentage of sublicense income it receives for sublicenses entered into before the achievement of a specified event. Such contingent consideration was not subject to liability classification and/or derivative accounting and will be recognized when the contingency is resolved, and the consideration becomes payable. In October 2023, a $2.0 million Vanderbilt Milestone was achieved and settled in cash in November 2023 and was recognized in acquired in-process research and developed expenses in the fourth quarter of 2023. None of the other Vanderbilt Milestones had been achieved and no such amounts were deemed due or payable as of March 31, 2024.

In addition, the Company also had an exclusive option, exercisable for a specified period of time, to negotiate an exclusive license to certain patent rights conceived or developed by Vanderbilt in the course of carrying out the sponsored research pursuant to a sponsored research agreement the between the Company and Vanderbilt, which was entered into at the same time as the Vanderbilt License Agreement. The Company determined that the right to negotiate was not a freestanding instrument from the Vanderbilt License Agreement and did not meet the definition of a derivative. The Company exercised the above disclosed exclusive option and the parties executed an agreement in December 2023 pursuant to which the Company licensed certain patent rights in return for a payment of $0.8 million that was recognized in acquired in-process research and developed expenses in the fourth quarter of 2023.

Net Loss Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Loss Per Share

11. Net Loss Per Share

The following table summarizes the computation of basic and diluted net loss per share:


	Three Months Ended March 31,
	2024			2023
	(in thousands, except per share amounts)
Numerator:
Net loss	$	(53,721	)	$	(35,625	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		157,943			29,277
Net loss per share, basic and diluted	$	(0.34	)	$	(1.22	)


	March 31,
	2024		2023
	(in thousands)
Convertible preferred stock		—		104,417
Common stock options and restricted stock units		17,084		9,777
Performance stock options (with performance conditions to be established)		—		300
Early exercised stock options subject to future vesting		55		116
Unvested restricted stock awards		650		2,314
Performance restricted stock (with performance conditions to be established)		255		510
Total		18,044		117,434

Cash Equivalents and Marketable Securities - Summary of Marketable Securities by Contractual Maturity (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Available-for-Sale Securities, Debt Maturities [Abstract]
Within one year	$ 239,788
After one year through two years	302
Total marketable securities	$ 240,090

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	March 31,		December 31,
	2024		2023
	(in thousands)
Prepaid research and development costs ($9.4 million and $6.3 million from related party in 2024 and 2023, respectively)	$	14,603	$	19,085
Prepaid other		4,561		4,273
Other receivables		906		939
Total prepaid expenses and other current assets	$	20,070	$	24,297

Schedule of Accrued Liabilities

Accrued Liabilities

Accrued liabilities consisted of the following:


	March 31,		December 31,
	2024		2023
	(in thousands)
Compensation and benefits	$	4,660	$	10,011
Accrued research and development services ($6.3 million and $3.1 million due to related party in 2024 and 2023, respectively)		7,442		5,004
Professional services		926		787
Accrued clinical trial and preclinical costs		5,923		4,705
Other		542		750
Total accrued liabilities	$	19,493	$	21,257

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Preferred stock, issued	0
Prepaid research and development costs	$ 20,070		$ 24,297
Research and development expenses	45,757	$ 29,485
Amgen Research and Collaboration Agreement
Related Party Transaction [Line Items]
Related party transaction obligation with related party	6,300		3,100
Prepaid research and development costs	9,400		$ 6,300
Research and development expenses	$ 0	$ 8,100

Related Party Transactions

3 Months Ended

Mar. 31, 2024

Related Party Transactions

12. Related Party Transactions

As of March 31, 2024 and December 31, 2023, the Company was obligated to pay Amgen $6.3 million and $3.1 million, respectively, under the Amgen Collaboration Agreement, which was recorded within current liabilities on the condensed consolidated balance sheets. As of March 31, 2024 and December 31, 2023, $9.4 million and $6.3 million, related to amounts prepayable to Amgen were recorded as prepaid expenses and other current assets on the condensed consolidated balance sheets. During the three months ended March 31, 2024 and 2023, the Company recorded nil and $8.1 million, respectively, of research and development expenses with Amgen.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Acquisitions of Assets - Additional Information (Details)	1 Months Ended							3 Months Ended		12 Months Ended
	Dec. 31, 2023 USD ($) shares	Nov. 30, 2023 USD ($)	Feb. 28, 2022 USD ($)	Sep. 30, 2021 USD ($) Agreements shares	Nov. 30, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2024 USD ($) Milestones	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Amgen Inc.
Business Acquisition [Line Items]
Number of license agreements \| Agreements				2
Vanderbilt IPR&D Assets
Business Acquisition [Line Items]
Contingent consideration deemed due or payable								$ 0
BlackThorn Merger Agreement
Business Acquisition [Line Items]
Contingent consideration, milestone payment settled in cash							$ 10,000,000
Number of milestone achieved \| Milestones								0
BlackThorn Merger Agreement \| BlackThorn Therapeutics, Inc.
Business Acquisition [Line Items]
Contingent consideration deemed due or payable								$ 0
Contingent consideration payable in cash	$ 2,300,000
Acquired in-process research and developed expense									$ 60,800,000
BlackThorn Merger Agreement \| BlackThorn Therapeutics, Inc. \| Common Stock
Business Acquisition [Line Items]
Shares issued based on volume weighted average price per share prior to date milestone was met \| shares	6,072,445
BlackThorn Merger Agreement \| navacaprant
Business Acquisition [Line Items]
Milestone payment due description								milestone payment that became due in October 2023 upon dosing the first patient in the Phase 3 clinical trial for navacaprant,
BlackThorn Merger Agreement \| navacaprant \| Maximum \| Development and Regulatory Approval Milestones
Business Acquisition [Line Items]
Contingent consideration							365,000,000
BlackThorn Merger Agreement \| navacaprant \| Maximum \| Sales-based Milestones
Business Acquisition [Line Items]
Contingent consideration							450,000,000
BlackThorn Merger Agreement \| NMRA-511 \| Maximum \| Development and Regulatory Approval Milestones
Business Acquisition [Line Items]
Contingent consideration							100,000,000
BlackThorn Merger Agreement \| NMRA-511 \| Maximum \| Sales-based Milestones
Business Acquisition [Line Items]
Contingent consideration							$ 100,000,000
BlackThorn Carveout Plan
Business Acquisition [Line Items]
Number of milestone achieved \| Milestones								0
Contingent consideration deemed due or payable								$ 0
Asset acquisition compensation recognized and paid										$ 1,800,000
Syllable Merger Agreement \| Syllable Life Sciences, Inc
Business Acquisition [Line Items]
Number of milestone achieved \| Milestones								0
Contingent consideration deemed due or payable								$ 0
Syllable Merger Agreement \| Syllable Life Sciences, Inc \| Maximum \| Development Milestones
Business Acquisition [Line Items]
Contingent consideration						$ 5,000,000
Alairion Merger Agreement \| Alairion, Inc
Business Acquisition [Line Items]
Number of milestone achieved \| Milestones								0
Alairion Merger Agreement \| Alairion, Inc \| Achievement of Specified Commercialization Events
Business Acquisition [Line Items]
Contingent consideration, milestone payment					$ 135,000,000
Alairion Merger Agreement \| Alairion, Inc \| Maximum \| Achievement of Specified Development Events
Business Acquisition [Line Items]
Contingent consideration, milestone payment					$ 33,500,000
Amgen Inc. Licenses \| Amgen Inc.
Business Acquisition [Line Items]
Number of milestone achieved \| Milestones								0
Contingent consideration deemed due or payable								$ 0
Amgen Inc. Licenses \| Amgen Inc. \| Series A-2
Business Acquisition [Line Items]
Upfront consideration transferred shares \| shares				20,000,000
Acquisition date fair value of shares transferred				$ 157,000,000
Amgen Inc. Licenses \| Amgen Inc. \| Maximum \| Case One
Business Acquisition [Line Items]
Contingent consideration payable in cash				360,000,000
Amgen Inc. Licenses \| Amgen Inc. \| Maximum \| Commercial Milestone Payment \| Case Two
Business Acquisition [Line Items]
Contingent consideration payable in cash				$ 360,000,000
Vanderbilt License
Business Acquisition [Line Items]
Contingent consideration, milestone payment settled in cash		$ 2,000,000
Number of milestone achieved \| Milestones								0
Acquired in-process research and development									$ 800,000
Vanderbilt License \| Maximum \| Achievement of Specified Development Events
Business Acquisition [Line Items]
Contingent consideration payable in cash			$ 42,400,000
Vanderbilt License \| Maximum \| Achievement of Specified Commercialization Events
Business Acquisition [Line Items]
Contingent consideration payable in cash			380,000,000
Vanderbilt License \| Vanderbilt IPR&D Assets
Business Acquisition [Line Items]
Upfront cash payment			$ 13,000,000

Strategic License and Research and Collaboration Agreements

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Strategic License and Research and Collaboration Agreements

8. Strategic License and Research and Collaboration Agreements

2015 TSRI License Agreement

In connection with the acquisition of BlackThorn (see Note 6), the Company gained certain exclusive rights to intellectual property related to Kappa Opioid Receptor and V1aR Receptor Antagonist programs as well as an oxytocin receptors positive allosteric modulator program (collectively, the TSRI Programs) under a license agreement between BlackThorn and TSRI originally entered into in November 2015 (as amended, the 2015 TSRI License Agreement). The technology licensed under the 2015 TSRI License Agreement is used in the Company’s navacaprant and NMRA-511 research and development programs.

Pursuant to the 2015 TSRI License Agreement, the Company is obligated, among other things, to pay TSRI (i) a nominal annual license fee due and payable on the first day of each calendar year and after the fourth anniversary creditable against any royalties due for such calendar year, (ii) development and regulatory milestone payments of up to $1.5 million in aggregate for the first product from each TSRI Program, which are contingent upon achieving specific development and regulatory milestone events, (iii) commercial milestone payments of up to $3.5 million in aggregate for each occurrence, which are contingent upon achieving specified commercialization milestone events, (iv) tiered low-single digit royalties on future net sales of each royalty-bearing product and (v) a percentage ranging from the mid-single digits to sub teen double digits of any sublicensing revenues the Company receives. In October 2023, the Phase 3 navacaprant dosing milestone was met and the Company paid $0.3 million to TSRI, which was recognized in acquired in-process research and developed expenses in the fourth quarter of 2023. None of the other milestones have been achieved and no royalties were due under the 2015 TSRI License Agreement as of March 31, 2024.

Research and Collaboration Agreement with Amgen

In September 2021, and concurrently with the Amgen License Agreements (see Note 6), the Company entered into a research collaboration agreement with Amgen (Amgen Collaboration Agreement) to collectively discover drug targets, biomarkers, and other insights associated with central nervous system (CNS) diseases utilizing Amgen’s deCODE genetics and human data research capabilities. The Company received exclusive rights under intellectual property generated in the collaboration to exploit therapeutic compounds and diagnostics for use with therapeutics in the CNS field and Amgen received exclusive rights to exploit therapeutic

compounds and diagnostics for use with therapeutics outside of the CNS field. The agreement is governed by the Joint Research Committee (JRC), which is made up of equal representatives from each of the Company and Amgen to manage the progress and direction of research and development activities. All decisions made by the JRC shall be by consensus with each party having one vote, and if the JRC cannot reach a consensus, the dispute shall be referred to each company’s executive officers. If the executive officers fail to reach a consensus, the Company will have final decision-making authority provided that the matter does not relate to the approval of, or any material change to, a project, decisions to acquire rights from a third party, decisions or activities that are in conflict with Amgen’s database usage or data access rights, or the approval of external costs and expenses relating to certain new data generation activities or certain new dataset acquisitions, as such matters require mutual agreement.

In return for Amgen performing research and development activities under the agreement, the Company is committed to making non-refundable, non-creditable quarterly payments over the first two years totaling $50.0 million and for the third year $12.5 million. Additionally, the Company will reimburse Amgen for certain direct, out-of-pocket external costs and expenses that are incurred in the performance of the activities under the Amgen Collaboration Agreement.

The term of the agreement is up to five years, although it will terminate after three years if the Company and Amgen do not mutually agree upon a compensation structure for years four and five. If the parties do not reach an agreement at least 30 days prior to the end of year three, the Amgen Collaboration Agreement will automatically terminate upon its third anniversary. Further, either party can terminate the Amgen Collaboration Agreement upon material uncured breach or bankruptcy by the other party, in which case all amounts that have become due through the date of termination are non-refundable.

Amgen also has an exclusive option to negotiate, and the right of first negotiation, to obtain exclusive, worldwide licenses to research, develop, commercialize, and otherwise exploit up to two therapeutic compounds or any pharmaceutical product containing such therapeutic compound arising from the collaboration. That right exists with respect to each compound for a certain period of time following positive Phase 2 results for that compound. The Company determined that these rights were not freestanding instruments from the Amgen Collaboration Agreement and did not meet the definition of a derivative. Upon execution of the Amgen Collaboration Agreement in September 2021, the Company was obligated to start paying Amgen non-refundable quarterly payments. As of March 31, 2024 and December 31, 2023, the related prepaid research and development costs included in the condensed consolidated balance sheets were $9.4 million and $6.3 million, respectively, within prepaid expenses and other current assets. No research and development expense was incurred during the three months ended March 31, 2024. The Company recorded $8.1 million of related research and development expenses during the three months ended March 31, 2023.

Sponsored Research Agreement with Vanderbilt

In February 2022, concurrently with the Vanderbilt License Agreement (see Note 6), the Company entered into a sponsored research agreement with Vanderbilt (Vanderbilt Research Agreement), pursuant to which Vanderbilt agreed to provide the Company research services to develop a M4 PAM back-up program.

In return for Vanderbilt performing research and development activities under the agreement, the Company agreed to make quarterly payments for research up to a total of $1.7 million on an annual basis. The term of the agreement ended in September 2023. In addition, the Company also had an exclusive option to negotiate an exclusive license to certain patent rights conceived or developed by Vanderbilt in the course of carrying out the sponsored research (see Note 6).

Parkinson's Research Ventures Funding Agreement

In March 2024, the Company entered into a research funding agreement with Parkinson's Research Ventures Limited (PRV), pursuant to which PRV agreed to provide the Company funding up to a total of £2.1 million in two tranches to carry out preclinical research and development activities related to the Company’s NLPR3 program.

The first tranche of £0.9 million was due upon execution of the agreement and was received in March 2024, for $1.1 million. The Company is eligible to receive the second tranche of £1.2 million upon the completion of certain development milestones. The Company concluded the funding arrangement was an obligation to perform services and the funding received is recognized as a contra-R&D expense as project costs are incurred. No costs were incurred during the three months ended March 31, 2024. Upon achievement of certain development, regulatory or commercial trigger events, the Company agreed to pay PRV in aggregate an amount equal to no more than four times the funding provided by PRV i.e., a maximum repayment amount of up to £8.4 million. The trigger event payments meet the derivative scope exception under Accounting Standards Codification (ASC) 815 Derivatives and Hedging, and therefore do not need to be bifurcated and separately accounted for.

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Entity Central Index Key	0001885522
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Period End Date	Mar. 31, 2024
Entity Registrant Name	NEUMORA THERAPEUTICS, INC.
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Securities Act File Number	001-41802
Entity Tax Identification Number	84-4367680
Entity Address, Address Line One	490 Arsenal Way
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Watertown
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02472
City Area Code	857
Local Phone Number	760-0900
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	NMRA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		159,523,997

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 382,907	$ 452,043
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	257,879	326,274
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	125,028	125,769
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	142,817	306,801
Money Market Funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	142,817	306,801
Money Market Funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Money Market Funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
U.S Government and Agency Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	122,552	50,416
U.S Government and Agency Debt Securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	115,062	19,473
U.S Government and Agency Debt Securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	7,490	30,943
U.S Government and Agency Debt Securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	36,290	4,818
Corporate Debt Securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Corporate Debt Securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	36,290	4,818
Corporate Debt Securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	11,671
Certificates of Deposit \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0
Certificates of Deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	11,671
Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	69,577	90,008
Commercial Paper \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Commercial Paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	69,577	90,008
Commercial Paper \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 0	$ 0