0000950170-24-091828 | 10-Q | XBRL Viewer

Organization	6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Description of business Aligos Therapeutics, Inc. (Aligos-US) was incorporated in the state of Delaware on February 5, 2018 (inception). On September 10, 2018, the Company formed Aligos Belgium BVBA (Aligos-Belgium), a limited liability company organized under the laws of Belgium. On March 30, 2020, the Company formed as a wholly owned subsidiary, Aligos Australia Pty LTD (Aligos-Australia), a proprietary limited company. On May 18, 2021, the Company formed as a wholly owned subsidiary, Aligos Therapeutics (Shanghai) Co. Ltd. (Aligos-Shanghai) and together with Aligos-US, Aligos-Belgium, and Aligos-Australia being the “Company” or “Aligos”. Aligos is a clinical-stage biopharmaceutical company developing novel therapeutics to address unmet medical needs in viral and liver diseases, including for metabolic dysfunction associated steatohepatitis (MASH), chronic hepatitis B (CHB) and coronaviruses. The Company is devoting substantially all of its efforts to the research and development of its drug candidates. The Company has not generated any product revenue to date. The Company is also subject to a number of risks similar to other companies in the biotechnology industry, including the uncertainty of success of its nonclinical studies and clinical trials, regulatory approval of drug candidates, uncertainty of market acceptance of products, competition from substitute products and larger companies, the need to obtain additional financing, compliance with government regulations, protection of proprietary technology, dependence on third-parties, product liability, and dependence on key individuals. Liquidity The Company has incurred losses and negative cash flows from operations in each fiscal year since its inception. As of June 30, 2024 and December 31, 2023, the Company had an accumulated deficit of $516.6 million and $486.8 million, respectively. Management expects to continue to incur additional substantial losses in future fiscal years in the foreseeable future as a result of its research and development activities. As of June 30, 2024, the Company has unrestricted cash, cash equivalents and investments of approximately $94.5 million which is available to fund future operations. The Company expects to continue to spend substantial amounts to continue the nonclinical and clinical development of its current and future programs. If the Company is able to gain marketing approval for drug candidates that are being developed, it will require significant additional amounts of cash in order to launch and commercialize such drug candidates. In addition, other unanticipated costs may arise. Because the design and outcome of the Company’s planned and anticipated clinical trials is highly uncertain, the Company cannot reasonably estimate the actual amounts necessary to successfully complete the development and commercialization of any drug candidate the Company may develop. The Company expects to finance its cash needs through a combination of public or private equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and/or other marketing or distribution arrangements. In addition, the Company may seek additional capital to take advantage of favorable market conditions or strategic opportunities even if the Company believes it has sufficient funds for its current or future operating plans. Based on the Company’s research and development plans, the Company expects its existing unrestricted cash, cash equivalents and investments, will enable it to fund its operations for at least 12 months following the date the condensed consolidated financial statements are issued. However, the Company’s operating plan may change as a result of many factors currently unknown, and the Company may need to seek additional funds sooner than planned. Moreover, it is particularly difficult to estimate with certainty the Company’s future expenses given the dynamic nature of its business and the macro-economic environment generally. The Company’s ability to raise additional funds depends on financial, economic and other factors, many of which are beyond its control. For example, if there is a disruption of global financial markets, the Company could be unable to access additional capital, which could negatively affect its ability to consummate certain corporate development transactions or other important, beneficial or opportunistic investments. If additional funds are not available to the Company when needed, on terms that are acceptable to the Company, or at all, the Company may be required to: delay, limit, reduce or terminate nonclinical studies, clinical trials or other research and development activities or eliminate one or more of its development programs altogether; or delay, limit, reduce or terminate its efforts to establish manufacturing and sales and marketing capabilities or other activities that may be necessary to commercialize any future approved products, or reduce the Company’s flexibility in developing or maintaining its sales and marketing strategy. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company has always maintained a dual banking system to limit its credit and liquidity risk.

Organization

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of business

Aligos Therapeutics, Inc. (Aligos-US) was incorporated in the state of Delaware on February 5, 2018 (inception). On September 10, 2018, the Company formed Aligos Belgium BVBA (Aligos-Belgium), a limited liability company organized under the laws of Belgium. On March 30, 2020, the Company formed as a wholly owned subsidiary, Aligos Australia Pty LTD (Aligos-Australia), a proprietary limited company. On May 18, 2021, the Company formed as a wholly owned subsidiary, Aligos Therapeutics (Shanghai) Co. Ltd. (Aligos-Shanghai) and together with Aligos-US, Aligos-Belgium, and Aligos-Australia being the “Company” or “Aligos”.

Aligos is a clinical-stage biopharmaceutical company developing novel therapeutics to address unmet medical needs in viral and liver diseases, including for metabolic dysfunction associated steatohepatitis (MASH), chronic hepatitis B (CHB) and coronaviruses.

The Company is devoting substantially all of its efforts to the research and development of its drug candidates. The Company has not generated any product revenue to date. The Company is also subject to a number of risks similar to other companies in the biotechnology industry, including the uncertainty of success of its nonclinical studies and clinical trials, regulatory approval of drug candidates, uncertainty of market acceptance of products, competition from substitute products and larger companies, the need to obtain additional financing, compliance with government regulations, protection of proprietary technology, dependence on third-parties, product liability, and dependence on key individuals.

Liquidity

The Company has incurred losses and negative cash flows from operations in each fiscal year since its inception. As of June 30, 2024 and December 31, 2023, the Company had an accumulated deficit of $516.6 million and $486.8 million, respectively. Management expects to continue to incur additional substantial losses in future fiscal years in the foreseeable future as a result of its research and development activities.

As of June 30, 2024, the Company has unrestricted cash, cash equivalents and investments of approximately $94.5 million which is available to fund future operations. The Company expects to continue to spend substantial amounts to continue the nonclinical and clinical development of its current and future programs. If the Company is able to gain marketing approval for drug candidates that are being developed, it will require significant additional amounts of cash in order to launch and commercialize such drug candidates. In addition, other unanticipated costs may arise. Because the design and outcome of the Company’s planned and anticipated clinical trials is highly uncertain, the Company cannot reasonably estimate the actual amounts necessary to successfully complete the development and commercialization of any drug candidate the Company may develop.

The Company expects to finance its cash needs through a combination of public or private equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and/or other marketing or distribution arrangements. In addition, the Company may seek additional capital to take advantage of favorable market conditions or strategic opportunities even if the Company believes it has sufficient funds for its current or future operating plans. Based on the Company’s research and development plans, the Company expects its existing unrestricted cash, cash equivalents and investments, will enable it to fund its operations for at least 12 months following the date the condensed consolidated financial statements are issued. However, the Company’s operating plan may change as a result of many factors currently unknown, and the Company may need to seek additional funds sooner than planned. Moreover, it is particularly difficult to estimate with certainty the Company’s future expenses given the dynamic nature of its business and the macro-economic environment generally.

The Company’s ability to raise additional funds depends on financial, economic and other factors, many of which are beyond its control. For example, if there is a disruption of global financial markets, the Company could be unable to access additional capital, which could negatively affect its ability to consummate certain corporate development transactions or other important, beneficial or opportunistic investments. If additional funds are not available to the Company when needed, on terms that are acceptable to the Company, or at all, the Company may be required to: delay, limit, reduce or terminate nonclinical studies, clinical trials or other research and development activities or eliminate one or more of its development programs altogether; or delay, limit, reduce or terminate its efforts to establish manufacturing and sales and marketing capabilities or other activities that may be necessary to commercialize any future approved products, or reduce the Company’s flexibility in developing or maintaining its sales and marketing strategy.

Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company has always maintained a dual banking system to limit its credit and liquidity risk.

License and collaboration agreements

6 Months Ended

Jun. 30, 2024

License And Collaboration Agreements [Abstract]

License and collaboration agreements

10.

License and collaboration agreements

Agreement with Emory University (Emory)

In June 2018, the Company entered into a license agreement with Emory (the Emory License Agreement), pursuant to which Emory granted the Company a worldwide, sublicensable license under certain of its intellectual property rights to make, have made, develop, use, offer to sell, sell, import and export products containing certain compounds relating to Emory’s hepatitis B virus capsid assembly modulator technology, for all therapeutic and prophylactic uses. Such license is initially exclusive with respect to specified licensed patents owned by Emory and non-exclusive with respect to certain of Emory’s specified know-how. In June 2022, the license to such patents became non-exclusive with respect to all fields except for the treatment and prevention of HBV; however, the Company may select up to six compounds which will maintain exclusivity with respect to all therapeutic and prophylactic uses. With respect to all other compounds that are enabled by the licensed patents, those which are jointly invented by the Company and Emory or inventors in the Schinazi laboratory, or which are disclosed in a specified licensed patent, are licensed to the Company exclusively including as to Emory; whereas all other such compounds are licensed to the Company non-exclusively. Under the terms of the Emory License Agreement, the Company is obligated to use commercially reasonable efforts to bring licensed products to market in accordance with a mutually agreed upon development plan. Unless terminated earlier by either party in accordance with the provisions thereof, the Emory License Agreement shall continue until the expiration of the last–to-expire of the patents licensed to the Company thereunder.

In June 2020, the Company amended the license agreement with Emory. Pursuant to the amended license agreement, Emory granted the Company additional patent rights to certain compounds targeting the treatment or prevention of HBV. As consideration for the additional rights, the Company made a one-time, non-refundable payment to Emory in the amount of $0.2 million, with an additional obligation to pay up to a maximum of $35,000. On the same date, the Company entered into a collaboration agreement with Emory, with the initial research plan pertaining to the synthesis and evaluation of the compounds licensed through the additional patent rights granted in the amended license agreement. The research plan was set to terminate one year from the effective date of June 2020 but the Company exercised its option to extend it for a second year. In June 2022, the research plan terminated. In connection with the research plan, the Company provided Emory funding up to $0.3 million per year.

The Company has agreed to pay Emory up to an aggregate of $125.0 million upon the achievement of specified development, regulatory, and commercial milestones, and all ongoing patent costs. During the three and six months ended June 30, 2024 and 2023, the Company had no expenses related to milestone payments. The Company also agreed to pay Emory tiered single-digit royalties on worldwide annual net sales of licensed products, on a quarterly basis and calculated on a product-by-product basis. With respect to licensed products containing any of a specified subset of the licensed compounds, such royalties range from a mid-single digit to a high-single digit percentage rate. With respect to licensed products which do not contain such compounds, the royalties span a range of percentage rates within the mid-single digits if a Phase 1 clinical trial is initiated for the product within three years of the effective date of the Emory License Agreement, and range from a low-single digit to a mid-single digit rate if a Phase 1 clinical trial is initiated

more than three years after the effective date. During the three and six months ended June 30, 2024 and 2023, the Company made no payments associated with royalties and recognized no expense or accruals.

Agreement with Luxna Biotech Co., Ltd. (Luxna)

On December 19, 2018, the Company entered into a license agreement with Luxna, pursuant to which Luxna granted the Company an exclusive, worldwide, sublicensable license under certain of Luxna’s intellectual property rights to research, develop make, have made and commercialize for all therapeutic and prophylactic uses, (i) products containing oligonucleotides targeting the hepatitis B virus genome, (ii) products containing certain oligonucleotides targeting up to three genes which contribute to MASH, which the Company may select at any time during the first eight years of the term, to the extent not licensed to a third party, and (iii) products containing oligonucleotides targeting up to three genes which contribute to hepatocellular carcinoma, which the Company may select at any time during the first three years of the term, which expired in December 2021. As consideration for this agreement, the Company paid an upfront license fee of $0.6 million.

In April 2020, the Company amended the license agreement with Luxna. Pursuant to the amended license agreement, Luxna granted the Company an exclusive, worldwide license under the licensed patents to research, develop, make, have made and commercialize products containing oligonucleotides targeting three families of viruses: Orthomyxoviridae, Paramyxoviridae, and Coronaviridae (a family which includes SARS-CoV-2). As consideration for the amended license agreement, the Company paid Luxna a one-time non-refundable fee of $0.2 million in April 2020.

The Company is obligated to make payments to Luxna, in aggregate, totaling up to but no more than $55.5 million upon the achievement of specified development, regulatory, and commercial milestones. During the three and six months ended June 30, 2024 and 2023, the Company recognized no expenses related to milestone payments. The Company is also required to pay Luxna a low-single digit royalty percentage on net sale of applicable products, if any. During the three and six months ended June 30, 2024 and 2023, the Company made no payments associated with royalties.

Agreement with Katholieke Universiteit Leuven (KU Leuven)

On June 25, 2020, the Company entered into a Research, Licensing and Commercialization Agreement (KU Leuven Agreement) with KU Leuven, under which the Company is collaborating with KU Leuven’s Rega Institute for Medical Research, as well as its Centre for Drug Design and Discovery, to research and develop potential protease inhibitors for the treatment, diagnosis or prevention of coronaviruses, including of SARS-CoV-2. Unless terminated earlier by either party in accordance with provisions in the agreement, the collaboration period will terminate at the earlier of completion of all collaboration activities or 2.5 years. In connection with the KU Leuven Agreement, KU Leuven and the Company granted each other exclusive cross-licenses to use certain know-how and existing patents of the other party as well as certain joint know-how and joint patents to carry out research and development collaboration activities during the collaboration period. As of December 2022, the original collaboration period has expired. An amendment to the agreement was agreed in July 2023 to include a new collaboration plan. KU Leuven granted to the Company an exclusive (including as to KU Leuven), worldwide license under certain of KU Leuven’s know-how and existing patents, and certain joint patents and joint know-how, to manufacture and commercialize the licensed products for the treatment, diagnosis or detection of viral infections in humans. KU Leuven reserved the right to use all KU Leuven knowhow, existing KU Leuven patents, joint patents and joint know-how for academic and non-commercial research and teaching purposes. As consideration for this license, the Company is obligated to make payments to KU Leuven, in aggregate, totaling up to but no more than $30.0 million upon the achievement of certain commercial sales milestones. For each licensed product developed through KU Leuven and the Company’s collaborative effort, the Company is obligated to make payments to KU Leuven, in aggregate, totaling up to $32.0 million upon the achievement of certain development and regulatory milestones. The Company is also required to pay KU Leuven a low-to-mid-single digit royalty percentage, subject to certain adjustments, on net sales of applicable products, if any. The Company is also required to pay a revenue share to KU Leuven should the program be partnered with an external party. Unless terminated earlier by either party, the agreement shall continue until the expiration of the last to expire royalty term, which is the later of the expiration or termination of the last valid patent claim covering the manufacture, use, sale or importation of the licensed product in a particular country or 10 years after the first commercial sale of a licensed product. During the three and six months ended June 30, 2024, the Company made no payments of royalties or milestones.

Agreements with Merck

In December 2020, the Company and Merck & Co. entered into an exclusive License and Research Collaboration Agreement under which Merck and the Company agreed to apply the Company’s oligonucleotide platform technology to discover, research, optimize and develop oligonucleotides directed against a MASH target and up to one additional liver-targeted cardiometabolic and/or fibrosis target. Under the terms of the agreement, the Company received an upfront payment of $12 million from Merck. With respect to the collaboration target, the Company will be eligible for up to $458.0 million in development and commercialization milestones as

well as tiered royalties on net sales. These potential payments consist of (i) potential development milestones (such as for the first dosing of an animal specimen in a Good Laboratory Practice toxicology study, and initiation of Phase 1, 2 and 3 clinical trials), (ii) regulatory milestones (such as for marketing authorizations for a product in certain countries) and (iii) sales-based milestones. The Company is primarily responsible for designing, preparing and evaluating the oligonucleotide molecules and delivering optimized lead molecules, and Merck is responsible for subsequent research, clinical development and commercialization efforts.

In January 2022, the Company and Merck entered into an amendment to the exclusive License and Research Collaboration Agreement (the First Amendment, together with the Original Agreement, the Expanded Arrangement). As a result of the First Amendment, the collaboration with Merck was expanded to include the Company's grant of rights to Merck of an early-stage program with respect to a second undisclosed MASH target, on which the Company had previously been working independently. In addition, under this Expanded Arrangement, Merck has the ability to add an additional third target of interest in the cardiometabolic/fibrosis space to the collaboration. This right to add an additional third target expired in January 2023. Under the Expanded Arrangement, the Company received an upfront payment of $15 million from Merck for the Company's grant of rights to the program directed at a second undisclosed MASH target. With respect to the second target in the collaboration, the Company is eligible to receive up to approximately $460.0 million in development and commercialization milestones as well as tiered royalties on net sales. These potential payments consist of (i) potential development milestones (such as for the first dosing of an animal specimen in a Good Laboratory Practice toxicology study, and initiation of Phase 1, 2 and 3 clinical trials), (ii) regulatory milestones (such as for marketing authorizations for a product in certain countries) and (iii) sales-based milestones.

In February 2023, Merck provided to the Company written notice of termination for one of the targets in the collaboration. In May 2024, Merck provided to the Company written notice of termination for the second of the targets in the collaboration.

The Company determined that the Original Agreement and First Amendment fall within the scope of ASC 808, Collaborative Arrangements (ASC 808), due to Merck and the Company being joint active participants, as well as both parties having significant risks and rewards. The Company analogized to ASC 606, Revenue from Contracts with Customers (ASC 606), for the accounting of payments including upfront payments and other milestones. Management of the Company determined that there was one performance obligation for each of the agreements given the deliverables are not distinct. The Company evaluated the performance obligation within each agreement and determined the performance obligations are satisfied over time as Merck jointly owns any collaboration intellectual property that is developed during the research term. Given the nature of the arrangements, the Company believes that the satisfaction of its performance obligations is best measured by the progress of its efforts. As such, the Company has used an input method based on costs incurred to recognize revenue associated with the upfront payments. This assessment is performed separately for each of the Original Agreement and the First Amendment, and the Company recognizes revenue over time based on the costs incurred. The effect of any updates to the estimated overall costs are recorded as a change in estimate. In addition, variable consideration (e.g., milestone payments) were evaluated based on the Company’s analysis that the possibility of achieving any of the milestone payments is remote, and therefore determined to be constrained and excluded from the transaction price. Similarly, the Company accounts for the future royalties under the sales-based royalty exception in ASC 606-10-55-65 through 55-65B therefore they are not considered in the transaction price and expected to be recognized when future sales occur since that is expected to occur after the performance obligation has been fully satisfied.

During the three months ended June 30, 2024 and 2023, the Company recognized $0.3 million and $5.2 million, respectively, in revenue from collaborative arrangements related to upfront payments. During the three and six months ended June 30, 2024 and 2023, the Company recognized no revenue from collaborative arrangements related to milestone payments. The unrecognized portion of the upfront payments received during the three and six months ended June 30, 2024 and 2023 is recorded on the consolidated balance sheets as “Deferred revenue from collaborations”.

Changes in deferred revenue balances arose as a result of the Company recognizing the following revenue from collaborative arrangements during the periods below (in thousands):


	As of June 30,
	2024			2023

Deferred revenue from collaborations as of January 1	$	84		$	8,743
Consideration received in the period		208			535
Revenue from collaborations recognized in the period		(292	)		(5,175	)
Deferred revenue from collaborations as of June 30	-			$	4,103

Government Grants

In 2022, the Company was awarded a grant of $1.1 million by the National Institute of Health (NIH) for research to target coronaviruses. The grant is for multiple years with the amount updated after each year of progress through 2025, subject to the annual

reapplication and approval by the NIH. In 2023, the approved grant awarded was an additional $1.4 million. In 2024, the approved grant awarded was an additional $1.5 million.

In 2023, the Company was awarded a contract of $8.5 million by the National Institute of Allergies and Infectious Diseases (NIAID) for research to target coronaviruses. In March 2024, the Company entered into an amendment to the above contract and was awarded an additional $1.3 million, making the total contract value $9.8 million. The contract ends in early 2026.

U.S. GAAP does not contain authoritative accounting standards for grants or contracts provided by governmental entities to a for-profit entity. Absent authoritative accounting standards, interpretative guidance issued and commonly applied by financial statement preparers allows for the selection of accounting policies amongst acceptable alternatives. The Company determined it most appropriate to account for grants by analogy to International Accounting Standards 20 (IAS 20), Accounting for Government Grants and Disclosure of Government Assistance. Under this model, reimbursements the Company receives from the U.S. government for qualifying expenditures under the NIH grant will be recognized in earnings as a reduction to Research and development expense when there is reasonable assurance that the Company will receive the grant. IAS 20 does not define “reasonable assurance”; however, based on certain interpretations, it is analogous to “probable” as defined in FASB ASC 450-20-20 under U.S. GAAP, which is the definition the Company has applied. The grants and contracts will be recognized in earnings as a reduction of the related expenses.

Net income (loss) per share - Schedule of Earnings Per Share Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income (loss)	$ 5,061	$ (18,791)	$ (29,802)	$ (41,746)
Weighted average common stock outstanding	156,444,408	43,215,478	156,299,282	43,063,615
Common shares issuable	203,509
Weighted average common stock outstanding, assuming dilution	156,647,917	43,215,478	156,299,282	43,063,615
Net income (loss) per share - basic	$ 0.03	$ (0.43)	$ (0.19)	$ (0.97)
Net income (loss) per share - diluted	$ 0.03	$ (0.43)	$ (0.19)	$ (0.97)

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

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

+ References

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+ Details

Capital stock - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 27, 2024	Dec. 31, 2023	Oct. 20, 2020
Number of shares of common stock authorized	520,000,000		320,000,000	320,000,000
Number of shares of preferred stock authorized	10,000,000		10,000,000	10,000,000
Preferred stock authorized par value	$ 0.0001		$ 0.0001	$ 0.0001
Common stock voting right	one
Preferred Stock, Shares Issued	0		0
Voting Common Stock [Member]
Number of shares of common stock authorized				300,000,000
Voting Common Stock [Member] \| Minimum [Member]
Number of shares of common stock authorized		300,000,000
Voting Common Stock [Member] \| Maximum [Member]
Number of shares of common stock authorized		500,000,000
Non-Voting Common Stock [Member]
Number of shares of common stock authorized				20,000,000

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 45,078	$ 135,704
Restricted cash	70	70
Short-term investments	49,458
Other current assets	4,964	5,310
Total current assets	99,570	141,084
Operating lease right-of-use assets	5,813	6,559
Property and equipment, net	2,797	3,259
Other assets	631	625
Total assets	108,811	151,527
Current liabilities:
Accounts payable	6,819	2,517
Accrued liabilities	12,064	16,842
Operating lease liabilities, current	3,351	3,229
Finance lease liabilities, current	4	10
Deferred revenue from customers, current	1,326	1,224
Deferred revenue from collaborations, current		84
Total current liabilities	23,564	23,906
Operating lease liabilities, net of current portion	6,279	7,668
Finance lease liabilities, net of current portion	203	231
Warrant liability	11,490	27,596
Long term liability	46	46
Total liabilities	41,582	59,447
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; no shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively.
Common stock, $0.0001 par value; 520,000,000 shares and 320,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively; 79,785,898 and 75,096,906 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively.	8	7
Additional paid-in capital	583,326	578,325
Accumulated deficit	(516,599)	(486,797)
Accumulated other comprehensive income	494	545
Total stockholders’ equity	67,229	92,080
Total liabilities and stockholders’ equity	$ 108,811	$ 151,527

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	12. Commitments and contingencies From time to time, the Company may have certain contingent liabilities, including legal matters that arise in the ordinary course of its business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. Contingent liabilities requiring accrual were appropriately accrued as of June 30, 2024 and December 31, 2023. The Company enters into contracts in the normal course of business that includes arrangements with clinical research organizations, vendors for preclinical research and vendors for manufacturing. These agreements generally allow for cancellation with notice. As of June 30, 2024, the Company had no material non-cancellable purchase commitments.

Summary of significant accounting policies

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary of significant accounting policies

Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (the SEC) regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative U.S. GAAP included in the Accounting Standards Codification (ASC), and Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB).

The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to requirements for interim financial statements. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2023, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 12, 2024.

Unaudited interim financial information

The accompanying consolidated balance sheet as of June 30, 2024, the consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, the consolidated statements of stockholders’ equity for the three and six months ended June 30, 2024 and 2023, and the consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are unaudited. The unaudited consolidated interim financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position as of June 30, 2024 and the consolidated results of its operations and cash flows for the six months ended June 30, 2024 and 2023. The consolidated financial data and other information disclosed in these notes related to the three and six months ended June 30, 2024 and 2023 are unaudited. The consolidated results for the three and six months ended June 30, 2024 are not necessarily indicative of results to be expected for the year ending December 31, 2024, any other interim periods, or any future year or period.

Significant accounting policies and estimates

No material changes were made to the Company’s significant accounting policies disclosed in Note 2, Summary of significant accounting policies, in its Annual Report on Form 10-K, filed with the SEC on March 12, 2024, for the year ended December 31, 2023.

Recently issued accounting standards

From time to time, new accounting pronouncements are issued by FASB that the Company adopts as of the specified effective date. The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has the option to not “opt out” of the extended transition related to complying with new or revised accounting standards. This means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company has the option to adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and can do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280)(ASU 2023-07). The guidance improves reportable segment disclosures requirements, primarily through enhanced disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the potential impact of this standard on its consolidated financial statements.

The Company has considered all recent accounting pronouncements issued, but not yet effective, and does not expect any to have a material effect on the Company’s condensed consolidated financial statements other than those discussed in its Annual Report on Form 10-K, filed with the SEC on March 12, 2024, for the year ended December 31, 2023.

Net income (loss) per share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net income (loss) per share

14.

Net income (loss) per share

The following table summarizes the computation of basic and diluted net income (loss) per share of the Company (in thousands, except share and per share data):


	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2024		2023			2024			2023
Net income (loss)	$	5,061	$	(18,791	)	$	(29,802	)	$	(41,746	)
Weighted average common stock outstanding		156,444,408		43,215,478			156,299,282			43,063,615
Common shares issuable		203,509		-			-			-
Weighted average common stock outstanding, assuming dilution		156,647,917		43,215,478			156,299,282			43,063,615
Net income (loss) per share - basic	$	0.03	$	(0.43	)	$	(0.19	)	$	(0.97	)
Net income (loss) per share - diluted	$	0.03	$	(0.43	)	$	(0.19	)	$	(0.97	)

The Company’s potentially dilutive securities, which include options to purchase common stock, unvested restricted stock and warrants to purchase common stock, have been excluded from the computation of diluted net income (loss) per share as the effect would be to reduce the net income (loss) per share. Therefore, the weighted-average number of shares of Common Stock outstanding used to calculate both basic and diluted net income (loss) per share is the same. The Company excluded the following potential shares of Common Stock, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share for the periods indicated because including them would have had an anti-dilutive effect:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Options to purchase common stock		9,798,963		10,506,661		10,041,963		10,506,661
Unvested restricted stock		40,405		-		154,580		-
Warrants to purchase common stock		56,241,973		-		56,241,973		-
		66,081,341		10,506,661		66,438,516		10,506,661

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 5,061	$ (18,791)	$ (29,802)	$ (41,746)

- Definition

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

+ References

+ Details

License and collaboration agreements - Summary of Deferred Revenue from Collaborative Arrangements (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
License And Collaboration Agreements [Abstract]
Deferred revenue from collaborations as of January 1	$ 84	$ 8,743
Consideration received in the period	208	535
Revenue from collaborations recognized in the period	$ (292)	(5,175)
Deferred revenue from collaborations as of June 30		$ 4,103

Investments

6 Months Ended

Jun. 30, 2024

Debt Securities, Available-for-Sale and Held-to-Maturity, after Allowance for Credit Loss [Abstract]

Investments

As of June 30, 2024, amortized cost, gross unrealized gains and losses, and estimated fair values of total fixed-maturity securities were as follows (in thousands):


	June 30, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gain		Loss			Fair Value
Available-for-sale securities:
U.S. Treasury bonds	$	49,510	$	-	$	(51	)	$	49,458

As of December 31, 2023, the Company did not hold any available for sale securities.

Changes in fair value are related to changes in market interest rates. The Company expects to collect all contractual principal and interest payments.

The following is a summary of maturities of securities available-for-sale as of June 30, 2024 (in thousands):


	Available-for-sale
	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	49,510	$	49,458
Total investments	$	49,510	$	49,458

The Company recorded interest income of $0.3 million and $0.9 million for the three and six months ended June 30, 2024, respectively, and $1.0 million and $1.7 million for the three and six months ended June 30, 2023, respectively, as a component of interest and other income (expense), net on the Company’s condensed consolidated statements of operations and comprehensive income (loss).

Stock-based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense		$ 2,056,000	$ 3,197,000	$ 4,704,000	$ 6,860,000
Share based compensation expense recognized tax benefit		0	0	0	0
Share based payment unamortized share based payment expenses	$ 3,000
Number of options cancelled in connection with exchange offer	3,880,332
Number of replacement options granted in connection with exchange offer	1,906,153
Unamortized compensation cost	$ 3,000
Common stock vesting period	1 year
Replacement Option One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options tendered	1.4
Replacement Option Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options tendered	3.4
Eligible options tendered for replacement option, value	$ 11.86
Maximum [Member] \| Replacement Option One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Eligible options tendered for replacement option, value	11.85
Minimum [Member] \| Replacement Option One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Eligible options tendered for replacement option, value	$ 2.1
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense		1,900,000	$ 3,000,000	4,400,000	$ 6,500,000
Share based payment unamortized share based payment expenses		7,100,000		$ 7,100,000
Share based payment expenses amortized over a weighted average period				1 year 11 months 12 days
Unamortized compensation cost		$ 7,100,000		$ 7,100,000
Share based payments weighted-average grant date fair value		$ 0.3	$ 0.79	$ 0.74	$ 0.93
Common stock issued upon exercise of stock options				0	0
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense		$ 0	$ 0	$ 100,000	$ 0
Share based payment unamortized share based payment expenses		43,000		$ 43,000
Share based payment expenses amortized over a weighted average period				3 years
Unamortized compensation cost		43,000		$ 43,000
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense		$ 100,000	$ 200,000	$ 300,000	$ 400,000
Purchase of common stock				560,971	562,493

Capital stock

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Capital stock

6. Capital stock

Common stock

On October 20, 2020, the Company amended its certificate of incorporation to increase the total shares of common stock authorized for issuance to 320,000,000 and decrease the total shares of preferred stock authorized for issuance to 10,000,000 with a par value of $0.0001 per share. 300,000,000 shares of the common stock were designated as “Voting Common Stock” and 20,000,000 shares of the common stock were designated as “Non-Voting Common Stock”.

On June 27, 2024, the Company amended its certificate of incorporation to increase the total shares of voting common stock authorized for issuance from 300,000,000 to 500,000,000.

The holders of shares of voting common stock are entitled to one vote for each share of common stock at all meetings of stockholders.

- Definition

The entire disclosure for equity.

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+ Details

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 02, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	Aligos Therapeutics, Inc.
Entity Central Index Key	0001799448
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Title of 12(b) Security	Common Stock, par value, $0.0001 per share
Trading Symbol	ALGS
Security Exchange Name	NASDAQ
Entity File Number	001-39617
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4724808
Entity Address, Address Line One	One Corporate Drive
Entity Address, Address Line Two	2nd Floor
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	800
Local Phone Number	466-6059
Document Quarterly Report	true
Document Transition Report	false
Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		76,810,229
Non-voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,092,338

Common Warrants and Pre Funded Warrants - Summary of Assumptions Used to Determine the fair value at Issuance and Reporting Date of Common Warrants Granted (Details) - Common Warrants [Member]	Jun. 30, 2024	Dec. 31, 2023
Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative Investment, Measurement Input	6.33	6.83
Risk-free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative Investment, Measurement Input	0.0427	0.0388
Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative Investment, Measurement Input	0.7754	0.828

Fair value - Summary of Fair Value of the Financial Instruments that are Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Level 1 [Member]
Assets:
Cash equivalents	$ 45,078	$ 135,704
Available for sale securities	49,458
Liabilities:
Fair value, Liabilities	0	0
Fair Value, Net Asset (Liability), Total	94,536	135,704
Level 2 [Member]
Assets:
Cash equivalents	0	0
Available for sale securities	0
Liabilities:
Fair value, Liabilities	0	0
Fair Value, Net Asset (Liability), Total	0	0
Level 3 [Member]
Assets:
Cash equivalents	0	0
Available for sale securities	0
Liabilities:
Fair value, Liabilities	(11,490)	(27,596)
Fair Value, Net Asset (Liability), Total	$ (11,490)	$ (27,596)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2022	$ 103,900	$ 4	$ 502,613	$ (399,118)	$ 401
Beginning balance, Shares at Dec. 31, 2022		42,922,980
Issuance of common stock upon exercise of stock options	23		23
Issuance of common stock upon exercise of stock options, shares		17,109
Issuance of common stock related to ESPP purchase	461		461
Issuance of common stock related to ESPP purchase, shares		562,493
Stock-based compensation expense related to employee stock awards	6,478		6,478
Stock-based compensation expense related to employee stock purchases	382		382
Vesting of early exercised common stock options	41		41
Other comprehensive income (loss)	96				96
Net income (loss)	(41,746)			(41,746)
Ending balance at Jun. 30, 2023	69,635	$ 4	509,998	(440,864)	497
Ending balance, Shares at Jun. 30, 2023		43,502,582
Beginning balance at Mar. 31, 2023	84,750	$ 4	506,320	(422,073)	499
Beginning balance, Shares at Mar. 31, 2023		42,940,089
Issuance of common stock related to ESPP purchase	461		461
Issuance of common stock related to ESPP purchase, shares		562,493
Stock-based compensation expense related to employee stock awards	2,975		2,975
Stock-based compensation expense related to employee stock purchases	222		222
Vesting of early exercised common stock options	20		20
Other comprehensive income (loss)	(2)				(2)
Net income (loss)	(18,791)			(18,791)
Ending balance at Jun. 30, 2023	69,635	$ 4	509,998	(440,864)	497
Ending balance, Shares at Jun. 30, 2023		43,502,582
Beginning balance at Dec. 31, 2023	92,080	$ 7	578,325	(486,797)	545
Beginning balance, Shares at Dec. 31, 2023		75,096,906
Issuance of common stock related to ESPP purchase	297		297
Issuance of common stock related to ESPP purchase, shares		560,971
Issuance of common stock from RSU vesting, shares		2,490
Issuance of common stock upon exercise of pre-funded warrants	1	$ 1
Issuance of common stock upon exercise of pre-funded warrants, shares		4,125,531
Stock-based compensation expense related to employee stock awards	4,417		4,417
Stock-based compensation expense related to employee stock purchases	287		287
Other comprehensive income (loss)	(51)				(51)
Net income (loss)	(29,802)			(29,802)
Ending balance at Jun. 30, 2024	67,229	$ 8	583,326	(516,599)	494
Ending balance, Shares at Jun. 30, 2024		79,785,898
Beginning balance at Mar. 31, 2024	59,796	$ 7	580,973	(521,660)	476
Beginning balance, Shares at Mar. 31, 2024		75,668,521
Issuance of common stock related to ESPP purchase	297		297
Issuance of common stock related to ESPP purchase, shares		560,971
Issuance of common stock upon exercise of pre-funded warrants	1	$ 1
Issuance of common stock upon exercise of pre-funded warrants, shares		3,556,406
Stock-based compensation expense related to employee stock awards	1,918		1,918
Stock-based compensation expense related to employee stock purchases	138		138
Other comprehensive income (loss)	18				18
Net income (loss)	5,061			5,061
Ending balance at Jun. 30, 2024	$ 67,229	$ 8	$ 583,326	$ (516,599)	$ 494
Ending balance, Shares at Jun. 30, 2024		79,785,898

Investments (Tables)

6 Months Ended

Jun. 30, 2024

Debt Securities, Available-for-Sale and Held-to-Maturity, after Allowance for Credit Loss [Abstract]

Summary of Available For Sale and Held to Maturity Securities Amortized Cost Gross Unrealized Gains Losses and Fair Value

As of June 30, 2024, amortized cost, gross unrealized gains and losses, and estimated fair values of total fixed-maturity securities were as follows (in thousands):


	June 30, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gain		Loss			Fair Value
Available-for-sale securities:
U.S. Treasury bonds	$	49,510	$	-	$	(51	)	$	49,458

Summary of Debt Securities Available for Sale Maturity

The following is a summary of maturities of securities available-for-sale as of June 30, 2024 (in thousands):


	Available-for-sale
	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	49,510	$	49,458
Total investments	$	49,510	$	49,458

Revenue from contracts with customers

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers

11.

Revenue from contracts with customers

Agreement with ADCT

The Company determined that the ADC Therapeutics (ADCT) agreement falls within the scope of ASC 606, Revenue from Contracts with Customers (ASC 606). The agreement did not fall under the ASC 808 guidance due to ADCT and the Company not being joint active participants, nor both parties having significant risks and rewards. Management of the Company determined that there was one performance obligation for the agreements given the deliverables are not distinct. The Company evaluated the performance obligation and determined the performance obligations are satisfied over time. Given the nature of the arrangement, the Company believes that the satisfaction of its performance obligations is best measured by the progress of its efforts. As such, the Company has used an input method based on costs incurred to recognize revenue associated with the upfront payments, and the Company recognizes revenue over time based on the costs incurred. The effect of any updates to the estimated overall costs are recorded as a change in estimate. In addition, variable consideration (e.g., milestone payments) were evaluated based on the Company’s analysis that the possibility of achieving any of the milestone payments is remote, and therefore determined to be constrained and excluded from the transaction price. Similarly, the Company accounts for the future royalties under the sales-based royalty exception in ASC 606-10-55-65 through 55-65B therefore they are not considered in the transaction price and expected to be recognized when future sales occur since that is expected to occur after the performance obligation has been fully satisfied.

Agreement with Amoytop

In May 2023, the Company and Xiamen Amoytop Biotech Co., Ltd (Amoytop) entered into an exclusive Development Agreement and Research Collaboration Agreement with a focus on nucleic acid technology for HBV treatment, with the Company granting to Amoytop an exclusive option to enter into an exclusive license to develop and commercialize such compounds. Under the terms of the agreement, the Company received an upfront payment of $7.0 million, less withholding taxes of $1.1 million from Amoytop. With respect to the agreement, the Company will be eligible for up to $109.0 million in development and commercialization milestones as well as tiered royalties on net sales. These potential payments consist of (i) potential development milestones (such as for the commencement of a Good Laboratory Practice toxicology study for a collaboration compound, approval of IND by regulatory authority, initiation of Phase 2 and 3 clinical trials, and regulatory approval of a licensed product), and (ii) sales-based milestones.

In May 2024, the Company and Amoytop entered into a nine month extension to the Development Agreement and Research Collaboration Agreement, covering work performed through January 2025. Under the terms of the agreement, the Company received an upfront payment of $1.5 million.

The Company determined that the Amoytop agreement and extension falls within the scope of ASC 606, Revenue from Contracts with Customers (ASC 606). The agreement did not fall under the ASC 808 guidance due to Amoytop and the Company not being joint active participants, and both parties not having significant risks and rewards. Management of the Company determined that there were three performance obligations for the agreement given the deliverables are distinct. The Company evaluated the standalone selling price for each obligation based on available data for similar arrangements. The Company evaluated the performance obligations and determined the provision of R&D services for the collaboration compound performance obligation will be satisfied over time, the research license including data and know-how has been satisfied, and the provision of materials will be satisfied upon delivery. Given the nature of the arrangement, the Company believes that the satisfaction of its performance obligations is best measured by the progress of its efforts as it relates to the performance of the R&D services. As such, the Company has used an input

method based on costs incurred to recognize revenue associated with the upfront payments, and the Company recognizes revenue over time based on the costs incurred. The effect of any updates to the estimated overall costs are recorded as a change in estimate. In addition, variable consideration (e.g., milestone payments) were evaluated based on the Company’s analysis that the possibility of achieving any of the milestone payments is remote, and therefore determined to be constrained and excluded from the transaction price. Similarly, the Company accounts for the future royalties under the sales-based royalty exception in ASC 606-10-55-65 through 55-65B therefore they are not considered in the transaction price and expected to be recognized when future sales occur since that is expected to occur after the performance obligation has been fully satisfied.

During the three months ended June 30, 2024 and 2023, the Company recognized $1.8 million and $4.4 million, respectively, in revenue from customers related to upfront payments. During the three months ended June 30, 2024 and 2023, the Company recognized no revenue from customers related to milestone payments. The unrecognized portion of the upfront payments received during the three months ended June 30, 2024 and 2023 is recorded on the consolidated balance sheets as “Deferred revenue from customers”.

Changes in deferred revenue balances arose as a result of the Company recognizing the following revenue from customers during the periods below (in thousands):


	As of June 30,
	2024			2023

Deferred revenue from customers as of January 1	$	1,224		$	700
Consideration received in the period		1,857			6,676
Revenue from customers recognized in the period		(1,755	)		(4,434	)
Deferred revenue from customers as of June 30	$	1,326		$	2,942

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Fair value (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of fair value of the financial instruments that are measured at fair value on a recurring basis

The following tables present the fair value of the Company’s financial instruments that are measured or disclosed at fair value on a recurring basis (in thousands):


	Fair Value Measurements as of June 30, 2024
	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	45,078	$	-	$	-
Available for sale securities		49,458		-		-
Liabilities:
Warrant liability		-		-		(11,490	)
	$	94,536	$	-	$	(11,490	)

	Fair Value Measurements as of December 31, 2023
	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	135,704	$	-	$	-
Liabilities:
Warrant liability		-		-		(27,596	)
	$	135,704	$	-	$	(27,596	)

Accrued liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Summary of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	June 30,		December 31,
	2024		2023
Accrued compensation	$	3,599	$	6,673
Accrued payables		5,758		7,144
Other		2,707		3,025
Total	$	12,064	$	16,842

Investments - Summary of Available For Sale Securities Amortized Cost Gross Unrealized Gains Losses and Fair Value (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale securities, Amortized Cost	$ 49,510,000
Available-for-sale securities, Estimated Fair Value	49,458,000	$ 0
U.S. Treasury bonds [Member]
Debt Securities, Available-for-Sale [Line Items]
Available-for-sale securities, Amortized Cost	49,510,000
Available-for-sale securities, Gross Unrealized Loss	(51,000)
Available-for-sale securities, Estimated Fair Value	$ 49,458,000

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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+ Details

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investments - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
Investments - Additional Information (Detail) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investment In Available For Sale And Held To Maturity Securities [Line Items]
Available for sale securities	$ 49,458,000		$ 49,458,000		$ 0
Interest income	$ 300,000	$ 1,000,000	$ 900,000	$ 1,700,000

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

Revenue from contracts with customers (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Deferred Revenue from Customers

Changes in deferred revenue balances arose as a result of the Company recognizing the following revenue from customers during the periods below (in thousands):


	As of June 30,
	2024			2023

Deferred revenue from customers as of January 1	$	1,224		$	700
Consideration received in the period		1,857			6,676
Revenue from customers recognized in the period		(1,755	)		(4,434	)
Deferred revenue from customers as of June 30	$	1,326		$	2,942

Stock-based compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based compensation

Stock options

During the three and six months ended June 30, 2024, the Company’s stock option compensation expense was approximately $1.9 million and $4.4 million, respectively, and during the three and six months ended June 30, 2023, the Company’s stock option compensation expense was approximately $3.0 million and $6.5 million, respectively. There was no recognized tax benefit in either of the periods. As of June 30, 2024, the unamortized expense balance was $7.1 million, to be amortized over a weighted average period of 1.95 years.

Stock option activity during the six months ended June 30, 2024 is as follows:


	Shares subject to options			Weighted- average exercise price		Weighted- average remaining contractual term (years)		Aggregate Intrinsic Value (in thousands)

Outstanding as of January 1, 2024		10,376,838		$	6.38	6.9		$	—
Granted		3,183,515			1.03
Replacement options from Exchange		1,906,153			0.96
Exercised		—			—				—
Forfeited or Expired		(1,544,211	)		6.73
Cancelled options from Exchange		(3,880,332	)		10.43
Outstanding as of June 30, 2024		10,041,963			2.04		8.20		—
Options vested and expected to vest as of June 30, 2024		10,041,963			2.04		8.20		—
Options vested and exercisable as of June 30, 2024		3,436,608			3.70		5.97		—

The weighted-average grant date fair value of options granted during the three and six months ended June 30, 2024 was $0.30 and $0.74 per share, respectively, and during the three and six months ended June 30, 2023 was $0.79 and $0.93 per share, respectively.

Option exchange

In January 2024, the Company commenced a stock option exchange program (the Exchange Offer) pursuant to which eligible employees were provided the opportunity to exchange eligible stock options for a number of new replacement option grants at the exchange ratio of one replacement option for every 1.4 eligible options tendered for those priced between $2.10 to $11.85, and one replacement option for every 3.4 eligible options tendered for those priced over $11.86. The Exchange Offer concluded in February 2024.

In connection with the Exchange Offer, the Company canceled 3,880,332 eligible options and granted 1,906,153 replacement options. The exchange of these options was accounted for as a modification of share-based compensation awards. The Company recognized $3.0 thousand of unamortized compensation cost related to the canceled options as well as the incremental compensation cost associated with the replacement options over their one year vesting term.

Restricted stock units

During the three and six months ended June 30, 2024, the Company recorded zero and $0.1 million of stock-based compensation expense related to restricted stock units. During the three and six months ended June 30, 2023, the Company did not record any stock-based compensation expense related to restricted stock awards. As of June 30, 2024, the unamortized expense balance was $43 thousand, to be amortized over a weighted average period of 3.0 years.

Restricted stock activity during the six months ended June 30, 2024 is as follows:


	Number of Awards				Weighted- Average Grant Date Fair Value		Aggregate Fair Value (in thousands)

Issued and unvested as of January 1, 2024		134,120		$		0.84	$	113
Restricted stock awards granted		22,950				1.13		26
Restricted stock awards vested		(2,490	)			0.84		(2	)
Issued and unvested as of June 30, 2024		154,580		$		0.88	$	137

During the six months ended June 30, 2024 and 2023, the Company did not issue shares of common stock, upon exercise of unvested stock options or purchases for unvested restricted stock awards.

Employee stock purchase plan

During the three and six months ended June 30, 2024, the Company recorded total stock-based compensation expense related to the employee stock purchase plan of $0.1 million and $0.3 million, respectively. During the three and six months ended June 30, 2023, the Company recorded total stock-based compensation expense related to the employee stock purchase plan of $0.2 million and $0.4 million, respectively. During the six months ended June 30, 2024 and 2023, 560,971 and 562,493 purchases of awards under this plan were made, respectively.

Stock-based compensation expense was allocated as follows for the three and six months ended June 30, 2024 and 2023 (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Research and development	$	1,194	$	1,572	$	2,634	$	3,743
General and administrative		862		1,625		2,070		3,117
Total	$	2,056	$	3,197	$	4,704	$	6,860

Revenue from contracts with customers - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended
	May 31, 2024	May 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from customers related to upfront payments			$ 1,800,000	$ 4,400,000
Revenue from customers related to milestone payments			$ 0	$ 0
Amoytop License and Research Collaboration [Member] \| Amoytop [Member]
Upfront payment received	$ 1,500,000	$ 7,000,000
Withholding taxes		1,100,000
Amoytop License and Research Collaboration [Member] \| Amoytop [Member] \| Maximum [Member]
Milestone payments and royalties receivable		$ 109,000,000

Subsequent events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent events

15.

Subsequent events

In preparing the interim financial statements for the three and six months ended June 30, 2024, the Company evaluated subsequent events for recognition and measurement purposes during which time the following events has occurred that require disclosure:

Amoytop agreement

In July 2024, the Company and Amoytop entered into a clinical trial collaboration and supply agreement whereby Amoytop has agreed to sponsor and perform a Phase 1b exploratory clinical study evaluating the efficacy and safety of ALG-000184 in combination with PEGBING® (Mipeginterferon alfa-2b) in CHB patients in China. The clinical study is expected to begin after approval (if any) by the National Medical Products Administration in China.

Common Warrants and Pre Funded Warrants - Summary of Pre-funded Warrant Shares Outstanding (Details) - October 2023 Securities Purchase Agreement	6 Months Ended
	Jun. 30, 2024 shares
Class of Warrant or Right [Line Items]
Beginning balance, shares	81,054,686
Exercised	(4,125,531)
Ending balance, shares	76,929,155
Exercisable at June 30, 2024	76,929,155

Summary of significant accounting policies (Policies)	6 Months Ended
Summary of significant accounting policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (the SEC) regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative U.S. GAAP included in the Accounting Standards Codification (ASC), and Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB). The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to requirements for interim financial statements. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2023, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 12, 2024.
Unaudited interim financial information	Unaudited interim financial information The accompanying consolidated balance sheet as of June 30, 2024, the consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, the consolidated statements of stockholders’ equity for the three and six months ended June 30, 2024 and 2023, and the consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are unaudited. The unaudited consolidated interim financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s consolidated financial position as of June 30, 2024 and the consolidated results of its operations and cash flows for the six months ended June 30, 2024 and 2023. The consolidated financial data and other information disclosed in these notes related to the three and six months ended June 30, 2024 and 2023 are unaudited. The consolidated results for the three and six months ended June 30, 2024 are not necessarily indicative of results to be expected for the year ending December 31, 2024, any other interim periods, or any future year or period.
Significant accounting policies and estimates	Significant accounting policies and estimates No material changes were made to the Company’s significant accounting policies disclosed in Note 2, Summary of significant accounting policies, in its Annual Report on Form 10-K, filed with the SEC on March 12, 2024, for the year ended December 31, 2023.
Recently issued accounting standards	Recently issued accounting standards From time to time, new accounting pronouncements are issued by FASB that the Company adopts as of the specified effective date. The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has the option to not “opt out” of the extended transition related to complying with new or revised accounting standards. This means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company has the option to adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and can do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280)(ASU 2023-07). The guidance improves reportable segment disclosures requirements, primarily through enhanced disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the potential impact of this standard on its consolidated financial statements. The Company has considered all recent accounting pronouncements issued, but not yet effective, and does not expect any to have a material effect on the Company’s condensed consolidated financial statements other than those discussed in its Annual Report on Form 10-K, filed with the SEC on March 12, 2024, for the year ended December 31, 2023.

Revenue from contracts with customers - Schedule of Deferred Revenue from customers (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue from customers as of January 1	$ 1,224	$ 700
Consideration received in the period	1,857	6,676
Revenue from customers recognized in the period	(1,755)	(4,434)
Deferred revenue from customers as of June 30	$ 1,326	$ 2,942

Investments - Summary of Debt Securities Available for Sale Maturity (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Available-for-Sale Securities, Debt Maturities [Abstract]
Available-for-Sale, Amortized Cost, One year or less	$ 49,510,000
Available-for-sale securities, Amortized Cost	49,510,000
Available-for-Sale, Estimated Fair Value, One year or less	49,458,000
Available-for-sale, Estimated Fair Value, Total investments	$ 49,458,000	$ 0

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

Accrued liabilities

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Accrued liabilities

Accrued liabilities consisted of the following (in thousands):


	June 30,		December 31,
	2024		2023
Accrued compensation	$	3,599	$	6,673
Accrued payables		5,758		7,144
Other		2,707		3,025
Total	$	12,064	$	16,842

Property and equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 300	$ 400	$ 538	$ 858

Property and equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total, at cost	$ 14,089	$ 14,014
Accumulated depreciation	(11,292)	(10,755)
Total, net	2,797	3,259
Leasehold improvements [Member]
Property Plant And Equipment [Line Items]
Total, at cost	6,101	6,101
Lab equipment [Member]
Property Plant And Equipment [Line Items]
Total, at cost	5,905	5,830
Computer equipment [Member]
Property Plant And Equipment [Line Items]
Total, at cost	1,051	1,051
Furniture and office equipment [Member]
Property Plant And Equipment [Line Items]
Total, at cost	732	732
Vehicles and equipment [Member]
Property Plant And Equipment [Line Items]
Total, at cost	296	296
Asset under construction [Member]
Property Plant And Equipment [Line Items]
Total, at cost	$ 4	$ 4

Common Warrants and Pre Funded Warrants - Summary of Common Warrant Shares Outstanding (Details) - October 2023 Securities Purchase Agreement	6 Months Ended
	Jun. 30, 2024 shares
Class of Warrant or Right [Line Items]
Beginning balance, shares	56,241,973
Issued	0
Exercised	0
Ending balance, shares	56,241,973
Exercisable at June 30, 2024	56,241,973

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	520,000,000	320,000,000
Common Stock, Shares, Issued	79,785,898	75,096,906
Common Stock, Shares, Outstanding	79,785,898	75,096,906

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net Income (Loss)	$ (29,802)	$ (41,746)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discount on investments	(936)	(424)
Amortization of right of use assets	746	755
Impairment of right of use assets		724
Changes in fair value of the warrants	(16,106)
Depreciation expense	538	858
Stock-based compensation including ESPP	4,704	6,860
Changes in operating assets and liabilities:
Other assets	342	4,251
Accounts payable	4,302	(1,496)
Accrued liabilities	(4,778)	(2,202)
Operating lease liabilities	(1,267)	(1,184)
Deferred revenue from collaborations	(84)	(4,640)
Deferred revenue from customers	102	2,241
Net cash and cash equivalents used in operating activities	(42,239)	(36,003)
Activities in available-for-sale investments:
Maturities of short-term investments	40,000	45,000
Purchase of short-term investments	(88,573)	(10)
Purchases of property and equipment	(76)	7
Net cash and cash equivalents (used in) provided by investing activities	(48,649)	44,997
Cash flows from financing activities:
Payments on finance lease	(35)	(71)
Proceeds from the ESPP purchase	297	461
Proceeds from the exercise of common stock option		23
Net cash and cash equivalents provided by financing activities	262	413
Net (decrease) increase in cash, cash equivalents, and restricted cash	(90,626)	9,407
Cash, cash equivalents, and restricted cash, beginning of period	135,774	81,463
Cash, cash equivalents, and restricted cash, end of period	45,148	90,870
Reconciliation to amounts on the Consolidated Balance Sheet:
Cash and cash equivalents	45,078	90,828
Restricted cash	70	42
Cash, cash equivalents, and restricted cash, end of period	45,148	90,870
Supplemental disclosures of noncash financing and investing activities:
Mark to market adjustment for available-for-sale investments	(51)	96
Acquisition of right of use asset through operating lease obligation		1,094
Vesting of early exercised options	$ 0	$ 41

Property and equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and equipment

The components of property and equipment as of June 30, 2024 and December 31, 2023 were as follows (in thousands):


	June 30, 2024			December 31, 2023
Leasehold improvements	$	6,101		$	6,101
Lab equipment		5,905			5,830
Computer equipment		1,051			1,051
Furniture and office equipment		732			732
Vehicles and equipment		296			296
Asset under construction		4			4
Total, at cost		14,089			14,014
Accumulated depreciation		(11,292	)		(10,755	)
Total, net	$	2,797		$	3,259

Depreciation expense was $0.3 million and $0.5 million, respectively, for the three and six months ended June 30, 2024 and $0.4 million and $0.9 million for the three and six months ended June 30, 2023, respectively. Finance leases are also included in property and equipment as vehicles and lab equipment on the condensed consolidated balance sheets.

Property and equipment (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

The components of property and equipment as of June 30, 2024 and December 31, 2023 were as follows (in thousands):


	June 30, 2024			December 31, 2023
Leasehold improvements	$	6,101		$	6,101
Lab equipment		5,905			5,830
Computer equipment		1,051			1,051
Furniture and office equipment		732			732
Vehicles and equipment		296			296
Asset under construction		4			4
Total, at cost		14,089			14,014
Accumulated depreciation		(11,292	)		(10,755	)
Total, net	$	2,797		$	3,259

Net income (loss) per share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the computation of basic and diluted net income (loss) per share of the Company (in thousands, except share and per share data):


	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2024		2023			2024			2023
Net income (loss)	$	5,061	$	(18,791	)	$	(29,802	)	$	(41,746	)
Weighted average common stock outstanding		156,444,408		43,215,478			156,299,282			43,063,615
Common shares issuable		203,509		-			-			-
Weighted average common stock outstanding, assuming dilution		156,647,917		43,215,478			156,299,282			43,063,615
Net income (loss) per share - basic	$	0.03	$	(0.43	)	$	(0.19	)	$	(0.97	)
Net income (loss) per share - diluted	$	0.03	$	(0.43	)	$	(0.19	)	$	(0.97	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The Company excluded the following potential shares of Common Stock, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share for the periods indicated because including them would have had an anti-dilutive effect:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Options to purchase common stock		9,798,963		10,506,661		10,041,963		10,506,661
Unvested restricted stock		40,405		-		154,580		-
Warrants to purchase common stock		56,241,973		-		56,241,973		-
		66,081,341		10,506,661		66,438,516		10,506,661

Common Warrants and Pre Funded Warrants - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Oct. 31, 2023	Jun. 30, 2024	Dec. 31, 2023
Class of Warrant or Right [Line Items]
Shares issued (in Shares)	31,429,266	79,785,898	75,096,906
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Gross Proceeds	$ 92.1
Net proceeds	$ 86.2
2023 Pre-Funded Warrants
Class of Warrant or Right [Line Items]
Number of prefunded warrants to be issued	81,054,686
Exercise price of warrant per share	$ 0.0001
Price per share of warrants	$ 0.7568
Common Warrants
Class of Warrant or Right [Line Items]
Warrants to purchase common stock	56,241,973
Warrant expiration date	Oct. 25, 2030
Exercise price of warrant per share	$ 0.7568

Common Warrants and Pre Funded Warrants

6 Months Ended

Jun. 30, 2024

Warrants and Rights Note Disclosure [Abstract]

Common Warrants and Pre Funded Warrants

Common Warrants and Pre-Funded Warrants

In October 2023, the Company completed a private investment in public equity (PIPE) offering and entered into a securities purchase agreement (the Securities Purchase Agreement) with certain institutional and accredited investors, pursuant to which the Company agreed to offer, issue and sell to these investors 31,429,266 shares of common stock, par value $0.0001 per share (the Common Stock), pre-funded warrants to purchase an aggregate of 81,054,686 shares of Common Stock (the Pre-Funded Warrants), and warrants to purchase an aggregate of 56,241,973 shares of Common Stock (the Common Warrants, and together with the Pre-Funded Warrants, the Warrants). Each Pre-Funded Warrant has an exercise price of $0.0001 per share of common stock, was immediately exercisable and is exercisable until exercised in full. Each accompanying Common Warrant has an exercise price of

$0.7568 per share of common stock, is immediately exercisable and will expire on October 25, 2030. The closing of the offering occurred on October 25, 2023. The Company received gross proceeds of $92.1 million, and after deducting the placement agent fees and expenses and offering costs, net proceeds were $86.2 million.

The Company measured the fair value of the Common Stock and the Pre-Funded Warrants based on the $0.7568 per share purchase price stated in the Securities Purchase Agreement. The Company measured the fair value of the Common Warrants using the Black-Scholes option pricing model.

The Company used the with-and-without method to allocate the net proceeds received from the sale of the Common Stock, the Pre-Funded Warrants, and the Common Warrants on the Consolidated Balance Sheets as follows:


	As of October 25, 2023

Common Stock	$	18,641
Pre-Funded Warrants		48,079
Common Warrants		25,427
Total	$	92,147

The following table summarizes information about shares issuable under the Pre-Funded Warrants outstanding at June 30, 2024:


	Pre-funded warrant shares outstanding

Outstanding at January 1, 2024		81,054,686
Issued		-
Exercised		(4,125,531	)
Outstanding at June 30, 2024		76,929,155
Exercisable at June 30, 2024		76,929,155

The following table sets forth a summary of the activities of the Company’s warrant liability, which represents a recurring measurement that is classified with Level 3 of the fair value hierarchy wherein the fair value is estimated using significant unobservable inputs:


	Common warrant liability

Beginning liability as of January 1, 2024	$	27,596
Common warrants issued		-
Change in fair value of liability		(16,106	)
Ending liability as of June 30, 2024	$	11,490

The fair value of the Common Warrants was measured using the Black Scholes option pricing model and will be remeasured each reporting period, and the change in fair value will be recorded in earnings. The assumptions that the Company used to determine the fair value at issuance and the reporting date of the Common Warrants granted to participants were as follows:


	June 30, 2024			December 31, 2023

Expected term (in years)		6.33			6.83
Risk-free interest rate		4.27	%		3.88	%
Dividend yield		-			-
Volatility		77.54	%		82.80	%

The following table summarizes information about shares issuable under the Common Warrants outstanding at June 30, 2024:


	Common warrant shares outstanding

Outstanding at January 1, 2024		56,241,973
Issued		-
Exercised		-
Outstanding at June 30, 2024		56,241,973
Exercisable at June 30, 2024		56,241,973

Income taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Taxes [Line Items]
Income tax expense	$ 189,000	$ 757,000	$ 213,000	$ 796,000
BELGIUM
Income Taxes [Line Items]
Income tax expense			$ 213,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Income taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income taxes

13.

Income taxes

The Company recorded income tax expense of $213.0 thousand for the six months ended June 30, 2024, primarily related to the Company's international operations.

The Company has a history of losses in prior fiscal years and projects losses for the full year 2024. The Company continues to maintain a full valuation allowance on its net deferred tax assets.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
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+ Details

Stock-based Compensation - Summary of Stock Based Compensation Expense Was Allocated (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share Based Compensation Expense	$ 2,056	$ 3,197	$ 4,704	$ 6,860
Research and Development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share Based Compensation Expense	1,194	1,572	2,634	3,743
General and Administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share Based Compensation Expense	$ 862	$ 1,625	$ 2,070	$ 3,117

License and Collaboration Agreements (Tables)

6 Months Ended

Jun. 30, 2024

License And Collaboration Agreements [Abstract]

Schedule of Deferred Revenue from Collaborative Arrangements

Changes in deferred revenue balances arose as a result of the Company recognizing the following revenue from collaborative arrangements during the periods below (in thousands):


	As of June 30,
	2024			2023

Deferred revenue from collaborations as of January 1	$	84		$	8,743
Consideration received in the period		208			535
Revenue from collaborations recognized in the period		(292	)		(5,175	)
Deferred revenue from collaborations as of June 30	-			$	4,103

Government Grants

reapplication and approval by the NIH. In 2023, the approved grant awarded was an additional $1.4 million. In 2024, the approved grant awarded was an additional $1.5 million.

Common Warrants and Pre Funded Warrants - Summary of Net Proceeds Received from Sale of Common Stock, Pre-Funded Warrants and Common Warrants (Details) - USD ($) $ in Thousands		1 Months Ended
	Oct. 25, 2023	Oct. 31, 2023
Class of Warrant or Right [Line Items]
Common Warrants		$ 86,200
October 2023 Securities Purchase Agreement
Class of Warrant or Right [Line Items]
Common Stock	$ 18,641
Pre-Funded Warrants	48,079
Common Warrants	25,427
Total	$ 92,147

Stock-based compensation (Tables)

6 Months Ended

Jun. 30, 2024

Summary of Stock Options

Stock option activity during the six months ended June 30, 2024 is as follows:


	Shares subject to options			Weighted- average exercise price		Weighted- average remaining contractual term (years)		Aggregate Intrinsic Value (in thousands)

Outstanding as of January 1, 2024		10,376,838		$	6.38	6.9		$	—
Granted		3,183,515			1.03
Replacement options from Exchange		1,906,153			0.96
Exercised		—			—				—
Forfeited or Expired		(1,544,211	)		6.73
Cancelled options from Exchange		(3,880,332	)		10.43
Outstanding as of June 30, 2024		10,041,963			2.04		8.20		—
Options vested and expected to vest as of June 30, 2024		10,041,963			2.04		8.20		—
Options vested and exercisable as of June 30, 2024		3,436,608			3.70		5.97		—

Summary of Stock Based Compensation Expense Was Allocated

Stock-based compensation expense was allocated as follows for the three and six months ended June 30, 2024 and 2023 (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Research and development	$	1,194	$	1,572	$	2,634	$	3,743
General and administrative		862		1,625		2,070		3,117
Total	$	2,056	$	3,197	$	4,704	$	6,860

Restricted Stock [Member]

Summary of Stock Options

Restricted stock activity during the six months ended June 30, 2024 is as follows:


	Number of Awards				Weighted- Average Grant Date Fair Value		Aggregate Fair Value (in thousands)

Issued and unvested as of January 1, 2024		134,120		$		0.84	$	113
Restricted stock awards granted		22,950				1.13		26
Restricted stock awards vested		(2,490	)			0.84		(2	)
Issued and unvested as of June 30, 2024		154,580		$		0.88	$	137

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Organization - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Nature Of Operations [Line Items]
Accumulated deficit	$ 516,599	$ 486,797
Unrestricted cash, Cash equivalent and investment	$ 94,500

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Fair value

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair value

Certain assets and liabilities of the Company are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for 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 on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The following tables present the fair value of the Company’s financial instruments that are measured or disclosed at fair value on a recurring basis (in thousands):


	Fair Value Measurements as of June 30, 2024
	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	45,078	$	-	$	-
Available for sale securities		49,458		-		-
Liabilities:
Warrant liability		-		-		(11,490	)
	$	94,536	$	-	$	(11,490	)

	Fair Value Measurements as of December 31, 2023
	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	135,704	$	-	$	-
Liabilities:
Warrant liability		-		-		(27,596	)
	$	135,704	$	-	$	(27,596	)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 107
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+ Details

Net income (loss) per share - Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	66,081,341	10,506,661	66,438,516	10,506,661
Options to purchase common stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	9,798,963	10,506,661	10,041,963	10,506,661
Unvested restricted stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	40,405	0	154,580	0
Warrants to purchase common stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	56,241,973	0	56,241,973	0

Derivative liabilities and redeemable convertible preferred stock liability - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Derivative Liabilities And Convertible Preferred Stock Liability [Line Items]
Changes in fair value of the warrants	$ (16,106)

Accrued liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued compensation	$ 3,599	$ 6,673
Accrued payables	5,758	7,144
Other	2,707	3,025
Total	$ 12,064	$ 16,842

Common Warrants and Pre Funded Warrants (Tables)

6 Months Ended

Jun. 30, 2024

Class of Warrant or Right [Line Items]

Summary of Net Proceeds Received from Sale of Common Stock, Pre-Funded Warrants and Common Warrants


	As of October 25, 2023

Common Stock	$	18,641
Pre-Funded Warrants		48,079
Common Warrants		25,427
Total	$	92,147

Summary of Pre-funded Warrant Shares Outstanding

The following table summarizes information about shares issuable under the Pre-Funded Warrants outstanding at June 30, 2024:


	Pre-funded warrant shares outstanding

Outstanding at January 1, 2024		81,054,686
Issued		-
Exercised		(4,125,531	)
Outstanding at June 30, 2024		76,929,155
Exercisable at June 30, 2024		76,929,155

Summary of Common Warrant Liability


	Common warrant liability

Beginning liability as of January 1, 2024	$	27,596
Common warrants issued		-
Change in fair value of liability		(16,106	)
Ending liability as of June 30, 2024	$	11,490

Summary of Common Warrant Shares Outstanding

The following table summarizes information about shares issuable under the Common Warrants outstanding at June 30, 2024:


	Common warrant shares outstanding

Outstanding at January 1, 2024		56,241,973
Issued		-
Exercised		-
Outstanding at June 30, 2024		56,241,973
Exercisable at June 30, 2024		56,241,973

Common Warrants [Member]

Class of Warrant or Right [Line Items]

Summary of Assumptions Used to Determine the fair value at Issuance and Reporting Date of Common Warrants Granted

The assumptions that the Company used to determine the fair value at issuance and the reporting date of the Common Warrants granted to participants were as follows:


	June 30, 2024			December 31, 2023

Expected term (in years)		6.33			6.83
Risk-free interest rate		4.27	%		3.88	%
Dividend yield		-			-
Volatility		77.54	%		82.80	%

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue from collaborations		$ 2,592	$ 292	$ 5,175
Revenue from customers	$ 1,061	4,294	1,755	4,434
Operating expenses:
Research and development	21,099	16,781	37,464	34,916
General and administrative	6,376	9,246	13,043	17,752
Total operating expenses	27,475	26,027	50,507	52,668
Loss from operations	(26,414)	(19,141)	(48,460)	(43,059)
Interest and other income, net	31,664	1,107	18,871	2,109
Income (loss) before income tax expense	5,250	(18,034)	(29,589)	(40,950)
Income tax expense	(189)	(757)	(213)	(796)
Net income (loss)	5,061	(18,791)	(29,802)	(41,746)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities	18	(2)	(51)	96
Other comprehensive income (loss)	18	(2)	(51)	96
Comprehensive income (loss)	$ 5,079	$ (18,793)	$ (29,853)	$ (41,650)
Net income (loss) per share, basic	$ 0.03	$ (0.43)	$ (0.19)	$ (0.97)
Net income (loss) per share, diluted	$ 0.03	$ (0.43)	$ (0.19)	$ (0.97)
Weighted average shares of common stock, basic	156,444,408	43,215,478	156,299,282	43,063,615
Weighted average shares of common stock, diluted	156,647,917	43,215,478	156,299,282	43,063,615

Common Warrants and Pre Funded Warrants - Summary of Common Warrant Liability (Details) - October 2023 Securities Purchase Agreement - Level 3 [Member]	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Class of Warrant or Right [Line Items]
Beginning liability as of January 1, 2024	$ 27,596
Change in fair value of liability \| shares	(16,106)
Ending liability as of June 30, 2024	$ 11,490

License and collaboration agreements - Additional Information (Detail) - USD ($)		1 Months Ended					3 Months Ended			6 Months Ended		11 Months Ended	12 Months Ended
	Jun. 25, 2020	Mar. 31, 2024	Jan. 31, 2022	Dec. 31, 2020	Jun. 30, 2020	Apr. 30, 2020	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2019	Dec. 19, 2018	Jun. 30, 2018
Revenue recognized from collaborative arrangements							$ 0		$ 0
Revenue recognized from collaborative arrangements on upfront payment										$ (292,000)	$ (5,175,000)
KU Leuven [Member]
Collaboration expire period	2 years 6 months
Katholieke Universiteit Leuven [Member]
Payments for royalties and milestones							0			$ 0
Emory license agreement [Member] \| Emory university [Member]
Non-refundable payment					$ 200,000
Long term purchase commitment additional obligation to be paid					35,000
Long term purchase commitment period description										The research plan was set to terminate one year from the effective date of June 2020 but the Company exercised its option to extend it for a second year
Royalties or milestones payments made							0		0	$ 0	0
Payments for royalties							0		0	0	0
Expense or accruals recognized related to royalties							0		0	0	0
Emory license agreement [Member] \| Emory university [Member] \| Maximum [Member]
Funding related to collaboration agreement extension					$ 300,000
Aggregate payments																	$ 125,000,000.0
Luxna license agreement [Member] \| Luxna biotech Co Ltd [Member]
Royalties or milestones payments made							0		0	0	0
Payments for royalties							0		0	$ 0	0
Luxna license agreement [Member] \| Luxna biotech Co Ltd [Member] \| Maximum [Member]
Aggregate payments																$ 55,500,000
Katholieke Universiteit Leuven License Agreement [Member] \| Katholieke Universiteit Leuven [Member]
Non-refundable payment	$ 30,000,000.0
Long term purchase commitment period description										Unless terminated earlier by either party, the agreement shall continue until the expiration of the last to expire royalty term, which is the later of the expiration or termination of the last valid patent claim covering the manufacture, use, sale or importation of the licensed product in a particular country or 10 years after the first commercial sale of a licensed product.
First commercial sale of a licensed product period	10 years
Katholieke Universiteit Leuven License Agreement [Member] \| Katholieke Universiteit Leuven [Member] \| Maximum [Member]
Non-refundable payment	$ 32,000,000.0
Merck License and Research Collaboration \| Merck
Upfront payment received			$ 15,000,000	$ 12,000,000
Merck License and Research Collaboration \| Merck \| Maximum [Member]
Milestone payments and royalties receivable			$ 460,000,000	$ 458,000,000
Merck License and Research Collaboration First Amendment [Member] \| Merck
Revenue recognized from collaborative arrangements							0		0	$ 0	$ 0
Revenue recognized from collaborative arrangements on upfront payment							$ 300,000		$ 5,200,000
Research and Development [Member] \| Luxna license agreement [Member] \| Luxna biotech Co Ltd [Member]
Upfront license fees paid												$ 600,000			$ 600,000
Non-refundable payment						$ 200,000
Grant by the National Institute of Health (NIH) for Research to Target Coronaviruses
Government grants / contract awarded										$ 1,500,000			$ 1,400,000	$ 1,100,000
Grant by the National Institute of Allergies and Infectious Diseases (NIAID) for Research to Target Coronaviruses
Government grants / contract awarded		$ 1,300,000						$ 9,800,000					$ 8,500,000
Government contract end year								2026

Stock-based Compensation - Summary of Stock Options (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Employee Stock Option [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of options - Beginning balance	10,376,838
Number of options, Granted	3,183,515
Number of options, Replacement options from Exchange	1,906,153
Number of options, Forfeited or Expired	(1,544,211)
Number of options, Cancelled options from Exchange	(3,880,332)
Number of options - Ending balance	10,041,963	10,376,838
Number of options vested and expected to vest	10,041,963
Number of options vested and exercisable	3,436,608
Weighted average exercise price - Beginning balance	$ 6.38
Weighted average exercise price Granted	1.03
Weighted average exercise price Replacement options from Exchange	0.96
Weighted average exercise price Forfeited or Expired	6.73
Weighted average exercise price Cancelled options from Exchange	10.43
Weighted Average Exercise Price - Ending balance	2.04	$ 6.38
Weighted average exercise price Options vested and expected to vest	2.04
Weighted average exercise price options vested and exercisable	$ 3.7
Weighted- Average Remaining Contractual Term, Outstanding	8 years 2 months 12 days	6 years 10 months 24 days
Weighted- Average Remaining Contractual Term, Options vested and expected to vest	8 years 2 months 12 days
Weighted- Average Remaining Contractual Term, Options vested and exercisable	5 years 11 months 19 days
Restricted Stock [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of awards - Beginning balance	134,120
Number of awards, granted	22,950
Number of awards, vested	(2,490)
Number of awards - Ending balance	154,580	134,120
Weighted average granted fair date value - Beginning balance	$ 0.84
Weighted average granted fair date value, granted	1.13
Weighted average granted fair date value, vested	0.84
Weighted average granted fair date value - Ending balance	$ 0.88	$ 0.84
Aggregate intrinsic value - Beginning	$ 113
Aggregate intrinsic value, Granted	26
Aggregate intrinsic value, Vested	(2)
Aggregate intrinsic value - Ending balance	$ 137	$ 113