0001549595-23-000021 | 10-K | XBRL Viewer

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Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Nov. 30, 2022	Jan. 31, 2023	May 31, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Nov. 30, 2022
Current Fiscal Year End Date	--11-30
Document Transition Report	false
Entity File Number	001-39398
Entity Registrant Name	NURIX THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0838048
Entity Address, Address Line One	1700 Owens Street
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94158
City Area Code	415
Local Phone Number	660-5320
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	NRIX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Entity Public Float			$ 443.5
Entity Common Stock, Shares Outstanding		47,273,098
Documents Incorporated by Reference	Certain sections of the Registrant’s definitive Proxy Statement to be filed in connection with the Registrant’s 2023 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such definitive Proxy Statement will be filed with the Securities and Exchange Commission pursuant to Regulation 14A within 120 days of the Registrant’s fiscal year ended November 30, 2022.
Entity Central Index Key	0001549595
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information	12 Months Ended
Audit Information	Nov. 30, 2022
Audit Information [Abstract]
Auditor name	PricewaterhouseCoopers LLP
Auditor location	San Jose, California
Auditor firm ID	238

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 30, 2022	Nov. 30, 2021
Current assets:
Cash and cash equivalents	$ 64,474	$ 80,506
Marketable securities, current	244,667	215,214
Accounts receivable	0	6,000
Income tax receivable	0	204
Prepaid expenses and other current assets	9,308	9,194
Total current assets	318,449	311,118
Marketable securities, non-current	63,879	137,189
Operating lease right-of-use assets	12,345	14,005
Property and equipment, net	17,163	11,340
Restricted cash	901	286
Other assets	4,022	2,833
Total assets	416,759	476,771
Current liabilities:
Accounts payable	5,064	6,650
Accrued expenses and other current liabilities	22,428	14,549
Operating lease liabilities, current	5,530	3,847
Deferred revenue, current	37,633	41,212
Total current liabilities	70,655	66,258
Operating lease liabilities, net of current portion	6,434	9,189
Deferred revenue, net of current portion	35,974	59,022
Total liabilities	113,063	134,469
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock, $0.001 par value— 10,000,000 shares authorized as of November 30, 2022 and 2021; 0 shares issued and outstanding as of November 30, 2022 and 2021	0	0
Common stock, $0.001 par value— 500,000,000 shares authorized as of November 30, 2022 and 2021; 47,172,299 and 44,664,371 shares issued and outstanding as of November 30, 2022 and 2021, respectively	47	45
Additional paid-in capital	709,220	563,757
Accumulated other comprehensive loss	(4,319)	(608)
Accumulated deficit	(401,252)	(220,892)
Total stockholders’ equity	303,696	342,302
Total liabilities and stockholders’ equity	$ 416,759	$ 476,771

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Nov. 30, 2022	Nov. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
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 (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock (in shares)	47,172,299	44,664,371
Common stock, shares outstanding	47,172,299	44,664,371

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Income Statement [Abstract]
Collaboration revenue	$ 38,627	$ 29,750
Operating expenses:
Research and development	184,497	116,434
General and administrative	37,997	31,202
Total operating expenses	222,494	147,636
Loss from operations	(183,867)	(117,886)
Interest and other income, net	3,507	823
Loss before income taxes	(180,360)	(117,063)
Provision for income taxes	0	131
Net loss	$ (180,360)	$ (117,194)
Net loss per share, basic (in USD per share)	$ (3.71)	$ (2.73)
Net loss per share, diluted (in USD per share)	$ (3.71)	$ (2.73)
Weighted-average number of shares outstanding, diluted (in shares)	48,607,990	42,895,383
Weighted average number of shares outstanding, basic (in shares)	48,607,990	42,895,383

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Statement of Other Comprehensive Income [Abstract]
Net loss	$ (180,360)	$ (117,194)
Other comprehensive loss, net of tax:
Unrealized loss on available-for-sale marketable securities	(3,711)	(695)
Total comprehensive loss	$ (184,071)	$ (117,889)

- Definition

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

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit
Beginning Balance (in shares) at Nov. 30, 2020		38,864,872
Beginning Balance at Nov. 30, 2020	$ 290,269	$ 39	$ 393,841	$ 87	$ (103,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		5,175,000
Issuance of common stock	150,157	$ 5	150,152
Exercise of stock options (in shares)		522,006
Exercise of stock options	1,666	$ 1	1,665
Repurchase of unvested early exercised stock options (in shares)		(971)
Repurchase of unvested early exercised stock options	0
Vesting of early exercised stock options	239		239
Issuance under employee stock purchase plan (in shares)		103,464
Issuance under employee stock purchase plan	2,060		2,060
Stock-based compensation	15,800		15,800
Unrealized loss on available-for-sale marketable securities	(695)			(695)
Net loss	(117,194)				(117,194)
Ending Balance (in shares) at Nov. 30, 2021		44,664,371
Ending Balance at Nov. 30, 2021	342,302	$ 45	563,757	(608)	(220,892)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		2,000,000
Issuance of common stock	19,328	$ 2	19,326
Issuance of pre-funded warrants, net of issuance costs of $234	94,759		94,759
Exercise of stock options (in shares)		325,596
Exercise of stock options	1,078		1,078
Vesting of restricted stock units (in shares)		46,028
Vesting of restricted stock units	0
Vesting of early exercised stock options	145		145
Issuance under employee stock purchase plan (in shares)		136,304
Issuance under employee stock purchase plan	1,955		1,955
Stock-based compensation	28,200		28,200
Unrealized loss on available-for-sale marketable securities	(3,711)			(3,711)
Net loss	(180,360)				(180,360)
Ending Balance (in shares) at Nov. 30, 2022		47,172,299
Ending Balance at Nov. 30, 2022	$ 303,696	$ 47	$ 709,220	$ (4,319)	$ (401,252)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - Common stock - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Issuance / offering costs	$ 672	$ 643
IPO
Issuance of pre-funded warrants	$ 234

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Cash flows from operating activities
Net loss	$ (180,360)	$ (117,194)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,349	2,790
Stock-based compensation	28,131	15,800
Net amortization of premium on marketable securities	426	1,706
Loss on disposal of property and equipment	9	128
Amortization of operating lease right-of-use assets	5,459	3,292
Other	201	0
Changes in operating assets and liabilities:
Accounts receivable	6,000	(6,000)
Income tax receivable	0	3,642
Prepaid expenses and other assets	(1,094)	(5,442)
Accounts payable	85	1,589
Deferred revenue	(26,627)	14,250
Operating lease liabilities	(4,871)	(5,144)
Accrued expenses and other liabilities	7,485	6,218
Net cash used in operating activities	(159,807)	(84,365)
Cash flows from investing activities
Purchases of marketable securities	(239,366)	(348,497)
Sales of marketable securities	0	6,994
Maturities of marketable securities	278,808	238,913
Purchases of property and equipment	(12,244)	(5,661)
Net cash provided by (used in) investing activities	27,198	(108,251)
Cash flows from financing activities
Proceeds from issuances of pre-funded warrants, net of issuance costs	94,759	0
Proceeds from issuance of common stock	19,400	150,157
Proceeds from exercise of stock options	1,078	1,666
Proceeds from issuance under employee stock purchase plan	1,955	2,060
Repurchase of unvested early exercised stock options	0	(1)
Net cash provided by financing activities	117,192	153,882
Net decrease in cash, cash equivalents and restricted cash	(15,417)	(38,734)
Cash, cash equivalents and restricted cash at beginning of period	80,792	119,526
Cash, cash equivalents and restricted cash at end of period	65,375	80,792
Supplementary disclosures of cash flow information:
Cash paid for income taxes	0	481
Supplemental disclosures of non-cash investing and financing activities:
Additions to property and equipment included in accounts payable and accrued expenses and other liabilities	1,373	2,505
Capitalized stock-based compensation related to internal-use software development	69	0
Vesting of early exercised stock options	145	239
Deferred issuance costs recognized related to equity financing	72	0
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	64,474	80,506
Restricted cash	901	286
Cash, cash equivalents and restricted cash	$ 65,375	$ 80,792

Organization	12 Months Ended
Organization	Nov. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Description of Business Nurix Therapeutics, Inc. (the Company), was incorporated in the state of Delaware on August 27, 2009 and is headquartered in San Francisco, California. The Company is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of small molecule and cell therapies based on the modulation of cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging the Company’s expertise in E3 ligases together with its proprietary DNA-encoded libraries, the Company has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. The Company’s drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin-proteasome system to selectively decrease or increase cellular protein levels. The Company’s wholly owned, clinical stage pipeline includes targeted protein degraders of Bruton’s tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. The Company’s partnered drug discovery pipeline consists of ten programs under collaboration agreements with Sanofi S.A. (Sanofi) and Gilead Sciences, Inc. (Gilead), within which the Company retains options for co-development and co-commercialization rights in the United States for up to four drug candidates. Initial Public Offering On July 23, 2020, the Company’s registration statement on Form S-1 (File No. 333-239651) relating to its initial public offering (IPO) of common stock became effective. The IPO closed on July 28, 2020, at which time the Company issued 11,000,000 shares of its common stock at a price to the public of $19.00 per share. In addition, the underwriters exercised their option to purchase an additional 1,550,000 shares of the Company’s common stock on July 31, 2020, and this transaction closed on August 4, 2020. Net proceeds from the IPO were $218.1 million, after deducting underwriting discounts and commissions of $16.7 million and expenses of $3.6 million. Follow-on Offering In March 2021, the Company completed a follow-on offering and issued 5,175,000 shares of common stock (including the exercise by the underwriters of their option to purchase an additional 675,000 shares of common stock) at a price to the public of $31.00 per share for net proceeds of $150.2 million, after deducting underwriting discounts and commissions of $9.6 million and expenses of $0.6 million. Equity Distribution Agreement In August 2021, the Company filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) which was amended in February 2023. This shelf registration statement, which includes a base prospectus, allows the Company at any time to offer and sell up to $450.0 million of the Company’s registered common stock, preferred stock, debt securities, warrants, subscriptions rights and or units or any combination of securities described in the prospectus in one or more offerings. In addition, in August 2021, the Company entered into an Equity Distribution Agreement with Piper Sandler & Co. (Piper Sandler) pursuant to which, from time to time, the Company may offer and sell through Piper Sandler up to $150.0 million of the common stock registered under the shelf registration statement pursuant to one or more “at the market” offerings. The Company is not required to sell any shares at any time during the term of the Equity Distribution Agreement. The Company agreed to pay Piper Sandler a commission of 3% of the gross sales price of any shares sold pursuant to the Equity Distribution Agreement. In June 2022, the Company issued and sold 2,000,000 shares of common stock under the Equity Distribution Agreement at a price of $10.0001 per share of common stock for net proceeds of approximately $19.3 million, after deducting offering commissions and expenses paid by the Company. As of November 30, 2022, the Company had $130.0 million of common stock remaining available for sale under the Equity Distribution Agreement. Registered Direct Offerings In July 2022, the Company entered into separate securities purchase agreements with certain purchasers to issue and sell pre‑funded warrants to purchase an aggregate of 6,814,920 shares of the Company’s common stock in registered direct offerings (RDOs) at a price of $13.939 per pre-funded warrant. Net proceeds from the RDOs were approximately $94.8 million, after deducting offering expenses of $0.2 million. Refer to Note 7 for more information regarding the pre-funded warrants issued in the RDOs. Liquidity and Management Plans The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of November 30, 2022, the Company had cash, cash equivalents and short-term marketable securities of $309.1 million, working capital of $247.8 million and an accumulated deficit of $401.3 million. The Company’s operations have historically been financed through the issuance of common stock, redeemable convertible preferred stock and pre-funded warrants and proceeds received under the Company’s collaboration and license agreements. Since inception, the Company has generally incurred significant losses and negative net cash flows from operations. The Company does not expect its existing cash, cash equivalents and marketable securities to be sufficient to fund the completion of its clinical trials through commercialization and will need substantial additional funding to support its continuing operations and pursue its long-term business plan. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its drug candidates currently in development. Management believes that its cash, cash equivalents and short-term marketable securities are sufficient to continue operating activities for at least 12 months following the issuance date of these consolidated financial statements. Future capital requirements will depend on many factors, including the timing and extent of spending on research and development and payments the Company may receive under its collaboration agreements with Sanofi and Gilead or future collaboration agreements, if any. There can be no assurance that, in the event the Company requires additional financing, such financing will be available at terms acceptable to the Company if at all. If additional capital is not available, failure to generate sufficient cash flows from operations, raise additional capital and reduce discretionary spending could have a material adverse effect on the Company’s ability to achieve its intended business objectives.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Nov. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and include the accounts of the Company and its wholly owned subsidiaries, including DeCART Therapeutics Inc., which was legally dissolved in July 2022. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified for consistency with the current year cash flow presentation. The reclassification did not impact total cash flow from operating, investing or financing activities. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to the useful lives of long-lived assets, the measurement of stock-based compensation, accruals for research and development activities, income taxes and revenue recognition. The Company bases its estimates on historical experience and on other relevant assumptions that are reasonable under the circumstances. Actual results could materially differ from those estimates. Refer to Note 3 for more information regarding the estimates related to revenue recognition. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents and marketable securities. The Company’s marketable securities consist of debt securities issued by highly rated corporate entities, the U.S. federal government or state and local governments. The Company’s exposure to any individual corporate entity is limited by policy. Deposits may, at times, exceed federally insured limits. The Company invests its cash equivalents in highly rated money market funds. During the periods presented, the Company has not experienced any losses on its deposits of cash, cash equivalents or marketable securities. Other Risks and Uncertainties The Company is subject to a number of risks similar to other clinical stage biopharmaceutical companies, including, but not limited to, changes in any of the following areas that the Company believes could have a material adverse effect on its future financial position or results of operations: risks related to the successful discovery and development of its drug candidates, ability to raise additional capital, development of new technological innovations by its competitors and delay or inability to obtain drug substance and finished drug product from the Company’s third-party contract manufacturers necessary for the Company’s drug candidates, including due to the impact of the current coronavirus (COVID-19) pandemic, protection of intellectual property rights, litigation or claims against the Company based on intellectual property rights and regulatory clearance and market acceptance for any of the Company’s products candidates for which the Company receives marketing approval. Moreover, the Company is subject to risks and uncertainties as a result of the current COVID-19 pandemic and increasing financial market volatility and uncertainty. The COVID-19 pandemic, including the resurgence of cases relating to the spread of new variants, continues to impact worldwide economic activity and poses the risk that the Company or its employees, contractors, suppliers and other partners may be prevented from conducting business activities for an indefinite period of time, including due to shutdowns that may be requested or mandated by governmental authorities. The extent to which the COVID-19 pandemic and increasing financial market volatility and uncertainty will impact the Company’s business will depend on future developments that are highly uncertain and cannot be predicted at this time. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The extent to which the COVID-19 pandemic and the increasing financial market volatility and uncertainty may directly or indirectly impact the Company’s financial statements is highly uncertain and subject to change. Management considered the potential impact of the COVID-19 pandemic on its estimates and assumptions and there was not a material impact to the Company’s consolidated financial statements as of and for the year ended November 30, 2022; however, actual results could differ from those estimates and there may be changes to management’s estimates in future periods. The Company relies on single source manufacturers and suppliers for the supply of its drug candidates. Disruption from these manufacturers or suppliers would have a negative impact on the Company’s business, financial position and results of operations. Segments The Company operates and manages its business as one reportable and operating segment. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resources and assess performance. The Company’s CODM is the Chief Executive Officer, who reviews consolidated financial information on a company-wide basis for purposes of allocating resources and assessing financial performance. Cash and Cash Equivalents The Company considers all highly liquid marketable securities with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which consist of money market funds, are stated at fair value. Restricted Cash The Company had $0.9 million and $0.3 million of restricted cash recorded as a non-current asset as of November 30, 2022 and 2021, respectively. Restricted cash as of November 30, 2022 consisted of $0.1 million that serves as collateral for a business credit card account and $0.8 million for letters of credit required under operating leases. Restricted cash as of November 30, 2021 consisted of $0.1 million that serves as collateral for a business credit card account and $0.2 million for a letter of credit required under an operating lease. These balances are included within the cash, cash equivalents and restricted cash balance in the accompanying consolidated statements of cash flows. Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, including cash equivalents, accounts payable and accrued liabilities included in the Company’s consolidated financial statements approximate their fair value due to the nature of the financial instruments. Refer to Note 5 for more information regarding the fair value of the Company’s marketable securities. Marketable Securities Marketable securities consist of money market funds, U.S. Treasuries, corporate debt securities, U.S. government agency securities, corporate commercial paper, foreign government securities and municipal securities. The Company’s marketable securities are classified as available-for-sale and carried at estimated fair values and reported in cash equivalents, short-term marketable securities or long-term marketable securities. Management determines the appropriate classification of the marketable securities at the time they are acquired and evaluates the appropriateness of such classifications at each consolidated balance sheet date. Marketable securities with contractual maturities greater than 12 months are considered long-term marketable securities. The Company regularly reviews its marketable securities for declines in estimated fair value below amortized cost. The factors considered in determining whether a credit loss exists include the creditworthiness of the security issuers, the number of marketable securities in an unrealized loss position, the severity and duration of the unrealized losses, and whether it is more likely than not that the Company will be required to sell the marketable securities before the recovery of their amortized cost basis. The cost of marketable securities sold is based on the specific identification method. In circumstances when an unrealized loss is determined to be credit-related, or when the Company intends to sell or is more likely than not required to sell a security before it recovers its amortized cost basis, the difference between the fair value and the amortized cost of the security is recognized as interest and other income, net in the consolidated statements of operations, and an allowance for credit loss is recorded on the consolidated balance sheet. In circumstances when the decline in fair value is non-credit related, the difference is reported in accumulated other comprehensive income (loss), net of tax as a separate component of stockholders’ equity. Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Major improvements are capitalized, while maintenance and repairs are expensed when incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful life of laboratory equipment, computer equipment, furniture and fixtures and software is generally three years. Tenant improvements are depreciated over the shorter of the lease term or the estimated useful life of the improvements. When assets are retired or disposed of, the cost together with related accumulated depreciation is removed from the Company’s accounts and the resulting gain or loss is reflected in the Company’s consolidated statements of operations. Leases The Company determines if an arrangement contains a lease at inception. Lease right-of-use (ROU) assets, current lease liabilities and long-term lease liabilities are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term at the commencement date. ROU assets also include any initial direct costs incurred and any lease payments made on or before the lease commencement date, less lease incentives received. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the lease liabilities as the Company’s leases generally do not provide an implicit rate. The incremental borrowing rate, the ROU asset and the lease liability are reevaluated upon a lease modification. The Company determines its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Lease terms may include options to extend or terminate the lease when the Company is reasonably certain that the option will be exercised. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company does not have any finance leases. The Company elected to apply each of the practical expedients described in Topic 842 which allow companies (i) not to reassess prior conclusions on whether any expired or existing contracts are or contain a lease, lease classification, and initial direct costs, (ii) combine lease and non-lease components for all underlying assets groups, and (iii) not recognize ROU assets or lease liabilities for short-term leases. A short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. Internal-Use Software Development Costs The Company capitalizes qualifying costs incurred during the application development stage related to software developed for internal-use and amortizes them over the estimated useful life of three years. Amortization of such costs begins when the project is substantially complete and ready for its intended use. Capitalized software development costs are classified as property and equipment, net on the consolidated balance sheet. The Company expenses costs incurred related to the planning and post-implementation phases of development as incurred. Long-Lived Assets Long-lived assets, such as property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. There were no such impairment losses during the years ended November 30, 2022 and 2021. Deferred Offering Costs The Company capitalizes within other assets certain legal, accounting and other third-party fees that are directly related to the Company’s in-process equity financings, including the IPO, until such financings are consummated. After consummation of an equity financing, these costs are recorded in stockholder’s equity as a reduction of additional paid-in capital generated as a result of the offering. Should a planned equity financing be abandoned, terminated or significantly delayed, the deferred offering costs are immediately written off to operating expenses. As of both November 30, 2022 and 2021, there was $0.5 million of deferred offering costs included in other assets on the consolidated balance sheet. Revenue Recognition The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To recognize revenue from a contract with a customer, the Company performs the following five steps: (i)identify the contract(s) with a customer; (ii)identify the performance obligations in the contract; (iii)determine the transaction price; (iv)allocate the transaction price to the performance obligations in the contract; and (v)recognize revenue when (or as) the Company satisfies a performance obligation. At contract inception, the Company assesses the goods or services promised within each contract, whether each promised good or service is distinct, and determines those that are performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. The Company enters into collaboration agreements under which it may obtain upfront payments, milestone payments, royalty payments and other fees. Promises under these arrangements may include research licenses, research services, including selection campaign research services for certain replacement targets, the obligation to share information during the research and the participation of alliance managers and in joint research committees, joint patent committees and joint steering committees. The Company assesses these promises within the context of the agreements to determine the performance obligations. Research and collaboration licenses: If a license is determined to be distinct from the other promises identified in the arrangement, the Company recognizes revenue from upfront payments allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring proportional performance for purposes of recognizing revenue from non-refundable, upfront payments. The Company evaluates the measure of proportional performance each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Milestone payments: At the inception of each arrangement that includes research, development, or regulatory milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price. The Company uses the most likely amount method for research, development and regulatory milestone payments. Under the most likely amount method, an entity considers the single most likely amount in a range of possible consideration amounts. If it is probable that a significant revenue reversal would not occur, the associated milestone amount is included in the transaction price. Sales-based milestones and royalties: For arrangements that include sales-based milestone or royalty payments based on the level of sales, and in which the license is deemed to be the predominant item to which the sales-based milestone or royalties relate to, the Company recognizes revenue in the period in which the sales-based milestone is achieved and in the period in which the sales associated with the royalty occur. To date, the Company has not recognized any sales-based milestone or royalty revenue resulting from its collaboration arrangements. Customer options: Customer options, such as options granted to allow a licensee to extend a license or research term, to select additional research targets or to choose to research, develop and commercialize licensed compounds are evaluated at contract inception to determine whether those options provide a material right (i.e., an optional good or service offered for free or at a discount) to the customer. If the customer options represent a material right, the material right is treated as a separate performance obligation at the outset of the arrangement. The Company allocates the transaction price to material rights based on the standalone selling price. As a practical alternative to estimating the standalone selling price of a material right when the underlying goods or services are both (i) similar to the original goods or services in the contract and (ii) provided in accordance with the terms of the original contract, the Company allocates the total amount of consideration expected to be received from the customer to the total goods or services expected to be provided to the customer. Amounts allocated to any material right are recognized as revenue when or as the related future goods or services are transferred or when the option expires. Deferred revenue, which is a contract liability, represents amounts received by the Company for which the related revenues have not been recognized because one or more of the revenue recognition criteria have not been met. The current portion of deferred revenue represents the amount to be recognized within one year from the consolidated balance sheet date based on the estimated performance period of the underlying performance obligation. The non-current portion of deferred revenue represents amounts to be recognized after one year through the end of the performance period of the performance obligation. All revenue was derived from customers located in the United States during the years ended November 30, 2022 and 2021. Research and Development Expenses The Company expenses all research and development costs as incurred. Research and development costs include, but are not limited to, payroll and personnel expenses, laboratory supplies, preclinical study costs, clinical trial costs, compound manufacturing costs, consulting costs and allocated overhead, including rent, equipment, depreciation and utilities. The Company records accrued expenses for estimated costs of research and development activities conducted by third-party service providers, which include preclinical studies and clinical trials and contract manufacturing activities. The Company records the estimated costs of research and development activities based upon the estimated amount of services provided but not yet invoiced and includes these costs in accrued expenses and other current liabilities on the consolidated balance sheet. The Company estimates the amount of work completed through discussions with internal personnel and external service providers as to the progress or stage of completion of the services and the agreed-upon fee to be paid for such services. The Company makes significant judgments and estimates in determining the accrued balance in each reporting period. As actual costs become known, the Company adjusts its accrued estimates. The Company’s accrued expenses are dependent, in part, upon the receipt of timely and accurate reporting from clinical research organizations and other third-party service providers. The Company records advance payments to service providers as prepaid assets, which are expensed as the contracted services are performed. Stock-Based Compensation The Company accounts for stock-based compensation using a fair value-based method, which requires the recognition of compensation expense for costs related to all stock-based payments including stock options, restricted stock units (RSUs) and purchase rights under the Company’s Employee Stock Purchase Plan (ESPP). The Company estimates the fair value of stock options and purchase rights granted under the ESPP on the date of grant using the Black-Scholes option pricing model, which is impacted by the fair value of the Company’s common stock, as well as changes in assumptions regarding a number of highly complex and subjective variables. The model requires management to make a number of assumptions including expected volatility, expected term, risk-free interest rate and expected dividend yield. Prior to its IPO, the fair value of the Company’s common stock was determined by the Company’s board of directors with assistance from management and an independent third-party valuation firm, using significant judgment and several factors including important developments in the Company’s operations, sales of redeemable convertible preferred stock and the lack of liquidity of the common stock. Subsequent to the IPO, the Company determines the fair value of stock options, RSUs and purchase rights under the ESPP using the market closing price of the Company’s common stock on the date of grant. For stock-based payments with service conditions only, the Company uses the straight-line method to allocate compensation cost to reporting periods over the requisite service period, which is generally the vesting period. Stock-based compensation expense for non-employee stock-based awards is also measured based on the grant date fair value with the estimated fair value expensed over the period for which the non-employee is required to provide service in exchange for the award. For stock-based payments with performance conditions, the Company evaluates the probability of achieving performance conditions at each reporting date. The Company begins to recognize compensation cost using an accelerated attribution method when it is deemed probable that the performance condition will be met. The Company accounts for forfeitures as they occur. Income taxes The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when in management’s estimate, it is more likely than not, that the deferred tax assets will not be recovered. Financial statement effects of uncertain tax positions are recognized when it is more likely than not, based on the technical merits of the position, that it will be sustained upon examination. It is the Company’s policy to include penalties and interest expense related to income taxes as a component of the provision for income taxes. Comprehensive loss Comprehensive loss represents the net loss for the period and other comprehensive income (loss). Other comprehensive income (loss) reflects certain gains and losses that are recorded as a component of stockholders’ equity (deficit) and are not reflected in the consolidated statements of operations. The Company’s other comprehensive income (loss) consists of changes in unrealized gains and losses on available-for-sale marketable securities. Net loss per share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock (including non-voting common stock and pre-funded warrants) outstanding during the period, without consideration for all other common stock equivalents. Shares of common stock into which the pre-funded warrants may be exercised are considered outstanding for the purposes of computing net loss per share because the shares may be issued for little or no consideration, are fully vested and are exercisable after the original issuance date. Diluted net loss is calculated by dividing the net loss by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, options to purchase common stock, options early exercised subject to vesting, RSUs and shares expected to be purchased under the ESPP are considered to be potentially dilutive securities. Diluted net loss per share is the same as basic net loss per share, since the effects of potentially dilutive securities are antidilutive given the net loss for each period presented. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2019‑12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes (ASU 2019-12), which is intended to simplify accounting for income taxes and eliminate certain exceptions from Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also requires the amount of tax that is based on income to be accounted for under Topic 740 as an income-based tax, with any incremental amount accounted for as a non-income-based tax recognized entirely in the period incurred. The Company adopted ASU 2019-12 as of December 1, 2021 using the modified retrospective method, and recognized an immaterial non-income-based tax within operating expenses in the current period. The adoption had no other impact on the Company’s consolidated financial statements.

Collaboration Agreements	12 Months Ended
Collaboration Agreements	Nov. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration Agreements	Collaboration Agreements Gilead In June 2019, the Company entered into a global strategic collaboration agreement with Gilead (as subsequently amended, the Gilead Agreement) to discover, develop and commercialize a pipeline of targeted protein degradation drugs for patients with cancer and other challenging diseases using the Company’s DELigase platform to identify novel agents that utilize E3 ligases to induce degradation of five specified drug targets. In August 2019 and September 2022, the Company entered into the First Amendment and the Second Amendment, respectively, to the Gilead Agreement to clarify certain language of the Gilead Agreement. These amendments had no impact on revenue recognition. Under the Gilead Agreement, Gilead has the option to license drug candidates directed to up to five targets resulting from the collaboration and is responsible for the clinical development and commercialization of drug candidates resulting from the collaboration. The Company retains the option to co-develop and co-promote, under a profit share structure, up to two drug candidates in the United States, provided that the Company may only exercise such option once per licensed product and Gilead retains the right to veto the Company’s option selection for any one drug candidate of its choice. The collaboration excludes the Company’s current internal protein degradation programs for which the Company retains all rights, and also excludes the Company’s future internal programs, provided that the Company has distinguished future programs as excluded from the scope of the collaboration. Over time, Gilead may elect to replace the initial drug targets with other drug targets. For drug targets that are subject to the collaboration, the Company is obligated to use commercially reasonable efforts to undertake a research program in accordance with a research plan agreed to by the parties and established on a target-by-target basis. The Company has primary responsibility under the Gilead Agreement for performing preclinical research activities (including target validation, drug discovery, identification or synthesis) pursuant to a research plan. Each party will bear its own costs in the conduct of research activities. Gilead will be responsible for any development, commercialization and manufacturing activities, unless the Company exercises its co-development and co-promotion option. For those programs that the Company exercises its option to co-develop and co-promote, the Company and Gilead will split U.S. development costs as well as U.S. profits and losses evenly, and the Company will be eligible to receive royalties on net ex-U.S. sales and reduced milestone payments. Upon signing the Gilead Agreement, Gilead paid the Company an upfront payment of $45.0 million plus $3.0 million in additional fees. In addition, from the signing of the Gilead Agreement to November 30, 2022, the Company has received payments of $34.5 million for research milestones and additional payments. As of November 30, 2022, the Company is eligible to receive up to approximately $2.3 billion in total additional payments, including up to $667.5 million upon the achievement of specified development milestones, up to $1.5 billion upon the achievement of specified sales milestones, subject to reduction for any product for which the Company exercises its option to co-develop and co-promote, and up to $136.8 million in certain additional fees related to target licensing, reservation and selection and research term extensions. In addition, the Company is eligible to receive tiered royalties from mid-single digit to low tens percentages on annual net sales from any commercial products directed to the optioned collaboration targets, subject to certain reductions and excluding sales in the United States of any products for which the Company exercises its option to co-develop and co-promote, for which the Company and Gilead share profits and losses evenly. Subject to earlier expiration in certain circumstances, the Gilead Agreement expires on a licensed product-by-licensed product and country-by-country basis upon the later of (1) the expiration of the last to expire patent with a valid claim covering the applicable licensed product in the applicable country, (2) the expiration of any regulatory exclusivity for the applicable licensed product in the applicable country or (3) ten years after the first commercial sale of the applicable licensed product in the applicable country covered by the Gilead Agreement, provided that the term for any profit-shared licensed product in the United States will expire upon the expiration or termination of the applicable profit-share term as set forth in an applicable profit-share agreement to be negotiated upon the Company’s exercise of its option to co-develop and co-promote such licensed product. If Gilead does not exercise an option to license a drug candidate, then the Gilead Agreement will terminate at the end of the last to expire option period. The Company identified the following promises in the Gilead Agreement: (1) the research licenses, (2) the research services, including selection campaign research services for certain replacement targets and (3) the obligation to share information during the research term and to participate in the joint research committee and joint steering committee. The Company determined that the research licenses are not capable of being distinct due to the specialized nature of the research services to be provided by the Company, and, accordingly, this promise was combined with the research services and participation in the joint research committee as one single performance obligation. The Company concluded that, at the inception of the Gilead Agreement, Gilead’s options to obtain an exclusive development, manufacturing and commercialization license for each collaboration target, to extend the five-year research term and to perform selection campaign research services for certain replacement targets do not represent material rights and are not considered performance obligations because they do not contain a significant and incremental discount. The Company concluded that Gilead’s target reservation right is not a performance obligation as it does not require any specific action from the Company and it is rather an exclusivity right and an attribute of other performance obligations in the Gilead Agreement, such as the research licenses. In order to determine the transaction price, the Company evaluated all the payments to be received during the duration of the contract. Certain milestones and additional fees were considered variable consideration, which were not included in the transaction price based on the most likely amount method as of November 30, 2022. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The Company determined that the transaction price at the inception of the Gilead Agreement consists of the upfront payment of $45.0 million and $3.0 million in additional fees. Upon the achievement of research milestones and fees added related to target reservations, $34.5 million in variable consideration was added to the transaction price, and a cumulative effect was recorded as revenue in the period the transaction price increased. The transaction price is recognized as collaboration revenue using the cost-based input method over the estimated contract term of five years. The contract term was determined to be the five-year initial research term which represents the estimated timing of completion of the identified deliverables. Additionally, the Company considered the impact of Gilead terminating the Gilead Agreement prior to the completion of the research services during the initial five-year research term and determined that there were significant economic costs to Gilead for doing so, and as such, did not adjust the contract term. Using the cost-based input method, which the Company determined most faithfully depicts the transfer of its performance obligation to Gilead, the Company recognizes revenue based on actual costs incurred as a percentage of total estimated costs as the Company completes its performance obligation under the contract. Costs consist primarily of internal full-time employee (FTE) and third-party contract costs related to the Gilead Agreement. The cumulative effect of revisions to estimated costs to complete the Company’s performance obligation is recorded in the period in which changes are identified and amounts can be reasonably estimated. Total estimated costs are primarily driven by the number of estimated FTEs, which requires significant management judgment. For the year ended November 30, 2022, the Company recognized collaboration revenue related to the Gilead Agreement of $23.7 million, of which $18.4 million was included in deferred revenue as of November 30, 2021, and $4.0 million was related to performance obligations satisfied in previous periods. For the year ended November 30, 2021, the Company recognized collaboration revenue related to the Gilead Agreement of $16.6 million, of which $11.1 million was included in deferred revenue as of November 30, 2020, and $3.1 million was related to performance obligations satisfied in previous periods. As of November 30, 2022, deferred revenue related to the Gilead Agreement was $27.4 million, of which $18.2 million was current. As of November 30, 2021, deferred revenue related to the Gilead Agreement was $41.1 million, of which $19.9 million was current. Additionally, as of November 30, 2021, $6.0 million was included in accounts receivable which represents the billed revenue related to the research milestone recognized in November 2021. Sanofi In December 2019, the Company entered into a strategic collaboration with Genzyme Corporation, a subsidiary of Sanofi, which became effective in January 2020 (as subsequently expanded and amended, the Sanofi Agreement), to discover, develop and commercialize a pipeline of targeted protein degradation drugs for patients with challenging diseases in multiple therapeutic areas using the Company’s DELigase platform to identify small molecules designed to induce degradation of three specified initial drug targets. In January 2021, as part of the existing collaboration agreement, Sanofi paid the Company $22.0 million to exercise its option to expand the number of targets in the collaboration agreement from three to a total of five targets. In January 2021, the Company and Sanofi entered into the First Amendment to the Sanofi Agreement to modify the research term on all targets (the First Sanofi Amendment). Over time and subject to certain limitations, Sanofi may elect to replace the drug targets with other reserved targets. In December 2021, the Company and Sanofi entered into the Second Amendment to the Sanofi Agreement to extend the substitution deadline on certain targets. In July 2022, the Company entered into the Third Amendment to the Sanofi Agreement to further extend the substitution deadline on certain targets. The extensions of the substitution deadline had no impact on revenue recognition. Also in July 2022, Sanofi elected to replace certain drug targets, and the substitution extended the research term of those targets by one year to 5.25 years and increased overall forecasted costs, which had an immaterial impact on revenue recognition. In August 2022, the Company entered into the Fourth Amendment to the Sanofi Agreement to modify the research plan for a certain target, which had no impact on revenue recognition. Under the Sanofi Agreement, Sanofi has exclusive rights and is responsible for the clinical development, commercialization and manufacture of drug candidates resulting from the collaboration while the Company retains the option to co-develop, co-promote and co-commercialize up to two targets, one of which must be selected from a list of targets designated at the execution of the Sanofi Agreement and one of which must be selected from targets identified by Sanofi in the future. The Company’s right to exercise its option to co-develop, co-promote and co-commercialize a given target is dependent on its ability to demonstrate, within a given timeframe, that it has sufficient cash resources and personnel to commercialize the product. The collaboration excludes the Company’s current internal protein degradation programs for which it retains all rights, and also excludes future internal programs, provided that the Company distinguished future programs as excluded from the scope of the collaboration. For drug targets that are subject to the collaboration, the Company has primary responsibility for conducting preclinical research activities (including target validation, drug discovery, identification or synthesis) in accordance with the applicable research plan agreed to by the parties and established on a target-by-target basis. The Company is obligated to use commercially reasonable efforts to identify relevant target binders and chimeric targeting molecules in order to identify development candidates. Subject to certain exceptions, each party will bear its own costs in the conduct of such research. Sanofi will be responsible for any development and commercialization activities unless the Company exercises its co-development and co-promotion option. For those programs that the Company exercises its option to co-develop, co-promote and co-commercialize, the Company will be responsible for a portion of the U.S. development costs, and the parties will split U.S. profits and losses evenly and the Company will be eligible to receive royalties on ex-U.S. net sales and reduced milestone payments on such optioned products. Upon signing the Sanofi Agreement, Sanofi paid the Company an upfront payment of $55.0 million. Subsequently, in January 2021, Sanofi paid the Company an additional $22.0 million to exercise its option to expand the number of targets beyond the initial targets included in the collaboration. In addition, from the signing of the Sanofi Agreement to November 30, 2022, the Company has received payments of $3.0 million for research milestones. As of November 30, 2022, the Company is eligible to receive up to approximately $2.5 billion in total payments, including payments of up to $496.0 million upon the achievement of specified development milestones, up to $625.0 million upon the achievement of specified regulatory milestones and up to $1.3 billion upon the achievement of certain sales milestones, as well as up to $126.5 million in certain additional fees related to target licensing and reservation. In addition, the Company is eligible to receive tiered royalties ranging from mid-single digit to low teen percentages on annual net sales of any commercial products that may result from the collaboration, subject to certain reductions and excluding sales in the United States of any products for which the Company exercises its option to co-develop and co-promote, for which the parties share profits and losses evenly. Subject to earlier expiration in certain circumstances, the Sanofi Agreement expires on a licensed product-by-licensed product or profit-shared licensed product-by-profit-shared licensed product basis and country-by-country basis upon on the later of the expiration of (i) the last-to-expire patent with a valid claim covering the applicable licensed product in the applicable country, (ii) the expiration of any regulatory exclusivity for the applicable licensed product in the applicable country or (iii) ten years after the first commercial sale of the applicable licensed product in the applicable country covered by the Sanofi Agreement. The Company identified the following promises in the Sanofi Agreement: (1) the research licenses, (2) the research services, (3) the obligation to share information during the research term and (4) the participation of alliance managers in the joint research committee and joint patent committee. The Company determined that the research licenses are not capable of being distinct due to the specialized nature of the research services to be provided by the Company, and, accordingly, this promise was combined with the research services as one single performance obligation. The Company also determined that Sanofi’s exclusive right to add up to two additional targets constitutes a material right as it represents a significant and incremental discount that Sanofi would not have received without entering into the Sanofi Agreement. The option to extend the license term does not represent a material right because it does not contain a significant and incremental discount. In order to determine the transaction price, the Company evaluated all the payments to be received during the duration of the contract. Milestone and additional fees were considered variable consideration, which were not included in the transaction price based on the most likely amount method as of November 30, 2022. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. At the inception of the Sanofi Agreement, the Company determined that the transaction price consists of the upfront payment of $55.0 million. To account for the material right related to the two additional targets, instead of determining the standalone selling price for the option directly, the Company applied the practical alternative to allocating the transaction price by determining the consideration that it expects to receive in exchange for the research activities that it expects to provide on the two additional targets for a total of five targets. The practical alternative can be applied as the research activities for the two additional targets are similar to the research activities for the initial three targets. Consequently, for the purpose of applying the practical alternative to estimating the standalone selling price of the material right, an expected consideration of $77.0 million was used for revenue recognition allocation, which represents the $55.0 million paid upfront for the three initial drug targets, and the $22.0 million for the additional consideration related to two additional targets which was included as part of applying the practical alternative, and for which Sanofi subsequently exercised its option to expand the collaboration to include. Subsequently, upon the achievement of research milestones, $4.0 million in variable consideration was added to the transaction price, which includes $1.0 million added during the three months ended November 30, 2022, and a cumulative effect was recorded as revenue in the period the transaction price increased. Revenue is recognized using the cost-based input method over the research term of 4.25 years, the revised research period that was agreed to in January 2021 in the First Sanofi Amendment, for certain targets, and 5.25 years, the revised research period due to the target substitutions in July 2022, for certain other targets. The Company accounted for the First Sanofi Amendment as if it were part of the existing contract with Sanofi as the remaining goods and services to be provided after the contract modification are not distinct from the goods and services already provided and, therefore, form part of a single performance obligation that is partially satisfied at the date of the contract modification. The contract modification did not have an effect on the contract transaction price. The effect of the revised research period on the Company’s measure of progress toward complete satisfaction of the performance obligation was recognized as an adjustment to revenue at the date of the contract modification on a cumulative catch-up basis. Using the cost-based input method, which the Company determined most faithfully depicts the transfer of its performance obligation to Sanofi, the Company recognizes revenue based on actual costs incurred as a percentage of total estimated costs as the Company completes its performance obligation under the contract. Costs consist primarily of internal FTE and third-party contract costs related to the Sanofi Agreement. The cumulative effect of revisions to estimated costs to complete the Company’s performance obligation is recorded in the period in which changes are identified and amounts can be reasonably estimated. Total estimated costs are primarily driven by the number of estimated FTEs, which requires significant management judgment. For the year ended November 30, 2022, the Company recognized collaboration revenue related to the Sanofi Agreement of $15.0 million, of which $14.0 million was included in deferred revenue as of November 30, 2021, and $0.6 million was related to performance obligations satisfied in previous periods. For the year ended November 30, 2021, the Company recognized collaboration revenue related to the Sanofi Agreement of $13.2 million, of which $13.0 million was included in deferred revenue as of November 30, 2020, and $0.1 million was related to performance obligations satisfied in previous periods. As of November 30, 2022, deferred revenue related to the Sanofi Agreement was $46.2 million, of which $19.4 million was current and includes $1.0 million in contract assets representing the unbilled amount related to the research milestone recognized in November 2022. As of November 30, 2021, deferred revenue related to the Sanofi Agreement was $59.2 million, of which $21.3 million was current

Consolidated Balance Sheet Components

12 Months Ended

Nov. 30, 2022

Balance Sheet Related Disclosures [Abstract]

Consolidated Balance Sheet Components

Property and Equipment, Net

Property and equipment, net, consisted of the following (in thousands):


	November 30,
	2022		2021
Laboratory equipment	$	26,385	$	18,321
Leasehold improvements	3,825		3,083
Computer equipment	786		538
Furniture and fixtures	452		437
Software	4,688		3,349
Software in progress	697		491
Total property and equipment, gross	36,833		26,219
Less: Accumulated depreciation and amortization	(19,670)		(14,879)
Total property and equipment, net	$	17,163	$	11,340

For the years ended November 30, 2022 and 2021, depreciation and amortization expense was $5.3 million and $2.8 million, respectively, which includes amortization expense related to capitalized internal-use software of $1.2 million and $0.8 million, respectively. All long-lived assets are maintained in the United States.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	November 30,
	2022		2021
Accrued compensation	$	13,164	$	8,854
Accrued contract research and lab supplies	6,426		4,158
Accrued professional services	1,250		803
Accrued taxes	85		75
Other	1,503		659
Total accrued expenses and other current liabilities	$	22,428	$	14,549

Fair Value Measurements

12 Months Ended

Nov. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

In accordance with the authoritative guidance on fair value measurements and disclosures under U.S. GAAP, the Company discloses and recognizes the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows:

Level 1—Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date;

Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; and

Level 3—Inputs that are unobservable.

Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and considers factors specific to the asset or liability.

The following tables present the Company’s investments, which consist of cash equivalents and available-for-sale marketable securities, that are measured at fair value on a recurring basis as of November 30, 2022 and 2021 (in thousands):


November 30, 2022	Level	Amortized cost		Unrealized gain		Unrealized loss		Estimated fair value
Money market funds	Level 1	$	59,452	$	—	$	—	$	59,452
U.S. treasury securities	Level 1	75,322		—		(1,120)		74,202
Corporate debt securities	Level 2	81,026		—		(1,279)		79,747
U.S. government agency securities	Level 2	8,998		—		(135)		8,863
Corporate commercial paper	Level 2	74,896		—		—		74,896
Foreign government securities	Level 2	7,051		—		(92)		6,959
Long-term marketable securities:
U.S. treasury securities	Level 1	5,779		—		(98)		5,681
Corporate debt securities	Level 2	3,492		—		(217)		3,275
U.S. government agency securities	Level 2	56,301		1		(1,379)		54,923
Total		$	372,317	$	1	$	(4,320)	$	367,998
Included in cash and cash equivalents		$	59,452	$	—	$	—	$	59,452
Included in marketable securities, current		$	247,293	$	—	$	(2,626)	$	244,667
Included in marketable securities, non-current		$	65,572	$	1	$	(1,694)	$	63,879


November 30, 2021	Level	Amortized cost		Unrealized gain		Unrealized loss		Estimated fair value
Money market funds	Level 1	$	73,438	$	—	$	—	$	73,438
U.S. treasury securities	Level 1	20,608		—		(9)		20,599
Corporate debt securities	Level 2	46,599		1		(54)		46,546
U.S. government agency securities	Level 2	16,496		1		(14)		16,483
Corporate commercial paper	Level 2	121,495		—		—		121,495
Municipal securities	Level 2	10,082		9		—		10,091
Long-term marketable securities:
U.S. treasury securities	Level 1	39,932		—		(85)		39,847
Corporate debt securities	Level 2	74,334		—		(365)		73,969
U.S. government agency securities	Level 2	16,236		—		(67)		16,169
Municipal securities	Level 2	7,229		—		(25)		7,204
Total		$	426,449	$	11	$	(619)	$	425,841
Included in cash and cash equivalents		$	73,438	$	—	$	—	$	73,438
Included in marketable securities, current		$	215,280	$	11	$	(77)	$	215,214
Included in marketable securities, non-current		$	137,731	$	—	$	(542)	$	137,189

As of November 30, 2022 and 2021, the accrued interest receivable related to the Company’s marketable securities was $1.1 million and $0.9 million, respectively, and was included in prepaid expenses and other current assets on the consolidated balance sheet. Long-term marketable securities held by the Company generally mature within two years from the balance sheet date.

The Company classifies its money market funds and U.S. treasury securities, which are valued based on quoted market prices in active markets with no valuation adjustment, as Level 1 assets within the fair value hierarchy.

The Company classifies its marketable securities in corporate debt securities, U.S. government agency securities, corporate commercial paper, foreign government securities and municipal securities as Level 2 assets within the fair value hierarchy. The fair values of these marketable securities are estimated by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data and other observable inputs. There were no transfers of financial instruments between valuation levels during the years ended November 30, 2022 and 2021.

As of November 30, 2022 and 2021, the unrealized losses for available-for-sale marketable securities were non-credit related, and the Company does not intend to sell the securities that were in an unrealized loss position, nor will it be required to sell those securities before recovery of their amortized cost basis, which may be maturity. As of November 30, 2022 and 2021, no allowance for credit losses for the Company’s marketable securities was recorded. During the years ended November 30, 2022 and 2021, the Company did not recognize any impairment losses related to marketable securities.

Commitments and Contingencies

12 Months Ended

Nov. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Proceedings

From time to time, the Company may be involved in legal proceedings in the ordinary course of business. The Company accrues a liability for such matters when it is probable that future expenditures will be made and that such expenditures can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. Legal fees and other costs associated with such actions are expensed as incurred. As of November 30, 2022, the Company was not a party to any material legal proceedings.

Indemnifications

In the ordinary course of business, the Company often includes standard indemnification provisions in its arrangements with its partners, suppliers and vendors, among others. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service, breach of representations or covenants, intellectual property infringement or other claims made against such parties. These provisions may limit the time within which an indemnification claim can be made. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. The Company has not incurred any material costs as a result of such indemnifications and has not accrued any liabilities related to such obligations in these consolidated financial statements as management believes such liability is immaterial.

In addition, the Company has entered into indemnification agreements with directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. No demands have been made upon the Company to provide indemnification under such agreements, and thus, there are no claims that the Company is aware of that could have a material effect on the Company’s consolidated financial statements. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is not specified in the agreements. However, the Company currently has directors’ and officers’ insurance that reduces its exposure and may enable the Company to recover a portion of any future amounts paid.

Operating Leases

The Company leases office and laboratory facilities totaling approximately 57,902 square feet within the same building in San Francisco, California under several lease agreements. The terms of these lease agreements expire on April 30, 2025. The Company has an option to renew these leases for an additional two years, which has not been included in the lease term used to calculate the right-of-use asset and lease liability as it is not reasonably certain that the Company will exercise this option. The Company is required to pay base rent plus the tenant’s proportionate share of operating expenses as defined in the lease agreement.

In July 2021, the Company entered into a lease agreement for the lease of approximately 19,320 square feet of office space in a different building in San Francisco, California. The lease commenced on December 1, 2021 and will expire on June 30, 2024, unless terminated earlier. The Company is required to pay base rent plus the tenant’s proportionate share of operating expenses as defined in the lease agreement.

The leased premises were subject to additional variable lease payments related to landlord-owned improvements which were not estimable at lease inception. The right-of-use assets recognized in exchange for lease obligations for these additional variable lease payments were $1.2 million and $0.3 million for the years ended November 30, 2022 and 2021, respectively.

In March 2022, the Company entered into a lease agreement for the lease of approximately 46,434 square feet of office space in The Woodlands, Texas, for a research and development laboratory and related uses. The Company obtained access to the premise on August 1, 2022 to commence construction of landlord-owned improvements, and the lease is expected to commence in fiscal year 2023 when the underlying assets become available for use and will expire on March 1, 2035, unless terminated earlier. The Company has an option to renew for two additional terms of five years each, and it is not reasonably certain that the Company will exercise this option. The minimum rent payable by the Company under the lease will be approximately $205,000 per month, beginning on March 1, 2023, which amount will increase by 3% per year over the term of the lease; provided that, for the period between March 1, 2023 and February 29, 2024, the minimum rent payable by the Company under the lease will be approximately $154,000 per month. The Company will also be responsible for the payment of the tenant’s proportionate share of operating expenses as defined in the lease agreement.

Operating lease expenses, excluding additional rent charges for utilities, maintenance and real estate taxes, were $5.9 million and $3.8 million for the years ended November 30, 2022 and 2021, respectively. Short-term lease expense was not material for all periods presented. As of November 30, 2022, the weighted average remaining lease term was 2.2 years and the weighted average discount rate was 2.98%.

Other information related to leases were as follows (in thousands):


	Year Ended November 30,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating leases	$	6,578	$	4,026
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets recognized in exchange for lease obligations	$	5,068	$	2,371

The undiscounted future non-cancellable lease payments under the Company’s lease agreement as of November 30, 2022 were as follows (in thousands):


Year ending November 30,	Operating Leases
2023	$	6,980
2024	7,422
2025	4,330
2026	2,670
2027	2,750
2028 to 2035	22,556
Total undiscounted lease payments	46,708
Less: imputed interest	(430)
Less: undiscounted lease payments related to the lease in The Woodlands, Texas	(34,314)
Total operating lease liabilities	$	11,964
Operating lease liabilities, current	$	5,530
Operating lease liabilities, net of current portion	6,434
Total operating lease liabilities	$	11,964

Common Stock

12 Months Ended

Nov. 30, 2022

Stockholders' Equity Attributable to Parent [Abstract]

Common Stock

The Company’s Restated Certificate of Incorporation authorizes the Company to issue up to 500,000,000 shares of common stock, $0.001 par value per share, as of November 30, 2022 and 2021. Holders of common stock are entitled to dividends when and if declared by the Company’s board of directors, subject to the prior rights of the holders of shares of preferred stock. The holder of each share of common stock is entitled to one vote. As of November 30, 2022, no dividends have been declared.

In July 2022, the Company issued pre-funded warrants to purchase an aggregate of 6,814,920 shares of the Company’s common stock in RDOs at a price of $13.939 per pre-funded warrant. The pre-funded warrants were immediately exercisable, have an exercise price of $0.001 and may be exercised at any time after the date of issuance. A holder of pre-funded warrants may not exercise the warrant if the holder, together with its affiliates, would beneficially own more than 9.99% of the number of shares of the Company’s common stock outstanding immediately after giving effect to such exercise. A holder of the pre-funded warrants may increase or decrease this percentage not in excess of 19.99% by providing at least 61 days’ prior notice to the Company. As of November 30, 2022, all of the pre-funded warrants remained available for exercise.

The pre-funded warrants were classified as a component of permanent equity in the Company's consolidated balance sheet as they are freestanding financial instruments that are immediately exercisable, do not embody an obligation for the Company to repurchase its own shares and permit the holders to receive a fixed number of shares of common stock upon exercise. All of the shares underlying the pre-funded warrants have been included in the weighted-average number of shares of common stock used to calculate net loss per share attributable to common stockholders because the shares may be issued for little or no consideration, are fully vested and are exercisable after the original issuance date of the pre-funded warrants.

Common stock reserved for future issuance, on an as-if converted basis, as of November 30, 2022 and 2021, consists of the following:


	November 30,
	2022	2021
Options to purchase common stock issued and outstanding	8,256,957	5,878,552
Shares available for future stock option grants	834,291	2,562,570
Shares available for issuance under employee stock purchase plan	1,325,523	1,015,184
Restricted stock units issued and outstanding	784,824	20,000
Pre-funded warrants issued and outstanding	6,814,920	—
Total common stock reserved for future issuance	18,016,515	9,476,306

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

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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-Name Accounting Standards Codification
-Topic 505
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Stock-Based Compensation

12 Months Ended

Nov. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Equity Incentive Plans

The Company’s 2020 Equity Incentive Plan (the 2020 Plan) serves as the successor to the Company’s 2012 Equity Incentive Plan (together with the 2020 Plan, the Stock Plans) and provides for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units (RSUs), performance awards and stock bonus awards to employees, directors, consultants, independent contractors and advisors of the Company.

Under the Stock Plans, the Company generally grants stock-based awards with service-based vesting conditions only. Options granted typically vest under various different vesting terms over a four-year period and expire ten years from the date of grant. In the case of an incentive stock option granted to an employee who at the time of grant owns stock representing more than 10% of the total combined voting power of all classes of stock, the exercise price shall be no less than 110% of the fair value per share on the date of grant, and the award shall expire five years from the date of grant. In the case of all other stock options, the per share exercise price shall be no less than 100% of the fair value per share on the date of grant. RSUs issued typically vest under various different vesting terms over a two- to four-year period.

Following the effectiveness of the 2020 Plan on July 22, 2020, the Company ceased making grants under the 2012 Plan. However, the 2012 Plan continues to govern the terms and conditions of the outstanding awards granted under it. Shares of common stock subject to awards granted under the 2012 Plan that cease to be subject to such awards by forfeiture or otherwise will be available for issuance under the 2020 Plan.

As of November 30, 2022, there were 834,291 shares of common stock reserved for future issuance pursuant to the 2020 Plan.

Stock options

Option activity under the Stock Plans is set forth below:


	Number of options outstanding	Weighted- average exercise price		Weighted- average contractual life (in years)	Aggregate intrinsic value(1) (in thousands)
Balances as of November 30, 2021	5,878,552	$	19.42	8.67	$	65,692
Options granted	3,239,906	18.03
Options exercised	(325,596)	3.31
Options forfeited	(535,905)	20.11
Balances as of November 30, 2022	8,256,957	$	19.47	8.44	$	13,210
Options vested and expected to vest as of November 30, 2022(2)	8,279,203	$	19.43	8.44	$	13,322
Options exercisable as of November 30, 2022	3,629,383	$	16.14	7.65	$	12,473

____________________________


(1)			The aggregate intrinsic values were calculated as the pre-tax difference between the exercise price of stock options and the quoted market price of the Company’s common stock on November 30, 2022 for all in‑the‑money stock options. The total intrinsic value of stock options exercised during the years ended November 30, 2022 and 2021 was $4.5 million and $15.9 million, respectively.


(2)			Certain stock options granted by the Company prior to the date of IPO are exercisable at the date of grant, with unvested shares subject to repurchase by the Company in the event of the voluntary or involuntary termination of employment of the stockholder. Such exercises are recorded as a liability in the consolidated balance sheet and reclassified into equity as the options vest. As of November 30, 2022, a total of 22,246 shares of common stock were subject to repurchase by the Company at the lower of (i) the fair value of such shares on the date of repurchase, or (ii) the original exercise price of such shares. The corresponding exercise value of $0.2 million as of November 30, 2022 is recorded as a stock-based compensation liability.

The fair value of options granted during the years ended November 30, 2022 and 2021 was estimated using the Black-Scholes option pricing model on the grant date using the following assumptions:


	November 30,
	2022	2021
Expected term (years)	5.50 - 6.07	5.50 - 6.12
Expected volatility	70% - 74%	70% - 79%
Risk-free interest rate	1.31% - 4.22%	0.52% - 1.24%
Dividend yield	0%	0%

The expected term represents the weighted-average period the stock-based payments are expected to remain outstanding. The expected term assumption for stock options was determined using the simplified method for “plain-vanilla” options. The expected stock price volatility assumption was determined by examining the historical volatilities for industry peers, as the Company does not have sufficient trading history for its common stock. The risk-free rate assumption is based on the U.S. Treasury instruments. The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. The expected dividend yield is 0% as the Company has not paid and does not anticipate paying dividends on its common stock.

During the years ended November 30, 2022 and 2021, the weighted-average grant date fair value of options granted was $11.80 and $21.15 per share, respectively.

Restricted stock units

RSU activity under the Stock Plans is set forth below:


	Number of RSUs	Weighted-average grant date fair value
Balances as of November 30, 2021	20,000	$	27.42
RSUs granted	858,582	19.11
RSUs vested	(46,028)	20.40
RSUs forfeited	(47,730)	23.62
Balances as of November 30, 2022	784,824	$	18.97

During the years ended November 30, 2022 and 2021, the weighted-average grant date fair value of RSUs granted was $19.11 and $27.42 per share, respectively, and the total fair value of RSUs vested was $0.9 million and zero, respectively.

Employee Stock Purchase Plan

Under the Company’s 2020 Employee Stock Purchase Plan (the ESPP), eligible employees are entitled to purchase shares of common stock at a discount with accumulated payroll deductions. The purchase price for shares of common stock purchased under the ESPP will be 85% of the lesser of the fair market value of the Company’s common stock on (i) the first trading day of the applicable offering period or (ii) the last trading day of each purchase period in the applicable offering period.

During the year ended November 30, 2022, the Company issued 136,304 shares pursuant to the ESPP at a weighted-average price of $14.34 per share. As of November 30, 2022, there were 1,325,523 shares of common stock reserved for issuance pursuant to the ESPP.

The fair value of ESPP granted during the years ended November 30, 2022 and 2021 was estimated using the Black-Scholes option pricing model on the grant date using the following assumptions:


	November 30,
	2022	2021
Expected term (years)	0.5	0.5
Expected volatility	70% - 101%	60% - 75%
Risk-free interest rate	0.67% - 3.12%	0.05% - 0.06%
Dividend yield	0%	0%

Stock-Based Compensation

Stock-based compensation expense related to the Stock Plans and the ESPP that is included in the Company’s consolidated statements of operations is as follows (in thousands):


	Year Ended November 30,
	2022		2021
Research and development	$	16,808	$	8,079
General and administrative	11,323		7,721
Total stock-based compensation	$	28,131	$	15,800

During the years ended November 30, 2022 and 2021, capitalized stock-based compensation related to internal-use software development was $69,000 and zero, respectively. As of November 30, 2022, the total compensation cost related to stock-based awards not yet recognized was $79.3 million, which is expected to be amortized on a straight-line basis over the weighted-average remaining vesting period of approximately 2.73 years.

Defined Contribution Plan	12 Months Ended
Defined Contribution Plan	Nov. 30, 2022
Retirement Benefits [Abstract]
Defined Contribution Plan	Defined Contribution Plan The Company sponsors a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code of 1986, as amended (the 401(k) Plan), which provides for the Company to make discretionary matching or discretionary annual contributions to the 401(k) Plan, for its employees. Substantially all of the Company’s employees are eligible to participate in the 401(k) Plan. Employees may contribute a percentage of their annual compensation to the plan, subject to statutory limitations. The Company has made contributions to the 401(k) Plan and recorded contribution expense of $0.9 million and $0.7 million during the years ended November 30, 2022 and 2021, respectively.

Income Taxes

12 Months Ended

Nov. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

For the year ended November 30, 2022, the Company did not record any current income tax benefit or provision, and for the year ended November 30, 2021, the Company recorded a current income tax provision of $0.1 million primarily due to state taxes offset by a federal income tax refund. The Company had generated net operating losses (NOLs) since inception and has established a valuation allowance against its deferred tax assets due to the uncertainty surrounding the realization of such assets.

Loss before provision for income taxes includes the following component (in thousands):


	November 30,
	2022		2021
Domestic	$	(180,360)	$	(117,063)
	$	(180,360)	$	(117,063)

The provision for income taxes consists of the following (in thousands):


	November 30,
	2022		2021
Current:
Federal	$	—	$	(203)
State	—		334
Total provision for income taxes	$	—	$	131

The effective tax rate differs from the federal statutory rate as follows:


	November 30,
	2022		2021
Federal statutory income tax rate	21.0	%	21.0	%
State income tax rate	5.9		5.0
Research and development tax credits	3.5		4.5


Stock-based compensation	(2.0)		(1.2)
Change in valuation allowance	(28.4)		(29.3)
Other	—		(0.1)
Total	—	%	(0.1)	%

Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of loss and credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the deferred tax assets for federal and state income taxes are as follows (in thousands):


	Year ended November 30,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	83,775	$	41,081
Research and development tax credits	27,096		17,502
Deferred revenue	19,950		21,874
Stock-based compensation	3,846		1,054
Accrued expenses and other liabilities	3,797		1,896
Operating lease liabilities	3,199		3,436
Gross deferred tax assets	141,663		86,843
Valuation allowance	(138,362)		(83,517)
Total deferred tax assets	3,301		3,326
Deferred tax liabilities:
Operating lease right-of-use assets	(3,301)		(3,326)
Total deferred tax liabilities	(3,301)		(3,326)
Net deferred tax assets	$	—	$	—

Realization of the deferred tax assets is dependent upon future taxable income, the amount, if any, and timing of which are uncertain. The Company has established a valuation allowance to offset deferred tax assets as of November 30, 2022 and 2021 due to the uncertainty of realizing future tax benefits from its NOL carryforwards and other deferred tax assets. The valuation allowance increased by $54.8 million during the year ended November 30, 2022, primarily related to an increase on the deferred tax asset for research and development (R&D) credits and NOL carryforwards. The valuation allowance increased by $36.1 million during the year ended November 30, 2021, primarily due to an increase on the deferred tax asset for deferred revenue, R&D credits and NOL carryforwards.

As of November 30, 2022, the Company had NOL carryforwards available to reduce future taxable income, if any, for federal and state income tax purposes of $276.3 million and $299.6 million, respectively. Federal NOL carryforwards generated for tax years beginning before December 31, 2017 can be carried forward 20 years and begin expiring in 2029. Federal NOL carryforwards of $272.9 million for tax years beginning after December 31, 2017 can be carried forward indefinitely.

State NOL carryforwards begin expiring in 2029. As of November 30, 2022, the Company had federal and state research credit carryforwards of $22.1 million and $15.2 million, respectively. If not utilized, the federal credit carryforwards will begin expiring in 2032 and the state credits carry forward indefinitely.

Internal Revenue Code of 1986, as amended (IRC), Section 382 places a limitation on the utilization of NOL and tax credit carryforwards in the event of certain cumulative changes in the ownership interest of significant stockholders over a three-year period in excess of 50 percentage points. The Company has identified two ownership changes that have triggered a limitation on pre-change NOLs under Section 382. A majority of the Company’s pre-change NOLs remain available within the carryforward period provided by the IRC, subject to availability of taxable income. As a result of the ownership changes, the Company has determined that approximately $0.4 million of NOLs will expire unutilized, and as such, these NOLs are not reflected in the Company’s deferred tax asset balance.

Unrecognized Tax Benefits

The Company has recorded a liability related to uncertain tax positions in the financial statements. It is the Company’s policy to include penalties and interest expense related to income taxes as a component for the provision for income taxes. The Company has unrecognized tax benefits of $10.3 million as of November 30, 2022, all of which are offset by a full valuation allowance. There are no tax benefits included in the balance of unrecognized tax benefits that, if recognized, would affect the effective tax rate. There are no interest and penalties accrued as of November 30, 2022. A reconciliation of the beginning and ending amounts of unrecognized income tax benefits during the years ended November 30, 2022 and 2021 is as follows (in thousands):


	Years ended November 30,
	2022		2021
Balance at beginning of period	$	6,331	$	5,361
Additions based on tax positions related to prior period	—		1
Additions based on tax positions related to current period	3,930		2,282
Settlements	—		(1,313)
Balance at end of period	$	10,261	$	6,331

The Company files income tax returns in the United States and in various states. In February 2018 the Internal Revenue Service (IRS) commenced an examination of the Company’s U.S. income tax return for the tax years ending in 2016, 2017, 2018 and 2019. All tax issues under examination were effectively settled during the year ended November 30, 2021. As a result, the Company removed the associated unrecognized tax benefit reserves and decreased its R&D credit carryforward by $1.3 million. The Company continues to maintain an unrecognized tax benefit related to federal R&D credits generated in years not covered by the examination.

Additionally, in January 2019 the California Franchise Tax Board (FTB) initiated an examination of the Company’s California tax return for the tax years ending in 2015, 2016, 2017 and 2018. During the year ended November 30, 2021, the FTB issued proposed audit assessments related to revenue sourcing and R&D credits. The Company does not agree with the FTB assessments and intends to challenge the assessments. Pursuant to a measurement analysis, the Company has not recorded an unrecognized tax benefit related to the FTB’s sourcing position. The Company maintains an unrecognized tax benefit related to its California R&D credits for all years.

All of the Company’s tax years will remain open for examination by the federal and state authorities for three and four years, respectively, from the date of the utilization of any NOLs.

In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, allows NOLs incurred in taxable years 2018, 2019 and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The fiscal 2020 tax benefit was primarily due to the carryback of NOLs to prior taxable years as allowed under the CARES Act. In fiscal 2020, the Company filed refund claims of $19.6 million to carryback NOLs generated in fiscal years ended November 30, 2018 and 2019. These refund claims were approved by Congressional Joint Committee on Taxation during the year ended November 30, 2021. As of November 30, 2021, the Company had received the full amount of these refund claims.

In August 2022, the U.S. Inflation Reduction Act (the Act) was enacted into law. The Act includes various tax provisions, including an excise tax on stock repurchases, expanded tax credits for clean energy incentives and a corporate alternative minimum tax that generally applies to U.S. corporations with adjusted financial statement income in excess of $1.0 billion. The Company does not expect the Act to have a material impact on its financial statements.

In December 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law, significantly reforming the Internal Revenue Code of 1986, as amended (IRC). The TCJA contained certain provisions that went into effect on January 1, 2022, including a provision impacting Section 174 of the IRC whereby for tax years beginning on or after January 1, 2022, taxpayers are required to capitalize and amortize, rather than deduct, research and experimental (R&E) expenses. The R&E expenses under Section 174 must be amortized over five years for research performed in the U.S. and 15 years for research performed outside the U.S. The provisions of Section 174 are not applicable to the financial statements as of and for the year ended November 30, 2022. The Company is closely monitoring these provisions and is in the process of analyzing the potential impact to its income taxes and financial position in future years.

- Definition

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

+ References

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

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

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

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

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

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

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

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

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

+ Details

Net Loss Per Share

12 Months Ended

Nov. 30, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders, which excludes shares which are legally outstanding but subject to repurchase by the Company (in thousands, except share and per share data):


	Year Ended November 30,
	2022		2021
Numerator:
Net loss	$	(180,360)	$	(117,194)
Denominator:
Weighted-average number of shares outstanding, basic and diluted (1)	48,607,990		42,895,383
Net loss per share, basic and diluted	$	(3.71)	$	(2.73)


(1)			The shares underlying the pre-funded warrants to purchase an aggregate of 6,814,920 shares of the Company’s common stock have been included in the calculation of the weighted-average number of shares outstanding, basic and diluted, for the year ended November 30, 2022.

The following potentially dilutive securities were excluded from the computation of the diluted net loss per share of common stock for the periods presented because their effect would have been anti-dilutive:


	Years ended November 30,
	2022	2021
Options to purchase common stock issued and outstanding	8,256,957	5,878,552
Options early exercised subject to vesting	22,246	58,794
Restricted stock units issued and outstanding	784,824	20,000
Shares expected to be purchased under employee stock purchase plan	123,194	50,882
Total	9,187,221	6,008,228

Related Party Transactions	12 Months Ended
Related Party Transactions	Nov. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company’s Chief Financial Officer is a trustee for the multiple employer welfare association that facilitates the acquisition and administration of the Company’s healthcare plans. Expenses related to the healthcare plan premiums were $4.0 million and $2.6 million for the years ended November 30, 2022 and 2021, respectively. As of November 30, 2022 and 2021, the amount recorded in accounts payable and accrued expenses and other current liabilities in connection with this healthcare plan provider was not material.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Nov. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and include the accounts of the Company and its wholly owned subsidiaries, including DeCART Therapeutics Inc., which was legally dissolved in July 2022. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified for consistency with the current year cash flow presentation. The reclassification did not impact total cash flow from operating, investing or financing activities.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to the useful lives of long-lived assets, the measurement of stock-based compensation, accruals for research and development activities, income taxes and revenue recognition. The Company bases its estimates on historical experience and on other relevant assumptions that are reasonable under the circumstances. Actual results could materially differ from those estimates. Refer to Note 3 for more information regarding the estimates related to revenue recognition.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents and marketable securities. The Company’s marketable securities consist of debt securities issued by highly rated corporate entities, the U.S. federal government or state and local governments. The Company’s exposure to any individual corporate entity is limited by policy. Deposits may, at times, exceed federally insured limits. The Company invests its cash equivalents in highly rated money market funds. During the periods presented, the Company has not experienced any losses on its deposits of cash, cash equivalents or marketable securities.
Other Risks and Uncertainties	Other Risks and Uncertainties The Company is subject to a number of risks similar to other clinical stage biopharmaceutical companies, including, but not limited to, changes in any of the following areas that the Company believes could have a material adverse effect on its future financial position or results of operations: risks related to the successful discovery and development of its drug candidates, ability to raise additional capital, development of new technological innovations by its competitors and delay or inability to obtain drug substance and finished drug product from the Company’s third-party contract manufacturers necessary for the Company’s drug candidates, including due to the impact of the current coronavirus (COVID-19) pandemic, protection of intellectual property rights, litigation or claims against the Company based on intellectual property rights and regulatory clearance and market acceptance for any of the Company’s products candidates for which the Company receives marketing approval. Moreover, the Company is subject to risks and uncertainties as a result of the current COVID-19 pandemic and increasing financial market volatility and uncertainty. The COVID-19 pandemic, including the resurgence of cases relating to the spread of new variants, continues to impact worldwide economic activity and poses the risk that the Company or its employees, contractors, suppliers and other partners may be prevented from conducting business activities for an indefinite period of time, including due to shutdowns that may be requested or mandated by governmental authorities. The extent to which the COVID-19 pandemic and increasing financial market volatility and uncertainty will impact the Company’s business will depend on future developments that are highly uncertain and cannot be predicted at this time. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The extent to which the COVID-19 pandemic and the increasing financial market volatility and uncertainty may directly or indirectly impact the Company’s financial statements is highly uncertain and subject to change. Management considered the potential impact of the COVID-19 pandemic on its estimates and assumptions and there was not a material impact to the Company’s consolidated financial statements as of and for the year ended November 30, 2022; however, actual results could differ from those estimates and there may be changes to management’s estimates in future periods. The Company relies on single source manufacturers and suppliers for the supply of its drug candidates. Disruption from these manufacturers or suppliers would have a negative impact on the Company’s business, financial position and results of operations.
Segments	Segments The Company operates and manages its business as one reportable and operating segment. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resources and assess performance. The Company’s CODM is the Chief Executive Officer, who reviews consolidated financial information on a company-wide basis for purposes of allocating resources and assessing financial performance.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid marketable securities with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which consist of money market funds, are stated at fair value.
Restricted Cash	Restricted CashThe Company had $0.9 million and $0.3 million of restricted cash recorded as a non-current asset as of November 30, 2022 and 2021, respectively. Restricted cash as of November 30, 2022 consisted of $0.1 million that serves as collateral for a business credit card account and $0.8 million for letters of credit required under operating leases. Restricted cash as of November 30, 2021 consisted of $0.1 million that serves as collateral for a business credit card account and $0.2 million for a letter of credit required under an operating lease. These balances are included within the cash, cash equivalents and restricted cash balance in the accompanying consolidated statements of cash flows.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, including cash equivalents, accounts payable and accrued liabilities included in the Company’s consolidated financial statements approximate their fair value due to the nature of the financial instruments. Refer to Note 5 for more information regarding the fair value of the Company’s marketable securities.
Marketable Securities	Marketable Securities Marketable securities consist of money market funds, U.S. Treasuries, corporate debt securities, U.S. government agency securities, corporate commercial paper, foreign government securities and municipal securities. The Company’s marketable securities are classified as available-for-sale and carried at estimated fair values and reported in cash equivalents, short-term marketable securities or long-term marketable securities. Management determines the appropriate classification of the marketable securities at the time they are acquired and evaluates the appropriateness of such classifications at each consolidated balance sheet date. Marketable securities with contractual maturities greater than 12 months are considered long-term marketable securities. The Company regularly reviews its marketable securities for declines in estimated fair value below amortized cost. The factors considered in determining whether a credit loss exists include the creditworthiness of the security issuers, the number of marketable securities in an unrealized loss position, the severity and duration of the unrealized losses, and whether it is more likely than not that the Company will be required to sell the marketable securities before the recovery of their amortized cost basis. The cost of marketable securities sold is based on the specific identification method. In circumstances when an unrealized loss is determined to be credit-related, or when the Company intends to sell or is more likely than not required to sell a security before it recovers its amortized cost basis, the difference between the fair value and the amortized cost of the security is recognized as interest and other income, net in the consolidated statements of operations, and an allowance for credit loss is recorded on the consolidated balance sheet. In circumstances when the decline in fair value is non-credit related, the difference is reported in accumulated other comprehensive income (loss), net of tax as a separate component of stockholders’ equity.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Major improvements are capitalized, while maintenance and repairs are expensed when incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful life of laboratory equipment, computer equipment, furniture and fixtures and software is generally three years. Tenant improvements are depreciated over the shorter of the lease term or the estimated useful life of the improvements. When assets are retired or disposed of, the cost together with related accumulated depreciation is removed from the Company’s accounts and the resulting gain or loss is reflected in the Company’s consolidated statements of operations.
Leases	Leases The Company determines if an arrangement contains a lease at inception. Lease right-of-use (ROU) assets, current lease liabilities and long-term lease liabilities are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term at the commencement date. ROU assets also include any initial direct costs incurred and any lease payments made on or before the lease commencement date, less lease incentives received. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the lease liabilities as the Company’s leases generally do not provide an implicit rate. The incremental borrowing rate, the ROU asset and the lease liability are reevaluated upon a lease modification. The Company determines its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Lease terms may include options to extend or terminate the lease when the Company is reasonably certain that the option will be exercised. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company does not have any finance leases. The Company elected to apply each of the practical expedients described in Topic 842 which allow companies (i) not to reassess prior conclusions on whether any expired or existing contracts are or contain a lease, lease classification, and initial direct costs, (ii) combine lease and non-lease components for all underlying assets groups, and (iii) not recognize ROU assets or lease liabilities for short-term leases. A short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise.
Internal-Use Software Development Costs	Internal-Use Software Development CostsThe Company capitalizes qualifying costs incurred during the application development stage related to software developed for internal-use and amortizes them over the estimated useful life of three years. Amortization of such costs begins when the project is substantially complete and ready for its intended use. Capitalized software development costs are classified as property and equipment, net on the consolidated balance sheet. The Company expenses costs incurred related to the planning and post-implementation phases of development as incurred.
Long-Lived Assets	Long-Lived Assets Long-lived assets, such as property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.
Deferred Offering Costs	Deferred Offering Costs The Company capitalizes within other assets certain legal, accounting and other third-party fees that are directly related to the Company’s in-process equity financings, including the IPO, until such financings are consummated. After consummation of an equity financing, these costs are recorded in stockholder’s equity as a reduction of additional paid-in capital generated as a result of the offering. Should a planned equity financing be abandoned, terminated or significantly delayed, the deferred offering costs are immediately written off to operating expenses.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To recognize revenue from a contract with a customer, the Company performs the following five steps: (i)identify the contract(s) with a customer; (ii)identify the performance obligations in the contract; (iii)determine the transaction price; (iv)allocate the transaction price to the performance obligations in the contract; and (v)recognize revenue when (or as) the Company satisfies a performance obligation. At contract inception, the Company assesses the goods or services promised within each contract, whether each promised good or service is distinct, and determines those that are performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. The Company enters into collaboration agreements under which it may obtain upfront payments, milestone payments, royalty payments and other fees. Promises under these arrangements may include research licenses, research services, including selection campaign research services for certain replacement targets, the obligation to share information during the research and the participation of alliance managers and in joint research committees, joint patent committees and joint steering committees. The Company assesses these promises within the context of the agreements to determine the performance obligations. Research and collaboration licenses: If a license is determined to be distinct from the other promises identified in the arrangement, the Company recognizes revenue from upfront payments allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring proportional performance for purposes of recognizing revenue from non-refundable, upfront payments. The Company evaluates the measure of proportional performance each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Milestone payments: At the inception of each arrangement that includes research, development, or regulatory milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price. The Company uses the most likely amount method for research, development and regulatory milestone payments. Under the most likely amount method, an entity considers the single most likely amount in a range of possible consideration amounts. If it is probable that a significant revenue reversal would not occur, the associated milestone amount is included in the transaction price. Sales-based milestones and royalties: For arrangements that include sales-based milestone or royalty payments based on the level of sales, and in which the license is deemed to be the predominant item to which the sales-based milestone or royalties relate to, the Company recognizes revenue in the period in which the sales-based milestone is achieved and in the period in which the sales associated with the royalty occur. To date, the Company has not recognized any sales-based milestone or royalty revenue resulting from its collaboration arrangements. Customer options: Customer options, such as options granted to allow a licensee to extend a license or research term, to select additional research targets or to choose to research, develop and commercialize licensed compounds are evaluated at contract inception to determine whether those options provide a material right (i.e., an optional good or service offered for free or at a discount) to the customer. If the customer options represent a material right, the material right is treated as a separate performance obligation at the outset of the arrangement. The Company allocates the transaction price to material rights based on the standalone selling price. As a practical alternative to estimating the standalone selling price of a material right when the underlying goods or services are both (i) similar to the original goods or services in the contract and (ii) provided in accordance with the terms of the original contract, the Company allocates the total amount of consideration expected to be received from the customer to the total goods or services expected to be provided to the customer. Amounts allocated to any material right are recognized as revenue when or as the related future goods or services are transferred or when the option expires. Deferred revenue, which is a contract liability, represents amounts received by the Company for which the related revenues have not been recognized because one or more of the revenue recognition criteria have not been met. The current portion of deferred revenue represents the amount to be recognized within one year from the consolidated balance sheet date based on the estimated performance period of the underlying performance obligation. The non-current portion of deferred revenue represents amounts to be recognized after one year through the end of the performance period of the performance obligation. All revenue was derived from customers located in the United States during the years ended November 30, 2022 and 2021.
Research and Development Expenses	Research and Development Expenses The Company expenses all research and development costs as incurred. Research and development costs include, but are not limited to, payroll and personnel expenses, laboratory supplies, preclinical study costs, clinical trial costs, compound manufacturing costs, consulting costs and allocated overhead, including rent, equipment, depreciation and utilities. The Company records accrued expenses for estimated costs of research and development activities conducted by third-party service providers, which include preclinical studies and clinical trials and contract manufacturing activities. The Company records the estimated costs of research and development activities based upon the estimated amount of services provided but not yet invoiced and includes these costs in accrued expenses and other current liabilities on the consolidated balance sheet. The Company estimates the amount of work completed through discussions with internal personnel and external service providers as to the progress or stage of completion of the services and the agreed-upon fee to be paid for such services. The Company makes significant judgments and estimates in determining the accrued balance in each reporting period. As actual costs become known, the Company adjusts its accrued estimates. The Company’s accrued expenses are dependent, in part, upon the receipt of timely and accurate reporting from clinical research organizations and other third-party service providers. The Company records advance payments to service providers as prepaid assets, which are expensed as the contracted services are performed.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation using a fair value-based method, which requires the recognition of compensation expense for costs related to all stock-based payments including stock options, restricted stock units (RSUs) and purchase rights under the Company’s Employee Stock Purchase Plan (ESPP). The Company estimates the fair value of stock options and purchase rights granted under the ESPP on the date of grant using the Black-Scholes option pricing model, which is impacted by the fair value of the Company’s common stock, as well as changes in assumptions regarding a number of highly complex and subjective variables. The model requires management to make a number of assumptions including expected volatility, expected term, risk-free interest rate and expected dividend yield. Prior to its IPO, the fair value of the Company’s common stock was determined by the Company’s board of directors with assistance from management and an independent third-party valuation firm, using significant judgment and several factors including important developments in the Company’s operations, sales of redeemable convertible preferred stock and the lack of liquidity of the common stock. Subsequent to the IPO, the Company determines the fair value of stock options, RSUs and purchase rights under the ESPP using the market closing price of the Company’s common stock on the date of grant. For stock-based payments with service conditions only, the Company uses the straight-line method to allocate compensation cost to reporting periods over the requisite service period, which is generally the vesting period. Stock-based compensation expense for non-employee stock-based awards is also measured based on the grant date fair value with the estimated fair value expensed over the period for which the non-employee is required to provide service in exchange for the award. For stock-based payments with performance conditions, the Company evaluates the probability of achieving performance conditions at each reporting date. The Company begins to recognize compensation cost using an accelerated attribution method when it is deemed probable that the performance condition will be met. The Company accounts for forfeitures as they occur.
Income Taxes	Income taxes The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when in management’s estimate, it is more likely than not, that the deferred tax assets will not be recovered. Financial statement effects of uncertain tax positions are recognized when it is more likely than not, based on the technical merits of the position, that it will be sustained upon examination. It is the Company’s policy to include penalties and interest expense related to income taxes as a component of the provision for income taxes.
Comprehensive Loss	Comprehensive loss Comprehensive loss represents the net loss for the period and other comprehensive income (loss). Other comprehensive income (loss) reflects certain gains and losses that are recorded as a component of stockholders’ equity (deficit) and are not reflected in the consolidated statements of operations. The Company’s other comprehensive income (loss) consists of changes in unrealized gains and losses on available-for-sale marketable securities.
Net Loss Per Share	Net loss per share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock (including non-voting common stock and pre-funded warrants) outstanding during the period, without consideration for all other common stock equivalents. Shares of common stock into which the pre-funded warrants may be exercised are considered outstanding for the purposes of computing net loss per share because the shares may be issued for little or no consideration, are fully vested and are exercisable after the original issuance date. Diluted net loss is calculated by dividing the net loss by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, options to purchase common stock, options early exercised subject to vesting, RSUs and shares expected to be purchased under the ESPP are considered to be potentially dilutive securities. Diluted net loss per share is the same as basic net loss per share, since the effects of potentially dilutive securities are antidilutive given the net loss for each period presented.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2019‑12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes (ASU 2019-12), which is intended to simplify accounting for income taxes and eliminate certain exceptions from Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also requires the amount of tax that is based on income to be accounted for under Topic 740 as an income-based tax, with any incremental amount accounted for as a non-income-based tax recognized entirely in the period incurred. The Company adopted ASU 2019-12 as of December 1, 2021 using the modified retrospective method, and recognized an immaterial non-income-based tax within operating expenses in the current period. The adoption had no other impact on the Company’s consolidated financial statements.

Consolidated Balance Sheet Components (Tables)

12 Months Ended

Nov. 30, 2022

Balance Sheet Related Disclosures [Abstract]

Summary of Property and Equipment

Property and equipment, net, consisted of the following (in thousands):


	November 30,
	2022		2021
Laboratory equipment	$	26,385	$	18,321
Leasehold improvements	3,825		3,083
Computer equipment	786		538
Furniture and fixtures	452		437
Software	4,688		3,349
Software in progress	697		491
Total property and equipment, gross	36,833		26,219
Less: Accumulated depreciation and amortization	(19,670)		(14,879)
Total property and equipment, net	$	17,163	$	11,340

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	November 30,
	2022		2021
Accrued compensation	$	13,164	$	8,854
Accrued contract research and lab supplies	6,426		4,158
Accrued professional services	1,250		803
Accrued taxes	85		75
Other	1,503		659
Total accrued expenses and other current liabilities	$	22,428	$	14,549

Fair Value Measurements (Tables)

12 Months Ended

Nov. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Investments Fair Value Measurement on Recurring Basis


November 30, 2022	Level	Amortized cost		Unrealized gain		Unrealized loss		Estimated fair value
Money market funds	Level 1	$	59,452	$	—	$	—	$	59,452
U.S. treasury securities	Level 1	75,322		—		(1,120)		74,202
Corporate debt securities	Level 2	81,026		—		(1,279)		79,747
U.S. government agency securities	Level 2	8,998		—		(135)		8,863
Corporate commercial paper	Level 2	74,896		—		—		74,896
Foreign government securities	Level 2	7,051		—		(92)		6,959
Long-term marketable securities:
U.S. treasury securities	Level 1	5,779		—		(98)		5,681
Corporate debt securities	Level 2	3,492		—		(217)		3,275
U.S. government agency securities	Level 2	56,301		1		(1,379)		54,923
Total		$	372,317	$	1	$	(4,320)	$	367,998
Included in cash and cash equivalents		$	59,452	$	—	$	—	$	59,452
Included in marketable securities, current		$	247,293	$	—	$	(2,626)	$	244,667
Included in marketable securities, non-current		$	65,572	$	1	$	(1,694)	$	63,879


November 30, 2021	Level	Amortized cost		Unrealized gain		Unrealized loss		Estimated fair value
Money market funds	Level 1	$	73,438	$	—	$	—	$	73,438
U.S. treasury securities	Level 1	20,608		—		(9)		20,599
Corporate debt securities	Level 2	46,599		1		(54)		46,546
U.S. government agency securities	Level 2	16,496		1		(14)		16,483
Corporate commercial paper	Level 2	121,495		—		—		121,495
Municipal securities	Level 2	10,082		9		—		10,091
Long-term marketable securities:
U.S. treasury securities	Level 1	39,932		—		(85)		39,847
Corporate debt securities	Level 2	74,334		—		(365)		73,969
U.S. government agency securities	Level 2	16,236		—		(67)		16,169
Municipal securities	Level 2	7,229		—		(25)		7,204
Total		$	426,449	$	11	$	(619)	$	425,841
Included in cash and cash equivalents		$	73,438	$	—	$	—	$	73,438
Included in marketable securities, current		$	215,280	$	11	$	(77)	$	215,214
Included in marketable securities, non-current		$	137,731	$	—	$	(542)	$	137,189

Commitments and Contingencies (Tables)

12 Months Ended

Nov. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Operating Expense and Sublease Income

Other information related to leases were as follows (in thousands):


	Year Ended November 30,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating leases	$	6,578	$	4,026
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets recognized in exchange for lease obligations	$	5,068	$	2,371

Undiscounted Future Non-Cancellable Lease Payments Schedule

The undiscounted future non-cancellable lease payments under the Company’s lease agreement as of November 30, 2022 were as follows (in thousands):


Year ending November 30,	Operating Leases
2023	$	6,980
2024	7,422
2025	4,330
2026	2,670
2027	2,750
2028 to 2035	22,556
Total undiscounted lease payments	46,708
Less: imputed interest	(430)
Less: undiscounted lease payments related to the lease in The Woodlands, Texas	(34,314)
Total operating lease liabilities	$	11,964
Operating lease liabilities, current	$	5,530
Operating lease liabilities, net of current portion	6,434
Total operating lease liabilities	$	11,964

Common Stock (Tables)

12 Months Ended

Nov. 30, 2022

Stockholders' Equity Attributable to Parent [Abstract]

Schedule of Common Stock Shares Reserved for Future Issuance

Common stock reserved for future issuance, on an as-if converted basis, as of November 30, 2022 and 2021, consists of the following:


	November 30,
	2022	2021
Options to purchase common stock issued and outstanding	8,256,957	5,878,552
Shares available for future stock option grants	834,291	2,562,570
Shares available for issuance under employee stock purchase plan	1,325,523	1,015,184
Restricted stock units issued and outstanding	784,824	20,000
Pre-funded warrants issued and outstanding	6,814,920	—
Total common stock reserved for future issuance	18,016,515	9,476,306

Stock-Based Compensation (Tables)

12 Months Ended

Nov. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Option Activity under the Stock Plans

Option activity under the Stock Plans is set forth below:


	Number of options outstanding	Weighted- average exercise price		Weighted- average contractual life (in years)	Aggregate intrinsic value(1) (in thousands)
Balances as of November 30, 2021	5,878,552	$	19.42	8.67	$	65,692
Options granted	3,239,906	18.03
Options exercised	(325,596)	3.31
Options forfeited	(535,905)	20.11
Balances as of November 30, 2022	8,256,957	$	19.47	8.44	$	13,210
Options vested and expected to vest as of November 30, 2022(2)	8,279,203	$	19.43	8.44	$	13,322
Options exercisable as of November 30, 2022	3,629,383	$	16.14	7.65	$	12,473

____________________________


(1)			The aggregate intrinsic values were calculated as the pre-tax difference between the exercise price of stock options and the quoted market price of the Company’s common stock on November 30, 2022 for all in‑the‑money stock options. The total intrinsic value of stock options exercised during the years ended November 30, 2022 and 2021 was $4.5 million and $15.9 million, respectively.


(2)			Certain stock options granted by the Company prior to the date of IPO are exercisable at the date of grant, with unvested shares subject to repurchase by the Company in the event of the voluntary or involuntary termination of employment of the stockholder. Such exercises are recorded as a liability in the consolidated balance sheet and reclassified into equity as the options vest. As of November 30, 2022, a total of 22,246 shares of common stock were subject to repurchase by the Company at the lower of (i) the fair value of such shares on the date of repurchase, or (ii) the original exercise price of such shares. The corresponding exercise value of $0.2 million as of November 30, 2022 is recorded as a stock-based compensation liability.

Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair value of options granted during the years ended November 30, 2022 and 2021 was estimated using the Black-Scholes option pricing model on the grant date using the following assumptions:


	November 30,
	2022	2021
Expected term (years)	5.50 - 6.07	5.50 - 6.12
Expected volatility	70% - 74%	70% - 79%
Risk-free interest rate	1.31% - 4.22%	0.52% - 1.24%
Dividend yield	0%	0%

Summary of RSU Activity

RSU activity under the Stock Plans is set forth below:


	Number of RSUs	Weighted-average grant date fair value
Balances as of November 30, 2021	20,000	$	27.42
RSUs granted	858,582	19.11
RSUs vested	(46,028)	20.40
RSUs forfeited	(47,730)	23.62
Balances as of November 30, 2022	784,824	$	18.97

Summary of ESPP Assumptions

The fair value of ESPP granted during the years ended November 30, 2022 and 2021 was estimated using the Black-Scholes option pricing model on the grant date using the following assumptions:


	November 30,
	2022	2021
Expected term (years)	0.5	0.5
Expected volatility	70% - 101%	60% - 75%
Risk-free interest rate	0.67% - 3.12%	0.05% - 0.06%
Dividend yield	0%	0%

Summary of Stock-Based Compensation Expense Related to Stock Options RSUs and ESPP Included in Statements of Operations

Stock-based compensation expense related to the Stock Plans and the ESPP that is included in the Company’s consolidated statements of operations is as follows (in thousands):


	Year Ended November 30,
	2022		2021
Research and development	$	16,808	$	8,079
General and administrative	11,323		7,721
Total stock-based compensation	$	28,131	$	15,800

Income Taxes (Tables)

12 Months Ended

Nov. 30, 2022

Income Tax Disclosure [Abstract]

Components of Loss Before Income Taxes

Loss before provision for income taxes includes the following component (in thousands):


	November 30,
	2022		2021
Domestic	$	(180,360)	$	(117,063)
	$	(180,360)	$	(117,063)

Components of Provision for (Benefit from) Income Taxes

The provision for income taxes consists of the following (in thousands):


	November 30,
	2022		2021
Current:
Federal	$	—	$	(203)
State	—		334
Total provision for income taxes	$	—	$	131

Reconciliation of Statutory U.S. Federal Rate and Effective Rate

The effective tax rate differs from the federal statutory rate as follows:


	November 30,
	2022		2021
Federal statutory income tax rate	21.0	%	21.0	%
State income tax rate	5.9		5.0
Research and development tax credits	3.5		4.5


Stock-based compensation	(2.0)		(1.2)
Change in valuation allowance	(28.4)		(29.3)
Other	—		(0.1)
Total	—	%	(0.1)	%

Significant Components of Deferred Tax Assets for Federal and State Income Taxes

Significant components of the deferred tax assets for federal and state income taxes are as follows (in thousands):


	Year ended November 30,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	83,775	$	41,081
Research and development tax credits	27,096		17,502
Deferred revenue	19,950		21,874
Stock-based compensation	3,846		1,054
Accrued expenses and other liabilities	3,797		1,896
Operating lease liabilities	3,199		3,436
Gross deferred tax assets	141,663		86,843
Valuation allowance	(138,362)		(83,517)
Total deferred tax assets	3,301		3,326
Deferred tax liabilities:
Operating lease right-of-use assets	(3,301)		(3,326)
Total deferred tax liabilities	(3,301)		(3,326)
Net deferred tax assets	$	—	$	—

Reconciliation of Beginning and Ending Amounts of Unrecognized Income Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized income tax benefits during the years ended November 30, 2022 and 2021 is as follows (in thousands):


	Years ended November 30,
	2022		2021
Balance at beginning of period	$	6,331	$	5,361
Additions based on tax positions related to prior period	—		1
Additions based on tax positions related to current period	3,930		2,282
Settlements	—		(1,313)
Balance at end of period	$	10,261	$	6,331

Net Loss Per Share (Tables)

12 Months Ended

Nov. 30, 2022

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss per Share


	Year Ended November 30,
	2022		2021
Numerator:
Net loss	$	(180,360)	$	(117,194)
Denominator:
Weighted-average number of shares outstanding, basic and diluted (1)	48,607,990		42,895,383
Net loss per share, basic and diluted	$	(3.71)	$	(2.73)


(1)			The shares underlying the pre-funded warrants to purchase an aggregate of 6,814,920 shares of the Company’s common stock have been included in the calculation of the weighted-average number of shares outstanding, basic and diluted, for the year ended November 30, 2022.

Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss per Share of Common Stock


	Years ended November 30,
	2022	2021
Options to purchase common stock issued and outstanding	8,256,957	5,878,552
Options early exercised subject to vesting	22,246	58,794
Restricted stock units issued and outstanding	784,824	20,000
Shares expected to be purchased under employee stock purchase plan	123,194	50,882
Total	9,187,221	6,008,228

Organization- Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended				12 Months Ended
	Jul. 28, 2020	Jul. 31, 2022	Jun. 30, 2022	Mar. 31, 2021	Jul. 31, 2020	Nov. 30, 2022	Nov. 30, 2021	Aug. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock (in shares)						47,172,299	44,664,371
Proceeds from issuance of common stock						$ 19,400	$ 150,157
Common stock, capital shares reserved for future issuance (in shares)						18,016,515	9,476,306
Proceeds from issuances of pre-funded warrants, net of issuance costs						$ 94,759	$ 0
Accumulated deficit						(401,252)	$ (220,892)
Cash and cash equivalents and short-term investments						309,100
Working capital						$ 247,800
Pre-funded warrants issued and outstanding
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		6,814,920				6,814,920	0
Warrant price (in USD per share)		$ 13.939
Equity Distribution Agreement \| Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity distribution agreement, value of common stock available for Issuance								$ 450,000
IPO
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of shares issued (in shares)	11,000,000
Stock issued (in USD per share)	$ 19.00
Net proceeds from offering	$ 218,100
Underwriting discounts and commissions	16,700
Stock offering expenses	$ 3,600
Underwriters
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of shares issued (in shares)				675,000	1,550,000
Follow-on Offering
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of shares issued (in shares)				5,175,000
Stock issued (in USD per share)				$ 31.00
Net proceeds from offering				$ 150,200
Underwriting discounts and commissions				9,600
Stock offering expenses				$ 600
At the Market Offering \| Equity Distribution Agreement \| Piper Sandler & Co.
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of shares issued (in shares)			2,000,000
Stock issued (in USD per share)			$ 10.0001
Equity distribution agreement, value of common stock available for Issuance						$ 130,000
Common stock (in shares)								0
Equity distribution agreement, commission percentage on gross sales price of shares								3.00%
Proceeds from issuance of common stock			$ 19,300
At the Market Offering \| Equity Distribution Agreement \| Maximum \| Piper Sandler & Co.
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity distribution agreement, value of common stock available for Issuance								$ 150,000
Registered direct offerings member \| Pre-funded warrants issued and outstanding
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		6,814,920
Warrant price (in USD per share)		$ 13.939
Proceeds from issuances of pre-funded warrants, net of issuance costs		$ 94,800
Warrants offering expenses		$ 200

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Nov. 30, 2022 USD ($) Segment	Nov. 30, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments \| Segment	1
Number of operating segments \| Segment	1
Restricted cash	$ 901,000	$ 286,000
Property and equipment, useful life	3 years
Impairment losses	$ 0	0
Deferred offering costs	$ 500,000	500,000
Internal-Use Software Development Costs
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, useful life	3 years
Collateral for Business Credit Card Account
Summary Of Significant Accounting Policies [Line Items]
Restricted cash	$ 100,000	100,000
Letters of Credit for Operating Lease
Summary Of Significant Accounting Policies [Line Items]
Restricted cash	$ 800,000	$ 200,000

Collaboration Agreements - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended		24 Months Ended	30 Months Ended
	Jul. 31, 2022	Jan. 31, 2021	Dec. 31, 2019	Jun. 30, 2019	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2021	Nov. 30, 2021
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration revenue					$ 38,627	$ 29,750
Deferred revenue, current					37,633	41,212	$ 41,212	$ 41,212
Gilead Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront payment				$ 45,000
Upfront payment of additional fees				$ 3,000
Research milestones payments received								34,500
Variable consideration included in transaction price					$ 34,500
Collaboration agreement contract term (in years)					5 years
Collaboration revenue					$ 23,700	16,600
Collaboration revenue recognized from opening contract liability					18,400	11,100
Performance obligation satisfied					4,000	3,100
Recorded deferred revenue					27,400	41,100	41,100	41,100
Deferred revenue, current					18,200	19,900	19,900	19,900
Accounts receivable						6,000	6,000	6,000
Gilead Agreement \| Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total additional payments receivable					2,300,000
Development milestone payments, receivable					667,500
Sales milestone payments, receivable					1,500,000
Additional fees receivable related to target licensing, reservation and selection and research term extensions					136,800
Sanofi Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront payment			$ 55,000		55,000
Research milestones payments received							3,000
Variable consideration included in transaction price					4,000
Collaboration revenue					15,000
Collaboration revenue recognized from opening contract liability					14,000	13,000
Performance obligation satisfied					600	100
Recorded deferred revenue					46,200	59,200	59,200	59,200
Deferred revenue, current					19,400	21,300	$ 21,300	$ 21,300
Additional payment received to exercise option to expand number of targets		$ 22,000
Payment received to exercise option to expand number of targets		$ 22,000
Collaborative agreement expected transaction price					77,000
Collaborative agreement additional transaction price					22,000
Additional variable consideration included in transaction price					$ 1,000
Contractual initial research period (in years)	5 years 3 months				4 years 3 months
Revenue from contract with a customer						$ 13,200
Contract assets					$ 1,000
Sanofi Agreement \| Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Development milestone payments, receivable					496,000
Sales milestone payments, receivable					1,300,000
Milestone payments additional fees, total					2,500,000
Regulatory milestone payments, receivable					625,000
Additional fees receivable related to target licensing and reservation					$ 126,500

Consolidated Balance Sheet Components - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Property Plant And Equipment [Line Items]
Total property and equipment, gross	$ 36,833	$ 26,219
Less: Accumulated depreciation and amortization	(19,670)	(14,879)
Total property and equipment, net	17,163	11,340
Depreciation and amortization	5,349	2,790
Laboratory equipment
Property Plant And Equipment [Line Items]
Total property and equipment, gross	26,385	18,321
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment, gross	3,825	3,083
Computer equipment
Property Plant And Equipment [Line Items]
Total property and equipment, gross	786	538
Furniture and fixtures
Property Plant And Equipment [Line Items]
Total property and equipment, gross	452	437
Software
Property Plant And Equipment [Line Items]
Total property and equipment, gross	4,688	3,349
Depreciation and amortization	1,200	800
Software in progress
Property Plant And Equipment [Line Items]
Total property and equipment, gross	$ 697	$ 491

Consolidated Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 5,349	$ 2,790
Property Plant And Equipment [Line Items]
Depreciation and amortization	5,349	2,790
Software
Property, Plant and Equipment [Abstract]
Depreciation and amortization	1,200	800
Property Plant And Equipment [Line Items]
Depreciation and amortization	$ 1,200	$ 800

Consolidated Balance Sheet Components - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2022	Nov. 30, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Accrued compensation	$ 13,164	$ 8,854
Accrued contract research and lab supplies	6,426	4,158
Accrued professional services	1,250	803
Accrued taxes	85	75
Other	1,503	659
Total accrued expenses and other current liabilities	$ 22,428	$ 14,549

Fair Value Measurements - Summary of Investments Fair Value Measurement on Recurring Basis (Details) - Fair Value Measurements, Recurring - USD ($) $ in Thousands	Nov. 30, 2022	Nov. 30, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost	$ 372,317	$ 426,449
Unrealized gain	1	11
Unrealized loss	(4,320)	(619)
Estimated fair value	367,998	425,841
Included in cash and cash equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost	59,452	73,438
Unrealized gain	0	0
Unrealized loss	0	0
Estimated fair value	59,452	73,438
Included in marketable securities, current
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost	247,293	215,280
Unrealized gain	0	11
Unrealized loss	(2,626)	(77)
Estimated fair value	244,667	215,214
Included in marketable securities, non-current
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost	65,572	137,731
Unrealized gain	1	0
Unrealized loss	(1,694)	(542)
Estimated fair value	63,879	137,189
Level 1 \| Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term	59,452	73,438
Unrealized gain, short-term	0	0
Unrealized loss, short-term	0	0
Estimated fair value, short-term	59,452	73,438
Level 1 \| U.S. treasury securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term	75,322	20,608
Amortized cost, long-term	5,779	39,932
Unrealized gain, short-term	0	0
Unrealized gain, long-term	0	0
Unrealized loss, short-term	1,120	9
Unrealized loss, long-term	98	85
Estimated fair value, short-term	74,202	20,599
Estimated fair value, long-term	5,681	39,847
Level 2 \| Corporate debt securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term	81,026	46,599
Amortized cost, long-term	3,492	74,334
Unrealized gain, short-term	0	1
Unrealized gain, long-term	0	0
Unrealized loss, short-term	1,279	54
Unrealized loss, long-term	217	365
Estimated fair value, short-term	79,747	46,546
Estimated fair value, long-term	3,275	73,969
Level 2 \| U.S. government agency securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term	8,998	16,496
Amortized cost, long-term	56,301	16,236
Unrealized gain, short-term	0	1
Unrealized gain, long-term	1	0
Unrealized loss, short-term	135	14
Unrealized loss, long-term	1,379	67
Estimated fair value, short-term	8,863	16,483
Estimated fair value, long-term	54,923	16,169
Level 2 \| Corporate commercial paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term	74,896	121,495
Unrealized gain, short-term	0	0
Unrealized loss, short-term	0	0
Estimated fair value, short-term	74,896	121,495
Level 2 \| Foreign government securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term	7,051
Unrealized gain, short-term	0
Unrealized loss, short-term	92
Estimated fair value, short-term	$ 6,959
Level 2 \| Municipal securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, short-term		10,082
Unrealized gain, short-term		9
Unrealized loss, short-term		0
Estimated fair value, short-term		10,091
Level 2 \| Municipal securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized cost, long-term		7,229
Unrealized gain, long-term		0
Unrealized loss, long-term		25
Estimated fair value, long-term		$ 7,204

Fair Value Measurements - Additional Information (Details) - USD ($)	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt securities term (in years)	2 years
Transfer of financial instruments between valuation levels	$ 0	$ 0
Allowance for credit losses	0
Impairment losses related to investments	0	0
Fair Value Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unrealized gain	1,000	11,000
Prepaid Expenses and Other Current Assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Accrued interest receivable	$ 1,100,000	$ 900,000

Commitments and Contingencies - Additional Information (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2022 USD ($) ft² terms	Nov. 30, 2022 USD ($) ft²	Nov. 30, 2021 USD ($)	Jul. 31, 2021 ft²
Operating Leased Assets [Line Items]
Area of office space leased \| ft²	46,434	57,902		19,320
Operating lease right-of-use assets		$ 12,345,000	$ 14,005,000
Additional lease terms \| terms	2
Operating lease, renewal term	5 years	2 years
Rent payable per month	$ 205,000
Percentage of increase of rent per year	3.00%
Minimum monthly rent payment	$ 154,000
Total operating lease, expense		$ 5,900,000	3,800,000
Operating lease, weighted average remaining lease term		2 years 2 months 12 days
Operating lease, weighted average discount rate, percent		2.98%
San Francisco, California
Operating Leased Assets [Line Items]
Operating lease right-of-use assets		$ 1,200,000	$ 300,000

Commitments and Contingencies - Summary of Operating Expense and Sublease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Cash flows from operating leases	$ 6,578	$ 4,026
Right-of-use assets recognized in exchange for lease obligations		$ 5,068	$ 2,371

Commitments and Contingencies - Schedule of Undiscounted Future Non-cancellable Lease Payments (Details) - USD ($) $ in Thousands	Nov. 30, 2022	Nov. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
2023	$ 6,980
2024	7,422
2025	4,330
2026	2,670
2027	2,750
2028 to 2035	22,556
Total operating lease liabilities	46,708
Less: imputed interest	(430)
Less: undiscounted lease payments related to the lease in The Woodlands, Texas	34,314
Total operating lease liabilities	11,964
Operating lease liabilities, current	5,530	$ 3,847
Operating lease liabilities, net of current portion	$ 6,434	$ 9,189

Common Stock - Additional Information (Details) - $ / shares	1 Months Ended	12 Months Ended
	Jul. 31, 2022	Nov. 30, 2022	Nov. 30, 2021
Class Of Stock [Line Items]
Common stock, shares authorized to issue		500,000,000	500,000,000
Common stock, par value (in USD per share)		$ 0.001	$ 0.001
Common stock, voting rights		one
Common stock, capital shares reserved for future issuance (in shares)		18,016,515	9,476,306
Pre-funded warrants issued and outstanding
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	6,814,920	6,814,920	0
Warrant price (in USD per share)	$ 13.939
Pre-funded warrants exercisable price (in USD per share)	$ 0.001
Minimum common stock holding percentage	9.99%
Maximum increase or decrease percentage of warrants	19.99%

Common Stock - Schedule of Common Stock Shares Reserved for Future Issuance (Details) - shares	Nov. 30, 2022	Jul. 31, 2022	Nov. 30, 2021
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	18,016,515		9,476,306
Pre-funded warrants issued and outstanding
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	6,814,920	6,814,920	0
Shares available for issuance under employee stock purchase plan
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	1,325,523		1,015,184
Options to purchase common stock issued and outstanding
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	8,256,957		5,878,552
Shares available for future stock option grants
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	834,291		2,562,570
Restricted stock units issued and outstanding
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	784,824		20,000

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for future issuance (in shares)	18,016,515	9,476,306
Weighted-average grant date fair value of options granted (in USD per share)	$ 11.80	$ 21.15
Expected dividend yield, percentage	0.00%
Capitalized stock-based compensation related to internal-use software development	$ 69	$ 0
Total compensation cost related to stock-based awards yet to recognize	$ 79,300
Total compensation cost related to stock-based awards, recognition period	2 years 8 months 23 days
Software Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capitalized stock-based compensation related to internal-use software development	$ 69	$ 0
Restricted stock units issued and outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for future issuance (in shares)	784,824	20,000
Weighted-average grant date fair value, RSUs granted (in USD per share)	$ 19.11	$ 27.42
Fair value of RSUs vested	$ 900	$ 0
2020 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of options granted, years	4 years
Common stock shares reserved for future issuance (in shares)	834,291
2020 Equity Incentive Plan \| Incentive Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award expiration period, years	5 years
2020 Equity Incentive Plan \| Restricted stock units issued and outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award expiration period, years	10 years
2020 Equity Incentive Plan \| Minimum \| Incentive Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of total combined voting power of common stock, percent	10.00%
Percentage of fair value on grant date, percent	110.00%
2020 Equity Incentive Plan \| Minimum \| Non-statutory Stock Options and Options Granted to Consultants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of fair value on grant date, percent	100.00%
2020 Equity Incentive Plan \| Minimum \| Restricted stock units issued and outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of options granted, years	2 years
2020 Equity Incentive Plan \| Maximum \| Restricted stock units issued and outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of options granted, years	4 years
2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of fair value on grant date, percent	85.00%
Common stock shares reserved for future issuance (in shares)	1,325,523
Shares issued (in shares)	136,304
Weighted-average price per share (in USD per share)	$ 14.34
Expected dividend yield, percentage	0.00%	0.00%

Stock-Based Compensation - Schedule of Option Activity under the Stock Plans (Details) - Options to purchase common stock issued and outstanding - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Number of RSUs
Number of options outstanding, beginning balance (in shares)	5,878,552
Number of options outstanding, options granted (in shares)	3,239,906
Number of options outstanding, options exercised (in shares)	(325,596)
Number of options outstanding, options forfeited (in shares)	(535,905)
Number of options outstanding, ending balance (in shares)	8,256,957	5,878,552
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price, beginning balance (in USD per share)	$ 19.42
Weighted-average exercise price, options granted (in USD per share)	18.03
Weighted-average exercise price, options exercised (in USD per share)	3.31
Weighted-average exercise price, options forfeited (in USD per share)	20.11
Weighted-average exercise price, ending balance (in USD per share)	$ 19.47	$ 19.42
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Options vested and expected to vest as of November 30, 2022 (in shares)	8,279,203
Options exercisable as of November 30, 2022 (in shares)	3,629,383
Weighted-average exercise price, options vested and expected to vest as of November 30, 2022 (in USD per share)	$ 19.43
Weighted-average exercise price, options exercisable as of November 30, 2022 (in USD per share)	$ 16.14
Weighted-average contractual life (in years)	8 years 5 months 8 days	8 years 8 months 1 day
Weighted-average contractual life, options vested and expected to vest as of November 30, 2022 (in years)	8 years 5 months 8 days
Weighted-average contractual life, options exercisable as of November 30, 2022 (in years)	7 years 7 months 24 days
Aggregate intrinsic value, beginning balance	$ 65,692
Aggregate intrinsic value, ending balance	13,210	$ 65,692
Aggregate intrinsic value, options vested and expected to vest as of November 30, 2022	13,322
Aggregate intrinsic value, options exercisable as of November 30, 2022	$ 12,473

Stock-Based Compensation - Schedule of Option Activity under the Stock Plans Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Share-Based Payment Arrangement [Abstract]
Total intrinsic value of stock options exercised	$ 4.5	$ 15.9
Shares subject to repurchase	22,246
Exercise value of shares subject to repurchase	$ 0.2

Stock-Based Compensation - Schedule of RSU Activity (Details) - Restricted stock units issued and outstanding - $ / shares	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Number of RSUs
Number of RSUs, beginning balance (in shares)	20,000
RSUs granted (in shares)	858,582
RSUs vested (in shares)	(46,028)
RSUs forfeited (in shares)	(47,730)
Number of RSUs, ending balance (in shares)	784,824	20,000
Weighted-average grant date fair value
Weighted-average grant date fair value, beginning balance (in USD per share)	$ 27.42
Weighted-average grant date fair value, RSUs granted (in USD per share)	19.11	$ 27.42
Weighted-average grant date fair value, RSUs vested (in USD per share)	20.40
Weighted-average grant date fair value, RSUs forfeited (in USD per share)	23.62
Weighted-average grant date fair value, ending balance (in USD per share)	$ 18.97	$ 27.42

Stock-Based Compensation - Summary of Estimated Fair Value of Stock Options and ESPP using the Assumptions (Details)	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Dividend yield	0.00%
ESPP
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (years)	6 months	6 months
Risk-free interest rate	3.12%
Dividend yield	0.00%	0.00%
ESPP \| Minimum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected volatility	70.00%	60.00%
Risk-free interest rate	0.67%	0.05%
ESPP \| Maximum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected volatility	101.00%	75.00%
Risk-free interest rate		0.06%
Options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected volatility, minimum	70.00%	70.00%
Expected volatility, maximum	74.00%	79.00%
Risk-free interest rate, minimum	1.31%	0.52%
Risk-free interest rate, maximum	4.22%	1.24%
Dividend yield	0.00%	0.00%
Options \| Minimum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (years)	5 years 6 months	5 years 6 months
Options \| Maximum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (years)	6 years 25 days	6 years 1 month 13 days

Stock-Based Compensation - Summary of Stock-Based Compensation Expense Related to Stock Options RSUs and ESPP Included in Statements of Operations (Details) - Stock Option, RSUs and ESPP - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 28,131	$ 15,800
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	16,808	8,079
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 11,323	$ 7,721

Defined Contribution Plan - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Retirement Benefits [Abstract]
Contribution expense	$ 0.9	$ 0.7

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2020
Income Tax Examination [Line Items]
Current income tax expense (benefit)	$ 0	$ 100,000
Increase in valuation allowance	54,800,000	36,100,000
Net operating loss unutilized amount	400,000
Unrecognized tax benefits	10,261,000	6,331,000	$ 5,361,000
Unrecognized tax benefits that would impact effective tax rate	0
Interest and penalties accrued	0
Decrease in R&D credit carryforward	$ 1,300,000
CARES act of 2020, net operating loss carryback refund claim		$ 19,600,000
CARES act of 2020, net operating loss carryback period	5 years
Federal
Income Tax Examination [Line Items]
NOL carryforwards	$ 276,300,000
Net operating losses carry forward period	20 years
NOL carryforwards, expiration year	2029
NOL carryforwards, indefinitely	$ 272,900,000
Period open for examination	3 years
Federal \| Research
Income Tax Examination [Line Items]
Tax credit carryforwards	$ 22,100,000
Credit carryforwards, expiration year	2032
State Authorities
Income Tax Examination [Line Items]
NOL carryforwards	$ 299,600,000
NOL carryforwards, expiration year	2029
Period open for examination	4 years
State Authorities \| Research
Income Tax Examination [Line Items]
Tax credit carryforwards	$ 15,200,000
Credit carryforwards, expiration period	indefinitely

Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (180,360)	$ (117,063)
Loss before income taxes	$ (180,360)	$ (117,063)

- Definition

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

+ References

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Income Taxes - Components of Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Current:
Federal	$ 0	$ (203)
State	0	334
Total provision for income taxes	$ 0	$ 131

- Definition

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

+ References + Details

Income Taxes - Effective Tax Rate Differs from Federal Statutory Rate (Details)	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%
State income tax rate	5.90%	5.00%
Research and development tax credits	3.50%	4.50%
Stock-based compensation	(2.00%)	(1.20%)
Change in valuation allowance	(28.40%)	(29.30%)
Other	0.00%	(0.10%)
Total	0.00%	(0.10%)

Income Taxes - Significant Components of Deferred Tax Assets for Federal and State Income Taxes (Details) - USD ($) $ in Thousands	Nov. 30, 2022	Nov. 30, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 83,775	$ 41,081
Research and development tax credits	27,096	17,502
Deferred revenue	19,950	21,874
Stock-based compensation	3,846	1,054
Accrued expenses and other liabilities	3,797	1,896
Operating lease liabilities	3,199	3,436
Gross deferred tax assets	141,663	86,843
Valuation allowance	(138,362)	(83,517)
Total deferred tax assets	3,301	3,326
Deferred tax liabilities:
Operating lease right-of-use assets	(3,301)	(3,326)
Total deferred tax liabilities	(3,301)	(3,326)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Reconciliation of Beginning and Ending Amounts of Unrecognized Income Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 6,331	$ 5,361
Additions based on tax positions related to prior period	0	1
Additions based on tax positions related to current period	3,930	2,282
Settlements	0	(1,313)
Balance at end of period	$ 10,261	$ 6,331

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Numerator:
Net loss	$ (180,360)	$ (117,194)
Denominator:
Weighted-average number of shares outstanding, diluted (in shares)	48,607,990	42,895,383
Weighted average number of shares outstanding, basic (in shares)	48,607,990	42,895,383
Net loss per share, diluted (in USD per share)	$ (3.71)	$ (2.73)
Net loss per share, basic (in USD per share)	$ (3.71)	$ (2.73)

- Definition

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

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- Definition

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

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- Definition

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

+ References

+ Details

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Loss per Share Narrative (Details) - shares	Nov. 30, 2022	Jul. 31, 2022	Nov. 30, 2021
Class of Warrant or Right [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	18,016,515		9,476,306
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	18,016,515		9,476,306
Pre-funded warrants issued and outstanding
Class of Warrant or Right [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	6,814,920	6,814,920	0
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	6,814,920	6,814,920	0
Pre-funded warrants issued and outstanding \| Registered direct offerings member
Class of Warrant or Right [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		6,814,920
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		6,814,920

Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss per Share of Common Stock (Details) - shares	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	9,187,221	6,008,228
Shares expected to be purchased under employee stock purchase plan
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	123,194	50,882
Options to purchase common stock issued and outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	8,256,957	5,878,552
Options early exercised subject to vesting
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	22,246	58,794
Restricted stock units issued and outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	784,824	20,000

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
Healthcare Plan Provider \| Chief Financial Officer
Related Party Transaction [Line Items]
Expenses related to healthcare plan premiums	$ 4.0	$ 2.6