Supplementary Balance Sheet Information (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Investments Available-for-sale |
Investments available for sale consisted of the following:
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As of June 30, 2025 |
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(in thousands) |
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Amortized Cost |
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Gross Unrealized Gains |
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Gross Unrealized Losses |
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Fair Market Value |
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Maturity less than 1 year: |
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|
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Corporate debt securities |
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$ |
29,706 |
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|
$ |
14 |
|
|
$ |
(12 |
) |
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$ |
29,708 |
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Commercial paper |
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|
389 |
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|
|
— |
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|
|
— |
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|
|
389 |
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U.S. government agencies |
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|
2,086 |
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|
|
— |
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|
— |
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|
2,086 |
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U.S. treasury securities |
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|
18,204 |
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|
— |
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(6 |
) |
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|
18,198 |
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Total maturity less than 1 year |
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|
50,385 |
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14 |
|
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(18 |
) |
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|
50,381 |
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Maturity 1 to 2 years: |
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|
|
|
|
|
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Corporate debt securities |
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6,044 |
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18 |
|
|
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(1 |
) |
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|
6,061 |
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U.S. government agencies |
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2,529 |
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|
1 |
|
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(2 |
) |
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2,528 |
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U.S. treasury securities |
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|
1,198 |
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|
5 |
|
|
|
— |
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|
1,203 |
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Total maturity 1 to 2 years |
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|
9,771 |
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|
24 |
|
|
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(3 |
) |
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|
9,792 |
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Total short-term investments |
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$ |
60,156 |
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|
$ |
38 |
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|
$ |
(21 |
) |
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$ |
60,173 |
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As of December 31, 2024 |
|
(in thousands) |
|
Amortized Cost |
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|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Fair Market Value |
|
Maturity less than 1 year: |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt securities |
|
$ |
17,192 |
|
|
$ |
27 |
|
|
$ |
(1 |
) |
|
$ |
17,218 |
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Commercial paper |
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|
312 |
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|
1 |
|
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|
— |
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|
313 |
|
U.S. treasury securities |
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|
16,475 |
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3 |
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(4 |
) |
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|
16,474 |
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Total maturity less than 1 year |
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|
33,979 |
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31 |
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(5 |
) |
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34,005 |
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Maturity 1 to 2 years: |
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Corporate debt securities |
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6,263 |
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11 |
|
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(3 |
) |
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|
6,271 |
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Total maturity 1 to 2 years |
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|
6,263 |
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|
11 |
|
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(3 |
) |
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6,271 |
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|
|
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Total short-term investments |
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$ |
40,242 |
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|
$ |
42 |
|
|
$ |
(8 |
) |
|
$ |
40,276 |
|
|
| Schedule of Components of Property and Equipment |
Property and equipment consisted of the following:
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(in thousands) |
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As of June 30,
2025 |
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As of December 31,
2024 |
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Furniture and office equipment |
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$ |
1,053 |
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$ |
1,053 |
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Leasehold improvements |
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|
2,568 |
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|
2,568 |
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Laboratory equipment |
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1,446 |
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|
1,414 |
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Property and equipment, gross |
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|
5,067 |
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|
5,035 |
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Less—accumulated depreciation |
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(4,324 |
) |
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(4,137 |
) |
Property and equipment, net |
|
$ |
743 |
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|
$ |
898 |
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| Schedule of Accrued Liabilities |
Accrued liabilities consisted of the following:
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(in thousands) |
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As of June 30,
2025 |
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As of December 31,
2024 |
|
Clinical trials |
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$ |
7,125 |
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$ |
4,443 |
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Accrued compensation |
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|
2,245 |
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|
2,746 |
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Research agreements and services |
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|
365 |
|
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|
478 |
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Other accrued liabilities |
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|
203 |
|
|
|
230 |
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Total accrued liabilities |
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$ |
9,938 |
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$ |
7,897 |
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| Depreciation Expense for Property and Equipment |
Depreciation expense for property and equipment recognized in operating results are as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
|
2025 |
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|
2024 |
|
Total depreciation expense |
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$ |
94 |
|
|
$ |
105 |
|
|
$ |
187 |
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|
$ |
207 |
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