v3.25.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (27,377) $ (21,789)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 187 207
Stock-based compensation expense 3,048 2,303
Amortization of right-of-use assets 270 269
Accretion of discounts on short-term investments, net (438) (283)
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivable 247 (163)
Prepaid expenses and other current assets 388 696
Other assets (332) 8
Accounts payable and accrued liabilities 3,223 2,088
Operating lease liabilities (338) (306)
Net cash used in operating activities (21,122) (16,970)
Investing activities:    
Capital expenditures (26) (80)
Maturities of short-term investments 35,020 12,505
Purchases of short-term investments (55,797) (919)
Sales of short-term investments 1,236 7,145
Net cash provided by (used in) investing activities (19,567) 18,651
Financing activities:    
Proceeds from sales of common stock, net of expenses of $0 and $197, respectively   1,805
Proceeds from exercise of options 3 360
Net cash provided by financing activities 3 2,165
Net change in cash and cash equivalents (40,686) 3,846
Cash and cash equivalents—Beginning of period 51,470 21,655
Cash and cash equivalents—End of period 10,784 $ 25,501
Supplemental disclosure of non-cash investing activities:    
Acquisition of property and equipment included in accounts payable and accrued liabilities $ 6