v3.25.2
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($)
$ in Thousands
Total
At-The-Market Offering
Follow-On Offering
License And Collaboration Agreement
Common Stock
Common Stock
At-The-Market Offering
Common Stock
Follow-On Offering
Common Stock
License And Collaboration Agreement
Additional Paid-In Capital
Additional Paid-In Capital
At-The-Market Offering
Additional Paid-In Capital
Follow-On Offering
Additional Paid-In Capital
License And Collaboration Agreement
Accumulated Deficit
Accumulated Other Comprehensive Gain (Loss)
Beginning balance (in shares) at Dec. 31, 2023         8,791,877                  
Beginning balance at Dec. 31, 2023 $ 69,669       $ 13       $ 723,577       $ (653,921) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Stock-based compensation expense 14,475               14,475          
Issuance of common stock (in shares)           209,852 3,802,025 443,253            
Issuance of common stock   $ 6,169 $ 161,649 $ 17,265           $ 6,169 $ 161,649 $ 17,265    
Vesting of restricted stock awards (in shares)         11,095                  
Shares withheld for taxes for vesting of restricted stock units (in shares)         (3,689)                  
Shares withheld for taxes for vesting of restricted stock units (137)               (137)          
Issuance of common stock upon exercise of stock options (in shares)         3,634                  
Issuance of common stock upon exercise of stock options 143               143          
Change in unrealized gain on marketable securities, net of tax 3                         3
Net loss (39,553)                       (39,553)  
Ending balance (in shares) at Mar. 31, 2024         13,258,047                  
Ending balance at Mar. 31, 2024 229,683       $ 13       923,141       (693,474) 3
Beginning balance (in shares) at Dec. 31, 2023         8,791,877                  
Beginning balance at Dec. 31, 2023 69,669       $ 13       723,577       (653,921) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Change in unrealized gain on marketable securities, net of tax (71)                          
Net loss (72,230)                          
Ending balance (in shares) at Jun. 30, 2024         17,755,506                  
Ending balance at Jun. 30, 2024 419,100       $ 14       1,145,308       (726,151) (71)
Beginning balance (in shares) at Dec. 31, 2023         8,791,877                  
Beginning balance at Dec. 31, 2023 $ 69,669       $ 13       723,577       (653,921) 0
Ending balance (in shares) at Dec. 31, 2024 19,422,358       19,422,358                  
Ending balance at Dec. 31, 2024 $ 445,450       $ 14       1,281,522       (836,740) 654
Beginning balance (in shares) at Mar. 31, 2024         13,258,047                  
Beginning balance at Mar. 31, 2024 229,683       $ 13       923,141       (693,474) 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Stock-based compensation expense 5,878               5,878          
Issuance of common stock (in shares)             3,849,558              
Issuance of common stock     $ 215,988       $ 1       $ 215,987      
Issuance of common stock under employee stock purchase plan (in shares)         25,146                  
Issuance of common stock under employee stock purchase plan 311               311          
Issuance of common stock from exercise of pre-funded warrants (in shares)         622,123                  
Vesting of restricted stock awards (in shares)         726                  
Shares withheld for taxes for vesting of restricted stock units (in shares)         (242)                  
Shares withheld for taxes for vesting of restricted stock units (13)               (13)          
Issuance of common stock upon exercise of stock options (in shares)         148                  
Issuance of common stock upon exercise of stock options 4               4          
Change in unrealized gain on marketable securities, net of tax (74)                         (74)
Net loss (32,677)                       (32,677)  
Ending balance (in shares) at Jun. 30, 2024         17,755,506                  
Ending balance at Jun. 30, 2024 $ 419,100       $ 14       1,145,308       (726,151) (71)
Beginning balance (in shares) at Dec. 31, 2024 19,422,358       19,422,358                  
Beginning balance at Dec. 31, 2024 $ 445,450       $ 14       1,281,522       (836,740) 654
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Stock-based compensation expense 8,786               8,786          
Issuance of common stock (in shares)           694,212                
Issuance of common stock   54,904               54,904        
Issuance of common stock from exercise of pre-funded warrants (in shares)         173,840                  
Vesting of restricted stock awards (in shares)         55,850                  
Shares withheld for taxes for vesting of restricted stock units (in shares)         (18,765)                  
Shares withheld for taxes for vesting of restricted stock units (1,195)               (1,195)          
Issuance of common stock upon exercise of stock options (in shares)         14,422                  
Issuance of common stock upon exercise of stock options 560               560          
Change in unrealized gain on marketable securities, net of tax 5                         5
Net loss (69,296)                       (69,296)  
Ending balance (in shares) at Mar. 31, 2025         20,341,917                  
Ending balance at Mar. 31, 2025 $ 439,214       $ 14       1,344,577       (906,036) 659
Beginning balance (in shares) at Dec. 31, 2024 19,422,358       19,422,358                  
Beginning balance at Dec. 31, 2024 $ 445,450       $ 14       1,281,522       (836,740) 654
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Issuance of common stock upon exercise of stock options (in shares) 14,422                          
Change in unrealized gain on marketable securities, net of tax $ (259)                          
Net loss $ (140,423)                          
Ending balance (in shares) at Jun. 30, 2025 21,040,474       21,040,474                  
Ending balance at Jun. 30, 2025 $ 404,224       $ 14       1,380,978       (977,163) 395
Beginning balance (in shares) at Mar. 31, 2025         20,341,917                  
Beginning balance at Mar. 31, 2025 439,214       $ 14       1,344,577       (906,036) 659
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Stock-based compensation expense 7,770               7,770          
Issuance of common stock (in shares)           657,477                
Issuance of common stock   $ 28,360               28,360        
Issuance of common stock under employee stock purchase plan (in shares)         9,319                  
Issuance of common stock under employee stock purchase plan 294                 $ 294        
Issuance of common stock from exercise of pre-funded warrants (in shares)         26,509                  
Vesting of restricted stock awards (in shares)         5,860                  
Shares withheld for taxes for vesting of restricted stock units (in shares)         (608)                  
Shares withheld for taxes for vesting of restricted stock units (23)               (23)          
Change in unrealized gain on marketable securities, net of tax (264)                         (264)
Net loss $ (71,127)                       (71,127)  
Ending balance (in shares) at Jun. 30, 2025 21,040,474       21,040,474                  
Ending balance at Jun. 30, 2025 $ 404,224       $ 14       $ 1,380,978       $ (977,163) $ 395