v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
January 2024 Public Offering
September 2022 ATM Agreement
Series A Convertible Preferred Stock
Series B Convertible Preferred Stock
Convertible Preferred Stock
Series A Convertible Preferred Stock
Convertible Preferred Stock
Series B Convertible Preferred Stock
Common Stock
Common Stock
January 2024 Public Offering
Common Stock
September 2022 ATM Agreement
Additional Paid-in Capital
Additional Paid-in Capital
January 2024 Public Offering
Additional Paid-in Capital
September 2022 ATM Agreement
Accumulated Other Comprehensive Gain (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023           172,435 143,522                
Beginning balance at Dec. 31, 2023 $ 442,022         $ 78,235 $ 128,281 $ 540     $ 960,536     $ 338 $ (725,908)
Beginning balance (in shares) at Dec. 31, 2023               53,986,112              
Stockholders’ deficit                              
Issuance of common stock, net of issuance costs (in shares)                 7,142,858 1,561,570          
Issuance of common stock, net of issuance costs   $ 140,696 $ 35,177           $ 71 $ 15   $ 140,625 $ 35,162    
Issuance of common stock upon the conversion of convertible preferred stock (in shares)           (15,000)   1,000,048              
Issuance of common stock upon the conversion of convertible preferred stock 0         $ (6,806)   $ 10     6,796        
Issuance of common stock for exercises of stock options (in shares)               66,191              
Issuance of common stock for exercises of stock options 838             $ 1     837        
Issuance of common stock for cash under employee stock purchase plan (in shares)               22,642              
Issuance of common stock for cash under employee stock purchase plan 356                   356        
Vesting of restricted stock units (in shares)               19,115              
Vesting of restricted stock units 0             $ 1     (1)        
Share-based compensation expense 12,688                   12,688        
Change in unrealized gain (loss) on investments (705)                         (705)  
Net loss (48,542)                           (48,542)
Ending balance (in shares) at Mar. 31, 2024           157,435 143,522                
Ending balance at Mar. 31, 2024 582,530         $ 71,429 $ 128,281 $ 638     1,156,999     (367) (774,450)
Ending balance (in shares) at Mar. 31, 2024               63,798,536              
Beginning balance (in shares) at Dec. 31, 2023           172,435 143,522                
Beginning balance at Dec. 31, 2023 442,022         $ 78,235 $ 128,281 $ 540     960,536     338 (725,908)
Beginning balance (in shares) at Dec. 31, 2023               53,986,112              
Stockholders’ deficit                              
Change in unrealized gain (loss) on investments (881)                            
Net loss (113,535)                            
Ending balance (in shares) at Jun. 30, 2024           157,435 143,522                
Ending balance at Jun. 30, 2024 529,338         $ 71,429 $ 128,281 $ 639     1,168,975     (543) (839,443)
Ending balance (in shares) at Jun. 30, 2024               63,879,675              
Beginning balance (in shares) at Mar. 31, 2024           157,435 143,522                
Beginning balance at Mar. 31, 2024 582,530         $ 71,429 $ 128,281 $ 638     1,156,999     (367) (774,450)
Beginning balance (in shares) at Mar. 31, 2024               63,798,536              
Stockholders’ deficit                              
Issuance of common stock for exercises of stock options (in shares)               81,139              
Issuance of common stock for exercises of stock options 210             $ 1     209        
Share-based compensation expense 11,767                   11,767        
Change in unrealized gain (loss) on investments (176)                         (176)  
Net loss (64,993)                           (64,993)
Ending balance (in shares) at Jun. 30, 2024           157,435 143,522                
Ending balance at Jun. 30, 2024 529,338         $ 71,429 $ 128,281 $ 639     1,168,975     (543) (839,443)
Ending balance (in shares) at Jun. 30, 2024               63,879,675              
Beginning balance (in shares) at Dec. 31, 2024       134,864 145,160 134,864 145,160                
Beginning balance at Dec. 31, 2024 $ 671,639         $ 61,188 $ 127,697 $ 810     1,477,811     (10) (995,857)
Beginning balance (in shares) at Dec. 31, 2024 80,994,046             80,994,046              
Stockholders’ deficit                              
Issuance of common stock, net of issuance costs (in shares)                   245,388          
Issuance of common stock, net of issuance costs     $ 4,795             $ 3     $ 4,792    
Issuance of common stock upon exercises of warrants (in shares)               115,146              
Issuance of common stock upon exercises of warrants $ 1,618             $ 1     1,617        
Issuance of common stock for exercises of stock options (in shares)               185,426              
Issuance of common stock for exercises of stock options 2,297             $ 2     2,295        
Issuance of common stock for cash under employee stock purchase plan (in shares)               41,106              
Issuance of common stock for cash under employee stock purchase plan 561                   561        
Vesting of restricted stock units (in shares)               8,315              
Share-based compensation expense 10,220                   10,220        
Change in unrealized gain (loss) on investments 255                         255  
Net loss (86,912)                           (86,912)
Ending balance (in shares) at Mar. 31, 2025           134,864 145,160                
Ending balance at Mar. 31, 2025 604,473         $ 61,188 $ 127,697 $ 816     1,497,296     245 (1,082,769)
Ending balance (in shares) at Mar. 31, 2025               81,589,427              
Beginning balance (in shares) at Dec. 31, 2024       134,864 145,160 134,864 145,160                
Beginning balance at Dec. 31, 2024 $ 671,639         $ 61,188 $ 127,697 $ 810     1,477,811     (10) (995,857)
Beginning balance (in shares) at Dec. 31, 2024 80,994,046             80,994,046              
Stockholders’ deficit                              
Change in unrealized gain (loss) on investments $ 79                            
Net loss (187,647)                            
Ending balance (in shares) at Jun. 30, 2025       134,864 145,160 134,864 145,160                
Ending balance at Jun. 30, 2025 $ 515,169         $ 61,188 $ 127,697 $ 817     1,508,902     69 (1,183,504)
Ending balance (in shares) at Jun. 30, 2025 81,651,186             81,651,186              
Beginning balance (in shares) at Mar. 31, 2025           134,864 145,160                
Beginning balance at Mar. 31, 2025 $ 604,473         $ 61,188 $ 127,697 $ 816     1,497,296     245 (1,082,769)
Beginning balance (in shares) at Mar. 31, 2025               81,589,427              
Stockholders’ deficit                              
Issuance of common stock for exercises of stock options (in shares)               61,527              
Issuance of common stock for exercises of stock options 763             $ 1     762        
Vesting of restricted stock units (in shares)               232              
Share-based compensation expense 10,844                   10,844        
Change in unrealized gain (loss) on investments (176)                         (176)  
Net loss (100,735)                           (100,735)
Ending balance (in shares) at Jun. 30, 2025       134,864 145,160 134,864 145,160                
Ending balance at Jun. 30, 2025 $ 515,169         $ 61,188 $ 127,697 $ 817     $ 1,508,902     $ 69 $ (1,183,504)
Ending balance (in shares) at Jun. 30, 2025 81,651,186             81,651,186