v3.25.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 220,330,000 $ 354,349,000
Marketable securities, current 76,965,000 0
Accounts receivable 603,000 0
Prepaid expenses and other current assets 3,799,000 2,754,000
Total current assets 301,697,000 357,103,000
Investments 100,000 100,000
Marketable securities 16,108,000 0
Property and equipment, net 974,000 591,000
Operating lease right-of-use assets, net 3,032,000 200,000
Other assets 237,000 240,000
Total assets 322,148,000 358,234,000
Current Liabilities:    
Accounts payable 1,329,000 1,996,000
Accrued expenses and other current liabilities 7,584,000 11,751,000
Term loan, current 5,596,000 6,000,000
Operating lease liabilities, current 630,000 202,000
Deferred revenue, current 7,698,000 7,826,000
Total current liabilities 22,837,000 27,775,000
Deferred revenue 1,902,000 4,674,000
Term loan 0 2,502,000
Warrant liability 108,000 156,000
Operating lease liabilities 2,520,000 0
Total liabilities 27,367,000 35,107,000
Commitments and Contingencies (Note 8)
Stockholders' Equity    
Preferred stock, $0.00001 par value; 10,000,000 shares authorized as of June 30, 2025 and December 31, 2024; no shares issued or outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.00001 par value; 500,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 35,850,037 shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Additional paid-in-capital 581,871,000 575,693,000
Accumulated other comprehensive income 212,000 245,000
Accumulated deficit (287,302,000) (252,811,000)
Total stockholders' equity 294,781,000 323,127,000
Total liabilities and stockholders' equity $ 322,148,000 $ 358,234,000