v3.25.2
Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (16,233) $ (16,400)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 453 421
Stock-based compensation 2,837 3,716
Non-cash lease expense 301 278
Non-cash investment income, net 39 (632)
Other (5) 16
Changes in operating assets and liabilities:    
Accounts receivable 17 59
Other receivables 19 11,310
Prepaid expenses and other assets 603 203
Accounts payable (967) (42)
Accrued and other current liabilities (87) 144
Deferred revenue (3) (7)
Net cash used in operating activities (13,026) (934)
Cash flows from investing activities    
Purchases of marketable securities (71,863) (26,556)
Proceeds from maturities and sales of marketable securities 32,586 26,735
Purchases of property and equipment (284) (22)
Purchase of intangible asset 0 (697)
Net cash used in investing activities (39,561) (540)
Cash flows from financing activities    
Proceeds from public offering of common stock, net of issuance costs 53,610 0
Proceeds from exercise of stock options 48 2,420
Proceeds from employee stock purchase plan 75 55
Finance lease principal payments (173) (217)
Net cash provided by financing activities 53,560 2,258
Net increase in cash and cash equivalents 973 784
Cash and cash equivalents at beginning of period 4,043 3,880
Cash and cash equivalents at end of period 5,016 4,664
Supplemental disclosure of cash flow information    
Cash paid for interest 6 17
Supplemental disclosure of non-cash investing and financing information    
Purchases of property and equipment in accounts payable and accrued and other current liabilities $ 76 $ 8