v3.25.2
Condensed consolidated balance sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 45,458 $ 325,892
Short-term investments 348,123 144,559
Accounts receivable 937 613
Prepaid expenses and other current assets 23,754 8,096
Total current assets 418,272 479,160
Property and equipment, net 544 582
Operating lease right-of-use assets 1,511 1,783
Restricted cash 194 194
Total assets 420,521 481,719
Current liabilities:    
Accounts payable 2,551 4,041
Accrued expenses and other current liabilities 7,666 5,992
Operating lease liabilities, current portion 712 704
Total current liabilities 10,929 10,737
Operating lease liabilities, net of current portion 849 1,130
Total liabilities 11,778 11,867
Commitments and contingencies (Note 13)
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024
Common stock, $0.001 par value; 500,000,000 shares authorized at June 30, 2025 and December 31, 2024; 53,798,151 and 53,603,398 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 54 53
Additional paid-in capital 666,447 660,604
Accumulated other comprehensive income 258 (25)
Accumulated deficit (258,016) (190,780)
Total stockholders' deficit 408,743 469,852
Total liabilities, redeemable convertible preferred stock and stockholders' deficit $ 420,521 $ 481,719