v3.25.2
Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
[1]
Current assets    
Cash and cash equivalents $ 86,820 $ 71,188
Short-term investments 176,053 284,536
Prepaid expenses and other current assets (Note 5) 4,571 6,540
Total current assets 267,444 362,264
Property and equipment, net (Note 4) 4,892 5,525
Operating lease right-of-use assets (Note 15) 25,615 27,243
Restricted cash 1,482 1,482
Other non-current assets 391 435
Total assets 299,824 396,949
Current liabilities    
Accounts payable 1,384 5,960
Accrued research and development 10,790 14,363
Accrued liabilities (Note 6) 7,192 12,353
Operating lease liabilities, current (Note 15) 1,225 542
Total current liabilities 20,591 33,218
Operating lease liabilities, non-current (Note 15) 28,791 29,439
Long-term debt (Note 7) 30,360 30,211
Total liabilities 79,742 92,868
Commitments and Contingencies (Note 14)
Stockholders’ equity    
Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized at June 30, 2025 and December 31, 2024, 300,000 shares designated as Series A Junior Participating Preferred Stock at June 30, 2025 and none designated as Series A Junior Participating Preferred Stock at December 31, 2024; and none issued or outstanding at June 30, 2025 and December 31, 2024 (Note 8 and 10) 0 0
Common stock, $0.0001 par value per share; 300,000,000 shares authorized at June 30, 2025 and December 31, 2024; and 61,386,183 and 60,860,838 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively; (Note 9) 6 6
Additional paid-in capital 1,029,595 1,013,806
Accumulated deficit (809,518) (710,052)
Accumulated other comprehensive (loss) gain (1) 321
Total stockholders’ equity 220,082 304,081
Total liabilities and stockholders’ equity $ 299,824 $ 396,949
[1] The condensed balance sheet as of December 31, 2024 has been derived from the audited financial statements as of that date.