v3.25.2
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 39,781 $ 49,351
Marketable securities 185,125 212,798
Prepaid expenses and other current assets 4,284 5,137
Total current assets 229,190 267,286
Property and equipment, net 1,730 1,080
Right-of-use assets 551 119
Other assets 50 50
Total assets 231,522 268,535
Current liabilities:    
Accounts payable 5,764 5,335
Accrued expenses 5,854 5,545
Operating lease liability, current 138 171
Total current liabilities 11,756 11,051
Share repurchase liability 15 42
Operating lease liability, net of current 512 0
Total liabilities 12,283 11,093
Commitments and contingencies (Note 9)
Stockholders' equity (deficit)    
Undesignated preferred stock, $0.0001 par value, 10,000,000 shares authorized and zero issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized and 33,592,226 issued and outstanding as of June 30, 2025 and 500,000,000 shares authorized and 33,421,525 issued and outstanding as of December 31, 2024 5 5
Additional paid-in-capital 400,019 394,887
Accumulated deficit (180,796) (137,505)
Accumulated other comprehensive income 11 55
Total stockholders' equity 219,239 257,442
Total liabilities and stockholders' equity $ 231,522 $ 268,535