v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 127,337 $ 192,434
Marketable securities 522,636 297,447
Prepaid expenses and other current assets 11,619 3,734
Total current assets 661,592 493,615
Property and equipment, net 1,289 751
Right-of-use assets, operating leases 1,340 1,569
Other assets 840 838
Total assets 665,061 496,773
Current liabilities:    
Accounts payable 6,350 7,948
Accrued external research and development expenses 7,463 7,141
Other accrued expenses 6,161 8,097
Operating lease liabilities, current 632 130
Total current liabilities 20,606 23,316
Long-term debt, net 28,737 28,322
Operating lease liabilities, non-current 1,553 1,548
Total liabilities 50,896 53,186
Commitments and contingencies (Note 14)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued or outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 34,694,882 and 29,865,030 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 1,001,223 741,297
Accumulated other comprehensive income 273 289
Accumulated deficit (387,334) (298,002)
Total stockholders' equity 614,165 443,587
Total liabilities and stockholders' equity $ 665,061 $ 496,773