CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 112,765	$ 74,293
Short-term investments	122,922	144,570
Prepaid expenses and other current assets	14,462	8,116
Total current assets	250,149	226,979
Long-term investments	18,793	47,683
Right of use assets - operating leases	85	154
Other assets	479	126
Total assets	269,506	274,942
Commitments and contingencies (Note 7)
Current liabilities:
Accounts payable	4,060	3,782
Accrued expenses	15,478	13,330
Operating lease liabilities	98	162
Total current liabilities	19,636	17,274
Operating lease liabilities, net of current amount		14
Total liabilities	19,636	17,288
Stockholders' equity:
Preferred stock $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding
Common stock $0.0001 par value, 200,000,000 shares authorized; 37,490,439 and 33,706,765 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	4	3
Additional paid-in capital	584,003	496,195
Accumulated deficit	(334,119)	(238,333)
Accumulated other comprehensive loss	(18)	(211)
Total stockholders' equity	249,870	257,654
Total liabilities and stockholders' equity	$ 269,506	$ 274,942

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).