v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (28,609) $ (32,206)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 782 1,058
Loss on disposal of property and equipment 0 35
Stock-based compensation 4,983 6,157
Non-cash lease expense 485 438
Change in fair value of warrant liabilities 53 277
Change in accrued interest and net accretion of discounts on short-term investments (180) (607)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 497 73
Accounts payable (537) 97
Accrued expenses (2,215) (280)
Lease liabilities (587) (503)
Other noncurrent assets 28 (18)
Net cash used in operating activities (25,300) (25,479)
Cash flows from investing activities:    
Purchases of property and equipment (5) (16)
Purchases of available-for-sale investments (11,014) (38,892)
Proceeds from sales and maturities of available-for-sale investments 30,451 31,813
Net cash provided by (used in) investing activities 19,432 (7,095)
Cash flows from financing activities:    
Proceeds from exercise of stock options 41 2
Net cash provided by financing activities 41 2
Change in cash, cash equivalents and restricted cash (5,827) (32,572)
Cash, cash equivalents and restricted cash, beginning of period 10,673 53,758
Cash, cash equivalents and restricted cash, end of period 4,846 21,186
Reconciliation of restricted cash:    
Cash and cash equivalents 3,910 20,250
Restricted cash 936 936
Reconciliation of restricted cash total $ 4,846 $ 21,186