v3.25.2
Condensed 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 $ (54,502) $ (40,043)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 577 619
Accretion income on marketable securities (785) (2,821)
Stock-based compensation expense 7,347 6,035
Other non-cash items 27 (5)
Non-cash lease expense 757 713
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 2,882 (2,555)
Other long-term assets 333 65
Accounts payable (1,018) (517)
Accrued expenses and other liabilities 910 (1,548)
Operating lease liabilities (657) (523)
Net cash used in operating activities (44,129) (40,580)
Cash flows from investing activities:    
Purchases of property and equipment (226) (613)
Purchases of marketable securities (9,984) (39,105)
Maturities of marketable securities 60,000 0
Proceeds from sale of marketable securities 0 68,955
Net cash provided by investing activities 49,790 29,237
Cash flows from financing activities:    
Proceeds from exercise of stock options 2 241
Proceeds from issuance of common stock from follow-on offering, net of issuance costs 46,517 0
Proceeds from issuance of pre-funded warrants from follow-on offering, net of issuance costs 14,156 0
Proceeds from issuance of common stock warrants from follow-on offering, net of issuance costs 9,254 0
Proceeds from ESPP purchases 96 95
Net cash provided by financing activities 70,025 336
Net increase (decrease) in cash, cash equivalents and restricted cash 75,686 (11,007)
Effect of exchange rate changes on cash and cash equivalents (12) 0
Cash, cash equivalents and restricted cash at beginning of period 32,461 41,850
Cash, cash equivalents and restricted cash at end of period 108,135 30,843
Supplemental disclosure of cash flow information:    
Purchases of property and equipment in accounts payable and accrued expenses and other liabilities $ 0 $ 190