v3.25.4
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows used in operating activities:    
Net loss $ (45,522) $ (64,767)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 728 3,081
Sharebased compensation 3,001 5,820
Amortization of premium and discount on marketable securities, net 129 (1,527)
Impairment of long-lived assets 6,145 5,233
Other non-cash items 14  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets, and other assets 228 255
Prepaid research and development 391 1,521
Non-refundable sublicense and transition services payments received 4,015 8,226
Right of use assets and operating lease liabilities (464) (279)
Accounts payable 1,880 (556)
Accrued expenses and other current liabilities (2,054) (4,963)
Net cash provided by (used in) operating activities (31,509) (47,956)
Cash flows provided by (used in) investing activities:    
Purchases of marketable securities   (88,170)
Sales or maturities of marketable securities 39,046 143,150
Purchases of property and equipment and other assets   (34)
Sales of property and equipment and other assets 1,170  
Net cash provided by (used in) investing activities 40,216 54,946
Cash flows provided by (used in) financing activities:    
Proceeds from issuance of common stock under the ATM Facility, net of offering costs   8,742
Proceeds from the exercise of stock options   35
Proceeds from the issuance of common stock under employee stock purchase plan 23 97
Net cash provided by (used in) financing activities 23 8,874
Net increase (decrease) in cash and cash equivalents 8,730 15,864
Cash and cash equivalents at beginning of year 37,573 21,709
Cash and cash equivalents at end of year 46,303 37,573
Supplemental disclosure of noncash activities:    
Unrealized gain (loss) on marketable securities $ (8) 51
Right of use assets recognized upon the commencement of sublease   (422)
Operating lease liabilities recognized upon the commencement of sublease   $ 422