v3.26.1
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (161,307) $ (127,477)
Adjustments to reconcile net loss to net cash used in operations:    
Stock-based compensation 10,080 8,357
Accretion of discounts on available-for-sale marketable securities (6,888) (7,664)
Non-cash lease expense 2,900 2,544
Depreciation and amortization expense 1,799 2,133
Impairment of capitalized software 648 0
Non-cash interest expense 72 0
Loss on disposal of property and equipment 60 0
Changes in assets and liabilities:    
Prepaid expense and other current assets 893 (1,501)
Other non-current assets (980) (1,955)
Accounts payable 543 736
Accrued compensation 5,107 2,071
Other accrued expenses and current liabilities (800) 10,905
Accrued license expense - related party (2,500) 0
Operating lease liability (3,339) (2,399)
Net cash used in operating activities (153,712) (114,250)
Cash flows from investing activities    
Purchases of available-for-sale marketable securities (364,623) (489,997)
Proceeds from maturities of available-for-sale marketable securities 405,701 331,300
Internal-use software development costs (1,128) 0
Proceeds from sale of property and equipment 70 0
Purchases of property and equipment (5) (2,205)
Net cash provided by (used in) investing activities 40,015 (160,902)
Cash flows from financing activities    
Proceeds from issuance of common stock upon initial public offering and underwritten public offering, net of underwriting commissions 98,968 341,171
Proceeds from issuance of common stock under the ATM Facility, net of agent's fees 16,940 0
Proceeds from borrowing of the term loan, net of issuance costs 24,700 0
Proceeds from exercise of common stock options 1,987 259
Principal paid on finance lease liabilities (808) (956)
Payments for common stock issuance offering costs (475) (3,361)
Taxes paid related to net share settlement upon vesting of restricted stock units (144) 0
Net cash provided by financing activities 141,168 337,113
Net increase in cash and cash equivalents and restricted cash 27,471 61,961
Cash, cash equivalents and restricted cash, at beginning of period 97,173 35,212
Cash, cash equivalents and restricted cash, at end of period 124,644 97,173
Reconciliation of cash, cash equivalents and restricted cash to statement of financial position    
Cash and cash equivalents 124,093 96,621
Restricted cash 551 552
Cash, cash equivalents and restricted cash at end of period 124,644 97,173
Supplemental disclosure for non-cash investing and financing activities    
Conversion of 114,556,997 shares of redeemable convertible preferred stock to common stock shares upon the closing of initial public offering 0 180,574
Unpaid offering costs included in accounts payable and other current liabilities 352  
Vesting of restricted stock 0 6
Right-of-use asset obtained in exchange for operating and finance lease liability 194 2,518
Supplemental disclosure of cash flow information    
Cash paid for interest $ 415 $ 142