v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net (loss) income $ (19,913) $ 32,682
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Stock-based compensation expense 1,766 2,819
Depreciation and amortization expense 781 1,076
Non-cash operating lease cost 2,255 2,045
Changes in operating assets and liabilities:    
Accounts receivable due from SPN - related party 360 (693)
Accounts receivable (76) 0
Prepaid expenses and other current and other non-current assets 1,323 1,345
Accounts payable 656 (1,966)
Accrued liabilities due to SPN - related party 0 (3,864)
Operating lease liabilities (2,467) (2,092)
Accrued expenses and other current and long-term liabilities (1,045) (4,442)
Net cash (used in) provided by operating activities (16,360) 26,910
Cash flows from investing activities:    
Purchases of property and equipment 0 (34)
Net cash (used in) investing activities 0 (34)
Cash flows from financing activities:    
Proceeds from at the market equity offering, net of issuance costs 400 996
Issuance of common stock under ESPP 28 184
Net cash provided by financing activities 428 1,180
Net (decrease) increase in cash, cash equivalents, and restricted cash (15,932) 28,056
Cash, cash equivalents and restricted cash at beginning of period 54,434 39,461
Cash, cash equivalents and restricted cash at end of period 38,502 67,517
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable and accrued expenses $ 0 $ 55