v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (18,317) $ (16,633)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 15 140
Share-based compensation 5,073 2,514
Amortization of premium and discount on marketable securities (206) 26
ROU asset amortization 353 224
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (87) (5,481)
Accounts payable (679) (672)
Accrued expenses (3,383) 6,927
Operating lease liability (38) (253)
Net cash used in operating activities (17,269) (13,208)
Cash flows from investing activities:    
Purchase of property and equipment (82) (18)
Purchases of marketable securities (44,815) (24,832)
Proceeds from sale or maturities of marketable securities 83,326 36,438
Net cash provided by investing activities 38,429 11,588
Cash flows from financing activities:    
Proceeds from exercise of common stock 3,854 0
Taxes paid related to net shares settlement of RSUs (489) (815)
Net cash provided by (used in) financing activities 3,365 (815)
Net change in cash, cash equivalents and restricted cash 24,525 (2,435)
Cash, cash equivalents and restricted cash at beginning of period 31,211 44,051
Cash, cash equivalents and restricted cash at end of period 55,736 41,616
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents 55,168 41,048
Restricted cash 568 568
Total cash, cash equivalents and restricted cash 55,736 41,616
Supplemental disclosure of cash flow information    
Unrealized loss on marketable securities $ 439 $ 20