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 $ (10,331) $ (23,403)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 4,069 5,225
Depreciation and amortization 243 220
Changes in operating assets and liabilities:    
Prepaid and other current assets 867 5,135
Accounts payable and accrued expenses (2,458) 538
Accrued development expense 241 1,637
Accrued compensation and benefits (1,379) (502)
Other liabilities (130) (186)
Net cash used in operating activities (8,878) (11,336)
Cash flows from financing activities:    
2025 ATM program offering costs (51) 0
Proceeds from issuance of common stock upon exercise of stock options 0 90
Net cash (used in) provided by financing activities (51) 90
Net decrease in cash and cash equivalents (8,929) (11,246)
Cash and cash equivalents at beginning of period 95,502 128,574
Cash and cash equivalents at end of period $ 86,573 $ 117,328