Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 34,790	$ 37,568
Short-term investments	88,253	108,129
Prepaid expenses and other current assets	2,505	3,316
Total current assets	125,548	149,013
Property and equipment, net	2	3
Other assets	1,681	1,814
Total assets	127,231	150,830
Current liabilities:
Accounts payable	1,745	917
Accrued liabilities	9,311	13,602
Total current liabilities	11,056	14,519
Total liabilities	11,056	14,519
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value; 300,000,000 shares authorized; 47,196,564 and 47,145,719 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively.	4	4
Additional paid-in capital	491,630	489,437
Accumulated other comprehensive (loss) income	(15)	120
Accumulated deficit	(375,444)	(353,250)
Total stockholders’ equity	116,175	136,311
Total liabilities and stockholders’ equity	$ 127,231	$ 150,830

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).