v3.26.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (20,040) $ (56,166)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 264 448
Stock-based compensation expense 4,254 8,913
Gain on sale of property plant and equipment (94) 0
Non-cash operating lease expense 835 813
Net amortization (accretion) on short-term investments 417 1,362
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,724 995
Other non-current assets 323 8
Accounts payable (118) (338)
Accrued liabilities (6,474) (4,808)
Operating lease liabilities (320) (91)
Net cash used in operating activities (19,229) (48,864)
Cash flows from investing activities    
Purchase of short-term investments (64,900) (14,149)
Maturity of short-term investments 60,698 83,525
Purchase of property and equipment 0 (262)
Proceeds from sale of property, plant and equipment 102 0
Net cash (used in) provided by investing activities (4,100) 69,114
Cash flows from financing activities    
Proceeds from issuances of common stock under benefit plans 74 498
Net cash provided by financing activities 74 498
Net (decrease) increase in cash and cash equivalents (23,255) 20,748
Cash and cash equivalents and restricted cash at beginning of period 46,927 72,670
Cash, cash equivalents and restricted cash at end of period 23,672 93,418
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 723
Reconciliation of cash, cash equivalents, and restricted cash reported in the balance sheets    
Cash and cash equivalents 22,190 91,936
Restricted cash 1,482 1,482
Total cash, cash equivalents, and restricted cash 23,672 93,418
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment in accounts payable and accrued liabilities $ 0 $ 132