v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 71,768 $ 63,000
Current portion of investments in U.S. Treasury securities 121,275 118,767
Prepaid expenses and other current assets 7,819 6,625
Total current assets 200,862 188,392
Non-current portion of investments in U.S. Treasury securities 34,510 64,801
Long-term investment 3,390 3,390
Restricted cash 3,248 3,248
Property and equipment, net 1,101 1,139
Lease right-of-use assets - finance 1,060 1,140
Lease right-of-use assets - operating 6,185 6,578
Total assets 250,356 268,688
Current liabilities:    
Accounts payable 3,335 4,856
Accrued expenses and other current liabilities 8,159 9,277
Current portion of lease liabilities - finance 528 518
Current portion of lease liabilities - operating 2,167 2,157
Total current liabilities 14,189 16,808
Non-current liabilities    
Non-current portion of lease liabilities - finance 198 327
Non-current portion of lease liabilities - operating 4,472 4,884
Total liabilities 18,859 22,019
Commitments and contingencies (Note 11)
Stockholders' equity:    
Common stock, $0.0001 par value, 500,000,000 shares authorized as of March 31, 2026; 74,087,063 shares issued and 74,086,737 shares outstanding as of March 31, 2026; 500,000,000 shares authorized as of December 31, 2025; 73,001,766 shares issued and 73,001,350 shares outstanding as of December 31, 2025 7 7
Treasury stock, at cost, 3,827 common shares as of March 31, 2026 and as of December 31, 2025 (17) (17)
Additional paid-in capital 631,979 626,625
Accumulated other comprehensive gain (loss) (142) 188
Accumulated deficit (400,330) (380,134)
Total stockholders' equity 231,497 246,669
Total liabilities and stockholders' equity $ 250,356 $ 268,688