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 $ (8,637) $ (21,476)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 421 397
Non-cash operating lease expense 566 516
Stock-based compensation 6,015 1,482
Accretion of discounts, net (755) (965)
Other 3 (11)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (294) (488)
Accounts receivable (486) (79)
Other non-current assets 43 (9)
Accounts payable (2,302) 1,186
Accrued expenses and other current liabilities (3,533) (3,446)
Deferred revenue (16,239)  
Operating lease, net (535) (450)
Other non-current liabilities 100  
Net cash used in operating activities (25,633) (23,343)
Cash flows from investing activities:    
Purchases of property and equipment (832) (382)
Purchases of marketable securities (105,230) (49,715)
Maturities of marketable securities 82,245 45,223
Net cash used in investing activities (23,817) (4,874)
Cash flows from financing activities:    
Proceeds from exercise of stock options 333 66
Net cash provided by financing activities 333 66
Net decrease in cash, cash equivalents and restricted cash (49,117) (28,151)
Cash, cash equivalents and restricted cash, beginning of period 121,627 239,101
Cash, cash equivalents and restricted cash, end of period 72,510 210,950
Cash, Cash Equivalents and Restricted Cash:    
Cash and cash equivalents 71,605 210,045
Restricted Cash 905 905
Total cash, cash equivalents and restricted cash at end of period $ 72,510 $ 210,950