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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows used in operating activities    
Net loss $ (18,325) $ (14,985)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 652 484
Stock-based compensation 3,022 1,235
Net amortization of premiums and accretion of discounts on investments in marketable securities (529) (1,854)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (828) 701
Interest receivable (1,105) 195
Operating lease right-of-use assets 191 222
Other assets (1,877) 515
Accounts payable (65) 90
Accrued expenses and other current liabilities (1,824) (2,219)
Operating lease liabilities (327) (418)
Deferred revenue (3,227) (1,448)
Net cash used in operating activities (24,242) (17,482)
Cash flows provided by investing activities    
Purchases of marketable securities 0 (10,816)
Proceeds from maturities of marketable securities 22,395 51,750
Purchases of property and equipment (1,854) (1,893)
Net cash provided by investing activities 20,541 39,041
Cash flows (used in) provided by financing activities    
Proceeds from initial public offering, net of underwriter discounts and commissions paid during the period 339,780 0
Payment of offering costs (2,263) (518)
Proceeds from exercise of common stock options 30 50
Net cash provided by (used in) financing activities 337,547 (468)
Net increase in cash, cash equivalents and restricted cash equivalents 333,846 21,091
Cash, cash equivalents and restricted cash equivalents at beginning of period 38,933 38,308
Cash, cash equivalents and restricted cash equivalents at end of period 372,779 59,399
Reconciliation of cash, cash equivalents and restricted cash equivalents    
Cash and cash equivalents 371,630 58,250
Long-term restricted cash equivalents 1,149 1,149
Total cash, cash equivalents and restricted cash equivalents 372,779 59,399
Supplemental disclosure of non-cash investing and financing activities:    
Remeasurement of right-of-use asset and lease liability due to lease modification 0 370
Conversion of redeemable convertible preferred stock into common stock upon closing of initial public offering 333,409 0
Deferred offering costs transferred to additional paid in capital 4,456 0
Purchases of property and equipment included in accounts payable 32 0
Purchases of property and equipment included in accrued expenses 152 1,196
Net unrealized loss on marketable securities (283) (58)
Deferred Offering Costs Included In Accrued Expenses $ 0 $ 332