v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows used in operating activities    
Net Loss $ (10,028) $ (10,649)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,460 2,047
Net accretion of discount on investments (81) (443)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (267) 645
Accounts payable (405) (244)
Accrued compensation (1,805) (1,147)
Accrued liabilities (285) (411)
Other current liabilities (662) (422)
Net cash used in operating activities (12,073) (10,624)
Cash flows from investing activities    
Purchases of investments (2,703) (22,307)
Maturities of investments 10,993 31,500
Net cash provided by investing activities 8,290 9,193
Cash flows from financing activities    
Proceeds from issuance of common stock in the 2026 Private Placement, net of placement agent fees and other offering costs 21,894  
Proceeds from issuance of pre-funded warrants in the 2026 Private Placement, net of placement agent fees and other offering costs 15,372  
Proceeds from issuance of common stock under the ESPP 39 38
Proceeds from exercise of stock options 24 27
Net cash provided by financing activities 37,329 65
Net increase (decrease) in cash and cash equivalents 33,546 (1,366)
Cash and cash equivalents at the beginning of the period 19,941 21,351
Cash and cash equivalents at the end of the period 53,487 $ 19,985
Supplemental disclosure of noncash financing items    
2026 Private Placement Offering costs included in accounts payable and accrued liabilities $ 332