v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 25,306 $ 41,722
Available-for-sale marketable securities 114,856 119,077
Accounts receivable 0 305
Prepaid expenses and other current assets 4,396 4,434
Total current assets 144,558 165,538
Property and equipment, net 11,160 12,288
Long-term investments 2,154 2,154
Operating lease right-of-use assets 33,761 35,094
Other assets 927 836
Restricted cash 4,393 5,193
Total assets 196,953 221,103
Current liabilities:    
Accounts payable 2,398 1,489
Accrued expenses and other current liabilities 4,690 6,719
Current portion of operating lease liabilities 6,105 6,025
Deferred revenue 9,306 8,700
Total current liabilities 22,499 22,933
Non-current portion of operating lease liabilities 33,081 34,632
Deferred revenue, non-current 1,635 2,989
Other non-current liabilities 1,953 1,953
Total liabilities 59,168 62,507
Commitments and contingencies (Note 8)
Stockholders' equity (deficit):    
Preferred stock: $0.0001 par value; 10,000,000 shares authorized and zero shares issued and outstanding 0 0
Common stock: $0.0001 par value; 500,000,000 shares authorized; 37,647,057 and 37,620,668 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 4 4
Additional paid-in-capital 471,754 469,202
Accumulated other comprehensive income (44) 260
Accumulated deficit (333,929) (310,870)
Total stockholders' equity 137,785 158,596
Total liabilities and stockholders' equity $ 196,953 $ 221,103