Three Months Ended
March 31,

2026

2025

Collaboration revenue:

Ionis

$

1,248

$

3,974

Affini-T

—

153

Total collaboration revenue

1,248

4,127

Operating expenses:

Employee-related expenses

7,875

11,664

Facilities and overhead costs

6,391

7,369

Professional services and consulting

2,672

2,545

Research and development supplies and services

6,345

7,441

Stock-based compensation expense

2,552

2,928

Total operating expenses

25,835

31,947

Operating loss

(24,587

)

(27,820

)

Other income (expense):

Interest and other

1,538

2,879

Provision for income taxes

(10

)

(98

)

Net loss

$

(23,059

)

$

(25,039

)