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 $ (23,059) $ (25,039)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 2,552 2,928
Depreciation 1,275 1,358
Non-cash lease expense 1,335 1,273
Accretion of discounts on available-for-sale marketable securities (360) (1,007)
Amortization of non-cash collaboration revenue 0 (77)
Changes in operating assets and liabilities:    
Accounts receivable 305 245
Prepaid expenses and other assets 230 2,237
Accounts payable 795 2,210
Deferred revenue (748) (3,049)
Accrued expenses and other current liabilities (2,029) (2,648)
Operating lease liabilities (1,471) (1,371)
Other non-current liabilities 0 98
Net cash used in operating activities (21,175) (22,842)
Cash flows from investing activities    
Purchases of property and equipment (25) (288)
Purchases of available-for-sale marketable securities (36,748) (22,287)
Maturities of available-for-sale marketable securities 40,759 47,303
Net cash provided by investing activities 3,986 24,728
Cash flows from financing activities    
Payment of deferred financing costs (27) (77)
Net cash used in financing activities (27) (77)
Net increase (decrease) in cash, cash equivalents and restricted cash (17,216) 1,809
Cash, cash equivalents and restricted cash at beginning of period 46,915 32,634
Cash, cash equivalents and restricted cash at end of period 29,699 34,443
Supplemental disclosure of non-cash information    
Purchases of property and equipment included in accounts payable, accrued expenses and other current liabilities 124 23
Deferred finance issuance costs included in accounts payable, accrued expenses and other current liabilities 2 422
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 25,306 29,195
Restricted cash 4,393 5,248
Cash, cash equivalents and restricted cash at end of period $ 29,699 $ 34,443