v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 49,520 $ 46,935
Marketable securities, current 339,309 290,109
Prepaid expenses and other current assets 6,420 6,813
Total current assets 395,249 343,857
Marketable securities, long-term 107,123 142,539
Property and equipment, net 318 288
Operating lease right-of-use assets 1,687 1,830
Other non-current assets 103 103
Total assets 504,480 488,617
Current liabilities:    
Accounts payable 3,662 4,155
Accrued expenses and other current liabilities 9,287 10,591
Operating lease liability, current 680 619
Total current liabilities 16,633 15,374
Operating lease liability, non-current 1,127 1,313
Total liabilities 17,760 16,687
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Common stock, $0.001 par value; 545,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 50,167,623 and 48,722,309 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 50 49
Additional paid-in capital 705,196 657,561
Accumulated other comprehensive income (loss) (480) 546
Accumulated deficit (220,977) (189,157)
Total stockholders’ equity 486,720 471,930
Total liabilities and stockholders’ equity 504,480 488,617
Related Party    
Current liabilities:    
Related party accounts payable and other current liabilities 3,004 9
Series B Non-Voting Convertible Preferred Stock    
Stockholders’ equity:    
Series B non-voting convertible preferred stock, $0.001 par value; 251,504 shares authorized as of March 31, 2026 and December 31, 2025; 137,138 shares issued and outstanding as of March 31, 2026 and December 31, 2025 $ 2,931 $ 2,931