v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (18,934) $ (67,627)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 8,140 9,806
Depreciation and amortization 487 438
Changes in operating assets and liabilities:    
Prepaid and other current assets 1,232 5,518
Accounts payable and accrued expenses (2,356) 35,168
Accrued development expense (3) 1,348
Accrued compensation and benefits (1,240) (794)
Other liabilities (59) (140)
Net cash used in operating activities (12,733) (16,283)
Cash flows from investing activities:    
Purchases of property and equipment (21) 0
Net cash used in investing activities (21) 0
Cash flows from financing activities:    
2025 ATM program offering costs (67) 0
Proceeds from issuance of common stock upon exercise of stock options 0 90
Net cash (used in) provided by financing activities (67) 90
Net decrease in cash and cash equivalents (12,821) (16,193)
Cash and cash equivalents at beginning of period 95,502 128,574
Cash and cash equivalents at end of period $ 82,681 $ 112,381