BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 37,483	$ 45,669
Short-term investments	227,278	235,819
Prepaid expenses and other current assets	8,934	6,978
Total current assets	273,695	288,466
Long-term investments	122,799	110,762
Property and equipment, net	2,242	2,415
Other assets	5,949	7,247
Total assets	404,685	408,890
Current liabilities:
Accounts payable	3,873	3,824
Accrued liabilities	16,883	16,593
Total current liabilities	20,756	20,417
Other long-term liabilities	2,673	4,111
Total liabilities	23,429	24,528
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding at March 31, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value; 1,000,000,000 shares authorized; 103,486,412 and 98,528,949 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	11	11
Additional paid-in capital	1,151,764	1,075,807
Accumulated deficit	(769,501)	(692,242)
Accumulated other comprehensive (loss) income	(1,018)	786
Total stockholders' equity	381,256	384,362
Total liabilities and stockholders' equity	$ 404,685	$ 408,890

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).