v3.26.1
Condensed Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 73,835 $ 77,387
Marketable securities 280,109 178,616
Prepaid expenses and other current assets 13,022 9,447
Total current assets 366,966 265,450
Restricted cash 884 1,000
Property and equipment, net 1,173 1,314
Right-of-use asset 5,311 5,573
Other long-term assets 9,028 9,272
Total assets 383,362 282,609
Current liabilities:    
Accounts payable 2,334 1,178
Lease liabilities, current 504 472
Accrued expenses and other current liabilities 21,782 16,444
Total current liabilities 24,620 18,094
Lease liabilities, noncurrent 5,078 5,338
Total liabilities 29,698 23,432
Commitments and contingencies (Note 9)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 500,000,000 shares authorized at June 30, 2026 and December 31, 2025; 59,662,877 and 53,706,357 shares issued and outstanding June 30, 2026 and December 31, 2025, respectively 6 5
Additional paid-in capital 810,359 630,037
Accumulated other comprehensive income (loss) (580) 393
Accumulated deficit (456,121) (371,258)
Total stockholders' equity 353,664 259,177
Total liabilities and stockholders' equity $ 383,362 $ 282,609