v3.26.1
Condensed Statements of Cash Flows (Unaudited)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:    
Net loss $ (62,665) $ (50,147)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,461 4,745
Amortization (accretion) of premium (discount) on marketable securities 0 300
Stock-based compensation 3,897 7,367
Non-cash operating lease expense 1,324 1,208
Impairment loss 21,821 0
Other 1,148 230
Changes in operating assets and liabilities:    
Accounts receivable (371) 0
Prepaid expenses and other current assets 1,490 1,488
Other noncurrent assets 424 508
Accounts payable (472) (1,514)
Accrued and other current liabilities (1,053) (1,512)
Contract liabilities 9,663 0
Operating lease liabilities (1,453) (1,398)
Net cash used in operating activities (22,786) (38,725)
Cash flows from investing activities:    
Purchases of property and equipment (170) (525)
Proceeds from sales of marketable securities 0 10,958
Proceeds from maturities of marketable securities 0 36,857
Net cash (used) provided by investing activities (170) 47,290
Cash flows from financing activities:    
Proceeds from exercise of stock options and employee stock purchase plan 43 70
Proceeds from exercise of warrants 866 0
Payment of accrued offering costs (415) 0
Net cash provided by financing activities 494 49,783
Net change in cash, cash equivalents and restricted cash (22,462) 58,348
Cash and cash equivalents and restricted cash at beginning of period 100,966 4,742
Cash and cash equivalents and restricted cash at end of period 78,504 63,090
Components of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 78,085 62,671
Restricted cash included in other noncurrent assets 419 419
Cash, cash equivalents and restricted cash 78,504 63,090
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued and other current liabilities 0 7
Warrant exercise proceeds received by the Company's warrant agent but not yet remitted to the Company 4,003 0
Follow On Offering    
Cash flows from financing activities:    
Proceeds from issuance of equity, net of issuance costs 0 48,801
At The Market Sales    
Cash flows from financing activities:    
Proceeds from issuance of equity, net of issuance costs $ 0 $ 912