v3.26.1
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 $ (41,602) $ (59,431)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 2,541 3,335
Noncash lease expense 1,498 1,673
Stock-based compensation expense 2,744 6,088
Loss on disposal of property and equipment 0 103
Net amortization of premiums and accretion discounts on investments (1,423) (2,176)
Amortization of deferred transaction costs 0 15
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (178) 1,109
Other non-current assets (2) 188
Accounts payable (1,136) (491)
Operating lease liability (1,860) (1,875)
Accrued and other current and non-current liabilities (1,895) (568)
Net cash used in operating activities (41,313) (52,030)
Cash flows from investing activities    
Purchases of short-term treasury securities (44,231) (34,369)
Maturities of short term treasury securities 80,000 66,000
Purchases of property and equipment (239) (1,539)
Net cash provided by investing activities 35,530 30,092
Cash flows from financing activities    
Proceeds from exercise of stock options 1 0
Proceeds from Employee Stock Purchase Plan 82 267
Pre-funded warrant issuance costs (22) 0
Taxes withheld and paid related to net share settlement of equity awards (68) (104)
Net cash used in financing activities (7) 163
Net change in cash, cash equivalents and restricted cash (5,790) (21,775)
Cash, cash equivalents and restricted cash at the beginning of period 41,790 59,398
Cash, cash equivalents and restricted cash at the end of period 36,000 37,623
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets:    
Cash and cash equivalents 33,131 34,720
Restricted cash 2,869 2,903
Cash, cash equivalents and restricted cash in consolidated balance sheets 36,000 37,623
Supplemental disclosures of noncash investing and financing activities    
Purchases of property and equipment included in accounts payable and accrued expenses 7 379
Remeasurement of finance lease resulting in a reduction of ROU asset $ 25 $ 0