CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 99,280	$ 90,394
Marketable securities	123,725	205,304
Restricted cash, current portion	0	658
Collaboration receivable	816	1,177
Prepaid expenses and other current assets	8,883	8,719
Total current assets	232,704	306,252
Property and equipment, net	5,722	7,313
Restricted cash	3,292	3,292
Right-of-use assets, operating leases	57,041	60,451
Other non-current assets	118	70
Total assets	298,877	377,378
Current liabilities:
Accounts payable	3,746	2,289
Accrued expenses and other current liabilities	13,003	17,682
Operating lease obligations, current portion	4,449	4,138
Deferred revenue	173	342
Total current liabilities	21,371	24,451
Operating lease obligations, net of current portion	44,095	46,794
Total liabilities	65,466	71,245
Commitments and contingencies (Note 11)
Stockholders' equity:
Common stock, par value $0.0001; 150,000,000 shares authorized; 38,936,669 shares issued and outstanding as of June 30, 2026; and 38,284,221 shares issued and outstanding as of December 31, 2025	4	4
Additional paid‑in capital	588,915	578,571
Accumulated other comprehensive income	66	652
Accumulated deficit	(355,574)	(273,094)
Total stockholders' equity	233,411	306,133
Total liabilities and stockholders' equity	$ 298,877	$ 377,378

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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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).