v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 106,270 $ 48,297
Prepaid expenses and other current assets 3,376 6,753
Total current assets 109,646 55,050
Property and equipment, net 804 979
Right-of-use asset, operating leases 4,770 5,100
Restricted cash and restricted cash equivalents 647 647
Total assets 115,867 61,776
Current liabilities:    
Accounts payable 1,565 879
Accrued expenses and other current liabilities 3,836 4,232
Venture debt, current portion 0 6,235
Total current liabilities 5,401 11,346
Lease liability, net of current portion 4,561 4,943
Venture debt, net of current portion 0 3,473
Total liabilities 9,962 19,762
Commitments and contingencies (Note 10)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 400,000,000 shares authorized,23,736,600 and 12,858,047 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 3 2
Additional paid-in capital 327,450 247,005
Accumulated deficit (221,548) (204,993)
Total stockholders' equity 105,905 42,014
Total liabilities and stockholders' equity $ 115,867 $ 61,776