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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ (16,555) $ (20,520)
Adjustments to reconcile net income loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs, net of accrued interest (34) 97
Depreciation expense 175 210
Stock-based compensation expense 3,233 2,610
Non-cash lease expense 330 306
Loss on extinguishment of venture debt 147 0
Loss on impairment of equity investment 0 74
Change in fair value of CVR liability 0 (374)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 3,377 420
Other noncurrent assets 0 (454)
Accounts payable 686 (2,079)
Operating lease liability (340) (300)
Accrued expenses and other current liabilities (437) (3,123)
Net cash used in operating activities (9,418) (23,133)
Cash flows from investing activities:    
Net cash provided by investing activities 0 0
Cash flows from financing activities:    
Principal payments on venture debt (3,125) 0
Payoff of venture debt (6,696) 0
Proceeds from issuance of common stock and pre-funded warrants in Registered Direct Offering, net of issuance costs 10,360 0
Proceeds from issuance of common stock and pre-funded warrants in private placement, net of issuance costs 53,354 0
Proceeds from issuance of common stock pursuant to at-the-market offering, net of discounts and issuance costs 13,494 0
Proceeds from exercise of common stock options 4 0
Net cash provided by financing activities 67,391 0
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 57,973 (23,133)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 48,944 78,612
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 106,917 55,479
Supplemental disclosure of non-cash operating, investing and financing activities:    
Interest payments on venture debt 408 506
Deferred transaction costs included in accrued expenses and other current liabilities 90 0
Receivable from exercise of stock options $ 150 $ 0