v3.26.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating Activities          
Net loss       $ (20,743) $ (50,002)
Adjustments to reconcile net loss to net cash used in operating activities          
Depreciation expense     $ 500 66 935
Non-cash operating lease expense         1,557
Stock-based compensation expense       3,169 5,742
Change in fair value of warrant liability   $ (4,119) (227) (3,538) (227)
Gain on sale of property and equipment   0   (510)  
Changes in operating assets and liabilities:          
Prepaid expenses and other current assets       1,003 1,614
Other assets       (398) 615
Accounts payable       73 (4,703)
Accrued expenses and other current liabilities       (107) 1,308
Operating lease liabilities       (712) (1,718)
Net cash used in operating activities       (21,697) (44,879)
Investing Activities          
Proceeds from sale of property and equipment       550  
Net cash provided by investing activities       550  
Financing Activities          
Proceeds from issuances of common stock under at the market equity offering program $ 37,200       5,032
Proceeds from issuance of common stock, common warrants and pre-funded warrants from public offering         37,800
Proceeds from stock option exercise and purchases under the employee stock purchase plan       159 117
Payments of financing costs         (125)
Net cash provided by financing activities       159 42,824
Net decrease in cash, cash equivalents, and restricted cash       (20,988) (2,055)
Cash, cash equivalents, and restricted cash at the beginning of the period       56,181 58,648
Cash, cash equivalents, and restricted cash at the end of the period 56,593 35,193 56,593 35,193 56,593
Non-cash financing and investing activities:          
Financing costs included in accounts payable and accrued liabilities         619
Reconciliation of cash and cash equivalents, and restricted cash:          
Cash and cash equivalents 56,224 34,824 56,224 34,824 56,224
Restricted cash 369 369 369 369 369
Cash, cash equivalents, and restricted cash at the end of the period $ 56,593 $ 35,193 $ 56,593 $ 35,193 $ 56,593