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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 (loss) income, as reported $ (24,544) $ 27,225
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Accretion of discount on investments (491) (1,034)
Non cash lease expense 982 905
Change in fair value of 2023 Common Warrants (6,371) (63,176)
Depreciation expense 601 453
Stock-based compensation including ESPP 2,678 2,119
Changes in operating assets and liabilities:    
Accounts payable 2,449 1,328
Accrued liabilities 5,170 (3,352)
Operating lease liabilities (1,665) (1,499)
Other liabilities (47) 0
Deferred revenue 0 428
Accounts receivable (27,778) 0
Other assets 938 190
Net cash and cash equivalents used in operating activities (48,078) (36,413)
Cash flows from investing activities:    
Maturities of short-term investments 60,000 20,000
Purchase of short-term investments 0 (103,336)
Purchases of property and equipment (70) (152)
Net cash and cash equivalents provided by (used in) investing activities 59,930 (83,488)
Cash flows from financing activities:    
Proceeds from issuance of common stock, common warrants and pre-funded warrants in connection with 2025 PIPE Offering, net of costs 0 101,386
Payments on finance lease (78) (1)
Proceeds from the ESPP purchase 236 180
Net cash and cash equivalents provided by financing activities 158 101,565
Net increase (decrease) in cash, cash equivalents, and restricted cash 12,010 (18,336)
Cash, cash equivalents, and restricted cash, beginning of period 18,413 37,107
Cash, cash equivalents, and restricted cash, end of period 30,423 18,771
Supplemental disclosures of noncash financing and investing activities:    
PIPE issuance costs unpaid at period end $ 0 $ (41)