v3.26.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net loss $ (38,541) $ (49,157)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash lease expense 484 326
Stock-based compensation expense 5,434 3,759
Depreciation expense 745 2,452
Net amortization of premiums and discounts on marketable securities 3 (420)
Loss on disposal of property and equipment 0 81
Changes in operating assets and liabilities:    
Accounts receivable 969 607
Prepaid expenses and other current assets (345) (445)
Accounts payable 1,952 1,194
Accrued expenses and other current liabilities (2,523) (508)
Deferred revenue 0 (997)
Operating lease liabilities (1,273) (133)
Other non-current assets 28 (439)
Net cash used in operating activities (33,067) (43,680)
Investing Activities:    
Purchases of marketable securities (75,083) (11,161)
Proceeds from maturities of marketable securities 25,000 32,901
Purchases of property and equipment (58) (259)
Net cash (used in) provided by investing activities (50,141) 21,481
Financing Activities:    
Proceeds from the issuance of common stock in connection with the at-the-market program, net of offering costs 5,020 0
Proceeds from the issuance of common stock and pre-funded warrants in connection with the private placement, net of offering costs 80,258 0
Proceeds from exercises of stock options 17 177
Net cash provided by financing activities 85,295 177
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) (9)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,084 (22,031)
Cash, cash equivalents and restricted cash, beginning of period 25,230 59,049
Cash, cash equivalents and restricted cash, end of period 27,314 37,018
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued expenses 0 7
Supplemental cash flow information:    
Cash paid for income taxes 108 1
Cash paid for operating lease liabilities $ 3,602 $ 2,761