Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 35,769	$ 65,300
Marketable securities	80,569	131,147
Accounts receivable	2,932	1,761
Related party collaboration receivable	222	151
Prepaid expenses and other current assets	5,736	4,328
Total current assets	125,228	202,687
Property and equipment, net	11,194	13,136
Restricted cash	2,736	2,736
Marketable securities, non-current	32,476	5,244
Other non-current assets	214
Operating lease, right-of-use assets	25,905	28,478
Total assets	197,753	252,281
Current liabilities:
Accounts payable	1,614	5,013
Accrued expenses	7,951	12,098
Operating lease liabilities	6,876	7,840
Deferred revenue	244	1,590
Total current liabilities	16,685	26,541
Operating lease liabilities, net of current portion	25,691	28,659
Other non-current liabilities	1,000	1,000
Total liabilities	43,376	56,200
Commitments, contingencies, and other liabilities (see note 7)
Stockholders' equity:
Preferred stock, $0.001 par value: 5,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, $0.001 par value: 240,000,000 and 120,000,000 shares authorized at June 30, 2026 and December 31, 2025, respectively; 61,273,390 and 59,047,860 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	61	59
Additional paid-in capital	653,052	641,895
Accumulated other comprehensive (loss) income	(421)	32
Accumulated deficit	(498,315)	(445,905)
Total stockholders' equity	154,377	196,081
Total liabilities and stockholders' equity	$ 197,753	$ 252,281

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).