v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flow from operating activities    
Net loss $ (52,410) $ (64,403)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 4,921 7,806
Depreciation 1,840 2,079
Amortization of premiums and discounts on marketable securities (613) (1,789)
Loss on disposal of fixed assets 105 79
Non-cash lease expense 2,573 2,376
Changes in operating assets and liabilities:    
Accounts receivable (1,171) (170)
Related party collaboration receivable (71) (175)
Prepaid expenses and other current assets (1,397) (1,826)
Other non-current assets (214)  
Accounts payable (3,399) (2,192)
Accrued expenses (4,147) (2,146)
Operating lease liabilities (3,932) (3,522)
Deferred revenue (1,346) (7,273)
Net cash used in operating activities (59,261) (71,156)
Cash flow from investing activities    
Purchases of property and equipment (14) (1,763)
Purchases of marketable securities (70,851) (114,790)
Proceeds from sales and maturities of marketable securities 94,357 159,687
Net cash provided by investing activities 23,492 43,134
Cash flow from financing activities    
Proceeds from the exercise of stock options 351 161
Proceeds from the purchase of common stock under ESPP 219 434
Proceeds from the issuance of common stock from at-the-market sales agreement, net of issuance costs 5,668  
Net cash provided by financing activities 6,238 595
Net decrease in cash, cash equivalents, and restricted cash (29,531) (27,427)
Cash, cash equivalents, and restricted cash, beginning of period 68,036 74,241
Cash, cash equivalents, and restricted cash, end of period $ 38,505 $ 46,814