v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 20,213 $ 17,868
Short-term investments 52,413 89,713
Prepaid expenses and other current assets 1,021 2,030
Total current assets 73,647 109,611
Property and equipment, net 97 3,216
Right-of-use asset, net 0 43,659
Restricted cash 0 560
Other assets 0 13
Total assets 73,744 157,059
Current liabilities    
Accounts payable and accrued liabilities 4,995 6,727
Accrued compensation 2,773 2,643
Lease liabilities, current portion 0 3,167
Total current liabilities 7,768 12,537
Lease liabilities, non-current 0 45,868
Total liabilities 7,768 58,405
Commitments and contingencies (Note 8)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 70,000 shares authorized and no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 700,000 shares authorized, 22,475 shares issued and outstanding as of June 30, 2026; 700,000 shares authorized, 22,407 shares issued and outstanding as of December 31, 2025 2 2
Additional paid-in-capital 362,923 358,257
Accumulated other comprehensive income (loss) (32) 64
Accumulated deficit (296,917) (259,669)
Total stockholders' equity 65,976 98,654
Total liabilities and stockholders' equity $ 73,744 $ 157,059