v3.26.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (50,541) $ (44,947)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 4,820 6,149
Depreciation 2,540 2,693
Loss on fixed assets write-off 0 181
Non-cash lease expense 2,690 2,664
Accretion of discounts on available-for-sale marketable securities (555) (1,825)
Amortization of non-cash collaboration revenue 0 (87)
Change in fair value of long-term investments 0 1,292
Impairment of right of use assets 634 0
Changes in operating assets and liabilities:    
Accounts receivable 305 384
Prepaid expenses and other assets 783 2,687
Accounts payable 1,114 2,284
Deferred revenue (491) (10,417)
Accrued expenses and other current liabilities 886 (2,476)
Operating lease liabilities (2,937) (2,818)
Other non-current liabilities 64 143
Net cash used in operating activities (40,688) (44,093)
Cash flows from investing activities    
Purchases of property and equipment (150) (415)
Proceeds from sale of property and equipment 0 37
Purchases of available-for-sale marketable securities (40,655) (40,796)
Maturities of available-for-sale marketable securities 77,959 84,974
Net cash provided by investing activities 37,154 43,800
Cash flows from financing activities    
Proceeds from issuance of common stock under the ESPP 74 109
Payment of deferred financing costs (34) (352)
Net cash provided by (used in) financing activities 40 (243)
Net decrease in cash, cash equivalents and restricted cash (3,494) (536)
Cash, cash equivalents and restricted cash at beginning of period 46,915 32,634
Cash, cash equivalents and restricted cash at end of period 43,421 32,098
Supplemental disclosure of non-cash information    
Deferred finance issuance costs included in accounts payable, accrued expenses and other current liabilities 2 183
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 39,028 26,850
Restricted cash 4,393 5,248
Cash, cash equivalents and restricted cash at end of period $ 43,421 $ 32,098