v3.26.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities        
Net loss $ (22,371) $ (43,300) $ (42,411) $ (99,466)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation expense 200 400 513 895
Stock-based compensation expense     8,441 15,291
Gain on sale of property and equipment     (94) 0
Non-cash operating lease expense     1,677 1,628
Net amortization (accretion) on short-term investments     299 3,339
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     781 1,970
Other non-current assets     131 43
Accounts payable     1,051 (4,580)
Accrued liabilities     (2,052) (8,622)
Operating lease liabilities     (362) 35
Net cash used in operating activities     (32,026) (89,467)
Cash flows from investing activities        
Purchase of short-term investments     (82,216) (65,756)
Maturity of short-term investments     93,487 170,731
Purchase of property and equipment     0 (374)
Proceeds from sale of property, plant and equipment     119 0
Net cash provided by investing activities     11,390 104,601
Cash flows from financing activities        
Proceeds from issuances of common stock under benefit plans     74 498
Net cash provided by financing activities     74 498
Net (decrease) increase in cash and cash equivalents     (20,562) 15,632
Cash and cash equivalents and restricted cash at beginning of period     46,927 72,670
Cash, cash equivalents and restricted cash at end of period 26,365 88,302 26,365 88,302
Supplemental disclosures of cash flow information:        
Cash paid for interest     0 1,457
Reconciliation of cash, cash equivalents, and restricted cash reported in the balance sheets        
Cash and cash equivalents 24,883 86,820 24,883 86,820
Restricted cash 1,482 1,482 1,482 1,482
Total cash, cash equivalents, and restricted cash $ 26,365 $ 88,302 26,365 88,302
Supplemental disclosures of noncash investing activities:        
Purchase of property and equipment in accounts payable and accrued liabilities     $ 0 $ 112