v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows used in operating activities:    
Net loss $ (48,764) $ (52,342)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense 5,707 10,499
Depreciation and amortization expense 696 1,071
Reduction in carrying amount of right-of-use asset 2,895 3,317
Net accretion of discounts on marketable securities (1,275) (1,364)
Other 42 48
Changes in operating assets and liabilities:    
Accounts receivable 1,067 901
Prepaid expenses and other current and long-term assets (1,537) 3,974
Accounts payable 263 889
Accrued expenses and other current liabilities 471 (6,103)
Operating lease liability (3,124) (2,833)
Deferred revenue 12,041 (3,399)
Net cash used in operating activities (31,518) (45,342)
Cash flows provided by (used in) investing activities:    
Proceeds from maturities of marketable securities 113,080 115,551
Purchases of marketable securities (111,641) (47,320)
Purchases of property and equipment, net (101) (185)
Net cash provided by investing activities 1,338 68,046
Cash flows provided by (used in) financing activities:    
Proceeds from exercise of stock options 781 0
Proceeds from issuance of common stock from at-the-market equity offering 33,548 0
Proceeds from exercise of warrants 2 0
Payments for repurchase of common stock for tax withholding (200) (155)
Other 56 109
Net cash provided by (used in) financing activities 34,187 (46)
Net change in cash, cash equivalents and restricted cash 4,007 22,658
Cash, cash equivalents and restricted cash at beginning of period 78,046 58,942
Cash, cash equivalents and restricted cash at end of period 82,053 81,600
Reconciliation of cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash at end of period 82,053 81,600
Less: restricted cash (3,443) (3,443)
Cash and cash equivalents at end of the period 78,610 78,157
Supplemental disclosures of cash flow information:    
Cash paid for leases 4,666 4,666
Supplemental disclosures of non-cash investing activities:    
Capital expenditures in accounts payable and accrued expenses $ 0 $ 294