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CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows used in operating activities    
Net Loss $ (18,213) $ (17,111)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,432 4,045
Net accretion of discount on investments (175) (742)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 452 (1,160)
Accounts payable (1,403) (1,204)
Accrued compensation (1,323) (477)
Accrued liabilities (388) (1,500)
Other current liabilities (453) (74)
Net cash used in operating activities (19,071) (18,223)
Cash flows from investing activities    
Purchases of investments (16,363) (33,973)
Maturities of investments 20,993 49,000
Net cash provided by investing activities 4,630 15,027
Cash flows from financing activities    
Proceeds from issuance of common stock in the 2026 Private Placement, net of placement agent fees and other offering costs 22,037  
Proceeds from issuance of pre-funded warrants in the 2026 Private Placement, net of placement agent fees and other offering costs 15,471  
Proceeds from issuance of common stock in the ATM Offerings, net of commissions and offering costs 1,441  
Payment of deferred offering costs related to the ATM Offerings (248)  
Proceeds from issuance of common stock under the ESPP 39 38
Proceeds from exercise of stock options 78 27
Net cash provided by financing activities 38,818 65
Net increase (decrease) in cash and cash equivalents 24,377 (3,131)
Cash and cash equivalents at the beginning of the period 19,941 21,351
Cash and cash equivalents at the end of the period 44,318 $ 18,220
Supplemental disclosure of noncash financing items    
2026 Private Placement Offering costs included in accounts payable and accrued liabilities 344  
Deferred offering costs related to the ATM Offerings included in accounts payable and accrued liabilities $ 86