v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (18,012) $ (12,414)
Adjustment to reconcile net loss to net cash used in operating activities:    
Non-cash stock-based compensation 1,813 1,006
Non-cash lease expense 307 296
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (740) (1,423)
Accounts payable 138 (164)
Accrued expenses and other current liabilities 378 (3,383)
Operating lease liabilities (318) (318)
Net cash used in operating activities (16,434) (16,400)
Cash flows from financing activities:    
Proceeds from the exercise of common stock warrants 82,918 4,712
Proceeds from issuance of common stock, common stock warrants, and pre-funded warrants, net of issuance costs 0 23,051
Proceeds from employee stock purchases 66 48
Net cash provided by financing activities 82,984 27,811
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 66,550 11,411
Cash, cash equivalents, restricted cash, and restricted cash equivalents at the beginning of period 71,893 13,986
Cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of period 138,443 25,397
Supplemental disclosure of cash flow information:    
Cash received during the period for interest 1,869 522
Supplemental disclosure of non-cash investing and financing activities:    
Proceeds from the exercise of common stock warrants in prepaid expenses and other assets $ 0 $ 281