v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (59,025) $ (71,079)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,392 1,376
Accretion of marketable securities   (2,063)
Non-cash interest expense related to note payable 245 224
Stock-based compensation 4,822 6,687
Loss on disposal of property and equipment 99  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 609 (489)
Right-of-use assets and lease liabilities, net 25 2,355
Accounts payable 1,888 123
Accrued expense and other liabilities 164 (2,741)
Deferred revenue (2,033) (5,246)
Net cash used in operating activities (51,814) (70,853)
Cash flows from investing activities:    
Purchases of property and equipment (563) (2,811)
Proceeds from sale of property and equipment 28  
Purchases of marketable securities   (87,472)
Maturities of marketable securities   152,250
Net cash (used in) provided by investing activities (535) 61,967
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee stock purchase plan 99 191
Cash paid for debt issuance costs   (400)
Cash paid for financing costs   (200)
Net cash provided by (used in) financing activities 99 (409)
Net increase (decrease) in cash, cash equivalents and restricted cash (52,250) (9,295)
Cash, cash equivalents, and restricted cash - beginning of period 157,437 183,720
Cash, cash equivalents, and restricted cash - end of period 105,187 174,425
Summary of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets:    
Cash and cash equivalents 100,156 169,394
Restricted cash 5,031 5,031
Total cash, cash equivalents, and restricted cash 105,187 174,425
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 1,144 1,144
Supplemental disclosure of non-cash investing and financing activities:    
Purchase of property and equipment in accounts payable and accrued liabilities   $ 928