v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (15,902) $ (29,109)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 675 878
Stock-based compensation expense 3,809 2,886
Change in fair value of common stock warrant liabilities 640 50
Issuance costs allocated to common stock warrant liabilities   2,284
Changes in operating assets and liabilities:    
Collaboration and license agreement receivable (1,000)  
Prepaid and other assets (581) 3,080
Accounts payable (419) 1,522
Accrued expenses and other liabilities (2,987) (5,219)
Deferred revenue (25,340) 38,129
Net cash (used in) provided by operating activities (41,105) 14,501
Cash flows from investing activities:    
Purchases of property and equipment (575) (423)
Net cash used in investing activities (575) (423)
Cash flows from financing activities:    
Proceeds from issuance of prefunded warrants in connection with a follow-on offering, net of issuance costs 37,256  
Proceeds from issuance of prefunded warrants and common stock warrants in connection with a follow-on offering, net of issuance costs   47,318
Proceeds from issuance of common stock under employee stock purchase plan 36 40
Proceeds from exercise of stock options 1 9
Payments of issuance costs included in accounts payable or accrued expenses at prior year end (1,550)  
Net cash provided by financing activities 40,201 52,194
(Decrease) increase in cash, cash equivalents and restricted cash (1,479) 66,272
Cash, cash equivalents and restricted cash, beginning of period 139,338 57,073
Cash, cash equivalents and restricted cash, end of period 137,859 123,345
Supplemental disclosure of non-cash activities:    
Capital expenditures included in accounts payable or accrued expenses 10 284
Settlement Of Liabilities To Issue Common Stock By Issuing Common Stock 7,332  
Reconciliation to amounts within the consolidated balance sheets:    
Cash and cash equivalents 136,040 121,551
Restricted cash 1,819 1,794
Cash, cash equivalents and restricted cash, end of period 137,859 123,345
AbbVie Stock Purchase Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock   2,810
At-The-Market Offerings    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 4,458 $ 2,017