v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (99,490) $ (103,512)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,079 1,077
Accretion of discount on available-for-sale securities (891) (3,106)
Stock-based compensation 8,969 9,283
Reduction in the carrying amount of right-of-use assets 852 731
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 332 841
Other non-current assets 275 (2,032)
Accounts payable 787 1,091
Accrued and other current liabilities (5,166) 8,843
Operating lease liabilities (1,550) (1,342)
Net cash used in operating activities (94,803) (88,126)
Investing activities:    
Purchases of property and equipment (137) (89)
Purchases of available-for-sale securities (15,842) (120,509)
Proceeds from maturities of available-for-sale securities 83,000 291,300
Net cash provided by investing activities 67,021 170,702
Financing activities:    
Proceeds from the exercise of common stock options 793 62
Proceeds from Employee Stock Purchase Plan purchases 487 182
Proceeds from the issuance of common stock 65,766 0
Payment of financing costs (2,046) (32)
Net cash provided by financing activities 65,000 212
Increase in cash, cash equivalents and restricted cash 37,218 82,788
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 2
Cash, cash equivalents and restricted cash    
Beginning of period 163,083 50,530
End of period 200,302 133,320
Supplemental disclosure of cash flow information:    
Cash paid for amounts included in the measurement of lease liability 2,606 2,518
Non-cash investing and financing activities:    
Deferred offering costs included in accounts payable and accrued liabilities 18 0
Deferred offering costs included in other non-current assets 0 81
Deemed dividend on modification of common stock warrants $ 0 $ 1,857