v3.26.1
Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (17,538) $ (16,233)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 384 453
Stock-based compensation 1,658 2,837
Non-cash lease expense 125 301
Non-cash investment income, net 230 39
Other (18) (5)
Changes in operating assets and liabilities:    
Accounts receivable 2 17
Other receivables 0 19
Prepaid expenses and other assets (821) 603
Accounts payable 741 (967)
Accrued and other current liabilities 171 (87)
Deferred revenue (19) (3)
Net cash used in operating activities (15,085) (13,026)
Cash flows from investing activities    
Purchases of marketable securities (11,671) (71,863)
Proceeds from maturities and sales of marketable securities 27,110 32,586
Purchases of property and equipment (24) (284)
Purchase of intangible assets (36) 0
Net cash provided by (used in) investing activities 15,379 (39,561)
Cash flows from financing activities    
Proceeds from public offering of common stock, net of issuance costs 0 53,610
Proceeds from exercise of stock options 63 48
Proceeds from employee stock purchase plan 99 75
Finance lease principal payments (2) (173)
Net cash provided by financing activities 160 53,560
Net increase in cash and cash equivalents 454 973
Cash and cash equivalents at beginning of period 3,944 4,043
Cash and cash equivalents at end of period 4,398 5,016
Supplemental disclosure of cash flow information    
Cash paid for interest 3 6
Supplemental disclosure of non-cash investing and financing information    
Purchases of property and equipment in accounts payable and accrued and other current liabilities $ 50 $ 76