v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 70,372 $ 60,241
Marketable securities 290,962 342,414
Collaboration receivable 4,611 0
Prepaid expenses and other current assets 17,012 10,479
Total current assets 382,957 413,134
Marketable securities, long-term 69,295 111,379
Property and equipment, net 12,379 14,867
Operating lease right-of-use assets, net 16,548 18,143
Other non-current assets 11,436 9,188
Total assets 492,615 566,711
Current liabilities    
Accounts payable 12,522 11,159
Accrued and other current liabilities 25,431 26,874
Deferred revenue 360 360
Deferred grant reimbursements 3,986 0
Operating lease liabilities, current portion 5,374 5,592
Total current liabilities 47,673 43,985
Deferred revenue, net of current portion 2,955 745
Derivative liability 384 358
Operating lease liabilities, long-term portion 14,256 15,821
Long-term debt, net 19,587 0
Other liabilities 101 138
Total liabilities 84,956 61,047
Commitments and contingencies (Note 8)
Stockholders’ equity    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value, 300,000,000 shares authorized at June 30, 2026 and December 31, 2025; 55,214,097 and 57,607,874 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 6 6
Additional paid-in-capital 1,266,099 1,221,235
Accumulated other comprehensive gain (loss) (446) 727
Accumulated deficit (858,000) (716,304)
Total stockholders’ equity 407,659 505,664
Total liabilities and stockholders’ equity $ 492,615 $ 566,711