v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 32,286 $ 58,450
Marketable securities 288,075 189,656
Accounts receivable from collaboration with a related party 822 974
Prepaid expenses and other current assets 6,795 5,469
Total current assets 327,978 254,549
Property and equipment, net 315 221
Operating lease right-of-use (ROU) assets 2,227 2,508
Other assets 312 312
Total assets 330,832 257,590
Current liabilities    
Accounts payable 1,180 1,171
Accrued research and development expenses 2,007 2,387
Other accrued expenses 3,342 7,749
Deferred revenue from a related party 16,304 36,904
Operating lease liabilities - short-term 612 569
Total current liabilities 23,445 48,780
Operating lease liabilities - long-term 1,738 2,059
Total liabilities 25,183 50,839
Commitments and contingencies
Stockholders' equity    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value; 150,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 19,850,342 and 15,855,329 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 20 16
Additional paid-in capital 1,151,235 1,038,823
Accumulated other comprehensive loss (623) (41)
Accumulated deficit (844,983) (832,047)
Total stockholders' equity 305,649 206,751
Total liabilities and stockholders' equity $ 330,832 $ 257,590