v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows used in operating activities:        
Net loss $ (31,630) $ (11,216) $ (70,655) $ (17,711)
Adjustments to reconcile net loss to net cash used in operating activities:        
Non-cash lease expense     168 153
Accretion of investment discounts     (755) (1,124)
Stock-based compensation 3,154 2,694 5,356 5,558
Change in fair value of warrant liabilities 9,623 (12,293) 28,585 (22,353)
Changes in operating assets and liabilities:        
Prepaid expenses and other assets     (1,833) (265)
Accounts payable, accrued expenses and other liabilities     (5,981) 2,120
Operating lease liabilities     (174) (151)
Net cash used in operating activities     (45,289) (33,773)
Cash flows from investing activities:        
Purchase of available-for-sale short-term investments     (59,385) (59,254)
Proceeds from maturities of available-for-sale short-term investments     88,578 78,104
Net cash provided by investing activities     29,193 18,850
Cash flows from financing activities:        
Proceeds from exercise of stock options     91 115
Net cash provided by financing activities     91 115
Net change in cash and cash equivalents     (16,005) (14,808)
Cash and cash equivalents at beginning of period     22,808 20,549
Cash and cash equivalents at end of period $ 6,803 $ 5,741 6,803 5,741
Non-cash activities:        
Issuance of common stock in settlement of liability     598  
Unrealized loss on available-for-sale securities, net     (138) $ (74)
Series X1 Non-voting Convertible Preferred Stock [Member]        
Non-cash activities:        
Cashless conversion of Series X1 non-voting convertible preferred stock for common stock     $ 16,676