Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 12,469	$ 37,983
Marketable securities, current	66,962	74,960
Prepaid expenses and other current assets	1,978	2,284
Total current assets	81,409	115,227
Property and equipment, net	154	237
Right-of-use assets	209	801
Other assets	296	297
Total assets	82,068	116,562
Current liabilities:
Accounts payable	2,020	3,155
Accrued expenses	8,331	7,857
Operating lease liabilities, current	217	403
Total current liabilities	10,568	11,415
Operating lease liabilities, noncurrent	0	435
Total liabilities	10,568	11,850
Commitments and contingencies (see Note 6)
Stockholders’ equity:
Preferred stock, $0.00001 par value, 5,000,000 shares authorized at June 30, 2026 and December 31, 2025. No shares issued or outstanding at June 30, 2026 and December 31, 2025.
Common stock, $0.00001 par value, 1,000,000,000 shares authorized; 53,460,432 and 53,331,766 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively.
Additional paid-in capital	554,160	551,082
Accumulated deficit	(482,578)	(446,454)
Accumulated other comprehensive income (loss)	(82)	84
Total stockholders’ equity	71,500	104,712
Total liabilities and stockholders’ equity	$ 82,068	$ 116,562

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).