v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (36,124) $ (38,646)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,935 3,176
Depreciation 58 69
Accretion of discounts on marketable securities (767) (1,564)
Non-cash lease income (5) (4)
Gain on termination of lease, net (24) 0
Loss on sales and disposals of fixed assets, net 25 38
Other, net 1 (16)
Change in operating assets and liabilities:    
Prepaid expenses and other assets 306 3,167
Operating lease right-of-use assets and liabilities 0 0
Accounts payable (1,135) (3,981)
Accrued expenses 474 1,193
Net cash used in operating activities (34,256) (36,568)
Cash flows from investing activities:    
Purchases of property and equipment 0 (15)
Proceeds from sale of property and equipment 0 30
Purchases of marketable securities (37,404) (46,689)
Maturities of marketable securities 46,001 86,374
Net cash provided by investing activities 8,597 39,700
Cash flows from financing activities:    
Proceeds from the exercise of stock options and common stock issued under the 2020 Plan 143 113
Net cash provided by financing activities 143 113
Impact of exchange rates on cash and cash equivalents 2 6
Net (decrease) increase in cash and cash equivalents (25,514) 3,251
Cash and cash equivalents    
Cash and cash equivalents - beginning of period 37,983 40,876
Cash and cash equivalents - end of period $ 12,469 $ 44,127