v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (96,540) $ (120,723)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 14,589 16,489
Non-cash operating lease expense 120 1,777
Depreciation and amortization 15 176
Net accretion of investments in marketable securities 0 (2,185)
Impairment of held for sale assets 0 378
Loss (Gain) on disposal of property and equipment (71) 62
Amortization of debt issuance costs and accretion of final payment fee 812 303
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (32) 1,111
Accounts payable 769 (2,663)
Accrued liabilities (5,456) (4,650)
Operating lease liabilities (138) (1,873)
Other assets   (54)
Net cash used in operating activities (85,932) (111,852)
Investing activities:    
Purchases of marketable securities 0 (82,868)
Proceeds from maturities of marketable securities 0 157,341
Proceeds from sale of equipment 71 84
Net cash provided by investing activities 71 74,557
Financing activities:    
Proceeds from term loan, net 0 18,398
Payment of debt issuance costs in connection with term loan amendment (445) 0
Proceeds from employee stock purchase plan purchases 239 59
Proceeds from issuance of common stock in at-the-market transactions, net of commission and offering costs 20,371 0
Net cash provided by financing activities 20,165 18,457
Net change in cash and cash equivalents (65,696) (18,838)
Cash and cash equivalents and restricted cash at beginning of year 182,530 143,361
Cash and cash equivalents at end of period 116,834 124,523
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,458 134
Cash paid for income taxes 30 0
Supplemental disclosure of noncash investing and financing activities:    
Principal amount of debt extinguished upon conversion to common stock 2,050 0
Debt issuance costs reclassified to equity in connection with conversion 63 0
Right-of-use-asset in connection with new operating lease agreement 0 532
Operating lease liability in connection with new lease agreement $ 0 $ 505