v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets:      
Cash and cash equivalents $ 17,983 $ 40,405 $ 49,761
Marketable securities 16,462 40,081 118,509
Prepaid expenses and other current assets 11,914 1,030 4,578
Total current assets 46,359 81,516 172,848
Property and equipment, net 1,201 1,911 3,322
Right-of-use assets 2,878 4,149 6,539
Restricted cash 1,004 1,004 1,004
Total assets 51,442 88,580 183,713
Current liabilities:      
Accounts payable 365 12 1,818
Accrued expenses and other current liabilities 17,853 12,291 11,278
Operating lease liabilities, current portion 1,974 3,048 2,966
Financing lease liabilities 4 11 24
Total current liabilities 20,196 15,362 16,086
Operating lease liabilities, net of current portion 928 1,224 3,824
Other non-current liabilities 1 3 206
Total liabilities 21,125 16,589 20,116
Commitments and contingencies (Note 10)
Redeemable convertible preferred stock 330,028 338,028 338,028
Stockholders' deficit:      
Common stock 2 1 1
Additional paid-in-capital 41,722 29,874 20,923
Accumulated other comprehensive income (loss) (3) 23 (27)
Accumulated deficit (341,432) (295,935) (195,328)
Total stockholders' deficit (299,711) (266,037) (174,431)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit $ 51,442 $ 88,580 $ 183,713