v3.26.3
UNAUDITED CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 95,376 $ 136,682
Prepaid expenses and other current assets 5,592 2,144
Total current assets 100,968 138,826
Property and equipment, net 1,489 1,726
Operating lease right-of-use assets 19,197 19,921
Other assets 2,477 2,495
Total assets 124,131 162,968
Current liabilities:    
Accounts payable 3,930 2,314
Accrued expenses 9,194 8,431
Accrued compensation 3,539 4,730
Other current liabilities 809 0
Operating lease liability, current 1,149 5
Total current liabilities 18,621 15,480
Operating lease liability, non-current 22,222 22,393
Other long-term liabilities 1,245 0
Total liabilities 42,088 37,873
Commitments and contingencies (Note 6)
Convertible preferred stock, $0.0001 par value; 85,552,612 shares authorized at June 30, 2026 and December 31, 2025; 18,258,960 shares issued and outstanding at June 30, 2026 and December 31, 2025; 257,153 aggregate liquidation preference at June 30, 2026 and December 31, 2025 256,823 256,823
Stockholders' deficit: [Abstract]    
Common stock, $0.0001 par value; 110,000,000 shares authorized at June 30, 2026 and December 31, 2025; 2,767,806 and 2,548,614 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. 1 1
Additional paid-in capital 5,014 3,300
Accumulated deficit (179,795) (135,029)
Total stockholders' deficit (174,780) (131,728)
Total liabilities, convertible preferred stock and stockholders' deficit $ 124,131 $ 162,968