v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net loss $ (44,802) $ (45,220)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 3,812 5,373
Amortization of operating lease right-of-use assets 3,180 3,529
Depreciation 884 1,348
Amortization (accretion) of premiums (discounts) on securities, net (36) (1,286)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (982) 149
Accounts payable 48 (71)
Accrued expenses and other liabilities 1,066 1,332
Operating lease liabilities (3,277) (3,475)
Net cash used in operating activities (40,107) (38,321)
Cash flows from investing activities    
Proceeds from maturities of securities 76,596 74,241
Purchases of securities (37,494) (38,771)
Purchases of property and equipment (2,409) (1,033)
Net cash provided by investing activities 36,693 34,437
Cash flows from financing activities    
Proceeds from exercise of stock options 1,233 26
Proceeds from issuance of common stock under employee stock purchase plan 142 87
Net cash provided by financing activities 1,375 113
Net decrease in cash, cash equivalents and restricted cash (2,039) (3,771)
Cash, cash equivalents and restricted cash at beginning of period 13,390 28,648
Cash, cash equivalents and restricted cash at end of period 11,351 24,877
Supplementary cash flow information on non-cash activities:    
Acquisitions of property and equipment included in accounts payable and accrued expenses $ 489 $ 51