v3.26.3
Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net loss $ (25,591) $ (24,047)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 576 696
Stock-based compensation 2,939 4,091
Non-cash lease expense 212 426
Non-cash investment income, net 53 72
Other (18) (5)
Changes in operating assets and liabilities:    
Accounts receivable (5) 20
Other receivables 0 19
Prepaid expenses and other assets (607) 115
Accounts payable 277 (915)
Accrued and other current liabilities (172) (71)
Deferred revenue (47) 96
Net cash used in operating activities (22,383) (19,503)
Cash flows from investing activities    
Purchases of marketable securities (13,699) (79,832)
Proceeds from maturities and sales of marketable securities 36,110 45,836
Purchases of property and equipment (158) (396)
Purchase of intangible assets (36) 0
Net cash provided by (used in) investing activities 22,217 (34,392)
Cash flows from financing activities    
Proceeds from public offering of common stock, net of issuance costs 0 53,610
Proceeds from exercise of stock options 111 441
Proceeds from employee stock purchase plan 99 75
Finance lease principal payments (2) (193)
Net cash provided by financing activities 208 53,933
Net increase in cash and cash equivalents 42 38
Cash and cash equivalents at beginning of period 3,944 4,043
Cash and cash equivalents at end of period 3,986 4,081
Supplemental disclosure of cash flow information    
Cash paid for interest 5 7
Supplemental disclosure of non-cash investing and financing information    
Purchases of property and equipment in accounts payable and accrued and other current liabilities $ 42 $ 6