v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:        
Net loss $ (10,726) $ (10,807) $ (29,660) $ (78,434)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation     11,616 14,208
Depreciation and amortization 200 200 697 569
Changes in operating assets and liabilities:        
Prepaid and other current assets     390 5,128
Accounts payable and accrued expenses     (875) 38,127
Accrued development expense     5 (1,074)
Accrued compensation and benefits     (977) (995)
Other liabilities     (23) (33)
Net cash used in operating activities     (18,827) (22,504)
Cash flows from investing activities:        
Purchases of property and equipment     (52) (80)
Net cash used in investing activities     (52) (80)
Cash flows from financing activities:        
Issuance of common stock, net of issuance costs     1,617 0
Proceeds from exercise of stock options     0 90
Net cash provided by financing activities     1,617 90
Net decrease in cash and cash equivalents     (17,262) (22,494)
Cash and cash equivalents at beginning of period     95,502 128,574
Cash, cash equivalents and restricted cash at end of period 78,240 106,080 78,240 106,080
Reconciliation of cash, cash equivalents and restricted cash        
Cash and cash equivalents 46,990 106,080 46,990 106,080
Restricted cash 31,250 0 31,250 0
Cash, cash equivalents and restricted cash at end of period $ 78,240 $ 106,080 $ 78,240 $ 106,080