v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 89,983 $ 91,145
Marketable securities 592,833 700,007
Prepaid expenses and other current assets 14,589 12,746
Total current assets 697,405 803,898
Property and equipment, net 890 1,159
Right-of-use assets, operating leases 697 1,096
Other assets 496 726
Total assets 699,488 806,879
Current liabilities:    
Accounts payable 6,074 9,018
Accrued external research and development expenses 16,321 11,451
Other accrued expenses 11,756 15,561
Operating lease liabilities, current 209 611
Total current liabilities 34,360 36,641
Long-term debt, net 59,745 29,159
Operating lease liabilities, non-current 1,133 1,253
Total liabilities 95,238 67,053
Commitments and contingencies (Note 14)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued or outstanding as of September 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 38,619,312 and 37,890,616 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 4 4
Additional paid-in capital 1,299,773 1,249,043
Accumulated other comprehensive (loss) income (2,770) 965
Accumulated deficit (692,757) (510,186)
Total stockholders' equity 604,250 739,826
Total liabilities and stockholders' equity $ 699,488 $ 806,879