Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 234,666	$ 253,798
Prepaid expenses and other current assets	3,885	2,974
Restricted cash	0	587
Total current assets	238,551	257,359
Property and equipment, net	793	1,185
Finance right-of-use assets, net	220	495
Operating right-of-use assets	3,234	874
Restricted cash	485	485
Other assets	577	640
Total assets	243,860	261,038
Current liabilities:
Accounts payable	1,624	1,093
Accrued expenses and other current liabilities	8,993	7,340
Finance lease liability	100	344
Operating lease liability	1,387	889
Total current liabilities	12,104	9,666
Operating lease liability, non-current	2,431	0
Finance lease liability, non-current	0	43
Total liabilities	14,535	9,709
Commitments and contingencies (Note 10)
Stockholders' Equity (Deficit):
Common stock, $0.0001 par value; 150,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 19,935,375 and 18,738,249 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively	2	2
Additional paid-in capital	520,933	474,160
Accumulated other comprehensive loss	0	(96)
Accumulated deficit	(291,610)	(222,737)
Total stockholders' equity	229,325	251,329
Total liabilities and stockholders' equity	$ 243,860	$ 261,038

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).