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 $ (46,404) $ (4,312)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on investments (491) (1,744)
Non cash lease expense 1,412 1,383
Change in fair value of 2023 Common Warrants (6,560) (58,971)
Depreciation expense 852 673
Stock-based compensation including ESPP 3,960 3,586
Changes in operating assets and liabilities:    
Accounts payable (768) 2,080
Accrued liabilities 1,620 (1,952)
Operating lease liabilities (2,613) (2,295)
Other liabilities (47) 0
Deferred revenue 0 17
Other assets 2,412 777
Net cash and cash equivalents used in operating activities (46,627) (60,758)
Cash flows from investing activities:    
Maturities of short-term investments 60,000 90,000
Purchase of short-term investments 0 (125,460)
Purchases of property and equipment (197) (345)
Net cash and cash equivalents provided by (used in) investing activities 59,803 (35,805)
Cash flows from financing activities:    
Proceeds from issuance of common stock, common warrants and pre-funded warrants in connection with 2025 PIPE Offering, net of costs 0 101,343
Payments on finance lease (86) (11)
Proceeds from the ESPP purchase 236 180
Net cash and cash equivalents provided by financing activities 150 101,512
Net increase in cash, cash equivalents, and restricted cash 13,326 4,949
Cash, cash equivalents, and restricted cash, beginning of period 18,413 37,107
Cash, cash equivalents, and restricted cash, end of period 31,739 42,056
Supplemental disclosures of noncash financing and investing activities:    
Acquisition of right-of-use asset through operating lease obligation $ 9,349 $ 0