Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 24,029	$ 35,995
Marketable debt securities, available-for-sale	204,864	209,898
Prepaid expenses and other current assets	8,380	7,298
Total current assets	237,273	253,191
Property and equipment, net	2,348	2,770
Operating lease right-of-use assets	23,832	26,271
Prepaid expenses and other assets	4,113	4,108
Restricted cash	2,627	2,627
Total assets	270,193	288,967
Current liabilities
Accounts payable	5,335	7,208
Accrued expenses	27,029	29,351
Total current liabilities	32,364	36,559
Long-term lease liability	32,442	35,704
Other long-term liabilities	500	500
Total liabilities	65,306	72,763
Commitments and contingencies (see Note 11)
EQUITY
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 250,000,000 shares authorized; 98,260,613 and 69,085,980 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively	98	69
Additional paid-in capital	1,503,192	1,407,394
Accumulated other comprehensive (loss) income	(495)	196
Accumulated deficit	(1,297,908)	(1,191,455)
Total stockholders’ equity	204,887	216,204
Total liabilities and stockholders’ equity	$ 270,193	$ 288,967

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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- 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).