v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (28,103) $ (19,205)
Adjustment to reconcile net loss to net cash used in operating activities:    
Non-cash stock-based compensation 3,745 1,509
Non-cash lease expense 459 443
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (213) (2,058)
Accounts payable (859) (1,195)
Accrued expenses and other current liabilities 3,073 (2,486)
Operating lease liabilities (476) (476)
Net cash used in operating activities (22,374) (23,468)
Cash flows from financing activities:    
Proceeds from the exercise of common stock warrants and pre-funded warrants 85,142 8,712
Proceeds from issuance of common stock, common stock warrants, and pre-funded warrants, net of issuance costs 0 23,051
Proceeds from warrant inducement, net of issuance costs 0 22,027
Proceeds from employee stock purchases 150 112
Net cash provided by financing activities 85,292 53,902
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 62,918 30,434
Cash, cash equivalents, restricted cash, and restricted cash equivalents at the beginning of period 71,893 13,986
Cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of period 134,811 44,420
Supplemental disclosure of cash flow information:    
Cash received during the period for interest 3,087 814
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of common stock warrants issued in warrant inducement 0 30,433
Offering expenses included in accounts payable and accrued expenses and other current liabilities $ 0 $ 41