Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 11,020	$ 16,051
Short-term investments	33,765	43,249
Prepaid expenses and other current assets	1,578	2,184
License agreement receivable	10,000	753
License agreement contract asset	0	9,509
Restricted cash	135	435
Total current assets	56,498	72,181
Investments	1,736	15,846
Deferred offering costs	417	417
Restricted cash	109	109
Operating lease right-of-use asset	1,934	2,090
Total assets	60,694	90,643
Current liabilities:
Accounts payable	6,172	4,569
Accrued expenses	2,477	3,793
Deferred revenue, current portion	1,770	1,642
Operating lease liability, current portion	444	407
Convertible debt	0	13,688
Total current liabilities	10,863	24,099
Deferred revenue	515	1,294
Warrant liability	2,904	7,998
Operating lease liability	1,945	2,175
Total liabilities	16,227	35,566
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, authorized 5,000,000 shares as of June 30, 2025 and December 31, 2024; 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value, 150,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 39,174,941 and 37,973,991 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	42	41
Additional paid-in capital	433,236	431,571
Accumulated deficit	(388,811)	(376,535)
Total stockholders' equity	44,467	55,077
Total liabilities and stockholders’ equity	$ 60,694	$ 90,643