Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2025

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash in the balance sheets that sum to the total of the same such amounts shown in the statements of cash flows (in thousands):

	March 31, 2025		December 31, 2024
Cash and cash equivalents	$	70,771	$	136,586
Restricted cash	339		339
Total cash, cash equivalents and restricted cash	$	71,110	$	136,925

Schedule of Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash in the balance sheets that sum to the total of the same such amounts shown in the statements of cash flows (in thousands):

	March 31, 2025		December 31, 2024
Cash and cash equivalents	$	70,771	$	136,586
Restricted cash	339		339
Total cash, cash equivalents and restricted cash	$	71,110	$	136,925

Costs Associated With Exit or Disposal Activities

A summary of the accrued liabilities activity recorded in connection with the wind-down of Neoleukin’s Phase 1 trial of NL-201 for the three months ended March 31, 2025 is as follows (in thousands):

	Balance at December 31, 2024		Liability Adjustment		Amounts Paid		Balance at March 31, 2025
Trial wind-down costs:
Phase 1 NL-201 Trial	$	209	$	87	$	(109)	$	187

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potentially dilutive securities have been excluded from the diluted per share calculations as they would be anti-dilutive:

	Three Months Ended March 31,
	2025	2024
Outstanding stock options	2,086,334	1,475,458
Restricted stock units	279,458	222,530
Performance stock units	252,124	252,124
Total	2,617,916	1,950,112