Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 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):

	September 30, 2025		December 31, 2024
Cash and cash equivalents	$	71,005	$	136,586
Restricted cash	339		339
Total cash, cash equivalents and restricted cash	$	71,344	$	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):

	September 30, 2025		December 31, 2024
Cash and cash equivalents	$	71,005	$	136,586
Restricted cash	339		339
Total cash, cash equivalents and restricted cash	$	71,344	$	136,925

Schedule of 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 nine months ended September 30, 2025 is as follows (in thousands):

	Balance at December 31, 2024		Liability Adjustment		Amounts Paid		Balance at September 30, 2025
Trial wind-down costs:
Phase 1 NL-201 Trial	$	209	$	(92)	$	(117)	$	—

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:

	Nine Months Ended September 30,
	2025	2024
Outstanding stock options	2,112,391	1,384,182
Restricted stock units	257,797	225,489
Performance stock units	252,124	252,124
Shares issuable under 2023 Employee Stock Purchase Plan	10,494	—
Total	2,632,806	1,861,795