CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities:
Net loss	$ (30,514)	$ (27,927)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	242	485
Stock-based compensation expense	6,598	4,992
Revaluation of contingent consideration	1,800	3,000
Changes in operating assets and liabilities:
Accounts receivable	124	(27)
Prepaid expenses and other assets	7,031	2,317
Accounts payable	4,107	(1,609)
Accrued expenses and other liabilities	(10,643)	(14,368)
Deferred income	(1,795)
Net cash used in operating activities	(23,050)	(33,137)
Cash flows from investing activities:
Purchases of property and equipment	(64)	(121)
Purchases of marketable securities	(29,926)	(35,218)
Proceeds from sales and maturities of marketable securities	54,989	51,498
Payment of deferred transaction consideration for in-licensed assets	(833)
Net cash provided by investing activities	24,166	16,159
Cash flows from financing activities:
Payments of employee withholding taxes related to restricted stock unit award vesting	(284)	(66)
Net cash used in financing activities	(284)	(66)
Net increase (decrease) in cash and cash equivalents	832	(17,044)
Cash and cash equivalents at beginning of period	24,570	39,878
Cash and cash equivalents at end of period	$ 25,402	$ 22,834