Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash flows from operating activities
Net loss	$ (28,796)	$ (14,873)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	15	16
Stock-based compensation expense	2,474	2,484
Amortization of premiums and accretion of discounts on marketable securities, net	(588)	(1,763)
Change in fair value of embedded derivatives	(190)	50
Amortization of right-of-use asset	30	28
Realized gain on marketable securities	(3)	(2)
Non-cash interest expense	299	268
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	950	(226)
Other long-term assets	16	35
Accounts payable	(4,592)	1,700
Accrued clinical trial expenses	(3,796)	(2,020)
Accrued expenses and other liabilities	60	(3,533)
Finance lease liability	0	(23)
Net cash used in operating activities	(34,121)	(17,859)
Cash flows from investing activities
Purchases of marketable securities	(35,048)	(45,292)
Proceeds from maturities and sales of marketable securities	63,816	36,100
Purchases of property and equipment	(79)	(11)
Net cash provided by (used in) investing activities	28,689	(9,203)
Cash flows from financing activities
Proceeds from issuance of common stock, net of issuance costs	0	7,938
Proceeds from exercise of stock options	37	0
Payment for financing lease	0	(739)
Payments for deferred offering costs	0	(60)
Repurchase of common shares to pay employee withholding taxes	(73)	(32)
Net cash provided by (used in) financing activities	(36)	7,107
Net change in cash and cash equivalents and restricted cash	(5,468)	(19,955)
Cash and cash equivalents and restricted cash at the beginning of the period	35,859	67,119
Cash and cash equivalents and restricted cash at the end of the period	30,391	47,164
Supplemental disclosure of cash flow information
Cash paid for income taxes	0	0
Cash paid for interest	724	756
Supplemental disclosure of noncash investing and financing activities
Deferred offering costs in accrued expenses and other current liabilities	$ 0	$ 78