Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 64,696	$ 143,823
Marketable securities	390,025	434,283
Prepaid expenses and other current assets	7,634	12,349
Total current assets	462,355	590,455
Property and equipment, net	873	1,289
Other assets	197	1,396
Operating lease right-of-use assets, net	1,243	1,828
Total assets	464,668	594,968
Current liabilities
Accounts payable	4,458	4,252
Accrued expenses and other current liabilities	13,345	27,364
Current portion of operating lease liabilities	800	760
Total current liabilities	18,603	32,376
Operating lease liabilities	842	1,642
Income taxes payable	6,356	5,758
Total liabilities	25,801	39,776
Commitments and contingencies (see Note 8)
Stockholders’ equity:
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024 and 2023
Common stock, $0.001 par value; 300,000,000 shares authorized; 84,463,059 and 83,435,513 shares issued and outstanding as of December 31, 2024 and 2023	84	83
Additional paid-in capital	802,770	750,737
Accumulated other comprehensive gain	233	207
Accumulated deficit	(364,220)	(195,835)
Total stockholders’ equity	438,867	555,192
Total liabilities and stockholders’ equity	$ 464,668	$ 594,968

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due beyond one year or the operating cycle, whichever is longer. Alternate captions include income taxes payable, noncurrent.