Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 87,721	$ 64,696
Marketable securities	291,992	390,025
Prepaid expenses and other current assets	5,891	7,634
Total current assets	385,604	462,355
Property and equipment, net	665	873
Other assets	4,394	197
Operating lease right-of-use assets, net	942	1,243
Total assets	391,605	464,668
Current liabilities
Accounts payable	8,844	4,458
Accrued expenses and other current liabilities	10,454	13,345
Current portion of operating lease liabilities	821	800
Total current liabilities	20,119	18,603
Operating lease liabilities	425	842
Income taxes payable	6,645	6,356
Total liabilities	27,189	25,801
Commitments and contingencies (see Note 11)
Stockholders’ equity:
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value; 300,000,000 shares authorized; 81,137,478 and 84,463,059 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	81	84
Additional paid-in capital	799,951	802,770
Accumulated other comprehensive gain	37	233
Accumulated deficit	(435,653)	(364,220)
Total stockholders’ equity	364,416	438,867
Total liabilities and stockholders’ equity	$ 391,605	$ 464,668

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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Balance Type:	credit
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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.