Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities
Net loss	$ (71,433)	$ (103,691)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	11,618	25,306
Depreciation and amortization expense	208	208
Accretion of premium and discounts on marketable securities	(3,061)	(6,512)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,743	8,194
Other assets	(4,197)
Accounts payable	4,386	1,218
Accrued expenses and other liabilities	(2,602)	(6,703)
Operating lease liabilities	(95)	(87)
Net cash used in operating activities	(63,433)	(82,067)
Cash flows from investing activities
Purchases of marketable securities	(223,368)	(174,460)
Sales and maturities of marketable securities	324,266	355,948
Net cash provided by investing activities	100,898	181,488
Cash flows from financing activities
Proceeds from issuance of common stock under ESPP	138	150
Repurchase of common stock	(14,093)
Issuance of restricted stock units	(485)
Net cash (used in) provided by financing activities	(14,440)	150
Net increase in cash and cash equivalents	23,025	99,571
Cash and cash equivalents at the beginning of period	64,696	143,823
Cash and cash equivalents at the end of period	$ 87,721	$ 243,394