Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (44,773)	$ (43,857)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	8,859	13,835
Change in fair value of CVR liability	(2,400)	430
Net accretion of discount on marketable securities	(2,642)	(2,423)
Interest proceeds from maturities of zero coupon US Treasury Bills	530	0
Changes in operating assets and liabilities:
Accounts payable	3,023	2,210
Accrued and other liabilities	(5,998)	8,151
Related party accounts payable	1,945	(6,507)
Prepaid expenses and other assets	462	(381)
Net cash used in operating activities	(40,994)	(28,542)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from maturities and sales of marketable securities	71,383	47,750
Purchases of marketable securities	(71,444)	(152,713)
Net cash used in investing activities	(61)	(104,963)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of Series B non-voting convertible preferred stock in connection with private placement, net of placement and other offering costs	0	169,205
Payments related to CVR	0	(1,430)
Payment of deferred offering costs in connection with shelf registration	(93)	0
Proceeds from employee stock option exercises and employee stock plan purchases	335	4,390
Cash settlement of employee stock option award	(117)	0
Net cash provided by financing activities	125	172,165
Effect of exchange rate on cash, cash equivalents, and restricted cash	0	(4)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(40,930)	38,656
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
Beginning of period	89,423	189,215
End of period	48,493	227,871
Supplemental Disclosure of Non-Cash Investing and Financing Information:
Unpaid deferred offering costs in connection with shelf registration	69	0
Unpaid amounts related to issuance of Series B non-voting convertible preferred stock in connection with private placement	0	355
Reconciliation of Cash, Cash Equivalents, and Restricted Cash Reported in the Statement of Financial Position:
Cash and cash equivalents	48,493	227,552
Restricted cash	0	319
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 48,493	$ 227,871