Summary of significant accounting policies and basis of presentation (Tables)

12 Months Ended

Dec. 31, 2024

Summary of significant accounting policies and basis of presentation

Schedule of money market funds and marketable securities

Cash equivalents and marketable securities as of December 31, 2024, and 2023 consist of the following:

	Amortized Cost		Unrealized Gains		Unrealized Losses				Fair Value
					Less than 12 months		Greater than 12 months
	(in thousands)
As of December 31, 2024
Money market funds included in cash and cash equivalents	$	59,658	$	—	$	—	$	—	$	59,658
Marketable securities:
U.S. Treasury notes		125,996		32		(45)		(200)		125,783
U.S. Government agency securities		27,552		6		(5)		(35)		27,518
Certificates of deposit		4,280		6		—		—		4,286
Corporate bonds		95,016		18		(58)		—		94,976
Commercial paper		8,456		2		—		—		8,458
Total money market funds and marketable securities	$	320,958	$	64	$	(108)	$	(235)	$	320,679
As of December 31, 2023
Money market funds included in cash and cash equivalents	$	65,589	$	—	$	—	$	—	$	65,589
Marketable securities:
U.S. Treasury notes		102,966		81		(3)		—		103,044
U.S. Government agency securities		31,068		10		(3)		—		31,075
Corporate bonds		23,975		2		(7)		—		23,970
Commercial paper		3,985		—		—		—		3,985
Total money market funds and marketable securities	$	227,583	$	93	$	(13)	$	—	$	227,663

Reconciliation of cash, cash equivalents, and restricted cash

	As of December 31,
	2024		2023
	(in thousands)
Cash and cash equivalents	$	71,367	$	68,802
Restricted cash		2,874		1,593
Total cash, cash equivalents, and restricted cash	$	74,241	$	70,395

Outstanding potentially dilutive securities excluded in the calculation of diluted net (loss) income per share

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net (loss) income per share because to do so would be anti-dilutive:

	As of December 31,
	2024	2023	2022
Unvested restricted common stock awards	—	22,500	45,000
Unvested restricted common stock units	1,649,943	1,370,897	1,112,563
Outstanding stock options	8,800,464	7,425,444	6,199,571
Total	10,450,407	8,818,841	7,357,134

Schedule of weighted average number of shares, basic and diluted