Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 74,755	$ 71,367
Marketable securities	161,264	195,317
Accounts receivable	1,623	1,504
Related party collaboration receivable (see note 8)	487	676
Prepaid expenses and other current assets	7,077	7,945
Total current assets	245,206	276,809
Property and equipment, net	13,929	14,314
Restricted cash	2,874	2,874
Marketable securities, non-current	59,103	65,704
Operating lease, right-of-use assets	32,128	33,349
Total assets	353,240	393,050
Current liabilities:
Accounts payable	2,634	3,996
Accrued expenses	9,053	14,171
Operating lease liabilities	7,430	7,227
Deferred revenue (see Note 8)	21,095	24,394
Total current liabilities	40,212	49,788
Operating lease liabilities, net of current portion	34,566	36,499
Deferred revenue, net of current portion	4,760	6,003
Other non-current liabilities	1,000	1,000
Total liabilities	80,538	93,290
Commitments and contingencies (see note 7)
Stockholders' equity:
Preferred stock, $0.001 par value: 5,000,000 shares authorized at March 31, 2025 and December 31, 2024; no shares issued and outstanding at March 31, 2025 and December 31, 2024
Common stock, $0.001 par value: 120,000,000 shares authorized at March 31, 2025 and December 31, 2024; 55,209,485 and 54,731,316 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	55	55
Additional paid-in capital	630,051	626,296
Accumulated other comprehensive loss	(199)	(407)
Accumulated deficit	(357,205)	(326,184)
Total stockholders' equity	272,702	299,760
Total liabilities and stockholders' equity	$ 353,240	$ 393,050

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 value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).