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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 50,467 $ 57,387
Investments 0 15,600
Prepaid expenses and other current assets 4,208 6,228
Total current assets 54,675 79,215
Property and equipment, net 7,947 9,812
Other assets 1,749 2,022
Total assets 64,371 91,049
Current liabilities:    
Accounts payable 475 2,419
Accrued expenses and other current liabilities 4,861 6,498
Total current liabilities 5,336 8,917
Non-current operating lease liabilities 2,016 2,506
Total liabilities 7,352 11,423
Commitments and contingencies (Note 5)
Stockholders’ equity:    
Common stock, $0.0001 par value: 300,000,000 shares authorized; 47,903,215 shares issued and outstanding at June 30, 2025 and 47,714,708 shares issued and outstanding at December 31, 2024 5 5
Additional paid-in capital 464,893 461,339
Accumulated other comprehensive income 1 2
Accumulated deficit (407,880) (381,720)
Total stockholders’ equity 57,019 79,626
Total liabilities and stockholders’ equity $ 64,371 $ 91,049