CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net loss	$ (39,717)	$ (17,349)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	805	946
Stock‑based compensation expense	4,744	5,087
Amortization/(accretion) of marketable securities	(548)	(1,338)
Changes in operating assets and liabilities:
Collaboration receivable	390	1,636
Prepaid expenses and other current assets	(2,461)	(2,273)
Right-of-use assets, operating leases	1,693	2,697
Other non-current assets	(20)	45
Accounts payable	641	(1,910)
Accrued expenses and other current liabilities	(5,952)	(5,459)
Income tax payable	0	135
Operating lease liabilities	(1,182)	(2,210)
Deferred revenue	(88)	(18,514)
Net cash used in operating activities	(41,695)	(38,507)
Cash flows from investing activities:
Purchases of property and equipment	(44)	(1,144)
Purchases of marketable securities	(11,825)	(80,020)
Maturities of marketable securities	38,856	85,947
Net cash provided by investing activities	26,987	4,783
Cash flows from financing activities:
Proceeds from exercise of stock options	100	350
Net cash provided by financing activities	100	350
Net decrease in cash, cash equivalents and restricted cash	(14,608)	(33,374)
Cash, cash equivalents, and restricted cash at beginning of period	94,344	105,161
Cash, cash equivalents, and restricted cash at end of period	79,736	71,787
Supplemental cash flow disclosures:
Purchases of property and equipment included in accounts payable and accrued expenses	0	108
Vesting of options early exercised subject to repurchase	$ 0	$ 14