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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 75,255 $ 64,039
Prepaid expenses and other current assets 2,453 2,344
Total current assets 77,708 66,383
Restricted cash 1,624 1,624
Property and equipment, net 2,895 3,858
Operating lease right-of-use assets 4,078 6,015
Finance lease right-of-use assets 90 427
Total assets 86,395 78,307
Current liabilities:    
Accounts payable 585 1,210
Accrued expenses 4,065 4,833
Deferred revenue, short-term 0 385
Operating lease liabilities, current portion 3,226 2,994
Finance lease liabilities, current portion 27 91
Financing liability, current portion 0 85
Total current liabilities 7,903 9,598
Long-term liabilities:    
Operating lease liabilities, net of current portion 3,046 5,493
Finance lease liabilities, net of current portion 47 70
Derivative tranche and other liabilities 16,732 2
Total liabilities 27,728 15,163
Commitments and contingencies (Note 4)
Stockholders' equity:    
Common stock, $0.0001 par value per share, 175,000,000 shares authorized as of September 30, 2025 and December 31, 2024, 46,880,185 and 20,161,072 shares issued and 46,880,185 and 20,145,129 shares outstanding as of September 30, 2025 and December 31, 2024, respectively 5 2
Additional paid-in capital 310,534 274,895
Accumulated deficit (251,872) (211,753)
Total stockholders' equity 58,667 63,144
Total liabilities and stockholders' equity $ 86,395 $ 78,307