Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 30,643	$ 43,483
Marketable securities	178,263	83,239
Prepaid expenses and other current assets	913	6,029
Total current assets	209,819	132,751
Property and equipment, net	102	353
Operating lease, right-of-use ("ROU") asset	9,099	6,731
Restricted cash	568	568
Total assets	219,588	140,403
Current liabilities:
Accounts payable	1,585	2,249
Accrued expenses	11,383	6,287
Operating lease obligations, current portion	1,000	338
Total current liabilities	13,968	8,874
Operating lease obligations, long-term portion	8,829	6,296
Total liabilities	22,797	15,170
Commitments and Contingencies
Stockholders' equity:
Common stock, $0.0001 par value: 300,000 shares authorized; 178,324 shares issued and outstanding at December 31, 2025; 137,820 shares issued and outstanding at December 31, 2024	18	14
Additional paid-in-capital	627,665	489,692
Accumulated other comprehensive income	280	210
Accumulated deficit	(431,172)	(364,683)
Total stockholders' equity	196,791	125,233
Total liabilities and stockholders' equity	$ 219,588	$ 140,403

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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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- 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).