Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024	[1]
Current assets
Cash and cash equivalents	$ 93,732	$ 71,188
Short-term investments	148,065	284,536
Prepaid expenses and other current assets (Note 5)	3,791	6,540
Total current assets	245,588	362,264
Property and equipment, net (Note 4)	4,344	5,525
Operating lease right-of-use assets (Note 15)	24,794	27,243
Restricted cash	1,482	1,482
Other non-current assets	392	435
Total assets	276,600	396,949
Current liabilities
Accounts payable	485	5,960
Accrued research and development	7,779	14,363
Accrued liabilities (Note 6)	8,173	12,353
Operating lease liabilities, current (Note 15)	1,187	542
Total current liabilities	17,624	33,218
Operating lease liabilities, non-current (Note 15)	28,231	29,439
Long-term debt (Note 7)	30,439	30,211
Total liabilities	76,294	92,868
Commitments and Contingencies (Note 14)
Stockholders’ equity
Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized at September 30, 2025 and December 31, 2024, 300,000 shares designated as Series A Junior Participating Preferred Stock at September 30, 2025 and none designated as Series A Junior Participating Preferred Stock at December 31, 2024; and none issued or outstanding at September 30, 2025 and December 31, 2024 (Note 8 and 10)	0	0
Common stock, $0.0001 par value per share; 300,000,000 shares authorized at September 30, 2025 and December 31, 2024; and 61,449,290 and 60,860,838 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively; (Note 9)	6	6
Additional paid-in capital	1,036,085	1,013,806
Accumulated deficit	(835,819)	(710,052)
Accumulated other comprehensive gain	34	321
Total stockholders’ equity	200,306	304,081
Total liabilities and stockholders’ equity	$ 276,600	$ 396,949

[1] The condensed balance sheet as of December 31, 2024 has been derived from the audited financial statements as of that date.