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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 39,154 $ 39,818
Short-term investments 110,481 139,662
Prepaid expenses and other current assets 1,692 2,149
Total current assets 151,327 181,629
Property and equipment, net 4,676 4,471
Operating lease right-of-use assets 3,306 3,554
Long-term investments 15,195 5,089
Restricted cash 198 198
Other assets 1,647 1,647
Total assets 176,349 196,588
Current liabilities:    
Accounts payable 3,691 758
Accrued expenses and other current liabilities 8,754 15,399
Operating lease liabilities, current 1,105 1,057
Total current liabilities 13,550 17,214
Operating lease liabilities, long-term 2,409 2,588
Total liabilities 15,959 19,802
Commitments and contingencies (Note 12)
Stockholders’ deficit:    
Common stock, $0.001 par value; 500,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 31,352,067 and 31,231,264 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 31 31
Additional paid-in capital 376,732 373,284
Accumulated other comprehensive income 283 447
Accumulated deficit (216,656) (196,976)
Total stockholders' equity 160,390 176,786
Total liabilities and stockholders' equity $ 176,349 $ 196,588