BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 75,864	$ 59,406
Short-term investments	206,649	196,554
Prepaid expenses and other current assets	8,611	6,290
Total current assets	291,124	262,250
Long-term investments	45,216	0
Property and equipment, net	2,762	2,924
Other assets	7,755	8,968
Total assets	346,857	274,142
Current liabilities:
Accounts payable	3,130	1,548
Accrued liabilities	14,920	23,298
Total current liabilities	18,050	24,846
Other long-term liabilities	4,812	6,174
Total liabilities	22,862	31,020
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding at June 30, 2025 and December 31, 2024	0	0
Common stock, $0.0001 par value; 1,000,000,000 shares authorized; 86,187,328 and 71,021,855 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	9	7
Additional paid-in capital	952,949	805,510
Accumulated deficit	(629,150)	(562,774)
Accumulated other comprehensive income	187	379
Total stockholders' equity	323,995	243,122
Total liabilities and stockholders' equity	$ 346,857	$ 274,142

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).

Name:	us-gaap_AccountsPayableCurrent
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).