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STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating expenses:    
Research and development $ 109,818 $ 114,072
General and administrative 33,186 28,823
Total operating expenses 143,004 142,895
Loss from operations (143,004) (142,895)
Other income:    
Other income, net 13,536 15,048
Net loss (129,468) (127,847)
Other comprehensive income:    
Unrealized gain on investments 407 121
Comprehensive loss $ (129,061) $ (127,726)
Net loss per share, basic $ (1.47) $ (1.83)
Net loss per share, diluted $ (1.47) $ (1.83)
Weighted-average shares outstanding, basic 87,793,801 69,727,940
Weighted-average shares outstanding, diluted 87,793,801 69,727,940