Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 13,667	$ 22,563
Investment securities	216,007	222,914
Prepaid expenses and other current assets	3,970	2,563
Total current assets	233,644	248,040
Property and equipment, net	1,377	1,410
Right-of-use asset, related party	2,027	2,216
Other assets	427	427
Total assets	237,475	252,093
Current liabilities:
Accounts payable	3,180	2,186
Accrued expenses and other current liabilities (including related party amounts of $821 and $800 respectively)	5,056	6,276
Total current liabilities	8,236	8,462
Operating lease liability, net, related party	1,320	1,534
Total liabilities	9,556	9,996
Commitments and contingencies (See Note 8)
Stockholders' equity:
Common stock, $0.0001 par value; 200,000,000 shares authorized at March 31, 2025 and December 31, 2024; 56,768,678 and 56,754,341 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	6	6
Additional paid-in capital	472,392	468,830
Accumulated deficit	(244,929)	(227,214)
Accumulated other comprehensive income	450	475
Total stockholders' equity	227,919	242,097
Total liabilities and stockholders' equity	$ 237,475	$ 252,093