CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 25,399	$ 20,158
Marketable securities	176,773	188,872
Inventory	949	0
Prepaid expenses and other current assets	3,876	2,773
Restricted cash	0	114
Total current assets	206,997	211,917
Property and equipment, net	1,258	651
Operating lease right-of-use asset	847	1,338
Other assets	1,602	1,398
Total assets	210,704	215,304
Current liabilities:
Accounts payable	4,323	4,257
Accrued liabilities	11,993	6,149
Total current liabilities	16,316	10,406
Operating lease liability, net	461	814
Total liabilities	16,777	11,220
Commitments and contingencies (Note 6)
Stockholders' equity:
Common stock, par value of $0.00001 per share; 300,000,000 shares authorized; 28,588,261 and 27,531,490 shares issued at September 30, 2025 and December 31, 2024, respectively; and 28,588,261 and 27,518,439 shares outstanding at September 30, 2025 and December 31, 2024, respectively	1	1
Additional paid-in capital	384,944	348,901
Accumulated deficit	(191,245)	(145,014)
Accumulated other comprehensive income	227	196
Total stockholders’ equity	193,927	204,084
Total liabilities and stockholders’ equity	$ 210,704	$ 215,304

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).

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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).