Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 28,468	$ 40,235
Short-term investments	113,897	145,193
Other receivables (including related party amounts of $30 and $0, respectively)	30	146
Prepaid expenses and other current assets	6,671	3,057
Total current assets	149,066	188,631
Restricted cash	461	258
Property and equipment, net	6,886	6,370
Operating lease right-of-use assets	12,709	13,794
Financing lease right-of-use asset	231	261
Other long-term assets	38	267
Total assets	169,391	209,581
Current liabilities:
Accounts payable (including related party amounts of $5 and $276, respectively)	1,215	1,121
Accrued expenses (including related party amounts of $0 and $713, respectively)	5,838	7,392
Current portion of operating lease liabilities	3,536	3,618
Current portion of financing lease liability	106	122
Other current liabilities	73
Total current liabilities	10,768	12,253
Operating lease liabilities, net of current portion	9,582	10,570
Financing lease liability, net of current portion		44
Other non-current liabilities		73
Total liabilities	20,350	22,940
Commitments and contingencies (Note 10)
Stockholders' equity :
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at June 30, 2025 and December 31, 2024; zero shares issued and outstanding as of June 30, 2025 and December 31, 2024
Common stock, $0.0001 par value; 700,000,000 shares authorized at June 30, 2025 and December 31, 2024; 24,393,524 and 24,291,607 shares issued and outstanding at June 30, 2025 and December 31, 2024 respectively	3	3
Additional paid-in capital	437,285	433,451
Accumulated other comprehensive income (loss)	2	(129)
Accumulated deficit	(288,249)	(246,684)
Total stockholders' equity	149,041	186,641
Total liabilities and stockholders' equity	$ 169,391	$ 209,581

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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Balance Type:	credit
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- 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).