Unaudited Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash flows from operating activities
Net loss	$ (23,508)	$ (14,760)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	519	532
Stock-based compensation	10,702	5,625
Accretion of discounts on investments, net	(4,221)	(1,787)
Changes in operating assets and liabilities:
Accounts receivable	0	(519)
Prepaid expenses and other current assets	(700)	(1,171)
Other long-term assets	92	(15)
Accounts payable	(1,637)	(456)
Accrued expenses	1,734	(1,573)
Deferred revenue	0	(733)
Operating lease right-of-use assets and liabilities, net	(5)	20
Net cash used in operating activities	(17,024)	(14,837)
Cash flows from investing activities
Purchases of property and equipment	(371)	(197)
Purchases of short-term investments	(371,291)	(178,539)
Maturities of short-term investments	31,270	65,000
Net cash used in investing activities	(340,392)	(113,736)
Cash flows from financing activities
Proceeds from exercise of common stock options	901	1,657
Proceeds from the issuance of common stock and pre-funded common stock warrants, net of issuance costs	(347)	320,514
Net cash provided by financing activities	554	322,171
Net increase (decrease) in cash, cash equivalents and restricted cash	(356,862)	193,598
Cash, cash equivalents and restricted cash - beginning of year	431,421	20,021
Cash, cash equivalents and restricted cash - end of period	74,559	213,619
Supplemental disclosure of noncash investing and financing activities
Unpaid property and equipment	237	0
Unpaid issuance costs	0	438
Unrealized gain (loss) on available-for-sale securities, net	$ 1,593	$ (1,189)