Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 52,446	$ 430,605
Short-term investments	943,565	594,568
Prepaid expenses and other current assets	9,542	8,493
Total current assets	1,005,553	1,033,666
Restricted cash	816	816
Property and equipment, net	4,688	4,864
Operating lease right-of-use assets	18,462	19,286
Other long-term assets	2,693	2,884
Total assets	1,032,212	1,061,516
Current liabilities:
Accounts payable	3,477	4,026
Accrued expenses	16,029	11,684
Current portion of operating lease liabilities	1,873	1,749
Total current liabilities	21,379	17,459
Operating lease liabilities, net of current portion	20,317	21,276
Total liabilities	41,696	38,735
Commitments and contingencies (Note 3)
Stockholders' equity:
Preferred stock, $0.001 par value; authorized shares - 10,000,000 at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024
Common stock, $0.001 par value; authorized shares - 200,000,000 at June 30, 2025 and December 31, 2024; issued and outstanding shares - 59,297,814 and 59,064,606 at June 30, 2025 and December 31, 2024, respectively	59	59
Additional paid-in capital	1,281,833	1,258,316
Accumulated other comprehensive income	3,747	2,163
Accumulated deficit	(295,123)	(237,757)
Total stockholders' equity	990,516	1,022,781
Total liabilities and stockholders' equity	$ 1,032,212	$ 1,061,516

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).