Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net loss	$ (113,625)	$ (68,994)	$ (58,293)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,029	2,060	1,955
Stock-based compensation	40,221	33,020	20,005
Accretion of discounts on investments, net	(17,574)	(10,585)	(7,688)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(827)	(3,280)	210
Other long-term assets	276	(375)	(1,119)
Accounts payable	977	1,584	277
Accrued expenses	6,290	4,426	(678)
Deferred revenue	0	(1,705)	(5,922)
Operating lease right-of-use assets and liabilities, net	(2)	35	678
Net cash used in operating activities	(82,235)	(43,814)	(50,575)
Cash flows from investing activities
Purchases of property and equipment	(1,043)	(359)	(1,850)
Purchases of short-term investments	(705,222)	(470,577)	(317,344)
Maturities of short-term investments	405,284	212,915	278,000
Net cash used in investing activities	(300,981)	(258,021)	(41,194)
Cash flows from financing activities
Proceeds from exercise of common stock options and employee stock purchase plan	5,292	14,968	3,018
Proceeds from the issuance of common stock and pre-funded common stock warrants, net of issuance costs	(347)	698,267	56,530
Net cash provided by financing activities	4,945	713,235	59,548
Net increase (decrease) in cash, cash equivalents and restricted cash	(378,271)	411,400	(32,221)
Cash, cash equivalents and restricted cash - beginning of year	431,421	20,021	52,242
Cash, cash equivalents and restricted cash - end of period	53,150	431,421	20,021
Supplemental disclosure of noncash investing and financing activities
Unpaid property and equipment	0	6	132
Unpaid issuance costs	0	347	0
Vesting of restricted common stock	0	20	149
Unrealized gain on available-for-sale securities, net	2,153	1,498	2,200
Operating lease liabilities arising from right-of-use assets	$ 943	$ 0	$ 0