Condensed Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash flows from operating activities
Net Income (Loss)	$ (35,996)	$ (62,412)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	12,861	12,644
Depreciation expense	94	23
Accretion of discounts on short-term investments, net	(4,250)	(1,292)
Amortization of intangible assets	725	0
Amortization of operating right-of-use asset	75	93
Changes in operating assets and liabilities:
Accounts receivable, net	(4,178)	0
Inventory	(212)	0
Prepaid expenses and other current assets	(606)	837
Deposits and other long-term assets	(94)	47
Accounts payable	(722)	2,204
Accrued expenses and other current liabilities	(26,984)	(1,765)
Deferred revenue	199	0
Operating lease liability	91	(108)
Net cash used in operating activities	(58,997)	(49,729)
Cash flows from investing activities
Cash paid for purchase of short-term investments	(189,796)	(47,162)
Proceeds from maturity of short-term investments	161,000	136,450
Cash paid for acquired intangible assets	(3,500)	0
Cash paid for purchase of property and equipment	(317)	0
Net cash (used in) provided by investing activities	(32,613)	89,288
Cash flows from financing activities
Proceeds from issuance of common stock upon stock option exercises	0	48
Cash provided by financing activities	0	48
Net (decrease) increase in cash and cash equivalents	(91,610)	39,607
Cash and cash equivalents, beginning of period	124,968	230,784
Cash and cash equivalents, end of period	33,358	270,391
Supplemental disclosures of noncash activities:
Capital Expenditures Incurred but Not yet Paid	2,000	0
Right-of-use asset obtained in exchange for new operating lease liabilities	$ 230	$ 0