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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Collaboration revenue $ 1,454 $ 591
Operating expenses:    
Research and development 40,562 37,774
General and administrative 13,284 11,158
Total operating expenses 53,846 48,932
Loss from operations (52,392) (48,341)
Other income:    
Interest income 1,182 676
Amortization of premiums and discount on short-term investments 339 830
Change in fair value of short-term investment — related party (1,056) 1,166
Other income, net 37 42
Total other income, net 502 2,714
Net loss before income taxes (51,890) (45,627)
Provision for income taxes 0 (134)
Net loss attributable to common stockholders, basic (51,890) (45,761)
Net loss attributable to common stockholders, diluted $ (51,890) $ (45,761)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.40) $ (0.44)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.40) $ (0.44)
Weighted-average common shares outstanding, basic (in shares) 130,884,490 104,466,178
Weighted-average common shares outstanding, diluted (in shares) 130,884,490 104,466,178
Comprehensive loss:    
Net loss $ (51,890) $ (45,761)
Change in unrealized loss on investments, net of tax (16) (80)
Comprehensive loss (51,906) (45,841)
Related Party    
Collaboration revenue 1,454 0
Nonrelated Party    
Collaboration revenue $ 0 $ 591