CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)
Cash flows used in operating activities:
Net loss	$ (51,890)	$ (45,761)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation expense	5,681	5,209
Non cash lease expense	2,413	3,348
Depreciation expense	1,700	1,315
Change in fair value of short-term investment — related party	1,056	(1,166)
Amortization of premiums and discount on short-term investments	(164)	(675)
Deferred income taxes	0	134
Changes in operating assets and liabilities:
Collaboration receivable — related party	(17)	0
Prepaid expenses and other current assets	(789)	(2,794)
Accounts payable	1,884	(5,880)
Accrued expenses and other current liabilities	(6,655)	(4,475)
Accrued settlement payment — related party	0	(13,500)
Deferred revenue — related party	(1,438)	0
Lease liabilities	(638)	(3,462)
Net cash used in operating activities	(48,857)	(67,707)
Cash flows used in investing activities:
Maturities of investments	3,000	72,500
Purchases of investments	(48,320)	(107,208)
Purchases of property and equipment	(2,422)	(2,324)
Net cash used in investing activities	(47,742)	(37,032)
Cash flows provided by financing activities:
Proceeds from research and development funding liability	6,000	6,000
Proceeds from follow-on offering, net of issuance costs	0	132,055
Proceeds from issuance of pre-funded warrants, net of issuance costs	0	18,800
Proceeds from ESPP offerings	0	436
Net proceeds from stock option exercises	0	36
Net cash provided by financing activities	6,000	157,327
Net change in cash, cash equivalents, and restricted cash	(90,599)	52,588
Cash, cash equivalents, and restricted cash at beginning of period	196,538	55,070
Cash, cash equivalents, and restricted cash at end of period	105,939	107,658
Reconciliation of cash, cash equivalents and restricted cash:
Cash, cash equivalents, and restricted cash at end of period	105,939	107,658
Less: restricted cash	14,062	13,496
Total cash, and cash equivalents	91,877	94,162
Supplemental cash flow information:
Right-of-use assets obtained in exchange for new operating lease liabilities	83,757	44,935
Decrease in right-of-use assets due to lease termination	3,120	0
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 985	$ 833