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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenue:    
Collaboration revenue $ 4,632 $ 2,983
Operating expenses:    
Research and development 160,636 155,289
General and administrative 52,346 50,161
Total operating expenses 212,982 205,450
Loss from operations (208,350) (202,467)
Other income:    
Interest income 4,149 3,522
Accretion (amortization) of investments 2,479 3,507
Change in fair value of short-term investment — related party 432 (485)
Other income, net 148 41
Total other income, net 7,208 6,585
Net loss attributable to common stockholders, basic (201,142) (195,882)
Net loss attributable to common stockholders, diluted $ (201,142) $ (195,882)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (1.35) $ (1.65)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (1.35) $ (1.65)
Weighted-average common shares outstanding, diluted (in shares) 148,758,527 118,600,381
Weighted-average common shares outstanding, basic (in shares) 148,758,527 118,600,381
Comprehensive loss:    
Net loss $ (201,142) $ (195,882)
Change in unrealized loss on investments, net of tax 81 16
Comprehensive loss (201,061) (195,866)
Related Party    
Revenue:    
Collaboration revenue 4,586 1,609
Nonrelated Party    
Revenue:    
Collaboration revenue $ 46 $ 1,374