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Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 224,287 $ 34,647
Available-for-sale marketable securities 145,507 22,896
Prepaid expenses and other current assets 5,694 3,121
Total current assets 375,488 60,664
Restricted cash 570 565
Property and equipment, net 2,714 2,326
Operating lease right-of-use assets 8,486 6,494
Finance lease right-of-use assets 1,552 1,790
Other non-current assets 1,174 3,356
Total assets 389,984 75,195
Current liabilities    
Accounts payable 7,451 4,358
Accrued compensation 1,363 2,812
Accrued license expense - related party 6,250 6,250
Other accrued expenses and current liabilities 3,083 3,519
Operating lease liabilities, short-term portion 2,739 1,964
Finance lease liabilities, short-term portion 979 956
Total current liabilities 21,865 19,859
Operating lease liabilities, net of short-term portion 6,461 5,238
Finance lease liabilities, net of short-term portion 667 921
Total liabilities 28,993 26,018
Commitments and contingencies (Note 7)
Stockholders' equity (deficit)    
Preferred stock, 10,000,000 shares authorized, $0.00001 par value, no shares issued and outstanding as of March 31, 2024; no shares authorized, issued, and outstanding as of December 31, 2023
Common stock, $0.00001 par value; 490,000,000 and 140,492,016 shares authorized as of March 31, 2024 and December 31, 2023, respectively; 43,115,244 and 1,250,103 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively
Additional paid-in capital 523,728 4,642
Accumulated other comprehensive income (loss) (1) 4
Accumulated deficit (162,736) (136,043)
Total stockholders' equity (deficit) 360,991 (131,397)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ 389,984 75,195
Redeemable Convertible Preferred Stock    
Current liabilities    
Redeemable convertible preferred stock, no par value; no shares authorized, issued and outstanding as of March 31, 2024 $0.00001 par value, 14,556,997 shares authorized as of December 31, 2023; 114,556,997 shares issued and outstanding as of December 31, 2023; liquidation preference of $181,250 as of December 31, 2023   $ 180,574