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Condensed Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 104,663 $ 34,647
Available-for-sale marketable securities 216,924 22,896
Prepaid expenses and other current assets 3,787 3,121
Total current assets 325,374 60,664
Restricted cash 564 565
Property and equipment, net 3,151 2,326
Operating lease right-of-use assets 7,153 6,494
Finance lease right-of-use assets 1,078 1,790
Other non-current assets 1,876 3,356
Total assets 339,196 75,195
Current liabilities    
Accounts payable 9,932 4,358
Accrued compensation 4,440 2,812
Accrued license expense - related party 6,250 6,250
Other accrued expenses and current liabilities 6,432 3,519
Operating lease liabilities, short-term portion 3,000 1,964
Finance lease liabilities, short-term portion 931 956
Total current liabilities 30,985 19,859
Operating lease liabilities, net of short-term portion 4,968 5,238
Finance lease liabilities, net of short-term portion 237 921
Other non-current liabilities 296  
Total liabilities 36,486 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 September 30, 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 September 30, 2024 and December 31, 2023, respectively; 43,167,337 and 1,250,103 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively
Additional paid-in capital 528,588 4,642
Accumulated other comprehensive income 153 4
Accumulated deficit (226,031) (136,043)
Total stockholders' equity (deficit) 302,710 (131,397)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) 339,196 75,195
Redeemable Convertible Preferred Stock    
Current liabilities    
Redeemable convertible preferred stock, no par value; no shares authorized, issued and outstanding as of September 30, 2024; $0.00001 par value, 114,556,997 shares authorized as of December 31, 2023; 114,556,997 shares issued and outstanding as of December 31, 2023; liquidation preference of $181,273 as of December 31, 2023 $ 0 $ 180,574