Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 55,067	$ 56,805
Short-term investments	205,380	248,475
Restricted cash	105	105
Prepaid expenses and other current assets	9,690	4,417
Total current assets	270,242	309,802
Property and equipment, net	3,172	3,529
Operating lease right of use asset, net	11,047	1,442
Other assets	1,034	160
Total assets	285,495	314,933
Current liabilities
Accounts payable	3,176	1,954
Accrued expenses and other current liabilities	6,944	6,076
Operating lease liability	1,759	737
Total current liabilities	11,879	8,767
Operating lease liability, net of current portion	10,104	739
Total liabilities	21,983	9,506
Commitments and contingencies (Note 11)
Stockholders' equity (deficit)
Undesignated preferred stock, $0.001 par value; 10,000,000 shares and zero shares authorized at June 30, 2025 and December 31, 2024, respectively; zero shares issued and outstanding at both June 30, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value; 500,000,000 shares authorized at June 30, 2025 and December 31, 2024; 36,497,677 shares and 36,580,202 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	37	37
Additional paid-in capital	438,091	429,657
Accumulated other comprehensive income	(76)	(522)
Accumulated deficit	(174,540)	(123,745)
Total stockholders' equity	263,512	305,427
Total liabilities and stockholders' equity	$ 285,495	$ 314,933

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).