CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 462,065	$ 489,711
Prepaid expenses and other assets	8,689	12,822
Total current assets	470,754	502,533
Property and equipment, net	136	155
Right of use asset – operating lease	552	690
Other assets	6,635	6,618
Total assets	478,077	509,996
Current liabilities:
Operating lease liability – current portion	591	607
Total current liabilities	19,120	17,990
Operating lease liability – net of current portion	0	131
Total liabilities	19,120	18,121
Commitments and Contingencies
Stockholders’ equity:
Preferred stock $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024	0	0
Common stock, $0.0001 par value, 500,000,000 and 500,000,000 shares authorized; 54,528,975 and 54,444,180 shares issued and 54,528,975 and 54,440,013 shares outstanding as of March 31, 2025 and December 31, 2024, respectively	7	7
Additional paid-in capital	716,812	712,884
Accumulated deficit	(257,862)	(221,016)
Total stockholders’ equity	458,957	491,875
Total liabilities and stockholders’ equity	478,077	509,996
Nonrelated Party
Current liabilities:
Accounts payable	2,355	3,893
Accrued expenses and other current liabilities	12,283	12,875
Related Party
Current liabilities:
Accounts payable	385	615
Accrued expenses and other current liabilities	$ 3,506	$ 0