Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 112,779	$ 172,921
Investments	533,281	483,714
Prepaid and other current assets	6,410	4,751
Total current assets	652,470	661,386
Property and equipment, net	32	38
Other assets	360	382
Total assets	652,862	661,806
Current liabilities:
Accounts payable	1,116	2,017
Accrued liabilities	13,602	13,096
Total current liabilities	14,718	15,113
Commitments and contingencies (Note 4)
Stockholders’ equity:
Common stock, $0.0001 par value; 500,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 82,454,950 and 81,536,557 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	8	8
Additional paid-in capital	1,134,644	1,103,854
Accumulated deficit	(496,508)	(457,169)
Total stockholders’ equity	638,144	646,693
Total liabilities and stockholders’ equity	$ 652,862	$ 661,806

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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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
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).