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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (108,723) $ (70,335)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 50 17
Accretion of discount and amortization of premium on purchase of debt securities (6,906) (3,168)
Accretion of loan exit fee and amortization of loan costs 593 232
Reduction in the carrying amount of operating lease right-of-use assets 1,516 1,692
Stock-based compensation 14,585 8,272
Changes in operating assets and liabilities:    
Prepaid expense and other current assets 485 (636)
Other assets 342 (263)
Accounts payable (6,516) 309
Accrued and other liabilities 10,955 (1,161)
Operating lease liabilities (1,878) (1,996)
Net cash used in operating activities (95,497) (67,037)
Cash flows from investing activities    
Purchase of property and equipment (327) 0
Purchase of marketable securities (409,000) (171,730)
Proceeds from maturities of marketable securities 201,681 104,200
Proceeds from sale of marketable securities 4,000 9,543
Net cash used in investing activities (203,646) (57,987)
Cash flows from financing activities    
Proceeds from exercise of stock options and employee stock purchase plan 11,102 969
Proceeds from short swing settlement 37 0
Repurchase of common stock (13) 0
Proceeds from issuance of Class A common stock in follow-on offering 287,500 115,000
Payment of costs and underwriting discounts and commissions related to follow-on offering (17,908) (7,256)
Net cash provided by financing activities 280,718 108,713
Net decrease in cash and cash equivalents (18,425) (16,311)
Cash and cash equivalents, beginning of period 45,681 43,752
Supplemental disclosure of cash flow information    
Cash paid for interest expense 4,990 2,499
Cash paid for operating leases 2,343 2,238
Addition to right-of-use assets obtained from operating lease liabilities 2,487 0
Cash and cash equivalents [Member]    
Cash flows from financing activities    
Cash and cash equivalents, end of period $ 27,256 $ 27,441