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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (30,989) $ (22,641)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,463 2,592
Operating lease right-of-use assets 207 222
Depreciation and amortization 68 75
Accretion of available-for-sale marketable securities, net (948) (778)
Changes in operating assets and liabilities:    
Accounts payable (1,759) (439)
Accrued expenses and other liabilities (390) (1,003)
Prepaid expenses and other current assets (5,770) (1,606)
Net cash used in operating activities (34,118) (23,578)
Investing activities:    
Proceeds from maturities of available-for-sale marketable securities 67,202 32,095
Purchases of available-for-sale marketable securities (162,049) (44,656)
Purchases of property, equipment and leasehold improvements (226)  
Net cash used in investing activities (95,073) (12,561)
Financing activities:    
Proceeds from offering of common stock, net of commissions 163,015 108,154
Proceeds from exercises of warrants   10,757
Proceeds from exercises of stock options 1,943 731
Proceeds from Employee Stock Purchase Plan 66 59
Payments of offering costs (445) (590)
Payments of finance lease   (11)
Net cash provided by financing activities 164,579 119,100
Net increase in cash and cash equivalents 35,388 82,961
Cash and cash equivalents at beginning of period 18,914 34,097
Cash and cash equivalents at end of period $ 54,302 $ 117,058