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Balance Sheet Components

12 Months Ended

Dec. 31, 2024

3. Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	As of December 31,
	2024		2023
Prepaid expenses	$	3,114	$	874
Prepaid clinical trial costs		1,164		—
Interest receivable		953		—
Prepaid bonus		260		378
Prepaid taxes		39		75
Other current assets		200		92
Prepaid expenses and other current assets	$	5,730	$	1,419

Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):


	As of December 31,
	2024			2023
Lab equipment	$	5,679		$	4,967
Furniture, fixtures, and office equipment		1,222			713
Leasehold improvements		717			389
Computer equipment		401			218
Total property and equipment		8,019			6,287
Less: Accumulated depreciation and amortization		(2,929	)		(1,622	)
Property and equipment, net	$	5,090		$	4,665

Depreciation and amortization expense was $1.4 million and $0.8 million for the years ended December 31, 2024 and 2023, respectively.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):


	As of December 31,
	2024		2023
Accrued compensation expense	$	4,129	$	2,954
Accrued research and development expense		2,888		829
Accrued general and administrative expense		703		209
Accrued income taxes payable		—		200
Other current liabilities		78		85
Accrued expenses and other current liabilities	$	7,798	$	4,277