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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 29,903 $ 49,351
Marketable securities 210,883 212,798
Prepaid expenses and other current assets 3,490 5,137
Total current assets 244,276 267,286
Property and equipment, net 1,509 1,080
Right-of-use assets 91 119
Other assets 50 50
Total assets 245,926 268,535
Current liabilities:    
Accounts payable 4,245 5,335
Accrued expenses 6,106 5,545
Operating lease liability, current 130 171
Total current liabilities 10,481 11,051
Share repurchase liability 23 42
Total liabilities 10,504 11,093
Commitments and contingencies (Note 9)
Stockholders' equity (deficit)    
Undesignated preferred stock, $0.0001 par value, 10,000,000 shares authorized and zero issued and outstanding as of March 31, 2025 and 10,000,000 shares authorized and zero issued and outstanding as of December 31, 2024 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized and 33,424,371 issued and outstanding as of March 31, 2025 and 500,000,000 shares authorized and 33,421,525 issued and outstanding as of December 31, 2024 5 5
Additional paid-in-capital 396,749 394,887
Accumulated deficit (161,385) (137,505)
Accumulated other comprehensive income 53 55
Total stockholders' equity 235,422 257,442
Total liabilities and stockholders' equity $ 245,926 $ 268,535