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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (116,390) $ (95,907)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 303 277
Non-cash lease expense 875 863
Non-cash interest income on marketable securities (5,135) (6,547)
Stock-based compensation expense, including employee stock purchase plan expense 13,320 16,259
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (960) 1,475
Other assets and long-term deposits (5,649) (2,589)
Accounts payable (1,175) (13)
Other current liabilities 7,353 8,972
Operating lease liabilities (931) (857)
Net cash used in operating activities (108,389) (78,067)
Cash flows from investing activities:    
Purchase of equipment 0 (159)
Maturities of marketable securities 253,794 226,786
Purchases of marketable securities (247,370) (205,729)
Net cash provided by investing activities 6,424 20,898
Cash flows from financing activities:    
Issuance of shares under at-the-market offering, net of issuance costs of $166 0 22,787
Issuance costs for shares issued under 2024 private placement (6,514)  
Proceeds from borrowings under Credit Facility (Note 11) 3,000  
Proceeds from issuance of common stock under employee stock purchase plan 748 650
Proceeds from exercise of stock options 511 1,081
Net cash (used in) provided by financing activities (2,255) 24,518
Net decrease in cash and cash equivalents (104,220) (32,651)
Cash and cash equivalents at beginning of period 139,480 68,539
Cash and cash equivalents at end of period 35,260 $ 35,888
Supplemental disclosure of cash flow information    
Right-of-use asset obtained in exchange for operating lease liabilities $ 896