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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 257,606 $ 287,415
Accounts receivable 0 3,567
Prepaid expenses and other current assets 7,027 22,202
Current income tax receivable 2,250 2,250
Total current assets 266,883 315,434
Operating lease right-of-use assets 15,553 16,841
Property and equipment, net 3,715 4,297
Restricted cash 1,449 1,449
TOTAL ASSETS 287,600 338,021
CURRENT LIABILITIES:    
Accounts payable 1,816 1,967
Current portion of operating lease liabilities 2,597 2,408
Accrued expenses and other current liabilities 7,740 16,039
Total current liabilities 12,153 20,414
Operating lease liabilities, net of current portion 13,127 14,475
Total liabilities 25,280 34,889
STOCKHOLDERS' EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding 0 0
Common stock, par value of $0.0001 per share; 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 40,953,948 shares issued and 19,827,188 shares outstanding as of June 30, 2026 and 40,670,466 shares issued and 19,543,706 shares outstanding as of December 31, 2025 4 4
Treasury stock, at cost; 21,126,760 shares as of June 30, 2026 and December 31, 2025 (384,558) (384,558)
Additional paid-in capital 1,181,057 1,169,451
Accumulated deficit (534,183) (481,765)
Total stockholders' equity 262,320 303,132
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 287,600 338,021
Series A Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding $ 0 $ 0