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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (44,100) $ (23,754)
Reconciliation of net loss to net cash used in operating activities:    
Stock-based compensation expense 6,205 2,551
Right-of-use asset - operating lease 401 287
Accretion of discount/premium on investment securities (2,507) (86)
Other non-cash items 31 22
Changes in assets and liabilities:    
Prepaid expenses and other assets 476 (203)
Lease liability - operating lease (293) (296)
Accounts payable 828 41
Accrued expenses 3,074 (2,511)
Net cash used in operating activities (35,885) (23,949)
Investing activities    
Purchases of short-term investments (2,437,029) (302,923)
Sales and maturities of short-term investments 2,243,000 440,000
Purchases of property and equipment (305) (5)
Net cash (used in) provided by investing activities (194,334) 137,072
Financing activities    
Proceeds from public offering, net of underwriting discounts and issuance costs 117,172  
Proceeds from at-the-market offering, net of issuance costs 20,002  
Proceeds from exercise of stock options and warrants 4,727 310
Net cash provided by financing activities 141,901 310
Net (decrease) increase in cash, cash equivalents and restricted cash (88,318) 113,433
Cash, cash equivalents and restricted cash, beginning of period 175,693 20,688
Cash, cash equivalents and restricted cash, end of period 87,375 134,121
Supplemental disclosure of non-cash transactions:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 5,753  
Purchases of property and equipment in accounts payable and accrued liabilities $ 199  
Conversion of Series X Preferred Stock into common stock   $ 1,074