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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (68,634) $ (41,481)
Reconciliation of net loss to net cash used in operating activities:    
Stock-based compensation expense 9,639 4,245
Right-of-use asset - operating lease 726 434
Accretion of discount/premium on investment securities (4,232) (86)
Other non-cash items 50 34
Changes in assets and liabilities:    
Prepaid expenses and other assets (4,081) (1,318)
Lease liability - operating lease (444) (451)
Accounts payable (235) 350
Accrued expenses 3,361 66
Net cash used in operating activities (63,850) (38,207)
Investing activities    
Purchases of short-term investments (3,495,821) (1,216,423)
Sales and maturities of short-term investments 3,308,000 1,353,500
Purchases of property and equipment (325) (9)
Net cash (used in) provided by investing activities (188,146) 137,068
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 35,245  
Proceeds from exercise of stock options and warrants 4,785 420
Net cash provided by financing activities 157,202 420
Net (decrease) increase in cash, cash equivalents and restricted cash (94,794) 99,281
Cash, cash equivalents and restricted cash, beginning of period 175,693 20,688
Cash, cash equivalents and restricted cash, end of period 80,899 119,969
Supplemental disclosure of non-cash transactions:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 5,753  
Conversion of Series X Preferred Stock into common stock   $ 1,074