Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 59,820	$ 175,530
Short-term investments	268,312	71,000
Prepaid expenses and other current assets	6,511	4,412
Total current assets	334,643	250,942
Right-of-use asset	5,114	363
Other assets	2,606	3,361
Total assets	342,363	254,666
Current liabilities:
Accounts payable	4,320	1,513
Accrued expenses	13,427	9,708
Current portion of operating lease liabilities	1,384	329
Total current liabilities	19,131	11,550
Long-term portion of operating lease liabilities	3,969
Total liabilities	23,100	11,550
Commitments (Note 6)
Stockholders' equity:
Common stock, $0.001 par value per share, 150,000,000 shares authorized; 56,434,219 and 41,034,797 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively	57	41
Additional paid-in capital	898,513	728,285
Accumulated other comprehensive gain	163
Accumulated deficit	(674,794)	(580,534)
Total stockholders' equity	319,263	243,116
Total liabilities and stockholders' equity	342,363	254,666
Preferred stock
Stockholders' equity:
Preferred stock
Series X redeemable convertible preferred stock
Stockholders' equity:
Preferred stock	$ 95,324	$ 95,324

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).