Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 76,319	$ 59,820
Short-term investments	182,859	268,312
Prepaid expenses and other current assets	9,408	6,511
Total current assets	268,586	334,643
Right-of-use asset	4,546	5,114
Other assets	8,792	2,606
Total assets	281,924	342,363
Current liabilities:
Accounts payable	738	4,320
Accrued expenses	15,907	13,427
Current portion of operating lease liabilities	1,399	1,384
Total current liabilities	18,044	19,131
Long-term portion of operating lease liabilities	3,367	3,969
Total liabilities	21,411	23,100
Commitments (Note 7)
Stockholders' equity:
Common stock, $0.001 par value per share, 150,000,000 shares authorized; 56,434,219 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	57	57
Additional paid-in capital	906,703	898,513
Accumulated other comprehensive (loss) gain	(16)	163
Accumulated deficit	(741,555)	(674,794)
Total stockholders' equity	260,513	319,263
Total liabilities and stockholders' equity	281,924	342,363
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).