Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 138,933	$ 80,235
Available-for-sale securities	129,177	68,685
Prepaid expenses and other current assets	10,530	8,382
Total current assets	278,640	157,302
Non-current assets:
Operating lease, right-of-use assets	23,133	24,295
Property and equipment, net	4,317	4,747
Other non-current assets	278	366
Restricted cash	1,924	1,952
Total non-current assets	29,652	31,360
Total assets	308,292	188,662
Current liabilities:
Accounts payable	4,704	4,237
Accrued expenses and other current liabilities	16,546	19,852
Operating lease liabilities	1,943	1,787
Finance lease liabilities	953	1,231
Derivative liabilities	5,700	3,150
Total current liabilities	29,846	30,257
Non-current liabilities:
Operating lease liabilities, excluding current portion	20,155	21,159
Total non-current liabilities	20,155	21,159
Total liabilities	50,001	51,416
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock, $0.001 par value - 10,000,000 shares authorized; no shares issued or outstanding at June 30, 2025 and December 31, 2024
Common stock, $0.001 par value - 240,000,000 and 120,000,000 shares authorized at June 30, 2025 and December 31, 2024, respectively; 77,602,741 and 40,468,141 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	78	40
Additional paid-in capital	1,120,463	920,609
Accumulated other comprehensive income	(38)	47
Accumulated deficit	(862,212)	(783,450)
Total stockholders’ equity	258,291	137,246
Total liabilities and stockholders’ equity	$ 308,292	$ 188,662

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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Balance Type:	credit
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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).