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Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 35,014 $ 121,466
Investments 86,504  
Prepaid expenses and other current assets 4,603 2,828
Total current assets 126,121 124,294
Restricted cash 3,252 3,252
Investments 7,012  
Property and equipment, net 1,028 1,056
Lease right-of-use assets - finance, net 1,460 1,763
Lease right-of-use assets - operating 8,069 9,442
Total assets 146,942 139,807
Current liabilities:    
Accounts payable 6,417 3,794
Accrued expenses and other current liabilities 13,759 10,840
Current portion of lease liabilities - finance 570 518
Current portion of lease liabilities - operating 2,100 2,087
Total current liabilities 22,846 17,239
Non-current liabilities    
Non-current portion of lease liabilities - finance 817 1,247
Non-current portion of lease liabilities - operating 6,437 7,786
Total liabilities 30,100 26,272
Commitments and contingencies (Note 12)
Stockholders' equity:    
Common stock, $0.0001 par value, 500,000,000 shares authorized as of December 31, 2024; 33,079,209 shares issued and 33,071,261 shares outstanding as of December 31, 2024; 500,000,000 shares authorized as of December 31, 2023; 26,668,485 shares issued and 26,646,378 shares outstanding as of December 31, 2023 3 3
Treasury stock, at cost, 3,827 common shares at December 31, 2024 and 0 common shares at December 31, 2023 (17)  
Additional paid-in capital 397,132 295,372
Accumulated other comprehensive loss (103)  
Accumulated deficit (280,173) (181,840)
Total stockholders' equity 116,842 113,535
Total liabilities and stockholders' equity $ 146,942 $ 139,807