Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 33,218	$ 26,749
Marketable securities	150,236	60,041
Prepaid expenses and other current assets	11,850	3,385
Total current assets	195,304	90,175
Property and equipment, net	881	684
Operating lease right-of-use assets	2,838	3,078
Restricted cash	606	1,339
Other assets	596	659
Total assets	200,225	95,935
Current liabilities:
Accounts payable	2,424	1,283
Accrued expenses	20,872	7,386
Operating lease liabilities, current	1,060	837
Total current liabilities	24,356	9,506
Operating lease liabilities	4,057	4,709
Total liabilities	28,413	14,215
Commitments and contingencies (See Note 8)
Stockholders’ equity:
Preferred stock; $0.001 par value per share; 5,000,000 shares authorized as of December 31, 2024 and December 31, 2023; no shares issued and outstanding as of December 31, 2024 and December 31, 2023
Common stock, $0.001 par value per share; 115,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 63,815,065 and 43,909,069 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	64	43
Additional paid-in capital	440,758	270,150
Accumulated deficit	(269,158)	(188,554)
Accumulated other comprehensive gain	148	81
Total stockholders' equity	171,812	81,720
Total liabilities and stockholders' equity	$ 200,225	$ 95,935

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).