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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (80,604) $ (36,949)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 8,796 7,615
Lease expense (189) (82)
Depreciation expense 318 311
Net accretion of discount on marketable securities (5,256) (1,843)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (8,465) (1,065)
Accounts payable 1,141 (403)
Accrued expenses 13,436 (1,022)
Other assets 63 (21)
Net cash used in operating activities: (70,760) (33,459)
Cash flows from investing activities:    
Purchase of property and equipment (515) (164)
Purchase of marketable securities (227,872) (101,233)
Maturities and sales of marketable securities 143,000 134,750
Net cash provided by (used in) investing activities (85,387) 33,353
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 161,806  
Proceeds from exercise of stock options and warrants 77 30
Net cash provided by financing activities 161,883 30
Net increase (decrease) in cash, cash equivalents and restricted cash 5,736 (76)
Cash, cash equivalents and restricted cash at beginning of period 28,088 28,164
Cash, cash equivalents and restricted cash at end of period 33,824 28,088
Supplemental disclosure of non-cash investing and financing activities:    
Leased assets obtained in exchange for new operating lease liabilities 465 790
Offering costs included in accounts payable and accrued expense $ 50  
Proceeds from exercise of stock options included in other current assets   $ 9