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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities:    
Net loss $ (103,175) $ (51,780)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,447 6,386
Lease expense (202) (132)
Depreciation expense 263 241
Amortization of premium on marketable securities (1,541) (4,074)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,062 (6,164)
Accounts payable 8,625 403
Accrued expenses 11,793 6,137
Other assets 54 38
Investing activities:    
Purchases of property and equipment (91) (336)
Purchases of marketable securities (83,600) (189,248)
Maturities of marketable securities 150,000 85,000
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 65,287 161,806
Proceeds from exercise of stock options and warrants   41
Net increase in cash, cash equivalents and restricted cash 56,922 8,318
Cash, cash equivalents and restricted cash at beginning of period 33,824 28,088
Cash, cash equivalents and restricted cash at end of period 90,746 36,406
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs included in accounts payable and accrued expense $ 301 50
Leased assets obtained in exchange for new operating lease liabilities   $ 465