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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (45,128) $ (35,513)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 352 664
Stock-based compensation expense 9,458 7,996
Revaluation of contingent consideration 1,900 3,800
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets 6,810 3,699
Accounts payable 4,484 (1,216)
Accrued expenses and other liabilities (9,348) (15,514)
Deferred income (2,510) 24,947
Net cash used in operating activities (33,982) (11,137)
Cash flows from investing activities:    
Purchases of property and equipment, net (87) (121)
Purchases of marketable securities (35,124) (49,555)
Proceeds from sales and maturities of marketable securities 74,040 68,630
Payment of deferred transaction consideration for in-licensed assets (833)  
Net cash provided by investing activities 37,996 18,954
Cash flows from financing activities:    
Payment of deferred transaction consideration for in-licensed assets (3,044)  
Payments of employee withholding taxes related to restricted stock unit award vesting (284) (76)
Proceeds from exercise of employee stock options and the issuance of stock   32
Net cash used in financing activities (3,328) (44)
Net increase in cash and cash equivalents 686 7,773
Cash and cash equivalents at beginning of period 24,570 39,878
Cash and cash equivalents at end of period 25,256 $ 47,651
Supplemental disclosure of non-cash investing and financing activities:    
Additions to property and equipment included in accounts payable $ 12