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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ (23,403,000) $ 25,043,000
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,225,000 2,335,000
Gain from change in fair value of warrant liabilities (0) (43,041,000)
Depreciation and amortization 220,000 311,000
Changes in operating assets and liabilities:    
Prepaid and other current assets 5,135,000 (1,333,000)
Accounts payable and accrued expenses 538,000 (970,000)
Accrued development expense 1,637,000 (1,240,000)
Accrued compensation and benefits (502,000) 28,000
Other liabilities (186,000) (260,000)
Net cash used in operating activities (11,336,000) (19,127,000)
Cash flows from investing activities:    
Purchases of property and equipment 0 0
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Proceeds from exercise of common stock warrants, net of exercise costs 0 22,160,000
Proceeds from issuance of common stock upon exercise of stock options 90,000 0
Net cash provided by financing activities 90,000 22,160,000
Net increase (decrease) in cash and cash equivalents (11,246,000) 3,033,000
Cash and cash equivalents at beginning of period 128,574,000 121,136,000
Cash and cash equivalents at end of period 117,328,000 124,169,000
Non-cash financing activities    
Issuance of warrants resulting in recognition of warrant liabilities 0 113,363,000
Derecognition of warrant liabilities upon exercise of warrants $ 0 $ (4,954,000)