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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (32,104) $ (30,007)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 295 150
Stock-based compensation expense 3,600 3,244
Amortization of premiums (discounts) on short-term investments (716) 672
Release of clinical trial funding commitment 0 139
Changes in operating assets and liabilities:    
Other assets 0 55
Accounts receivable and unbilled receivable 573 (115)
Prepaid expenses and other current assets 3,188 4
Operating lease right-of-use assets 408 408
Accounts payable and accrued expenses 1,428 1,325
Operating lease liabilities (420) (271)
Other liabilities 0 (34)
Net cash used in operating activities (23,748) (24,430)
Investing activities:    
Capital expenditures (574) (931)
Insurance proceeds from casualty loss 0 114
Maturities of short-term investments 80,534 61,229
Purchases of short-term investments (67,491) (80,428)
Sales of short-term investments 10,165 51,145
Net cash provided by investing activities 22,634 31,129
Financing activities:    
Proceeds from exercise of options 0 75
Net cash provided by financing activities 0 75
Net change in cash and cash equivalents (1,114) 6,774
Cash and cash equivalents—Beginning of period 16,347 11,943
Cash and cash equivalents—End of period 15,233 18,717
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of property and equipment included in accounts payable and accrued expenses $ 0 $ 255