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Supplementary Balance Sheet Information (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Investments Available-for-sale

Investments available for sale consisted of the following:

 

 

 

As of March 31, 2025

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Market Value

 

Maturity less than 1 year:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

22,507

 

 

$

23

 

 

$

(2

)

 

$

22,528

 

Commercial paper

 

 

316

 

 

 

—

 

 

 

—

 

 

 

316

 

U.S. treasury securities

 

 

20,234

 

 

 

1

 

 

 

(1

)

 

 

20,234

 

Total maturity less than 1 year

 

 

43,057

 

 

 

24

 

 

 

(3

)

 

 

43,078

 

Maturity 1 to 2 years:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

10,709

 

 

 

8

 

 

 

(3

)

 

 

10,714

 

U.S. government agencies

 

 

1,999

 

 

 

1

 

 

 

—

 

 

 

2,000

 

Total maturity 1 to 2 years

 

 

12,708

 

 

 

9

 

 

 

(3

)

 

 

12,714

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total short-term investments

 

$

55,765

 

 

$

33

 

 

$

(6

)

 

$

55,792

 

 

 

As of December 31, 2024

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Market Value

 

Maturity less than 1 year:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

17,192

 

 

$

27

 

 

$

(1

)

 

$

17,218

 

Commercial paper

 

 

312

 

 

 

1

 

 

 

—

 

 

 

313

 

U.S. treasury securities

 

 

16,475

 

 

 

3

 

 

 

(4

)

 

 

16,474

 

Total maturity less than 1 year

 

 

33,979

 

 

 

31

 

 

 

(5

)

 

 

34,005

 

Maturity 1 to 2 years:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

6,263

 

 

 

11

 

 

 

(3

)

 

 

6,271

 

Total maturity 1 to 2 years

 

 

6,263

 

 

 

11

 

 

 

(3

)

 

 

6,271

 

 

 

 

 

 

 

 

 

 

 

 

 

Total short-term investments

 

$

40,242

 

 

$

42

 

 

$

(8

)

 

$

40,276

 
Schedule of Components of Property and Equipment

Property and equipment consisted of the following:

 

(in thousands)

 

As of March 31,
2025

 

 

As of December 31,
2024

 

Furniture and office equipment

 

$

1,053

 

 

$

1,053

 

Leasehold improvements

 

 

2,568

 

 

 

2,568

 

Laboratory equipment

 

 

1,414

 

 

 

1,414

 

Property and equipment, gross

 

 

5,035

 

 

 

5,035

 

Less—accumulated depreciation

 

 

(4,230

)

 

 

(4,137

)

Property and equipment, net

 

$

805

 

 

$

898

 

 
Schedule of Accrued Liabilities

Accrued liabilities consisted of the following:

 

(in thousands)

 

As of March 31,
2025

 

 

As of December 31,
2024

 

Clinical trials

 

$

5,664

 

 

$

4,443

 

Accrued compensation

 

 

1,299

 

 

 

2,746

 

Unsettled investments payable

 

 

902

 

 

 

—

 

Research agreements and services

 

 

662

 

 

 

478

 

Other accrued liabilities

 

 

419

 

 

 

230

 

Total accrued liabilities

 

$

8,946

 

 

$

7,897