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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net loss $ (38,635) $ (33,644)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 276 308
Stock-based compensation expense 4,432 3,556
Amortization of right-of-use assets 405 404
Accretion of discounts on short-term investments, net (690) (440)
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivable 519 (330)
Prepaid expenses and other current assets 1,468 1,084
Other assets (480) 12
Accounts payable and accrued liabilities 1,262 2,087
Operating lease liabilities (513) (463)
Net cash used in operating activities (31,956) (27,426)
Investing activities:    
Capital expenditures (44) (80)
Maturities of short-term investments 54,539 22,595
Purchases of short-term investments (65,138) (23,563)
Sales of short-term investments 1,236 10,265
Net cash provided by (used in) investing activities (9,407) 9,217
Financing activities:    
Proceeds from sales of common stock, net of expenses of $0 and $482, respectively   9,232
Proceeds from exercise of options 28 360
Net cash provided by financing activities 28 9,592
Net change in cash and cash equivalents (41,335) (8,617)
Cash and cash equivalents—Beginning of period 51,470 21,655
Cash and cash equivalents—End of period $ 10,135 $ 13,038