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Organization and Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited condensed consolidated statements of cash flows as of September 30, 2025 and 2024 (in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

Cash and cash equivalents

 

$

40,622

 

 

$

37,909

 

Restricted cash

 

 

10,227

 

 

 

10,227

 

Total cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statement of cash flows

 

$

50,849

 

 

$

48,136

 

Schedule of Basic and Diluted Net Loss per Share Attributable to Stockholders

Basic and diluted net loss per share attributable to stockholders for the three and nine months ended September 30, 2025 and 2024 are calculated as follows (in thousands, except share and per share data):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(32,250

)

 

$

(47,678

)

 

$

(103,941

)

 

$

(134,109

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Shares used to compute net loss per share, basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

115,105,019

 

 

 

113,875,487

 

 

 

114,742,701

 

 

 

109,486,740

 

Weighted-average pre-funded warrants

 

 

3,893,674

 

 

 

3,893,674

 

 

 

3,893,674

 

 

 

2,818,690

 

Weighted-average common shares outstanding used to
    compute basic and diluted net loss per share

 

 

118,998,693

 

 

 

117,769,161

 

 

 

118,636,375

 

 

 

112,305,430

 

Net loss per share, basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.27

)

 

$

(0.40

)

 

$

(0.88

)

 

$

(1.19

)

 

Schedule of Anti-Dilutive Securities not Included in Calculation of Net Loss per Common Share

The following weighted-average outstanding shares of potentially dilutive securities are excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive:

 

 

 

As of September 30,

 

 

 

2025

 

 

2024

 

Convertible preferred stock

 

 

13,775,430

 

 

 

13,805,540

 

Outstanding options to purchase common stock

 

 

12,597,399

 

 

 

11,238,387

 

Outstanding restricted stock units

 

 

6,647,093

 

 

 

6,207,574

 

Total

 

 

33,019,922

 

 

 

31,251,501