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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 12,388 $ 27,646
Short-term investments 91,018 102,247
Prepaid expenses and other current assets 2,557 2,933
Total current assets 105,963 132,826
Property and equipment, net 3,457 4,076
Operating lease right-of-use assets 27,773 28,256
Long-term investments 52,739 76,405
Other long-term assets 1,180 1,180
Total assets 191,112 242,743
Current liabilities:    
Accounts payable 943 987
Accrued expenses and other liabilities 3,177 2,548
Current portion of operating lease liability 3,832 4,097
Total current liabilities 7,952 7,632
Operating lease liability, net of current portion 26,187 26,381
Total liabilities 34,139 34,013
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 200,000,000 authorized as of December 31, 2025 and 2024, respectively; 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively 0 0
Common stock, $0.0001 par value, 1,000,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 126,469,610 and 126,106,176 shares issued and outstanding as of December 31, 2025 and 2024, respectively 13 13
Additional paid-in capital 488,737 481,679
Accumulated other comprehensive income 243 57
Accumulated deficit (332,020) (273,019)
Total stockholders’ equity 156,973 208,730
Total liabilities and stockholders’ equity $ 191,112 $ 242,743