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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (59,001) $ (70,780)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 6,844 12,701
Amortization of operating lease right-of-use assets 4,712 4,378
Depreciation 1,753 2,059
In-process research and development 0 760
Amortization (accretion) of premiums (discounts) on securities, net (1,420) (2,804)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 544 666
Accounts payable (69) (578)
Accrued expenses and other liabilities 629 (1,397)
Operating lease liabilities (4,688) (4,150)
Net cash used in operating activities (50,696) (59,145)
Cash flows from investing activities    
Proceeds from maturities of securities 108,991 155,410
Purchases of securities (72,490) (86,278)
Purchases of property and equipment (1,277) (2,122)
Cash paid in connection with asset acquisition 0 (760)
Net cash provided by investing activities 35,224 66,250
Cash flows from financing activities    
Proceeds from exercise of stock options 58 620
Proceeds from issuance of common stock under employee stock purchase plan 156 524
Net cash provided by financing activities 214 1,144
Net increase (decrease) in cash, cash equivalents and restricted cash (15,258) 8,249
Cash, cash equivalents and restricted cash at beginning of period 28,648 20,399
Cash, cash equivalents and restricted cash at end of period 13,390 28,648
Supplementary cash flow information on non-cash activities:    
Acquisitions of property and equipment included in accounts payable 99 74
Remeasurement of lease liabilities and right-of-use assets $ 4,228 $ 0