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Restatement of Previously Issued Financial Statements (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Changes and Error Corrections [Abstract]

Restatement of Previously Issued Financial Statements

Consolidated Balance Sheet

			As of December 31, 2023
			As Previously Reported						Adjustment						Reference						As Restated
Assets
Current assets:
Cash and cash equivalents			$	75,000					$	—											$	75,000
Short-term investments			21,526						—												21,526
Prepaid expenses and other current assets			6,247																		6,247
Total current assets			102,773						—												102,773
Operating lease right-of-use assets			52,266						(17,242)						(a) (c)						35,024
Property and equipment, net			14,764						—												14,764
Restricted cash			1,976						—												1,976
Deposit and other long-term assets			1,231																		1,231
Total assets			$	173,010					$	(17,242)											$	155,768
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable			$	1,921					$	—											$	1,921
Accrued expenses and other current liabilities			12,584						—												12,584
Lease liability, current portion			10,409						(4,933)						(a)						5,476
Total current liabilities			24,914						(4,933)												19,981
Long-term liabilities:
Lease liability, net of current portion			64,627						3,938						(a) (c)						68,565
Total liabilities			89,541						(995)												88,546
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value, 5,000 shares authorized; no shares issued and outstanding			—						—												—
Common stock, $0.0001 par value, 300,000 shares authorized at December 31, 2023: 10,143 shares issued and outstanding at December 31, 2023			1						—												1
Additional paid-in capital			1,003,718						—												1,003,718
Accumulated other comprehensive loss			(473)						—												(473)
Accumulated deficit			(919,777)						(16,247)						(a) (b)						(936,024)
Total stockholders’ equity			83,469						(16,247)												67,222
Total liabilities and stockholders’ equity			$	173,010					$	(17,242)											$	155,768

Consolidated Statement of Operations and Comprehensive Loss

			Year ended December 31, 2023
			As Previously Reported						Adjustment						Reference						As Restated
License revenue			$	3,600					$	—											$	3,600
Operating expenses:
Research and development			77,676						(190)						(b)						77,486
General and administrative			49,915						5,141						(a)						55,056
Total operating expenses			127,591						4,951												132,542
Operating loss			(123,991)						(4,951)												(128,942)
Other income, net			5,748						—												5,748
Net loss before income taxes			(118,243)						(4,951)												(123,194)
Income tax benefit			1,078						—												1,078
Net loss			$	(117,165)					$	(4,951)											$	(122,116)
Other comprehensive gain:
Net unrealized gain on marketable securities			1,057						—												1,057
Foreign currency translation adjustment			1						—												1
Comprehensive loss			$	(116,107)					$	(4,951)											$	(121,058)
Net loss per share - basic and diluted			$	(11.62)					$	—											$	(12.11)
Weighted-average common shares outstanding - basic and diluted			10,082						—												10,082

Consolidated Statement of Cash Flows

			Year ended December 31, 2023
			As Previously Reported						Adjustment						Reference						As Restated
Cash flows from operating activities:
Net loss			$	(117,165)					$	(4,951)					(a) (b)						$	(122,116)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash lease expense			13,027						5,230						(a)						18,257
Non-cash sublease income			—						(89)												(89)
Changes in operating assets and liabilities:
Accrued expenses and other liabilities			(5,206)						(190)						(b)						(5,396)
Supplemental schedule of noncash information
Remeasurement of operating lease right-of-use assets and liabilities			$	13,711					$	(6,079)					(a) (c)						$	7,632

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- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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