BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 40,269	$ 12,474
Marketable securities	58,805	121,140
Prepaid expenses and other current assets	3,329	2,281
Total current assets	102,403	135,895
Restricted cash	4,044	4,044
Property and equipment, net	6,388	6,767
Operating lease right-of-use asset	28,315	28,699
Other assets	110	110
Total assets	141,260	175,515
Current liabilities:
Accounts payable	5,831	7,732
Accrued expenses and other current liabilities	11,303	15,209
Operating lease liability	2,600	2,492
Finance lease liability	53	208
Total current liabilities	19,787	25,641
Other liabilities	3,028	3,090
Operating lease liability	15,267	15,325
Total liabilities	38,082	44,056
Commitments (Note 8)
Stockholders’ equity:
Additional paid-in capital	718,809	714,982
Accumulated other comprehensive income	12	35
Accumulated deficit	(615,648)	(583,563)
Total stockholders’ equity	103,178	131,459
Total liabilities and stockholders’ equity	141,260	175,515
Voting Common Stock
Stockholders’ equity:
Common stock	4	4
Non-voting Common Stock
Stockholders’ equity:
Common stock	$ 1	$ 1

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).