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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 35,405 $ 39,818
Short-term investments 93,849 139,662
Prepaid expenses and other current assets 1,107 2,149
Total current assets 130,361 181,629
Property and equipment, net 5,189 4,471
Operating lease right-of-use assets 2,792 3,554
Long-term investments 5,108 5,089
Restricted cash 202 198
Other assets 1,647 1,647
Total assets 145,299 196,588
Current liabilities:    
Accounts payable 996 758
Accrued expenses and other current liabilities 12,711 15,399
Operating lease liabilities, current 1,184 1,057
Total current liabilities 14,891 17,214
Operating lease liabilities, non-current 1,805 2,588
Total liabilities 16,696 19,802
Commitments and contingencies (Note 12)
Stockholders’ deficit:    
Common stock, $0.001 par value; 500,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 31,549,770 and 31,231,264 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 31 31
Additional paid-in capital 384,356 373,284
Accumulated other comprehensive income 112 447
Accumulated deficit (255,896) (196,976)
Total stockholders' equity 128,603 176,786
Total liabilities and stockholders' equity $ 145,299 $ 196,588