v3.25.4
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (55,844) $ (55,654)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,185 2,865
Amortization of premiums and discounts on marketable securities (481) (1,230)
Stock-based compensation 2,986 6,335
Asset impairment   1,786
Noncash operating lease expense 587 561
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,102 2,761
Accounts payable (3,342) 3,023
Accrued liabilities and other liabilities 4,334 (332)
Lease liabilities (1,005) (796)
Other long-term liabilities (135) (124)
Net cash used in operating activities (49,613) (40,805)
Cash flows from investing activities:    
Sales and maturities of marketable securities 52,261 104,228
Purchases of marketable securities (26,705) (48,448)
Purchases of property and equipment   (474)
Net cash provided by investing activities 25,556 55,306
Cash flows from financing activities:    
Proceeds from exercise of stock options   23
Proceeds from shares issued under ESPP 36 82
Net cash provided by financing activities 22,312 144
Net increase (decrease) in cash and cash equivalents (1,745) 14,645
Cash and cash equivalents - beginning of period 27,727 13,082
Cash and cash equivalents - end of period 25,982 27,727
Supplemental disclosures of cash flow information:    
Cash paid for interest 62 72
Private Placement    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 22,276  
At-the-market sales    
Cash flows from financing activities:    
Proceeds from issuance of common stock   $ 39