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Summary of Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2025

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Fair Value Hierarchy of Assets and Liabilities Measured on Recurring Basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:

​

​	​	​	​	​	​	​	​	​	​
​	​	Fair value measurement at reporting date using
(in thousands)		(Level 1)			(Level 2)			(Level 3)
March 31, 2025		​			​			​
Assets:		​			​			​
Cash equivalents – money markets accounts	​	$	6,965	​	$	—	​	$	—
December 31, 2024	​			​			​
Assets:	​			​			​
Cash equivalents – money markets accounts	​	$	14,887	​	$	—	​	$	—

​

During the three months ended March 31, 2025 and 2024, there were no transfers between Level 1, Level 2 and Level 3.

The following fair value hierarchy table presents information about the Company’s assets measured at fair value on a recurring basis:

​	​	​	​	​	​	​	​	​	​
​	​	Fair value measurement at reporting date using
(in thousands)		(Level 1)			(Level 2)			(Level 3)
December 31, 2024		​			​			​
Assets:		​			​			​
Cash equivalents – money markets accounts	​	$	14,887	​	$	—	​	$	—
December 31, 2023	​			​			​
Assets:	​			​			​
Cash equivalents – money markets accounts	​	$	62,999	​	$	—	​	$	—

Schedule of Significant Expense Categories by Segment

The table below summarizes the significant expense categories regularly reviewed by the CODM for the three months ended March 31, 2025 and 2024:

​

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2025			2024
Collaboration revenues	​	$	3,729	​	$	3,397
Less:	​			​
Research and development, excluding facilities, personnel, depreciation and amortization expenses	​		1,528	​		10,191
General and administrative, excluding facilities and personnel expenses, depreciation and amortization expenses	​		2,421	​		3,656
Facilities expense	​		1,099	​		1,632
Personnel expense	​		7,354	​		6,529
Depreciation, amortization and interest on finance and sale-leaseback lease liabilities	​		712	​		1,185
Other segment items(a)	​		(119)	​		(818)
Net loss	​	$	(9,266)	​	$	(18,978)

(a) “Other segment items” includes interest income.

The table below summarizes the significant expense categories regularly reviewed by the CODM for the years ended December 31, 2024 and 2023:

​	​	​	​	​	​	​
​	​	Years Ended
​	​	December 31,
​		2024			2023
Collaboration revenues	​	$	19,632	​	$	14,919
Less:	​			​
Research and development, excluding facilities, personnel, depreciation and amortization expenses	​		33,147	​		45,905
General and administrative, excluding facilities and personnel expenses, depreciation and amortization expenses	​		14,829	​		19,118
Facilities expense	​		5,917	​		7,671
Personnel expense	​		24,564	​		27,324
Depreciation, amortization and interest on finance and sale-leaseback lease liabilities	​		3,894	​		3,984
Other segment items(a)	​		(2,242)	​		(2,204)
Net loss	​	$	(60,477)	​	$	(86,879)

Schedule of Dilutive Securities

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:

​

​	​	​	​	​
​	​	March 31,
​	​	2025	​	2024
Stock options		6,895,824		8,210,547

​

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:

​	​	​	​	​
​	​	December 31,
​		2024		2023
Stock options		7,746,991		6,023,370

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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