v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (14,697) $ (16,613)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 1,362 2,168
Amortization of operating lease right-of-use assets 1,142 1,160
Depreciation 334 465
Amortization (accretion) of premiums (discounts) on securities, net (68) (541)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (355) 167
Accounts payable 200 (131)
Accrued expenses and other liabilities 128 525
Operating lease liabilities (1,146) (1,137)
Net cash used in operating activities (13,100) (13,937)
Cash flows from investing activities    
Proceeds from maturities of securities 25,805 26,630
Purchases of securities (11,062) (6,900)
Purchases of property and equipment (510) (219)
Net cash provided by investing activities 14,233 19,511
Cash flows from financing activities    
Proceeds from exercise of stock options 1,105 18
Net cash provided by financing activities 1,105 18
Net increase in cash, cash equivalents and restricted cash 2,238 5,592
Cash, cash equivalents and restricted cash at beginning of period 13,390 28,648
Cash, cash equivalents and restricted cash at end of period 15,628 34,240
Supplementary cash flow information on non-cash activities:    
Acquisitions of property and equipment included in accounts payable $ 142 $ 59