v3.25.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 22,792 $ 132,325
Short-term investments 252,449 41,393
Receivable from related party 807 294
Unbilled receivable from related party 0 184
Prepaid expenses and other current assets 4,856 3,255
Total current assets 280,904 177,451
Long-term investments 81,728 0
Property and equipment, net 194 185
Right-of-use operating lease assets 1,553 615
Other assets and restricted cash 9,629 1,154
Total assets 374,008 179,405
Current liabilities:    
Accounts payable 4,579 2,610
Accrued expenses 13,074 6,504
Current portion of deferred revenue 479 0
Current Portion of Deferred Revenue Related Party 0 100
Current portion of operating lease liabilities 320 417
Total current liabilities 18,452 9,631
Deferred revenue 1,908 0
Deferred revenue - related party 0 736
Long-term operating lease liabilities 1,171 168
Total liabilities 21,531 10,535
Commitments and contingencies (Note 17)
Stockholders' equity/(deficit):    
Preferred stock; $0.001 par value per share; authorized shares - 10,000,000 at December 31, 2024 and 2023; issued and outstanding - none at December 31, 2024 and 2023 0 0
Common stock; $0.001 par value per share; authorized shares - 150,000,000 at December 31, 2024 and 2023; issued and outstanding shares - 31,115,341 and 14,817,696 at December 31, 2024 and 2023, respectively 31 15
Additional paid-in capital 526,732 258,231
Accumulated deficit (174,392) (89,423)
Accumulated other comprehensive income 106 47
Total stockholders' equity 352,477 168,870
Total liabilities and stockholders 'equity $ 374,008 $ 179,405