Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes - Summary of Principal Components of Company's Deferred Tax Assets (Details)

v3.26.1
Income Taxes - Summary of Principal Components of Company's Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Federal, state and local net operating loss carryforwards $ 83,014 $ 44,369
Capitalized research and development costs 31,333 36,646
Research and development tax credits 25,050 16,296
Stock-based compensation deductions 13,299 9,919
License fee deductions 186 221
Operating lease liabilities 7,357 4,607
Accrued expenses 2,805 2,603
Gross deferred tax assets 163,044 114,661
Less: valuation allowance (157,850) (110,723)
Total deferred tax assets 5,194 3,938
Deferred tax liabilities:    
Operating lease right-of-use assets (5,194) (3,938)
Net deferred tax assets $ 0 $ 0