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Common Stock - Schedule of Common Stock Reserved for Future Issuance (Details) - shares	Mar. 31, 2026	Dec. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total common stock reserved for future issuance (in shares)	31,283,168	26,303,324
Stock options, issued and outstanding
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total common stock reserved for future issuance (in shares)	15,895,762	12,511,072
Shares of common stock, authorized for future issuances
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total common stock reserved for future issuance (in shares)	9,338,658	9,192,963
Shares committed under ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total common stock reserved for future issuance (in shares)	3,029,080	2,426,055
Unvested RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total common stock reserved for future issuance (in shares)	3,019,668	2,173,234

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024		92,378,577
Beginning balance at Dec. 31, 2024	$ 252,951	$ 9	$ 701,077	$ 255	$ (448,390)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of common stock under ESPP (in shares)		408,282
Issuances of common stock under ESPP	468		468
Issuances of common stock upon vesting of RSUs (in shares)		217,743
Stock-based compensation expense	3,882		3,882
Net loss	(39,991)				(39,991)
Other comprehensive loss	(88)			(88)
Ending balance (in shares) at Mar. 31, 2025		93,004,602
Ending balance at Mar. 31, 2025	217,222	$ 9	705,427	167	(488,381)
Beginning balance (in shares) at Dec. 31, 2025		95,143,690
Beginning balance at Dec. 31, 2025	122,175	$ 9	718,578	103	(596,515)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of common stock under ESPP (in shares)		348,411
Issuances of common stock under ESPP	$ 468		468
Issuances of common stock on exercises of options (in shares)	6,200	6,200
Stock Issued During Period, Value, Stock Options Exercised	$ 9		9
Issuances of common stock in connection with ATM offering, net of offering expenses (in shares)		1,078,768
Stock Issued During Period, Value, New Issues	2,220	$ 1	2,219
Issuances of common stock upon vesting of RSUs (in shares)		374,165
Stock-based compensation expense	2,357		2,357
Net loss	(25,085)				(25,085)
Other comprehensive loss	(126)			(126)
Ending balance (in shares) at Mar. 31, 2026		96,951,234
Ending balance at Mar. 31, 2026	$ 102,018	$ 10	$ 723,631	$ (23)	$ (621,600)

Balance Sheet Items - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Depreciation and amortization expense related to property and equipment	$ 0.6	$ 1.2

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Sep. 30, 2025	Jul. 21, 2025	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			31,283,168		26,303,324
Stock options granted during period (in shares)			3,472,927
Weighted-average period (in years)			2 years 9 months 18 days
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period (in years)			2 years 10 months 24 days
Unrecognized stock-based compensation expense, excluding options			$ 6.1
Restricted Stock Units RSU and Performance-Based RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			1,220,599
Shares committed under ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			3,029,080		2,426,055
Accrued liabilities			$ 0.1
Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			9,338,658		9,192,963
Unrecognized stock based-compensation expenses			$ 13.4
Employee \| Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)		$ 1.00
Unrecognized stock based-compensation expenses			$ 1.1
Granted (in shares)		1,092,165
Employee \| Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted during period (in shares)			3,472,927	3,335,888
Weighted average grant date fair value (in dollars per share)			$ 1.36	$ 1.07
2021 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			9,338,658
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock in connection with our ATM offering, net of offering expenses (in shares)	1,454,552

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2026
Related Party Transactions [Abstract]
Related Party Transactions	. Related Party Transactions Since December 31, 2025, there have been no new related party transactions. See Note 7 to the consolidated financial statements included in our Form 10-K for additional information about our related parties. Pfizer Investment During the three months ended March 31, 2025, we recognized $0.6 million of revenue from our Information Rights Agreement with Pfizer, dated June 29, 2023, pursuant to which we had originally allocated $7.5 million as a contract with a customer under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). Pfizer ceased to be a related party as of December 31, 2025.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income Per Share

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026		2025
Numerator:
Net loss	$	(25,085)	$	(39,991)
Denominator:
Weighted-average common shares outstanding used to compute net loss per share, basic and diluted	95,861,716		92,679,493
Net loss per share, basic and diluted	$	(0.26)	$	(0.43)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	As of March 31, 2026	As of March 31, 2025
Stock options outstanding	15,895,762	14,022,265
RSUs issued and outstanding	3,019,668	2,217,789
Shares committed under ESPP	324,132	509,727
	19,239,562	16,749,781

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation Of Revenue [Line Items]
Revenue	$ 2,397	$ 2,353
United States
Disaggregation Of Revenue [Line Items]
Revenue	2,257	2,224
Rest of world
Disaggregation Of Revenue [Line Items]
Revenue	$ 140	$ 129

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

Condensed Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement [Line Items]
Licensing and other third-party revenue	$ 2,397	$ 2,353
Related Party
Statement [Line Items]
Licensing and other third-party revenue	$ 0	$ 622

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity, including performance-based stock options (“PBSOs”), under our equity incentive plans for the three months ended March 31, 2026:


	Stock Options and PBSOs	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)(1)

Outstanding as of December 31, 2025	12,511,072	$	5.49	7.6	$	466
Options granted	3,472,927	1.80
Options exercised	(6,200)	1.41
Options cancelled or forfeited	(82,037)	5.39
Outstanding as of March 31, 2026	15,895,762	$	4.68	7.9	$	1,703
Exercisable as of March 31, 2026	7,606,050	$	6.98	6.6	$	475
Vested and expected to vest as of March 31, 2026	15,895,762	$	4.68	7.9	$	1,703

(1)The aggregate intrinsic value is calculated as the difference between the stock option exercise price and the estimated fair value of the underlying common stock as of the end of each reporting period referenced above.

Schedule of Estimated Fair Value of Stock Options on the Grant Date Using Black-Scholes Option-Pricing Model

We estimated the fair value of each employee stock option award on the grant date using the Black-Scholes option-pricing model based on the following assumptions:

Three Months Ended March 31,

2026

2025

Volatility

89.9% to 90.6%

86.1% to 89.7%

Expected term (in years)

5.0 to 6.0

Risk-free interest rate

3.7% to 3.8%

4.3% to 4.6%

Expected dividend yield

0.0%

Schedule of Restricted Stock Units Activity (RSUs)

A summary of the status of and change in unvested RSUs as of March 31, 2026, was as follows:


	Number of Shares Underlying Outstanding RSUs	Weighted-Average Grant Date Fair Value per RSU
Unvested, December 31, 2025	2,173,234	$	2.74
Granted	1,220,599	1.80
Vested	(374,165)	3.45
Forfeited	—	—
Unvested, March 31, 2026	3,019,668	$	2.27

Schedule of Stock-Based Compensation Expenses Recorded in the Condensed Consolidated Statements of Operations and Comprehensive Loss

We recorded stock-based compensation expense related to employee equity-based awards grants as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Research and development	$	1,125	$	1,743
General and administrative	1,232		2,139
Total	$	2,357	$	3,882

Schedule of Stock-Based Compensation Expense Related to Equity-Based Awards

The above stock-based compensation expense related to the following equity-based awards (in thousands):


	Three Months Ended March 31,
	2026		2025
Stock options	$	1,666	$	3,175
RSUs	574		585
ESPP	117		122
Total	$	2,357	$	3,882

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Mar. 31, 2026 USD ($) segment	Mar. 31, 2025 USD ($)
Segment Reporting [Abstract]
Number of reportable segment \| segment	1
Number of operating segment \| segment	1
Segment Reporting [Line Items]
Licensing and other third-party revenue	$ 2,397	$ 2,353
Other income, net	(1,195)	(2,922)
Net loss	(25,085)	(39,991)
Research and development internal costs excluding stock based compensation expense	1,100	1,700
Research and development internal costs excluding depreciation and amortization expenses	600	1,100
General and administrative expense excluding stock based compensation	1,200	2,100
General and administrative expense excluding depreciation and amortization	100	(100)
Reportable Segment
Segment Reporting [Line Items]
Licensing and other third-party revenue	2,397	2,353
External costs	10,690	21,859
Internal costs	8,179	10,877
Total research and development	18,869	32,736
General and administrative	6,802	7,484
Other segment items	3,006	4,712
Other income, net	(1,195)	(2,588)
Net loss	$ (25,085)	$ (39,991)

Net Loss Per Share - Computation of the Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	19,239,562	16,749,781
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	15,895,762	14,022,265
RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,019,668	2,217,789
Shares committed under ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	324,132	509,727

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include our accounts and the accounts of our wholly owned subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. Certain prior period amounts in our consolidated financial statements have been reclassified to conform to current period presentation.

Use of Estimates

The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities; the disclosure of contingent assets and liabilities at the date of our unaudited condensed consolidated financial statements; and the reported amounts of revenue, income, and expenses for the applicable reporting period. Significant estimates and assumptions made in the accompanying unaudited condensed consolidated financial statements include, but are not limited to, estimates related to revenue recognition, stock-based compensation expense, and accrued research and development expenses. Our management evaluates its estimates and assumptions on an ongoing basis using historical experience and various other assumptions that they believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates.

Concentrations of Credit Risk and Other Uncertainties

Financial instruments that potentially subject us to concentration of credit risk consist of cash and cash equivalents, accounts receivable, contract assets, other receivables, and investments in marketable securities and equity securities. Substantially all our cash and cash equivalents are deposited in accounts at four financial institutions, and our account balances exceed federally insured limits. We mitigate the risks by investing only in high-grade instruments, limiting our exposure to any single issuer, and monitoring the ongoing creditworthiness of these financial institutions and issuers.

Third parties that represent 10% or more of our revenue and accounts receivable and contract assets were as follows:


	Revenue				Accounts Receivable and Contract Assets
	Three Months Ended				As of March 31, 2026	As of December 31, 2025
	March 31, 2026		March 31, 2025
Party A	25.9	%	26.4	%		*		*
Party B	25.7	%	26.2	%		*		*
Party C	20.6	%	16.8	%		60.4	%	54.5	%
Party D	*		*			*		11.8	%
Party E	*		*			11.1	%	*
Total	72.2	%	69.4	%		71.5	%	66.3	%

*Less than 10%

We monitor economic conditions to identify facts or circumstances that may indicate if any of our accounts receivable are not collectible or if contract assets should be impaired.

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in ASU 2024-03 require a public business entity to disclose specific information about certain costs and expenses in the notes to its financial statements for interim and annual reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity's expenses to help investors (i) better understand the entity's performance, (ii) better assess the entity's prospects for future cash flows, and (iii) compare an entity's performance over time and with that of other entities. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of the adoption of ASU 2024-03.

In September 2025, the FASB issued ASU No. 2025-06 - Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The amendments in ASU 2025-06 remove all references to prescriptive and sequential software development stages. This ASU requires entities to begin capitalizing software costs when management authorizes and commits to funding the software project, and it is probable that the project will be completed and the software will be used for its intended purpose. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of the adoption of ASU 2025-06.

In December 2025, the FASB issued ASU 2025-11 - Interim Reporting (Topic 270): Narrow-Scope Improvements. The amendments in ASU 2025-11 provide clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures and a new disclosure principle for reporting material events occurring after the most recent annual financial reporting period. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact of the adoption of ASU 2025-11.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

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+ Details

Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Reporting

The following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable segment for the periods indicated:


	Three Months Ended March 31,
	2026		2025
Licensing and other third-party revenue	$	2,397	$	2,353
Less:
Research and development:
External costs	10,690		21,859
Internal costs(1)	8,179		10,877
Total research and development	18,869		32,736
General and administrative(2)	6,802		7,484
Other segment items(3)	3,006		4,712
Other income, net	(1,195)		(2,588)
Segment and consolidated net loss	$	(25,085)	$	(39,991)

(1)Research and development internal costs for the three months ended March 31, 2026, and March 31, 2025, exclude $1.1 million and $1.7 million of stock-based compensation expense, respectively, and $0.6 million and $1.1 million of depreciation and amortization expense, respectively.

(2)General and administrative expense for the three months ended March 31, 2026, and March 31, 2025, exclude $1.2 million and $2.1 million of stock-based compensation expense, respectively, and less than $0.1 million and $0.1 million of depreciation and amortization expense, respectively.

(3)Other segment items for the three-month periods ended March 31, 2026, and March 31, 2025, include stock-based compensation and depreciation and amortization.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Net Loss Per Share - Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net loss	$ (25,085)	$ (39,991)
Denominator:
Weighted-average common shares outstanding used to compute net loss per share, basic (in shares)	95,861,716	92,679,493
Weighted-average common shares outstanding used to compute net loss per share, diluted (in shares)	95,861,716	92,679,493
Net loss per share, basic (in dollars per share)	$ (0.26)	$ (0.43)
Net loss per share, diluted (in dollars per share)	$ (0.26)	$ (0.43)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Equity Incentive Plans

In July 2021, our board of directors adopted, and our stockholders approved, the 2021 Equity Incentive Plan (“2021 Plan”) that became effective on July 22, 2021. As of March 31, 2026, we had 9,338,658 shares available for issuance under the 2021 Plan.

Stock Options

The following table summarizes stock option activity, including performance-based stock options (“PBSOs”), under our equity incentive plans for the three months ended March 31, 2026:


	Stock Options and PBSOs	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)(1)

Outstanding as of December 31, 2025	12,511,072	$	5.49	7.6	$	466
Options granted	3,472,927	1.80
Options exercised	(6,200)	1.41
Options cancelled or forfeited	(82,037)	5.39
Outstanding as of March 31, 2026	15,895,762	$	4.68	7.9	$	1,703
Exercisable as of March 31, 2026	7,606,050	$	6.98	6.6	$	475
Vested and expected to vest as of March 31, 2026	15,895,762	$	4.68	7.9	$	1,703

Grant Date Fair Value of Stock Options

During the three months ended March 31, 2026, and March 31, 2025, we granted 3,472,927 and 3,335,888 stock options, respectively, under the 2021 Plan to employees with a weighted average grant date fair value of $1.36 and $1.07, respectively.

We estimated the fair value of each employee stock option award on the grant date using the Black-Scholes option-pricing model based on the following assumptions:

Three Months Ended March 31,

2026

2025

Volatility

89.9% to 90.6%

86.1% to 89.7%

Expected term (in years)

5.0 to 6.0

Risk-free interest rate

3.7% to 3.8%

4.3% to 4.6%

Expected dividend yield

0.0%

As of March 31, 2026, there was $13.4 million of unrecognized stock-based compensation expense related to employee stock options that is expected to be recognized over a weighted-average period of 2.8 years.

Grant Date Fair Value of PBSOs

On July 21, 2025, we granted 1,092,165 PBSOs under the 2021 Plan to each of our officers with a weighted average grant date fair value of $1.00. We estimated the fair value of each PBSO on the grant date using the Black-Scholes option-pricing model based on a volatility of 88.7%, expected term of 1.9 years, risk-free interest rate of 3.9%, and expected dividend yield of 0.0%. Vesting of the PBSOs is conditioned on achievement of certain clinical development milestones during a two-year performance period ending June 30, 2027, and contingent on each executive officer’s continued employment on the vesting dates. As of March 31, 2026, there were 1,092,165 PBSOs outstanding with a weighted average grant date fair value of $1.00. As of March 31, 2026, we have concluded that it is not yet deemed probable, as required by ASC Topic 718 Compensation - Stock Compensation, that the clinical milestones will be achieved, and as such, no stock-based compensation expense has been recorded for PBSOs. As of March 31, 2026, there was $1.1 million of unrecognized stock-based compensation expense related to PBSOs, which will be recognized if the awards are deemed to be probable of vesting.

Restricted Stock Units (“RSUs”)

During the three months ended March 31, 2026, we granted 1,220,599 RSUs under the 2021 Plan to employees. A summary of the status of and change in unvested RSUs as of March 31, 2026, was as follows:


	Number of Shares Underlying Outstanding RSUs	Weighted-Average Grant Date Fair Value per RSU
Unvested, December 31, 2025	2,173,234	$	2.74
Granted	1,220,599	1.80
Vested	(374,165)	3.45
Forfeited	—	—
Unvested, March 31, 2026	3,019,668	$	2.27

As of March 31, 2026, the total unrecognized stock-based compensation expense related to unvested RSUs was $6.1 million, which is expected to be recognized over the remaining weighted-average vesting period of 2.9 years.

Employee Stock Purchase Plan (“ESPP”)

In July 2021, our board of directors adopted, and our stockholders approved, the ESPP, which became effective on July 22, 2021. We issued 1,454,552 shares of common stock under the ESPP as of March 31, 2026. We recorded $0.1 million in accrued liabilities related to contributions withheld as of March 31, 2026.

Stock-Based Compensation Expense

We recorded stock-based compensation expense related to employee equity-based awards grants as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Research and development	$	1,125	$	1,743
General and administrative	1,232		2,139
Total	$	2,357	$	3,882

The above stock-based compensation expense related to the following equity-based awards (in thousands):


	Three Months Ended March 31,
	2026		2025
Stock options	$	1,666	$	3,175
RSUs	574		585
ESPP	117		122
Total	$	2,357	$	3,882

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Statement [Line Items]
Deferred revenue, current	$ 994	$ 1,895
Deferred revenue, noncurrent	$ 1,648	$ 1,752
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	96,951,234	95,143,690
Common stock, shares outstanding (in shares)	96,951,234	95,143,690
Liabilities	$ 46,980	$ 53,192

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

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+ Details

- Definition

Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2024	Dec. 31, 2025
Stock Options and PBSOs
Outstanding, Beginning Balance (in shares)	12,511,072
Granted (in shares)	3,472,927
Exercised (in shares)	(6,200)
Cancelled or forfeited (in shares)	(82,037)
Outstanding, Ending Balance (in shares)	15,895,762
Exercisable (in shares)	7,606,050
Vested and expected to vest (in shares)	15,895,762
Weighted- Average Exercise Price
Outstanding, Beginning Balance (in dollars per share)	$ 5.49
Granted (in dollars per share)	1.80
Exercised (in dollars per share)	1.41
Cancelled or forfeited (in dollars per share)	5.39
Outstanding, Ending Balance (in dollars per share)	4.68
Exercisable (in dollars per share)	6.98
Vested and expected to vest (in dollars per share)	$ 4.68
Weighted- Average Remaining Contractual Term (years)
Outstanding (in years)	7 years 10 months 24 days	7 years 7 months 6 days
Exercisable (in years)	6 years 7 months 6 days
Vested and expected to vest (in years)	7 years 10 months 24 days
Aggregate Intrinsic Value (in thousands)
Outstanding	$ 1,703		$ 466
Exercisable	475
Vested and expected to vest	$ 1,703

Fair Value Measurements and Fair Value of Financial Instruments - Schedule of Financial Instruments Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Assets fair value	$ 118,627	$ 142,845
Commercial paper
Assets:
Cash Equivalents, at Carrying Value		999
U.S. Treasury bills
Assets:
Assets fair value	63,405	86,964
US Government agency bonds
Assets:
Assets fair value	28,498	28,717
Money market funds
Assets:
Assets fair value	12,057	11,361
Corporate debt securities
Assets:
Assets fair value	7,685	8,663
Commercial paper
Assets:
Assets fair value	6,982	7,140
Level 1
Assets:
Assets fair value	75,462	98,325
Level 1 \| U.S. Treasury bills
Assets:
Assets fair value	63,405	86,964
Level 1 \| US Government agency bonds
Assets:
Assets fair value	0	0
Level 1 \| Money market funds
Assets:
Assets fair value	12,057	11,361
Level 1 \| Corporate debt securities
Assets:
Assets fair value	0	0
Level 1 \| Commercial paper
Assets:
Assets fair value	0	0
Level 2
Assets:
Assets fair value	43,165	44,520
Level 2 \| U.S. Treasury bills
Assets:
Assets fair value	0	0
Level 2 \| US Government agency bonds
Assets:
Assets fair value	28,498	28,717
Level 2 \| Money market funds
Assets:
Assets fair value	0	0
Level 2 \| Corporate debt securities
Assets:
Assets fair value	7,685	8,663
Level 2 \| Commercial paper
Assets:
Assets fair value	6,982	7,140
Level 3
Assets:
Assets fair value	0	0
Level 3 \| U.S. Treasury bills
Assets:
Assets fair value	0	0
Level 3 \| US Government agency bonds
Assets:
Assets fair value	0	0
Level 3 \| Money market funds
Assets:
Assets fair value	0	0
Level 3 \| Corporate debt securities
Assets:
Assets fair value	0	0
Level 3 \| Commercial paper
Assets:
Assets fair value	$ 0	$ 0

Significant Agreements (Details) - USD ($) $ in Thousands	3 Months Ended
Significant Agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Research and development	$ 20,611	$ 35,531
General and administrative	8,066	9,735
Future payments for milestones	48,900
Intellia Therapeutics, Inc.
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Research and development	300	300
General and administrative	100	200
Intellia Therapeutics, Inc. \| Patents
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Reduction in general and administrative expenses	$ 300	$ 300

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 0	$ 0

Balance Sheet Items

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Items

Property and equipment, net, consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Lab equipment	$	15,649	$	15,636
Leasehold improvements	3,057		3,057
Computer equipment	897		897
Furniture and equipment	697		697
Total property and equipment, gross	20,300		20,287
Less: accumulated depreciation and amortization	(14,177)		(13,527)
Property and equipment, net	$	6,123	$	6,760

Depreciation and amortization expenses related to property and equipment were $0.6 million and $1.2 million for the three months ended March 31, 2026, and March 31, 2025, respectively.

Accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Accrued research and development expenses	$	7,614	$	6,109
Accrued employee compensation and related expenses	3,712		7,745
Accrued expenses related to sublicensing revenues	983		992
Accrued patent expenses	848		873
Other	732		816
Total	$	13,889	$	16,535

Fair Value Measurements and Fair Value of Financial Instruments - Schedule of Fair Value and Amortized Cost of Cash Equivalents and Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Debt Securities, Available-for-Sale [Line Items]
Cash, cash equivalents, and available-for-sale, amortized cost	$ 118,651	$ 142,742
Cash and cash equivalents, amortized cost basis	12,057	12,360	$ 29,417
Unrealized Gains	19	107
Unrealized Losses	(43)	(4)
Available-for-sale marketable securities and cash and cash equivalents, Estimated Fair Value	118,627	142,845
Marketable securities, short-term	105,569	126,980
Marketable securities, long-term	1,001	3,505
Fair Value, Recurring
Debt Securities, Available-for-Sale [Line Items]
Assets fair value	(118,627)	(142,845)
Money market funds
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalents, amortized cost basis	12,057	11,361
Unrealized Gains	0	0
Unrealized Losses	0	0
Cash and cash equivalents, estimated fair value	12,057	11,361
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalents, amortized cost basis	6,983
Unrealized Gains	0
Unrealized Losses	(1)
Cash and cash equivalents, estimated fair value	6,982
Commercial paper \| Fair Value, Recurring
Debt Securities, Available-for-Sale [Line Items]
Cash Equivalents, at Carrying Value		999
U.S. Treasury bills
Debt Securities, Available-for-Sale [Line Items]
Cash, cash equivalents, and available-for-sale, amortized cost	63,404	86,872
Unrealized Gains	18	92
Unrealized Losses	(17)	0
Available-for-sale marketable securities and cash and cash equivalents, Estimated Fair Value	63,405	86,964
US Government agency bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost Basis	28,512	28,707
Unrealized Gains	1	12
Unrealized Losses	(15)	(2)
Available for sale, estimated fair value	28,498	28,717
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Cash, cash equivalents, and available-for-sale, amortized cost		7,139
Unrealized Gains		1
Unrealized Losses		0
Available-for-sale marketable securities and cash and cash equivalents, Estimated Fair Value		7,140
Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost Basis	7,695	8,663
Unrealized Gains	0	2
Unrealized Losses	(10)	(2)
Available for sale, estimated fair value	$ 7,685	$ 8,663

Summary of Significant Accounting Policies - Schedule of Concentration of Credit Risk and other Uncertainties (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Revenue \| Major Customers
Concentration Risk [Line Items]
Total	72.20%	69.40%
Revenue \| Party A
Concentration Risk [Line Items]
Total	20.60%	16.80%
Revenue \| Party B
Concentration Risk [Line Items]
Total	25.90%	26.40%
Revenue \| Party C
Concentration Risk [Line Items]
Total	25.70%	26.20%
Accounts Receivable and Contract Assets \| Major Customers
Concentration Risk [Line Items]
Total	71.50%		66.30%
Accounts Receivable and Contract Assets \| Party A
Concentration Risk [Line Items]
Total	60.40%		54.50%
Accounts Receivable and Contract Assets \| Party D
Concentration Risk [Line Items]
Total			11.80%
Accounts Receivable and Contract Assets \| Party E [Member]
Concentration Risk [Line Items]
Total	11.10%

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue ($ from related party for the three months ended xxx, respectively)	$ 2,397	$ 2,353
Operating expenses:
Research and development	20,611	35,531
General and administrative	8,066	9,735
Total operating expenses	28,677	45,266
Loss from operations	(26,280)	(42,913)
Other income
Other income, net	1,195	2,922
Total other income	1,195	2,922
Net loss	(25,085)	(39,991)
Other comprehensive loss
Net unrealized loss on available-for-sale marketable securities, net of tax	(126)	(88)
Net comprehensive loss	$ (25,211)	$ (40,079)
Net loss per share, basic (in dollars per share)	$ (0.26)	$ (0.43)
Net loss per share, diluted (in dollars per share)	$ (0.26)	$ (0.43)
Weighted-average common shares outstanding, basic (in shares)	95,861,716	92,679,493
Weighted-average common shares outstanding, diluted (in shares)	95,861,716	92,679,493

Revenue - Remaining Performance Obligations (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Disaggregation Of Revenue [Line Items]
Remaining performance obligations	$ 2.6	$ 3.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Disaggregation Of Revenue [Line Items]
Remaining performance obligations	$ 1.0
Remaining performance obligation, expected timing of satisfaction, period	12 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock-Based Compensation - Schedule of Stock Option Expenses Related to Employee and Non-Employee Stock Options Granted (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 2,357	$ 3,882
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	1,232	2,139
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 1,125	$ 1,743

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 12,057	$ 12,360
Marketable securities, short-term	105,569	126,980
Accounts receivable	227	69
Contract assets	691	1,006
Other receivables	1,445	1,904
Prepaid expenses and other current assets	2,392	2,913
Total current assets	122,381	145,232
NON-CURRENT ASSETS
Marketable securities, long-term	1,001	3,505
Property and equipment, net	6,123	6,760
Operating lease, right of use assets	17,356	17,670
Other assets	2,137	2,200
TOTAL ASSETS	148,998	175,367
CURRENT LIABILITIES
Accounts payable	3,503	5,783
Accrued expenses and other current liabilities	13,889	16,535
Operating lease liabilities, current	1,287	1,201
Deferred revenue	994	1,895
Total current liabilities	19,673	25,414
LONG-TERM LIABILITIES
Deferred revenue, net of current portion	1,648	1,752
Operating lease liabilities, non-current	25,659	26,026
Total liabilities	46,980	53,192
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ EQUITY
Common stock, par value $0.0001 per share, 300,000,000 shares authorized as of March 31, 2026, and December 31, 2025; 96,951,234 and 95,143,690 shares issued and outstanding as of March 31, 2026, and December 31, 2025, respectively	10	9
Additional paid-in-capital	723,631	718,578
Accumulated other comprehensive (loss) income	(23)	103
Accumulated deficit	(621,600)	(596,515)
Total stockholders’ equity	102,018	122,175
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 148,998	$ 175,367

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes No income tax expense was recorded during each of the three-month periods ended March 31, 2026, and March 31, 2025 due to our operating losses.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Significant Agreements	3 Months Ended
Significant Agreements	Mar. 31, 2026
Significant Agreements [Abstract]
Significant Agreements	Significant Agreements Since December 31, 2025, there have been no material changes to the key terms of our ongoing significant agreements. See Note 4 to the consolidated financial statements included in our Form 10-K for additional information about our ongoing significant agreements. Our ongoing significant agreements may include nonrefundable, upfront payments; annual license maintenance fees; sublicensing fees; obligations to reimburse for patent prosecution and maintenance fees; success payments; regulatory clinical and commercial milestones; and royalty payments. Our obligation to make such payments is contingent on milestones being achieved, licensed products being commercialized, and the agreements remaining in effect. For each of the three-month periods ended March 31, 2026, and March 31, 2025, we recorded $0.3 million as research and development expenses related to our license agreements. Patent prosecution and maintenance costs included in general and administrative expenses were $0.1 million and $0.2 million for the three months ended March 31, 2026, and March 31, 2025, respectively. These amounts include reimbursements of approximately $0.3 million and $0.2 million for the three months ended March 31, 2026, and March 31, 2025, respectively. As of March 31, 2026, certain license and assignment agreements included potential future payments from us for development, regulatory, and sales milestones totaling approximately $48.9 million.

Common Stock

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Common Stock

Shares of our common stock reserved for future issuances consisted of the following:


	As of March 31, 2026	As of December 31, 2025
Stock options, issued and outstanding	15,895,762	12,511,072
Shares of common stock, authorized for future issuances	9,338,658	9,192,963
Shares committed under ESPP	3,029,080	2,426,055
Unvested RSUs	3,019,668	2,173,234
Total shares of common stock reserved for future issuances	31,283,168	26,303,324

Shelf Registration Statement

On May 8, 2025, we filed a shelf registration statement on Form S-3 (“2025 Shelf Registration Statement”), which was declared effective by the SEC on May 14, 2025. Pursuant to the 2025 Shelf Registration Statement, we may, from time to time, sell up to $300.0 million of common stock, preferred stock, debt securities, warrants, rights, or units comprised of any combination thereof (including the $100.0 million of common stock reserved under the 2025 Shelf Registration Statement for our at-the-market equity offering program described below). As of March 31, 2026, we had $293.4 million available for sale under the 2025 Shelf Registration Statement.

At-the-Market Equity Offering Program

On August 9, 2022, we entered into an at-the-market Open Market Sale AgreementSM (“ATM Sales Agreement”) with Jefferies LLC (“Jefferies”) in connection with a prior shelf registration statement. With the effectiveness of the 2025 Shelf Registration Statement, we refreshed our at-the-market equity offering program under the ATM Sales Agreement. We may, from time to time, sell and issue shares of our common stock, through Jefferies as sales agent under the ATM Sales Agreement, having an aggregate offering price of up to $100.0 million in gross proceeds under the 2025 Shelf Registration Statement.

During the three months ended March 31, 2026, we sold 1,078,768 shares of our common stock at an average price of $2.11 per share, in accordance with the ATM Sales Agreement and the 2025 Shelf Registration Statement, for aggregate gross proceeds of $2.3 million ($2.2 million net of offering expenses).

We did not sell any shares of our common stock under the ATM Sales Agreement during the three months ended March 31, 2025.

As of March 31, 2026, $93.4 million of shares of our common stock remained available for sale under the 2025 Shelf Registration Statement pursuant to the ATM Sales Agreement.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Tim Kelly [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 25, 2026, Tim Kelly, M.B.A., our chief technology officer, entered into a “Rule 10b5-1 trading arrangement” (as that term is defined in Regulation S-K, Item 408) that is intended to qualify as an “eligible sell-to-cover transaction” (as described in Rule 10b5-1(c)(1)(ii)(D)(3) under the Securities Exchange Act of 1934, as amended (“Exchange Act”)) and is intended to satisfy the affirmative defense in Rule 10b5-1(c) under the Exchange Act. This sell-to-cover arrangement applies to restricted stock units or performance-based stock units (collectively, “RSUs”), whether vesting is based on the passage of time and/or the achievement of performance goals, that were previously granted or that could in the future be granted by us from time to time (this type of arrangement, with the attributes described in this paragraph, is referred to as an “RSU Sell-to-Cover Instruction”). An RSU Sell-to-Cover Instruction provides for the automatic sale of shares of common stock that would otherwise be issuable on each settlement date of a covered RSU in an amount necessary to satisfy the applicable tax withholding obligations, with the proceeds of the sale delivered to us in satisfaction of the applicable tax withholding obligations. The number of shares of common stock that will be sold under an RSU Sell-to-Cover Instruction is not currently determinable as the number will vary based on the extent to which vesting conditions are satisfied, the market price of our common stock at the time of settlement, and the potential future grant of RSUs subject to a RSU Sell-to-Cover Instruction. An RSU Sell-to-Cover Instruction will remain in place indefinitely unless revoked in writing (including as to any particular sell-to-cover sale, as to which the officer may elect to pay the applicable withholding taxes in cash) in accordance with its terms.
Name	Tim Kelly
Title	chief technology officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 25, 2026

Stock-Based Compensation - Schedule of Estimated Fair Value of Stock Options on the Grant Date Using Black-Scholes Option-Pricing Model (Details) - shares		3 Months Ended
	Jul. 21, 2025	Mar. 31, 2026	Mar. 31, 2025
Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility		89.90%	86.10%
Volatility		90.60%	89.70%
Risk-free interest rate		3.70%	4.30%
Risk-free interest rate		3.80%	4.60%
Expected dividend yield		0.00%	0.00%
Employee \| Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility	88.70%
Risk-free interest rate	3.90%
Expected dividend yield	0.00%
Granted (in shares)	1,092,165
Minimum \| Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		5 years	5 years
Minimum \| Employee \| Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	1 year 10 months 24 days
Maximum \| Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		6 years	6 years

Fair Value Measurements and Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements and Fair Value of Financial Instruments

We classify fair value-based measurements using a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1, quoted market prices (unadjusted) in active markets for identical assets or liabilities; Level 2, observable inputs other than quoted market prices included in Level 1, such as quoted market prices for markets that are not active or other inputs that are observable or can be corroborated by observable market data; and Level 3, unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. Changes in the ability to observe valuation inputs may result in a reclassification of levels of certain securities within the fair value hierarchy. We recognize transfers into and out of levels within the fair value hierarchy in the period in which the actual event or change in circumstances that caused the transfer occurs. No such transfers occurred during the three months ended March 31, 2026, and March 31, 2025.

Recurring Measurements

The following table sets forth our financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


	Fair Value Measurements as of March 31, 2026
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury bills	$	63,405	$	63,405	$	—	$	—
U.S. government agency bonds	28,498		—		28,498		—
Money market fund investments (included in cash and cash equivalents)	12,057		12,057		—		—
Corporate debt securities	7,685		—		7,685		—
Commercial paper	6,982		—		6,982		—
Total fair value of assets	$	118,627	$	75,462	$	43,165	$	—


	Fair Value Measurements as of December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury bills	$	86,964	$	86,964	$	—	$	—
U.S. government agency bonds	28,717		—		28,717		—
Money market fund investments (included in cash and cash equivalents)	11,361		11,361		—		—
Corporate debt securities	8,663		—		8,663		—
Commercial paper ($999 included in cash and cash equivalents)	7,140		—		7,140		—
Total fair value of assets	$	142,845	$	98,325	$	44,520	$	—

The fair value and amortized cost of cash equivalents and available-for-sale marketable securities by major security type as of March 31, 2026, and December 31, 2025, are presented in the following tables (in thousands):


	As of March 31, 2026
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Treasury bills	$	63,404	$	18	$	(17)	$	63,405
U.S. government agency bonds	28,512		1		(15)		28,498
Money market fund investments (included in cash and cash equivalents)	12,057		—		—		12,057
Corporate debt securities	7,695		—		(10)		7,685
Commercial paper	6,983		—		(1)		6,982
Total cash equivalents and marketable securities	$	118,651	$	19	$	(43)	$	118,627

Classified as:
Cash and cash equivalents							$	12,057
Marketable securities, short-term							105,569
Marketable securities, long-term							1,001
Total cash equivalents and marketable securities							118,627


	As of December 31, 2025
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Treasury bills	$	86,872	$	92	$	—	$	86,964
U.S. government agency bonds	28,707		12		(2)		28,717
Money market fund investments (included in cash and cash equivalents)	11,361		—		—		11,361
Corporate debt securities	8,663		2		(2)		8,663
Commercial paper ($999 included in cash and cash equivalents)	7,139		1		—		7,140
Total cash equivalents and marketable securities	$	142,742	$	107	$	(4)	$	142,845

Classified as:
Cash and cash equivalents							$	12,360
Marketable securities, short-term							126,980
Marketable securities, long-term							3,505
Total cash equivalents and marketable securities							$	142,845

We reviewed each of our marketable securities as of March 31, 2026, and December 31, 2025, and concluded that any decline in fair value was not related to credit losses and is recoverable. Accordingly, no allowance for credit losses was recorded and the unrealized losses are reported as a component of accumulated other comprehensive income.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

Stock-Based Compensation - Schedule of Restricted Stock Units Activity (RSUs) (Details) - Restricted Stock Units RSU and Performance-Based RSUs	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Number of Shares Underlying Outstanding RSUs
Unvested, beginning of period (in shares) \| shares	2,173,234
Granted (in shares) \| shares	1,220,599
Vested (in shares) \| shares	(374,165)
Forfeited (in shares) \| shares	0
Unvested, end of period (in shares) \| shares	3,019,668
Weighted-Average Grant Date Fair Value per RSU
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 2.74
Granted (in dollars per share) \| $ / shares	1.80
Vested (in dollars per share) \| $ / shares	3.45
Forfeited (in dollars per share) \| $ / shares	0
Unvested, ending balance (in dollars per share) \| $ / shares	$ 2.27

Net Loss Per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Net Loss Per Share

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026		2025
Numerator:
Net loss	$	(25,085)	$	(39,991)
Denominator:
Weighted-average common shares outstanding used to compute net loss per share, basic and diluted	95,861,716		92,679,493
Net loss per share, basic and diluted	$	(0.26)	$	(0.43)

Because we were in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods, as the inclusion of all common stock equivalents outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	As of March 31, 2026	As of March 31, 2025
Stock options outstanding	15,895,762	14,022,265
RSUs issued and outstanding	3,019,668	2,217,789
Shares committed under ESPP	324,132	509,727
	19,239,562	16,749,781

Balance Sheet Items (Tables)

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Schedule of Property and Equipment

Property and equipment, net, consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Lab equipment	$	15,649	$	15,636
Leasehold improvements	3,057		3,057
Computer equipment	897		897
Furniture and equipment	697		697
Total property and equipment, gross	20,300		20,287
Less: accumulated depreciation and amortization	(14,177)		(13,527)
Property and equipment, net	$	6,123	$	6,760

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Accrued research and development expenses	$	7,614	$	6,109
Accrued employee compensation and related expenses	3,712		7,745
Accrued expenses related to sublicensing revenues	983		992
Accrued patent expenses	848		873
Other	732		816
Total	$	13,889	$	16,535

Balance Sheet Items - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Accrued research and development expenses	$ 7,614	$ 6,109
Accrued employee compensation and related expenses	3,712	7,745
Accrued expenses related to sublicensing revenues	983	992
Accrued patent expenses	848	873
Other	732	816
Total	$ 13,889	$ 16,535

Income Taxes (Details) $ in Thousands	3 Months Ended
Income Taxes (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Income Tax Disclosure [Abstract]
Income tax expense	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Description of the Business, Organization, and Liquidity	3 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business, Organization, and Liquidity	Description of the Business, Organization, and Liquidity Business and Organization Caribou Biosciences, Inc. (“Company” or “we”) is a clinical-stage Clustered Regularly Interspaced Short Palindromic Repeats (“CRISPR”) genome-editing biopharmaceutical company dedicated to developing transformative therapies for patients with devastating diseases. Our genome-editing platform is based on our novel chRDNA (CRISPR hybrid RNA-DNA, pronounced “chardonnay”) technology, which enables more precise genome editing of allogeneic cell therapies. Our allogeneic, or off-the-shelf, chimeric antigen receptor (“CAR”)-T (“CAR-T”) cell therapy candidates are manufactured in advance with cells from healthy donors, with the goal of enabling broad patient access, rapid patient treatment, and increased manufacturing scale. We use our chRDNA technologies to armor our allogeneic CAR-T cell therapies through multiple genome-editing strategies, such as checkpoint disruption and immune cloaking, to enhance activity against hematologic malignancies. We incorporated in October 2011 as a Delaware corporation and are headquartered in Berkeley, California. We have four wholly owned subsidiaries that hold interests in our equity investments and do not have operating activities. Liquidity We have incurred operating losses and negative cash flows from operations since our inception and we had an accumulated deficit of $621.6 million as of March 31, 2026. During the three months ended March 31, 2026, we incurred a net loss of $25.1 million and used $27.0 million of cash in operating activities. We expect to continue to incur substantial losses, and our ability to achieve and sustain profitability will depend on the successful development, regulatory approval, and commercialization of our CAR-T cell therapy product candidates and on our ability to generate sufficient revenue to support our cost structure. We may never achieve profitability and, unless and until we do, we will need to continue to raise additional capital. Our management expects that existing cash, cash equivalents, and marketable securities of $118.6 million as of March 31, 2026, will be sufficient to fund our current operating plan for at least the next 12 months from the date this Quarterly Report on Form 10-Q (“Form 10-Q”) is filed.

Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table is a summary of revenue by geographic location for the three months ended March 31, 2026, and March 31, 2025 (in thousands):


	Three Months Ended March 31,
	2026		2025
United States	$	2,257	$	2,224
Rest of world	140		129
Total	$	2,397	$	2,353

Schedule of Changes in Company's Contract Assets and Liabilities

The following table presents changes in our contract assets and liabilities for the three months ended March 31, 2026 (in thousands):


	Balance as of December 31, 2025		Additions		Deductions		Balance as of March 31, 2026
Accounts receivable	$	69	$	1,709	$	(1,551)	$	227

Contract assets:
Unbilled accounts receivable	$	1,006	$	691	$	(1,006)	$	691

Contract liabilities:
Deferred revenue, current and long-term	$	3,647	$	676	$	(1,681)	$	2,642

Description of the Business, Organization, and Liquidity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) subsidiary	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of subsidiaries \| subsidiary	4
Accumulated deficit	$ (621,600)		$ (596,515)
Net loss	(25,085)	$ (39,991)
Cash generated in operating activities	(26,984)	$ (36,725)
Cash, cash equivalents and short term marketable securities	$ 118,600

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References

+ Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Apr. 30, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-40631
Entity Registrant Name	Caribou Biosciences, Inc.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	45-3728228
Entity Address Address Line1	2929 7th Street
Entity Address, Address Line Two	Suite 105
Entity Address City Or Town	Berkeley
Entity Address, State and Province	CA
Entity Address Postal Zip Code	94710
City Area Code	510
Local Phone Number	982-6030
Security12b Title	Common Stock, par value $0.0001 per share
Trading Symbol	CRBU
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		99,180,575
Entity Central Index Key	0001619856
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Fiscal Year Focus	2026

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	$ (25,085)	$ (39,991)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	649	1,165
Change in fair value of equity securities	0	11
Stock-based compensation expense	2,357	3,882
Change in fair value of the MSKCC success payments liability	0	(334)
Accretion of discounts on investments in marketable securities, net	(269)	(452)
Non-cash lease expense	315	490
Changes in operating assets and liabilities:
Accounts receivable	(158)	177
Contract assets	315	350
Other receivables	459	(17)
Prepaid expenses and other current assets	522	471
Other assets	63	479
Accounts payable	(2,220)	1,404
Accrued expenses and other current liabilities	(2,646)	(3,101)
Deferred revenue, current and long-term	(1,005)	(996)
Operating lease liabilities	(281)	(263)
Net cash used in operating activities	(26,984)	(36,725)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities of marketable securities	46,142	65,955
Purchases of marketable securities	(22,085)	(15,532)
Purchases of property and equipment	(72)	(1,042)
Net cash provided by investing activities	23,985	49,381
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	9	0
Proceeds from issuances of common stock under ESPP	468	468
Proceeds from issuances of common stock related to ATM, net of offering expenses	2,219	0
Net cash provided by financing activities	2,696	468
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(303)	13,124
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — BEGINNING OF PERIOD	12,406	16,339
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — END OF PERIOD	12,103	29,463
RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
Cash and cash equivalents	12,057	29,417
Restricted cash	46	46
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH ON THE BALANCE SHEET	12,103	29,463
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 0	$ 115

Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended
	Jun. 29, 2023	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Revenue		$ 2,397	$ 2,353
Contract with customer, increase for new contract	$ 7,500
Deferred revenue		2,642		$ 3,647
Deferred revenue, current		994		1,895
Deferred revenue, noncurrent		$ 1,648		$ 1,752

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

We operate and manage our business as one reportable segment and one operating segment, which is the business of developing allogeneic CAR-T cell therapies. Operating segments are defined as components of an entity about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance; the CODM is our president and chief executive officer. Our CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on our consolidated statements of operations. The measure of segment assets is reported on our consolidated balance sheets as total consolidated assets. All our material long-lived assets are located in the United States. Our CODM uses consolidated net loss to evaluate our spending and monitor our budget versus actual results to assess performance of the segment and to allocate resources across our company. Factors used in determining the reportable segment include the nature of our operating activities, our company’s organizational and reporting structures, and the type of information reviewed by our CODM to allocate resources and evaluate financial performance.

The following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable segment for the periods indicated:


	Three Months Ended March 31,
	2026		2025
Licensing and other third-party revenue	$	2,397	$	2,353
Less:
Research and development:
External costs	10,690		21,859
Internal costs(1)	8,179		10,877
Total research and development	18,869		32,736
General and administrative(2)	6,802		7,484
Other segment items(3)	3,006		4,712
Other income, net	(1,195)		(2,588)
Segment and consolidated net loss	$	(25,085)	$	(39,991)

(3)Other segment items for the three-month periods ended March 31, 2026, and March 31, 2025, include stock-based compensation and depreciation and amortization.

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation Of Revenue [Line Items]
Revenue recognized included in the opening contract liabilities balance	$ 1.0	$ 1.0
Point in Time
Disaggregation Of Revenue [Line Items]
Revenue recognized, performance obligation, amount	1.8	1.8
Over Time
Disaggregation Of Revenue [Line Items]
Revenue recognized, performance obligation, amount	$ 0.6	$ 0.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured on Recurring Basis

The following table sets forth our financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


	Fair Value Measurements as of March 31, 2026
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury bills	$	63,405	$	63,405	$	—	$	—
U.S. government agency bonds	28,498		—		28,498		—
Money market fund investments (included in cash and cash equivalents)	12,057		12,057		—		—
Corporate debt securities	7,685		—		7,685		—
Commercial paper	6,982		—		6,982		—
Total fair value of assets	$	118,627	$	75,462	$	43,165	$	—


	Fair Value Measurements as of December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury bills	$	86,964	$	86,964	$	—	$	—
U.S. government agency bonds	28,717		—		28,717		—
Money market fund investments (included in cash and cash equivalents)	11,361		11,361		—		—
Corporate debt securities	8,663		—		8,663		—
Commercial paper ($999 included in cash and cash equivalents)	7,140		—		7,140		—
Total fair value of assets	$	142,845	$	98,325	$	44,520	$	—

Schedule of Fair Value and Amortized Cost of Cash Equivalents and Available-for-Sale Marketable Securities


	As of March 31, 2026
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Treasury bills	$	63,404	$	18	$	(17)	$	63,405
U.S. government agency bonds	28,512		1		(15)		28,498
Money market fund investments (included in cash and cash equivalents)	12,057		—		—		12,057
Corporate debt securities	7,695		—		(10)		7,685
Commercial paper	6,983		—		(1)		6,982
Total cash equivalents and marketable securities	$	118,651	$	19	$	(43)	$	118,627

Classified as:
Cash and cash equivalents							$	12,057
Marketable securities, short-term							105,569
Marketable securities, long-term							1,001
Total cash equivalents and marketable securities							118,627


	As of December 31, 2025
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Treasury bills	$	86,872	$	92	$	—	$	86,964
U.S. government agency bonds	28,707		12		(2)		28,717
Money market fund investments (included in cash and cash equivalents)	11,361		—		—		11,361
Corporate debt securities	8,663		2		(2)		8,663
Commercial paper ($999 included in cash and cash equivalents)	7,139		1		—		7,140
Total cash equivalents and marketable securities	$	142,742	$	107	$	(4)	$	142,845

Classified as:
Cash and cash equivalents							$	12,360
Marketable securities, short-term							126,980
Marketable securities, long-term							3,505
Total cash equivalents and marketable securities							$	142,845

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

There have been no changes to the significant accounting policies disclosed in Note 2 to the annual consolidated financial statements for the year ended December 31, 2025, included in our Annual Report on Form 10-K (“Form 10-K”).

Basis of Presentation and Principles of Consolidation

Use of Estimates

Concentrations of Credit Risk and Other Uncertainties

Third parties that represent 10% or more of our revenue and accounts receivable and contract assets were as follows:


	Revenue				Accounts Receivable and Contract Assets
	Three Months Ended				As of March 31, 2026	As of December 31, 2025
	March 31, 2026		March 31, 2025
Party A	25.9	%	26.4	%		*		*
Party B	25.7	%	26.2	%		*		*
Party C	20.6	%	16.8	%		60.4	%	54.5	%
Party D	*		*			*		11.8	%
Party E	*		*			11.1	%	*
Total	72.2	%	69.4	%		71.5	%	66.3	%

*Less than 10%

We monitor economic conditions to identify facts or circumstances that may indicate if any of our accounts receivable are not collectible or if contract assets should be impaired. No allowance for credit losses or contract asset impairment was recorded as of March 31, 2026, or December 31, 2025.

Recent Accounting Pronouncements Not Yet Adopted

Common Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	May 08, 2025	Mar. 31, 2026	Mar. 31, 2025
Subsidiary or Equity Method Investee [Line Items]
Authorized amount under shelf registration	$ 300,000
Shelf Registration Statement Available for Sale		$ 293,400
At The Market ATM Offering
Subsidiary or Equity Method Investee [Line Items]
Aggregate offering price (up to)		$ 2,200
Common stock shares sold (in shares)		1,078,768	0
Public offering price (in dollars per share)		$ 2.11
Aggregate gross proceeds		$ 2,300
Sale of stock, number of shares remaining available, amount		$ 93,400
Over-Allotment Option
Subsidiary or Equity Method Investee [Line Items]
Aggregate offering price (up to)	100,000
Maximum \| At The Market ATM Offering
Subsidiary or Equity Method Investee [Line Items]
Aggregate offering price (up to)	$ 100,000

Stock-Based Compensation - Schedule of Stock-based Compensation Expense Related to Equity-Based Awards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 2,357	$ 3,882
Stock options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	1,666	3,175
RSUs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	574	585
ESPP
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 117	$ 122

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Research, Manufacturing, and License Agreements We enter into various agreements in the ordinary course of business, such as those with contract manufacturing organizations (“CMOs”), suppliers, contract research organizations (“CROs”), clinical trial sites, licensors, assignors, and the like. These agreements provide for termination by either party in certain circumstances, generally with less than one-year notice and are, therefore, cancellable contracts and, if cancelled, are not anticipated to have a material effect on our unaudited condensed consolidated financial condition, results of operations, or cash flows. Some of these agreements include contingent payments that will become payable if and when certain development, regulatory, clinical, and/or commercial milestones are achieved by us. As of March 31, 2026, satisfaction and timing of such contingent payments are uncertain and thus cannot be reasonably estimated. Guarantees and Indemnifications In the ordinary course of business, we enter into agreements that contain a variety of representations and warranties and provide for certain indemnifications by us. Our exposure under these agreements is unknown because claims may be made against us in the future. As of March 31, 2026, and December 31, 2025, we did not have any material indemnification claims that were probable or reasonably possible, and consequently, we have not recorded related liabilities. Litigation From time to time, we may become involved in litigation arising in the ordinary course of business. We record a liability for such litigation when it is probable that future losses will be incurred and if such losses can be reasonably estimated. Significant judgment by us is required to determine both probability and the estimated amount.

Balance Sheet Items - Schedule of Property And Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	$ 20,300	$ 20,287
Less: accumulated depreciation and amortization	(14,177)	(13,527)
Property and equipment, net	6,123	6,760
Lab equipment
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	15,649	15,636
Leasehold improvements
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	3,057	3,057
Computer equipment
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	897	897
Furniture and equipment
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	$ 697	$ 697

- Definition

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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- Definition

Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

Revenue - Schedule of Changes in Company's Contract Assets and Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Accounts receivable
Accounts receivable, Beginning Balance	$ 69
Accounts receivable, Additions	1,709
Accounts receivable, Deductions	(1,551)
Accounts receivable, Ending Balance	227
Contract assets:
Unbilled accounts receivable, Beginning Balance	1,006
Unbilled accounts receivable, Additions	691
Unbilled accounts receivable, Deductions	(1,006)
Unbilled accounts receivable, Ending Balance	691
Contract liabilities:
Deferred revenue, current and long-term, Beginning Balance	3,647
Deferred revenue, current and long-term, Additions	676
Deferred revenue, current and long-term, Deductions	(1,681)
Deferred revenue, current and long-term, Ending Balance	$ 2,642

Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

We disaggregate revenue by geographical market based on the location of research and development activities of our licensees and other third parties. The following table is a summary of revenue by geographic location for the three months ended March 31, 2026, and March 31, 2025 (in thousands):


	Three Months Ended March 31,
	2026		2025
United States	$	2,257	$	2,224
Rest of world	140		129
Total	$	2,397	$	2,353

For each of the three-month periods ended March 31, 2026, and March 31, 2025, we recognized $1.8 million of revenue related to performance obligations satisfied at a point in time, and we recognized $0.6 million of revenue related to performance obligations satisfied over time.

Contract Balances

Accounts receivable relate to our right to consideration for performance obligations completed (or partially completed) for which we have an unconditional right to consideration. Our accounts receivable balances represent amounts we billed to our licensees with invoices outstanding as of the end of a reporting period.

Contract assets are rights to consideration in exchange for a license that we have granted to a licensee when the right is conditional on something other than the passage of time. Our contract asset balances represent royalties and milestone payments from our other license agreements that are unbilled as of the end of a reporting period.

Contract liabilities consist of deferred revenue and relate to amounts invoiced to, or advance consideration received from, licensees and other third parties that precede our satisfaction of the associated performance obligations. As of March 31, 2026, and December 31, 2025, our deferred revenue balance primarily resulted from the upfront payment received in 2023 relating to our performance obligation to Pfizer Inc. (“Pfizer”). The remaining deferred revenue relates to upfront payments received under license agreements that also include nonrefundable annual license fees, which are accounted for as material rights for license renewals and are recognized at the point in time when annual license fees are paid by the licensees and the renewal periods begin.

The following table presents changes in our contract assets and liabilities for the three months ended March 31, 2026 (in thousands):


	Balance as of December 31, 2025		Additions		Deductions		Balance as of March 31, 2026
Accounts receivable	$	69	$	1,709	$	(1,551)	$	227

Contract assets:
Unbilled accounts receivable	$	1,006	$	691	$	(1,006)	$	691

Contract liabilities:
Deferred revenue, current and long-term	$	3,647	$	676	$	(1,681)	$	2,642

For each of the three-month periods ended March 31, 2026, and March 31, 2025, we recognized $1.0 million of revenue, which was included in the opening contract liabilities balances at the beginning of the respective periods.

Transaction Prices Allocated to Remaining Performance Obligations

Remaining performance obligations represent in aggregate the amount of a transaction price that has been allocated to performance obligations not delivered as of the end of a reporting period. The value of transaction prices allocated to remaining unsatisfied performance obligations as of March 31, 2026, and December 31, 2025, were approximately $2.6 million and $3.6 million, respectively. We expect to recognize approximately $1.0 million of remaining performance obligations as revenue in the next 12 months from March 31, 2026, and to recognize the remainder thereafter.

Capitalized Contract Acquisition Costs and Fulfillment Costs

We did not incur any expenses to obtain our existing contracts, and costs to fulfill those contracts do not generate or enhance our resources. As such, no costs to obtain or fulfill a contract have been capitalized in any period.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Common Stock (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Common Stock Reserved for Future Issuance

ommon stock reserved for future issuances consisted of the following:


	As of March 31, 2026	As of December 31, 2025
Stock options, issued and outstanding	15,895,762	12,511,072
Shares of common stock, authorized for future issuances	9,338,658	9,192,963
Shares committed under ESPP	3,029,080	2,426,055
Unvested RSUs	3,019,668	2,173,234
Total shares of common stock reserved for future issuances	31,283,168	26,303,324

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Provision for Credit Losses and Other Uncertainties

Third parties that represent 10% or more of our revenue and accounts receivable and contract assets were as follows:


	Revenue				Accounts Receivable and Contract Assets
	Three Months Ended				As of March 31, 2026	As of December 31, 2025
	March 31, 2026		March 31, 2025
Party A	25.9	%	26.4	%		*		*
Party B	25.7	%	26.2	%		*		*
Party C	20.6	%	16.8	%		60.4	%	54.5	%
Party D	*		*			*		11.8	%
Party E	*		*			11.1	%	*
Total	72.2	%	69.4	%		71.5	%	66.3	%

*Less than 10%