7Baggers

Annexon, Inc
(NASDAQ:ANNX) 

ANNX stock logo

Annexon, Inc., a clinical-stage biopharmaceutical company, engages in developing therapies for patients with classical complement-mediated disorders of the body, brain, and eye. Its products in pipelines are focused on antibody-mediated autoimmune and complement-mediated neurodegenerative disorders....

Founded: 2011
Full Time Employees: 38
CEO: Douglas Love  
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                          
      operating expenses:
    		                      
      research and development
    		49,700,000 44,160,000 48,179,000 43,354,000 30,105,000 25,026,000 20,963,000 23,267,000 27,893,000 30,251,000 32,345,000 28,535,000 27,862,000 29,106,000 26,998,000 27,217,000 27,581,000 24,572,000 20,696,000 17,992,000 11,775,000 9,287,000 
      general and administrative
    		7,318,000 7,566,000 9,226,000 9,125,000 9,337,000 8,554,000 7,609,000 6,742,000 6,888,000 7,440,000 8,897,000 8,160,000 8,207,000 8,303,000 8,428,000 10,241,000 8,099,000 6,801,000 5,452,000 5,199,000 3,810,000 2,950,000 
      total operating expenses
    		57,018,000 51,726,000 57,405,000 52,479,000 39,442,000 33,580,000 28,572,000 30,009,000 34,781,000 37,691,000 41,242,000 36,695,000 36,069,000 37,409,000 35,426,000 37,458,000 35,680,000 31,373,000 26,148,000 23,191,000 15,585,000 12,237,000 
      income from operations
    		-57,018,000 -51,726,000 -57,405,000 -52,479,000 -39,442,000 -33,580,000 -28,572,000 -30,009,000 -34,781,000 -37,691,000 -41,242,000 -36,695,000 -36,069,000 -37,409,000 -35,426,000 -37,458,000 -35,680,000 -31,373,000 -26,148,000 -23,191,000 -15,585,000 -12,237,000 
      yoy
    		44.56% 54.04% 100.91% 74.88% 13.40% -10.91% -30.72% -18.22% -3.57% 0.75% 16.42% -2.04% 1.09% 19.24% 35.48% 61.52% 128.94% 156.38%     
      qoq
    		10.23% -9.89% 9.39% 33.05% 17.46% 17.53% -4.79% -13.72% -7.72% -8.61% 12.39% 1.74% -3.58% 5.60% -5.42% 4.98% 13.73% 19.98% 12.75% 48.80% 27.36%  
      interest and other income
    		2,096,000 2,570,000 3,049,000 3,889,000 4,618,000 3,970,000 3,396,000 2,118,000 2,299,000 2,503,000 2,566,000 2,312,000 1,015,000 272,000 53,000        
      net income
    		-54,922,000 -49,156,000 -54,356,000 -48,590,000 -34,824,000 -29,610,000 -25,176,000 -27,891,000 -32,482,000 -35,188,000 -38,676,000 -34,383,000 -35,054,000 -37,137,000 -35,373,000 -37,371,000 -35,598,000 -31,294,000 -26,006,000 -23,193,000 -15,638,000 -12,240,000 
      yoy
    		57.71% 66.01% 115.90% 74.21% 7.21% -15.85% -34.91% -18.88% -7.34% -5.25% 9.34% -8.00% -1.53% 18.67% 36.02% 61.13% 127.64% 155.67%     
      qoq
    		11.73% -9.57% 11.87% 39.53% 17.61% 17.61% -9.73% -14.13% -7.69% -9.02% 12.49% -1.91% -5.61% 4.99% -5.35% 4.98% 13.75% 20.33% 12.13% 48.31% 27.76%  
      deemed dividend on modification of common stock warrants
    		 -1,857,000                     
      net income attributable to common stockholders
    		-54,922,000 -51,013,000          -34,383,000 -35,054,000 -37,137,000 -35,373,000 -37,371,000 -35,598,000 -31,294,000 -26,006,000 -23,193,000 -22,002,000 -12,521,000 
      net income per share
    		-0.37 -0.34 -0.37 -0.33 -0.25 -0.23 -0.21 -0.35 -0.43 -0.47 -0.52 -0.39 -0.51 -0.96 -0.92 -0.97 -0.93 -0.82 -0.68 0.64 -0.77 -28.87 
      weighted-average shares used for eps calculation
    		149,123,701 148,320,803 148,108,809 137,404,145 139,933,019 130,132,960 122,673,202 75,673,081 75,342,495 75,230,003 73,855,642 54,673,572 68,652,859 38,584,400 38,563,384 38,316,273 38,341,110 38,277,950 38,163,062 16,962,398 28,465,156 433,749 
      other income
    		               75,750 82,000 79,000 142,000 -7,000 -52,000 1,000 
      net income before taxes
    		               -23,238,000 -35,598,000 -31,294,000  -23,198,000 -15,637,000 -12,236,000 
      provision for income taxes
    		                   1,250 1,000 4,000 
      accretion on redeemable convertible preferred stock
    		                    -145,000 281,000 
      deemed dividend - beneficial conversion feature on redeemable convertible preferred stock
    		                      
      loss on remeasurement of redeemable convertible preferred stock liability
    		                      
      deemed dividend – beneficial conversion feature on redeemable convertible preferred stock
    		                    -6,219,000  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                              
        assets
      		                        
        current assets:
      		                        
        cash and cash equivalents
      		175,208,000 162,051,000 139,419,000 132,288,000 97,122,000 49,498,000 79,540,000 157,304,000 151,941,000 225,110,000 133,159,000 113,614,000 144,120,000 140,020,000 210,658,000 104,614,000 112,828,000 74,843,000 68,519,000 99,588,000 206,669,000 268,565,000 370,686,000 124,761,000 
        short-term investments
      		49,817,000 76,294,000 49,302,000 94,729,000 166,574,000 262,519,000 260,576,000 211,395,000 113,007,000 34,606,000 32,112,000 79,324,000 84,045,000 102,637,000 58,861,000 72,980,000 93,831,000 167,872,000 202,848,000 202,798,000 119,985,000 82,641,000   
        prepaid expenses and other current assets
      		3,241,000 3,846,000 4,101,000 3,603,000 4,466,000 4,444,000 4,176,000 5,270,000 5,792,000 4,144,000 3,898,000 4,623,000 4,371,000 5,441,000 5,258,000 3,778,000 4,595,000 4,978,000 4,131,000 2,007,000 3,868,000 2,805,000 2,889,000 907,000 
        total current assets
      		228,266,000 242,191,000 192,822,000 230,620,000 268,162,000 316,461,000 344,292,000 373,969,000 270,740,000 263,860,000 169,169,000 197,561,000 232,536,000 248,098,000 274,777,000 181,372,000 211,254,000 247,693,000 275,498,000 304,393,000 330,522,000 354,011,000 373,575,000 125,668,000 
        restricted cash
      		1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,032,000 1,166,000 1,166,000 1,166,000 1,166,000 1,166,000    
        property and equipment
      		10,107,000 10,617,000 11,152,000 11,650,000 12,190,000 12,638,000 13,169,000 13,702,000 14,235,000 14,773,000 15,310,000 15,830,000 16,334,000 16,838,000 17,093,000 17,418,000 17,805,000 17,848,000 12,219,000   1,935,000   
        operating lease right-of-use assets
      		14,767,000 15,185,000 15,587,000 15,974,000 16,346,000 16,705,000 17,050,000 17,382,000 17,701,000 18,009,000 18,305,000 18,590,000 18,864,000 19,128,000 19,616,000 19,864,000 20,103,000 20,333,000 20,680,000 21,096,000     
        other non-current assets
      		8,716,000 8,546,000 8,549,000 5,297,000 5,297,000 3,235,000 3,233,000  361,000      204,000 1,018,000 241,000        
        total assets
      		262,888,000 277,571,000 229,142,000 264,573,000 303,027,000 350,071,000 378,776,000 406,085,000 304,069,000 297,674,000 203,816,000 233,013,000 268,778,000 285,096,000 312,722,000 220,704,000 250,569,000 287,040,000 310,156,000 331,784,000 333,117,000 355,946,000 375,614,000 131,087,000 
        liabilities and stockholders’ equity
      		                        
        current liabilities:
      		                        
        accounts payable
      		17,529,000 14,931,000 18,219,000 11,515,000 10,437,000 10,426,000 6,748,000 4,126,000 3,972,000 5,487,000 4,809,000 7,161,000 10,346,000 7,416,000 6,921,000 10,301,000 9,378,000 11,153,000 4,797,000 4,184,000 4,518,000 3,734,000 3,954,000 3,064,000 
        accrued and other current liabilities
      		15,392,000 24,791,000 22,543,000 26,411,000 20,494,000 17,568,000 10,861,000                  
        operating lease liabilities, current
      		3,016,000 2,908,000 2,818,000 2,716,000 2,616,000 2,518,000 2,437,000 2,345,000 2,254,000 2,165,000 1,701,000 1,616,000 1,534,000 1,316,000 1,806,000 1,729,000 1,275,000 1,202,000 63,000 250,000     
        total current liabilities
      		35,937,000 42,630,000 43,580,000 40,642,000 33,547,000 30,512,000 20,046,000 17,148,000 13,133,000 17,928,000 17,170,000 17,891,000 22,941,000 22,360,000 20,220,000 20,254,000 17,053,000 21,744,000 11,919,000 10,284,000 10,695,000 10,622,000 8,988,000 12,660,000 
        operating lease liabilities, non-current
      		22,418,000 23,293,000 24,120,000 24,914,000 25,692,000 26,454,000 27,170,000 27,858,000 28,531,000 29,190,000 29,807,000 30,398,000 30,976,000 31,542,000 31,900,000 32,406,000 32,902,000 33,387,000 33,760,000 26,165,000     
        total liabilities
      		58,355,000 65,923,000 67,700,000 65,556,000 59,239,000 56,966,000 47,216,000 45,006,000 41,664,000 47,118,000 46,977,000 48,289,000 53,917,000 53,902,000 52,120,000 52,660,000 49,955,000 55,131,000 45,679,000 36,449,000 11,641,000 11,668,000 10,135,000 13,907,000 
        commitments and contingencies
      		                        
        stockholders’ equity:
      		                        
        common stock
      		162,000  115,000 110,000 109,000  106,000 106,000 90,000  53,000 53,000 53,000  48,000 39,000 39,000  38,000 38,000 38,000    
        additional paid-in capital
      		1,165,983,000 1,128,917,000 1,030,536,000 1,013,211,000 1,008,825,000 1,003,685,000 993,486,000 988,347,000 860,092,000 823,029,000 701,517,000 696,968,000 691,963,000 669,780,000 664,839,000 537,269,000 532,636,000 528,365,000 523,458,000 518,708,000 513,539,000 510,309,000 508,318,000 9,365,000 
        accumulated other comprehensive loss
      		-81,000      77,000 -89,000 -102,000 -52,000 -123,000 -171,000 -217,000 -372,000 -406,000 -439,000 -373,000 -180,000 -75,000 -65,000 -103,000 -77,000 -78,000 -82,000 
        accumulated deficit
      		-961,531,000 -917,389,000 -869,133,000 -814,211,000 -765,055,000 -710,699,000 -662,109,000 -627,285,000 -597,675,000 -572,499,000 -544,608,000 -512,126,000 -476,938,000 -438,262,000 -403,879,000 -368,825,000 -331,688,000 -296,315,000 -258,944,000 -223,346,000 -191,998,000 -165,992,000 -142,799,000 -127,161,000 
        total stockholders’ equity
      		204,533,000 211,648,000 161,442,000 199,017,000 243,788,000 293,105,000 331,560,000 361,079,000 262,405,000 250,556,000 156,839,000 184,724,000 214,861,000 231,194,000 260,602,000 168,044,000 200,614,000  264,477,000 295,335,000 321,476,000 344,278,000 365,479,000  
        total liabilities and stockholders’ equity
      		262,888,000 277,571,000 229,142,000 264,573,000 303,027,000 350,071,000 378,776,000 406,085,000 304,069,000 297,674,000 203,816,000 233,013,000 268,778,000 285,096,000 312,722,000 220,704,000 250,569,000 287,040,000 310,156,000 331,784,000 333,117,000    
        common stock, 0.001 par value...
      		 149,000    109,000    78,000    48,000    39,000    38,000 38,000 4,000 
        accumulated other comprehensive income
      		 -29,000 -76,000 -93,000 -91,000 10,000                   
        accrued liabilities
      		       10,657,000 6,857,000 10,235,000 10,490,000 8,953,000 10,677,000 13,448,000 11,323,000 8,060,000 6,211,000 9,250,000 7,059,000 5,850,000 5,779,000 6,497,000 4,649,000 9,218,000 
        other current liabilities
      		       20,000 50,000 41,000 170,000 161,000 384,000 180,000 170,000 164,000 189,000 139,000       
        other assets
      		            12,000      593,000      
        liabilities and stockholders' equity
      		                        
        deferred rent, current
      		                    398,000 391,000 385,000 378,000 
        deferred rent
      		                    946,000 1,046,000 1,147,000 1,247,000 
        preferred stock, 0.001 par value...
      		                        
        total stockholders' equity
      		                 231,909,000       
        property and equipment, less accumulated depreciation of 3,047 and 1,971 as of june 30, 2021 and december 31, 2020, respectively
      		                   5,129,000     
        property and equipment, less accumulated depreciation of 2,509 and 1,971 as of march 31, 2021 and december 31, 2020, respectively
      		                    1,429,000    
        other long-term assets
      		                       3,371,000 
        liabilities, redeemable convertible preferred stock and stockholders’ equity
      		                        
        redeemable convertible preferred stock, 0.001 par value...
      		                       235,054,000 
        stockholders’ equity
      		                        
        total liabilities, redeemable convertible preferred stock and stockholders’ equity
      		                     355,946,000 375,614,000  
        property and equipment, less accumulated depreciation of 1,695 and 1,304 as of september 30, 2020, and december 31, 2019, respectively
      		                      2,039,000  
        property and equipment, less accumulated depreciation of 1,566 and 1,304 as of june 30, 2020 and december 2019, respectively
      		                       2,048,000 
        liabilities, redeemable convertible preferred stock and stockholders’ deficit
      		                        
        stockholders’ deficit:
      		                        
        total stockholders’ deficit
      		                       -117,874,000 
        total liabilities, redeemable convertible preferred stock and stockholders’ deficit
      		                       131,087,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                               
          operating activities:
        		                       
          net loss
        		-44,142,000 -48,256,000 -54,922,000 -49,156,000 -54,356,000 -48,590,000 -34,824,000 -29,610,000 -25,176,000 -27,891,000 -32,482,000 -35,188,000 -38,676,000 -34,383,000 -35,054,000 -37,137,000 -35,373,000 -37,371,000 -35,598,000 -31,348,000 -26,006,000 -23,193,000 -15,638,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                       
          depreciation and amortization
        		539,000 543,000 546,000 540,000 537,000 537,000 538,000 537,000 538,000 538,000 538,000 536,000 536,000 530,000 518,000 540,000 518,000 506,000 559,000 538,000 538,000 276,000 129,000 
          accretion of discount on available-for-sale securities
        		-632,000 -424,000 -475,000 -1,256,000 -1,850,000 -3,022,000 -3,100,000 -1,795,000 -1,137,000     -417,000 -111,000 221,000 380,000  454,000 300,000 180,000   
          stock-based compensation
        		4,156,000 3,305,000 3,835,000 4,205,000 5,078,000 5,222,000 4,609,000 4,942,000 4,660,000 4,367,000 4,549,000 4,660,000 4,607,000 4,833,000 4,911,000 4,520,000 4,252,000 4,355,000 4,428,000 4,517,000 2,962,000 1,991,000 1,471,000 
          reduction in the carrying amount of right-of-use assets
        		418,000 402,000 387,000 372,000 359,000 345,000 332,000 319,000 308,000 296,000 285,000 274,000 264,000 488,000 248,000 239,000 230,000 347,000 416,000     
          changes in operating assets and liabilities:
        		                       
          prepaid expenses and other current assets
        		605,000 255,000 -498,000 863,000 -22,000 -268,000 1,094,000 503,000 -1,629,000 -191,000 725,000 -252,000 1,070,000 -183,000 -1,480,000 817,000 383,000 -847,000 -2,124,000 1,422,000 -1,063,000 84,000 -1,982,000 
          other non-current assets
        		275,000 1,000 -3,280,000 0 -2,032,000 0   -361,000      814,000 -777,000 -241,000       
          accounts payable
        		2,151,000 -3,265,000 6,665,000 1,122,000 -31,000 3,689,000 2,704,000 74,000 -1,531,000 426,000 -2,351,000 -3,187,000 3,035,000 490,000 -3,446,000 884,000 1,785,000 2,985,000 832,000 -742,000 784,000 -220,000 946,000 
          accrued and other current liabilities
        		-9,399,000 2,250,000 -3,870,000 5,917,000 2,926,000 6,707,000                  
          operating lease liabilities
        		-767,000 -737,000 -692,000 -678,000 -664,000 -635,000 -596,000 -582,000 -570,000 -153,000 -506,000 -496,000 -348,000 -848,000 -429,000 -42,000 -412,000 654,000 490,000     
          net cash from operating activities
        		-46,796,000 -45,926,000 -52,304,000 -38,071,000 -50,055,000 -36,015,000 -32,015,000 -21,709,000 -28,267,000 -23,477,000 -28,291,000 -36,381,000 -32,993,000 -27,139,000 -30,718,000 -28,164,000 -30,288,000 -28,321,000 -29,715,000 -24,658,000 -23,416,000 -19,256,000 -13,584,000 
          capital expenditures
        		 0 -48,000 -15,000 -59,000 -6,000 0 0  -7,000 -20,000 -28,000 -132,000 -290,000 -144,000 -861,000 -4,413,000 -855,000 -803,000 0 -32,000 -172,000 -276,000 
          free cash flows
        		 -45,926,000 -52,352,000 -38,086,000 -50,114,000 -36,021,000 -32,015,000 -21,709,000  -23,484,000 -28,311,000 -36,409,000 -33,125,000 -27,429,000 -30,862,000 -29,025,000 -34,701,000 -29,176,000 -30,518,000 -24,658,000 -23,448,000 -19,428,000 -13,860,000 
          investing activities:
        		                       
          purchases of property and equipment
        		 0 -48,000 -15,000 -74,000 -6,000    -7,000 -19,000 -30,000 -137,000 -282,000 -169,000 -861,000 -5,214,000 -855,000 -767,000 0 -32,000 -172,000 -276,000 
          purchases of available-for-sale securities
        		-5,944,000 -65,021,000 -26,681,000 -58,703,000 -61,806,000 -172,032,000 -145,717,000 -165,881,000 -100,302,000 -24,476,000 -13,737,000 -38,440,000 -31,435,000 -66,833,000 -18,732,000 -21,697,000 -5,935,000 -34,479,000 -31,506,000 -117,067,000 -42,549,000   
          proceeds from maturities of available-for-sale securities
        		33,000,000 38,500,000 72,600,000 131,800,000 159,500,000 173,050,000 99,800,000 69,300,000 23,000,000 22,300,000 61,594,000 44,001,000 51,089,000 23,500,000 32,999,000 42,267,000 79,400,000 71,026,000 29,000,000 28,000,000 5,000,000   
          net cash from investing activities
        		27,056,000 -26,521,000 45,871,000 73,082,000 97,620,000 1,012,000 -45,926,000 -96,581,000 -77,302,000 -2,183,000 47,838,000 5,531,000 19,517,000 -43,615,000 14,098,000 19,709,000 68,251,000 33,697,000 -1,278,000 -83,074,000 -37,581,000 -82,872,000 -276,000 
          financing activities:
        		                       
          proceeds from the exercise of common stock options
        		229,000 396,000 3,000 0 62,000 314,000 530,000 190,000 198,000 -21,000 0 0 111,000     486,000      
          proceeds from the issuance of common stock
        		33,603,000 14,299,000                      
          payment of financing costs
        		-936,000 -959,000 -628,000 -29,000 -3,000 -128,000 -355,000 -859,000 -917,000               
          net cash from financing activities
        		32,896,000 95,079,000 13,564,000 153,000 59,000 4,967,000 175,000 123,652,000 32,412,000 117,598,000 0 345,000 17,581,000 108,000 122,668,000 113,000 19,000 948,000 -73,000 652,000 268,000 0 259,781,000 
          increase in cash, cash equivalents and restricted cash
        		13,156,000 22,632,000 7,131,000 35,164,000 47,624,000    -73,157,000 91,938,000 19,547,000 -30,505,000 4,105,000 -70,646,000 106,048,000 -8,342,000 37,982,000       
          effect of exchange rate changes on cash, cash equivalents and restricted cash
        		1,000 0 0   -6,000 2,000 1,000 -12,000 13,000 -2,000 -1,000 -5,000 8,000 -4,000 -6,000 3,000 0 -3,000 -1,000 -1,000   
          cash, cash equivalents and restricted cash
        		                       
          beginning of period
        		163,083,000 0 0 0 50,530,000 0 0 0 226,142,000 0 0 0 141,052,000 0 0 0 76,009,000  0 0 268,565,000   
          end of period
        		176,240,000 22,632,000 7,131,000 35,166,000 98,154,000 -30,042,000 -77,764,000 5,363,000 152,973,000 91,951,000 19,545,000 -30,506,000 145,152,000 -70,638,000 106,044,000 -8,348,000 113,994,000  -31,069,000 -107,081,000 207,835,000   
          supplemental disclosure of cash flow information:
        		                       
          cash paid for amounts included in the measurement of lease liability
        		1,303,000 2,547,000 0 1,259,000 1,259,000 1,244,000 1,217,000 1,216,000 1,216,000 1,203,000 1,175,000 1,175,000 1,175,000 7,050,000 1,136,000 757,000 1,135,000 0 252,000     
          non-cash investing and financing activities:
        		                       
          deferred offering costs included in accounts payable and accrued liabilities
        		423,000    30,000 -11,000 -306,000 203,000 117,000               
          deferred offering costs included in other non-current assets
        		445,000  -79,000 0 81,000 2,000                  
          proceeds from employee stock purchase plan purchases
        		 272,000 0   147,000 0   134,000 0             
          proceeds from the issuance of common stock and pre-funded warrants, net of commissions
        		     0 0                 
          deemed dividend on modification of common stock warrants
        		 0 0                     
          purchases of property and equipment included in accounts payable and accrued liabilities
        		    15,000      -1,000 2,000 5,000 -8,000 25,000         
          proceeds from the issuance of common stock, including to related parties, of zero and 17,995 for the years ended december 31, 2024 and 2023, respectively
        		                       
          proceeds from the issuance of common stock, including to related parties, of zero and 17,995 for the nine months ended september 30, 2024 and 2023, respectively
        		                       
          decrease in cash, cash equivalents and restricted cash
        		      -77,766,000                 
          accrued liabilities
        		       3,572,000 -3,378,000 -480,000 1,537,000 -1,724,000 -2,771,000 2,137,000 3,305,000 2,596,000 -1,860,000 592,000 828,000 71,000 -718,000 1,848,000 1,531,000 
          other current liabilities
        		       -30,000 9,000 -129,000 9,000 -223,000 204,000 10,000 6,000 -25,000 50,000       
          proceeds from the issuance of common stock, including related party of zero and 17,995 for the six months ended june 30, 2024 and 2023, respectively
        		                       
          proceeds from the issuance of common stock, including related party of zero and 17,995 for the three months ended march 31, 2024 and 2023, respectively
        		        33,131,000               
          accretion of (discount) premium on available-for-sale securities
        		         -260,000 -595,000             
          proceeds from the issuance of common stock, pre-funded warrants and common warrants, including related party of 17,995 and 9,500 for the years ended december 31, 2023 and 2022, respectively
        		                       
          proceeds from the issuance of common stock, pre-funded warrants and common warrants, including related party of 948, net of commissions
        		                       
          other assets
        		            -12,000           
          proceeds from the issuance of common stock to a related party, net of commissions
        		          0 0 17,545,000           
          payment of common stock issuance costs
        		          0 0 -75,000           
          proceeds from the issuance of common stock, pre-funded warrants and common warrants in private placement
        		                       
          proceeds from the issuance of common stock, pre-funded warrants and common warrants in private placement - related party
        		                       
          payment of common stock, pre-funded warrants and common warrants issuance costs related to private placement
        		                       
          deferred offering costs included in accrued liabilities
        		                       
          accretion of premium (discount) on available-for-sale securities
        		            -902,000           
          proceeds from sale of available-for-sale-securities
        		                       
          proceeds from employee stock plan purchases
        		             227,000 0    0     
          proceeds from the issuance of common stock, pre-funded warrants and common warrants
        		             0          
          proceeds from the issuance of common stock, pre-funded warrants and common warrants - related party
        		             0          
          payment of issuance costs related to the issuance of common stock, pre-funded warrants and common warrants
        		             -135,000          
          right-of-use assets obtained in exchange for lease liability
        		                 0 0     
          construction-in-progress obtained in exchange for tenant improvement allowance from lessors
        		                  6,918,000     
          proceeds from the exercise common stock options
        		              45,000 0 19,000   534,000 268,000   
          deferred offering costs payment related to the 2021 atm program
        		                       
          purchases of property and equipment included in accrued liabilities
        		                801,000       
          accretion of discount on available-for sale securities
        		                       
          other long-term assets
        		                     0 52,000 
          deferred rent
        		                    -93,000 -95,000 -93,000 
          proceeds from sale of available-for-sale securities
        		                 -1,995,000 1,995,000     
          proceeds from employee stock purchase plan
        		                       
          proceeds from paycheck protection program loan
        		                     0 0 
          repayments of paycheck protection program loan
        		                     0 0 
          proceeds from issuance of redeemable convertible preferred stock
        		                     0  
          payments of issuance costs related to redeemable convertible preferred stock
        		                     0  
          proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions
        		                     0  
          payments of offering costs related to initial public offering
        		                     0  
          increase in cash, cash equivalents, and restricted cash
        		                 6,324,000      
          cash, cash equivalents, and restricted cash at beginning of year
        		                       
          cash, cash equivalents, and restricted cash at end of year
        		                       
          supplemental disclosures of cash flow information:
        		                       
          reclassification of redeemable convertible preferred stock to common stock upon initial public offering
        		                     0  
          accretion on redeemable convertible preferred stock
        		                     0 145,000 
          leasehold improvements obtained in exchange for tenant improvement allowance from lessors
        		                       
          purchase of property and equipment included in accounts payable and accrued liabilities
        		                       
          beneficial conversion feature recognized upon issuance of redeemable convertible preferred stock
        		                     0 0 
          deemed dividend arising from conversion of beneficial conversion feature
        		                     0  
          deferred offering costs payment
        		                       
          purchase of property and equipment included in accounts payable
        		                  -36,000     
          deferred offering cost payments
        		                       
          proceeds from issuance of redeemable convertible preferred stock, net of issuance costs
        		                       
          net increase in cash, cash equivalents and restricted cash
        		                       
          issuance costs of redeemable convertible preferred stock included in accounts payable and accrued liability
        		                       
          net decrease in cash, cash equivalents and restricted cash
        		                    -60,729,000   
          change in fair value of redeemable convertible preferred stock liability
        		                       
          purchase of available-for-sale securities
        		                       
          net increase in cash and cash equivalents
        		                     -102,128,000 245,921,000 
          effect of exchange rate changes on cash and cash equivalents
        		                     7,000 4,000 
          cash and cash equivalents at beginning of period
        		                     0 0 
          cash and cash equivalents at end of period
        		                     -102,121,000 245,925,000 
          income taxes paid
        		                       
          reclassification of redeemable convertible preferred stock liability to redeemable convertible preferred stock
        		                       
          payment of deferred offering costs
        		                       
          issuance costs of redeemable convertible preferred stock included in accounts payable and accrued liabilities