CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Common Stock At Market Offering	Additional Paid-in Capital	Additional Paid-in Capital At Market Offering	Accumulated Other Comprehensive (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023		6,503,913
Beginning balance at Dec. 31, 2023	$ 225,829	$ 0		$ 807,158		$ (348)	$ (580,981)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4,515			4,515
Net loss	(24,302)						(24,302)
Other comprehensive loss	(215)					(215)
Ending balance (in shares) at Mar. 31, 2024		6,503,913
Ending balance at Mar. 31, 2024	205,827	$ 0		811,673		(563)	(605,283)
Beginning balance (in shares) at Dec. 31, 2023		6,503,913
Beginning balance at Dec. 31, 2023	225,829	$ 0		807,158		(348)	(580,981)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(39,219)
Ending balance (in shares) at Jun. 30, 2024		6,503,913
Ending balance at Jun. 30, 2024	195,019	$ 0		815,846		(627)	(620,200)
Beginning balance (in shares) at Mar. 31, 2024		6,503,913
Beginning balance at Mar. 31, 2024	205,827	$ 0		811,673		(563)	(605,283)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4,173			4,173
Net loss	(14,917)						(14,917)
Other comprehensive loss	(64)					(64)
Ending balance (in shares) at Jun. 30, 2024		6,503,913
Ending balance at Jun. 30, 2024	$ 195,019	$ 0		815,846		(627)	(620,200)
Beginning balance (in shares) at Dec. 31, 2024	6,525,887	6,525,887
Beginning balance at Dec. 31, 2024	$ 169,436	$ 0		824,780		(228)	(655,116)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		33,040,000
Issuance of common stock upon exercise of stock options	404			404
Stock-based compensation	3,495			3,495
Net loss	(28,200)						(28,200)
Other comprehensive loss	(223)					(223)
Ending balance (in shares) at Mar. 31, 2025		6,558,927
Ending balance at Mar. 31, 2025	$ 144,912	$ 0		828,679		(451)	(683,316)
Beginning balance (in shares) at Dec. 31, 2024	6,525,887	6,525,887
Beginning balance at Dec. 31, 2024	$ 169,436	$ 0		824,780		(228)	(655,116)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (49,594)
Ending balance (in shares) at Jun. 30, 2025	6,750,716	6,750,716
Ending balance at Jun. 30, 2025	$ 131,670	$ 0		837,185		(805)	(704,710)
Beginning balance (in shares) at Mar. 31, 2025		6,558,927
Beginning balance at Mar. 31, 2025	144,912	$ 0		828,679		(451)	(683,316)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		5,952
Issuance of common stock upon exercise of stock options	71			71
Issuance of common stock in at-the-market offering, net of $0.3 million in issuance costs (in shares)			185,837
Issuance of common stock in at-the-market offering, net of $0.3 million in issuance costs	6,611				$ 6,611
Stock-based compensation	1,824			1,824
Net loss	(21,394)						(21,394)
Other comprehensive loss	$ (354)					(354)
Ending balance (in shares) at Jun. 30, 2025	6,750,716	6,750,716
Ending balance at Jun. 30, 2025	$ 131,670	$ 0		$ 837,185		$ (805)	$ (704,710)

Instil Bio, Inc. 10-Q