v3.25.2
Segment Reporting - Schedule of Segment Net Loss, Including Disaggregated Components of Operating Expenses (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]            
Collaboration revenue $ 937   $ 510   $ 1,503 $ 1,150
Research and development:            
Manufacturing costs 10,000   1,416   12,129 1,641
Personnel expenses 4,509   2,404   8,214 4,839
Professional fees and other 1,079   1,242   2,571 2,542
Total research and development expenses 37,865   14,069   63,662 25,760
General and administrative:            
Personnel expenses 3,773   2,313   8,005 4,689
Professional fees 2,397   1,334   3,893 2,461
Other 1,249   334   2,303 793
Total general and administrative expenses 7,419   3,981   14,201 7,943
Total operating expenses 45,284   18,050   77,863 33,703
Loss from operations (44,347)   (17,540)   (76,360) (32,553)
Other income (expense):            
Change in fair value of preferred stock tranche right liabilities 0   0   0 2,859
Interest income 4,431   2,877   9,174 4,143
Other expense, net (50)   (15)   (50) (21)
Total other income, net 4,381   2,862   9,124 6,981
Net loss (39,966) $ (27,270) (14,678) $ (10,894) (67,236) (25,572)
Asthma Indication            
Research and development:            
Verekitug program 13,236   6,935   23,257 13,102
CRSwNP Indication            
Research and development:            
Verekitug program 2,238   $ 2,072   5,001 $ 3,636
COPD Indication            
Research and development:            
Verekitug program $ 6,803       $ 12,490