v3.25.2
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2023 $ 379,913   $ 503,354 $ (123,770) $ 329
Beginning balance (in shares) at Dec. 31, 2023   48,338,769      
MEMBERS' DEFICIT          
Common stock issued, net of issuance costs 449,955 $ 1 449,954    
Common stock issued, net of issuance costs (in shares)   7,790,321      
Vesting of restricted common stock (in shares)   237,665      
Issuance of common stock upon exercise of stock options 24   24    
Issuance of common stock upon exercise of stock options (in shares)   1,047      
Equity-based compensation expense 4,186   4,186    
Unrealized gain (loss) on marketable securities, net of tax (506)       (506)
Net loss (32,094)     (32,094)  
Ending balance at Mar. 31, 2024 801,478 $ 1 957,518 (155,864) (177)
Ending balance (in shares) at Mar. 31, 2024   56,367,802      
Beginning balance at Dec. 31, 2023 379,913   503,354 (123,770) 329
Beginning balance (in shares) at Dec. 31, 2023   48,338,769      
MEMBERS' DEFICIT          
Unrealized gain (loss) on marketable securities, net of tax (618)        
Net loss (65,910)        
Ending balance at Jun. 30, 2024 773,639 $ 1 963,607 (189,680) (289)
Ending balance (in shares) at Jun. 30, 2024   56,676,465      
Beginning balance at Mar. 31, 2024 801,478 $ 1 957,518 (155,864) (177)
Beginning balance (in shares) at Mar. 31, 2024   56,367,802      
MEMBERS' DEFICIT          
Vesting of restricted common stock (in shares)   292,477      
Issuance of common stock upon exercise of stock options 14   14    
Issuance of common stock upon exercise of stock options (in shares)   628      
Issuance of common stock under employee stock purchase plan 377   377    
Issuance of common stock under employee stock purchase plan (in shares)   15,558      
Equity-based compensation expense 5,698   5,698    
Unrealized gain (loss) on marketable securities, net of tax (112)       (112)
Net loss (33,816)     (33,816)  
Ending balance at Jun. 30, 2024 773,639 $ 1 963,607 (189,680) (289)
Ending balance (in shares) at Jun. 30, 2024   56,676,465      
Beginning balance at Dec. 31, 2024 716,794 $ 1 1,021,794 (305,916) 915
Beginning balance (in shares) at Dec. 31, 2024   58,062,898      
MEMBERS' DEFICIT          
Vesting of restricted common stock (in shares)   213,104      
Issuance of common stock upon exercise of stock options 622   622    
Issuance of common stock upon exercise of stock options (in shares)   28,799      
Equity-based compensation expense 11,126   11,126    
Unrealized gain (loss) on marketable securities, net of tax 159       159
Net loss (55,339)     (55,339)  
Ending balance at Mar. 31, 2025 673,362 $ 1 1,033,542 (361,255) 1,074
Ending balance (in shares) at Mar. 31, 2025   58,304,801      
Beginning balance at Dec. 31, 2024 $ 716,794 $ 1 1,021,794 (305,916) 915
Beginning balance (in shares) at Dec. 31, 2024   58,062,898      
MEMBERS' DEFICIT          
Issuance of common stock upon exercise of stock options (in shares) 49,922        
Unrealized gain (loss) on marketable securities, net of tax $ (230)        
Net loss (121,435)        
Ending balance at Jun. 30, 2025 619,401 $ 1 1,046,066 (427,351) 685
Ending balance (in shares) at Jun. 30, 2025   58,560,525      
Beginning balance at Mar. 31, 2025 673,362 $ 1 1,033,542 (361,255) 1,074
Beginning balance (in shares) at Mar. 31, 2025   58,304,801      
MEMBERS' DEFICIT          
Vesting of restricted common stock (in shares)   213,031      
Issuance of common stock upon exercise of stock options 384   384    
Issuance of common stock upon exercise of stock options (in shares)   21,123      
Issuance of common stock under employee stock purchase plan 796   796    
Issuance of common stock under employee stock purchase plan (in shares)   21,570      
Equity-based compensation expense 11,344   11,344    
Unrealized gain (loss) on marketable securities, net of tax (389)       (389)
Net loss (66,096)     (66,096)  
Ending balance at Jun. 30, 2025 $ 619,401 $ 1 $ 1,046,066 $ (427,351) $ 685
Ending balance (in shares) at Jun. 30, 2025   58,560,525