v3.25.2
Condensed Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($)
$ in Thousands
Total
Series A Convertible Preferred Stock
Series B Convertible Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss) Income
Accumulated Deficit
Beginning Balance at Dec. 31, 2023 $ (38,374)     $ 3 $ 8,199   $ (46,576)
Beginning Balance (in shares) at Dec. 31, 2023       3,168,134      
Temporary Equity, Beginning Balance at Dec. 31, 2023   $ 74,694 $ 74,521        
Temporary Equity, Beginning Balance (in shares) at Dec. 31, 2023   75,000,000 60,828,720        
Issuance of common stock upon exercise of stock options 1       1    
Issuance of common stock upon exercise of stock options (in shares)       217      
Vesting of restricted common stock 6       6    
Repurchase of unvested restricted common stock (in shares)       (11,517)      
Stock-based compensation expense 577       577    
Net unrealized gain (loss) on marketable securities (7)         $ (7)  
Net loss (14,166)           (14,166)
Ending Balance at Mar. 31, 2024 (51,963)     $ 3 8,783 (7) (60,742)
Ending Balance (in shares) at Mar. 31, 2024       3,156,834      
Temporary Equity, Ending Balance at Mar. 31, 2024   $ 74,694 $ 74,521        
Temporary Equity, Ending Balance (in shares) at Mar. 31, 2024   75,000,000 60,828,720        
Beginning Balance at Dec. 31, 2023 (38,374)     $ 3 8,199   (46,576)
Beginning Balance (in shares) at Dec. 31, 2023       3,168,134      
Temporary Equity, Beginning Balance at Dec. 31, 2023   $ 74,694 $ 74,521        
Temporary Equity, Beginning Balance (in shares) at Dec. 31, 2023   75,000,000 60,828,720        
Net loss (30,607)            
Ending Balance at Jun. 30, 2024 (67,763)     $ 3 9,425 (8) (77,183)
Ending Balance (in shares) at Jun. 30, 2024       3,163,020      
Temporary Equity, Ending Balance at Jun. 30, 2024   $ 74,694 $ 149,463        
Temporary Equity, Ending Balance (in shares) at Jun. 30, 2024   75,000,000 121,657,452        
Beginning Balance at Mar. 31, 2024 (51,963)     $ 3 8,783 (7) (60,742)
Beginning Balance (in shares) at Mar. 31, 2024       3,156,834      
Temporary Equity, Beginning Balance at Mar. 31, 2024   $ 74,694 $ 74,521        
Temporary Equity, Beginning Balance (in shares) at Mar. 31, 2024   75,000,000 60,828,720        
Issuance of Series B Convertible Preferred Stock, net of issuance costs of $479     $ 74,942        
Issuance of Series B Convertible Preferred Stock, net of issuance costs of $479 (in shares)     60,828,732        
Issuance of common stock upon exercise of stock options 10       10    
Issuance of common stock upon exercise of stock options (in shares)       6,186      
Vesting of restricted common stock 4       4    
Stock-based compensation expense 628       628    
Net unrealized gain (loss) on marketable securities (1)         (1)  
Net loss (16,441)           (16,441)
Ending Balance at Jun. 30, 2024 (67,763)     $ 3 9,425 (8) (77,183)
Ending Balance (in shares) at Jun. 30, 2024       3,163,020      
Temporary Equity, Ending Balance at Jun. 30, 2024   $ 74,694 $ 149,463        
Temporary Equity, Ending Balance (in shares) at Jun. 30, 2024   75,000,000 121,657,452        
Beginning Balance at Dec. 31, 2024 420,047     $ 44 538,321 56 (118,374)
Beginning Balance (in shares) at Dec. 31, 2024       44,422,505      
Issuance of common stock upon exercise of stock options 66       66    
Issuance of common stock upon exercise of stock options (in shares)       25,930      
Vesting of restricted common stock 5       5    
Stock-based compensation expense 1,482       1,482    
Net unrealized gain (loss) on marketable securities 142         142  
Net loss (21,476)           (21,476)
Ending Balance at Mar. 31, 2025 400,266     $ 44 539,874 198 (139,850)
Ending Balance (in shares) at Mar. 31, 2025       44,448,435      
Beginning Balance at Dec. 31, 2024 $ 420,047     $ 44 538,321 56 (118,374)
Beginning Balance (in shares) at Dec. 31, 2024       44,422,505      
Issuance of common stock upon exercise of stock options (in shares) 145,386            
Net loss $ (46,314)            
Ending Balance at Jun. 30, 2025 377,557     $ 45 542,024 176 (164,688)
Ending Balance (in shares) at Jun. 30, 2025       44,567,891      
Beginning Balance at Mar. 31, 2025 400,266     $ 44 539,874 198 (139,850)
Beginning Balance (in shares) at Mar. 31, 2025       44,448,435      
Issuance of common stock upon exercise of stock options 339     $ 1 338    
Issuance of common stock upon exercise of stock options (in shares)       119,456      
Vesting of restricted common stock 6       6    
Stock-based compensation expense 1,806       1,806    
Net unrealized gain (loss) on marketable securities (22)         (22)  
Net loss (24,838)           (24,838)
Ending Balance at Jun. 30, 2025 $ 377,557     $ 45 $ 542,024 $ 176 $ (164,688)
Ending Balance (in shares) at Jun. 30, 2025       44,567,891