CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 58,451	$ 37,788
Marketable securities, current	177,431	109,750
Prepaid expenses and other current assets	5,537	3,455
Total current assets	241,419	150,993
Property and equipment, net	2,225	2,466
Marketable securities, noncurrent	74,420	20,505
Restricted cash	963	962
Operating lease right-of-use asset	6,926	7,832
Other assets	0	2,994
Total assets	325,953	185,752
Current liabilities:
Accounts payable	769	1,186
Accrued expenses	9,668	8,162
Operating lease liability, current	1,269	1,072
Other current liabilities	6	0
Total current liabilities	11,712	10,420
Operating lease liability, noncurrent	7,408	8,677
Total liabilities	19,120	19,097
Commitments and contingencies (Note 8)
Convertible preferred stock, value	0	330,368
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value, 10,000,000 and no shares authorized as of December 31, 2025 and December 31, 2024, respectively; no shares issued or outstanding as of December 31, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value, 500,000,000 and 55,200,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 44,723,585 and 4,798,721 shares issued, 44,723,585 and 4,722,763 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	45	5
Additional paid-in capital	562,602	17,000
Accumulated other comprehensive income	540	368
Accumulated deficit	(256,354)	(181,086)
Total stockholders’ equity (deficit)	306,833	(163,713)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit)	325,953	185,752
Series Seed Preferred Stock
Current liabilities:
Convertible preferred stock, value	0	13,014
Series A Preferred Stock
Current liabilities:
Convertible preferred stock, value	0	25,235
Series B Preferred Stock
Current liabilities:
Convertible preferred stock, value	0	110,791
Series C Preferred Stock
Current liabilities:
Convertible preferred stock, value	$ 0	$ 181,328

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.

Name:	us-gaap_AccountsPayableCurrentAndNoncurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).