v3.25.4
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues:    
Total revenues $ 2,036 $ 6,235
Operating expenses:    
Research and development 145,638 83,105
General and administrative 34,331 24,994
Total operating expenses 179,969 108,099
Loss from operations (177,933) (101,864)
Other income/(expense):    
Interest and investment income 16,119 17,365
Gain on investment in former related party 508 148
Loss on currency exchange, net (57) (64)
Other expense (974) (554)
Total other income 15,596 16,895
Net loss $ (162,337) $ (84,969)
Net loss per share attributable to common stockholders, basic $ (4.2) $ (2.55)
Net loss per share attributable to common stockholders, diluted $ (4.2) $ (2.55)
Weighted-average number of shares of common stock outstanding including shares issuable under equity-classified pre-funded warrants, used in computing net loss per share of common stock, basic 38,617,580 33,313,849
Weighted-average number of shares of common stock outstanding including shares issuable under equity-classified pre-funded warrants, used in computing net loss per share of common stock, diluted 38,617,580 33,313,849
Comprehensive loss:    
Net Income (Loss) $ (162,337) $ (84,969)
Other comprehensive income:    
Unrealized gain on marketable securities 383 59
Total other comprehensive income 383 59
Total comprehensive loss (161,954) (84,910)
License [Member] | Former Related Party [Member]    
Revenues:    
Total revenues 0 5,909
License [Member] | Non-related Party [Member]    
Revenues:    
Total revenues $ 2,036 $ 326