Common Stock |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Stockholders' Equity Note [Abstract] | |
| Common Stock | 7. Common Stock The voting, dividend and liquidation rights of the holders of the Company’s common stock were subject to and qualified by the rights, powers and preferences of the holders of the convertible preferred stock set forth above. Each share of common stock entitles the holder to one vote, together with the holders of the convertible preferred stock, on all matters submitted to the stockholders for a vote. The holders of common stock are entitled to receive dividends, if any, as declared by the Company’s board of directors, subject to the preferential dividend rights of convertible preferred stock. As of December 31, 2025 and 2024, no dividends have been declared or paid. On May 30, 2024, the Company’s stockholders approved the third amended and restated certificate of incorporation, which was filed upon the closing of the IPO on June 10, 2024 and which, among other things, increased the number of shares of common stock authorized for issuance from 250,000,000 to 500,000,000 shares of common stock. In June 2024, the Company completed its IPO of its common stock. In connection with its IPO, the Company issued and sold 9,200,000 shares of its common stock at a price of $17.00 per share. As a result, the Company received $140.9 million in net proceeds, after deducting underwriting discounts and commissions and offering costs of $15.5 million. In connection with its IPO, the Company issued and sold 1,058,824 shares of its common stock in a concurrent private placement, at a price of $17.00 per share, and received $16.7 million in net proceeds, after deducting placement agent fees and other private placement costs of $1.3 million. In July 2025, the Company filed a registration statement on Form S-3 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) covering the offering of up to $400.0 million in common stock, preferred stock, debt securities, warrants and/or units. Concurrent with the filing of the Registration Statement, the Company entered into a common stock sales agreement, dated July 1, 2025, by and between the Company and Leerink Partners LLC and Cantor Fitzgerald & Co., acting as sales agents (the “Sales Agreement”), which established an at-the-market offering program for the offer and sale of common stock from time to time (the “ATM Program”). In connection with the ATM Program, the Company also filed a prospectus with the Registration Statement for the offer and sale of up to $150.0 million of shares of common stock from time to time through the sales agents (the “ATM Prospectus”). In September 2025, the Company terminated the ATM Prospectus. In September 2025, the Company completed an underwritten public offering of 11,057,692 shares of common stock (inclusive of 1,442,307 shares of common stock sold pursuant to the underwriters’ full exercise of their option to purchase additional shares) at a public offering price of $26.00 per share (the “September 2025 Offering”) pursuant to an effective shelf registration statement (File No. 333-288444) and a related prospectus supplement filed with the SEC. The net proceeds from the September 2025 Offering were approximately $269.4 million, after deducting underwriter discounts, commissions, and other offering costs of $18.1 million. In connection with the ATM Program, the Company filed a prospectus supplement with the Securities and Exchange Commission on January 7, 2026, for the offer and sale of up to $110.0 million of shares of common stock from time to time through the sales agents. To date, the Company had not issued and sold any shares of common stock under the Sales Agreement. As of December 31, 2025, the Company had reserved 8,878,968 shares of common stock, of which 2,503,036 shares were reserved for issuance under the 2022 Plan, 5,685,887 shares under the 2024 Stock Option and Grant Plan (the “2024 Plan”) and 690,045 shares under the 2024 Employee Stock Purchase Plan (the “2024 ESPP”) (see Note 8). |