v3.25.4
Income Taxes - Summary of Net Deferred Tax Assets (Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:      
US and State net operating loss carryforwards $ 10,195 $ 3,246  
Capitalized research and development costs 34,006 19,043  
License fees capitalization 958 1,022  
Research and development credit carryforwards 10,589 5,065  
Accruals and other 1,633 853  
Lease liability 2,809 355  
Stock-based compensation 1,792 1,049  
Other 20 0  
Total deferred tax assets 62,002 30,633  
Deferred tax liabilities      
Depreciation (121) (75)  
Right-of-Use Asset (2,424) (347)  
Total deferred tax liabilities (2,545) (422)  
Valuation Allowance (59,457) (30,211) $ (13,145)
Net deferred tax assets (liabilities) $ 0 $ 0