v3.25.4
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities:    
Net Income (Loss) $ (83,865) $ (65,373)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,597 2,431
Stock-based compensation 6,821 6,980
Change in fair value of SAFEs (including related party amounts of $0 and $2,911, respectively) 0 3,597
Accretion of discounts and amortization of premiums on investments, net (1,880) (2,342)
Changes in operating assets and liabilities:    
Accounts receivable (including related party amounts of $0 and $569, respectively) 0 1,034
Other receivables (including related party amounts of $(61) and $607, respectively) 79 578
Prepaid expenses and other current assets (1,534) (1,965)
Other long-term assets (191) 125
Accounts payable (including related party amounts of $ (276) and $76, respectively) (760) 519
Accrued expenses (including related party amounts of $(735) and $(1,447), respectively) 2,003 (659)
Operating lease right-of-use asset and lease liabilities, net (21) 43
Net cash used in operating activities (76,751) (55,032)
Investing activities:    
Purchases of property and equipment (2,587) (642)
Purchases of investments (44,875) (176,171)
Maturities of investments 110,873 56,350
Net cash provided by (used in) investing activities 63,411 (120,463)
Financing activities:    
Proceeds from issuance of common stock, net of commissions 0 166,507
Proceeds from exercise of stock options 138 51
Proceeds from purchase of ESPP shares 233 0
Payments to taxing authorities related to net-settlement of vested restricted stock units (230) 0
Payments on finance leases (132) (149)
Cash paid in connection with IPO offering costs 0 (4,183)
Net cash provided by financing activities 9 162,226
Net decrease in cash, cash equivalents and restricted cash (13,331) (13,269)
Cash, cash equivalents and restricted cash at beginning of period 40,493 53,762
Cash, cash equivalents and restricted cash at end of period 27,162 40,493
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet:    
Cash and cash equivalents 26,701 40,235
Restricted cash 461 258
Total cash, cash equivalents and restricted cash 27,162 40,493
Supplemental disclosures of noncash activities:    
Right-of-use asset obtained in exchange for new operating lease liability 442 0
Reduction in operating lease liabilities and right-of-use-assets from remeasurement 546 0
Property and equipment purchases in accounts payable and accrued liabilities 292 57
Conversion of SAFE notes to common stock 0 28,697
Conversion of preferred stock to common stock 0 216,413
Non-cash additions to financing leases $ 0 $ 241