v3.26.1
Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 250,173 $ 22,978
Marketable securities 45,040 5,021
Prepaid expenses and other current assets 13,219 880
Total current assets 308,432 28,879
Operating lease right-of-use assets, net 2,151 2,298
Property and equipment, net 1,581 1,859
Restricted cash 770 498
Total assets 312,934 33,534
Current liabilities    
Accounts payable 2,127 2,320
Accrued expenses 4,585 5,302
Operating lease liability, current 730 487
Total current liabilities 7,442 8,109
Derivative liability - warrants 1,343 2,504
Operating lease liability, noncurrent 2,839 3,216
Total liabilities 11,624 13,829
Commitments and contingencies (Note 13)
Stockholders' equity (deficit)    
Common stock, $0.0001 par value, 500,000,000 and 105,000,000 shares authorized, 25,299,372 and 251,655 shares issued and outstanding as of December 31, 2025 and 2024, respectively. 3 1
Additional paid-in capital 430,667 9,657
Accumulated deficit (129,528) (104,323)
Accumulated other comprehensive income 168 111
Total stockholders' equity (deficit) 301,310 (94,554)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) 312,934 33,534
Series Seed Preferred Stock [Member]    
Redeemable convertible preferred stock    
Preferred stock , Value 0 435
Series A Preferred Stock [Member]    
Redeemable convertible preferred stock    
Preferred stock , Value 0 6,179
Series B Preferred Stock [Member]    
Redeemable convertible preferred stock    
Preferred stock , Value 0 580
Series C Preferred Stock [Member]    
Redeemable convertible preferred stock    
Preferred stock , Value $ 0 $ 107,065