v3.26.1
BALANCE SHEETS - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 96,358,000 $ 16,268,000
Short-term investments 11,078,000 0
Other receivables 431,000 423,000
Prepaid expenses and other current assets 901,000 715,000
Total current assets 108,768,000 17,406,000
Other non-current assets 492,000 453,000
Property and equipment, net 2,339,000 2,168,000
Deferred offering costs 2,715,000 0
Right-of-use asset 1,552,000 3,291,000
Total assets 115,866,000 23,318,000
Current liabilities    
Accounts payable 2,696,000 1,978,000
Payroll-related accruals 2,182,000 1,282,000
Other current liabilities 3,706,000 672,000
Lease liability, current 0 442,000
Redeemable convertible preferred stock tranche liability 0 3,417,000
Total current liabilities 8,584,000 7,791,000
Lease liability, non-current 1,582,000 3,455,000
Total liabilities 10,166,000 11,246,000
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $.00001 par value; 116,618,581 shares authorized, 20,341,968 and 9,608,914 shares issued and outstanding as of December 31, 2025 and 2024, respectively (aggregate liquidation preference of $200,878 and $73,542 as of December 31, 2025 and 2024, respectively) 204,537,000 72,546,000
Stockholders' deficit    
Common stock, $.00001 par value; 154,383,336 shares authorized; 2,203,620 and 2,196,423 shares issued and outstanding as of December 31, 2025 and 2024, respectively 0 0
Common stock additional paid-in capital 5,893,000 4,387,000
Accumulated deficit (104,730,000) (64,861,000)
Total stockholders' deficit (98,837,000) (60,474,000)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit $ 115,866,000 $ 23,318,000