v3.26.1
STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended 24 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Cash flows from operating activities      
Net loss $ (39,869,000) $ (29,164,000)  
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation expense 612,000 271,000  
Loss on disposal of property and equipment 5,400 0  
Non-cash lease expense 383,000 405,000  
Gain on lease termination (518,000) 0  
Stock-based compensation 2,786,000 1,490,000  
Change in fair value of redeemable convertible preferred stock tranche liability 1,526,000 3,417,000  
Interest receivable (74,000) 216,000  
Changes in:      
Other receivables (8,000) (300,000)  
Prepaid expenses and other current assets (186,000) (540,000)  
Other non-current assets (38,000) (367,000)  
Accounts payable 549,000 1,339,000  
Payroll-related accruals 900,000 673,000  
Accrued expenses and other current liabilities 1,672,000 332,000  
Lease liability (441,000) 201,000  
Net cash used in operating activities (32,701,000) (22,027,000)  
Cash flows from investing activities      
Property and equipment (789,000) (1,991,000)  
Purchases of short-term investments (17,001,000) (20,630,000)  
Redemptions of short-term investments 5,996,000 44,882,000  
Net cash (used in) provided by investing activities (11,794,000) 22,261,000  
Cash flows from financing activities      
Proceeds from exercise of stock options 170,000 185,000  
Repurchases of common stock (1,450,000) 0  
Gross proceeds from issuance of redeemable convertible preferred stock 127,336,000 0  
Issuance costs of redeemable convertible preferred stock (288,000) 0  
Payments for deferred offering cost (1,183,000) 0  
Net cash provided by financing activities 124,585,000 185,000  
Net increase in cash and cash equivalents 80,090,000 419,000  
Cash and cash equivalents, beginning of year 16,268,000 15,849,000 $ 15,849,000
Cash and cash equivalents, end of year 96,358,000 16,268,000 $ 96,358,000
Supplemental cash flow information      
Cash paid for taxes 1,000 18,000  
Settlement of redeemable convertible preferred stock tranche liability 4,943,000 0  
Purchases of property and equipment included in accounts payable and accrued expense 248,000 0  
Deferred offering costs included in accounts payable and accrued expense 1,531,000 0  
Reduction of right-of-use asset 2,929,000 0  
Reduction of lease liability due to early termination 3,447,000 0  
Right-of-use asset in exchange for lease liability $ 1,573,000 $ 3,696,000