v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Research service revenue - related party $ 5,000 $ 983
Revenues, Total 5,000 983
Operating expenses:    
Research and development 9,328 6,558
General and administrative 6,128 3,976
Total operating expenses 15,456 10,534
Loss from operations (10,456) (9,551)
Interest income 912 296
Loss on amendment and cancellation of warrants 0 (2,073)
Loss on execution of the 2025 PIPE 0 (71,084)
Gain on change in fair value of tranche liability (76,855) 16,340
Gain on settlement of tranche liability 0 1,117
Other income (expense), net (Note 3) (41,106) 37,985
Net loss $ (127,505) $ (26,970)
Net loss per share attributable to common stockholders, basic $ (11.65) $ (7.43)
Net loss per share attributable to common stockholders, diluted $ (11.65) $ (7.43)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic 10,949 3,628
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted 10,949 3,628
Research service revenue [Member]    
Research service revenue - related party $ 0 $ 983
Collaboration and license revenue [Member]    
Research service revenue - related party $ 5,000 $ 0