CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 323,462	$ 96,685
Prepaid expenses and other assets	5,162	7,252
Marketable securities	216,291	318,116
Total current assets	544,915	422,053
Property and equipment, net	346	330
Right of use asset – operating lease	1,428	1,701
Other assets	6,910	6,910
Total assets	553,599	430,994
Current liabilities:
Operating lease liability – current portion	1,140	1,117
Total current liabilities	39,340	28,949
Operating lease liability – net of current portion	301	593
Total liabilities	39,641	29,542
Commitments and Contingencies (Note 7)
Stockholders' equity:
Preferred stock $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value, 500,000,000 and 500,000,000 shares authorized; 65,547,037 and 56,600,724 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	8	7
Additional paid-in capital	929,370	760,168
Accumulated other comprehensive (loss) income	(243)	243
Accumulated deficit	(415,177)	(358,966)
Total stockholders' equity	513,958	401,452
Total liabilities and stockholders’ equity	553,599	430,994
Nonrelated Party
Current liabilities:
Accounts payable	6,188	5,515
Accrued expenses and other current liabilities	29,948	18,898
Related Party
Current liabilities:
Accounts payable	1,252	2,278
Accrued expenses and other current liabilities	$ 812	$ 1,141

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).