v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (27,783) $ (2,533)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation of equipment 5 5
Stock-based compensation 3,134 179
Issuance of common stock in connection with vesting of restricted stock units   29
Amortization of right of use lease asset 63 3
Accretion of lease liability   1
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 290 (323)
Other assets, noncurrent   (151)
Accounts payable 375 (23)
Accrued expenses and other current liabilities 3,597 377
Paramora warrant obligation 4,984  
Related party accounts payable and other current liabilities (5,209)  
Other liabilities, noncurrent (54) (3)
Net cash used in operating activities (20,598) (2,439)
Cash flows from financing activities    
Proceeds from issuance of stock in connection with offering, net of issuance costs 295,497  
Proceeds from issuance of common stock in connection with stock option exercise 424  
Net cash provided by financing activities 295,921  
Net increase (decrease) in cash and cash equivalents 275,323 (2,439)
Effect of exchange rate changes on cash and cash equivalents (48) 203
Cash and cash equivalents, beginning of year 257,624 14,175
Cash and cash equivalents, end of year $ 532,899 11,939
Supplemental disclosures of cash flow information:    
Cash paid for taxes   $ 2